Terms and conditions

Wholesale

Applicants for an N1 discount card can be individuals aged 16 and over, and they can choose a discount card only or a discount card linked to a debit payment card. Individuals over 18 have the option of applying for a discount card linked to their credit card.

By applying for membership and accepting the terms of the N1 card, the applicant authorises N1 to use all registered information, including email address, phone number and general information from the national register, in order to be able to provide the requested service. The applicant can also grant N1 consent to process information about their purchases of N1 products and services for marketing and public relations purposes for N1. The applicant can withdraw their consent by sending an email to: n1@n1.is. Further information about the handling of personal data can be found in N1's privacy policy. Information about cardholders is retained for as long as customers hold the N1 card and N1's business interests require it, but never longer than laws and regulations stipulate. All processors of N1 and parties that N1 selects for collaboration have signed an appropriate confidentiality declaration and processing agreement in accordance with the provisions of data protection legislation.

Before a prospective customer confirms their application, they must carefully familiarise themselves with these terms. By accepting the application, a conditional agreement is entered into whereby the applicant is fully bound by these terms, provided that N1 hf. approves the customer's application.

N1 hf. is entitled to seek any information the company considers necessary to process a customer's application for an N1 card or N1 key, such as information from Creditinfo and from commercial banks. Before account transactions are established, or whenever N1 requests it, the applicant must provide such security as N1 hf. considers sufficient for prompt payment of withdrawals.

Customers can access transaction statements and invoices at www.n1.is/en/minar and can also request to have these sent by contacting customer service. A customer with account transactions undertakes to pay their outstanding balance no later than the final payment date.

The billing period is one calendar month. The due date is the last day of the usage month and the final payment date is 30 days after the end of the period. If payment is delayed, late payment interest is added to the invoice amount from the due date. Transactions on each N1 card or N1 key are subject to set monthly spending limits. The spending limit for a customer shall be determined by N1 hf. in consultation with the customer.

The card or key is the property of N1 hf. and the company can revoke it and close the account due to default or misuse without notice at any time. The customer is responsible for all withdrawals, regardless of who uses the card, and undertakes to pay for withdrawals as they appear on sales receipts confirmed at the time of purchase.

If a card or key is lost, the owner must report it immediately to N1 hf. From the time the notification reaches N1 hf., the customer is not liable for misuse of the N1 card or N1 key.

N1 hf. reserves the right to change these terms. Changes to the terms must be announced no later than 15 days before the amended terms take effect. Delivery of new terms of service by ordinary post and/or publication on the N1 hf. website, www.n1.is, constitutes sufficient notification as set out above.

Regarding individual points collection:

N1 points are earned when shopping with N1 hf.

N1 points are not earned when shopping from the following product categories:

• Tobacco
• Magazines and periodicals (domestic and foreign)
• Lotteries and competitions
• Tickets and phone cards
• Electricity

The value of each N1 point is 1 króna in all transactions with N1 hf. An N1 card / N1 key must be presented when transactions take place in order to ensure the accumulation of N1 points. N1 points are non-transferable and are tied to the individual and/or legal entity who is the holder of the N1 card / N1 key. Points cannot be negotiated or redeemed for cash.

Accumulated N1 points expire after 3 years from when they are credited as a balance with N1 hf. The aforementioned expiry period is, however, conditional on the cardholder's transactions with N1 hf. continuing uninterrupted. If no card transactions occur during a continuous 12-month period, because the cardholder does not enter into any transactions with N1 hf., the cardholder's points balance with N1 hf. lapses without warning.

N1 reserves the right to discontinue or change the N1 loyalty programme at any time, with or without separate notification. This includes N1's right to change the rules, points system, and terms for the delivery and allocation of N1 cards. Should the N1 loyalty programme be discontinued, N1 is entitled to cancel all accumulated points. N1 will endeavour to notify cardholders with reasonable advance notice if such a decision is made.

N1 has entered into collaboration agreements with other parties to provide cardholders with certain services. N1 will endeavour to ensure that such services are available but does not guarantee this. N1 is not liable for any loss arising from a partner's failure to perform.

Disputes arising from the interpretation and content of these terms, as well as debt collection matters relating to withdrawals, may be brought before the District Court of Reykjavík.