General Terms & Conditions
Last Modified: 26th April 2012
IMPORTANT
INFORMATION: Please read this Agreement carefully before
activating your Account. The terms of this Agreement and fees shall
apply to all Customers.
| "Account" |
a non-deposit non-interest bearing account associated with a
Card and maintained for the sole purpose of enabling
Transactions |
| "Account Closure" |
a fee for redemption where specified in the Fees and Limits
Schedule;
|
| "Additional Card" |
any additional card which is issued to a person any time after
the successful registration of an Account; |
| "Additional Cardholder" |
a person who holds an Additional Card; |
| "Agreement" |
this Agreement of open-ended duration between you and us
incorporating these terms and conditions, as amended from time to
time; |
| "Authorised" |
act of authorising the payment transfer by using the Card
together with (i) the PIN Code or with (ii) the CVV Code and expiry
date or with (iii) the signature of the Cardholder |
| "Available Balance" |
the value of unspent funds loaded onto your Account and
available to use; |
| "Business Day" |
Monday to Friday, 0900hrs to 1800hrs GMT, excluding bank and
public holidays in the UK |
| "Card" |
A physical device bearing electronically stored monetary value
as represented by a claim against Transact Network, and or a
physical or digital mechanism providing access to an account which
is issued by Transact Network for the purpose of enabling
transactions |
| "Customer" |
the person who has applied successfully for a Payment Service
and has been issued at least one Card by us and who is the legally
and financially responsible person to whom the Payment Services are
provided by Us |
| "Fees & Limits Schedule" |
the schedule contained herein |
| "Fee" |
any fee payable by the Customer, as referenced in the Fees
& Limits Schedule; |
| "Instant Card" |
a pre-paid instant issue non-personalised card that can be used
subject to the lower specified Instant Card limits on loading,
transactions and redemption |
| "KYC" |
Know Your Customer, requirements for knowledge of and
information on customers of regulated entities or for regulated
activities |
| "Limitation Period" |
means the period of 6 years following termination of this
Agreement |
| "Merchant" |
a retailer or any other person that accepts e-money; |
| "Payment Services" |
means all payment and e-money services and any related services
available to the Customer |
| "Personalised Card" |
a physical pre-paid personalised payment card which may be used
for on-line and off-line Transactions;
|
| "Primary Card" |
the first Card issued by us to the Customer in response to
registration of the Account |
| "Reload" |
to add money to your Account; |
| "Schemes" |
MasterCard or Visa as the case may be and as shown on your
Card; |
| "Transaction" |
realising or attempting to make: (i) a payment, or a purchase
of goods or services from a Merchant where payment is made (in
whole or in part) by use of the Services, including where payment
is made over the internet, by phone or mail order or (ii) a cash
withdrawal made from an ATM or bank using your Personalised Card
plus any transaction fees charged by ourselves or any third party
in connection with your cash withdrawal; |
| "Username and Password" |
a set of personal codes selected by the Customer to access
their Payment Services |
| "Virtual Card" |
a non-physical pre-paid electronic payment card, the use of
which is limited to on-line purchases or on the phone or mail
order; |
| "we", "us" or "our" |
White Eagle (Europe) Plc as the Program Operator and
Transact Network Limited as the e-money issuer; |
| "you" or "your" |
the Customer and/or any person over 18 years of age who has
been provided with a Card by the Customer for use as an Additional
Cardholder in accordance with these Terms and Conditions. |
2. Contact Us:
Your Cards can be managed online at www.freedom-card.co.uk or call +44 (0)207 147 1603 to
report your Cards lost or stolen.
At any time during the contractual relationship you shall have
the right to receive, on request, these terms and conditions free
of charge.
3. Your Agreement, Card and
Account
3.1. Your Card is issued and the Payment
Services are provided by Transact Network Limited, a registered
company in Gibraltar, Company Registration No. 96561. Authorised
and regulated as an e-money issuer by the Gibraltar Financial
Services Commission. Registered Office: Suite 51, Victoria House,
26 Main Street, Gibraltar. Website: www.transactnetwork.com. Email: info@transactnetwork.com
3.2. Details of the Issuer's authorisation by
the Gibraltar Financial Services Commission are available on the
Commission's public register at www.fsc.gi/fsclists/
3.3. Your Card is operated by White Eagle
(Europe) Plc who act as a Payment Services Agent of Transact
Network Limited.
3.4. Transact Network Limited is licensed as a
principal member with the Systems. MasterCard is a registered
trademark of MasterCard International Incorporated.
