Please carefully read the following terms and
conditions. You acknowledge that you understand and agree to all these terms if
you have created or used a card service or have clicked an “I accept” button
with respect to the use of card services.
and conditions are between you (User) and Monavate
Ltd (“Monavate” the Card Issuer), who is authorised by the FCA to issue e-money
under the electronic money regulations 2011 with FCA reference number 901097
and licensed as a principal member of Mastercard in certain territories.
Please note the
following risks of using the services, which are set forth in more detail in
the relevant sections of these terms and conditions: the Card Issuer may close,
suspend, or limit your access to your Card Account if you violate these
services, or any other agreement you enter in relation with this service, or as
may be otherwise specified in these terms and conditions. The Card Issuer may
also use fraud and risk modeling when assessing the risk associated with your
These Terms and Conditions
change these Terms and Conditions including without limitation changing the existing fee
structure or introducing new fees, from time to time. If so, we will provide
you with at least 2 months’ notice before such changes take effect unless we
are required to make such a change sooner by law.
The up-to-date version of these
Terms and Conditions will be emailed to the User outlining the changes made.
The latest version of the Terms and Conditions will also be available to view
through the website. You will be bound by these Terms and Conditions and any
amendments made to them.
You will be taken to have
accepted any change to these Terms and Conditions that we notify you about,
unless you tell Us that you do not agree with the particular change before the
relevant change takes effect. In such circumstance, you may at any time
terminate these Terms and Conditions before the changes take effect, without
any liability to you or Us and we will close the account and any other related
service and refund the balance to you.
Scope of these Terms and
These Terms and
Conditions govern the use of the Card by you as the
User. The funds held in your Card Account are held as e-money and no interest
will be paid on these. When you make a debit Transaction, the value of the
Transaction plus any associated fees payable will be deducted from Your Card
Account and used to complete the Transaction.
issued a Card You must be at least 18 years old. Before we can issue you a
Card, we will need to know some information about you. We will check your
identity and where you live. We may use third parties to obtain this
information and carry out checks on our behalf, this may include using credit
reference agencies. However, a credit check is not performed, and your credit
rating will not be affected.
the right to refuse to issue you a Card.
If You have
any problems with your Card, please contact Customer support.
receive a plastic Card, you must sign it as soon as you receive it and activate
it. Activation instructions are set out on the packaging that your Card is
attached to. Your Card cannot be used until this is done.
Loading your card
be transferred into your Card Account by you or by another individual or entity
using one of the following options:
By making a
By using a
other Account Holder
This is also defined as
Person-to-Person (P2P) transfer.
on the method you use to load Your Card Account, a fee may be charged, see Fees
Summary for details.
apply to the number of times your Card Account may be loaded in a day. Minimum
and maximum load limits also apply, these are set out in the Fees Summary. We
reserve the right to refuse to accept any particular load transaction.
Using your card
You can use
your Card to purchase goods and services anywhere MasterCard® is accepted. You
can also withdraw cash at an ATM or over the counter at a financial institution
displaying the MasterCard® logo, subject to there being sufficient funds in
your Card Account and the Merchant, ATM supplier or financial institution being
able to verify this online.
spending and withdrawal limits for the use of your Card, please see Fees
Summary for details.
that some ATM providers charge additional fees for the use of their ATMs and
some Merchants add a surcharge for using certain types of cards. You may also
be subject to their terms and conditions of business. It is your responsibility
to check before proceeding with your Transaction.
the right to decline any Transactions at our discretion.
We may at
any time suspend, restrict, or cancel your Card or refuse to issue or replace a
Card for reasons relating to the following:
concerned about the security of your Cards or Card Account;
your Card is being used in an unauthorised or fraudulent manner;
an important part of these Terms and Conditions or repeatedly break any term in
these Terms and Conditions and fail to resolve the matter in a timely manner;
If We take
any of the steps referred to above in Section 5.4a., We will tell you as soon
as we can or are permitted to do so after we have taken such steps. We may ask
you to stop using your Card and return it to Us or destroy it. We will issue
you with a replacement Card if after further investigations we believe that the
relevant circumstances no longer apply.
We may also
decline to authorise a transaction:
suspect your Card is being used in an unauthorised or fraudulent manner;
sufficient funds are not loaded on your Card at the time of a Transaction to
cover the amount of the Transaction and any applicable fees; or
believe that a Transaction will break the law.
refuse to authorise a Transaction, we will, if practicable, tell you why
immediately unless it would be unlawful for Us to do so. You may correct any
information we hold, and which may have caused Us to refuse a Transaction by
contacting Customer support. We shall
not be liable in the event that a Merchant refuses to accept your Card or if we
do not authorise a Transaction, or if we cancel or suspend use of your Card.
