TERMS OF USE

Last updated June 07, 2021

AGREEMENT TO TERMS

These Terms of Use constitute a legally binding agreement made between you, whether personally or on behalf of an entity (“you”) and Switch Reward Card UK LTD., doing business as Switch (“Switch“, “we”, “us”, or “our”), concerning your access to and use of the http://switchkyc.co.uk website as well as any other media form, media channel, mobile website or mobile application related, linked, or otherwise connected thereto (collectively, the “Site”). You agree that by accessing the Site, you have read, understood, and agreed to be bound by all of these Terms of Use. IF YOU DO NOT AGREE WITH ALL OF THESE TERMS OF USE, THEN YOU ARE EXPRESSLY PROHIBITED FROM USING THE SITE AND YOU MUST DISCONTINUE USE IMMEDIATELY.

Supplemental terms and conditions or documents that may be posted on the Site from time to time are hereby expressly incorporated herein by reference. We reserve the right, in our sole discretion, to make changes or modifications to these Terms of Use at any time and for any reason. We will alert you about any changes by updating the “Last updated” date of these Terms of Use, and you waive any right to receive specific notice of each such change. It is your responsibility to periodically review these Terms of Use to stay informed of updates. You will be subject to, and will be deemed to have been made aware of and to have accepted, the changes in any revised Terms of Use by your continued use of the Site after the date such revised Terms of Use are posted.

The information provided on the Site is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. Accordingly, those persons who choose to access the Site from other locations do so on their own initiative and are solely responsible for compliance with local laws, if and to the extent local laws are applicable.

The Site is intended for users who are at least 18 years old. Persons under the age of 18 are not permitted to use or register for the Site.

INTELLECTUAL PROPERTY RIGHTS

Unless otherwise indicated, the Site is our proprietary property and all source code, databases, functionality, software, website designs, audio, video, text, photographs, and graphics on the Site (collectively, the “Content”) and the trademarks, service marks, and logos contained therein (the “Marks”) are owned or controlled by us or licensed to us, and are protected by copyright and trademark laws and various other intellectual property rights and unfair competition laws of the United States, international copyright laws, and international conventions. The Content and the Marks are provided on the Site “AS IS” for your information and personal use only. Except as expressly provided in these Terms of Use, no part of the Site and no Content or Marks may be copied, reproduced, aggregated, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted, distributed, sold, licensed, or otherwise exploited for any commercial purpose whatsoever, without our express prior written permission.

Provided that you are eligible to use the Site, you are granted a limited license to access and use the Site and to download or print a copy of any portion of the Content to which you have properly gained access solely for your personal, non-commercial use. We reserve all rights not expressly granted to you in and to the Site, the Content and the Marks.

USER REPRESENTATIONS

By using the Site, you represent and warrant that: (1) all registration information you submit will be true, accurate, current, and complete; (2) you will maintain the accuracy of such information and promptly update such registration information as necessary; (3) you have the legal capacity and you agree to comply with these Terms of Use; (4) you are not a minor in the jurisdiction in which you reside; (5) you will not access the Site through automated or non-human means, whether through a bot, script, or otherwise; (6) you will not use the Site for any illegal or unauthorized purpose; and (7) your use of the Site will not violate any applicable law or regulation.

If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof).

USER REGISTRATION

You may be required to register with the Site. You agree to keep your password confidential and will be responsible for all use of your account and password. We reserve the right to remove, reclaim, or change a username you select if we determine, in our sole discretion, that such username is inappropriate, obscene, or otherwise objectionable.

PROHIBITED ACTIVITIES

You may not access or use the Site for any purpose other than that for which we make the Site available. The Site may not be used in connection with any commercial endeavors except those that are specifically endorsed or approved by us.

As a user of the Site, you agree not to:

  1. 1. Systematically retrieve data or other content from the Site to create or compile, directly or indirectly, a collection, compilation, database, or directory without written permission from us.
  2. 2. Trick, defraud, or mislead us and other users, especially in any attempt to learn sensitive account information such as user passwords.
  3. 3. Circumvent, disable, or otherwise interfere with security-related features of the Site, including features that prevent or restrict the use or copying of any Content or enforce limitations on the use of the Site and/or the Content contained therein.
  4. 4. Disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site.
  5. 5. Use any information obtained from the Site in order to harass, abuse, or harm another person.
  6. 6. Make improper use of our support services or submit false reports of abuse or misconduct.
  7. 7. Use the Site in a manner inconsistent with any applicable laws or regulations.
  8. 8. Use the Site to advertise or offer to sell goods and services.
  9. 9. Engage in unauthorized framing of or linking to the Site.
  10. 10. Upload or transmit (or attempt to upload or to transmit) viruses, Trojan horses, or other material, including excessive use of capital letters and spamming (continuous posting of repetitive text), that interferes with any party’s uninterrupted use and enjoyment of the Site or modifies, impairs, disrupts, alters, or interferes with the use, features, functions, operation, or maintenance of the Site.
  11. 11. Engage in any automated use of the system, such as using scripts to send comments or messages, or using any data mining, robots, or similar data gathering and extraction tools.
  12. 12. Delete the copyright or other proprietary rights notice from any Content.
  13. 13. Attempt to impersonate another user or person or use the username of another user.
  14. 14. Sell or otherwise transfer your profile.
  15. 15. Upload or transmit (or attempt to upload or to transmit) any material that acts as a passive or active information collection or transmission mechanism, including without limitation, clear graphics interchange formats (“gifs”), 1×1 pixels, web bugs, cookies, or other similar devices (sometimes referred to as “spyware” or “passive collection mechanisms” or “pcms”).
  16. 16. Interfere with, disrupt, or create an undue burden on the Site or the networks or services connected to the Site.
  17. 17. Harass, annoy, intimidate, or threaten any of our employees or agents engaged in providing any portion of the Site to you.
  18. 18. Attempt to bypass any measures of the Site designed to prevent or restrict access to the Site, or any portion of the Site.
  19. 19. Copy or adapt the Site’s software, including but not limited to Flash, PHP, HTML, JavaScript, or other code.
  20. 20. Decipher, decompile, disassemble, or reverse engineer any of the software comprising or in any way making up a part of the Site.
  21. 21. Except as may be the result of standard search engine or Internet browser usage, use, launch, develop, or distribute any automated system, including without limitation, any spider, robot, cheat utility, scraper, or offline reader that accesses the Site, or using or launching any unauthorized script or other software.
  22. 22. Use a buying agent or purchasing agent to make purchases on the Site.
  23. 23. Make any unauthorized use of the Site, including collecting usernames and/or email addresses of users by electronic or other means for the purpose of sending unsolicited email, or creating user accounts by automated means or under false pretenses.
  24. 24. Use the Site as part of any effort to compete with us or otherwise use the Site and/or the Content for any revenue-generating endeavor or commercial enterprise.

USER GENERATED CONTRIBUTIONS

The Site does not offer users to submit or post content. We may provide you with the opportunity to create, submit, post, display, transmit, perform, publish, distribute, or broadcast content and materials to us or on the Site, including but not limited to text, writings, video, audio, photographs, graphics, comments, suggestions, or personal information or other material (collectively, “Contributions”). Contributions may be viewable by other users of the Site and through third-party websites. As such, any Contributions you transmit may be treated in accordance with the Site Privacy Policy. When you create or make available any Contributions, you thereby represent and warrant that:

  1.  The creation, distribution, transmission, public display, or performance, and the accessing, downloading, or copying of your Contributions do not and will not infringe the proprietary rights, including but not limited to the copyright, patent, trademark, trade secret, or moral rights of any third party.
    2.  You are the creator and owner of or have the necessary licenses, rights, consents, releases, and permissions to use and to authorize us, the Site, and other users of the Site to use your Contributions in any manner contemplated by the Site and these Terms of Use.
    3.  You have the written consent, release, and/or permission of each and every identifiable individual person in your Contributions to use the name or likeness of each and every such identifiable individual person to enable inclusion and use of your Contributions in any manner contemplated by the Site and these Terms of Use.
    4.  Your Contributions are not false, inaccurate, or misleading.
    5.  Your Contributions are not unsolicited or unauthorized advertising, promotional materials, pyramid schemes, chain letters, spam, mass mailings, or other forms of solicitation.
    6.  Your Contributions are not obscene, lewd, lascivious, filthy, violent, harassing, libelous, slanderous, or otherwise objectionable (as determined by us).
    7.  Your Contributions do not ridicule, mock, disparage, intimidate, or abuse anyone.
    8.  Your Contributions are not used to harass or threaten (in the legal sense of those terms) any other person and to promote violence against a specific person or class of people.
    9.  Your Contributions do not violate any applicable law, regulation, or rule.
    10.  Your Contributions do not violate the privacy or publicity rights of any third party.
    11.  Your Contributions do not contain any material that solicits personal information from anyone under the age of 18 or exploits people under the age of 18 in a sexual or violent manner.
    12.  Your Contributions do not violate any applicable law concerning child pornography, or otherwise intended to protect the health or well-being of minors.
    13.  Your Contributions do not include any offensive comments that are connected to race, national origin, gender, sexual preference, or physical handicap.
    14.  Your Contributions do not otherwise violate, or link to material that violates, any provision of these Terms of Use, or any applicable law or regulation.

Any use of the Site in violation of the foregoing violates these Terms of Use and may result in, among other things, termination or suspension of your rights to use the Site.

CONTRIBUTION LICENSE

You and the Site agree that we may access, store, process, and use any information and personal data that you provide following the terms of the Privacy Policy and your choices (including settings).

By submitting suggestions or other feedback regarding the Site, you agree that we can use and share such feedback for any purpose without compensation to you.

We do not assert any ownership over your Contributions. You retain full ownership of all of your Contributions and any intellectual property rights or other proprietary rights associated with your Contributions. We are not liable for any statements or representations in your Contributions provided by you in any area on the Site. You are solely responsible for your Contributions to the Site and you expressly agree to exonerate us from any and all responsibility and to refrain from any legal action against us regarding your Contributions.

SUBMISSIONS

You acknowledge and agree that any questions, comments, suggestions, ideas, feedback, or other information regarding the Site (“Submissions”) provided by you to us are non-confidential and shall become our sole property. We shall own exclusive rights, including all intellectual property rights, and shall be entitled to the unrestricted use and dissemination of these Submissions for any lawful purpose, commercial or otherwise, without acknowledgment or compensation to you. You hereby waive all moral rights to any such Submissions, and you hereby warrant that any such Submissions are original with you or that you have the right to submit such Submissions. You agree there shall be no recourse against us for any alleged or actual infringement or misappropriation of any proprietary right in your Submissions.

SITE MANAGEMENT

We reserve the right, but not the obligation, to: (1) monitor the Site for violations of these Terms of Use; (2) take appropriate legal action against anyone who, in our sole discretion, violates the law or these Terms of Use, including without limitation, reporting such user to law enforcement authorities; (3) in our sole discretion and without limitation, refuse, restrict access to, limit the availability of, or disable (to the extent technologically feasible) any of your Contributions or any portion thereof; (4) in our sole discretion and without limitation, notice, or liability, to remove from the Site or otherwise disable all files and content that are excessive in size or are in any way burdensome to our systems; and (5) otherwise manage the Site in a manner designed to protect our rights and property and to facilitate the proper functioning of the Site.

PRIVACY POLICY

We care about data privacy and security. Please review our Privacy Policy: http://switchkyc.co.uk/privacy-policy. By using the Site, you agree to be bound by our Privacy Policy, which is incorporated into these Terms of Use. Please be advised the Site is hosted in the United States. If you access the Site from any other region of the world with laws or other requirements governing personal data collection, use, or disclosure that differ from applicable laws in the United States, then through your continued use of the Site, you are transferring your data to the United States, and you agree to have your data transferred to and processed in the United States.

TERM AND TERMINATION

These Terms of Use shall remain in full force and effect while you use the Site. WITHOUT LIMITING ANY OTHER PROVISION OF THESE TERMS OF USE, WE RESERVE THE RIGHT TO, IN OUR SOLE DISCRETION AND WITHOUT NOTICE OR LIABILITY, DENY ACCESS TO AND USE OF THE SITE (INCLUDING BLOCKING CERTAIN IP ADDRESSES), TO ANY PERSON FOR ANY REASON OR FOR NO REASON, INCLUDING WITHOUT LIMITATION FOR BREACH OF ANY REPRESENTATION, WARRANTY, OR COVENANT CONTAINED IN THESE TERMS OF USE OR OF ANY APPLICABLE LAW OR REGULATION. WE MAY TERMINATE YOUR USE OR PARTICIPATION IN THE SITE OR DELETE YOUR ACCOUNT AND ANY CONTENT OR INFORMATION THAT YOU POSTED AT ANY TIME, WITHOUT WARNING, IN OUR SOLE DISCRETION.

If we terminate or suspend your account for any reason, you are prohibited from registering and creating a new account under your name, a fake or borrowed name, or the name of any third party, even if you may be acting on behalf of the third party. In addition to terminating or suspending your account, we reserve the right to take appropriate legal action, including without limitation pursuing civil, criminal, and injunctive redress.

MODIFICATIONS AND INTERRUPTIONS

We reserve the right to change, modify, or remove the contents of the Site at any time or for any reason at our sole discretion without notice. However, we have no obligation to update any information on our Site. We also reserve the right to modify or discontinue all or part of the Site without notice at any time. We will not be liable to you or any third party for any modification, price change, suspension, or discontinuance of the Site.

We cannot guarantee the Site will be available at all times. We may experience hardware, software, or other problems or need to perform maintenance related to the Site, resulting in interruptions, delays, or errors. We reserve the right to change, revise, update, suspend, discontinue, or otherwise modify the Site at any time or for any reason without notice to you. You agree that we have no liability whatsoever for any loss, damage, or inconvenience caused by your inability to access or use the Site during any downtime or discontinuance of the Site. Nothing in these Terms of Use will be construed to obligate us to maintain and support the Site or to supply any corrections, updates, or releases in connection therewith.

GOVERNING LAW

These conditions are governed by and interpreted following the laws of the United Kingdom, and the use of the United Nations Convention of Contracts for the International Sale of Goods is expressly excluded. If your habitual residence is in the EU, and you are a consumer, you additionally possess the protection provided to you by obligatory provisions of the law of your country of residence. Switch Reward Card UK LTD. and yourself both agree to submit to the non-exclusive jurisdiction of the courts of London, which means that you may make a claim to defend your consumer protection rights in regards to these Conditions of Use in the United Kingdom, or in the EU country in which you reside.

DISPUTE RESOLUTION

Binding Arbitration

Any dispute arising from the relationships between the parties to this contract shall be determined by one arbitrator who will be chosen in accordance with the Arbitration and Internal Rules of the European Court of Arbitration being part of the European Centre of Arbitration having its seat in Strasbourg, and which are in force at the time the application for arbitration is filed, and of which adoption of this clause constitutes acceptance. The seat of arbitration shall be London, United Kingdom. The language of the proceedings shall be English. Applicable rules of substantive law shall be the law of the United Kingdom.

Restrictions

The Parties agree that any arbitration shall be limited to the Dispute between the Parties individually. To the full extent permitted by law, (a) no arbitration shall be joined with any other proceeding; (b) there is no right or authority for any Dispute to be arbitrated on a class-action basis or to utilize class action procedures; and (c) there is no right or authority for any Dispute to be brought in a purported representative capacity on behalf of the general public or any other persons.

Exceptions to Arbitration

The Parties agree that the following Disputes are not subject to the above provisions concerning binding arbitration: (a) any Disputes seeking to enforce or protect, or concerning the validity of, any of the intellectual property rights of a Party; (b) any Dispute related to, or arising from, allegations of theft, piracy, invasion of privacy, or unauthorized use; and (c) any claim for injunctive relief. If this provision is found to be illegal or unenforceable, then neither Party will elect to arbitrate any Dispute falling within that portion of this provision found to be illegal or unenforceable and such Dispute shall be decided by a court of competent jurisdiction within the courts listed for jurisdiction above, and the Parties agree to submit to the personal jurisdiction of that court.

CORRECTIONS

There may be information on the Site that contains typographical errors, inaccuracies, or omissions, including descriptions, pricing, availability, and various other information. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update the information on the Site at any time, without prior notice.

DISCLAIMER

THE SITE IS PROVIDED ON AN AS-IS AND AS-AVAILABLE BASIS. YOU AGREE THAT YOUR USE OF THE SITE AND OUR SERVICES WILL BE AT YOUR SOLE RISK. TO THE FULLEST EXTENT PERMITTED BY LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH THE SITE AND YOUR USE THEREOF, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE MAKE NO WARRANTIES OR REPRESENTATIONS ABOUT THE ACCURACY OR COMPLETENESS OF THE SITE’S CONTENT OR THE CONTENT OF ANY WEBSITES LINKED TO THE SITE AND WE WILL ASSUME NO LIABILITY OR RESPONSIBILITY FOR ANY (1) ERRORS, MISTAKES, OR INACCURACIES OF CONTENT AND MATERIALS, (2) PERSONAL INJURY OR PROPERTY DAMAGE, OF ANY NATURE WHATSOEVER, RESULTING FROM YOUR ACCESS TO AND USE OF THE SITE, (3) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SECURE SERVERS AND/OR ANY AND ALL PERSONAL INFORMATION AND/OR FINANCIAL INFORMATION STORED THEREIN, (4) ANY INTERRUPTION OR CESSATION OF TRANSMISSION TO OR FROM THE SITE, (5) ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE WHICH MAY BE TRANSMITTED TO OR THROUGH THE SITE BY ANY THIRD PARTY, AND/OR (6) ANY ERRORS OR OMISSIONS IN ANY CONTENT AND MATERIALS OR FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF ANY CONTENT POSTED, TRANSMITTED, OR OTHERWISE MADE AVAILABLE VIA THE SITE. WE DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY A THIRD PARTY THROUGH THE SITE, ANY HYPERLINKED WEBSITE, OR ANY WEBSITE OR MOBILE APPLICATION FEATURED IN ANY BANNER OR OTHER ADVERTISING, AND WE WILL NOT BE A PARTY TO OR IN ANY WAY BE RESPONSIBLE FOR MONITORING ANY TRANSACTION BETWEEN YOU AND ANY THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES. AS WITH THE PURCHASE OF A PRODUCT OR SERVICE THROUGH ANY MEDIUM OR IN ANY ENVIRONMENT, YOU SHOULD USE YOUR BEST JUDGMENT AND EXERCISE CAUTION WHERE APPROPRIATE.

LIMITATIONS OF LIABILITY

IN NO EVENT WILL WE OR OUR DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL, OR PUNITIVE DAMAGES, INCLUDING LOST PROFIT, LOST REVENUE, LOSS OF DATA, OR OTHER DAMAGES ARISING FROM YOUR USE OF THE SITE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, OUR LIABILITY TO YOU FOR ANY CAUSE WHATSOEVER AND REGARDLESS OF THE FORM OF THE ACTION, WILL AT ALL TIMES BE LIMITED TO THE AMOUNT PAID, IF ANY, BY YOU TO US. CERTAIN US STATE LAWS AND INTERNATIONAL LAWS DO NOT ALLOW LIMITATIONS ON IMPLIED WARRANTIES OR THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES. IF THESE LAWS APPLY TO YOU, SOME OR ALL OF THE ABOVE DISCLAIMERS OR LIMITATIONS MAY NOT APPLY TO YOU, AND YOU MAY HAVE ADDITIONAL RIGHTS.

INDEMNIFICATION

You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all of our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorneys’ fees and expenses, made by any third party due to or arising out of: (1) use of the Site; (2) breach of these Terms of Use; (3) any breach of your representations and warranties set forth in these Terms of Use; (4) your violation of the rights of a third party, including but not limited to intellectual property rights; or (5) any overt harmful act toward any other user of the Site with whom you connected via the Site. Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defense of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.

USER DATA

We will maintain certain data that you transmit to the Site for the purpose of managing the performance of the Site, as well as data relating to your use of the Site. Although we perform regular routine backups of data, you are solely responsible for all data that you transmit or that relates to any activity you have undertaken using the Site. You agree that we shall have no liability to you for any loss or corruption of any such data, and you hereby waive any right of action against us arising from any such loss or corruption of such data.

ELECTRONIC COMMUNICATIONS, TRANSACTIONS, AND SIGNATURES

Visiting the Site, sending us emails, and completing online forms constitute electronic communications. You consent to receive electronic communications, and you agree that all agreements, notices, disclosures, and other communications we provide to you electronically, via email and on the Site, satisfy any legal requirement that such communication be in writing. YOU HEREBY AGREE TO THE USE OF ELECTRONIC SIGNATURES, CONTRACTS, ORDERS, AND OTHER RECORDS, AND TO ELECTRONIC DELIVERY OF NOTICES, POLICIES, AND RECORDS OF TRANSACTIONS INITIATED OR COMPLETED BY US OR VIA THE SITE. You hereby waive any rights or requirements under any statutes, regulations, rules, ordinances, or other laws in any jurisdiction which require an original signature or delivery or retention of non-electronic records, or to payments or the granting of credits by any means other than electronic means.

MISCELLANEOUS

These Terms of Use and any policies or operating rules posted by us on the Site or in respect to the Site constitute the entire agreement and understanding between you and us. Our failure to exercise or enforce any right or provision of these Terms of Use shall not operate as a waiver of such right or provision. These Terms of Use operate to the fullest extent permissible by law. We may assign any or all of our rights and obligations to others at any time. We shall not be responsible or liable for any loss, damage, delay, or failure to act caused by any cause beyond our reasonable control. If any provision or part of a provision of these Terms of Use is determined to be unlawful, void, or unenforceable, that provision or part of the provision is deemed severable from these Terms of Use and does not affect the validity and enforceability of any remaining provisions. There is no joint venture, partnership, employment or agency relationship created between you and us as a result of these Terms of Use or use of the Site. You agree that these Terms of Use will not be construed against us by virtue of having drafted them. You hereby waive any and all defenses you may have based on the electronic form of these Terms of Use and the lack of signing by the parties hereto to execute these Terms of Use.

Switch Rewards points are earned when using the card as well as referring new users to the program. When the program goes live, points will be redeemable through to be announced retail partners.

By purchasing a card you are automatically enrolled in the Switch loyalty program. This allows you to participate in the Switch rewards program.

Includes KYC 

includes loyalty program

includes rewards program

CONTACT US 

In order to resolve a complaint regarding the Site or to receive further information regarding use of the Site, please contact us at:

Switch Reward Card UK LTD.

71-75 Shelton St, London WC2H 9JQ, UK

London, England WC2H 9JQ

United Kingdom

Phone: +1 (800) 775-0890

privacy@switchkyc.co.uk

PAYRNET LIMITED

TERMS AND CONDITIONS FOR CONSUMERS

ELECTRONIC MONEY ACCOUNTS

BACKGROUND

 

This Agreement: This Agreement is with PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”, “we” “us”). Weare an Electronic Money Institution (“EMI”) and are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (“EMR 2011”) (register reference 900594) for the issuing of electronic money.

Our relationship with Paywiser: As an EMI, we have appointed Paywiser Limited as a distributor of certain of our services. A distributor means a person who distributes or redeems electronic money on behalf of an electronic money institution but who does not provide payment services on behalf of the electronic money institution (as distributor is defined in the EMR 2011).

AGREED TERMS

1. OUR TERMS
1.1. Interpreting this Agreement. In order to easily understand the terms of this Agreement, please first refer to clause 3 which, amongst other things, sets out the meaning of capitalised terms used in this Agreement.
1.2. Why you should read it? Please read this Agreement carefully before you agree to it, as its terms apply to the services provided by us. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only complete the signon procedures and agree to the terms of this Agreement if you agree to be bound by this Agreement.
2. INFORMATION ABOUT US AND HOW TO CONTACT US
2.1. Who we are. We are PayrNet Limited, an EMI as described above.
2.2. Communications between us are to be in English. This Agreement is concluded in England and all communications between you and us shall be in English only.
2.3. How to contact us. All queries should be directed towards Paywiser Limited. You can contact PayWiser Limited using details set out on www.paywiser.com.
2.4. How we may contact you. If we have to contact you we will do so as follows: in the first instance via Paywiser Limited except in urgent cases. If we have not been able to contact you through Paywiser Limited or if the matter is urgent, we will contact you by writing to you at the email address(es), you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us or the Paywiser Limited.
2.5. Writing’ includes emails. When we use the words “writing” or “written” in this Agreement, this includes emails.
2.6. Some of the services we provide are subject to the Payment Services Regulations 2017. The Regulations regulate how payments must be transmitted and provide protection for the clients of authorised payment institutions and electronic money institutions.
3. INTERPRETATION
3.1. The definitions set out in this clause apply in this Agreement as follows:

Agreement” means this agreement and the privacy policy.

Consumer“ means an individual who, in entering into this Agreement, is acting for a purpose other than a trade, business or profession.

Electronic Money” means electronically stored monetary value as represented by a claim against us.  

Regulations” means the Payment Services Regulations 2017 (SI 2017 No. 752).

Safeguarded Account” means the bank account(s) belonging to us, which are separate to our own office bank accounts, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.

Services” means the e-money account services.