3.5. These terms and conditions govern the
relationship between us and you for the provision of the Services
by us to you. This Agreement also contains important warnings and
information that may affect your rights and your ability to recover
your money. By activating your Account, you shall be deemed to have
accepted and fully understood the terms and conditions set out in
this Agreement and you agree to comply with these by your use of
the Card and/or by indicating your acceptance.
3.6. Your Card is not a credit card and is not
issued by a bank. When you purchased your Card, you had the option
of an Instant Card, a Virtual Card or a Personalised Card. If you
purchased a Virtual Card, you may upgrade for a fee at any time to
a Personalised Card. When you upgrade, you will have the option of
keeping your Virtual Card account open or closing it and only using
your Personalised Card. Regardless of the type of Card(s) you have,
you will have only one Account where your Available Balance is
located.
3.7. Your Payment Services will not be
activated unless we have been provided with the required
information so that we may identify you and can comply with all
applicable KYC and anti-money laundering requirements. We shall
keep records of such information and documents in accordance with
all applicable legal and regulatory requirements.
3.8. You may Reload subject to the limits
provided by the Fees & Limits Schedule. We reserve the right to
vary these limits and to decline any Reload at any time. A
Reloading Fee applies.
3.9. Reference to a currency (e.g. Euros € or
Sterling £) shall mean that amount or the local currency equivalent
in which your Card is denominated.
3.10. The Available Balance on your Card
and/or Account will not earn any interest.
3.11. The Payment Services are prepaid payment
services and not a credit or bank product, you must therefore
ensure that you have a sufficient Available Balance to pay for each
purchase, payment or cash withdrawal that you make using the
Services (including value added tax and any other taxes, charges
and fees that are applicable). If for any reason a Transaction is
processed and the Transaction amount exceeds the Available Balance,
you must repay us the amount of such excess immediately and we
shall be entitled to stop any existing or subsequent Transactions
from proceeding.
3.12. This Agreement does not give you any
rights against a System, its affiliates or any third party.
3.13. 1.1. Only
persons over 18 years of age are entitled to register for the
Payment Services. However, if you are the Customer you may allow
the Payment Services to be accessed by a person for whom you are
legally responsible who is under 18 years of age in accordance with
5.8. Transactions by persons under 18 years of age may not be
allowed by some Merchants. In all cases, you shall be responsible
for any use of the Payment Services by such persons.
4. Service Limits
Transactions may be restricted by Card type, individual usage
patterns and payment risk profiles. For anti-money laundering and
anti-fraud reasons we reserve our rights to change particular
payment restrictions (including from those published or included
herein) without notice and to the extent required to safeguard your
Account and meet our regulatory obligations.
5. Use of the Payment
Services
5.1. You can use thePayment Services up
to the amount of the Available Balance for Transactions at
Merchants of the relevant System. If the Available Balance is
insufficient to pay for a Transaction, some Merchants will not
permit you to combine use of a Card or Account with other payment
methods.
5.2. Your Card (other than the Virtual Card)
can be used to make cash withdrawals from ATMs and banks who agree
to provide this service, as listed in the Fees & Limits
Schedule (subject to any maximum set by the relevant ATM operator
or bank), unless we inform you otherwise.
5.3. The value of each Transaction and the
amount of any fees or charges payable by you under this Agreement
will be deducted from the Available Balance.
5.4. Once a Transaction is Authorised it
cannot be withdrawn. Within the EEA we will ensure transfer of the
payment to the payment service provider of the Merchant within
three business days. If the payment service provider of the
Merchant is located outside the EEA, we will effect payment as soon
as possible.
5.5. In order to protect you and us from
fraud, Merchants and ATM operators will seek electronic
authorisation before processing any Transaction. If a Merchant or
ATM operator is unable to get an electronic authorisation, they may
not be able to authorise your Transaction.
5.6. We may refuse to authorise any use of the
Services which could breach these terms and conditions or if we
have reasonable grounds for suspecting that you or a third party
have committed or are planning to commit fraud or any other illegal
or un-permitted use of the Payment Services.
5.7. The Payment Services will incur fees
based upon the Fees & Limits Schedule. A Transaction Fee is
payable in respect of each Transaction. A Cash Withdrawal Fee is
payable in respect of cash withdrawals made at ATMs using your
Card. In addition, your withdrawal may also be subject to any
applicable fees, rules and regulations of the relevant ATM operator
or bank. It is your responsibility to check whether any such
additional fees apply, as they cannot be refunded once the cash has
been withdrawn.