Unless otherwise required by law, we shall not be liable for any loss or damage
you may suffer as a result of your inability to use your Card for a
not spend more money with your Cards than you have in your Card Account. You
are responsible for ensuring that you have sufficient funds when you authorise
a Transaction. If this occurs, you must pay the overspend to Us immediately. We
will take any such action seriously and take any steps necessary to enforce any
actions against you.
that once we notify you of any such overspend by whatever means you must repay
it immediately. We reserve the right to deduct an amount equivalent to the
overspend from any other Cards that you hold with Us. We may suspend your Card
and any other Cards connected to you until we are reimbursed the overspend
sectors, Merchants such as car hire companies, hotels, restaurants and other
service providers will estimate the sum of money you may spend or for which you
require authorisation. The estimate may be for greater than the amount you
spend or are charged, for example:
may not be able to authorise a Transaction if they cannot obtain online
authorisation from us. Any refunds for goods or services purchased with your
Card may only be returned as a credit to the Card. You are not entitled to receive
refunds in cash.
no responsibility for the goods or services purchased by you with your Card.
All such disputes must be addressed directly with the Merchant providing the
relevant goods or services. Once you have authorised your Card to make a
purchase, we cannot stop that Transaction.
Transaction will be regarded as authorised by you where you authorise the
Transaction at the point of sale by following the instructions provided by the
Merchant to authorise the Transaction, which includes:
your PIN or providing any other security code;
the Card details and/ or providing any other details as requested;
swiping the Card over a card reader;
Card and entering your PIN to request a cash withdrawal at an ATM;
request for a cash advance at any bank counter.
for a Transaction may not be withdrawn (or revoked) by you after the time we
have received it. However, any transaction which is agreed to take place on a
date later than the date it was authorised may be withdrawn if you give notice
to the Merchant (providing a copy of the notice to us) as long as notice was
provided no later than the close of business on the business day before the
transaction was due to take place. We may charge you a fee if a transaction is
revoked by you under this Section (see the Fees Summary for details).
reserve the right to apply a monthly maintenance charge, if we do, the amount
will be set out in the Fees Summary. You are responsible for all Transactions
and fees charged to your Card Account.
Transactions made in foreign
If you use your Card to purchase goods or
services or withdraw cash in a currency other than the currency of your Card
Account, then such Transaction will be converted to the currency of your Card
on the day we receive the details of it. We will use MasterCard ® authorised
rates applicable for such a Transaction see https://www.mastercard.us/en-us/personal/get-support/convert-currency.html.
A foreign exchange fee will also apply (see Fees Summary for details). Wherever
you use your Card, you must always do so in compliance with the laws of that
You may be
entitled to claim a refund in relation to Transactions made using your Card
Transaction was not authorised under these Terms and Conditions;
responsible for a Transaction which was incorrectly executed and notified to Us
in accordance with Section 12 below;
pre-authorised Transaction did not specify the exact amount at the time of its
authorisation and the amount charged by a Merchant is more than you could
reasonably have expected taking into account normal spending patterns on the
Card or the circumstances of the Transaction. However, a claim for a refund in
this circumstance will not be accepted if the amount of the Transaction was made
known to you at least 4 weeks before the Transaction date or if the claim is
made more than 8 weeks after being debited to your Card Account;
notified of the unauthorised/incorrectly executed transaction within 13 months
of the debit date of such Transaction.
If any of
the above circumstances apply, you should contact the Merchant first as this
may lead to a quicker resolution of the dispute. You can also ask Us to
investigate the Transaction or misuse of your Card. We will immediately process
a refund of the amount of the disputed Transaction. We may need more
information and assistance from you to carry out such an investigation.
refund a disputed Transaction to Your Card Account and subsequently receive
information to confirm that the Transaction was authorised by you and correctly
posted to your Card Account, we shall deduct the amount of the disputed
transaction from the funds in your Card Account. If there are no or
insufficient funds, then the provisions regarding overspend on your Card
Account (see Section 5.6 will apply) will apply.
investigations discover that the disputed transaction was genuine and
authorised by you directly or indirectly, or that you have acted fraudulently
or with gross negligence, we may charge you an investigation fee (see the Fees
Summary for details).
Card expiry & damage &
valid for a period of 36 months from the date of issue. The expiry date of your
Card is printed on its back. You will not be able to use your Card once it has
expired, nor will you be able to use the funds in your Card Account. We reserve
the right to decline to issue a replacement Card.