3.2. Clause headings shall not affect the interpretation of this Agreement and references to clauses are to the clauses of this Agreement.
3.3. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
3.4. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
3.5. A reference to a statute or statutory provision is a reference to it as amended, extended or reenacted from time to time and reference to a statute or statutory provision shall include all subordinate legislation made from time to time.
4. TERM AND BECOMING A CLIENT
4.1. How can you agree to this Agreement? You can agree to this Agreement by checking the box online through PayWiser confirming that you agree during the registration process or by otherwise confirming the terms of this agreement.
4.2. When will you become a client of ours? You will be bound by this Agreement once you have agreed to it as set out above and this Agreement shall remain in force until terminated in accordance with its terms.
5. SERVICES
5.1. As part of the Services, we shall issue you with Electronic Money upon receipt of money from you or a third party on your behalf, store your Electronic Money and redeem Electronic Money both on your express instruction and in accordance with this Agreement and the agreement of Paywiser Limited.
5.2. Our Services do not include the provision of advice. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation, or markets.
6. ISSUING ELECTRONIC MONEY TO YOU
6.1. Where we receive money from you or on your behalf, this money will be held by us in the relevant Safeguarded Account in exchange for the issuance by us to you of Electronic Money.Your funds will not be used by us for any other purpose and in the unlikely event that we become insolvent, your e-money is protected in an EEA-authorised credit institution or the Bank of England.
6.2. When we issue you with Electronic Money, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding your money in that (i) we cannot and will not use the funds to invest or lend to other persons or entities; (ii) the Electronic Money will not accrue interest and (iii) the Electronic Money is not a deposit and is therefore not covered by the Financial Services Compensation Scheme but it is held by us and protected in the relevant Safeguarded Account.
6.3. You may hold Electronic Money and we may hold funds corresponding to your Electronic Money indefinitely. However, if we hold Electronic Money for you for more than two yearswithout any activity on the account, we shall use reasonable endeavours to contact you toredeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.
6.4. We accept no responsibility in the event that you send money to the incorrect account.
6.5. We do not accept cash or cheques. We accept monies via a variety of methods of electronic funds transfer to our bank account, the details of which we shall provide to you upon request.
7. GENERAL LIMITATION OF LIABILITY
7.1. Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.
7.2. Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.
7.3. Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.
8. COMPLAINTS
8.1. If you feel that we have not met your expectations in the delivery of our Services, in the first instance contact Paywiser Limited using the contact email address for complaints set out onwww.paywiser.com. If Paywiser Limited does not deal with your complaint adequately, please contact us via email to complaints@payr.net.
8.2. We have internal procedures for handling complaints fairly and promptly in accordance with the Financial Conduct Authority’s requirements. A copy of our complaints procedure is available upon request.
8.3. If you are an eligible complainant you may be able to take your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and information on the procedures involved are available fromhttp://www.financialombudsman.org.uk. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.
9. ESTABLISHING YOUR IDENTITY
9.1. To comply with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and EU Wire Transfer Regulations (Regulation (EU) 2015/847) and related regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity in our records from time to time. If satisfactory evidence is not promptly provided to us we cannot accept your instructions.
9.2. We may keep records of the contents and results of any searches that we carry out on you in accordance with all current and applicable laws. You acknowledge that us carrying out an electronic verification check or, if required, a credit reference agency check will leave a soft footprint on your credit history.
9.3. We are obliged to report any reasonable suspicions about activities on the electronic accounts to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.
10. TERMINATION
10.1. When we may terminate or suspend this Agreement.
10.1.1. We can terminate this Agreement at any time:
10.1.1.1. If you breach this Agreement; and/or
10.1.1.2. if we suspect that you are using the Services for any illegal purposes.
10.1.2. We may suspend or terminate your access to the Services where we have reasonable grounds for concern relating to: (i) the security of your account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).
10.1.3. If Paywiser Limited notifies us that its agreement with you has terminated we can terminate this agreement with immediate effect.
10.1.4. If you terminate your agreement with Paywiser Limited, or that agreement is terminated, we can terminate this Agreement with immediate effect.
10.1.5. If our agreement with Paywiser Limited terminates, we will give you not less than two (2) month’s written notice to terminate this Agreement.
10.1.6. We may terminate this Agreement at any time and for any reason by giving you not less than two (2) month’s written notice.
10.2. When you may terminate this Agreement. You can terminate this Agreement at any time and for any reason by cancelling your agreement with Paywiser Limited. We may contact you to confirm your request.
10.3. Effect of Termination. Upon the effective date of termination:
10.3.1. you will no longer be able to avail yourself of the Services;
10.3.2. we shall redeem any Electronic Money we hold for you and send the equivalent funds to a bank account in your name, unless agreed by both parties, less any monies which are due and owing to us.
10.4. After termination, you may contact us using the contact details set out in clause 2.3 to redeem any Electronic Money you still hold with us.
11. CONFIDENTIALITY
11.1. We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:
11.1.1. to our employees, officers, representatives or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives or advisers to whom we disclose your confidential information comply with this clause; and
11.1.2. as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
12. HOW WE MAY USE YOUR PERSONAL INFORMATION
12.1. How we may use your personal information. We will only use your personal information as set out in our privacy policy which can be found https://railsbank.com/payrnet. (Payrnet is a wholly owned subsidiary of Railsbank Technology Limited).
13. GENERAL
13.1. Recording of telephone conversations. We may record telephone conversations with or without use of a warning tone and we may use these recordings as evidence for a particular purpose or in relation to disputes as well as for our ongoing quality control and training programme. We may also maintain a record of all emails sent by or to us. All those recordings and records will be maintained at our absolute discretion and are our property and can be used by us in the case of a dispute. We do not guarantee that we will maintain such recordings or records or be able to make them available to you. You consent to the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.
13.2. Ensuring this Agreement is legally enforceable. For a contract to be legally enforceable, there needs to be an offer, acceptance and consideration. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer. In order to ensure that this Agreement is legally binding, upon you becoming a client, you promise to pay us the sum of onePound sterling, upon demand from us, as consideration.
13.3. Even if we delay in enforcing under this Agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
13.4. What if something unexpected happens? We shall have no liability to you under this Agreement or any Contract if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lockouts or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of subcontractors, provided that you are notified of such an event and its expected duration.
13.5. If a court finds part of this Agreement illegal, the rest will continue in force. Each of the subclauses, clauses and paragraphs of this Agreement operates separately. If any court orrelevant authority decides that any of them are unlawful, the remaining subclauses, clauses and paragraphs will remain in full force and effect.
13.6. We are not partners and neither of us may act as the others agent. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
13.7. We can make amendments to this Agreement. We shall have the right to make such amendments to this Agreement, via Paywiser Limited, as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement. Such amendments may be made at any time upon as much notice as possible to you and shall take effect following such notice, if any. If you object to the proposed amendments, you have the right to terminate this Agreement without charge before the date proposed by us for the entry into force of the changes. You will be deemed to have accepted the proposed amendments unless you notify us and terminate this Agreement before the date proposed by us for the entry into force of the changes. If we receive no objection from you, such amendments shall take effect from the date specified by us but may not affect any rights or obligations that have already arisen and will not be retrospective.
13.8. What happens if you are jointly a client of ours with another person? Where you comprise two or more people, each person will be jointly and severally liable to us in respect of all obligations contained in this Agreement.
13.9. Can you obtain a copy of this Agreement or additional information? You may request and we shall provide a copy of this Agreement and any information set out in Schedule 4 of the Regulations (if relevant) at any time prior to termination of this Agreement.
13.10. We may transfer this agreement to someone else. We may transfer our rights and obligations under this Agreement to another organisation without your consent. We will alwaystell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.
13.11. You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.
13.12. Nobody else has any rights under this Agreement. This contract is between you and us. No other person shall have any rights to enforce any of its terms.
13.13. Which laws apply to this Agreement and where you may bring legal proceedings. These terms are governed by English law and you can bring legal proceedings in respect of the products in the English courts. If you live in Scotland you can bring legal proceedings in respect of the Services in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of the Services in either the Northern Irish or the English courts.

PAYRNET LIMITED

TERMS AND CONDITIONS FOR CORPORATES

ELECTRONIC MONEY ACCOUNTS

 

BACKGROUND

 

This Agreement: This Agreement is with PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”, “we” “us”). Weare an Electronic Money Institution (“EMI”) and are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (“EMR 2011”) (register reference 900594) for the issuing of electronic money.

Our relationship with Paywiser Limited: As an EMI, we have appointed Paywiser Limited as a distributor of certain of our services. A distributor means a person who distributes or redeems electronic money on behalf of an electronic money institution but who does not provide payment services on behalf of the electronic money institution (as distributor is defined in the EMR 2011).

AGREED TERMS

1. OUR TERMS
1.1. Interpreting this Agreement. In order to easily understand the terms of this Agreement, please first refer to clause 3 which, amongst other things, sets out the meaning of capitalised terms used in this Agreement.
1.2. Why you should read it? Please read this Agreement carefully before you agree to it, as its terms apply to the services provided by us. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only complete the signon procedures and agree to the terms of this Agreement if you agree to be bound by this Agreement.
2. INFORMATION ABOUT US AND HOW TO CONTACT US
2.1. Who we are. We are PayrNet Limited, an EMI as described above.
2.2. Communications between us are to be in English. This Agreement is concluded in England and all communications between you and us shall be in English only.
2.3. How to contact us. All queries should be directed towards PayWiser Limited. You can contact PayWiser Limited using details set out on www.paywiser.com.
2.4. How we may contact you. If we have to contact you we will do so as follows: in the first instance via Paywiser Limited except in urgent cases. If we have not been able to contact you through Paywiser Limited or if the matter is urgent, we will contact you by writing to you at the email address(es), you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us or the Paywiser Limited.
2.5. Writing’ includes emails. When we use the words “writing” or “written” in this Agreement, this includes emails.
2.6. Some of the services we provide are subject to the Payment Services Regulations 2017. The Regulations regulate how Payments must be transmitted and provide protection for the clients of authorised payment institutions and electronic money institutions.
3. INTERPRETATION
3.1. The definitions set out in this clause apply in this Agreement as follows:

Agreement” means this agreement and the privacy policy.

Electronic Money” means electronically stored monetary value as represented by a claim against us.

Regulations” means the Payment Services Regulations 2017 (SI 2017 No. 752).

Safeguarded Account” means the bank account(s) belonging to us, which are separate to our own office bank accounts, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.

Services” means the emoney account services.

3.2. Clause headings shall not affect the interpretation of this Agreement and references to clauses are to the clauses of this Agreement.
3.3. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
3.4. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
3.5. A reference to a statute or statutory provision is a reference to it as amended, extended or reenacted from time to time and reference to a statute or statutory provision shall include all subordinate legislation made from time to time.
4. TERM AND BECOMING A CLIENT
4.1. How can you agree to this Agreement? You can agree to this Agreement by checking the box online through PayWiser confirming that you agree during the registration process or by otherwise confirming the terms of this agreement.
4.2. When will you become a client of ours? You will be bound by this Agreement once you have agreed to it as set out above and this Agreement shall remain in force until terminated in accordance with its terms.
5. SERVICES
5.1. As part of the Services, we shall issue you with Electronic Money upon receipt of money from you or a third party on your behalf, store your Electronic Money and redeem Electronic Money both on your express instruction and in accordance with this Agreement and the agreement of Paywiser Limited.
5.2. Our Services do not include the provision of advice. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation, or markets.
6. ISSUING ELECTRONIC MONEY TO YOU
6.1. For the avoidance of doubt, this section is only applicable for unregulated entities and Small Payment Institutions (SPI).
6.2. Where we receive money from you or on your behalf, this money will be held by us in the relevant Safeguarded Account in exchange for the issuance by us to you of Electronic Money.Your funds will not be used by us for any other purpose and in the unlikely event that we become insolvent, your e-money is protected in an EEA-authorised credit institution or the Bank of England.
6.3. When we issue you with Electronic Money, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding your money in that (i) we cannot and will not use the funds to invest or lend to other persons or entities; (ii) the Electronic Money will not accrue interest; and (iii) the Electronic Money is not a deposit and is therefore not covered by the Financial Services Compensation Scheme but it is held by us and protected in the relevant Safeguarded Account.
6.4. You may hold Electronic Money and we may hold funds corresponding to your Electronic Money indefinitely. However, if we hold Electronic Money for you for more than two yearswithout any activity on the account, we shall use reasonable endeavours to contact you to redeem the Electronic Money and return the corresponding funds to you. If we are unable tocontact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.
6.5. We accept no responsibility in the event that you send money to the incorrect account.
6.6. We do not accept cash or cheques. We accept monies via a variety of methods of electronic funds transfer to our bank account, the details of which we shall provide to you upon request.
7. GENERAL LIMITATION OF LIABILITY
7.1. Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.
7.2. Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.
7.3. Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.
8. COMPLAINTS
8.1. If you feel that we have not met your expectations in the delivery of our Services, in the first instance contact Paywiser Limited using the contact email address for complaints set out on www.paywiser.com. If Paywiser Limited does not deal with your complaint adequately, please contact us via email to complaints@payr.net.
8.2. We have internal procedures for handling complaints fairly and promptly in accordance with the Financial Conduct Authority’s requirements. A copy of our complaints procedure is available upon request.
8.3. If you are an eligible complainant you may be able to take your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and information on the procedures involved are available from http://www.financialombudsman.org.uk. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.
9. ESTABLISHING YOUR IDENTITY
9.1. To comply with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and EU Wire Transfer Regulations (Regulation (EU) 2015/847) and related regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity (or directors or partners of your business and/or your ultimate beneficial owners) in our records from time to time. If satisfactory evidence is not promptly provided to us we cannot accept your instructions.
9.2. We may keep records of the contents and results of any searches that we carry out on you (or directors or partners or shareholders of your business) in accordance with all current andapplicable laws. You acknowledge that us carrying out an electronic verification check or, if required, a credit reference agency check will leave a soft footprint on the individual or entity’s credit history. You warrant that you have obtained the consent to such checks being carried out from each such individual officer and shareholder.
9.3. We are obliged to report any reasonable suspicions about activities on the electronic accounts to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.
10. TERMINATION
10.1. When we may terminate or suspend this Agreement.
10.1.1. We can terminate this Agreement at any time:
10.1.1.1. If you breach this Agreement; and/or
10.1.1.2. if we suspect that you are using the Services for any illegal purposes.
10.1.2. We may suspend or terminate your access to the Services where we have reasonable grounds for concern relating to: (i) the security of your account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).
10.1.3. If Paywiser Limited notifies us that their agreement with you has terminated we canterminate this agreement with immediate effect.
10.1.4. If you terminate your agreement with Paywiser Limited or that agreement is terminated, we can terminate this agreement with immediate effect.
10.2. When you may terminate this Agreement. You can terminate this Agreement at any time and for any reason by cancelling your agreement with Paywiser Limited. We may contact you to confirm your request.
10.3. Effect of Termination. Upon the effective date of termination:
10.3.1. you will no longer be able to avail yourself of the Services;
10.3.2. we shall redeem any Electronic Money we hold for you and send the equivalent funds to a bank account in your name, unless agreed by both parties, less any monies which are due and owing to us, where relevant.
10.4. After termination, you may contact us using the contact details set out in clause 2.3 to redeem any Electronic Money you still hold with us.
11. CONFIDENTIALITY
11.1. We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:
11.1.1. to our employees, officers, representatives or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives or advisers to whom we disclose your confidential information comply with this clause; and
11.1.2. as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
12. HOW WE MAY USE YOUR PERSONAL INFORMATION AND DATA PROTECTION
12.1. How we may use your personal information. We will only use your personal information as set out in our privacy policy which can be found https://railsbank.com/payrnet.
13. Anti-bribery and Corruption
13.1. Each party shall:
13.1.1. Comply with all applicable laws, statutes, regulations, codes and guidance relating to anti-bribery and anti-corruption (“Anti-Bribery Laws”), including without limitation the Bribery Act 2010;
13.1.2. maintain throughout the term of this Agreement its own anti-bribery policies and procedures (including adequate procedures under the Bribery Act 2010) to ensure compliance with the Anti-Bribery Laws; and
13.1.3. enforce such policies and procedures where appropriate.
13.2. For the purpose of this clause, the meaning of adequate procedures shall be determined in accordance with section 7(2) and any guidance issued under section 9, Bribery Act 2010.
13.3. Each party warrants that neither it nor any of its officers, employees:
13.3.1. has been convicted of any offence involving bribery, corruption, fraud or dishonesty; nor
13.3.2. to the best of its knowledge, has been or is the subject of any investigation, inquiry or enforcement proceedings by any governmental, administrative or regulatory body regarding any offence or alleged offence under the Anti-Bribery Laws.
13.4. Breach of this clause shall be deemed to be a material breach of this Agreement.
14. GENERAL
14.1. Recording of telephone conversations. We may record telephone conversations with or without use of a warning tone and we may use these recordings as evidence for a particular purpose or in relation to disputes as well as for our ongoing quality control and training programme. We may also maintain a record of all emails sent by or to us. All those recordings and records will be maintained at our absolute discretion and are our property and can be used by us in the case of a dispute. We do not guarantee that we will maintain such recordings or records or be able to make them available to you. You consent to the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.
14.2. Ensuring this Agreement is legally enforceable. For a contract to be legally enforceable, there needs to be an offer, acceptance and consideration. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer. In order to ensure that this Agreement is legally binding, upon you becoming a client, you promise to pay us the sum of onePound sterling, upon demand from us, as consideration.
14.3. Even if we delay in enforcing under this Agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
14.4. What if something unexpected happens? We shall have no liability to you under this Agreement if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lockouts or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of subcontractors, provided that you are notified of such an event and its expected duration.
14.5. If a court finds part of this Agreement illegal, the rest will continue in force. Each of the subclauses and clauses of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining subclauses and clauses will remain in full force and effect.
14.6. We are not partners and neither of us may act as the others agent. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
14.7. We can make amendments to this Agreement. We shall have the right to make such amendments to this Agreement, via PayWiser, as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement. Such amendments may be made at any time upon as much notice as possible to you and shall take effect following such notice, if any. If you object to the proposed amendments, you have the right to terminate this Agreement without charge before the date proposed by us for the entry into force of the changes. You will be deemed to have accepted the proposed amendments unless you notify us and terminate this Agreement before the date proposed by us for the entry into force of the changes. If no objection is received from you, such amendments shall take effect from the date specified by us but may not affect any rights or obligations that have already arisen and will not be retrospective.
14.8. What happens if you are jointly a client of ours with another person? Where you comprise two or more people, each person will be jointly and severally liable to us in respect of all obligations contained in this Agreement.
14.9. Can you obtain a copy of this Agreement or additional information? You may request and we shall provide a copy of this Agreement and any information set out in Schedule 4 of the Regulations (if relevant) at any time prior to termination of this Agreement.
14.10. We may transfer this Agreement to someone else. We may transfer our rights and obligations under this Agreement to another organisation without your consent. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.
14.11. You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.
14.12. Nobody else has any rights under this Agreement. This agreement is between you and us. No other person shall have any rights to enforce any of its terms.
14.13. Which laws apply to this Agreement and where you may bring legal proceedings. This Agreement and any disputes or claims arising out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims) are governed by, and construed in accordance with, the laws of England. You irrevocably agree that the courts of England have exclusive jurisdiction to settle any dispute or claim or other matter that arises out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).
1. Consumer cardholder terms

 

1. These terms

 

1.1. What these terms cover. These are the terms and conditions (the “Terms”) which govern the use of the personal, non-transferable card scheme branded debit card (the “Card”) which you have been issued with or will be issued with.

 

1.2. Why you should read them. Please read these Terms carefully before you use your Card. These Terms tell you who we are, who we work with, how you can use your Card and the steps you need to take to protect yourself from unauthorised use of the Card and how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these Terms, please contact us to discuss.

 

2. Information about us and how to contact us

 

2.1. Who we are. We are Payrnet Limited, being the issuer of the Card (“we”, “us”, “our”) and a company incorporated in England & Wales with company number 09883437 and  having its registered address at Kemp House, 152 City Road, London, UK EC1V 2NX. We are the issuer of your Card.

 

2.2. We are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (registration number 900594) for the issuing of electronic money (“e-money”).

 

2.3. PayrNet is a wholly owned subsidiary of Railsbank Technology Limited and provides regulated financial services to Railsbank customers. Payrnet outsources all IT and Operations processes to Railsbank, and therefore falls under the Railsbank Privacy Policy for the purposes of clause 10 (Data Protection).

2.4. Who we work with when providing you with services relating to the Card. Although we are the sole issuer of the Card, we work with PayWiser Limited, 36-38 Westbourne Grove Newton Road, London, United Kingdom, W2 5SH (the “Distributor”). You can find out more information on the Distributor on the Distributor’s website (being www.paywiser.com (the “Distributor’s Website”).
2.5. The Distributor will be your first point of contact in relation to these Terms, for example if you:
2.5.1. wish to cancel the Card or complain about the service you have been provided with pursuant to these Terms;
2.5.2. let us know that the Card has been or potentially has been lost, stolen or misappropriated; and
2.5.3. report an unauthorised Transactions relating to your Card.

 

2.6. The services provided by the Distributor are governed by a separate set of terms and conditions which are set out in the following weblink https://banking.paywiser.com/CustomerCardTerms&Conditions.html .

 

2.7. We also provide you with the e-money account (the “Account”) where the funds, which can be spent using the Card, are held. Our company details are set out in section 2.1. The services provided by us for the Account are governed by a separate set of terms and conditions between you and us which are set out at https://banking.paywiser.com/CustomerBankingTerms&Conditions.html Please note that the funds in the Account will not earn any interest.

 

2.8. How to contact us. You can contact us, via the Distributor, by:
2.8.1. telephoning the Distributor at +44 2381680299; or
2.8.2. using any of the communication methods available:
(a) on the secure area of the Distributor’s Website;
(b) on the Distributor’s mobile application (hereinafter referred to as the “Distributor’s App”).
2.9. How we may contact you. If we have to contact you we will do so by telephone or by writing to you at the telephone number, email address or postal address you provided to us or the Distributor. Any changes to your telephone number, email address or postal address or other personal data we hold about you must be notified by you immediately and in writing in accordance with section 2.7.
3. Commencement and expiry of these Terms
3.1. You shall be deemed to accept these Terms by using the Card. The Card shall remain our property and will be delivered by us, or on our behalf, by the Distributor.
3.2. The Terms, excluding Section 7.3, will terminate on the expiry date printed on the Card (“Expiry Date”) unless the Card is auto-renewed, in which case you will be issued with a new Card before the existing one expires. In this instance these Terms will remain valid until the existing Card expires or is otherwise as set out in these Terms.

 

4. Issuance and activation of the Card

 

4.1. You may be issued with:
4.1.1. a “physical” Card, which will have the details of the PAN, the Expiry Date of the Card and the CVV code printed on it (the “Physical Card”); or
4.1.2. a “virtual” Card, in which case you will not receive a Physical Card but will receive details of the PAN, the Expiry Date and the CVV2 code (the “Virtual Card”).

 

4.2. In order to start using the Card, you may be required to activate it in accordance with instructions given to you by the Distributor. You must keep your Physical Card and the details of the Virtual Card (as applicable) in a safe place and protect it against unauthorised access or use by third parties.
4.3. If you are issued with a Physical Card:
4.3.1. you must sign the Physical Card as soon as you receive it;
4.3.2. you may also receive a secret personal identification number (“PIN”) separately by post or you may be able to retrieve it electronically via the Distributor’s Website or the Distributor’s App.
4.4. You should memorise your PIN when you receive it. If you need to keep the written version of the PIN or separately write the PIN down for future reference, you must never keep it with the Card. You must never disclose your PIN to any other person, not even us. If you have not protected your PIN and your Card is used without your knowledge using the correct PIN, this may be classed as negligence for the purposes of Section 8.
4.5. You can manage the Card on your secure area of the Distributor’s Website and on the Distributor’s App.
4.6. The Card shall remain valid until the Expiry Date. If you require a replacement Card, please contact the Distributor using the contact details set out in section 2.7. Please note that an additional fee may be charged for a replacement Card – please see the fees section for more information.

 

4.7. The Card is an e-money product and as such it is not covered by the Financial Services Compensation Scheme. You may only use the Card for lawful Transactions.
5. Transactions

 

5.1. Should the relevant card scheme and/or programme allow, you may use your Card to enter into the following transactions (hereinafter referred to as “Transactions”):
5.1.1. purchasing goods and/or services from merchants affiliated with the card scheme on your Card;
5.1.2. withdrawing cash from authorised banks worldwide;
5.1.3. receiving cash back from merchants (merchant dependent);
5.1.4. making cash withdrawals from automatic teller machines (“ATMs”).

 

5.2. You can authorise a Transaction by:
5.2.1. allowing a merchant to swipe the magnetic strip of the Card and the corresponding sales slip being signed; or
5.2.2. inserting the Card into a chip & PIN device and the correct PIN being entered;
5.2.3. providing relevant information to the merchant that allows the merchant to process the Transaction, for example, providing the merchant with the PAN, the Expiry Date and the CVV2 in the case of an internet or other non-face-to-face Transaction;
5.2.4. relevant information being provided to the payment initiation service provider that allows the payment initiation service provider to process the Transaction;
5.2.5. the Card is tapped against a “contactless” enabled reader and accepted by such reader.
5.3. If any of the methods of authorisation set out in section 5.2  are used, we shall be entitled to assume that you have authorised a Transaction unless we were informed that the relevant details of the Card have been lost, stolen or misappropriated prior the Transaction taking place.
5.4. You acknowledge the correctness of the amount of each Transaction which you authorise.

5.5. Once you have authorised a Transaction, the Transaction cannot be stopped or revoked. You may in certain circumstances be entitled to a refund in accordance with these Terms.
5.6. On receipt of notification of your authorisation of a Transaction and the Transaction payment order from the merchant and/or authorised bank, normally we will deduct the value of the Transaction, plus any applicable fees and charges, from the available funds in the Account. We will execute the Transaction by crediting the account of the merchant’s or ATM operator’s or bank’s (as applicable) payment service provider by the end of the next business day following the notification. If the notification is received on a non-business day or after 4:30 pm on a business day, it will be deemed received on the next business day.
5.7. We are not liable if, for any reason, the affiliated merchants or authorised banks do not accept the Card, or accept it only partly, nor are we liable in the case of late delivery of, or failure to deliver, goods or services. In the event of disputes or complaints of any kind concerning goods or services, or the exercise of any right in this connection, you should contact the affiliated merchant and/or authorised ban and/or ATM operator.
5.8. It is your responsibility to ensure that there are available funds in your Account to cover any spend, allowing for any foreign exchange fees and other applicable fees under these Terms. Should the Account at any time and for any reason have a negative balance, you shall repay the excess amount immediately and in full.
5.9. For Card usage conducted in other currencies (other than the currency of the Card), you shall accept the exchange rate used by Visa, which can be found https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html. Any changes in exchange rates may be applied immediately and without notice. The exchange rate, where applicable to a Transaction, will be shown in the e-statement. Please be careful when opting to use a merchant’s, bank’s or ATM operators exchange rates as they are often less competitive that the card scheme’s exchange rate.
5.10. The maximum amount you may withdraw in cash shall be subject to a daily limit, irrespective of the available funds in the Account. We may charge a fee for withdrawal of cash. Some ATMs may charge an additional fee, which is not included in the Table, however, will apply on top of the fees set out in the Table.

 

5.11. We and the Distributor have the right to review and change the spending limits on the Card at any time. You will be notified of any such changes via the Distributor’s Website and/or the Distributor’s App.

 

6. Non-execution of a Transaction
6.1. In certain circumstances we may refuse to execute a Transaction that you have authorised. These circumstances include:
6.1.1. if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner;
6.1.2. if there are insufficient funds available to cover the Transaction and all associated fees at the time that we receive notification of the Transaction or if there is an outstanding shortfall on the balance of the Account;
6.1.3. if we have reasonable grounds to believe you are acting in breach of these Terms;
6.1.4. if there are errors, failures (mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing Transactions, or
6.1.5. if we are required to do so by law.
6.2. Unless it would be unlawful for us to do so, where we refuse to complete a Transaction, we will notify you as soon as reasonably practicable that it has been refused and the reasons for the refusal, together, where relevant, with the procedure for correcting any factual errors that led to the refusal. Where the refusal is reasonably justified, we may charge you fee when we notify you that your payment request has been refused.
6.3. You may also claim a refund for a Transaction that you authorised provided that your authorisation did not specify the exact amount when you consented to the Transaction, and the amount of the Transaction exceeded the amount that you could reasonably have expected it to be taking into account your previous spending pattern on the Card, these Terms and the relevant circumstances.
6.4. Such a refund must be requested from us within 8 weeks of the amount being deducted from the Card. We may require you to provide us with evidence to substantiate your claim. Any refund or justification for refusing a refund will be provided within 10 business days of receiving your refund request or, where applicable, within 10 business days of receiving any further evidence requested by us. Any refund shall be equal to the amount of the Transaction. Any such refund will not be subject to any fee.
7. Access to information on Transactions and available funds in the Account
7.1. The Distributor has set up a secure area on the Distributor’s Website and on the Distributor’s App where you can view the available balance in your Account and view the details of any Transactions you have entered into. You can gain access to this by following the instructions on the Distributor’s Website or the Distributor’s App. You must keep the credentials to obtain access to the secure areas safe and not disclose them to anyone.
7.2. We can, upon request, send you monthly information (“e-statement”) by email setting out:
7.2.1. a reference enabling you to identify each Transaction;
7.2.2. the amount of each Transaction;
7.2.3. the currency in which the Card is debited;
7.2.4. the amount of any Transaction charges including their break down, where applicable;
7.2.5. the exchange rate used in the Transaction by us and the amount of the Transaction after the currency conversion, where applicable; and
7.2.6. the Transaction debit value date.

If you would like us to provide you with the e-statement more often than monthly or not by email (or if agreed differently under this section 7, more often than agreed or in a different manner than agreed) then we may charge you a reasonable administration fee to cover our costs of providing the information more often or in a different manner.

 

7.3. If for any reason you have some available funds left in your Account following the termination of these Terms, you may redeem them in full up to 6 years following the termination.
8. Loss of the Card / Transaction refunds

 

8.1. As soon as you become aware of any loss, theft, misappropriation or unauthorised use of the Card, PIN or other security details, you must immediately notify us using the contact details set out in section 2.7.

 

8.2. In the event of theft, you should consider reporting the theft to the police.
8.3. If we believe you did not authorise a particular Transaction or that a Transaction was incorrectly carried out, in order to get a refund you must contact us as soon as you notice the problem using the contact details set out in section 2.7, and in any case no later than 13 months after the amount of the Transaction has been deducted from your Account.
2.
8.4. We will refund any unauthorised Transaction and any associated Transaction fees and charges payable under these Terms subject to the rest of this section 8.