5.8. As the Customer, you may apply to us for
up to 3 Additional Cards, for use by Additional Cardholders on your
account. Additional Cardholders whom are your children or you are
their legal guardian must be 13 years old or older and Additional
Cardholders whom are not your children or you are not their legal
guardian must be 18 years or older. It is a condition of any
registration for an Additional Card that you, as the Customer,
acknowledge that we accept no responsibility or liability of any
kind whatsoever for use of any Additional Card by any Additional
Cardholder for illegal Transactions and/or Transactions not
authorised by you. If you successfully register, we will send
you an Additional Card, for which we will charge an Additional Card
Fee. Upon receipt of the Additional Card, you may give the
Additional Card to the Additional Cardholder for their use, subject
to:
i. you providing them with a copy of these
terms and conditions (which will then bind both of you);
ii. the Additional Card then being used only
by that person;
iii. you retaining the Primary Card;
iv. you informing the Additional Cardholder
that you have retained the Primary Card and that you are still able
to use the Account;
v. us obtaining such further information and
documentation in order to enable us to comply with all applicable
KYC and anti-money laundering requirements.
5.9. You (the Customer) will remain
responsible for the use of the Payment Services, and for any fees
and charges incurred by the Additional Cardholder(s), and you will
continue to be regarded as the holder of any funds already or
subsequently loaded on the Account. The use of a Card in relation
to which an Additional Cardholder has been registered will be
regarded as confirmation that you have provided the Additional
Cardholder with these Terms and Conditions and they have accepted
them. You will remain responsible for any Transactions, cash
withdrawals from ATMs, fees and charges incurred by your Additional
Cardholders. Your Cards will have a shared purse from which all
Transactions and fees will be deducted.
5.10. Your ability to use or access the
Payment Services may occasionally be interrupted, for example if we
need to carry out maintenance on our Schemes. Please contact
Customer Services via our website to notify us of any problems you
are experiencing using your Card or Account and we will endeavour
to resolve any problem.
5.11. If enabled, you will have the option to
transfer your Available Balance from your Card or Account to other
Cards and Accounts. If you instruct us to make a transfer from your
Account to another Account, the requested amount will be debited
from your account and credited to the account you have instructed
us to transfer your Available Balance to. You will incur an Account
Transfer Fee for this transaction.
6. Condition of Use at Certain
Merchants
6.1. In some circumstances we or Merchants may
require you to have an Available Balance in excess of the
Transaction amount. For example, at restaurants you may be required
to have 15% more on your Card than the value of the bill to allow
for any gratuity or service charge added by the restaurant or
you.
6.2. In some circumstances Merchants may
require verification that your Available Balance will cover the
Transaction amount and initiate a hold on your Available Balance in
that amount, examples include rental cars. In the event a Merchant
places a pre-authorisation on your Account, you will not have
access to these funds until the Transaction is completed or
released by the Merchant which may take up to 30 days.
6.3. If you use your Card at a fueling
station, subject to Merchant acceptance, your Card may need to be
pre-authorised for a pre-determined amount in the relevant
currency. If you do not use the whole pre-authorisation or do not
have Available Balance to obtain a pre-authorisation, it is
possible that the pre-authorised amount will be held for up to 30
days before becoming available to you again.
6.4. Some Merchants may not accept payment
using our Services. It is your responsibility to check the policy
with each Merchant. We accept no liability if a Merchant refuses to
accept payment using our Payment Services.
7. Managing & Protecting Your
Account
7.1. You are responsible for your Card,
any Username, PIN number and Account passwords. Do not share your
Card or Account security details with anyone.
7.2. You must keep your Account, PIN,
Username and Password safe, and separate from your Card or any
record of your Card number and not disclose it to anyone else. This
includes:
i. memorising your PIN as soon as you receive it, and destroying
the post mail or other authorised communication used to transmit it
to you;
ii. never writing your PIN on your Card or on anything you usually
keep with your Card;
iii. keeping your PIN secret at all times, including by not using
your PIN if anyone else is watching;
iv. not disclosing your PIN to any person, except that you may
disclose the PIN orally (but not in writing) to a person authorised
(by clause 5.8) to use your Card or Account
7.3. The user of the Card(s) must sign
the signature strip on any Personalised Card immediately when
received. If your Card permits cash withdrawals, we will provide
the Customer by post or other approved method with a Personal
Identification Number (PIN) for use with your Card. You will need
this PIN in order to make cash withdrawals from an ATM or at a
bank.
