Purchase protection: does it apply or not?
The Spend Cloud Card is a debit Mastercard. Although websites may recognise the card as a credit card, the Spend Cloud Card works differently: the amount is debited directly from the balance account at the time of payment. With a credit card, transactions are bundled and charged once a month. This difference affects the protection you have as a cardholder.
No purchase protection
Some credit cards offer purchase protection. This typically covers damage, loss, or theft of a purchased product for a certain period after purchase. Purchase protection does not apply to transactions made with Spend Cloud Cards. The Spend Cloud Card is a debit Mastercard and does not offer this additional insurance.
In practice, this means that if a product is damaged, lost, or stolen after purchase, you cannot file a claim through the Spend Cloud.
What protection is available?
Although there is no purchase protection, the Spend Cloud Card does offer other forms of protection:
1. Protection against unauthorised transactions
If someone makes a payment with the card without authorisation (e.g. in the case of fraud), these transactions can be disputed. Read more about this in the article (Prevention of) unauthorized use of the Spend Cloud Card.
2. Deposit guarantee scheme
The Spend Cloud Cards are linked to Adyen, a payment institution regulated by De Nederlandsche Bank (the Dutch central bank). Balances held at Adyen are protected up to €100,000 per account holder under the Dutch deposit guarantee scheme in the event that Adyen goes bankrupt.
Summary
| Type of protection | Spend Cloud Card |
|---|---|
| Purchase protection (damage/loss/theft of product) | No |
| Protection against unauthorised transactions (fraud) | Yes — transactions can be disputed |
| Deposit guarantee scheme (protection in case of Adyen bankruptcy) | Yes — up to €100,000 per account holder |
Tip: Advise employees to take out separate insurance for valuable purchases.
More information about the Spend Cloud Cards and Adyen can be found on the page General information Adyen (balance account).
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