 

8.5. This refund shall be made as soon as practicable and in any event no later than the end of the business day following the day on which we become aware of the unauthorised Transaction, unless we have reasonable grounds to suspect fraudulent behaviour and notify the appropriate authorities. If we become aware of the unauthorised Transaction on a non-business day or after 4:30 pm on a business day, we will be deemed to have only become aware of the unauthorised Transaction at the beginning of the next business day.
8.6. If we are liable for an incorrectly executed Transaction, we will immediately refund you the amount of the incorrectly executed Transaction together with and any associated Transaction fees and charges payable under these Terms. Depending on the circumstances, we may require you to complete a dispute declaration form relating to the incorrectly executed Transaction. We may conduct an investigation either before or after any refund has been determined or made. We will let you know as soon as possible the outcome of any such investigation.
8.7. If a Transaction initiated by a merchant (for example, this happens when you use the Card in a shop) has been incorrectly executed and we receive proof from the merchant’s payment service provider that we are liable for the incorrectly executed Transaction, we will refund as appropriate and immediately the Transaction and any associated Transaction fees and charges payable under these Terms.
8.8. We are not liable for any incorrectly executed Transactions if we can show that the payment was actually received by the merchant’s payment service provider, in which case they will be liable.
8.9. If you receive a late payment from another payment service provider (e.g. a refund from a retailer’s bank) via us, we will credit the Account with the relevant amount of any associated fees and charges so that you will not be at a loss.
8.10. We will limit your liability to £35 for any losses incurred in respect of unauthorised Transactions subject to the following:
8.10.1. you will be liable for all losses incurred in respect of an unauthorised Transaction if you have acted fraudulently, or have intentionally or with gross negligence failed to: (a) look after and use the Card in accordance with these Terms; or (b) notify us of the problem in accordance with this section 8;
8.10.2. except where you have acted fraudulently, you will not be liable for any losses:
(a) incurred in respect of an unauthorised Transaction which arises after your notification to us of the loss, theft or misappropriation of the Card;
(b) arising where you have used the Card in a distance contract, for example, for an online purchase;
(c) arising where the loss, theft or misappropriation of the Card was not detectable by you before the unauthorised Transaction took place;
(d) where we have failed to provide you with the appropriate means of notification;
(e) arising where we are required by law (anticipated to apply from 14 September 2019) to apply Strong Customer Authentication (as defined in section 8.11) but fail to do so;
(f) the losses were caused by an act or omission of any employee, agent or branch of ours or any entity which carries out activities on our behalf.

 

8.11. “Strong Customer Authentication” means authentication based on the use of two or more elements that are independent, in that the breach of one element does not compromise the reliability of any other element, and designed in such a way as to protect the confidentiality of the authentication data, with the elements falling into two or more of the following categories: (a) something known only by you (“knowledge”), (b) something held only by you (“possession”); (c) something inherent to you (“inherence”). Strong Customer Authentication it is used to make Transactions more secure.
8.12. We are required to provide Strong Customer Authentication when:
8.12.1. you view the available balance on your Account either through the Distributor’s Website or the Distributor’s App and/or through an account information service provider (“AISP”);
8.12.2. when you initiate an electronic Transaction, directly [or when you initiate a remote electronic Transaction through a payment initiation service provider (“PISP”)]; or
8.12.3. when you carry out any action through a remote channel which may imply a risk of payment fraud or other abuses.
8.13. If our investigations show that any disputed Transaction was authorised by you or you may have acted fraudulently or with gross negligence, we may reverse any refund made and you will be liable for all losses we suffer in connection with the Transaction including but not limited to the cost of any investigation carried out by us in relation to the Transaction. We will give you reasonable notice of any reverse refund.
9. Blocking of the Card

 

We may block the Card, in which case you will not be able to execute any further Transactions, if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner. We will notify you of any such blocking in advance, or immediately after if this is not possible, and of the reasons for the suspension unless to do so would compromise reasonable security measures or otherwise be unlawful. We will unblock the Card and, where appropriate, issue a new Card, PIN and other security features free of charge as soon as practicable once the reasons for the suspension cease to exist.

10. Data Protection
10.1. You agree that we can use your personal data in accordance with these Terms and our privacy policy, which is set out on www.railsbank.com/payrnet. This privacy policy includes details of the personal information that we collect, how it will be used, and who we pass it to. You can tell us if you do not want to receive any marketing materials from us. For the avoidance of doubt, we will share your personal data with the Distributor.
10.2. To comply with applicable know-your-client-rules and anti-money laundering regulations (such as the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002, we and/or the Distributor and/or each of our banking providers and any other business partner (the “Partner”) shall be entitled to carry out all necessary verifications of your identity. The above mentioned Partner and the Distributor may use a recognised agency for this verification purposes (details of the agency used will be provided to you on request). Such verifications will not affect your credit score but may leave a ‘soft footprint’ on your credit history.
11. Fees and spending limits
11.1. You are liable for paying all fees arising from your use of the Card and subject to all spending limits placed on the Card by us.
11.2. The fees and spending limits on the Card are set out:
11.2.1. in the table set out in Annex A attached hereto;
11.2.2. on the secure area of the Distributor’s Website; and/or
11.2.3. on the Distributor’s App.
12. Complaints
12.1. If you would like to make a complaint relating to these Terms, please contact us using the contact details in section 2.7 so we can resolve the issue. We will promptly send you a complaint acknowledgement and a copy of our complaints procedure.
12.2. Please note that you may request a copy of our complaints procedure at any time. Details of our complaints procedure can also be found on our website. You agree to cooperate with us and provide the necessary information for us to investigate and resolve the complaint as quickly as possible.
12.3. We will endeavour to handle your complaint fairly and quickly, however, if you are not satisfied with the outcome, you may contact the Financial Ombudsman Service at Exchange Tower, London E14 9SR; telephone: 0800 023 4567 or 0300 123 9 123; website: http://www.financial-ombudsman.org.uk; and e-mail:     complaint.info@financial-ombudsman.org.uk
12.4. We are a “trader” and “online trader” for the purposes of the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015 (“ADR Law”). The Financial Ombudsman Service is the only “ADR entity” we are legally obliged and committed to use in order to resolve disputes with consumers for the purposes of the ADR Law. We do not agree to resolve disputes with consumers using any other ADR entity or similar entity.
12.5. The European Commission’s online dispute resolution (“ODR”) platform can be found at https://ec.europa.eu/consumers/odr/main/?event=main.adr.show. The ODR platform can be used to resolve disputes between us and consumers.
13. Third Party Payment Service Providers
13.1. This section 13 applies when you use the services of an AISP or a PISP.
13.2. We may deny an AISP or PISP access to the Account for reasonably justified and duly evidenced reasons relating to unauthorised or fraudulent access to the Account by that AISP or PISP, including the unauthorised or fraudulent initiation of a Transaction. If we do deny access in this way, we will notify you of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP or PISP access to the Account once the reasons for denying access no longer apply.
14. Cooling off period
14.1. If you purchased the Card online or by some other remote means, for example via telephone, you are entitled to a 14-day “cooling off” period from the date your received your original Card during which you may cancel the Card. Should you wish to cancel the Card and these Terms during the “cooling off” period, please return the Card to PayWiser Limited, 36-38 Westbourne Grove Newton Road, London, United Kingdom, W2 5SH and unused within 14 days of issue and a full refund of any fees paid to date will be made to you. If you have used the Card, you will not be entitled to a refund of any funds that have been spent, including any associated fees, but we will refund any unspent available funds free of charge.
15. Other important terms

 

15.1. The Terms and all communications will be in English. You may request a copy of these Terms free of charge at any time during the contractual relationship. If we need to contact you in the event of suspected or actual fraud or security threats, we will first send you an SMS or email prompting you to contact our customer services team using the contact information we have been supplied with.
15.2. We may transfer this agreement to someone else. We may transfer our rights and obligations under these Terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.

 

15.3. You need our consent to transfer your rights to someone else. You may only transfer your rights or your obligations under these Terms to another person if we agree to this in writing.

 

15.4. Nobody else has any rights under this contract. This contract is between you and us. No other person shall have any rights to enforce any of its terms.

 

15.5. Changes to these Terms / Termination. We reserve the right to amend these Terms for any reason by giving you two-months’ notice by e-mail. You will be deemed to have accepted the changes if you raise no objection prior to the expiry of the period set out in the notice. If you do not wish to accept the changes, you may terminate these Terms immediately and without charge by proving us with notice at any time prior to the expiry of the notice period. At all other times you may terminate these Terms at any time by giving us one months’ notice in accordance with section 2.7 and we may terminate these Terms by giving you two months’ notice in accordance with section 2.8.

 

15.6. If a court finds part of this contract illegal, the rest will continue in force. Each of the sections and sub-sections of these Terms operate separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

 

15.7. Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these Terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you do not pay us on time and we do not chase you but we continue to provide the services, we can still require you to make the payment at a later date.

 

15.8. Which laws apply to this contract and where you may bring legal proceedings. These Terms are governed by English law and you can bring legal proceedings in respect of these Terms in the English courts. If you live in Scotland you can bring legal proceedings in respect of the these Terms in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of these Terms in either the Northern Irish or the English courts.

 

 

Annex A – Fees Table

Please contact Paywiser for pricing quotation.

Corporate Terms and Conditions for Business Visa Debit Cards issued by Payrnet Limited.

These terms and conditions apply to your business debit card. You accept these terms and conditions by activating your debit card. You should read them carefully before activating your debit card. In these terms and conditions “you” means the Business and/or the named debit Cardholder authorised by the Business to use the Card. “We”, “us” or “our” means Payrnet  Limited.

     1.         Definitions

In these terms and conditions the following words and expressions have the following meanings:

“Account” means the electronic money account associated with the Card;
“Agreement” means this Agreement of open-ended duration between you and us incorporating these terms and conditions, as amended from time to time;
“Authorised” and “Authorisation” mean the act of authorising a payment transfer by using the Card together with (i) the PIN code; or (ii) the CVV code and Expiry Date; or (iii) the use of contactless technology; or (iv) the signature of the Cardholder or
“Available Balance” means the value of unspent funds in the Account which are available for a Cardholder to spend;
“Business” means the party authorised to fund the Account and to whom the electronic money is issued;
“Business Day” means a day other than a Saturday or Sunday on which banks are open for business in London;
“Card” means a Card, which is a Visa debit card, provided by us to a Cardholder whereby the Cardholder can spend Available Balance;
“Card Distributor” means [insert name], being your first point of contact if you have an issue with the Card or this Agreement, the contact details of which are set out in clause 2.
“Card Distributor’s App” Means the Card Distributor’s mobile application relating to the Account and the Card.
“Card Distributor’s Contact Details” Means the email address cards@paywiser.com and/or the Card Distributor’s Website
“Card Distributor’s Website” Means www.paywiser.com, being the website belonging to the Card Distributor.
“Cardholder” means the person authorised by the Business to use the Card to spend Available Balance in the person’s capacity as a representative of the Business and not in its own personal capacity. For the avoidance of doubt a Cardholder is not acting as a consumer for the purposes of this Agreement;
“Expiry Date” means the expiry date of the Card, which will usually be printed on the Card.
“Fee” means any fee assessed against a Card, as referenced in the Fees Schedule;
“Fees Schedule” means the fee schedule which may be updated from time to time. The current version is available on the Card Distributor’s Website or Card Distributor’s App;
“Issuer” means Payrnet Limited, further details of which are set out in clause 30.
“KYC” means ‘know your customer’ which means the requirements for knowledge of and information on customers of regulated entities in order to comply with anti-money laundering and counter-terrorist financing law;
“Merchant” means a retailer or any other person that accepts Cards;
“Micro-Enterprise” means an entity which is engaged in an economic activity of any form which employs fewer than 10 people and whose annual turnover and/or balance sheet total that does not does not exceed €2 million;
“PIN” means the personal identification number associated with a Card which can be used as one method of Authorising Transactions;
“Shortfall” means when the balance of Available Balance is negative for whatever reason, including when a Transaction has been Authorised when there was not a sufficient Available Balance;
“Transaction” means: (i) paying a Merchant for goods and/or services through Authorising the Card; and (ii) obtaining cash from an ATM or bank by Authorising the Card;
“Virtual Card” means where applicable a non-physical Card.
“you” means the Business and/or the Cardholder, as the context may require.

 

     2.         Contact Details

  • 1. The Card can be activated and managed online via the Card Distributor’s Website and/or via the Card Distributor’s App.
  • 2. The Card Distributor should be your first point of contract if you have any issues with the Card or this Agreement. The Card Distributor’s contact details are as follows:

     3.         This Agreement

  • 1. This Agreement governs the relationship between you and us for the provision of the Card by us to the Cardholder. This Agreement also contains important warnings and information that may affect your rights. By using your Card, you will 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. The Card remains our property. The Card is not transferable.

     4.         The Card

  • 1. The Card is a debit card; it is not a credit, charge or pre-paid card. The Business will not earn any interest on any funds sent to the Account.
  • 2. You must ensure that there is sufficient Available Balance to enter into each Transaction that you enter into using the Card (including value added tax and any other taxes, charges and Fees that are applicable).
  • 3. Depending on your program you may receive a Virtual Card. In such cases we will provide You with the number of the Virtual Card, the Expiry Date of the Virtual Card and the CVV2 code.
  • 4. If for any reason a Transaction is processed and the Transaction amount exceeds the Available Balance, the Business must repay us the amount of such excess immediately and we will be entitled to stop any existing or subsequent Transactions from proceeding.

     5.         KYC

  • 1. We require evidence of who you are and your address for our KYC procedures. We may ask the Cardholder or the Business to provide some documentary evidence to prove this and/or we may carry out checks on you electronically.
  • 2. The files of credit reference agencies may be searched to assist in the identity verification process. This is not a credit search and does not have a detrimental effect on an individual’s credit score/rating or influence an individual’s ability to obtain or raise credit. The credit reference agency will keep a record of any search and this will show as a ‘soft footprint’ on your credit record to alert you that a search was conducted.

     6.         Funds in the Account

  • 1. Only the Business can add money to the Account. The Cardholder will not be able to add money to the Account.
  • 2. We reserve the right to suspend or terminate the right add money to the Account at any time without notice.
  • 3. The Business solely owns the funds representing the Available Balance and is the beneficial owner of these funds.

     7.         Service limits

  • 1. 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 right to change particular payment restrictions (including from those published or included herein) without notice and to the extent required to meet our regulatory obligations.

     8.         Use of the Card

  • 1. To activate the Card you will need to log onto the Card Distributor App or Card Distributor’s Website and use the activate card function.
  • 2. We will be entitled to assume that a Transaction has been Authorised by You where (i) the magnetic strip on the Card was swiped by the Merchant; (ii) the Card was inserted into a chip & PIN device and the PIN was entered; (iii) relevant information was supplied to the Merchant that allows them to process the Transaction, for example, providing the Merchant with the 3-digit security code on the back of the Card in the case of an internet or other non-face-to-face Transaction; or (iv) the Card is tapped against a contactless-enabled reader and accepted by such reader.
  • 3. The Cardholder should only use the Card as permitted by the Business. If the Cardholder uses the Card, we are entitled to presume that the Cardholder has the Business’ permission to spend the Available Balance until notified to the contrary by the Business. The Cardholder can use the Card up to the amount of the Available Balance for Transactions (i) via the Internet, (ii) at Merchants and (iii) to make cash withdrawals from ATMs, provided that such application is included in the card program.
  • 4. We will deduct the value of the Transactions from the Available Balance in the Account. We will also deduct any applicable Fees as soon as they become payable by the Business based upon the Fees Schedule.
  • 5. ATM withdrawals may also be subject to fees, foreign exchange rates, maximum withdrawal limits, 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.
  • 6. Like other card issuers, we cannot guarantee a Merchant, an ATM operator or a bank will accept the Card.
  • 7. We may at any time suspend, restrict or terminate the Card and/or the Account, refuse to issue or replace a Card or refuse to authorise a Transaction for reasons relating to the following:
    • 7.1. if we have reasonable grounds to believe that the Card is being in a way which is not approved by the Business;
    • 7.2. if we have reasonable grounds to believe that the security of the Card has been compromised or suspect that the Card is being used in an unauthorised or fraudulent manner;
    • 7.3. if there is insufficient Available Balance in the Account at the time of a Transaction to cover the amount of the Transaction and any applicable Fees;
    • 7.4. if there is an outstanding Shortfall in the Account;
    • 7.5. if we have reasonable grounds to believe that you are acting in breach of this Agreement;
    • 7.6. if we have reasonable grounds to believe that a Transaction is potentially suspicious or illegal (for example, if we believe that a Transaction is being made fraudulently) or because of errors, failures (whether mechanical or otherwise) or refusals by Merchants, payment processors or payment schemes processing Transactions, or
    • 7.7. if we need to do so in order to comply with the law.
  • 8. If we do this, we will inform you of the action taken and its reasons in advance or, if that is not possible, immediately after, unless to do so would compromise reasonable security measures or be otherwise unlawful. We will reactivate the Account and where appropriate issue you with a replacement Card if after further investigations we reasonably believe that the reasons for the action no longer apply.
  • 9. The Business will remain responsible to the Issuer for the use of the Card. Your ability to use or access the Card may occasionally be interrupted, for example, if we need to carry out maintenance on our systems. Please contact us using the contact details set out in clause 2 to notify us of any problems you are experiencing using the Card or Account and we will endeavour to resolve any problem.
  • 10. You can manage the Card and view your e-statements by accessing the Account online via the Card Distributor’s Website or Card Distributor App. You may at any time view the details of the Transactions in the Account using the relevant credentials. You must keep your credentials safe and not disclose them to anyone. The Account will include all Transactions notified to us up to the evening of the previous Business Day.
  • 11. Your transaction information (“e-statement”) will contain: (i) a reference enabling you to identify each Transaction; (ii) the amount of each Transaction; (iii) the currency in which the Card is debited; (iv) the amount of any Transaction charges including their break down, where applicable; the exchange rate used in the Transaction and the amount of the Transaction after the currency conversion, where applicable; and (v) the Transaction debit value date.

     9.         Conditions of use at certain Merchants

  • 1. In some circumstances we or Merchants may require you to have an Available Balance in excess of the Transaction amount.
  • 2. Some Merchants may not accept payment using the Card. It is your responsibility to check the policy with each Merchant. We accept no liability if a Merchant refuses to accept payment using the Card.

  10.         Keeping the Card secure and liability

  • 1. You are responsible for the Card, Account and PIN. Do not share the Card or Account security details with anyone.
  • 2. You must take all reasonable steps to keep the PIN safe and separate from the Card or any record of the Card number and not disclose it to anyone else. This includes:
    • 2.1. not keeping your PIN with the Card;
    • 2.2. not storing the PIN on a device which is not password protected;
    • 2.3. never sharing your PIN with anyone;
    • 2.4. when entering your PIN, taking all reasonable steps to ensure it cannot be observed by others;
    • 2.5. not entering your PIN into any terminal that appears to be modified or suspicious, and
    • 2.6. if you believe that anyone has gained unauthorised access to your PIN, notifying us without undue delay following the procedures in clause 16.
  • 3. You will need a PIN in order to make payments at a Merchant or cash withdrawals (from an ATM or a bank) with the Card. If you forget your PIN, you may retrieve the PIN or request a replacement PIN by using the contact details set out in clause 2.
  • 4. We recommend that you check your Available Balance in your Account regularly on the Card Distributor’s Website or Card Distributor’s App. You will be provided with your Available Balance and a statement of recent Transactions on the Account either by electronic means or on the Card Distributor’s Website or on the Card Distributor App at any time. We also recommend and instruct you to go thoroughly over all the Transactions on a regular basis on the Card Distributor’s Website or Card Distributor’s App.
  • 5. The Business will be liable for all losses, including any related fees and charges, for any unauthorised Transaction if we can show that you have (i) acted fraudulently or (ii) failed with intent or gross negligence to use and keep safe the Card, Account or PIN in accordance with this Agreement.
  • 6. The Business will also be liable for all losses, including any related fees and charges, for any unauthorised or incorrectly executed Transaction if you fail to notify us without undue delay on becoming aware of the Transaction, and in any event within 30 days of the Transaction debit date.
  • 7. In all other circumstances, the maximum liability will be as set out in this clause 10 and in clauses 16 and 18.
  • 8. If you believe that someone else knows the Account or Card security details, you should contact us without undue delay.
  • 9. Once any Card on the Account has expired or if it is found after you have reported it as lost or stolen, you agree to destroy it by cutting it in two through the magnetic strip.
  • 10. The Business agrees to indemnify and hold us harmless from and against all reasonable costs of any legal action taken to successfully enforce this Agreement arising out of a material breach of any of the terms and conditions of this Agreement by you or by your fraudulent conduct.

  11.         Authorising and executing Transactions

  • 1. Once a Transaction is Authorised, it cannot be withdrawn or revoked.
  • 2. Within the European Economic Area (EU countries plus Iceland, Liechtenstein and Norway) we will usually execute the Transaction by transferring the amount of the Transaction to the payment service provider of the Merchant by the end of the next Business Day following the receipt of the instructions to transfer the amount. If we receive the instructions after 4:30 pm, they will be deemed received by us on the following Business Day. If the payment service provider of the Merchant is located outside the EEA, we will execute the Transaction as soon as possible.

  12.         Communications regarding the Account

  • 1. You can check the Available Balance and Transaction history at any time by logging onto the Card Distributor’s Website or Card Distributor’s App.

  13.         Cancelling the Card and terminating the Agreement

  • 1. If you wish to terminate this Agreement at any time, you must request cancellation or termination by contacting us using the contact details set out in clause 2 informing us of your wish to terminate. The Agreement also terminates upon Card expiry subject to clause 14.
  • 2. Once we have received all the necessary information from you and we have completed and are satisfied with the outcome of applicable anti-money laundering, fraud and other illegal activity checks (including KYC), and once all Transactions and applicable fees and charges have been processed, we will send any Available Balance to the Business’s designated payment or bank account less any fees and charges payable to us, provided that no law, regulation, law enforcement agency, court or regulatory authority requires us to withhold the Available Balance. If we are not able to send the Available Balance for whatever reason, it will be safeguarded pursuant to clause 30 for a maximum period of twenty (20) years, after which time it will become our property. A fee will be charged during this period until either the Available Balance is sent to the Business or it is exhausted. The Available Balance will be sent as soon as it is possible to do so.
  • 3. A Fee may be charged for cancellation (see clause 20 below) unless you have arranged to transfer any unused funds to another Card managed by us for the Business.
  • 4. If, following distribution of the Available Balance to the Business, any further Transactions are found to have been made or charges or fees incurred using the Card or we receive a reversal of any prior Transaction, we will notify the Business of the amount and the Business must immediately repay us such amount on demand as a debt.

  14.         Expiry & redemption

  • 1. The funds on the Account will no longer be usable following the Expiry Date of the most recent Card that was issued under the Account until a replacement Card is issued.
  • 2. The Card and this Agreement will terminate on the Expiry Date unless you are issued a renewal Card prior to the Expiry Date. You may not use the expired Card after the Expiry Date. If a Card expires before the Available Balance is exhausted, the Available Balance on the Expiry Date will be returned to the Business as set out in and subject to clause 13.
  • 3. We will have the right to set-off, transfer, or apply part or all of the Available Balance to satisfy all or any liabilities and fees owed to us by the Business that have not been paid or satisfied when due.
  • 4. Authorisation will be requested for a Transaction at the time of the Transaction. In the unlikely event, for any reason whatsoever, a Transaction is completed when there are insufficient funds on the Account for that Transaction which results in a Shortfall, the Shortfall will be repaid by the Business unless it is due to:
    • 4.1. an error on the part of the Merchant to which the Card was provided by you as the means of payment, or
    • 4.2. an error on the part of the Issuer.
  • 5. Should the Business not repay this amount immediately after receiving an invoice or notification from us or the Card Distributor, we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding.

  15.         Termination and suspension of Card and Account

  • 1. We may terminate the Agreement for any reason by giving you at least 30 days’ notice.
  • 2. We may terminate the Agreement without prior notice if:
    • 2.1. you breach an important part of this Agreement, or repeatedly breach the Agreement and fail to resolve the matter in a timely manner;
    • 2.2. we so agree with the Business;
    • 2.3. the Business fails to pay fees or charges that you have incurred or fail to cure any Shortfall, or
    • 2.4. we are required to do so by law or by the card scheme (for example, where the provision of the Card to you becomes unlawful).
  • 3. We may also terminate this Agreement or suspend the Card or Account without prior notice if:
    • 3.1. we reasonably believe the Card is deliberately being used by you to commit fraud or for other illegal purposes, or
    • 3.2. we discover that any of the information you provided us with when you applied for the Card was incorrect.
  • 4. If we terminate the Agreement without prior notice, we will tell you as soon as practicable afterwards unless we are prohibited by law from doing so.

  16.         Lost and stolen Card and the right to a refund for unauthorised Transactions

  • 1. If you know or suspect that the Card is lost or stolen, or that the PIN code is known to an unauthorised person, or if you think a Transaction has been unauthorised, you must tell us without undue delay by calling us using the number set out in clause 2 of this Agreement.
  • 2. A Transaction will be considered to be unauthorised if you have not given your consent for the Transaction to be made by Authorising it. In order for any unauthorised Transaction amount to be refunded to the Account, you must report the Transaction without undue delay upon becoming aware of it. A refund cannot be made for any unauthorised Transaction reported after 30 days have passed following the debit date of the Transaction.
  • 3. Despite the possible 30 day’s refund period, a refund cannot be made for an unauthorised Transaction if the Transaction was correctly displayed in the Account activity online and you failed to inform us about the Transaction being unauthorised without undue delay upon seeing the Transaction in the Account activity online. In this respect we urge you to check the Account activity online on a regular basis and review the Transactions carefully.
  • 4. When you call using the contact details set out in clause 2, you will be asked to provide us with the Card’s number where possible and some other identifying details. If there is an Available Balance remaining in the Account, we will replace the Card for the Account. Alternatively, the Available Balance can be redeemed to the Business. If we replace the Card, the Card will be delivered to the registered address subject to possible Fees.
  • 5. We will refund as soon as possible, and no later than by the end of the day on which the unauthorised Transaction is reported by you, the full amount of any unauthorised Transaction reported by you, including any associated Fees and charges, provided you notify us of the Transaction in accordance with this Agreement except that:
    • 5.1. we will refund at the beginning of the next Business Day any unauthorised Transactions reported on a day that is not a Business Day or reported after 4:30 pm on a Business Day;
    • 5.2. if there is evidence that you acted fraudulently or have with intent or gross negligence failed to comply with the Agreement in relation to the use of the Card and safety of the Card’s security details, we will first carry out a prompt investigation to determine whether the Transaction was Authorised by you and will only refund if the investigation shows that the Transaction was not Authorised by you, and
    • 5.3. if the Card was lost or stolen or you have failed to keep your PIN or other security details safe from misappropriation, the Business will be liable for losses up to a maximum of 35 GBP (or equivalent in another currency) per instance of loss, theft or misappropriation.
  • 6. The Business will be liable for all losses incurred in respect of an unauthorised Transaction where you have acted fraudulently or have with intent or gross negligence failed to comply with the Agreement in relation to the use of the Card and safety of its security features.
  • 7. Except where you have acted fraudulently the Business will not be liable for any losses incurred in respect of an unauthorised Transaction arising after you notify us of the Transaction in accordance with the Agreement. The Business is not liable for any losses that occur where the Card has been used in a ‘card not present’ environment except where you have acted fraudulently or with intent or gross negligence.
  • 8. If there is evidence that you checked the online Account and did not notify us of the unauthorised Transaction without undue delay, we may not refund the Account.
  • 9. We reserve the right to investigate any disputed Transaction or misuse of the Card before and after a refund. In order to do so we may need more information and assistance from you and you are required to reasonably cooperate with any investigation by us or any law enforcement agency or other competent authority. If we make a refund following the claim and subsequently establish that the conditions for the refund have not been met, we may deduct it from the Available Balance after notifying you. If there is no sufficient Available Balance, the Business must repay us the amount immediately on demand.