If you do
not request, nor have we provided you with a new Card following expiry of your
Card, any funds remaining in your Card Account will remain for a period of 6
years from the Card expiry date. Your Card Account will be subject to a monthly
maintenance charge (see Fees Summary). You may contact Customer support to
request your funds be returned to you at any time within the 6-year period. The
funds cannot be provided to you in the form of cash (notes and coins). Any
funds remaining in your Card Account after 6 years will not be refunded.
is valid for the period stated on the Card, unless its use is terminated earlier
by Us or you in accordance with these Terms and Conditions.
If you ask,
we may replace a damaged Card, in this circumstance a fee may apply (see Fees
Summary for details). You will be asked to provide Us with Your Card number and
other information so that we can identify you.
receive a refund of sums paid for goods and services on your Card, the refund
amount will be added to the balance in your Card Account.
Keeping your card safe
keep your Card safe. Your Card is personal to you and you must not give it to
anyone else to use. You must take all reasonable precautions to prevent
fraudulent use of your Card.
receive a PIN for your Card and you must keep your PIN safe. This means that
when you receive your PIN you must memorise it. You must keep Your PIN secret
at all times. You must not disclose your PIN to anyone including friends,
family or Merchant staff.
suspect that someone else knows your PIN, change it as soon as possible. You
can change it at most ATM's by selecting the "PIN Services'' option or
when you log on to Your Card Account. If you forget your PIN, you can access it
when you log on to your Card Account.
If You know
or suspect that your PIN is known to an unauthorised person, or if you think a
Transaction is unauthorised or has been incorrectly executed you must tell Us
without delay by contacting Customer support. If You know or suspect your Card
is lost or stolen you must contact Customer support straight away.
section 11.3, your maximum liability for any unauthorised Transactions on your
Card is £35, unless our investigations show that any disputed Transaction was
authorised by you, or you have acted fraudulently or with gross negligence (for
example by failing to keep your Card or PIN secure or by failing to notify Us
without delay on becoming aware of the loss, theft or unauthorised use of your
Card), in which case you will be fully liable for any loss we suffer resulting
from the use of the Card.
not be liable for any losses incurred in respect of an unauthorised Transaction
if you have exercised reasonable care in safeguarding your Card and PIN and any
other log-in details from risk of loss or theft and, upon becoming aware of an
unauthorised Transaction or the loss or theft of your Card or PIN or other
log-in details, you notified Us promptly. Once you have notified Us of the
loss, theft, misappropriation or unauthorised use of your Card or PIN or other
log-in details and, provided you have not acted fraudulently or with gross
negligence, we will refund the amount of any Transaction that occurs which our
investigations show were not authorised by you.
the right to charge you for any reasonable costs that we incur in taking action
to stop you using your Card and to recover any monies owed as a result of your
liability to you under these Terms and Conditions shall be subject to the
following exclusions and limitations. We will not be liable for any loss
refusing to accept your Card; or
which results from abnormal or unforeseen circumstances beyond our reasonable
control or which would have been unavoidable despite all our efforts to stop
suspending, restricting or cancelling your Card or refusing to issue or replace
it if we suspect your Card or Card Account is being used in an unauthorised or
fraudulent manner, or as a result of you breaking an important term or
repeatedly breaking any term in these Terms and Conditions;
compliance with any applicable laws;
corruption of data unless caused by our wilful default/wrongdoing.
otherwise required by law or as set out in these Terms and Conditions, we will
not be liable to you in respect of any losses you or any third party may suffer
in connection with the Card as a result of our actions which were not a
foreseeable consequence of our actions.
We will not
be liable for the goods or services that you purchase with your Card.
to time, your ability to use your Card may be interrupted, e.g., when we carry
out maintenance. If this happens, you may be unable to:
Card to pay for purchases or obtain cash from ATMs (if applicable); and/or
information about the funds available in your Card Account and/or about your
Card is faulty our liability shall be limited to replacement of the Card loaded
with your funds on the Card Account.
are incorrectly deducted from your Card Account Funds Our liability
shall be limited to payment to you of an
11.11. In all
other circumstances our liability will be limited to repayment of the amount of
the funds in your Card Account.
Lost, stolen or &
treat the value on your Card like cash in a wallet. If your Card is lost or
stolen or there is unauthorised use of your Card, you may lose some or all of
the value on your Card Account in the same way as if you lost cash.
believe that any Transaction posted to your Card is unauthorised, has been
posted in error or is otherwise incorrect, you must also let Us know
immediately by contacting Customer support. We may require you to provide
details of your complaint in writing.
