EEA Regional Addendum to Smart Account Terms
Last updated: February 5, 2026
Additional Card Services terms for customers of OKX Europe Limited
1. Service Providers & Regulation For residents of the European Economic Area (EEA), the Services are provided by the following regulated entities:
Card Issuer: The OKX Debit Card ("Card") is issued by UAB Monavate ("Monavate"), a company incorporated in Lithuania (Company Code: 305628001) and authorised by the Bank of Lithuania as an Electronic Money Institution (License No. LB002139).
Card Manager & Crypto-Asset Services: The Card program, the Smart Account wallet infrastructure and conversion services are provided by OKX Europe Limited, a limited liability company incorporated and registered in Malta and licensed as a Crypto-Asset Service Provider by the Malta Financial Services Authority. OKX Europe Limited is a program card manager acting on behalf of Monavate as Card Issuer.
2. Liability for Loss Notwithstanding anything to the contrary in the general Terms of Service, in accordance with Article 75 of the Markets in Crypto-Assets Regulation (MiCA), OKX Europe Limited accepts limited liability for the loss of crypto-assets associated with your Smart Account if the loss is a result of:
A malfunction of the wallet infrastructure under our control; or
Cyber-attacks, hacks, or security breaches affecting the OKX infrastructure within our control.
In such events, our liability is capped at the market value of the crypto-assets at the time the loss occurred. We expressly disclaim any and all liability for losses resulting from your failure, including without limitation, to safeguard your private key shard, login credentials, or device.
3. Continuous Payment Authority By enabling the Card Services, you grant OKX a Continuous Payment Authorisation.
Scope: You authorise OKX Europe Limited to automatically, and on your behalf, sign and execute transactions on your Smart Account to settle Card purchases, fees, and adjustments initiated by the Card Issuer. In order to settle your transaction, and upon your authorisation hereby received, we will convert your designated crypto assets into EUR and transfer such amount to the Card Issuer, as required to cover any amount due, net of any applicable conversion fee applied by us, to Monavate. Monavate will be responsible for transferring the correct amount to the merchant via the relevant Card Scheme
Settlement Variance: If a merchant settles a transaction for an amount higher than the initial authorization (e.g., due to tips, petrol buffers, or FX variance), you expressly authorise OKX Europe Limited to deduct the difference from your Smart Account balance without further biometric or cryptographic approval.
Refusal and Suspension: We may decline a transaction in instances where: (i) you don't have sufficient assets in your Smart Account to cover the cost of a transaction; (ii) the payment exceeds the Card spending limits; (iii) in circumstances where the Card Issuer or the Card Scheme prevents us from completing the transaction; or (iv) your Smart Account has been closed or suspended.For additional details, please refer to your Cardholder Agreement.
Currency Conversion TransparencyFee Structure: For transactions in non-USD currencies (e.g. EUR), a crypto liquidation fee of not more than 0.40% may apply. Please see your transaction history for the exact fee amount.
Rate: The conversion rate (crypto to EUR) is determined by OKX at the moment of settlement. Conversion rates will be determined by OKX, in good faith, using prevailing market rates reasonably available to us.
4. Currency Conversion Transparency The Card itself is denominated in Euro (EUR).
Euro Transactions: Once funded, no additional foreign exchange fee is charged by the Card Issuer for transactions made in EUR.
Non-Euro Transactions (e.g., Spending in Poland): If you use the Card to purchase goods in a currency other than EUR, a separate card scheme managed currency conversion will occur.
Fee: 0% fee applies to the card-level conversion.
Transparency (CBPR2): For these non-EUR transactions within the EEA, card-level conversion charges shall be as processed by the Card Scheme, that is Mastercard. For all other rate settlement information please refer to the transactions portal in the OKX application.
5. Right of Withdrawal
14-Calendar Day Period: You have the right to withdraw from this Agreement and cancel your Card Services within 14 calendar days of activation without giving any reason. Notwithstanding the above, you remain liable for the settlement of any transaction, up to the time your card is actually cancelled, that has been authorised but not yet settled.
Exclusion: This right does not apply to executed crypto-to-fiat conversion transactions, which are authorized but not yet settled at the moment of authorization based on market fluctuations outside our control.
6. Nature of the Card & Funds
Prepaid Card Limitations Although marketed as a "Debit Card," the OKX Card operates on a prepaid Bank Identification Number (BIN).
Acceptance: Certain merchants (e.g., car rental agencies, hotels, automated fuel dispensers) may decline the Card or require a credit card for security deposits.
Offline Transactions: The Card may not function at terminals that are not connected to the internet (e.g., in-flight purchases or offline toll booths).
No Deposit Guarantee Scheme (DGS) Funds used to back the Card are held as Crypto-Assets in your Smart Account, not as Fiat currency in a bank account.
Risk Warning: Your balance is not protected by any investor compensation scheme under Directive 97/9/EC or the deposit guarantee schemes under Directive 2014/49/EU. In the event of OKX Europe Limited's insolvency, your claim would be that of a general creditor.
7. Refunds and Reversals
Please see your Cardholder Agreement for more details, including how to file a refund request or dispute a transaction.
In the event a merchant initiates a refund or a transaction is reversed, the funds will be credited to your account at the FX-rate applicable at the time of the original transaction. OEX Europe Limited will not be responsible for any loss you incur as a result of any change in FX-rates between the time of the original transaction and the time in which the funds are credited to your account.