  17.         Our liability

  • 1. We will not be liable for any loss arising from:
    • 1.1. your inability to use the Card as set out or for any reason stated in clauses 10 and 13;
    • 1.2. any cause which results from abnormal or unforeseen circumstances beyond our control, consequences of which would have been unavoidable despite all our efforts to the contrary, including but not limited to fault in or failure of data processing systems, lack of funds, maximum withdrawal limits set by ATM operators;
    • 1.3. a Merchant refusing to accept the Card;
    • 1.4. any issue with the goods or services that are purchased with the Card;
    • 1.5. any loss or theft that is reported later than 30 days following the debit date of the Transaction in question;
    • 1.6. our compliance with legal and regulatory requirements;
    • 1.7. our suspending, restricting or cancelling the Card or refusing to issue or replace it in accordance with clause 8 above, or
    • 1.8. loss or corruption of data unless caused by our wilful default.
  • 2. From time to time, your ability to use the Card may be interrupted, e.g. when we carry out maintenance to improve and keep the service running for our customers. If this happens, the Business may be unable to add funds to your Account, and/or you may be unable to:
    • 2.1. use the Card to enter into a Transaction, and/or
    • 2.2. obtain information about the funds available in your Account and/or about the recent Transactions.
  • 3. We will not be liable for any loss arising from such interruptions.
  • 4. We are also not liable for:
    • 4.1. business interruption, loss of revenue, goodwill, opportunity or anticipated savings, or
    • 4.2. any indirect or consequential loss arising from your total or partial use or inability to use the Card, or the use of the Card by any third party.
  • 5. To the fullest extent permitted by relevant law, and subject to clauses 16 and 18, our total liability under or arising from this Agreement will be limited as follows:
    • 5.1. where the Card is faulty due to our default, our liability will be limited to replacement of the Card; and
    • 5.2. where sums are incorrectly deducted from the Available Balance due to our fault, our liability will be limited to payment to the Business of an equivalent amount, and
    • 5.3. in all other circumstances of our default, our liability will be limited to repayment of the amount of the Available Balance.
  • 6. No party will 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.
  • 7. The above exclusions and limitations set out in this clause 17 will apply to any liability of our affiliates, such as Visa or other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Agreement.

  18.         The right to a refund for Authorised and incorrectly executed Transactions

  • 1. A refund may be made for an Authorised Transaction if (i) your Authorisation of the Transaction did not specify the exact amount at the time of the Authorisation, and (ii) the amount exceeded what you would have reasonably expected taking into consideration your previous spending patterns and other relevant circumstances. A claim for a refund of such a Transaction must be made within 30 days from the date on which the funds were deducted from the Available Balance. We may require you to provide us with such information as is reasonably necessary to ascertain whether the conditions for the refund are met. Within ten (10) Business Days of receiving (i) the claim for a refund or (ii) where applicable, any further information we requested from you, we will either refund the full amount of the Transaction to the Account or provide you with justification for refusing the refund.
  • 2. In order to receive a refund to the Account for an incorrectly executed Transaction (including non-executed or defectively executed Transaction), you must report the Transaction without undue delay upon becoming aware of it. A refund will not be made for any incorrectly executed Transaction reported after 30 days have passed following the debit date of the Transaction.
  • 3. Despite the possible 30 days refund period a refund will not be made for an incorrectly executed Transaction if the Transaction was correctly displayed in the Account activity online and you failed to inform us about the Transaction being incorrectly executed without undue delay upon seeing the Transaction in the Account activity online. In this respect we urge you to check the Account activity online on a regular basis and review the Transactions carefully.
  • 4. As soon as practicable after you have notified us of a disputed Transaction in accordance with this Agreement, you must confirm the disputed Transaction in writing by email or by post, setting out full details of the Transaction and your reason for disputing it. You must provide us with all receipts and information that are relevant to the claim.
  • 5. Where we are liable for an incorrectly executed Transaction, we will without undue delay refund the amount of the Transaction to the Account, restore the Account to the state it would have been had the defective Transaction not taken place and refund any charges and interest that have arisen as a consequence of the non-execution or defective execution of the Transaction provided you notify us of the Transaction in accordance with this clause 18.
  • 6. If we make a refund following a claim and subsequently establish that the conditions for the refund have not been met, we may deduct it from the Available Balance after notifying you. If there is no sufficient Available Balance, the Business must repay us the amount immediately on demand.
  • 7. If you are not satisfied with the justification provided for refusing the refund or with the outcome of the refund claim, you may submit a complaint as described in clause 25.

  19.         Changes to this Agreement

  • 1. We may change the Agreement by notifying you by e-mail or other agreed means 2 weeks before the change is due to take effect. You will be deemed to have accepted the notified change unless you tell us that you do not agree to the change prior to the change being effective. In this case, the Agreement will terminate upon expiry of the notice. You also have a right to terminate the Agreement immediately and without charge at any point during the notice. In such circumstances we will refund the Available Balance on the Account in accordance with clause 13 and you will not be charged a Fee for closing the Account.
  • 2. We may make immediate changes to the exchange rate used to convert money from one currency to another as part of a Transaction.

  20.         Fees and limits

  • 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 Fees Schedule. The Fees Schedule is subject to changes. The most recent update of schedule will be available on the Card Distributor’s Website or Card Distributor’s App.
  • 2. We may charge you an administration charge as set out in the Fee Schedule in the following circumstances:
    • 2.1. in the event that you make any payment to us that is subsequently reversed after sixty (60) days due to inadequate account information or inadequate KYC documentation, and
    • 2.2. to cover our reasonable costs and expenses in providing you with manual support on the Account not otherwise required under the Agreement (e.g. a request for legal, police, court or other judicial support).
  • 3. We may charge you a Fee for chargebacks as set out in the Fees Schedule where a receiving bank declines receipt of a payment following a request to transfer the funds from the Card.
  • 4. We have the right to review and change the amount of Available Balance you are able to have in the Account and the spending limits on the Card at any time and will notify you accordingly.

  21.         Cardholder and Business details

  • 1. You must let us know as soon as possible if you change your name, address, phone number or e-mail address. If we contact you in relation to the Card or the Account, for example, to notify you that we have cancelled the Card, we will use the most recent contact details you have provided to us. We will not be liable to you if your contact details have changed and you have not informed us.

  22.         Data protection

  • 1. You agree that we can use your personal information in accordance with our privacy policy which is set out at https://www.railsbank.com/privacypolicy. The Card Distributor may also use your personal information in accordance with its privacy policy which is set out on the https://banking.paywiser.com/CustomerPrivacyPolicy.html Please note that us and the Card Distributor are each independent data controllers. Each privacy policy includes details of the personal information collected, how it will be used, and who it is passed onto. You can tell us if you do not want to receive any marketing materials from us.
  • 2. To comply with applicable KYC-and anti-money laundering rules and regulations our bank, the Issuer, the Card Distributor and the relevant programme manager and/or any other business partner (all together a “Partner”) who will introduce the Cardholder to the Card Distributor and the Issuer, shall be entitled to carry out all necessary verifications regarding the Cardholders identity. The abovementioned Partner and the Card Distributor may use a recognised agency for this verification purposes (details of the agency used will be provided to you on request). In this respect, the Cardholder’s personal data will be transferred to the Card Distributor and the Issuer and will processed also outside the United Kingdom.

  23.         Payment disputes with Merchants

  • 1. In relation to any dispute between you 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 Fee as referenced in the Fees Schedule for any such assistance we may give you with any such dispute. If there is an irresolvable 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.

  24.         Communication

  • 1. Unless required otherwise by other provisions of this Agreement, if you have an enquiry relating to the Card, you can call us using the contact details set out in clause 2.
  • 2. This Agreement is concluded in English. All communications with you will be in English.
  • 3. We may contact you by e-mail, text message or post unless provided otherwise under the Agreement. You must maintain a valid e-mail address, a valid mobile telephone number and a valid address registered with us and must notify us of any changes in your registered details without delay. You agree to check for incoming messages regularly.
  • 4. Any e-mail will be deemed received as soon as it is sent unless within 24 hours the sender receives a failure notice indicating that the email has not been transmitted. Any e-mail will be deemed received by the recipient on the day it is received in his e-mail inbox if received before 4.30 pm on a Business Day. If received at any other time, it will be deemed received on the next Business Day.
  • 5. Any communication or notice sent by post will be deemed received three (3) days from the date of posting for UK post or within five (5) days of posting for international post. Any communication or notice sent by text message will be deemed received the same day.

  25.         Complaints

  • 1. If you are not satisfied with the Card or the way it is managed, tell us by contacting us using the contact details set out in clause 2 so that we can investigate the circumstances for you. You may also request to be provided with a copy of our complaints procedure at any time. Any complaints you have will be dealt with quickly and fairly and you agree to cooperate with us and provide the necessary information for us to investigate and resolve the complaint.
  • 2. We will endeavour to handle your complaint fairly and quickly, however, if you are not satisfied with the outcome, you may contact the Financial Ombudsman Service at Exchange Tower, London E14 9SR; telephone: 0800 023 4567 or 0300 123 9 123; website: http://www.financial-ombudsman.org.uk; and e-mail: complaint.info@financial-ombudsman.org.uk.
  • 3. The European Commission’s online dispute resolution (“ODR”) platform is at: https://ec.europa.eu/consumers/odr/main/?event=main.adr.show. The ODR platform can be used to resolve disputes between the Issuer and consumers.

  26.         Assignment

  • 1. We may assign this Agreement to another company at any time. If we assign the Agreement to another company you will be given prior notice of this. Unless you tell us within 2 weeks that you do not want to continue with the Agreement after the assignment, you agree that we can assign the Agreement in this way. Your rights will not be affected by such assignment should it happen. You may not assign the Agreement to a third party. Your right to terminate the Agreement under clause 13 is not affected.

  27.         Governing law

  • 1. This Agreement will be governed by English law and the English courts will have exclusive jurisdiction regarding any legal proceedings between us.

  28.         Protection of funds

  • 1. We ensure that once we have received the funds they are deposited in a secure account, specifically for the purpose of redeeming Transactions made by the Card. In the event that we become insolvent, funds against which the Issuer has already issued electronic money are protected against the claims made by creditors.

  29.         Business opt-out

  • 1. Pursuant to regulations 40(7) and 63(5) of the Payment Services Regulations 2017 (“PSR”) the parties agree that: (i) Part 6 PSR does not apply to the Agreement; (ii) the obligations set out in regulations 66(1), 67(3), 67(4), 75, 77, 79, 80, 83, 91, 92 and 94 of Part 7 PSR do not apply to the provision of services under this Agreement; and (iii) that a different time period applies for regulation 74(1) of Part 7 PSR.

  30.         The Issuer of the Card

  • 1. The Card is issued by Payrnet Limited. whose company number is 09883437 and whose registered office is Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX. Payrnet Limited is an electronic money institution authorised and regulated by the Financial Conduct Authority with register number 900594.
  • 2. Payrnet Limited. can be contacted by email – support@payr.net. Payrnet Limited’s web address is https://www.railsbank.com/payrnet. (This is the web address of PayrNet’s parent company, Railsbank Technology Limited, and Payrnet is a wholly owned subsidiary of Railsbank and provides regulated financial services to Railsbank customers.)

 

  31.         Third Party Payment Service Providers

  • 1. This section 31 applies when you use the services of an AISP (or PISP). We may deny an AISP (or PISP) access to the online account connected to the Card for reasonably, justified and duly evidenced reasons relating to unauthorised or fraudulent access to the online account by that AISP (or PISP, including the unauthorised or fraudulent initiation of a transaction.) If we do deny access in this way, we will notify you of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP (or PISP) access to the online account once the reasons for denying access no longer apply.

 

 

  32.         Annex A – Fees Table

Please contact Paywiser for pricing quotation.

TERMS AND CONDITIONS

1. LEGAL TERMS

The provision of our service is subject to this contract and the terms and conditions stated herein. The governing laws of this contract is English laws. Both parties to this agreement shall use their best efforts to negotiate in good faith and settle amicably any dispute arising from this contract. If the dispute cannot be settled amicably through ordinary negotiation by the parties involved, the matter shall be submitted to arbitration in London Court of International Arbitration (“LCIA”) in accordance with the UK Arbitration Act 1996 and the LCIA Rules in force at the time, which rules are deemed to be incorporated by reference within this contract. .

2. MAKING PAYMENTS THROUGH YOUR ACCOUNT

IN ORER TO MAKE PAYMENT, THERE MUST BE SUFFICIENT FUND IN YOUR ACCOUNT TO MAKE PAYMENTS AND ALSO TO PAY THE MONTHLY FEE

If the balance in your account is negative for more than one month, we have the right to close the account and will collect the deficit amount from you accordingly.

We may block your payments or close your account at our absolute discretion if:

  • we suspect your account is being used for criminal activity
  • we’re prohibited by laws or regulations to maintain our relationship with you.
  • it goes over your payment limitsIf we block a payment, we’ll let you know as soon as possible.3. USING YOUR CARD

    Your card should work anywhere around the world that accepts their Debit Card, but for some ATMs you may need to use the ‘magnetic stripe’ rather than using chip and PIN.

    4. YOU AGREE TO US USING YOUR INFORMATION

    By accepting these terms, you consent to us using your information to make and receive payments on your account.

    5. PROPER USE OF YOUR ACCOUNT

    Please keep your phone, card and PIN safe at all times. If we discover any security issues affecting your account, we’ll contact you as soon as possible in the most secure way, using you contact details.

1

If you lose your card or see transactions in the App or web banking that look wrong, freeze your card and tell us as soon as possible.

We will refund any money you lost due to our mistakes or inaccuracies with your payments. But you won’t be able to claim back money you’ve lost if:

  • You gave us incorrect instructions or we can prove that the bank we sent your payment to received it (although we’ll still try to help you recover your money)
  • You purposefully didn’t keep your phone, card or PIN safe, or you were very negligent in not keeping them safe or if your account is in overdraft, you gave them to someone else
  • You acted fraudulently

If someone pays money into your account by mistake you give us permission to return it.

If you’ve used your card to make a payment which didn’t specify the exact amount (for example when hiring a car), and the final amount is higher than you could reasonably have expected, we’ll assist you to get a refund. You’ll need to tell us within 8 weeks of the transaction, and give us any information we reasonably ask for to investigate.

Errors with Direct Debits are covered by the Direct Debit guarantee scheme.

6. CLOSING YOUR ACCOUNT

You can close your account within the first 14 days of opening it, or close it at any other time. Upon closure of your account, you’ll need to repay any money you owe us before we can close your account. Once we’ve closed it, your card won’t work and you won’t be able to access your account.

We can close your account by giving you at least one month’s notice. We may close your account or stop you using your card and app immediately if we believe you’ve:

  • Breached the terms of this agreement
  • Breached the law or attempted to break the law
  • Given us false or incorrect information7. HOW TO MAKE A COMPLAINT

If you have a complaint, please contact us and we’ll do our best to fix the problem. We can be reach at Card@Paywiser.com and on our website: https://paywiser.com/contact/.

8. MAKING CHANGES TO THIS AGREEMENT

We can make changes to our charges, interest rates, or the terms of this agreement from time to time. This includes introducing new charges or rates and charging in a different way. We may make these changes, including fees we charge, because of changes to the following :

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  • Law, regulation, industry codes or Financial Ombudsman, court or regulator decisions
  • The way we run our business
  • The cost of providing your account and running our business, for example a changein our cost of funding, technology (including our systems) and service costs
  • The banking or financial services system

9. PROTECTION BY THE FSCS

Any money in your account is fully protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. In the event of insolvency, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.

General limit of protection

If a covered deposit is unavailable because we are unable to meet our financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers a maximum of £85,000. This means that all your eligible deposits held with us are added up in order to determine the coverage level. If, for instance a depositor holds a two account with respectively £80,000 and with £20,000, they will only be repaid £85,000.

Exclusions List
A deposit is excluded from protection if:

  • The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements.
  • The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.

It is a deposit made by a depositor which is one of the following:

  • credit institution
  • financial institution
  • investment firm
  • insurance undertaking
  • reinsurance undertaking
  • collective investment undertaking
  • pension or retirement fund (Note: Deposits by personal pension schemes,stakeholder pension schemes and occupational pension schemes of micro, smalland medium sized enterprises are not excluded)
  • public authority, other than a small local authority.

For further information about exclusions, please refer to the FSCS website at www.fscs.org.uk.

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10. COMMUNICATIONS

Unless requested otherwise by the clients, communications between us and the client will be in English by email. It’s the client’s responsibility to check the email and ensure the email address is correct and updated.

From time to time, you will receive notifications when you spend or receive payment into your account..

11. PROHIBITED BUSINESS

We do not accept business relationship with the following industries;

  • Cryptocurrency trading
  • Anonymous or Numbered Accounts, Shell Banking
  • Cash and Check Handling: Check Cashing, Deposit Taking, Cash Transfer
  • Credit repair, Debt Restructuring
  • Debt recovery, Debt settlement, Debt Collections
  • Financial Pyramid or Ponzi Schemes
  • Gambling and Gaming
  • MSBs and PSPs
  • Any industry known to be an illegal industry in UK or other jurisdiction
  • Illegal Drugs and Narcotics Illegal Services
  • The sale or distribution of stolen goods (including digital and virtual goods),counterfeit goods and violation of intellectual property, or items that violatesindividual privacy
  • Any products harmful to human health – tobacco, e-cigarettes and e-liquid
  • Operating a business that requires a license or special permit but without obtainingsuch license
  • Production of Adult or Violent content
  • Production or Distribution of Offensive Weapons: Ammunition, Firearms, Explosives,Complex Weapons (i.e. guided missiles), Poisons
  • Psychic services
  • Selling, hosting, distributing, producing or promoting offensive materials, includingmaterials that incites or promotes racial hatred or discrimination based on gender,race, religion, national origin, physical ability, sexual orientation, or age
  • Transactions involving Human Organs
  • Sanctioned individuals and entities

12. PROHIBITED JURISDICTIONS

The following jurisdictions are classified as prohibited jurisdictions. We cannot send or receive money or commence or maintain business relationships with persons coming from and/or business in such jurisdictions.

  • Afghanistan
  • Bahamas
  • Belarus
  • Iran
  • Iraq

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  • Lebanon
  • Libya
  • Pakistan
  • Panama
  • Syria
  • Trinidad & Tobago
  • Ukraine
  • Ethiopia
  • North Korea
  • Yemen
  • Cambodia
  • Central African Republic
  • Cuba
  • Democratic Republic of the Congo
  • Eritrea
  • Guinea
  • Guinea-Bissau
  • Haiti
  • Liberia
  • Mali
  • Myanmar (formerly Burma)
  • Russia
  • Somalia
  • South Sudan
  • Sudan
  • Venezuela
  • Zimbabwe13. LICENSEWe are authorised by the Financial Conduct Authority as an Electronic Money Institution (reference no. 901086). We are also an distributor of Payrnet Limited, an Electronic Money Institution authorised by the Financial Conduct Authority (reference number: 900594).

    14. CARDS TERMS

    14.1 Terms for the Consumer

I. These terms

I.1 These are the terms and conditions (the “Terms”) which govern the use of the personal, non-transferable card scheme branded debit card (the “Card”) which you have been issued with or will be issued with.

I.2 Why you should read them. Please read these Terms carefully before you use your Card. These Terms tell you who we are, who we work with, how you can use your Card and the steps you need to take to protect yourself from unauthorised use of the Card and how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these Terms, please contact us to discuss.

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II. Information about us and how to contact us

II.1 Who we are. We are Payrnet Limited, being the issuer of the Card (“we”, “us”, “our”) and a company incorporated in England & Wales with company number 09883437 and having its registered address at Kemp House, 152 City Road, London, UK EC1V 2NX. We are the issuer of your Card.

II.2 We are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (registration number 900594) for the issuing of electronic money (“e- money”).

II.3 PayrNet is a wholly owned subsidiary of Railsbank Technology Limited and provides regulated financial services to Railsbank customers. Payrnet outsources all IT and Operations processes to Railsbank, and therefore falls under the Railsbank Privacy Policy for the purposes of clause 10 (Data Protection).

II.4 Who we work with when providing you with services relating to the Card. Although we are the sole issuer of the Card, we work with Billion Key Limited (trading under the name of “Paywiser”), 36-38 Westbourne Grove, Newton Road, London, United Kingdom, W2 5SH (the “Distributor”). You can find out more information on the Distributor on the Distributor’s website (being www.paywiser.com) (the “Distributor’s Website”).

II.5 The Distributor will be your first point of contact in relation to these Terms, for example if you:

II.5.1 wish to cancel the Card or complain about the service you have been provided with pursuant to these Terms;

II.5.2 let us know that the Card has been or potentially has been lost, stolen or misappropriated; and

II.5.3 report an unauthorised Transactions relating to your Card.

II.6. The services provided by the Distributor are governed by a separate set of terms and conditions which are set out in the following weblink https://www.paywiser/terms_and_conditions/

II.7. We also provide you with the e-money account (the “Account”) where the funds, which can be spent using the Card, are held. Our company details are set out in section 2.1. The services provided by us for the Account are governed by a separate set of terms and conditions between you and us which are set out at https://www.paywiser/terms_and_conditions/. Please note that the funds in the Account will not earn any interest.

II.8. How to contact us. You can contact us, via the Distributor, by: II.8.1. Emailing the Distributor at card@Paywiser.com; or
II.8.2. using any of the communication methods available:
(a) on the secure area of the Distributor’s Website;

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(b) on the Distributor’s mobile application (hereinafter referred to as the “Distributor’s App”).

11.9 How we may contact you. If we have to contact you we will do so by telephone or by writing to you at the telephone number, email address or postal address you provided to us or the Distributor. Any changes to your telephone number, email address or postal address or other personal data we hold about you must be notified by you immediately and in writing in accordance with section 2.7.

III. Commencement and expiry of these Terms

III.1 You shall be deemed to accept these Terms by using the Card. The Card shall remain our property and will be delivered by us, or on our behalf, by the Distributor.

III.2 The Terms, excluding Section 7.3, will terminate on the expiry date printed on the Card (“Expiry Date”) unless the Card is auto-renewed, in which case you will be issued with a new Card before the existing one expires. In this instance these Terms will remain valid until the existing Card expires or is otherwise as set out in these Terms.

IV. Issuance and activation of the Card

IV.1 You may be issued with:

IV.1.1 a “physical” Card, which will have the details of the PAN, the Expiry Date of the Card and the CVV code printed on it (the “Physical Card”); or

IV.1.2 a “virtual” Card, in which case you will not receive a Physical Card but will receive details of the PAN, the Expiry Date and the CVV2 code (the “Virtual Card”).

IV.2 In order to start using the Card, you may be required to activate it in accordance with instructions given to you by the Distributor. You must keep your Physical Card and the details of the Virtual Card (as applicable) in a safe place and protect it against unauthorised access or use by third parties.

IV.3 If you are issued with a Physical Card:

  • you must sign the Physical Card as soon as you receive it;
  • you may also receive a secret personal identification number (“PIN”) separately by post or you may be able to retrieve it electronically via the Distributor’s Website or the Distributor’s App.

IV.4 You should memorise your PIN when you receive it. If you need to keep the written version of the PIN or separately write the PIN down for future reference, you must never keep it with the Card. You must never disclose your PIN to any other person, not even us. If you have not protected your PIN and your Card is used without your knowledge using the correct PIN, this may be classed as negligence for the purposes of Section 8.

IV.5 You can manage the Card on your secure area of the Distributor’s Website and on the Distributor’s App.

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IV.6 The Card shall remain valid until the Expiry Date. If you require a replacement Card, please contact us using the contact details set out in contract. Please note that an additional fee may be charged for a replacement Card – please see the fees section for more information.

IV.7 The Card is an e-money product and as such it is not covered by the Financial Services Compensation Scheme. You may only use the Card for lawful Transactions.

V. Transactions

V.1 Should the relevant card scheme and/or programme allow, you may use your Card to enter into the following transactions (hereinafter referred to as “Transactions”):

  • purchasing goods and/or services from merchants affiliated with the card scheme on your Card;
  • withdrawing cash from authorised banks worldwide;
  • receiving cash back from merchants (merchant dependent);
  • making cash withdrawals from automatic teller machines (“ATMs”).

V.2 You can authorise a Transaction by:

  • allowing a merchant to swipe the magnetic strip of the Card and the corresponding sales slip being signed; or
  • inserting the Card into a chip & PIN device and the correct PIN being entered;
  • providing relevant information to the merchant that allows the merchant to process the Transaction, for example, providing the merchant with the PAN, the Expiry Date and the CVV2 in the case of an internet or other non-face-to-face Transaction;
  • relevant information being provided to the payment initiation service provider that allows the payment initiation service provider to process the Transaction;
  • the Card is tapped against a “contactless” enabled reader and accepted by such reader.

V.3 If any of the methods of authorisation set out above are used, we shall be entitled to assume that you have authorised a Transaction unless we were informed that the relevant details of the Card have been lost, stolen or misappropriated prior the Transaction taking place.

V.4 You acknowledge the correctness of the amount of each Transaction which you authorise.

V.5 Once you have authorised a Transaction, the Transaction cannot be stopped or revoked. You may in certain circumstances be entitled to a refund in accordance with these Terms.

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V.6 On receipt of notification of your authorisation of a Transaction and the Transaction payment order from the merchant and/or authorised bank, normally we will deduct the value of the Transaction, plus any applicable fees and charges, from the available funds in the Account. We will execute the Transaction by crediting the account of the merchant’s or ATM operator’s or bank’s (as applicable) payment service provider by the end of the next business day following the notification. If the notification is received on a non-business day or after 4:30 pm on a business day, it will be deemed received on the next business day.

V.7 We are not liable if, for any reason, the affiliated merchants or authorised banks do not accept the Card, or accept it only partly, nor are we liable in the case of late delivery of, or failure to deliver, goods or services. In the event of disputes or complaints of any kind concerning goods or services, or the exercise of any right in this connection, you should contact the affiliated merchant and/or authorised ban and/or ATM operator.

V.8 It is your responsibility to ensure that there are available funds in your Account to cover any spend, allowing for any foreign exchange fees and other applicable fees under these Terms. Should the Account at any time and for any reason have a negative balance, you shall repay the excess amount immediately and in full.

V.9 For Card usage conducted in other currencies (other than the currency of the Card), you shall accept the exchange rate used by Visa, which can be found https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html. Any changes in exchange rates may be applied immediately and without notice. The exchange rate, where applicable to a Transaction, will be shown in the e-statement. Please be careful when opting to use a merchant’s, bank’s or ATM operators exchange rates as they are often less competitive that the card scheme’s exchange rate.

V.10 The maximum amount you may withdraw in cash shall be subject to a daily limit, irrespective of the available funds in the Account. We may charge a fee for withdrawal of cash. Some ATMs may charge an additional fee, which is not included in the Table, however, will apply on top of the fees set out in the Table.

V.11 The Issuer have the right to review and change the spending limits on the Card at any time. You will be notified of any such changes accordingly.

VI. Non-execution of a Transaction

VI.1 In certain circumstances we may refuse to execute a Transaction that you have authorised. These circumstances include:

  • if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner;
  • if there are insufficient funds available to cover the Transaction and all associated fees at the time that we receive notification of the Transaction or if there is an outstanding shortfall on the balance of the Account;
  • if we have reasonable grounds to believe you are acting in breach of these Terms;
  • if there are errors, failures (mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing Transactions.

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• if we are required to do so by law.

VI.2 Unless it would be unlawful for us to do so, where we refuse to complete a Transaction, we will notify you as soon as reasonably practicable that it has been refused and the reasons for the refusal, together, where relevant, with the procedure for correcting any factual errors that led to the refusal. Where the refusal is reasonably justified, we may charge you fee when we notify you that your payment request has been refused.

VI.3 You may also claim a refund for a Transaction that you authorised provided that your authorisation did not specify the exact amount when you consented to the Transaction, and the amount of the Transaction exceeded the amount that you could reasonably have expected it to be taking into account your previous spending pattern on the Card, these Terms and the relevant circumstances.

VI.4 Such a refund must be requested from us within 8 weeks of the amount being deducted from the Card. We may require you to provide us with evidence to substantiate your claim. Any refund or justification for refusing a refund will be provided within 10 business days of receiving your refund request or, where applicable, within 10 business days of receiving any further evidence requested by us. Any refund shall be equal to the amount of the Transaction. Any such refund will not be subject to any fee.

VII. Access to information on Transactions and available funds in the Account

VII.1 The Distributor has set up a secure area on the Distributor’s Website and on the Distributor’s App where you can view the available balance in your Account and view the details of any Transactions you have entered into. You can gain access to this by following the instructions on the Distributor’s Website or the Distributor’s App. You must keep the credentials to obtain access to the secure areas safe and not disclose them to anyone.

VII.2 We can, upon request, send you monthly information (“e-statement”) by email setting out:

  • a reference enabling you to identify each Transaction;
  • the amount of each Transaction;
  • the currency in which the Card is debited;
  • the amount of any Transaction charges including their break down, where applicable;
  • the exchange rate used in the Transaction by us and the amount of the Transaction after the currency conversion, where applicable; and
  • the Transaction debit value date.