7.4. If you forget your PIN, you should
contact Customer Services for a replacement PIN, which will be sent
out to the Customer. A Pin Replacement Fee will be charged if your
PIN has to be remailed to you due to failure to keep us notified of
your correct primary address.
7.5. The Customer already held or
created a Username and Password when ordering a Primary Card. You
will need this Username and Password to perform the following
functions in relation to your Payment Services online:
i. changing your registered details;
ii. checking the amount of Available Balance;
iii. checking Transaction details;
iv. requesting an upgrade or Additional Card (when
available);
v. reporting your Card as lost or stolen;
vi. changing your Username or Password.
7.6. The Payment Services may only be
used by the Customer or any Additional Cardholder.
7.7. Other than as specified in 7.6, you
must not give the Card to any other person or allow any other
person to use the Payment Services. You must keep the Card in a
safe place.
7.8. Failure to comply with clause 7.2
may affect your ability to claim any losses in the event that we
can show that you have intentionally failed to keep the information
safe or you have acted fraudulently, with undue delay or with gross
negligence. In all other circumstances your maximum liability shall
be as set out below at clause 14.
7.9. If you believe that someone else
knows your Account or Card security details, you should contact us
immediately.
7.10. Once any Card on your Account has expired or if it is
found after you have reported it as lost or stolen you agree to
destroy your Card(s) by cutting them in two through the magnetic
strip.
8. Identity Verification
8.1. If you enter into Transactions over the
internet, some websites require you to enter your name and address.
In such cases you should supply the most recent address which has
been registered with us by the Customer as the Account address. The
Account address is also the address to which we will send any
correspondence.
8.2. The Customer must notify us within 7 days
of any change in the Account address or your other contact details.
You can notify us by updating your profile online or by contacting
Customer Services who may require you to confirm such notification
in writing. You will be liable for any loss that directly results
from any failure to notify us of such a change as a result of undue
delay, your gross negligence or fraud. We will need to verify your
new Account address and shall request the relevant proofs from
you.
8.3. We reserve the right at any time to
satisfy ourselves as to your identity and home address (for
example, by requesting relevant original documents) including for
the purposes of preventing fraud and/or money laundering. In
addition, at the time of your application or at any time in the
future, in connection with your Account, you authorise us to
perform electronic identity verification checks directly or using
relevant third parties.
9. Communications Regarding Your
Account
We will not send you a paper statement unless requested.
However, you can check your Available Balance and Transaction
history at any time by logging on to your account. The online
service is free and you can subscribe to different forms of Account
statements there.
10. Cancelling the
Services
10.1. If you are the Customer and you wish to
cancel the Payment Services at any time, you must request
cancellation online by sending an e-mail customerservice@freedom-card.co.uk informing us
of your wish to cancel and to claim a refund of your unused funds.
You must e-mail us from the e-mail address you provided when
registering your Account. Our Customer Services department will
then suspend all further use of your Payment Services.
10.2. Once we have received all the necessary
information from you (including KYC) and all Transactions and
applicable fees and charges have been processed, we will refund to
the Customer any Available Balance less any fees and charges
payable to us, provided that:
i. you have not acted fraudulently or with
gross negligence or in such a way as to give rise to reasonable
suspicion of fraud or gross negligence; and
ii. we are not required to withhold your
Available Balance by law or regulation, or at the request of the
police, a court or any regulatory authority.
10.3. Once the Services have been cancelled,
it will be your responsibility to destroy your Card(s).
10.4. If, following reimbursement of your
Available Balance, any further Transactions are found to have been
made or charges or fees incurred using the Card(s) or we receive a
reversal of any prior funding transaction, we will notify you of
the amount and you must immediately repay to us such amount on
demand as a debt.
11. Right to Cancel
("Cooling-Off')
You have a right to withdraw from this Agreement under the
following conditions:
11.1. where you purchased the Services by mail
order, internet, fax, digitally or by email then you have a
"Cooling Off" period of 14 days beginning on the date of the
successful registration of your Account to withdraw from this
Agreement and cancel the Services, without any penalty but subject
to deduction of any reasonable costs incurred by us in the
performance of any part of the provision of services before you
cancel. You must contact us within this 14 day period and inform us
that you wish to withdraw from this Agreement and you must not use
the Services. We will then cancel the Services and reimburse the
amount of Available Balance on the Account to the Customer.
However, we reserve the right to hold Available Balance for up to
30 business days from receipt of your instructions before returning
the balance, to ensure that details of all transactions have been
received. If you used a credit or debit card to purchase and/or
load your Card or Account, we may hold your funds for a reasonable
period as is required to prevent any chargeback of your credit or
debit card.