8. Taxation
Taxable Event You acknowledge that using the Card to spend Crypto-Assets constitutes a disposal of assets which may be a taxable event in your jurisdiction (e.g., Capital Gains Tax).
Reporting Responsibility: You are solely responsible for determining, calculating, and reporting any tax liability arising from your use of the Card. OKX Europe Limited will not withhold taxes on your behalf unless strictly required by law, but will report transaction data to tax authorities where required by applicable legislation such as EU's DAC8.
9. Data Privacy & Sharing
OKX processes your personal data as an independent data controller for the purpose of providing the Card Services, including verifying your identity, issuing and managing your Card, processing transactions, preventing fraud, and complying with applicable legal and regulatory obligations.
Your personal data may be shared with the Card Issuer, card schemes, regulators and supervisory authorities, service providers who support the provision, operation, and security of the Card Services.
Your personal data is processed in accordance with applicable data protection laws, including the General Data Protection Regulation (GDPR). Further information about how we process and use your personal data, the categories of recipients, how long it is retained, and your rights (including the rights of access, rectification, erasure, restriction, objection, data portability, and the right to lodge a complaint with a supervisory authority) is set out in our Privacy Notice, which forms part of these Terms.
The Card Issuer separately processes your personal data in accordance with its own privacy notice, available here.
10. Blockchain Network Risks The release of encumbered USDC relies on blockchain network availability. OKX is not liable for delays in updating your "available balance" caused by congestion, forks, or outages on the underlying blockchain network, provided OKX has taken reasonable steps to process the instruction.
Promotional Programmes
EEA Card Cashback Programme
1. Overview
Subject to these EEA Regional Addendum terms, eligible EEA Cardholders may participate in a cashback programme (the “Cashback Programme”) under which a percentage of eligible card spending using the OKX Card may be credited back to the Cardholder.
Additional details may be found in the following links:
2. Eligibility
You will be eligible to participate in the Cashback Programme if, at the relevant time:
you are an EEA resident eligible for an OKX Card;
your OKX Smart Account and OKX Card are active and in good standing;
you have completed all applicable identity verification and compliance checks; and
your card transactions comply with these Terms and all applicable laws and is an Eligible Transaction.
OKX may exclude specific users, accounts, jurisdictions, or transaction types from eligibility at its discretion, including for compliance, risk management, or abuse prevention purposes.
3. Eligible Transactions
Cashback may only be earned on qualifying purchase transactions made using the OKX Card. Unless otherwise stated by OKX, the following are excluded from the Cashback Programme:
cash withdrawals, cash-equivalent transactions, and ATM usage;
refunds, chargebacks, reversed or disputed transactions;
peer-to-peer transfers or internal account movements;
fees, interest, penalties, or taxes;
transactions identified by merchant category codes (MCCs) as excluded by OKX from time to time; and
any transaction determined by OKX to be abusive, fraudulent, or not genuine spending.
4. Cashback Rate, Caps, and Calculation
The cashback rate, applicable caps, minimum spend thresholds, and any promotional multipliers (if applicable) will be determined by OKX and may vary by:
time period (including promotional periods);
user tier or eligibility criteria;
transaction type or merchant category; and
overall programme budget availability.
Cashback is calculated based on the final settled transaction amount, excluding any reversed or refunded amounts. OKX may round cashback amounts in accordance with its internal calculation rules.
5. Cashback Credit and Timing
Unless otherwise stated, cashback will be credited to your OKX account in the form and manner determined by OKX, which may include digital assets or account credits. Although OKX does not guarantee any specific crediting timeframe, cashback is typically credited after the relevant transaction has settled but may be subject to delays due to operational, technical, or compliance checks.
6. Promotional Periods
OKX may offer time-limited or promotional cashback campaigns (“Promotional Periods”).
Promotional Periods may be subject to additional terms, including enhanced rates, caps, or eligibility requirements, which will be disclosed separately and form part of these Terms.
Promotional Periods may end early or be extended at OKX’s sole discretion.
7. Programme Changes, Suspension, or Termination
OKX reserves the right to:
modify the Cashback Programme (including rates, caps, eligibility, or calculation methods);
suspend or terminate the Cashback Programme (in whole or in part); or
exclude specific users or transactions at any time, including without prior notice, where permitted by applicable law.
Any changes will apply prospectively unless otherwise required by law.
8. Errors, Adjustments, and Clawbacks
If cashback is credited in error, or if OKX reasonably determines that cashback was earned in breach of these Terms or through misuse, abuse, or manipulation, OKX may:
adjust, reverse, or reclaim the relevant cashback amount; and/or
offset such amounts against your OKX account balance, to the extent permitted by law.
9. No Cash Value; No Investment Product
Cashback does not constitute interest, yield, a return on investment, electronic money, or a regulated financial product. Cashback has no cash value unless expressly stated otherwise and may be subject to additional conditions or restrictions.
10. Taxes
You are solely responsible for determining and paying any taxes that may apply to cashback received under the Cashback Programme. OKX does not provide tax advice.
11. Consumer Rights
Nothing in this section limits any mandatory consumer rights you may have under applicable EEA consumer protection laws.