If you would like us to provide you with the e-statement more often than monthly or not by email (or if agreed differently under this section 7, more often than agreed or in a different manner than agreed) then we may charge you a reasonable administration fee to cover our costs of providing the information more often or in a different manner.

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VII.3 If for any reason you have some available funds left in your Account following the termination of these Terms, you may redeem them in full up to 6 years following the termination.

VIII. Loss of the Card / Transaction refunds

VIII.1 As soon as you become aware of any loss, theft, misappropriation or unauthorised use of the Card, PIN or other security details, you must immediately notify us using the contact details set out in section 2.7.

VIII.2 In the event of theft, you should consider reporting the theft to the police.

VIII.3 If we believe you did not authorise a particular Transaction or that a Transaction was incorrectly carried out, in order to get a refund you must contact us as soon as you notice the problem using the contact details set out in section 2.7, and in any case no later than 13 months after the amount of the Transaction has been deducted from your Account.

VIII.4 We will refund any unauthorised Transaction and any associated Transaction fees and charges payable under these Terms subject to the rest of this section 8.

VIII.5 This refund shall be made as soon as practicable and in any event no later than the end of the business day following the day on which we become aware of the unauthorised Transaction, unless we have reasonable grounds to suspect fraudulent behaviour and notify the appropriate authorities. If we become aware of the unauthorised Transaction on a non- business day or after 4:30 pm on a business day, we will be deemed to have only become aware of the unauthorised Transaction at the beginning of the next business day.

VIII.6 If we are liable for an incorrectly executed Transaction, we will immediately refund you the amount of the incorrectly executed Transaction together with and any associated Transaction fees and charges payable under these Terms. Depending on the circumstances, we may require you to complete a dispute declaration form relating to the incorrectly executed Transaction. We may conduct an investigation either before or after any refund has been determined or made. We will let you know as soon as possible the outcome of any such investigation.

VIII.7 If a Transaction initiated by a merchant (for example, this happens when you use the Card in a shop) has been incorrectly executed and we receive proof from the merchant’s payment service provider that we are liable for the incorrectly executed Transaction, we will refund as appropriate and immediately the Transaction and any associated Transaction fees and charges payable under these Terms.

VIII.8 We are not liable for any incorrectly executed Transactions if we can show that the payment was actually received by the merchant’s payment service provider, in which case they will be liable.

VIII.9 If you receive a late payment from another payment service provider (e.g. a refund from a retailer’s bank) via us, we will credit the Account with the relevant amount of any associated fees and charges so that you will not be at a loss.

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VIII.10 We will limit your liability to £35 for any losses incurred in respect of unauthorised Transactions subject to the following:

  • you will be liable for all losses incurred in respect of an unauthorised Transaction if you have acted fraudulently, or have intentionally or with gross negligence failed to: (a) look after and use the Card in accordance with these Terms; or (b) notify us of the problem in accordance with this section 8;
  • except where you have acted fraudulently, you will not be liable for any losses:

(a) incurred in respect of an unauthorised Transaction which arises after your notification to us of the loss, theft or misappropriation of the Card;

(b) arising where you have used the Card in a distance contract, for example, for an online purchase;

(c) arising where the loss, theft or misappropriation of the Card was not detectable by you before the unauthorised Transaction took place;

  1. (d)  where we have failed to provide you with the appropriate means of notification;
  2. (e)  arising where we are required by law to apply Strong Customer Authentication

but fail to do so;

(f) the losses were caused by an act or omission of any employee, agent or branch of ours or any entity which carries out activities on our behalf.

VIII.11 “Strong Customer Authentication” means authentication based on the use of two or more elements that are independent, in that the breach of one element does not compromise the reliability of any other element, and designed in such a way as to protect the confidentiality of the authentication data, with the elements falling into two or more of the following categories: (a) something known only by you (“knowledge”), (b) something held only by you (“possession”); (c) something inherent to you (“inherence”). Strong Customer Authentication it is used to make Transactions more secure.

VIII.12 We are required to provide Strong Customer Authentication when:

VIII.12.1 you view the available balance on your Account either through the Distributor’s Website or the Distributor’s App and/or through an account information service provider (“AISP”);

VIII.12.2 when you initiate an electronic Transaction, directly [or when you initiate a remote electronic Transaction through a payment initiation service provider (“PISP”)]; or

VIII.12.3 when you carry out any action through a remote channel which may imply a risk of payment fraud or other abuses.

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VIII.13. If our investigations show that any disputed Transaction was authorised by you or you may have acted fraudulently or with gross negligence, we may reverse any refund made and you will be liable for all losses we suffer in connection with the Transaction including but not limited to the cost of any investigation carried out by us in relation to the Transaction. We will give you reasonable notice of any reverse refund.

IX. Blocking of the Card

We may block the Card, in which case you will not be able to execute any further Transactions, if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner. We will notify you of any such blocking in advance, or immediately after if this is not possible, and of the reasons for the suspension unless to do so would compromise reasonable security measures or otherwise be unlawful. We will unblock the Card and, where appropriate, issue a new Card, PIN and other security features free of charge as soon as practicable once the reasons for the suspension cease to exist.

X. Data Protection

X.1. You agree that we can use your personal data in accordance with these Terms and our privacy policy. The privacy policy includes details of the personal information that we collect, how it will be used, and who we pass it to. You can tell us if you do not want to receive any marketing materials from us. For the avoidance of doubt, we will share your personal data with the Issuer.

X.2. To comply with applicable know-your-client-rules and anti-money laundering regulations (such as the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002, we and/or the Issuer and/or each of our banking providers and any other business partner (the “Partner”) shall be entitled to carry out all necessary verifications of your identity. The above-mentioned parties may use a recognised agency for this verification purposes (details of the agency used will be provided to you on request). Such verifications will not affect your credit score but may leave a ‘soft footprint’ on your credit history.

XI. Fees and spending limits

XI.1. You are liable for paying all fees arising from your use of the Card and subject to all spending limits placed on the Card by us.

XI.2. The fees and spending limits on the Card are set out:

  • on the secure area of the Distributor’s Website; and/or
  • on the Distributor’s App.

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XII. Complaints

XII.1 If you would like to make a complaint relating to these Terms, please contact us using the contact details in this contract. We will promptly send you a complaint acknowledgement and a copy of our complaints procedure.

XII.2 Please note that you may request a copy of our complaints procedure at any time. Details of our complaints procedure can also be found on our website. You agree to cooperate with us and provide the necessary information for us to investigate and resolve the complaint as quickly as possible.

XII.3 We will endeavour to handle your complaint fairly and quickly, however, if you are not satisfied with the outcome, you may contact the Financial Ombudsman Service at Exchange Tower, London E14 9SR; telephone: 0800 023 4567 or 0300 123 9 123; website: http://www.financial-ombudsman.org.uk; and e-mail: complaint.info@financial- ombudsman.org.uk

XIII. Third Party Payment Service Providers

XIII.1 This section 13 applies when you use the services of an AISP or a PISP.

XIII.2 We may deny an AISP or PISP access to the Account for reasonably justified and duly evidenced reasons relating to unauthorised or fraudulent access to the Account by that AISP or PISP, including the unauthorised or fraudulent initiation of a Transaction. If we do deny access in this way, we will notify you of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP or PISP access to the Account once the reasons for denying access no longer apply.

XIV. Cooling off period

If you purchased the Card online or by some other remote means, for example via telephone, you are entitled to a 14-day “cooling off” period from the date your received your original Card during which you may cancel the Card. Should you wish to cancel the Card and these Terms during the “cooling off” period, please return the Card to the Issuer directly, Kemp House, 152 City Road, London, England, EC1V 2NX unsigned and unused within 14 days of issue and a full refund of any fees paid to date will be made to you. If you have used the Card, you will not be entitled to a refund of any funds that have been spent, including any associated fees, but we will refund any unspent available funds free of charge.

XV. Other important terms

XV.1 The Terms and all communications will be in English. If we need to contact you in the event of suspected or actual fraud or security threats, we will first send you an SMS or email prompting you to contact our customer services team using the contact information we have been supplied with.

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XV.2 We may transfer this agreement to someone else. We may transfer our rights and obligations under these Terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.

XV.3 You need our consent to transfer your rights to someone else. You may only transfer your rights or your obligations under these Terms to another person if we agree to this in writing.

XV.4 Nobody else has any rights under this contract. This contract is between you and us. No other person shall have any rights to enforce any of its terms.

XV.5 Changes to these Terms / Termination. We reserve the right to amend these Terms for any reason by giving you two-months’ notice by e-mail. You will be deemed to have accepted the changes if you raise no objection prior to the expiry of the period set out in the notice. If you do not wish to accept the changes, you may terminate these Terms immediately and without charge by proving us with notice at any time prior to the expiry of the notice period. At all other times you may terminate these Terms at any time by giving us one months’ notice in accordance with section 2.7 and we may terminate these Terms by giving you two months’ notice in accordance with section 2.8.

XV.6 If a court finds part of this contract illegal, the rest will continue in force. Each of the sections and sub-sections of these Terms operate separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

XV.7 Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these Terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you do not pay us on time and we do not chase you but we continue to provide the services, we can still require you to make the payment at a later date.

XV.8 Which laws apply to this contract and where you may bring legal proceedings. These Terms are governed by English law and you can bring legal proceedings in respect of these Terms in the English courts. If you live in Scotland you can bring legal proceedings in respect of the these Terms in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of these Terms in either the Northern Irish or the English courts.

14.2 Terms for a Business
Corporate Terms and Conditions for Business Visa Debit Cards issued by Payrnet Limited.

These terms and conditions apply to your business debit card. You accept these terms and conditions by activating your debit card. You should read them carefully before activating your debit card. In these terms and conditions “you” means the Business and/or the named debit Cardholder authorised by the Business to use the Card.

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I. Definitions

In these terms and conditions the following words and expressions have the following meanings:

“Account” “Agreement”

“Authorised” and “Authorisation”

“Available Balance” “Business” “Business Day” “Card”

“Card Distributor”

“Card Distributor’s App”

“Card Distributor’s Contact Details”

“Card Distributor’s Website”

“Cardholder”

means the electronic money account associated with the Card;

means this Agreement of open-ended duration between you and us incorporating these terms and conditions, as amended from time to time;

mean the act of authorising a payment transfer by using the Card together with (i) the PIN code; or (ii) the CVV code and Expiry Date; or (iii) the use of contactless technology; or (iv) the signature of the Cardholder or

means the value of unspent funds in the Account which are available for a Cardholder to spend;

means the party authorised to fund the Account and to whom the electronic money is issued, which for the avoidance of doubt is not a Micro-Enterprise;

means a day other than a Saturday or Sunday on which banks are open for business in London;

means a Card, which is a Visa debit card, provided by us to a Cardholder whereby the Cardholder can spend Available Balance;

means Billion Key Ltd, being your first point of contact if you have an issue with the Card or this Agreement, the contact details of which are set out in clause 2.

Means the Card Distributor’s mobile application relating to the Account and the Card.

Means the email address card@paywiser.com and/or the Card Distributor’s Website

means www.paywiser.com, being the website belonging to the Card Distributor.

means the person authorised by the Business to use the Card to spend Available Balance in the person’s capacity as a representative of the Business and not in its own personal capacity. For the avoidance of doubt a Cardholder is not acting as a consumer for the purposes of this Agreement;

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“Expiry Date” “Fee”

“Fees Schedule” “Issuer”

“KYC”
“Merchant” “Micro-Enterprise”

“PIN”

“Shortfall”

“Transaction”

“Virtual Card” “you”

means the expiry date of the Card, which will usually be printed on the Card.

means any fee assessed against a Card, as referenced in the Fees Schedule;

means the fee schedule which may be updated from time to time. The current version is available on the Card Distributor’s Website or Card Distributor’s App;

means Payrnet Limited, further details of which are set out in clause 30.

means ‘know your customer’ which means the requirements for knowledge of and information on customers of regulated entities in order to comply with anti-money laundering and counter-terrorist financing law;

means a retailer or any other person that accepts Cards;

means an entity which is engaged in an economic activity of any form which employs fewer than 10 people and whose annual turnover and/or balance sheet total that does not does not exceed €2 million;

means the personal identification number associated with a Card which can be used as one method of Authorising Transactions;

means when the balance of Available Balance is negative for whatever reason, including when a Transaction has been Authorised when there was not a sufficient Available Balance;

means: (i) paying a Merchant for goods and/or services through Authorising the Card; and (ii) obtaining cash from an ATM or bank by Authorising the Card;

means where applicable a non-physical Card.

means the Business and/or the Cardholder, as the context may require.

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II. Contact Details

1. The Card can be activated and managed online via the Card Distributor’s Website and/or via the Card Distributor’s App.

2. The Card Distributor should be your first point of contract if you have any issues with the Card or this Agreement. The Card Distributor’s contact details are as follows:

III. This Agreement

1. This Agreement governs the relationship between you and us for the provision of the Card by us to the Cardholder. This Agreement also contains important warnings and information that may affect your rights. By using your Card, you will 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. The Card remains our property. The Card is not transferable.

IV. The Card

1. The Card is a debit card; it is not a credit, charge or pre-paid card. The Business will not earn any interest on any funds sent to the Account.

2. You must ensure that there is sufficient Available Balance to enter into each Transaction that you enter into using the Card (including value added tax and any other taxes, charges and Fees that are applicable).

3. Depending on your program you may receive a Virtual Card. In such cases we will provide You with the number of the Virtual Card, the Expiry Date of the Virtual Card and the CVV2 code.

4. If for any reason a Transaction is processed and the Transaction amount exceeds the Available Balance, the Business must repay us the amount of such excess immediately and we will be entitled to stop any existing or subsequent Transactions from proceeding.

V. KYC

1. We require evidence of who you are and your address for our KYC procedures. We may ask the Cardholder or the Business to provide some documentary evidence to prove this and/or we may carry out checks on you electronically.

2. The files of credit reference agencies may be searched to assist in the identity verification process. This is not a credit search and does not have a detrimental effect on an individual’s credit score/rating or influence an individual’s ability to obtain or raise credit. The credit reference agency will keep a record of any search and this will show as a ‘soft footprint’ on your credit record to alert you that a search was conducted.

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VI. Funds in the Account

1. Only the Business can add money to the Account. The Cardholder will not be able to add money to the Account.

2. We reserve the right to suspend or terminate the right add money to the Account at any time without notice.

3. The Business solely owns the funds representing the Available Balance and is the beneficial owner of these funds.

VII. Service limits

1. 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 right to change particular payment restrictions (including from those published or included herein) without notice and to the extent required to meet our regulatory obligations.

VIII. Use of the Card

1. To activate the Card you will need to log onto the Card Distributor App or Card Distributor’s Website and use the activate card function.

2. We will be entitled to assume that a Transaction has been Authorised by You where (i) the magnetic strip on the Card was swiped by the Merchant; (ii) the Card was inserted into a chip & PIN device and the PIN was entered; (iii) relevant information was supplied to the Merchant that allows them to process the Transaction, for example, providing the Merchant with the 3-digit security code on the back of the Card in the case of an internet or other non- face-to-face Transaction; or (iv) the Card is tapped against a contactless-enabled reader and accepted by such reader.

3. The Cardholder should only use the Card as permitted by the Business. If the Cardholder uses the Card, we are entitled to presume that the Cardholder has the Business’ permission to spend the Available Balance until notified to the contrary by the Business. The Cardholder can use the Card up to the amount of the Available Balance for Transactions (i) via the Internet, (ii) at Merchants and (iii) to make cash withdrawals from ATMs, provided that such application is included in the card program.

4. We will deduct the value of the Transactions from the Available Balance in the Account. We will also deduct any applicable Fees as soon as they become payable by the Business based upon the Fees Schedule.

5. ATM withdrawals may also be subject to fees, foreign exchange rates, maximum withdrawal limits, 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.

6. Like other card issuers, we cannot guarantee a Merchant, an ATM operator or a bank will accept the Card.

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7. We may at any time suspend, restrict or terminate the Card and/or the Account, refuse to issue or replace a Card or refuse to authorise a Transaction for reasons relating to the following:

7.1. if we have reasonable grounds to believe that the Card is being in a way which is not approved by the Business;

7.2. if we have reasonable grounds to believe that the security of the Card has been compromised or suspect that the Card is being used in an unauthorised or fraudulent manner;

7.3. if there is insufficient Available Balance in the Account at the time of a Transaction to cover the amount of the Transaction and any applicable Fees;

7.4. if there is an outstanding Shortfall in the Account;

7.5. if we have reasonable grounds to believe that you are acting in breach of this Agreement;

7.6. if we have reasonable grounds to believe that a Transaction is potentially suspicious or illegal (for example, if we believe that a Transaction is being made fraudulently) or because of errors, failures (whether mechanical or otherwise) or refusals by Merchants, payment processors or payment schemes processing Transactions, or

7.7. if we need to do so in order to comply with the law.

8. If we do this, we will inform you of the action taken and its reasons in advance or, if that is not possible, immediately after, unless to do so would compromise reasonable security measures or be otherwise unlawful. We will reactivate the Account and where appropriate issue you with a replacement Card if after further investigations we reasonably believe that the reasons for the action no longer apply.

9. The Business will remain responsible to the Issuer for the use of the Card. Your ability to use or access the Card may occasionally be interrupted, for example, if we need to carry out maintenance on our systems. Please contact us using the contact details set out in clause 2 to notify us of any problems you are experiencing using the Card or Account and we will endeavour to resolve any problem.

10. You can manage the Card and view your e-statements by accessing the Account online via the Card Distributor’s Website or Card Distributor App. You may at any time view the details of the Transactions in the Account using the relevant credentials. You must keep your credentials safe and not disclose them to anyone. The Account will include all Transactions notified to us up to the evening of the previous Business Day.

11. Your transaction information (“e-statement”) will contain: (i) a reference enabling you to identify each Transaction; (ii) the amount of each Transaction; (iii) the currency in which the Card is debited; (iv) the amount of any Transaction charges including their break down, where applicable; the exchange rate used in the Transaction and the amount of the Transaction after the currency conversion, where applicable; and (v) the Transaction debit value date.

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IX. Conditions of use at certain Merchants

1. In some circumstances we or Merchants may require you to have an Available Balance in excess of the Transaction amount.

2. Some Merchants may not accept payment using the Card. It is your responsibility to check the policy with each Merchant. We accept no liability if a Merchant refuses to accept payment using the Card.

X. Keeping the Card secure and liability

1. You are responsible for the Card, Account and PIN. Do not share the Card or Account security details with anyone.

2. You must take all reasonable steps to keep the PIN safe and separate from the Card or any record of the Card number and not disclose it to anyone else. This includes:

2.1. not keeping your PIN with the Card;

2.2. not storing the PIN on a device which is not password protected;

2.3. never sharing your PIN with anyone;

2.4. when entering your PIN, taking all reasonable steps to ensure it cannot be observed by others;

2.5. not entering your PIN into any terminal that appears to be modified or suspicious, and

2.6. if you believe that anyone has gained unauthorised access to your PIN, notifying us without undue delay following the procedures in clause 16.

3. You will need a PIN in order to make payments at a Merchant or cash withdrawals (from an ATM or a bank) with the Card. If you forget your PIN, you may retrieve the PIN or request a replacement PIN by using the contact details set out in clause 2.

4. We recommend that you check your Available Balance in your Account regularly on the Card Distributor’s Website or App. You will be provided with your Available Balance and a statement of recent Transactions on the Account either by electronic means or on the Card Distributor’s Website or on the Card Distributor App at any time. We also recommend and instruct you to go thoroughly over all the Transactions on a regular basis on the Card Distributor’s Website or App.

5. The Business will be liable for all losses, including any related fees and charges, for any unauthorised Transaction if we can show that you have (i) acted fraudulently or (ii) failed with intent or gross negligence to use and keep safe the Card, Account or PIN in accordance with this Agreement.

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6. The Business will also be liable for all losses, including any related fees and charges, for any unauthorised or incorrectly executed Transaction if you fail to notify us without undue delay on becoming aware of the Transaction, and in any event within 30 days of the Transaction debit date.

7. In all other circumstances, the maximum liability will be as set out in this clause 10 and in clauses 16 and 18.

8. If you believe that someone else knows the Account or Card security details, you should contact us without undue delay.

9. Once any Card on the Account has expired or if it is found after you have reported it as lost or stolen, you agree to destroy it by cutting it in two through the magnetic strip.

10. The Business agrees to indemnify and hold us harmless from and against all reasonable costs of any legal action taken to successfully enforce this Agreement arising out of a material breach of any of the terms and conditions of this Agreement by you or by your fraudulent conduct.

XI. Authorising and executing Transactions

1. Once a Transaction is Authorised, it cannot be withdrawn or revoked.

2. Within the European Economic Area (EU countries plus Iceland, Liechtenstein and Norway) we will usually execute the Transaction by transferring the amount of the Transaction to the payment service provider of the Merchant by the end of the next Business Day following the receipt of the instructions to transfer the amount. If we receive the instructions after 4:30 pm, they will be deemed received by us on the following Business Day. If the payment service provider of the Merchant is located outside the EEA, we will execute the Transaction as soon as possible.

XII. Communications regarding the Account

1. You can check the Available Balance and Transaction history at any time by logging onto the Distributor’s Website or App.

XIII. Cancelling the Card and terminating the Agreement

1. If you wish to terminate this Agreement at any time, you must request cancellation or termination by contacting us using the contact details set out in clause 2 informing us of your wish to terminate. The Agreement also terminates upon Card expiry subject to clause 14.

2. Once we have received all the necessary information from you and we have completed and are satisfied with the outcome of applicable anti-money laundering, fraud and other illegal activity checks (including KYC), and once all Transactions and applicable fees and charges have been processed, we will send any Available Balance to the Business’s designated payment or bank account less any fees and charges payable to us, provided that no law, regulation, law enforcement agency, court or regulatory authority requires us to withhold the Available Balance. If we are not able to send the Available Balance for whatever reason, it will be safeguarded pursuant to clause 30 for a maximum period of twenty (20) years, after which time it will become our property. A fee will be charged during this period

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until either the Available Balance is sent to the Business or it is exhausted. The Available Balance will be sent as soon as it is possible to do so.

3. A Fee may be charged for cancellation (see clause 20 below) unless you have arranged to transfer any unused funds to another Card managed by us for the Business.

4. If, following distribution of the Available Balance to the Business, any further Transactions are found to have been made or charges or fees incurred using the Card or we receive a reversal of any prior Transaction, we will notify the Business of the amount and the Business must immediately repay us such amount on demand as a debt.

XIV. Expiry & redemption

1. The funds on the Account will no longer be usable following the Expiry Date of the most recent Card that was issued under the Account until a replacement Card is issued.

2. The Card and this Agreement will terminate on the Expiry Date unless you are issued a renewal Card prior to the Expiry Date. You may not use the expired Card after the Expiry Date. If a Card expires before the Available Balance is exhausted, the Available Balance on the Expiry Date will be returned to the Business as set out in and subject to clause 13.

3. We will have the right to set-off, transfer, or apply part or all of the Available Balance to satisfy all or any liabilities and fees owed to us by the Business that have not been paid or satisfied when due.

4. Authorisation will be requested for a Transaction at the time of the Transaction. In the unlikely event, for any reason whatsoever, a Transaction is completed when there are insufficient funds on the Account for that Transaction which results in a Shortfall, the Shortfall will be repaid by the Business unless it is due to:

4.1. an error on the part of the Merchant to which the Card was provided by you as the means of payment, or

4.2. an error on the part of the Issuer.

5. Should the Business not repay this amount immediately after receiving an invoice or notification from us or the Card Distributor, we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding.

XV. Termination and suspension of Card and Account
1. We may terminate the Agreement for any reason by giving you at least 30 days’ notice. 2. We may terminate the Agreement without prior notice if:

2.1. you breach an important part of this Agreement, or repeatedly breach the Agreement and fail to resolve the matter in a timely manner;

2.2. we so agree with the Business;

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2.3. the Business fails to pay fees or charges that you have incurred or fail to cure any Shortfall, or

2.4. we are required to do so by law or by the card scheme (for example, where the provision of the Card to you becomes unlawful).

3. We may also terminate this Agreement or suspend the Card or Account without prior notice if:

3.1. we reasonably believe the Card is deliberately being used by you to commit fraud or for other illegal purposes, or

3.2. we discover that any of the information you provided us with when you applied for the Card was incorrect.

4. If we terminate the Agreement without prior notice, we will tell you as soon as practicable afterwards unless we are prohibited by law from doing so.

XVI. Lost and stolen Card and the right to a refund for unauthorised Transactions

1. If you know or suspect that the Card is lost or stolen, or that the PIN code is known to an unauthorised person, or if you think a Transaction has been unauthorised, you must tell us without undue delay by calling us using the number set out in clause 2 of this Agreement.

2. A Transaction will be considered to be unauthorised if you have not given your consent for the Transaction to be made by Authorising it. In order for any unauthorised Transaction amount to be refunded to the Account, you must report the Transaction without undue delay upon becoming aware of it. A refund cannot be made for any unauthorised Transaction reported after 30 days have passed following the debit date of the Transaction.

3. Despite the possible 30 day’s refund period, a refund cannot be made for an unauthorised Transaction if the Transaction was correctly displayed in the Account activity online and you failed to inform us about the Transaction being unauthorised without undue delay upon seeing the Transaction in the Account activity online. In this respect we urge you to check the Account activity online on a regular basis and review the Transactions carefully.

4. When you call using the contact details set out in clause 2, you will be asked to provide us with the Card’s number where possible and some other identifying details. If there is an Available Balance remaining in the Account, we will replace the Card for the Account. Alternatively, the Available Balance can be redeemed to the Business. If we replace the Card, the Card will be delivered to the registered address subject to possible Fees.

5. We will refund as soon as possible, and no later than by the end of the day on which the unauthorised Transaction is reported by you, the full amount of any unauthorised Transaction reported by you, including any associated Fees and charges, provided you notify us of the Transaction in accordance with this Agreement except that:

5.1. we will refund at the beginning of the next Business Day any unauthorised Transactions reported on a day that is not a Business Day or reported after 4:30 pm on a Business Day;

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5.2. if there is evidence that you acted fraudulently or have with intent or gross negligence failed to comply with the Agreement in relation to the use of the Card and safety of the Card’s security details, we will first carry out a prompt investigation to determine whether the Transaction was Authorised by you and will only refund if the investigation shows that the Transaction was not Authorised by you, and

5.3. if the Card was lost or stolen or you have failed to keep your PIN or other security details safe from misappropriation, the Business will be liable for losses up to a maximum of 35 GBP (or equivalent in another currency) per instance of loss, theft or misappropriation.

6. The Business will be liable for all losses incurred in respect of an unauthorised Transaction where you have acted fraudulently or have with intent or gross negligence failed to comply with the Agreement in relation to the use of the Card and safety of its security features.

7. Except where you have acted fraudulently the Business will not be liable for any losses incurred in respect of an unauthorised Transaction arising after you notify us of the Transaction in accordance with the Agreement. The Business is not liable for any losses that occur where the Card has been used in a ‘card not present’ environment except where you have acted fraudulently or with intent or gross negligence.

8. If there is evidence that you checked the online Account and did not notify us of the unauthorised Transaction without undue delay, we may not refund the Account.

9. We reserve the right to investigate any disputed Transaction or misuse of the Card before and after a refund. In order to do so we may need more information and assistance from you and you are required to reasonably cooperate with any investigation by us or any law enforcement agency or other competent authority. If we make a refund following the claim and subsequently establish that the conditions for the refund have not been met, we may deduct it from the Available Balance after notifying you. If there is no sufficient Available Balance, the Business must repay us the amount immediately on demand.

XVII. Our liability
1. We will not be liable for any loss arising from:
1.1. your inability to use the Card as set out or for any reason stated in clauses 10 and 13;

1.2. any cause which results from abnormal or unforeseen circumstances beyond our control, consequences of which would have been unavoidable despite all our efforts to the contrary, including but not limited to fault in or failure of data processing systems, lack of funds, maximum withdrawal limits set by ATM operators;

1.3. a Merchant refusing to accept the Card;
1.4. any issue with the goods or services that are purchased with the Card;

1.5. any loss or theft that is reported later than 30 days following the debit date of the Transaction in question;

1.6. our compliance with legal and regulatory requirements;

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1.7. our suspending, restricting or cancelling the Card or refusing to issue or replace it in accordance with clause 8 above, or

1.8. loss or corruption of data unless caused by our wilful default.