11.2. After the Cooling Off period you may
only cancel the Payment Services as described in clause 10
above.
12. Expiry &
Redemption
12.1. Your Card has an expiry date printed on
it. The funds on your Account will no longer be usable following
the expiry date of the most recent Card that was issued under the
Account ("Expiry Date").
12.2. The Payment Services and this Agreement shall
terminate on the Expiry Date unless you request or are issued with
a replacement Card prior to the Expiry Date in accordance with
clause 12.4 or unless we otherwise agree to continue providing
Payment Services to you following the Expiry Date
12.3. You may not use your expired Card(s)
after the Expiry Date.
12.4. If a Card expires before your Available
Balance is exhausted, you can contact Customer Services to request
a replacement Card, provided you do so 14 days before the Expiry
Date and subject to payment of a fee (where specified).
12.5. Notwithstanding any Expiry Date your
funds are available for redemption by contacting us at any time
before the end of the Limitation Period. After the Limitation
Period your funds will no longer be redeemable to you.
12.6 Provided that your request for
redemption is made less than 12 months following the Expiry Date
redemption will not incur any Late Redemption Fee. In the event
that you make a request for redemption more than 12 months after
the Expiry Date and before termination of the contract an Account
Closure Fee may be charged (where specified).
12.7. Additional Cardholders' Cards will
expire on the expiry date as shown on the Customer's Primary
Card.
12.8. We reserve the right to issue you with a
replacement for an expired Card even if you have not requested one.
If we do so, clause 12.4 will not apply. If you have not requested
a replacement Card, you will not be charged a Card Replacement Fee
as set out in the Fees & Limits Schedule.
12.9. We shall have the absolute right to
set-off, transfer, or apply sums held in the Account(s) or Cards in
or towards satisfaction of all or any liabilities and fees owed to
us that have not been paid or satisfied when due.
13. Termination or Suspension of Payment
Services
13.1. We may terminate your use of the Payment
Services with prior notice of at least 2 months.
13.2. Your use of the Payment Services
will be terminated following the Expiry Date in accordance with
clause 12.2.
13.3. We may terminate or suspend, for
such period as may reasonably be required, your use of the Payment
Services at any time, without prior notice:
i. in the event of any fault or failure in the data information
processing system;
ii. if we reasonably believe that you have used or are likely to
use the Payment Services, or allow them to be used, in breach of
this Agreement or to commit an offence;
iii. if any Available Balance may be at risk of fraud or
misuse;
iv. if we suspect that you have provided false or misleading
information;
v. by order or recommendation of the police or any relevant
governmental or regulatory authority.
13.4. If any Transactions are found to
have been made or charges or fees incurred using your Card after
any action has been taken by us under clause 13.1, the Customer
must immediately repay such amounts to us.
14. Loss or Theft of your
Card
14.1. You are responsible for protecting your
funds as if they were cash.
14.2. You should treat your funds like cash in
your wallet and look after it accordingly.
14.3. If your Card is lost or stolen or if you
think someone is using the Payment Services without your permission
or if your Card is damaged or malfunctions:
i. you must contact us as soon as possible and you must provide
us with your Account or Card number and either your Username and
Password or some other identifying details acceptable to us so that
we can be sure we are speaking to you; and
ii. provided we have obtained the Customer's consent to close the
Account, we will then provide the Cardholder with a replacement
Card with a corresponding new Account loaded with an amount
equivalent to your last Available Balance.
14.4. You will be liable up to a maximum of
the first £50 of losses arising from any unauthorised Transactions
that take place prior to your notifying us of the loss or theft. If
our investigations show that any disputed transaction was
authorised by you, or you have acted fraudulently or with gross
negligence (for example by failing to keep your Prepaid Card or PIN
secure), we may reverse any refund made and you may be liable for
any loss we suffer because of the use of the Prepaid Card. We may
also charge you the Investigation Fee specified in the Fee
Schedule. You will not be held liable for any losses once you have
notified us of loss or theft unless we reasonably determine that
you have acted in accordance with clause 16.1.ii.f.2 - in which
case you shall be liable for all losses.
14.5. Once we have been notified of any
loss or theft, we will suspend the Payment Services as soon as we
are able, to limit any further losses. We can only take steps to
prevent unauthorised use of the Payment Services if you can provide
us with the Account or Card number and Username and Password or if
you can produce sufficient details to identify yourself and the
relevant Account.