You may be
required to help us, our agents or any enforcement agency, at our request, if
your Card is lost or stolen or if we suspect Your Card is being misused.
Card is reported lost or stolen, we will cancel it and may issue a new one. A
fee may apply (See Fees Summary).
If you find
your Card after you have reported it lost, stolen or misused, you must destroy
it and inform Us immediately.
will be made until any investigation that we need to carry out is complete.
We reserve the
right not to refund sums to you if we believe that you have not acted in
accordance with these Terms and Conditions.
view your Card Account balance and Transactions on the ‘Cards Distributor App’
at any time. The statements are downloadable for each of your currency wallets.
Each currency wallet statement sets out: a reference enabling You to identify
each transaction; the amount of each transaction; the currency in which Your
Card is debited; 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
the transaction debit value date. If You have any questions, please contact Our
Customer support team (see clause 18). You are responsible for keeping your log
on details secret. If you believe someone else is using your log on details or
may know it, you must contact the Distributor immediately.
request the information specified in clause 13.1 above to be made available as
specified in clause 13.1 instead (in the app). If You chose to do so, You must
separately request this by contacting Our Customer support team according to
clause 18. If You have any questions, please contact Our Customer support team
(see clause 18).
Cancellation, termination and
cancel your Card and Card Account up to 14 days after you receive your Card
(‘the Cancellation Period’), without reason, by contacting Customer support. We
will not charge you a cancellation fee. We will require you to confirm your
wish to cancel in writing. This will not entitle you to a refund of any
Transactions you have made (authorised or pending) or charges incurred in respect
of such Transactions. The purchase price of the Card (Card Fee) will not be
on the method by which you choose to have your remaining Card Account
balance refunded, a fee may be charged which
will be deducted from the balance of your Account (see Fees Summary for
cancel your Card, or at any time and without penalty:
Cancellation Period (see Section 14.1 above); or
disagree with a change we intend to make to these Terms and Conditions.
You may also cancel your Card at any time, for
any reason however a cancellation fee will apply (see Fees Summary for
your Card, you must notify Customer support. You will be responsible for any
Transactions you have made, or charges incurred before you cancelled your Card.
Once we have been notified by you, we will block the Card straight away so it
cannot be used, we will wait 21 days for all Transactions to be processed
before we refund the remaining balance of money to you. This is to ensure all
Your pending Transactions have been settled.
Card is cancelled you must destroy it by cutting it in half through the chip
and magnetic strip.
terminate your Card at any time if we give You 2 months’ notice and refund any
remaining funds to the same bank account originally used to fund the account.
suspend or terminate these Terms and Conditions with you and your use of your
Card immediately if
not complied with these Terms and Conditions; or
If we have
reason to believe that you have used or intend to use the Card in a negligent
manner or for fraudulent or other unlawful purposes; or
Transaction has been declined because of lack of available value in your Card
If you fail
to pay any fees or charges that you have incurred or fail to repay any
overspend incurred on your Card Account.
and Conditions will terminate in the event of your death.
suspend your Card at any time with immediate effect if
that any information you have provided is incorrect or incomplete; or
Transaction has been declined because of lack of available value in your Card
Transaction, fee or charge is found to have been incurred using Your Card
following cancellation or termination, you agree to pay all such sums to Us
immediately on demand.
Ltd respects and complies with the EU General Data Protection Regulations
Distributor respects and complies with the EU General Data Protection
can be found at https://www.mypocket.io/en/privacy-policy-2023-06/
As you make
use of our Card, you acknowledge that we can use your personal data in
and protect your personal data in accordance with applicable data protection
laws and regulations.
let Us know as soon as possible if you change your name, address,
telephone number (or e-mail address). If we
contact you in relation to your Card, for example, to notify you that we will
be changing the Terms and Conditions or have cancelled your Card and wish to
send you a refund, we will use the most recent contact details you have
provided to us. (Any e-mail sent to you will be treated as being received as
soon as it is sent by us).
We will not
be liable to you if your contact details have changed, and you have not
If you are
not satisfied with the service you are receiving, you should provide written
details of your concerns to Customer support.
All queries will be handled in accordance with our complaints procedure.
Customer support will provide a copy of the complaint procedure upon request.
You can also access it on the website.
acknowledgment of the complaint will be communicated within 24 hours by The
Distributor. For complaints relating to payment services The Distributor has 15
business days to issue final response to the complainant and it requires that
this practice is followed (as a maximum timescale) for all complaints unless
there are exceptional circumstances, beyond the control of The Distributor, in
which case the final response will be issued by the end of the 35th business
day. For more information about the complaints procedure, please refer to The
If we are
unable to resolve your complaint, you may contact the Financial Ombudsman
contact the Financial Ombudsman Service by:
Post: addressing your complaint to the Financial
Ombudsman Services, South Quay Plaza, 183 Marsh Wall, London E14 9SR, United
Phone: on 0845 080 1800; or
E-mail: at email@example.com.