2. From time to time, your ability to use the Card may be interrupted, e.g. when we carry out maintenance to improve and keep the service running for our customers. If this happens, the Business may be unable to add funds to your Account, and/or you may be unable to:

2.1. use the Card to enter into a Transaction, and/or

2.2. obtain information about the funds available in your Account and/or about the recent Transactions.

3. We will not be liable for any loss arising from such interruptions.

4. We are also not liable for:

4.1. business interruption, loss of revenue, goodwill, opportunity or anticipated savings, or

4.2. any indirect or consequential loss arising from your total or partial use or inability to use the Card, or the use of the Card by any third party.

5. To the fullest extent permitted by relevant law, and subject to clauses 16 and 18, our total liability under or arising from this Agreement will be limited as follows:

5.1. where the Card is faulty due to our default, our liability will be limited to replacement of the Card; and

5.2. where sums are incorrectly deducted from the Available Balance due to our fault, our liability will be limited to payment to the Business of an equivalent amount, and

5.3. in all other circumstances of our default, our liability will be limited to repayment of the amount of the Available Balance.

6. No party will 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.

7. The above exclusions and limitations set out in this clause 17 will apply to any liability of our affiliates, such as Visa or other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Agreement.

XVIII. The right to a refund for Authorised and incorrectly executed Transactions

1. A refund may be made for an Authorised Transaction if (i) your Authorisation of the Transaction did not specify the exact amount at the time of the Authorisation, and (ii) the amount exceeded what you would have reasonably expected taking into consideration your previous spending patterns and other relevant circumstances. A claim for a refund of such a Transaction must be made within 30 days from the date on which the funds were deducted

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from the Available Balance. We may require you to provide us with such information as is reasonably necessary to ascertain whether the conditions for the refund are met. Within ten (10) Business Days of receiving (i) the claim for a refund or (ii) where applicable, any further information we requested from you, we will either refund the full amount of the Transaction to the Account or provide you with justification for refusing the refund.

2. In order to receive a refund to the Account for an incorrectly executed Transaction (including non-executed or defectively executed Transaction), you must report the Transaction without undue delay upon becoming aware of it. A refund will not be made for any incorrectly executed Transaction reported after 30 days have passed following the debit date of the Transaction.

3. Despite the possible 30 days refund period a refund will not be made for an incorrectly executed Transaction if the Transaction was correctly displayed in the Account activity online and you failed to inform us about the Transaction being incorrectly executed without undue delay upon seeing the Transaction in the Account activity online. In this respect we urge you to check the Account activity online on a regular basis and review the Transactions carefully.

4. As soon as practicable after you have notified us of a disputed Transaction in accordance with this Agreement, you must confirm the disputed Transaction in writing by email or by post, setting out full details of the Transaction and your reason for disputing it. You must provide us with all receipts and information that are relevant to the claim.

5. Where we are liable for an incorrectly executed Transaction, we will without undue delay refund the amount of the Transaction to the Account, restore the Account to the state it would have been had the defective Transaction not taken place and refund any charges and interest that have arisen as a consequence of the non-execution or defective execution of the Transaction provided you notify us of the Transaction in accordance with this clause 18.

6. If we make a refund following a claim and subsequently establish that the conditions for the refund have not been met, we may deduct it from the Available Balance after notifying you. If there is no sufficient Available Balance, the Business must repay us the amount immediately on demand.

7. If you are not satisfied with the justification provided for refusing the refund or with the outcome of the refund claim, you may submit a complaint as described in clause 25.

XIX. Changes to this Agreement

1. We may change the Agreement by notifying you by e-mail or other agreed means 2 weeks before the change is due to take effect. You will be deemed to have accepted the notified change unless you tell us that you do not agree to the change prior to the change being effective. In this case, the Agreement will terminate upon expiry of the notice. You also have a right to terminate the Agreement immediately and without charge at any point during the notice. In such circumstances we will refund the Available Balance on the Account in accordance with clause 13 and you will not be charged a Fee for closing the Account.

2. We may make immediate changes to the exchange rate used to convert money from one currency to another as part of a Transaction.

XX. Fees and limits

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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 Fees Schedule. The Fees Schedule is subject to changes. The most recent update of schedule will be available on the Card Distributor’s Website or Card Distributor’s App.

2. We may charge you an administration charge as set out in the Fee Schedule in the following circumstances:

2.1. in the event that you make any payment to us that is subsequently reversed after sixty (60) days due to inadequate account information or inadequate KYC documentation, and

2.2. to cover our reasonable costs and expenses in providing you with manual support on the Account not otherwise required under the Agreement (e.g. a request for legal, police, court or other judicial support).

3. We may charge you a Fee for chargebacks as set out in the Fees Schedule where a receiving bank declines receipt of a payment following a request to transfer the funds from the Card.

4. We have the right to review and change the amount of Available Balance you are able to have in the Account and the spending limits on the Card at any time and will notify you accordingly.

XXI. Cardholder and Business details

1. You must let us know as soon as possible if you change your name, address, phone number or e-mail address. If we contact you in relation to the Card or the Account, for example, to notify you that we have cancelled the Card, we will use the most recent contact details you have provided to us. We will not be liable to you if your contact details have changed and you have not informed us.

XXII. Data protection

1. You agree that we can use your personal information in accordance with our privacy policy which is set out at https://paywiser.com/privacy-policy/. The Card Distributor may also use your personal information in accordance with its privacy policy which is set out on the www.paywiser.com and our App. Please note that we and the Card Issuer are each independent data controllers. Each privacy policy includes details of the personal information collected, how it will be used, and who it is passed onto. You can tell us if you do not want to receive any marketing materials from us.

2. To comply with applicable KYC-and anti-money laundering rules and regulations our bank, the Issuer, the Card Distributor and the relevant programme manager and/or any other business partner (all together a “Partner”) who will introduce the Cardholder to the parties involved, shall be entitled to carry out all necessary verifications regarding the Cardholders identity. The abovementioned parties may use a recognised agency for this verification purposes (details of the agency used will be provided to you on request). In this respect, the Cardholder’s personal data will be transferred to the Card Distributor and the Issuer and will processed also outside the United Kingdom.

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XXIII. Payment disputes with Merchants

1. In relation to any dispute between you 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 Fee as referenced in the Fees Schedule for any such assistance we may give you with any such dispute. If there is an irresolvable 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.

XXIV. Communication

1. Unless required otherwise by other provisions of this Agreement, if you have an enquiry relating to the Card, you can call us using the contact details set out in this contract.

2. This Agreement is concluded in English. All communications with you will be in English.

3. We may contact you by e-mail, text message or post unless provided otherwise under the Agreement. You must maintain a valid e-mail address, a valid mobile telephone number and a valid address registered with us and must notify us of any changes in your registered details without delay. You agree to check for incoming messages regularly.

4. Any e-mail will be deemed received as soon as it is sent unless within 24 hours the sender receives a failure notice indicating that the email has not been transmitted. Any e- mail will be deemed received by the recipient on the day it is received in his e-mail inbox if received before 4.30 pm on a Business Day. If received at any other time, it will be deemed received on the next Business Day.

5. Any communication or notice sent by post will be deemed received three (3) days from the date of posting for UK post or within five (5) days of posting for international post. Any communication or notice sent by text message will be deemed received the same day.

XXV. Complaints

1. If you are not satisfied with the Card or the way it is managed, tell us by contacting us using the contact details set out in clause 2 so that we can investigate the circumstances for you. You may also request to be provided with a copy of our complaints procedure at any time. Any complaints you have will be dealt with quickly and fairly and you agree to cooperate with us and provide the necessary information for us to investigate and resolve the complaint.

2. We will endeavour to handle your complaint fairly and quickly, however, if you are not satisfied with the outcome, you may contact the Financial Ombudsman Service at Exchange Tower, London E14 9SR; telephone: 0800 023 4567 or 0300 123 9 123; website: http://www.financial-ombudsman.org.uk; and e-mail: complaint.info@financial- ombudsman.org.uk.

3. The European Commission’s online dispute resolution (“ODR”) platform is at: https://ec.europa.eu/consumers/odr/main/?event=main.adr.show. The ODR platform can be used to resolve disputes between the Issuer and consumers.

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XXVI. Assignment

1. We may assign this Agreement to another company at any time. If we assign the Agreement to another company you will be given prior notice of this. Unless you tell us within 2 weeks that you do not want to continue with the Agreement after the assignment, you agree that we can assign the Agreement in this way. Your rights will not be affected by such assignment should it happen. You may not assign the Agreement to a third party. Your right to terminate the Agreement under clause 13 is not affected.

XXVII. Governing law

1. This Agreement will be governed by English law and the English courts will have exclusive jurisdiction regarding any legal proceedings between us.

XXVIII. Protection of funds

1. We ensure that once we have received the funds they are deposited in a secure account, specifically for the purpose of redeeming Transactions made by the Card. In the event that we become insolvent, funds against which the Issuer has already issued electronic money are protected against the claims made by creditors.

XXIX. Business opt-out

1. Pursuant to regulations 40(7) and 63(5) of the Payment Services Regulations 2017 (“PSR”) the parties agree that: (i) Part 6 PSR does not apply to the Agreement; (ii) the obligations set out in regulations 66(1), 67(3), 67(4), 75, 77, 79, 80, 83, 91, 92 and 94 of Part 7 PSR do not apply to the provision of services under this Agreement; and (iii) that a different time period applies for regulation 74(1) of Part 7 PSR.

XXX. The Issuer of the Card

1. The Card is issued by Payrnet Limited. whose company number is 09883437 and whose registered office is Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX. Payrnet Limited is an electronic money institution authorised and regulated by the Financial Conduct Authority with register number 900594.

2. Payrnet Limited. can be contacted by email – support@payr.net. Payrnet Limited’s web address is https://www.railsbank.com/payrnet. (This is the web address of PayrNet’s parent company, Railsbank Technology Limited, and Payrnet is a wholly owned subsidiary of Railsbank and provides regulated financial services to Railsbank customers.)

XXXI. Third Party Payment Service Providers

1. This section 31 applies when you use the services of an AISP (or PISP). We may deny an AISP (or PISP) access to the online account connected to the Card for reasonably, justified and duly evidenced reasons relating to unauthorised or fraudulent access to the online account by that AISP (or PISP, including the unauthorised or fraudulent initiation of a transaction.) If we do deny access in this way, we will notify you of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP (or PISP) access to the online account once the reasons for denying access no longer apply.

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info@paywiser.com

36-38 Westbourne Grove Newton Road W2 5SH 5BY London
England
United Kingdom

  • TERMS & CONDITIONS
  • PRIVACY POLICY
  • CONTACT USCopyright 2020 Billion Key Limited (trading as Paywiser)

TERMS AND CONDITIONS FOR CORPORATES

ELECTRONIC MONEY ACCOUNTS

[reference to customer is to the EMD Agent]

BACKGROUND

This Agreement: This Agreement is with PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square,

138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”, “we” “us”). We are an Electronic Money Institution (“EMI”) and are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011  (“EMR 2011”) (register reference 900594) for the issuing of electronic money.

Our relationship with [name of Customer]: As an EMI, we have appointed [name of customer] as an EMD Agent. An EMD Agent means a person who provides payment services on behalf of an electronic money institution (as defined in the EMR 2011). As our EMD Agent, [name of customer] is authorised to provide associated payment services alongside our e-money account services.

AGREED TERMS

1. OUR TERMS

1.1. Interpreting this Agreement. In order to easily understand the terms of this Agreement, please first refer to clause 3 which, amongst other things, sets out the meaning of capitalised terms used in this Agreement.  

1.2. Why you should read it? Please read this Agreement carefully before you agree to it, as its terms apply to the services provided by us. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only complete thesign-on procedures and agree to the terms of this Agreement if you agree to be bound by this Agreement.

1.4 Are you a Micro-Enterprise or Charity or Consumer? For the avoidance of doubt, these terms and conditions are not intended for Micro Enterprises or Charities or Consumers (individuals acting for a purpose other than a trade, business or profession).

2. INFORMATION ABOUT US AND HOW TO CONTACT US

2.1. Who we are. We are PayrNet Limited, an EMI as described above.

2.2. Communications between us are to be in English. This Agreement is concluded in England and all communications between you and us shall be in English only.  

2.3. How to contact us. All queries should be directed towards the [customer]. You can contact the [customer] using details set out in [ refer to part of customer agreement where contact details are set out ].  

2.4. How we may contact you. If we have to contact you we will do so as follows: in the first instance via the [customer] except in urgent cases. If we have not been able to contact you through the [customer] or if the matter is urgent we will contact you by writing to you at the email address(es), you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us or with the [customer].

2.5. Writing’ includes emails. When we use the words “writing” or “written” in this Agreement, this includes emails.  

2.6. Some of the services we provide are subject to the Payment Services Regulations 2017. The Regulations regulate how Payments must be transmitted and provide protection for the clients of authorised payment institutions and electronic money institutions.

3. INTERPRETATION

3.1. The definitions set out in this clause apply in this Agreement as follows:  

Agreement” means this agreement and the privacy policy.

Electronic Money” means electronically stored monetary value as represented by a claim against us.

Regulations” means the Payment Services Regulations 2017 (SI 2017 No. 752).  

Safeguarded Account” means the bank account(s) belonging to us, which are separate to our own office bank accounts, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.  

Services” means the e-money account services.  

3.2. Clause headings shall not affect the interpretation of this Agreement and references to clauses are to the clauses of this Agreement.  

3.3. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.  

3.4. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.  

3.5. A reference to a statute or statutory provision is a reference to it as amended, extendedor re-enacted from time to time and reference to a statute or statutory provision shall include all subordinate legislation made from time to time.  

4. TERM AND BECOMING A CLIENT  

4.1. How can you agree to this Agreement? You can agree to this Agreement by checking the box online confirming that you agree to same, or by otherwise confirming your agreement to same or availing of the Services.  

4.2. When will you become a client of ours? You will be bound by this Agreement once you have agreed to it as set out above and this Agreement shall remain in force until terminated in accordance with its terms.  

5. SERVICES

5.1. As part of the Services, we shall issue you with Electronic Money upon receipt of money from you or a third party on your behalf, store your Electronic Money and redeem Electronic Money both on your express instruction and in accordance with this Agreement and the agreement of the [customer].  

5.2. Our Services do not include the provision of advice. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation, or markets.  

6. ISSUING ELECTRONIC MONEY TO YOU  

6.1. For the avoidance of doubt, this section is only applicable for unregulated entities and Small Payment Institutions (SPI).

6.2. Where we receive money from you or on your behalf, this money will be held by us in the relevant Safeguarded Account in exchange for the issuance by us to you of Electronic Money. Your funds will not be used by us for any other purpose and in the unlikely event that we become insolvent, your e-money is protected in an EEA-authorised credit institution or the Bank of England.

6.3. When we issue you with Electronic Money, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding your money in that (i) we cannot and will not use the funds to invest or lend to other persons or entities; (ii) the Electronic Money will not accrue interest; and (iii) the Electronic Money is not a deposit and is therefore not covered by the Financial Services Compensation Scheme but it is held by us and protected in the relevant Safeguarded Account.  

6.4. You may hold Electronic Money and we may hold funds corresponding to your Electronic Money indefinitely. However, if we hold Electronic Money for you for more than two years without any activity on the account, we shall use reasonable endeavoursto contact you to redeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.  

6.5. We accept no responsibility in the event that you send money to the incorrect account.  

6.6. We do not accept cash or cheques. We accept monies via a variety of methods of electronic funds transfer to our bank account, the details of which we shall provide to you upon request.  

7. GENERAL LIMITATION OF LIABILITY  

7.1. Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.

7.2. Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.

7.3. Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.

8. COMPLAINTS

8.1. If you feel that we have not met your expectations in the delivery of our Services, in first instance contact the [customer] using the contact email address for complaints set out in [  ]. If the [customer] does not deal with your complaint adequately, please contact us via email to complaints@payr.net.

8.2. We have internal procedures for handling complaints fairly and promptly in accordance with the Financial Conduct Authority’s requirements. A copy of our complaintsprocedure is available upon request.

8.3. If you are an eligible complainant you may be able to take your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and information on the procedures involved are available from http://www.financial-ombudsman.org.uk. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.

9. ESTABLISHING YOUR IDENTITY

9.1. To comply with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and EU Wire Transfer Regulations (Regulation (EU) 2015/847) and related regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity (or directors or partners of your business and/or your ultimate beneficial owners) in our records from time to time. If satisfactory evidence is not promptly provided to us we cannot accept your instructions.  

9.2. We may keep records of the contents and results of any searches that we carry out on you (or directors or partners or shareholders of your business) in accordance with all current and applicable laws. You acknowledge that us carrying out an electronicverification check or, if required, a credit reference agency check will leave a soft footprint on the individual or entity’s credit history. You warrant that you have obtained the consent to such checks being carried out from each such individual officer and shareholder.

9.3. We are obliged to report any reasonable suspicions about activities on the electronic accounts to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.

10. TERMINATION

10.1.When we may terminate or suspend this Agreement.

 

10.1.1. We can terminate this Agreement at any time:

10.1.1.1.If you breach this Agreement; and/or

10.1.1.2. if we suspect that you are using the Services for any illegal purposes.

10.1.2. We may suspend or terminate your access to the Services where we have reasonable grounds for concern relating to: (i) the security of your account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).

10.1.3. If the [customer] notifies us that their agreement with you has terminated we can terminate this agreement with immediate effect.

10.1.4. If you terminate your agreement with the [customer] or that agreement is terminated, we can terminate this agreement with immediate effect.

10.2. When you may terminate this Agreement. You can terminate this Agreement at any time and for any reason by cancelling your agreement with the [customer]. We may contact you to confirm your request.

10.3.Effect of Termination. Upon the effective date of termination:

10.3.1. you will no longer be able to avail yourself of the Services;

10.3.2. we shall redeem any Electronic Money we hold for you and send the equivalent funds to a bank account in your name, unless agreed by both parties, less any monies which are due and owing to us, where relevant.

10.4. After termination, you may contact us using the contact details set out in clause 2.3 to redeem any Electronic Money you still hold with us.

11. CONFIDENTIALITY  

11.1. We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:

11.1.1. to our employees, officers, representatives or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives or advisers to whom we disclose your confidential information comply with this clause; and

11.1.2. as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.

12. HOW WE MAY USE YOUR PERSONAL INFORMATION AND DATA PROTECTION

12.1. How we may use your personal information. We will only use your personal information as set out in our privacy policy which can be foundhttps://railsbank.com/payrnet.

13. Anti-bribery and Corruption

13.1.Each party shall:

13.1.1. Comply with all applicable laws, statutes, regulations, codes and guidance relating to anti-bribery and anti-corruption (“AntiBribery Laws”), including without limitation the Bribery Act 2010;

13.1.2. maintain throughout the term of this Agreement its own anti-bribery policies and procedures (including adequate procedures under the Bribery Act 2010) to ensure compliance with the Anti-Bribery Laws; and

13.1.3. enforce such policies and procedures where appropriate.

13.2. For the purpose of this clause, the meaning of adequate procedures shall be determined in accordance with section 7(2) and any guidance issued under section 9, Bribery Act 2010.

13.3.Each party warrants that neither it nor any of its officers, employees:

13.3.1. has been convicted of any offence involving bribery, corruption, fraud or dishonesty; nor

13.3.2. to the best of its knowledge, has been or is the subject of any investigation, inquiry or enforcement proceedings by any governmental, administrative or regulatory body regarding any offence or alleged offence under the Anti-Bribery Laws.

13.4.Breach of this clause shall be deemed to be a material breach of this Agreement.

14. GENERAL  

14.1. Recording of telephone conversations. We may record telephone conversations with or without use of a warning tone and we may use these recordings as evidence for a particular purpose or in relation to disputes as well as for our ongoing quality control and training programme. We may also maintain a record of all emails sent by or to us. All those recordings and records will be maintained at our absolute discretion and are our property and can be used by us in the case of a dispute. We do not guarantee that we will maintain such recordings or records or be able to make them available to you. You consent to the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.

14.2. Ensuring this Agreement is legally enforceable. For a contract to be legally enforceable, there needs to be an offer, acceptance and consideration. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer. In order to ensure that this Agreement is legally binding, upon you becoming a client, you promise to pay us the sum of one-Pound sterling, upon demand from us, as consideration.

14.3. Even if we delay in enforcing under this Agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.

14.4. What if something unexpected happens? We shall have no liability to you under this Agreement if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lock-outs or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of sub-contractors, provided that you are notified of such an event and its expected duration.

14.5. If a court finds part of this Agreement illegal, the rest will continue in force. Each of the sub-clauses and clauses of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining sub-clauses and clauses will remain in full force and effect.

14.6. We are not partners and neither of us may act as the others agent. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).

14.7. We can make amendments to this Agreement. We shall have the right to make such amendments to this Agreement, via the [Customer], as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement. Such amendments may be made at any time upon as much notice as possible to you and shall take effect following such notice, if any. If you object to the proposed amendments, you have the right to terminate this Agreement without charge before the date proposed by us for the entry into force of the changes. You will be deemed to have accepted the proposed amendments unless you notify us and terminate this Agreement before the date proposed by us for the entry into force of the changes. If no objection is received from you, such amendments shall take effect from the date specified by us but may not affect any rights or obligations that have already arisen and will not be retrospective.

14.8. What happens if you are jointly a client of ours with another person? Where you comprise two or more people, each person will be jointly and severally liable to us in respect of all obligations contained in this Agreement.

14.9. Can you obtain a copy of this Agreement or additional information? You may request and we shall provide a copy of this Agreement and any information set out in Schedule 4 of the Regulations (if relevant) at any time prior to termination of this Agreement.

14.10. We may transfer this Agreement to someone else. We may transfer our rights and obligations under this Agreement to another organisation without your consent. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.

14.11. You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.

14.12. Nobody else has any rights under this Agreement. This agreement is between you and us. No other person shall have any rights to enforce any of its terms.

14.13. Which laws apply to this Agreement and where you may bring legal proceedings. This Agreement and any disputes or claims arising out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims) are governed by, and construed in accordance with, the laws of England. You irrevocably agree that the courts of England have exclusive jurisdiction to settle any dispute or claim or other matter that arises out of or in connection with this Agreement or its subject matter or formation (including noncontractual disputes or claims).

PAYRNET LIMITED

TERMS AND CONDITIONS FOR CONSUMERS

ELECTRONIC MONEY ACCOUNTS

BACKGROUND

 

This Agreement: This Agreement is with PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”, “we” “us”). Weare an Electronic Money Institution (“EMI”) and are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (“EMR 2011”) (register reference 900594) for the issuing of electronic money.

Our relationship with Paywiser: As an EMI, we have appointed Paywiser Limited as a distributor of certain of our services. A distributor means a person who distributes or redeems electronic money on behalf of an electronic money institution but who does not provide payment services on behalf of the electronic money institution (as distributor is defined in the EMR 2011).

AGREED TERMS

1. OUR TERMS
1.1. Interpreting this Agreement. In order to easily understand the terms of this Agreement, please first refer to clause 3 which, amongst other things, sets out the meaning of capitalised terms used in this Agreement.
1.2. Why you should read it? Please read this Agreement carefully before you agree to it, as its terms apply to the services provided by us. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only complete the signon procedures and agree to the terms of this Agreement if you agree to be bound by this Agreement.
2. INFORMATION ABOUT US AND HOW TO CONTACT US
2.1. Who we are. We are PayrNet Limited, an EMI as described above.
2.2. Communications between us are to be in English. This Agreement is concluded in England and all communications between you and us shall be in English only.
2.3. How to contact us. All queries should be directed towards Paywiser Limited. You can contact Paywiser Limited at support@paywiser.com.
2.4. How we may contact you. If we have to contact you we will do so as follows: in the first instance via Paywiser Limited except in urgent cases. If we have not been able to contact you through Paywiser Limited or if the matter is urgent, we will contact you by writing to you at the email address(es), you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us or the Paywiser Limited.
2.5. Writing’ includes emails. When we use the words “writing” or “written” in this Agreement, this includes emails.
2.6. Some of the services we provide are subject to the Payment Services Regulations 2017. The Regulations regulate how payments must be transmitted and provide protection for the clients of authorised payment institutions and electronic money institutions.
3. INTERPRETATION
3.1. The definitions set out in this clause apply in this Agreement as follows:

Agreement” means this agreement and the privacy policy.

Consumer“ means an individual who, in entering into this Agreement, is acting for a purpose other than a trade, business or profession.

Electronic Money” means electronically stored monetary value as represented by a claim against us.  

Regulations” means the Payment Services Regulations 2017 (SI 2017 No. 752).

Safeguarded Account” means the bank account(s) belonging to us, which are separate to our own office bank accounts, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.

Services” means the e-money account services.