14.6. Replacement Cards will be posted to the
most recent Account address registered by the Cardholder. Failure
to provide the correct address will result in a Card Replacement
Fee.
14.7. If you subsequently find or retrieve a
Card that you have reported lost or stolen, you must immediately
destroy the found Card by cutting it in half through the magnetic
stripe.
14.8. You agree to help us, our agents,
regulatory authorities and the police if your Card is lost, stolen
or if we suspect that the Services are being misused.
15. Fees & Foreign
Exchange
15.1. The Payment Services will incur fees and
charges as set out in the Fees & Limits Schedule for which you
shall be responsible. These vary depending on the products
you use and from time to time in accordance with that Schedule.
15.2. We will deduct any value added tax, and
other taxes, charges and fees due by you to us from the Available
Balance. If there is no Available Balance, or value added tax and
other taxes, charges and fees incurred exceed the Available
Balance, you must pay us the excess immediately.
15.3. If you use the Payment Services in a
currency other than the currency in which the Payment Services are
denominated, the amount deducted from your Available Balance will
be the amount of the Transaction converted to your Account currency
using a rate set by the System on the date the Transaction is
processed which rate may be applied without notice. Please refer to
the MasterCard or Visa website (as applicable) for more
information. You may also be charged a Foreign Exchange Charge as
set out in the Fees & Limits Schedule.
16. Our liability
16.1. Subject to clauses 16.2 and 14.4;
i. neither party shall be liable to the other
for indirect or consequential loss or damage (including without
limitation loss of business, profits or revenues), incurred in
connection with this Agreement, whether arising in contract, tort
(including negligence), breach of statutory duty or otherwise;
ii. we shall not be liable:
a if you are unable to use the Services as set
out or for any reason stated in clauses 4 and 10;
b for any fault or failure beyond our
reasonable control relating to the use of the Services, including
but not limited to, a lack of Available Balance or fault in or
failure of data processing systems;
c if a Merchant refuses to accept a
Transaction or fails to cancel an authorization or
pre-authorisation;
d for the goods or services that are purchased
with your Card;
e for any loss, fraud or theft that is
reported more than 13 months following the event;
f where you or an Additional Card-holder acted
with
16.1.ii.f.1 undue delay,
16.1.ii.f.2 fraudulently; or
16.1.ii.f.3 with gross negligence (including where losses arise
due to your failure to keep us notified of your correct personal
details).
16.2. To the fullest extent permitted by
relevant law, and subject to clause 14.4, our total liability under
or arising from this Agreement shall be limited as follows:
i. where your Card is faulty due to our
default, our liability shall be limited to replacement of the Card
or, at our choice, repayment to you of the Available Balance;
ii. where sums are incorrectly deducted from
your Available Balance due to our fault, our liability shall be
limited to payment to you of an equivalent amount; and
iii. in all other circumstances of our
default, our liability will be limited to repayment of the amount
of the Available Balance.
16.3. Nothing in this Agreement shall exclude
or limit either Party's liability in respect of death or personal
injury arising from that party's negligence or fraudulent
misrepresentation.
16.4. No party shall be liable for, or be
considered in breach of this Agreement on account of, any delay or
failure to perform as required by this Agreement as a result of any
causes or conditions which are beyond such Party's reasonable
control and which such Party is unable to overcome by the exercise
of reasonable diligence.
17. Refunds for Transactions
17.1. A Transaction shall be considered to be unauthorised
if you have not given your consent for the Transaction to be made.
If you believe that a Transaction has been made without your
consent you should contact us in accordance with clause 2.
17.2. A claim for a refund of an authorised Transaction
must be made within 8 weeks from the date on which the funds were
deducted from your Available Balance. Within 10 Business Days of
receiving your claim for a refund we will either refund the full
amount of the Transaction or provide you with justification for
refusing the refund.
17.3. A claim for a refund for an unauthorised or
incorrectly executed transaction must be made without undue delay
and in any event no later than 13 months from the date of the
transaction.
17.4. If you are not satisfied with the justification
provided for refusing the refund or with the outcome of your claim
for a refund, you may submit a complaint to us or contact the
complaints authority as described in clause 19.
18. Payment Charges & Re-imbursement of
Costs
18.1. We may charge fees in connection with any of our
services and facilities that you have made use of or requested
based on our Schedule of Fees.
18.2. Where any request, transaction, disputed
transaction, arbitration or reversed transaction involves third
party costs you remain liable for these and they will be deducted
from your account or otherwise charged to you.