The Financial Ombudsman Service’s website is www.financial-ombudsman.org.uk.
For Customer support contact details, please see
Your use of
your Card is subject to the fees and charges set out in the Cards Distributor
and Conditions. Any or all of these fees/charges may be waived or reduced at
Our discretion. Our fees/charges may change over time, if so, we will notify
you in advance of such changes in accordance with Section 1.1. Your banking
provider may charge a fee for the transfer of funds and/or additional ATM fees
may be charged by the ATM provider. Any such fees would be in addition to the
fees set out in the Fees Summary on the website.
charges will be paid from your Card Account at such time they are incurred.
Terms and Conditions, headings are for convenience only and shall not affect
the interpretation of these Terms and Conditions. Any delay or failure by Us to
exercise any right or remedy under these Terms and Conditions shall not be
interpreted as a waiver of that right or remedy or stop Us from exercising Our
rights at any subsequent time.
You may not
novate, assign, or transfer any rights and/or benefits under these Terms and
Conditions. We may assign, transfer, or novate Our rights and benefits and
obligations at any time without prior written notice to you. If you do not want
to transfer to the new Card Issuer you may contact us, and we will terminate
your Card and Card Account. Any balance remaining in your Card Account will be
returned to you in accordance with our redemption procedure. We may subcontract
any of our obligations under these Terms and Conditions.
event that any part of these Terms and Conditions are held not to be
enforceable, this shall not affect the remainder of these Terms and Conditions
which shall remain in full force and effect.
remain responsible for complying with these Terms and Conditions until your
Card and your Card Account are closed (for whatever reason) and all sums due
under these Terms and Conditions have been paid in full.
and Conditions are written and available only in English and all correspondence
with you in respect of your Card and Card Account shall be in English in the
event that these Terms and Conditions are translated, the version in English
shall take priority.
and Conditions are governed by the laws of England, and you agree to the non-exclusive
jurisdiction of the English courts.
SCHEDULE 1 – DEFINITIONS
"You" or "Your" means the
person who has opened a Card Account with Us by agreeing to these Terms and
"Card Issuer" means Monavate Ltd (registered number 12472532), The Officers Mess
Business Centre, Royston Road, Duxford, Cambridge, England, CB22 4QH, Monavate
Ltd is an electronic money issuer regulated by the Financial Conduct Authority
under registration number 901097
Support" Our contact details are indicated in
or “Account” means the electronic money account to
which your Card is linked.
"Card" means the Mastercard® prepaid card issued to you whether in the
form of a plastic, digital or virtual card, under these Terms and Conditions.
"Service" means the payment solution that allows Users to make (i) card
transactions; (ii) transfer, request, collect, split money to/for other Users
or Non-Users; or (iii) withdraw monies from your Account using a mobile device,
the internet, or other technologies.
"Mastercard®" means Mastercard International incorporated in New York or its
successors or assigns.
"Merchant" means a retailer or any other person or firm or company providing
goods and /or services that accepts cards displaying the Mastercard® acceptance
symbol in payment for such goods and /or services.
"PIN" means the personal identification number which we may issue or
approve to be used with your Card.
Conditions" means these terms and conditions
together with the Fees Summary, any supplementary terms and conditions and
amendments to them that we may notify you of from time to time.
Distributor App" is the software product that
a User uses to access the Card Account, obtain information, and use the Card
Account Services. It can be, but not limited to, in the form of a website or an
application for a computing device, personal computer or mobile device.
Distributor" means the
payment solution service ("MyPocket
means the payment solution
service that allows Users to make (i) card transactions; (ii) transfer,
request, collect, split money to/for other Users or Non-Users; or (iii)
withdraw monies from your Account using a mobile device, the internet or other
technologies through which MyPocket may choose to offer its payment solution from
time to time.
"Transaction" means the use of the Card Services to instruct a third party to
send/receive/request/split/collect/exchange funds on your behalf for a purpose
permitted hereunder. Transaction also means any cash withdrawal, purchase of
goods and/or services (as appropriate) completed by you using Your Card, or any
action which alters the balance of your Card Account.
"We" or "Our" means Monavate
"User" means any person or entity using the Card Services including you
and other Account Members.
"Website" means www.monavate.com.