3.2. Clause headings shall not affect the interpretation of this Agreement and references to clauses are to the clauses of this Agreement.
3.3. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
3.4. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
3.5. A reference to a statute or statutory provision is a reference to it as amended, extended or reenacted from time to time and reference to a statute or statutory provision shall include all subordinate legislation made from time to time.
4. TERM AND BECOMING A CLIENT
4.1. How can you agree to this Agreement? You can agree to this Agreement by checking the box online on http://banking.paywiser.com/ or in Paywiser app, confirming that you agree to the terms of this Agreement during the registration process or by otherwise confirming thisAgreement.
4.2. When will you become a client of ours? You will be bound by this Agreement once you have agreed to it as set out above and this Agreement shall remain in force until terminated in accordance with its terms.
5. SERVICES
5.1. As part of the Services, we shall issue you with Electronic Money upon receipt of money from you or a third party on your behalf, store your Electronic Money and redeem Electronic Money both on your express instruction and in accordance with this Agreement and the agreement of the [Customer].
5.2. Our Services do not include the provision of advice. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation, or markets.
6. ISSUING ELECTRONIC MONEY TO YOU
6.1. Where we receive money from you or on your behalf, this money will be held by us in the relevant Safeguarded Account in exchange for the issuance by us to you of Electronic Money.Your funds will not be used by us for any other purpose and in the unlikely event that we become insolvent, your e-money is protected in an EEA-authorised credit institution or the Bank of England.
6.2. When we issue you with Electronic Money, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding your money in that (i) we cannot and will not use the funds to invest or lend to other persons or entities; (ii) the Electronic Money will not accrue interest and (iii) the Electronic Money is not a deposit and is therefore not covered by the Financial Services Compensation Scheme but it is held by us and protected in the relevant Safeguarded Account.
6.3. You may hold Electronic Money and we may hold funds corresponding to your Electronic Money indefinitely. However, if we hold Electronic Money for you for more than two yearswithout any activity on the account, we shall use reasonable endeavours to contact you toredeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.
6.4. We accept no responsibility in the event that you send money to the incorrect account.
6.5. We do not accept cash or cheques. We accept monies via a variety of methods of electronic funds transfer to our bank account, the details of which we shall provide to you upon request.
7. GENERAL LIMITATION OF LIABILITY
7.1. Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.
7.2. Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.
7.3. Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.
8. COMPLAINTS
8.1. If you feel that we have not met your expectations in the delivery of our Services, in the first instance contact Paywiser Limited using the contact email address for complaints set out in this Agreement. If Paywiser Limited does not deal with your complaint adequately, please contact us via email to complaints@payr.net.
8.2. We have internal procedures for handling complaints fairly and promptly in accordance with the Financial Conduct Authority’s requirements. A copy of our complaints procedure is available upon request.
8.3. If you are an eligible complainant you may be able to take your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and information on the procedures involved are available fromhttp://www.financialombudsman.org.uk. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.
9. ESTABLISHING YOUR IDENTITY
9.1. To comply with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and EU Wire Transfer Regulations (Regulation (EU) 2015/847) and related regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity in our records from time to time. If satisfactory evidence is not promptly provided to us we cannot accept your instructions.
9.2. We may keep records of the contents and results of any searches that we carry out on you in accordance with all current and applicable laws. You acknowledge that us carrying out an electronic verification check or, if required, a credit reference agency check will leave a soft footprint on your credit history.
9.3. We are obliged to report any reasonable suspicions about activities on the electronic accounts to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.
10. TERMINATION
10.1. When we may terminate or suspend this Agreement.
10.1.1. We can terminate this Agreement at any time:
10.1.1.1. If you breach this Agreement; and/or
10.1.1.2. if we suspect that you are using the Services for any illegal purposes.
10.1.2. We may suspend or terminate your access to the Services where we have reasonable grounds for concern relating to: (i) the security of your account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).
10.1.3. If Paywiser Limited notifies us that its agreement with you has terminated we can terminate this agreement with immediate effect.
10.1.4. If you terminate your agreement with Paywiser Limited, or that agreement is terminated, we can terminate this Agreement with immediate effect.
10.1.5. If our agreement with Paywiser Limited terminates, we will give you not less than two (2) month’s written notice to terminate this Agreement.
10.1.6. We may terminate this Agreement at any time and for any reason by giving you not less than two (2) month’s written notice.
10.2. When you may terminate this Agreement. You can terminate this Agreement at any time and for any reason by cancelling your agreement with Paywiser Limited. We may contact you to confirm your request.
10.3. Effect of Termination. Upon the effective date of termination:
10.3.1. you will no longer be able to avail yourself of the Services;
10.3.2. we shall redeem any Electronic Money we hold for you and send the equivalent funds to a bank account in your name, unless agreed by both parties, less any monies which are due and owing to us.
10.4. After termination, you may contact us using the contact details set out in clause 2.3 to redeem any Electronic Money you still hold with us.
11. CONFIDENTIALITY
11.1. We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:
11.1.1. to our employees, officers, representatives or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives or advisers to whom we disclose your confidential information comply with this clause; and
11.1.2. as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
12. HOW WE MAY USE YOUR PERSONAL INFORMATION
12.1. How we may use your personal information. We will only use your personal information as set out in our privacy policy which can be found https://railsbank.com/payrnet. (Payrnet is a wholly owned subsidiary of Railsbank Technology Limited).
13. GENERAL
13.1. Recording of telephone conversations. We may record telephone conversations with or without use of a warning tone and we may use these recordings as evidence for a particular purpose or in relation to disputes as well as for our ongoing quality control and training programme. We may also maintain a record of all emails sent by or to us. All those recordings and records will be maintained at our absolute discretion and are our property and can be used by us in the case of a dispute. We do not guarantee that we will maintain such recordings or records or be able to make them available to you. You consent to the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.
13.2. Ensuring this Agreement is legally enforceable. For a contract to be legally enforceable, there needs to be an offer, acceptance and consideration. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer. In order to ensure that this Agreement is legally binding, upon you becoming a client, you promise to pay us the sum of onePound sterling, upon demand from us, as consideration.
13.3. Even if we delay in enforcing under this Agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
13.4. What if something unexpected happens? We shall have no liability to you under this Agreement or any Contract if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lockouts or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of subcontractors, provided that you are notified of such an event and its expected duration.
13.5. If a court finds part of this Agreement illegal, the rest will continue in force. Each of the subclauses, clauses and paragraphs of this Agreement operates separately. If any court orrelevant authority decides that any of them are unlawful, the remaining subclauses, clauses and paragraphs will remain in full force and effect.
13.6. We are not partners and neither of us may act as the others agent. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
13.7. We can make amendments to this Agreement. We shall have the right to make such amendments to this Agreement, via Paywiser Limited, as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement. Such amendments may be made at any time upon as much notice as possible to you and shall take effect following such notice, if any. If you object to the proposed amendments, you have the right to terminate this Agreement without charge before the date proposed by us for the entry into force of the changes. You will be deemed to have accepted the proposed amendments unless you notify us and terminate this Agreement before the date proposed by us for the entry into force of the changes. If we receive no objection from you, such amendments shall take effect from the date specified by us but may not affect any rights or obligations that have already arisen and will not be retrospective.
13.8. What happens if you are jointly a client of ours with another person? Where you comprise two or more people, each person will be jointly and severally liable to us in respect of all obligations contained in this Agreement.
13.9. Can you obtain a copy of this Agreement or additional information? You may request and we shall provide a copy of this Agreement and any information set out in Schedule 4 of the Regulations (if relevant) at any time prior to termination of this Agreement.
13.10. We may transfer this agreement to someone else. We may transfer our rights and obligations under this Agreement to another organisation without your consent. We will alwaystell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.
13.11. You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.
13.12. Nobody else has any rights under this Agreement. This contract is between you and us. No other person shall have any rights to enforce any of its terms.
13.13. Which laws apply to this Agreement and where you may bring legal proceedings. These terms are governed by English law and you can bring legal proceedings in respect of the products in the English courts. If you live in Scotland you can bring legal proceedings in respect of the Services in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of the Services in either the Northern Irish or the English courts.

PAYRNET LIMITED

TERMS AND CONDITIONS FOR CONSUMERS

ELECTRONIC MONEY ACCOUNTS

BACKGROUND

 

This Agreement: This Agreement is with PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”, “we” “us”). Weare an Electronic Money Institution (“EMI”) and are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (“EMR 2011”) (register reference 900594) for the issuing of electronic money.

Our relationship with Paywiser: As an EMI, we have appointed Paywiser Limited as a distributor of certain of our services. A distributor means a person who distributes or redeems electronic money on behalf of an electronic money institution but who does not provide payment services on behalf of the electronic money institution (as distributor is defined in the EMR 2011).

AGREED TERMS

1. OUR TERMS
1.1. Interpreting this Agreement. In order to easily understand the terms of this Agreement, please first refer to clause 3 which, amongst other things, sets out the meaning of capitalised terms used in this Agreement.
1.2. Why you should read it? Please read this Agreement carefully before you agree to it, as its terms apply to the services provided by us. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only complete the signon procedures and agree to the terms of this Agreement if you agree to be bound by this Agreement.
2. INFORMATION ABOUT US AND HOW TO CONTACT US
2.1. Who we are. We are PayrNet Limited, an EMI as described above.
2.2. Communications between us are to be in English. This Agreement is concluded in England and all communications between you and us shall be in English only.
2.3. How to contact us. All queries should be directed towards Paywiser Limited. You can contact Paywiser Limited using details set out in Electronic Money Accounts Terms and Conditions.
2.4. How we may contact you. If we have to contact you we will do so as follows: in the first instance via Paywiser Limited except in urgent cases. If we have not been able to contact you through Paywiser Limited or if the matter is urgent, we will contact you by writing to you at the email address(es), you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us or the Paywiser Limited.
2.5. Writing’ includes emails. When we use the words “writing” or “written” in this Agreement, this includes emails.
2.6. Some of the services we provide are subject to the Payment Services Regulations 2017. The Regulations regulate how payments must be transmitted and provide protection for the clients of authorised payment institutions and electronic money institutions.
3. INTERPRETATION
3.1. The definitions set out in this clause apply in this Agreement as follows:

Agreement” means this agreement and the privacy policy.

Consumer“ means an individual who, in entering into this Agreement, is acting for a purpose other than a trade, business or profession.

Electronic Money” means electronically stored monetary value as represented by a claim against us.  

Regulations” means the Payment Services Regulations 2017 (SI 2017 No. 752).

Safeguarded Account” means the bank account(s) belonging to us, which are separate to our own office bank accounts, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.

Services” means the e-money account services.

3.2. Clause headings shall not affect the interpretation of this Agreement and references to clauses are to the clauses of this Agreement.
3.3. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
3.4. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
3.5. A reference to a statute or statutory provision is a reference to it as amended, extended or reenacted from time to time and reference to a statute or statutory provision shall include all subordinate legislation made from time to time.
4. TERM AND BECOMING A CLIENT
4.1. How can you agree to this Agreement? You can agree to this Agreement by checking the box online confirming that you agree to same, during the registration process or by otherwise confirming your agreement to same or availing of the Services.
4.2. When will you become a client of ours? You will be bound by this Agreement once you have agreed to it as set out above and this Agreement shall remain in force until terminated in accordance with its terms.
5. SERVICES
5.1. As part of the Services, we shall issue you with Electronic Money upon receipt of money from you or a third party on your behalf, store your Electronic Money and redeem Electronic Money both on your express instruction and in accordance with this Agreement and the agreement of the [Customer].
5.2. Our Services do not include the provision of advice. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation, or markets.
6. ISSUING ELECTRONIC MONEY TO YOU
6.1. Where we receive money from you or on your behalf, this money will be held by us in the relevant Safeguarded Account in exchange for the issuance by us to you of Electronic Money.Your funds will not be used by us for any other purpose and in the unlikely event that we become insolvent, your e-money is protected in an EEA-authorised credit institution or the Bank of England.
6.2. When we issue you with Electronic Money, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding your money in that (i) we cannot and will not use the funds to invest or lend to other persons or entities; (ii) the Electronic Money will not accrue interest and (iii) the Electronic Money is not a deposit and is therefore not covered by the Financial Services Compensation Scheme but it is held by us and protected in the relevant Safeguarded Account.
6.3. You may hold Electronic Money and we may hold funds corresponding to your Electronic Money indefinitely. However, if we hold Electronic Money for you for more than two yearswithout any activity on the account, we shall use reasonable endeavours to contact you toredeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.
6.4. We accept no responsibility in the event that you send money to the incorrect account.
6.5. We do not accept cash or cheques. We accept monies via a variety of methods of electronic funds transfer to our bank account, the details of which we shall provide to you upon request.
7. GENERAL LIMITATION OF LIABILITY
7.1. Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.
7.2. Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.
7.3. Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.
8. COMPLAINTS
8.1. If you feel that we have not met your expectations in the delivery of our Services, in the first instance contact Paywiser Limited using the contact email address for complaints set out in Electronic Money Accounts Terms and Conditions. If Paywiser Limited does not deal with your complaint adequately, please contact us via email to complaints@payr.net.
8.2. We have internal procedures for handling complaints fairly and promptly in accordance with the Financial Conduct Authority’s requirements. A copy of our complaints procedure is available upon request.
8.3. If you are an eligible complainant you may be able to take your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and information on the procedures involved are available from http://www.financialombudsman.org.uk. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.
9. ESTABLISHING YOUR IDENTITY
9.1. To comply with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and EU Wire Transfer Regulations (Regulation (EU) 2015/847) and related regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity in our records from time to time. If satisfactory evidence is not promptly provided to us we cannot accept your instructions.
9.2. We may keep records of the contents and results of any searches that we carry out on you in accordance with all current and applicable laws. You acknowledge that us carrying out an electronic verification check or, if required, a credit reference agency check will leave a soft footprint on your credit history.
9.3. We are obliged to report any reasonable suspicions about activities on the electronic accounts to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.
10. TERMINATION
10.1. When we may terminate or suspend this Agreement.
10.1.1. We can terminate this Agreement at any time:
10.1.1.1. If you breach this Agreement; and/or
10.1.1.2. if we suspect that you are using the Services for any illegal purposes.
10.1.2. We may suspend or terminate your access to the Services where we have reasonable grounds for concern relating to: (i) the security of your account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).
10.1.3. If Paywiser Limited notifies us that its agreement with you has terminated we can terminate this agreement with immediate effect.
10.1.4. If you terminate your agreement with Paywiser Limited, or that agreement is terminated, we can terminate this Agreement with immediate effect.
10.1.5. If our agreement with Paywiser Limited terminates, we will give you not less than two (2) month’s written notice to terminate this Agreement.
10.1.6. We may terminate this Agreement at any time and for any reason by giving you not less than two (2) month’s written notice.
10.2. When you may terminate this Agreement. You can terminate this Agreement at any time and for any reason by cancelling your agreement with Paywiser Limited. We may contact you to confirm your request.
10.3. Effect of Termination. Upon the effective date of termination:
10.3.1. you will no longer be able to avail yourself of the Services;
10.3.2. we shall redeem any Electronic Money we hold for you and send the equivalent funds to a bank account in your name, unless agreed by both parties, less any monies which are due and owing to us.
10.4. After termination, you may contact us using the contact details set out in clause 2.3 to redeem any Electronic Money you still hold with us.
11. CONFIDENTIALITY
11.1. We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:
11.1.1. to our employees, officers, representatives or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives or advisers to whom we disclose your confidential information comply with this clause; and
11.1.2. as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
12. HOW WE MAY USE YOUR PERSONAL INFORMATION
12.1. How we may use your personal information. We will only use your personal information as set out in our privacy policy which can be found https://railsbank.com/payrnet. (Payrnet is a wholly owned subsidiary of Railsbank Technology Limited).
13. GENERAL
13.1. Recording of telephone conversations. We may record telephone conversations with or without use of a warning tone and we may use these recordings as evidence for a particular purpose or in relation to disputes as well as for our ongoing quality control and training programme. We may also maintain a record of all emails sent by or to us. All those recordings and records will be maintained at our absolute discretion and are our property and can be used by us in the case of a dispute. We do not guarantee that we will maintain such recordings or records or be able to make them available to you. You consent to the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.
13.2. Ensuring this Agreement is legally enforceable. For a contract to be legally enforceable, there needs to be an offer, acceptance and consideration. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer. In order to ensure that this Agreement is legally binding, upon you becoming a client, you promise to pay us the sum of onePound sterling, upon demand from us, as consideration.
13.3. Even if we delay in enforcing under this Agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
13.4. What if something unexpected happens? We shall have no liability to you under this Agreement or any Contract if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lockouts or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of subcontractors, provided that you are notified of such an event and its expected duration.
13.5. If a court finds part of this Agreement illegal, the rest will continue in force. Each of the subclauses, clauses and paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining subclauses, clauses and paragraphs will remain in full force and effect.
13.6. We are not partners and neither of us may act as the others agent. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
13.7. We can make amendments to this Agreement. We shall have the right to make such amendments to this Agreement, via Paywiser Limited, as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement. Such amendments may be made at any time upon as much notice as possible to you and shall take effect following such notice, if any. If you object to the proposed amendments, you have the right to terminate this Agreement without charge before the date proposed by us for the entry into force of the changes. You will be deemed to have accepted the proposed amendments unless you notify us and terminate this Agreement before the date proposed by us for the entry into force of the changes. If we receive no objection from you, such amendments shall take effect from the date specified by us but may not affect any rights or obligations that have already arisen and will not be retrospective.
13.8. What happens if you are jointly a client of ours with another person? Where you comprise two or more people, each person will be jointly and severally liable to us in respect of all obligations contained in this Agreement.
13.9. Can you obtain a copy of this Agreement or additional information? You may request and we shall provide a copy of this Agreement and any information set out in Schedule 4 of the Regulations (if relevant) at any time prior to termination of this Agreement.
13.10. We may transfer this agreement to someone else. We may transfer our rights and obligations under this Agreement to another organisation without your consent. We will alwaystell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.
13.11. You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.
13.12. Nobody else has any rights under this Agreement. This contract is between you and us. No other person shall have any rights to enforce any of its terms.
13.13. Which laws apply to this Agreement and where you may bring legal proceedings. These terms are governed by English law and you can bring legal proceedings in respect of the products in the English courts. If you live in Scotland you can bring legal proceedings in respect of the Services in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of the Services in either the Northern Irish or the English courts.
1. Consumer cardholder terms

 

1. These terms

 

1.1. What these terms cover. These are the terms and conditions (the “Terms”) which govern the use of the personal, non-transferable card scheme branded debit card (the “Card”) which you have been issued with or will be issued with.

 

1.2. Why you should read them. Please read these Terms carefully before you use your Card. These Terms tell you who we are, who we work with, how you can use your Card and the steps you need to take to protect yourself from unauthorised use of the Card and how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these Terms, please contact us to discuss.

 

2. Information about us and how to contact us

 

2.1. Who we are. We are Payrnet Limited, being the issuer of the Card (“we”, “us”, “our”) and a company incorporated in England & Wales with company number 09883437 and  having its registered address at Kemp House, 152 City Road, London, UK EC1V 2NX. We are the issuer of your Card.

 

2.2. We are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (registration number 900594) for the issuing of electronic money (“e-money”).

 

2.3. PayrNet is a wholly owned subsidiary of Railsbank Technology Limited and provides regulated financial services to Railsbank customers. Payrnet outsources all IT and Operations processes to Railsbank, and therefore falls under the Railsbank Privacy Policy for the purposes of clause 10 (Data Protection).

2.4. Who we work with when providing you with services relating to the Card. Although we are the sole issuer of the Card, we work with PayWiser Limited, 36-38 Westbourne Grove Newton Road, London, United Kingdom, W2 5SH (the “Distributor”). You can find out more information on the Distributor on the Distributor’s website (being www.paywiser.com (the “Distributor’s Website”).
2.5. The Distributor will be your first point of contact in relation to these Terms, for example if you:
2.5.1. wish to cancel the Card or complain about the service you have been provided with pursuant to these Terms;
2.5.2. let us know that the Card has been or potentially has been lost, stolen or misappropriated; and
2.5.3. report an unauthorised Transactions relating to your Card.

 

2.6. The services provided by the Distributor are governed by a separate set of terms and conditions which are set out in the following weblink https://banking.paywiser.com/CustomerCardTerms&Conditions.html .

 

2.7. We also provide you with the e-money account (the “Account”) where the funds, which can be spent using the Card, are held. Our company details are set out in section 2.1. The services provided by us for the Account are governed by a separate set of terms and conditions between you and us which are set out at https://banking.paywiser.com/CustomerBankingTerms&Conditions.html Please note that the funds in the Account will not earn any interest.

 

2.8. How to contact us. You can contact us, via the Distributor, by:
2.8.1. telephoning the Distributor at +44 2381680299; or
2.8.2. using any of the communication methods available:
(a) on the secure area of the Distributor’s Website;
(b) on the Distributor’s mobile application (hereinafter referred to as the “Distributor’s App”).
2.9. How we may contact you. If we have to contact you we will do so by telephone or by writing to you at the telephone number, email address or postal address you provided to us or the Distributor. Any changes to your telephone number, email address or postal address or other personal data we hold about you must be notified by you immediately and in writing in accordance with section 2.7.
3. Commencement and expiry of these Terms
3.1. You shall be deemed to accept these Terms by using the Card. The Card shall remain our property and will be delivered by us, or on our behalf, by the Distributor.
3.2. The Terms, excluding Section 7.3, will terminate on the expiry date printed on the Card (“Expiry Date”) unless the Card is auto-renewed, in which case you will be issued with a new Card before the existing one expires. In this instance these Terms will remain valid until the existing Card expires or is otherwise as set out in these Terms.

 

4. Issuance and activation of the Card

 

4.1. You may be issued with:
4.1.1. a “physical” Card, which will have the details of the PAN, the Expiry Date of the Card and the CVV code printed on it (the “Physical Card”); or
4.1.2. a “virtual” Card, in which case you will not receive a Physical Card but will receive details of the PAN, the Expiry Date and the CVV2 code (the “Virtual Card”).

 

4.2. In order to start using the Card, you may be required to activate it in accordance with instructions given to you by the Distributor. You must keep your Physical Card and the details of the Virtual Card (as applicable) in a safe place and protect it against unauthorised access or use by third parties.
4.3. If you are issued with a Physical Card:
4.3.1. you must sign the Physical Card as soon as you receive it;
4.3.2. you may also receive a secret personal identification number (“PIN”) separately by post or you may be able to retrieve it electronically via the Distributor’s Website or the Distributor’s App.
4.4. You should memorise your PIN when you receive it. If you need to keep the written version of the PIN or separately write the PIN down for future reference, you must never keep it with the Card. You must never disclose your PIN to any other person, not even us. If you have not protected your PIN and your Card is used without your knowledge using the correct PIN, this may be classed as negligence for the purposes of Section 8.
4.5. You can manage the Card on your secure area of the Distributor’s Website and on the Distributor’s App.
4.6. The Card shall remain valid until the Expiry Date. If you require a replacement Card, please contact the Distributor using the contact details set out in section 2.7. Please note that an additional fee may be charged for a replacement Card – please see the fees section for more information.

 

4.7. The Card is an e-money product and as such it is not covered by the Financial Services Compensation Scheme. You may only use the Card for lawful Transactions.
5. Transactions

 

5.1. Should the relevant card scheme and/or programme allow, you may use your Card to enter into the following transactions (hereinafter referred to as “Transactions”):
5.1.1. purchasing goods and/or services from merchants affiliated with the card scheme on your Card;
5.1.2. withdrawing cash from authorised banks worldwide;
5.1.3. receiving cash back from merchants (merchant dependent);
5.1.4. making cash withdrawals from automatic teller machines (“ATMs”).

 

5.2. You can authorise a Transaction by:
5.2.1. allowing a merchant to swipe the magnetic strip of the Card and the corresponding sales slip being signed; or
5.2.2. inserting the Card into a chip & PIN device and the correct PIN being entered;
5.2.3. providing relevant information to the merchant that allows the merchant to process the Transaction, for example, providing the merchant with the PAN, the Expiry Date and the CVV2 in the case of an internet or other non-face-to-face Transaction;
5.2.4. relevant information being provided to the payment initiation service provider that allows the payment initiation service provider to process the Transaction;
5.2.5. the Card is tapped against a “contactless” enabled reader and accepted by such reader.
5.3. If any of the methods of authorisation set out in section 5.2  are used, we shall be entitled to assume that you have authorised a Transaction unless we were informed that the relevant details of the Card have been lost, stolen or misappropriated prior the Transaction taking place.
5.4. You acknowledge the correctness of the amount of each Transaction which you authorise.

5.5. Once you have authorised a Transaction, the Transaction cannot be stopped or revoked. You may in certain circumstances be entitled to a refund in accordance with these Terms.
5.6. On receipt of notification of your authorisation of a Transaction and the Transaction payment order from the merchant and/or authorised bank, normally we will deduct the value of the Transaction, plus any applicable fees and charges, from the available funds in the Account. We will execute the Transaction by crediting the account of the merchant’s or ATM operator’s or bank’s (as applicable) payment service provider by the end of the next business day following the notification. If the notification is received on a non-business day or after 4:30 pm on a business day, it will be deemed received on the next business day.
5.7. We are not liable if, for any reason, the affiliated merchants or authorised banks do not accept the Card, or accept it only partly, nor are we liable in the case of late delivery of, or failure to deliver, goods or services. In the event of disputes or complaints of any kind concerning goods or services, or the exercise of any right in this connection, you should contact the affiliated merchant and/or authorised ban and/or ATM operator.
5.8. It is your responsibility to ensure that there are available funds in your Account to cover any spend, allowing for any foreign exchange fees and other applicable fees under these Terms. Should the Account at any time and for any reason have a negative balance, you shall repay the excess amount immediately and in full.
5.9. For Card usage conducted in other currencies (other than the currency of the Card), you shall accept the exchange rate used by Visa, which can be found https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html. Any changes in exchange rates may be applied immediately and without notice. The exchange rate, where applicable to a Transaction, will be shown in the e-statement. Please be careful when opting to use a merchant’s, bank’s or ATM operators exchange rates as they are often less competitive that the card scheme’s exchange rate.
5.10. The maximum amount you may withdraw in cash shall be subject to a daily limit, irrespective of the available funds in the Account. We may charge a fee for withdrawal of cash. Some ATMs may charge an additional fee, which is not included in the Table, however, will apply on top of the fees set out in the Table.

 

5.11. We and the Distributor have the right to review and change the spending limits on the Card at any time. You will be notified of any such changes via the Distributor’s Website and/or the Distributor’s App.

 

6. Non-execution of a Transaction
6.1. In certain circumstances we may refuse to execute a Transaction that you have authorised. These circumstances include:
6.1.1. if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner;
6.1.2. if there are insufficient funds available to cover the Transaction and all associated fees at the time that we receive notification of the Transaction or if there is an outstanding shortfall on the balance of the Account;
6.1.3. if we have reasonable grounds to believe you are acting in breach of these Terms;
6.1.4. if there are errors, failures (mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing Transactions, or
6.1.5. if we are required to do so by law.
6.2. Unless it would be unlawful for us to do so, where we refuse to complete a Transaction, we will notify you as soon as reasonably practicable that it has been refused and the reasons for the refusal, together, where relevant, with the procedure for correcting any factual errors that led to the refusal. Where the refusal is reasonably justified, we may charge you fee when we notify you that your payment request has been refused.
6.3. You may also claim a refund for a Transaction that you authorised provided that your authorisation did not specify the exact amount when you consented to the Transaction, and the amount of the Transaction exceeded the amount that you could reasonably have expected it to be taking into account your previous spending pattern on the Card, these Terms and the relevant circumstances.
6.4. Such a refund must be requested from us within 8 weeks of the amount being deducted from the Card. We may require you to provide us with evidence to substantiate your claim. Any refund or justification for refusing a refund will be provided within 10 business days of receiving your refund request or, where applicable, within 10 business days of receiving any further evidence requested by us. Any refund shall be equal to the amount of the Transaction. Any such refund will not be subject to any fee.
7. Access to information on Transactions and available funds in the Account
7.1. The Distributor has set up a secure area on the Distributor’s Website and on the Distributor’s App where you can view the available balance in your Account and view the details of any Transactions you have entered into. You can gain access to this by following the instructions on the Distributor’s Website or the Distributor’s App. You must keep the credentials to obtain access to the secure areas safe and not disclose them to anyone.
7.2. We can, upon request, send you monthly information (“e-statement”) by email setting out:
7.2.1. a reference enabling you to identify each Transaction;
7.2.2. the amount of each Transaction;
7.2.3. the currency in which the Card is debited;
7.2.4. the amount of any Transaction charges including their break down, where applicable;
7.2.5. the exchange rate used in the Transaction by us and the amount of the Transaction after the currency conversion, where applicable; and
7.2.6. the Transaction debit value date.

If you would like us to provide you with the e-statement more often than monthly or not by email (or if agreed differently under this section 7, more often than agreed or in a different manner than agreed) then we may charge you a reasonable administration fee to cover our costs of providing the information more often or in a different manner.

 

7.3. If for any reason you have some available funds left in your Account following the termination of these Terms, you may redeem them in full up to 6 years following the termination.
8. Loss of the Card / Transaction refunds

 

8.1. As soon as you become aware of any loss, theft, misappropriation or unauthorised use of the Card, PIN or other security details, you must immediately notify us using the contact details set out in section 2.7.

 

8.2. In the event of theft, you should consider reporting the theft to the police.
8.3. If we believe you did not authorise a particular Transaction or that a Transaction was incorrectly carried out, in order to get a refund you must contact us as soon as you notice the problem using the contact details set out in section 2.7, and in any case no later than 13 months after the amount of the Transaction has been deducted from your Account.
2.
8.4. We will refund any unauthorised Transaction and any associated Transaction fees and charges payable under these Terms subject to the rest of this section 8.

 

8.5. This refund shall be made as soon as practicable and in any event no later than the end of the business day following the day on which we become aware of the unauthorised Transaction, unless we have reasonable grounds to suspect fraudulent behaviour and notify the appropriate authorities. If we become aware of the unauthorised Transaction on a non-business day or after 4:30 pm on a business day, we will be deemed to have only become aware of the unauthorised Transaction at the beginning of the next business day.
8.6. If we are liable for an incorrectly executed Transaction, we will immediately refund you the amount of the incorrectly executed Transaction together with and any associated Transaction fees and charges payable under these Terms. Depending on the circumstances, we may require you to complete a dispute declaration form relating to the incorrectly executed Transaction. We may conduct an investigation either before or after any refund has been determined or made. We will let you know as soon as possible the outcome of any such investigation.
8.7. If a Transaction initiated by a merchant (for example, this happens when you use the Card in a shop) has been incorrectly executed and we receive proof from the merchant’s payment service provider that we are liable for the incorrectly executed Transaction, we will refund as appropriate and immediately the Transaction and any associated Transaction fees and charges payable under these Terms.
8.8. We are not liable for any incorrectly executed Transactions if we can show that the payment was actually received by the merchant’s payment service provider, in which case they will be liable.
8.9. If you receive a late payment from another payment service provider (e.g. a refund from a retailer’s bank) via us, we will credit the Account with the relevant amount of any associated fees and charges so that you will not be at a loss.
8.10. We will limit your liability to £35 for any losses incurred in respect of unauthorised Transactions subject to the following:
8.10.1. you will be liable for all losses incurred in respect of an unauthorised Transaction if you have acted fraudulently, or have intentionally or with gross negligence failed to: (a) look after and use the Card in accordance with these Terms; or (b) notify us of the problem in accordance with this section 8;
8.10.2. except where you have acted fraudulently, you will not be liable for any losses:
(a) incurred in respect of an unauthorised Transaction which arises after your notification to us of the loss, theft or misappropriation of the Card;
(b) arising where you have used the Card in a distance contract, for example, for an online purchase;
(c) arising where the loss, theft or misappropriation of the Card was not detectable by you before the unauthorised Transaction took place;
(d) where we have failed to provide you with the appropriate means of notification;
(e) arising where we are required by law (anticipated to apply from 14 September 2019) to apply Strong Customer Authentication (as defined in section 8.11) but fail to do so;
(f) the losses were caused by an act or omission of any employee, agent or branch of ours or any entity which carries out activities on our behalf.