18.3. We may charge you an Administration Charge in the
following circumstances:
i. in the event that you make any payment to us that is
subsequently reversed after 60 days due to inadequate account
information or inadequate KYC documentation;
ii. in the event of a request for arbitration of a
disputed Transaction;
iii, to cover our costs and expenses in providing you with
manual support on your account (e.g. a request for legal, police,
court or other judicial support).
18.4. We may charge you a Reverse Payment Charge where a
receiving bank declines receipt of a payment following a request to
transfer your funds.
19. Payment Disputes
19.1. We aim to provide customers with easy
access to our customer services team who receive record,
investigate and respond to complaints.
19.2. We take complaints very seriously and
value the opportunity they provide to assist us with reviewing the
way we do business and helping us meet our customers'
expectations. Our primary aim is to resolve any
complaints that you may have as quickly and effectively as we can
and consequently have documented the steps to be taken below.
19.3. In the first instance, your initial
communication will be with our Customer Care Team. We expect our
Customer Care Team to respond to your complaint within five working
days.
19.4. If having received a response from our
Customer Care Team you are unhappy with the outcome, please contact
the Complaints Officer of Transact Network Limited directly in
writing via email on complaints@transactnetwork.com
19.5. If the Complaints Officer is
unable to respond to your complaint immediately, you will receive
confirmation that your complaint has been received and a formal
investigation will be conducted. It is anticipated that you
will receive a formal response of their findings within four
weeks.
19.6. If the Complaints Officer of
Transact Network Limited is unable to resolve your complaint and
you wish to escalate your complaint further, please contact the
Payment Services Team, Financial Services Commission, PO Box 940,
Suite 3 Ground Floor, Atlantic Suites, Europort Avenue, Gibraltar
in writing via email on psdcomplaints@fsc.gi for
further guidance.
19.7. You must provide us with all
receipts and information that are relevant to your claim.
19.8. If our investigation shows that we
have incorrectly deducted money from your Available Balance, we
shall refund the amount to you. If we subsequently establish that
the refunded amount had been correctly deducted, we may deduct it
from your Available Balance and may charge you an Investigation
Fee. If you do not have sufficient Available Balance, you must
repay us the amount immediately on demand.
19.9. In relation to any dispute between
the Cardholder and a Merchant, provided you are able to satisfy us
that you have already made all efforts to resolve the dispute with
the relevant Merchant, we will attempt to assist you so far as is
reasonably practicable. We may charge you a Chargeback Processing
fee as referenced in the Fees & Limits Schedule for any such
assistance we may give you with any such dispute. If there is
an un-resolvable dispute with a Merchant in circumstances where the
Card has been used for a Transaction, you will be liable for the
Transaction and will have to resolve this directly with the
relevant Merchant.
20. Personal Data
20.1. We are the data controller for your
personal data and will process personal data given to us in
connection with your Account in order to administer your Account
and provide you with services relating to the Account and this
Agreement. We may also use your personal data for marketing
purposes and for market research purposes, in accordance with
applicable legislation and our Privacy Policy.
20.2. We may check your personal data with
other organisations, and obtain further information about you in
order to verify your identity and comply with applicable money
laundering and governmental regulations. A record of our enquiries
will be left on your file. In accordance with our Privacy Policy
and applicable legislation, we may provide personal data supplied
by you to certain named third parties (including data processors)
for the purpose of performing our obligations and exercising our
rights under this Agreement, including third parties located
outside the European Union where different data protection
standards may apply. We may also disclose your personal data as
required by law or any competent authority.
20.3. By agreeing to these terms and conditions, you
acknowledge and agree to our processing of your personal data in
this way.
20.4. You have also seen our Privacy Policy
document and acknowledge and agree to the provisions thereof (as
amended from time to time).
21. Changes to the Terms and
Conditions
We may update or amend these terms and conditions (including our
Fees & Limits Schedule). Notice of any changes will be given on
the website or by notification by e-mail or by means of mobile
device at least 2 months in advance. By continuing to use the
Payment Services after the expiry of the 2 month notice period, you
acknowledge that you indicate your acceptance to be bound by the
updated or amended terms and conditions. If you do not wish to be
bound by them, you should stop using the Payment Services
immediately in accordance with our cancellation policy (see clause
10).
22. Miscellaneous
22.1. We may assign our rights, interest or
obligations under this Agreement to any third party (including by
way of merger, consolidation or the acquisition of all or
substantially all of our business and assets relating to the
Agreement) upon 2 month's written notice. This will not adversely
affect your rights or obligations under this Agreement.