 

8.11. “Strong Customer Authentication” means authentication based on the use of two or more elements that are independent, in that the breach of one element does not compromise the reliability of any other element, and designed in such a way as to protect the confidentiality of the authentication data, with the elements falling into two or more of the following categories: (a) something known only by you (“knowledge”), (b) something held only by you (“possession”); (c) something inherent to you (“inherence”). Strong Customer Authentication it is used to make Transactions more secure.
8.12. We are required to provide Strong Customer Authentication when:
8.12.1. you view the available balance on your Account either through the Distributor’s Website or the Distributor’s App and/or through an account information service provider (“AISP”);
8.12.2. when you initiate an electronic Transaction, directly [or when you initiate a remote electronic Transaction through a payment initiation service provider (“PISP”)]; or
8.12.3. when you carry out any action through a remote channel which may imply a risk of payment fraud or other abuses.
8.13. If our investigations show that any disputed Transaction was authorised by you or you may have acted fraudulently or with gross negligence, we may reverse any refund made and you will be liable for all losses we suffer in connection with the Transaction including but not limited to the cost of any investigation carried out by us in relation to the Transaction. We will give you reasonable notice of any reverse refund.
9. Blocking of the Card

 

We may block the Card, in which case you will not be able to execute any further Transactions, if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner. We will notify you of any such blocking in advance, or immediately after if this is not possible, and of the reasons for the suspension unless to do so would compromise reasonable security measures or otherwise be unlawful. We will unblock the Card and, where appropriate, issue a new Card, PIN and other security features free of charge as soon as practicable once the reasons for the suspension cease to exist.

10. Data Protection
10.1. You agree that we can use your personal data in accordance with these Terms and our privacy policy, which is set out on www.railsbank.com/payrnet. This privacy policy includes details of the personal information that we collect, how it will be used, and who we pass it to. You can tell us if you do not want to receive any marketing materials from us. For the avoidance of doubt, we will share your personal data with the Distributor.
10.2. To comply with applicable know-your-client-rules and anti-money laundering regulations (such as the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002, we and/or the Distributor and/or each of our banking providers and any other business partner (the “Partner”) shall be entitled to carry out all necessary verifications of your identity. The above mentioned Partner and the Distributor may use a recognised agency for this verification purposes (details of the agency used will be provided to you on request). Such verifications will not affect your credit score but may leave a ‘soft footprint’ on your credit history.
11. Fees and spending limits
11.1. You are liable for paying all fees arising from your use of the Card and subject to all spending limits placed on the Card by us.
11.2. The fees and spending limits on the Card are set out:
11.2.1. in the table set out in Annex A attached hereto;
11.2.2. on the secure area of the Distributor’s Website; and/or
11.2.3. on the Distributor’s App.
12. Complaints
12.1. If you would like to make a complaint relating to these Terms, please contact us using the contact details in section 2.7 so we can resolve the issue. We will promptly send you a complaint acknowledgement and a copy of our complaints procedure.
12.2. Please note that you may request a copy of our complaints procedure at any time. Details of our complaints procedure can also be found on our website. You agree to cooperate with us and provide the necessary information for us to investigate and resolve the complaint as quickly as possible.
12.3. We will endeavour to handle your complaint fairly and quickly, however, if you are not satisfied with the outcome, you may contact the Financial Ombudsman Service at Exchange Tower, London E14 9SR; telephone: 0800 023 4567 or 0300 123 9 123; website: http://www.financial-ombudsman.org.uk; and e-mail:     complaint.info@financial-ombudsman.org.uk
12.4. We are a “trader” and “online trader” for the purposes of the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015 (“ADR Law”). The Financial Ombudsman Service is the only “ADR entity” we are legally obliged and committed to use in order to resolve disputes with consumers for the purposes of the ADR Law. We do not agree to resolve disputes with consumers using any other ADR entity or similar entity.
12.5. The European Commission’s online dispute resolution (“ODR”) platform can be found at https://ec.europa.eu/consumers/odr/main/?event=main.adr.show. The ODR platform can be used to resolve disputes between us and consumers.
13. Third Party Payment Service Providers
13.1. This section 13 applies when you use the services of an AISP or a PISP.
13.2. We may deny an AISP or PISP access to the Account for reasonably justified and duly evidenced reasons relating to unauthorised or fraudulent access to the Account by that AISP or PISP, including the unauthorised or fraudulent initiation of a Transaction. If we do deny access in this way, we will notify you of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP or PISP access to the Account once the reasons for denying access no longer apply.
14. Cooling off period
14.1. If you purchased the Card online or by some other remote means, for example via telephone, you are entitled to a 14-day “cooling off” period from the date your received your original Card during which you may cancel the Card. Should you wish to cancel the Card and these Terms during the “cooling off” period, please return the Card to PayWiser Limited, 36-38 Westbourne Grove Newton Road, London, United Kingdom, W2 5SH and unused within 14 days of issue and a full refund of any fees paid to date will be made to you. If you have used the Card, you will not be entitled to a refund of any funds that have been spent, including any associated fees, but we will refund any unspent available funds free of charge.
15. Other important terms

 

15.1. The Terms and all communications will be in English. You may request a copy of these Terms free of charge at any time during the contractual relationship. If we need to contact you in the event of suspected or actual fraud or security threats, we will first send you an SMS or email prompting you to contact our customer services team using the contact information we have been supplied with.
15.2. We may transfer this agreement to someone else. We may transfer our rights and obligations under these Terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.

 

15.3. You need our consent to transfer your rights to someone else. You may only transfer your rights or your obligations under these Terms to another person if we agree to this in writing.

 

15.4. Nobody else has any rights under this contract. This contract is between you and us. No other person shall have any rights to enforce any of its terms.

 

15.5. Changes to these Terms / Termination. We reserve the right to amend these Terms for any reason by giving you two-months’ notice by e-mail. You will be deemed to have accepted the changes if you raise no objection prior to the expiry of the period set out in the notice. If you do not wish to accept the changes, you may terminate these Terms immediately and without charge by proving us with notice at any time prior to the expiry of the notice period. At all other times you may terminate these Terms at any time by giving us one months’ notice in accordance with section 2.7 and we may terminate these Terms by giving you two months’ notice in accordance with section 2.8.

 

15.6. If a court finds part of this contract illegal, the rest will continue in force. Each of the sections and sub-sections of these Terms operate separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

 

15.7. Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these Terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you do not pay us on time and we do not chase you but we continue to provide the services, we can still require you to make the payment at a later date.

 

15.8. Which laws apply to this contract and where you may bring legal proceedings. These Terms are governed by English law and you can bring legal proceedings in respect of these Terms in the English courts. If you live in Scotland you can bring legal proceedings in respect of the these Terms in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of these Terms in either the Northern Irish or the English courts.

 

 

Annex A – Fees Table

Please contact Paywiser for pricing quotation.

 

1. Consumer cardholder terms

 

1. These terms

 

1.1. What these terms cover. These are the terms and conditions (the “Terms”) which govern the use of the personal, non-transferable card scheme branded debit card (the “Card”) which you have been issued with or will be issued with.

 

1.2. Why you should read them. Please read these Terms carefully before you use your Card. These Terms tell you who we are, who we work with, how you can use your Card and the steps you need to take to protect yourself from unauthorised use of the Card and how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these Terms, please contact us to discuss.

 

2. Information about us and how to contact us

 

2.1. Who we are. We are Payrnet Limited, being the issuer of the Card (“we”, “us”, “our”) and a company incorporated in England & Wales with company number 09883437 and  having its registered address at Kemp House, 152 City Road, London, UK EC1V 2NX. We are the issuer of your Card.

 

2.2. We are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (registration number 900594) for the issuing of electronic money (“e-money”).

 

2.3. PayrNet is a wholly owned subsidiary of Railsbank Technology Limited and provides regulated financial services to Railsbank customers. Payrnet outsources all IT and Operations processes to Railsbank, and therefore falls under the Railsbank Privacy Policy for the purposes of clause 10 (Data Protection).

2.4. Who we work with when providing you with services relating to the Card. Although we are the sole issuer of the Card, we work with [customer name and address] (the “Distributor”). You can find out more information on the Distributor on the Distributor’s website (being [customer website] (the “Distributor’s Website”).
2.5. The Distributor will be your first point of contact in relation to these Terms, for example if you:
2.5.1. wish to cancel the Card or complain about the service you have been provided with pursuant to these Terms;
2.5.2. let us know that the Card has been or potentially has been lost, stolen or misappropriated; and
2.5.3. report an unauthorised Transactions relating to your Card.

 

2.6. The services provided by the Distributor are governed by a separate set of terms and conditions which are set out in the following weblink [customer terms and conditions link].

 

2.7. We also provide you with the e-money account (the “Account”) where the funds, which can be spent using the Card, are held. Our company details are set out in section 2.1. The services provided by us for the Account are governed by a separate set of terms and conditions between you and us which are set out at [customer to insert link to Payrnet’s consumer terms]. Please note that the funds in the Account will not earn any interest.

 

2.8. How to contact us. You can contact us, via the Distributor, by:
2.8.1. telephoning the Distributor at [NUMBER]; or
2.8.2. using any of the communication methods available:
(a) on the secure area of the Distributor’s Website;
(b) on the Distributor’s mobile application (hereinafter referred to as the “Distributor’s App”).
2.9. How we may contact you. If we have to contact you we will do so by telephone or by writing to you at the telephone number, email address or postal address you provided to us or the Distributor. Any changes to your telephone number, email address or postal address or other personal data we hold about you must be notified by you immediately and in writing in accordance with section 2.7.
3. Commencement and expiry of these Terms
3.1. You shall be deemed to accept these Terms by using the Card. The Card shall remain our property and will be delivered by us, or on our behalf, by the Distributor.
3.2. The Terms, excluding Section 7.3, will terminate on the expiry date printed on the Card (“Expiry Date”) unless the Card is auto-renewed, in which case you will be issued with a new Card before the existing one expires. In this instance these Terms will remain valid until the existing Card expires or is otherwise as set out in these Terms.

 

4. Issuance and activation of the Card

 

4.1. You may be issued with:
4.1.1. a “physical” Card, which will have the details of the PAN, the Expiry Date of the Card and the CVV code printed on it (the “Physical Card”); or
4.1.2. a “virtual” Card, in which case you will not receive a Physical Card but will receive details of the PAN, the Expiry Date and the CVV2 code (the “Virtual Card”).

 

4.2. In order to start using the Card, you may be required to activate it in accordance with instructions given to you by the Distributor. You must keep your Physical Card and the details of the Virtual Card (as applicable) in a safe place and protect it against unauthorised access or use by third parties.
4.3. If you are issued with a Physical Card:
4.3.1. you must sign the Physical Card as soon as you receive it;
4.3.2. you may also receive a secret personal identification number (“PIN”) separately by post or you may be able to retrieve it electronically via the Distributor’s Website or the Distributor’s App.
4.4. You should memorise your PIN when you receive it. If you need to keep the written version of the PIN or separately write the PIN down for future reference, you must never keep it with the Card. You must never disclose your PIN to any other person, not even us. If you have not protected your PIN and your Card is used without your knowledge using the correct PIN, this may be classed as negligence for the purposes of Section 8.
4.5. You can manage the Card on your secure area of the Distributor’s Website and on the Distributor’s App.
4.6. The Card shall remain valid until the Expiry Date. If you require a replacement Card, please contact the Distributor using the contact details set out in section 2.7. Please note that an additional fee may be charged for a replacement Card – please see the fees section for more information.

 

4.7. The Card is an e-money product and as such it is not covered by the Financial Services Compensation Scheme. You may only use the Card for lawful Transactions.
5. Transactions

 

5.1. Should the relevant card scheme and/or programme allow, you may use your Card to enter into the following transactions (hereinafter referred to as “Transactions”):
5.1.1. purchasing goods and/or services from merchants affiliated with the card scheme on your Card;
5.1.2. withdrawing cash from authorised banks worldwide;
5.1.3. receiving cash back from merchants (merchant dependent);
5.1.4. making cash withdrawals from automatic teller machines (“ATMs”).

 

5.2. You can authorise a Transaction by:
5.2.1. allowing a merchant to swipe the magnetic strip of the Card and the corresponding sales slip being signed; or
5.2.2. inserting the Card into a chip & PIN device and the correct PIN being entered;
5.2.3. providing relevant information to the merchant that allows the merchant to process the Transaction, for example, providing the merchant with the PAN, the Expiry Date and the CVV2 in the case of an internet or other non-face-to-face Transaction;
5.2.4. relevant information being provided to the payment initiation service provider that allows the payment initiation service provider to process the Transaction;
5.2.5. the Card is tapped against a “contactless” enabled reader and accepted by such reader.
5.3. If any of the methods of authorisation set out in section 5.2  are used, we shall be entitled to assume that you have authorised a Transaction unless we were informed that the relevant details of the Card have been lost, stolen or misappropriated prior the Transaction taking place.
5.4. You acknowledge the correctness of the amount of each Transaction which you authorise.

5.5. Once you have authorised a Transaction, the Transaction cannot be stopped or revoked. You may in certain circumstances be entitled to a refund in accordance with these Terms.
5.6. On receipt of notification of your authorisation of a Transaction and the Transaction payment order from the merchant and/or authorised bank, normally we will deduct the value of the Transaction, plus any applicable fees and charges, from the available funds in the Account. We will execute the Transaction by crediting the account of the merchant’s or ATM operator’s or bank’s (as applicable) payment service provider by the end of the next business day following the notification. If the notification is received on a non-business day or after 4:30 pm on a business day, it will be deemed received on the next business day.
5.7. We are not liable if, for any reason, the affiliated merchants or authorised banks do not accept the Card, or accept it only partly, nor are we liable in the case of late delivery of, or failure to deliver, goods or services. In the event of disputes or complaints of any kind concerning goods or services, or the exercise of any right in this connection, you should contact the affiliated merchant and/or authorised ban and/or ATM operator.
5.8. It is your responsibility to ensure that there are available funds in your Account to cover any spend, allowing for any foreign exchange fees and other applicable fees under these Terms. Should the Account at any time and for any reason have a negative balance, you shall repay the excess amount immediately and in full.
5.9. For Card usage conducted in other currencies (other than the currency of the Card), you shall accept the exchange rate used by Visa, which can be found https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html. Any changes in exchange rates may be applied immediately and without notice. The exchange rate, where applicable to a Transaction, will be shown in the e-statement. Please be careful when opting to use a merchant’s, bank’s or ATM operators exchange rates as they are often less competitive that the card scheme’s exchange rate.
5.10. The maximum amount you may withdraw in cash shall be subject to a daily limit, irrespective of the available funds in the Account. We may charge a fee for withdrawal of cash. Some ATMs may charge an additional fee, which is not included in the Table, however, will apply on top of the fees set out in the Table.

 

5.11. We and the Distributor have the right to review and change the spending limits on the Card at any time. You will be notified of any such changes via the Distributor’s Website and/or the Distributor’s App.

 

6. Non-execution of a Transaction
6.1. In certain circumstances we may refuse to execute a Transaction that you have authorised. These circumstances include:
6.1.1. if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner;
6.1.2. if there are insufficient funds available to cover the Transaction and all associated fees at the time that we receive notification of the Transaction or if there is an outstanding shortfall on the balance of the Account;
6.1.3. if we have reasonable grounds to believe you are acting in breach of these Terms;
6.1.4. if there are errors, failures (mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing Transactions, or
6.1.5. if we are required to do so by law.
6.2. Unless it would be unlawful for us to do so, where we refuse to complete a Transaction, we will notify you as soon as reasonably practicable that it has been refused and the reasons for the refusal, together, where relevant, with the procedure for correcting any factual errors that led to the refusal. Where the refusal is reasonably justified, we may charge you fee when we notify you that your payment request has been refused.
6.3. You may also claim a refund for a Transaction that you authorised provided that your authorisation did not specify the exact amount when you consented to the Transaction, and the amount of the Transaction exceeded the amount that you could reasonably have expected it to be taking into account your previous spending pattern on the Card, these Terms and the relevant circumstances.
6.4. Such a refund must be requested from us within 8 weeks of the amount being deducted from the Card. We may require you to provide us with evidence to substantiate your claim. Any refund or justification for refusing a refund will be provided within 10 business days of receiving your refund request or, where applicable, within 10 business days of receiving any further evidence requested by us. Any refund shall be equal to the amount of the Transaction. Any such refund will not be subject to any fee.
7. Access to information on Transactions and available funds in the Account
7.1. The Distributor has set up a secure area on the Distributor’s Website and on the Distributor’s App where you can view the available balance in your Account and view the details of any Transactions you have entered into. You can gain access to this by following the instructions on the Distributor’s Website or the Distributor’s App. You must keep the credentials to obtain access to the secure areas safe and not disclose them to anyone.
7.2. We can, upon request, send you monthly information (“e-statement”) by email setting out:
7.2.1. a reference enabling you to identify each Transaction;
7.2.2. the amount of each Transaction;
7.2.3. the currency in which the Card is debited;
7.2.4. the amount of any Transaction charges including their break down, where applicable;
7.2.5. the exchange rate used in the Transaction by us and the amount of the Transaction after the currency conversion, where applicable; and
7.2.6. the Transaction debit value date.

If you would like us to provide you with the e-statement more often than monthly or not by email (or if agreed differently under this section 7, more often than agreed or in a different manner than agreed) then we may charge you a reasonable administration fee to cover our costs of providing the information more often or in a different manner.

 

7.3. If for any reason you have some available funds left in your Account following the termination of these Terms, you may redeem them in full up to 6 years following the termination.
8. Loss of the Card / Transaction refunds

 

8.1. As soon as you become aware of any loss, theft, misappropriation or unauthorised use of the Card, PIN or other security details, you must immediately notify us using the contact details set out in section 2.7.

 

8.2. In the event of theft, you should consider reporting the theft to the police.
8.3. If we believe you did not authorise a particular Transaction or that a Transaction was incorrectly carried out, in order to get a refund you must contact us as soon as you notice the problem using the contact details set out in section 2.7, and in any case no later than 13 months after the amount of the Transaction has been deducted from your Account.
2.
8.4. We will refund any unauthorised Transaction and any associated Transaction fees and charges payable under these Terms subject to the rest of this section 8.

 

8.5. This refund shall be made as soon as practicable and in any event no later than the end of the business day following the day on which we become aware of the unauthorised Transaction, unless we have reasonable grounds to suspect fraudulent behaviour and notify the appropriate authorities. If we become aware of the unauthorised Transaction on a non-business day or after 4:30 pm on a business day, we will be deemed to have only become aware of the unauthorised Transaction at the beginning of the next business day.
8.6. If we are liable for an incorrectly executed Transaction, we will immediately refund you the amount of the incorrectly executed Transaction together with and any associated Transaction fees and charges payable under these Terms. Depending on the circumstances, we may require you to complete a dispute declaration form relating to the incorrectly executed Transaction. We may conduct an investigation either before or after any refund has been determined or made. We will let you know as soon as possible the outcome of any such investigation.
8.7. If a Transaction initiated by a merchant (for example, this happens when you use the Card in a shop) has been incorrectly executed and we receive proof from the merchant’s payment service provider that we are liable for the incorrectly executed Transaction, we will refund as appropriate and immediately the Transaction and any associated Transaction fees and charges payable under these Terms.
8.8. We are not liable for any incorrectly executed Transactions if we can show that the payment was actually received by the merchant’s payment service provider, in which case they will be liable.
8.9. If you receive a late payment from another payment service provider (e.g. a refund from a retailer’s bank) via us, we will credit the Account with the relevant amount of any associated fees and charges so that you will not be at a loss.
8.10. We will limit your liability to £35 for any losses incurred in respect of unauthorised Transactions subject to the following:
8.10.1. you will be liable for all losses incurred in respect of an unauthorised Transaction if you have acted fraudulently, or have intentionally or with gross negligence failed to: (a) look after and use the Card in accordance with these Terms; or (b) notify us of the problem in accordance with this section 8;
8.10.2. except where you have acted fraudulently, you will not be liable for any losses:
(a) incurred in respect of an unauthorised Transaction which arises after your notification to us of the loss, theft or misappropriation of the Card;
(b) arising where you have used the Card in a distance contract, for example, for an online purchase;
(c) arising where the loss, theft or misappropriation of the Card was not detectable by you before the unauthorised Transaction took place;
(d) where we have failed to provide you with the appropriate means of notification;
(e) arising where we are required by law (anticipated to apply from 14 September 2019) to apply Strong Customer Authentication (as defined in section 8.11) but fail to do so;
(f) the losses were caused by an act or omission of any employee, agent or branch of ours or any entity which carries out activities on our behalf.

 

8.11. “Strong Customer Authentication” means authentication based on the use of two or more elements that are independent, in that the breach of one element does not compromise the reliability of any other element, and designed in such a way as to protect the confidentiality of the authentication data, with the elements falling into two or more of the following categories: (a) something known only by you (“knowledge”), (b) something held only by you (“possession”); (c) something inherent to you (“inherence”). Strong Customer Authentication it is used to make Transactions more secure.
8.12. We are required to provide Strong Customer Authentication when:
8.12.1. you view the available balance on your Account either through the Distributor’s Website or the Distributor’s App and/or through an account information service provider (“AISP”);
8.12.2. when you initiate an electronic Transaction, directly [or when you initiate a remote electronic Transaction through a payment initiation service provider (“PISP”)]; or
8.12.3. when you carry out any action through a remote channel which may imply a risk of payment fraud or other abuses.
8.13. If our investigations show that any disputed Transaction was authorised by you or you may have acted fraudulently or with gross negligence, we may reverse any refund made and you will be liable for all losses we suffer in connection with the Transaction including but not limited to the cost of any investigation carried out by us in relation to the Transaction. We will give you reasonable notice of any reverse refund.
9. Blocking of the Card

 

We may block the Card, in which case you will not be able to execute any further Transactions, if we have reasonable concerns about the security of the Card or suspect the Card is being used in a fraudulent or unauthorised manner. We will notify you of any such blocking in advance, or immediately after if this is not possible, and of the reasons for the suspension unless to do so would compromise reasonable security measures or otherwise be unlawful. We will unblock the Card and, where appropriate, issue a new Card, PIN and other security features free of charge as soon as practicable once the reasons for the suspension cease to exist.

10. Data Protection
10.1. You agree that we can use your personal data in accordance with these Terms and our privacy policy, which is set out on www.railsbank.com/payrnet. This privacy policy includes details of the personal information that we collect, how it will be used, and who we pass it to. You can tell us if you do not want to receive any marketing materials from us. For the avoidance of doubt, we will share your personal data with the Distributor.
10.2. To comply with applicable know-your-client-rules and anti-money laundering regulations (such as the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002, we and/or the Distributor and/or each of our banking providers and any other business partner (the “Partner”) shall be entitled to carry out all necessary verifications of your identity. The above mentioned Partner and the Distributor may use a recognised agency for this verification purposes (details of the agency used will be provided to you on request). Such verifications will not affect your credit score but may leave a ‘soft footprint’ on your credit history.
11. Fees and spending limits
11.1. You are liable for paying all fees arising from your use of the Card and subject to all spending limits placed on the Card by us.
11.2. The fees and spending limits on the Card are set out:
11.2.1. in the table set out in Annex A attached hereto;
11.2.2. on the secure area of the Distributor’s Website; and/or
11.2.3. on the Distributor’s App.
12. Complaints
12.1. If you would like to make a complaint relating to these Terms, please contact us using the contact details in section 2.7 so we can resolve the issue. We will promptly send you a complaint acknowledgement and a copy of our complaints procedure.
12.2. Please note that you may request a copy of our complaints procedure at any time. Details of our complaints procedure can also be found on our website. You agree to cooperate with us and provide the necessary information for us to investigate and resolve the complaint as quickly as possible.
12.3. We will endeavour to handle your complaint fairly and quickly, however, if you are not satisfied with the outcome, you may contact the Financial Ombudsman Service at Exchange Tower, London E14 9SR; telephone: 0800 023 4567 or 0300 123 9 123; website: http://www.financial-ombudsman.org.uk; and e-mail:     complaint.info@financial-ombudsman.org.uk
12.4. We are a “trader” and “online trader” for the purposes of the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015 (“ADR Law”). The Financial Ombudsman Service is the only “ADR entity” we are legally obliged and committed to use in order to resolve disputes with consumers for the purposes of the ADR Law. We do not agree to resolve disputes with consumers using any other ADR entity or similar entity.
12.5. The European Commission’s online dispute resolution (“ODR”) platform can be found at https://ec.europa.eu/consumers/odr/main/?event=main.adr.show. The ODR platform can be used to resolve disputes between us and consumers.
13. Third Party Payment Service Providers
13.1. This section 13 applies when you use the services of an AISP or a PISP.
13.2. We may deny an AISP or PISP access to the Account for reasonably justified and duly evidenced reasons relating to unauthorised or fraudulent access to the Account by that AISP or PISP, including the unauthorised or fraudulent initiation of a Transaction. If we do deny access in this way, we will notify you of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP or PISP access to the Account once the reasons for denying access no longer apply.
14. Cooling off period
14.1. If you purchased the Card online or by some other remote means, for example via telephone, you are entitled to a 14-day “cooling off” period from the date your received your original Card during which you may cancel the Card. Should you wish to cancel the Card and these Terms during the “cooling off” period, please return the Card to [insert customer name and address/other means to return the Card] unsigned and unused within 14 days of issue and a full refund of any fees paid to date will be made to you. If you have used the Card, you will not be entitled to a refund of any funds that have been spent, including any associated fees, but we will refund any unspent available funds free of charge.
15. Other important terms

 

15.1. The Terms and all communications will be in English. You may request a copy of these Terms free of charge at any time during the contractual relationship. If we need to contact you in the event of suspected or actual fraud or security threats, we will first send you an SMS or email prompting you to contact our customer services team using the contact information we have been supplied with.
15.2. We may transfer this agreement to someone else. We may transfer our rights and obligations under these Terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.

 

15.3. You need our consent to transfer your rights to someone else. You may only transfer your rights or your obligations under these Terms to another person if we agree to this in writing.

 

15.4. Nobody else has any rights under this contract. This contract is between you and us. No other person shall have any rights to enforce any of its terms.

 

15.5. Changes to these Terms / Termination. We reserve the right to amend these Terms for any reason by giving you two-months’ notice by e-mail. You will be deemed to have accepted the changes if you raise no objection prior to the expiry of the period set out in the notice. If you do not wish to accept the changes, you may terminate these Terms immediately and without charge by proving us with notice at any time prior to the expiry of the notice period. At all other times you may terminate these Terms at any time by giving us one months’ notice in accordance with section 2.7 and we may terminate these Terms by giving you two months’ notice in accordance with section 2.8.

 

15.6. If a court finds part of this contract illegal, the rest will continue in force. Each of the sections and sub-sections of these Terms operate separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

 

15.7. Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these Terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you do not pay us on time and we do not chase you but we continue to provide the services, we can still require you to make the payment at a later date.

 

15.8. Which laws apply to this contract and where you may bring legal proceedings. These Terms are governed by English law and you can bring legal proceedings in respect of these Terms in the English courts. If you live in Scotland you can bring legal proceedings in respect of the these Terms in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of these Terms in either the Northern Irish or the English courts.

 

 

Annex A – Fees Table

[FOR CUSTOMER TO DECIDE IF ADD FEES HERE OR ELSEWHERE/ REFER END USER TO CUSTOMER’S WEBSITE FOR FEES]