22.2. We do not intend that any of the terms
of this Agreement will be enforceable by a person not a party to
it, except that Systems and their affiliates may enforce any right
granted to it under this Agreement.
22.3. Any waiver or concession we may allow
you will not affect our strict rights and your obligations under
this Agreement.
22.4. The Customer and any Additional
Cardholders agree that they will not use the Services in an illegal
manner and you agree to indemnify us against any claim or
proceeding brought about by such illegal use of the Services
22.5. This Agreement, and the documents
referred to in it, constitute the entire agreement and
understanding of the parties and supersede any previous agreement
between the parties relating to the subject matter of this
Agreement.
23. Funds Protection
Your funds are safeguarded by law. In the event that Transact
Network Limited became insolvent your e-money funds are protected
against claims made by any other creditors.
24. Regulation & Law
24.1. The Payment Services, Card and Account
are payment products and not deposit, credit or banking products,
as such they are not covered by the Gibraltar Deposit Guarantee
Scheme.
24.2. To the fullest extent permitted by law
and without affecting your legal rights as a consumer, this
Agreement and any dispute or claim arising out of or in connection
with it or its subject matter or formation (including
non-contractual disputes or claims) shall be governed by, and
construed in accordance with, the laws of England & Wales and
the courts of England & Wales shall have exclusive jurisdiction
in relation to the same.
25. Credit Booster
This is a free service that is only available in conjunction
with the monthly tariff scheme. By choosing to opt into this
free service you agree to a report illustrating your payment
history being sent to Equifax on a monthly basis. This free
service may help improve your credit rating when all monthly
payments are up to date. We reserve the right to opt
you out of this service at any time. We cannot accept any
liability for how this report may affect your credit report.
You may opt out of this free service for free at any time from your
online account or by contacting customer services. Please
note your payment history may be reported to Equifax up to one
month after you have opted out of this free service.
26. If you purchase your Card using a
debit card and your Account balance subsequently becomes negative
you authorise us to claim the amount of the negative balance from
your debit card.
27.
Fees Schedule
| |
PAY-As-You-Go |
Unlimited |
| On
Application |
|
|
| Card Issue Fee |
£5.99 |
£5.99 |
| Card Issue Fee Personalised Card |
£7.99 |
£7.99 |
| Additional Card Fee |
£4.99 |
£4.99 |
| Minimum load limit |
£10.00 |
£10.00 |
| On going
Features |
|
|
| Purchase transaction fee (UK/Overseas) |
£0.50 |
FREE |
| Foreign Exchange |
2.75% |
2.75% |
| Cash Withdrawal (UK) |
1.5% (min £1, max £1.50) |
FREE |
| Cash Withdrawal (overseas) |
£2.50 |
£1.50 |
| Balance Enquiry |
FREE |
FREE |
| SMS Fee |
£0.30 |
£0.30 |
| IVR Fee |
£0.30 |
FREE |
| Top Up
Fees: |
|
|
| PayPoint Load |
3% |
3% |
| Post Office Load |
2% |
FREE |
| Bank Load |
£1.00 |
FREE |
| Other
Fees: |
|
|
| Monthly Fee |
N/A |
£6.95 |
| Replacement Card Fee |
£4.99 |
£4.99 |
| Dormancy Fee (after 60 days) |
£2.00 |
£2.00 |
| Money Share |
£0.30 |
FREE |
| Person2Person |
£1.50 |
FREE |
| Failed Transaction Fee |
£0.30 |
0.30 |
| Credit Booster |
N/A |
FREE |
| Account Maintenance |
£1.00 |
N/A |
| Customer Service Fee (options 7) |
£1.00 |
£1.00 |
| Standing Orders |
£1.00 |
FREE |
| Failed Standing Orders |
£1.00 |
£1.00 |
| Tariff Change |
£2.50 |
£2.50 |
| PIN Change |
£1.00 |
£1.00 |
| Investigation Fee |
£25.00 |
£25.00 |
|
Closure |
|
|
| Cancellation Fee |
£10.00 |
£10.00 |
| Expiry |
Valid up to 3 years |
Valid up to 3 years |
| Usage
Restrictions |
Non ID
Verified |
ID
Verified |
| Maximum Card Balance |
£1,650 |
£5,000 |
| Maximum POS Transaction |
£1,650 |
£5,000 |
| Daily cash withdrawal amount |
£150 |
£500 (£200 in a single transaction) |
| Daily Load Amount |
£1,650 |
£5,000 |