You Agree To Comply To
You Agree To Comply To
You Agree To Comply To
IMPORTANT INFORMATION: These terms and conditions (“Agreement”) govern the use of the
Payment Services defined below supplied by Prepaid Financial Services Ltd, Fifth Floor, Langham
House, 302-308 Regent Street, London, W1B 3AT whose details are in Clause 2 (“we”, “us”, “our”) to
any person whose application we approve (“Customer”, “you”, “your”). Words that begin with a
capital letter have the meaning given either where they first appear in this Agreement or in Clause 1.
This Agreement also includes the terms of our Privacy Policy found at:
http://prepaidfinancialservices.com/en/privacy-policy
By activating your Card, you agree to comply to the terms of this Agreement (a copy of which you
may download and store at any time).
This Agreement shall commence at that time and continue unless cancelled under Clause 10 or
terminated under Clause 12. We reserve the right to change this Agreement by giving 2 months’ notice
to you in accordance with Clause 18. If we do this, you may terminate this Agreement immediately
and without charge before the proposed changes take effect, otherwise you shall be deemed to have
accepted such changes when the 2 months’ notice expires. However, you agree that changes to the
Applicable Exchange Rate may be applied immediately and at the rate quoted via the Payment Service
at the time of the relevant Transaction. Please also read the conditions of redemption, including any
fees relating to redemption, in Clause 11 before activating your Card.
Primarily the communication will happen through Finnish Immigration Office or through the reception
center. If necessary we will communicate directly with you in Finnish or English. Key information
relating to your Transactions will be provided to you at the email address you register with us and/or
in your Account. You may access, download and print this information at any time by logging in to
your Account. In addition, you agree that we may provide notices or other information to you from
time to time by posting it in your Account, emailing it to your registered email address, mailing it to
your registered physical address, calling you by phone or sending you mobile messages. Notices to
you by email or mobile messages shall be deemed given 24 hours after the email is sent, unless the
sending party is notified that the email address is invalid. Notices sent by registered mail shall be
deemed to have been received three days after the date of mailing. You may contact us as specified
in Clause 2.
You may request a copy of any legally required disclosures (including this Agreement) from us via the
contact details in Clause 2, and we will provide this to you in a form which enables you to store the
information in a way that is accessible for future reference for a period of time adequate for the
purposes of the information and which allows the unchanged reproduction of the information stored
via, for example, our website, your Account or by email.
"Available Balance" the amount of E-money issued by us to you but not yet spent or
redeemed;
“Card Scheme” the operator of the payment scheme under which we issue each
Card;
“Credit Transfer” A facility whereby you instruct us to send funds from your
Available Balance to another bank account quoting the IBAN and
BIC of the intended recipient of the funds.
“Customer Due the process we are required to go through to verify the identity
of our Customers;
“E-money” monetary value issued by us to your Account on receipt of funds
on your behalf in our Customer Funds Account, equal to the
amount of funds received;
“Fees” the fees payable by you for the Payment Services as specified in
the attached Fees & Limits Schedule;
“Loading Card” means a payment card that you register with us, from which you
may instruct us to debit funds for a Load.
"Merchant" a retailer who accepts Payment for the sale of goods or services
to you;
"Payment Services" means the services supplied by us to you under this Agreement,
including issuing Cards, Accounts and PFS IBANs; and executing
Transactions;
“PFS IBAN” means a virtual IBAN issued by our bank service provider that we
allocate to you which can be used by you or others for the
purpose of making a Credit Transfer of funds that will result in a
credit of the relevant funds to your Account.
7.2. You must keep your PIN safe, and separate from your Card or any record of your Card number
and not disclose it to anyone else. This includes:
i. memorising your PIN as soon as you receive it, and destroying the post mail or other
authorised communication used to transmit it to you;
ii. never writing your PIN on your Card or on anything you usually keep with your Card;
iii. keeping your PIN secret at all times, including by not using your PIN if anyone else is
watching;
iv. not disclosing your PIN to any person.
7.3. The user of the Card(s) must sign the signature strip on any Personalised Card immediately
when received.
7.4. If you forget your PIN, you should call automatic phone service +358 203 55144 and follow the
instructions. Or you can ask help from your Reception Center.
7.5. You must not give the Card to any other person or allow any other person to use the Payment
Services. You must keep the Card in a safe place.
7.8. Failure to comply with this Clause 8 may affect your ability to claim any losses in the event
that we can show that you have intentionally failed to keep the information safe or you have
acted fraudulently, intentionally, with undue delay or with gross negligence. In all other
circumstances, your maximum liability shall be as set out below at Clause 14.2
7.9. If you believe that someone else knows your Account or Card security, you should contact
your Reception Center immediately.
7.10. Once your Card has expired (see Clause 11) or if it is found after you have reported it as lost
or stolen you must destroy your Card by cutting it in two through the magnetic strip.
8. Identity Verification
8.1. You must notify the Government Agency within 7 days of any change in the Account address
or your other contact details. The Government Agency may require you to confirm such
notification in writing. You will be liable for any loss that directly results from any failure to
notify us of such a change as a result of undue delay, your gross negligence or fraud. We will
need to verify your new Account address and shall request the relevant proofs from you.
10.4. If any Transactions are found to have been made using your Card or PFS IBAN after expiry or
any action has been taken by us under Clause 12.3, you must immediately repay such amounts
to us.
10.5. Where it is practicable and lawful for us to do so or would not compromise reasonably justified
security reasons, we will notify you via email or through Finnish Immigration Service of the
suspension or restriction and the reasons for it before such measures take place or
immediately thereafter.
10.6. We will reinstate your Account or execute the relevant Transaction(s) as soon as practicable
after the reasons pursuant to Clause 12.3 no longer apply or exist.
10.7. If you wish to terminate the Payment Services at any time, you must request termination and
the return of your Available Balance from your Reception Center. Our Customer Services
department will then suspend all further use of your Payment Services.
10.8. Once we have received all the necessary information from you (including any Customer Due
Diligence) and all Transactions and applicable Fees and charges have been processed, we will
refund to the you any Available Balance less any Fees and charges payable to us, provided
that:
10.9. you have not acted fraudulently or with gross negligence or in such a way as to give rise to
reasonable suspicion of fraud or gross negligence; and
10.10. we are not required to withhold your Available Balance by law or regulation, or at the request
of the police, a court or any regulatory authority.
10.11. Once the Payment Services have been terminated, it will be your responsibility to destroy the
Card(s) that were provided to you.
10.12. If, following reimbursement of your Available Balance, any further Transactions are found to
have been made or charges or Fees incurred using the Card(s) or we receive a reversal of any
prior funding Transaction, we will notify you of the amount and you must immediately repay
to us such amount on demand as a debt.
ii. Provided we have obtained your consent to close the Account, your Reception Center will
then provide you with a replacement Card with a corresponding new Account loaded with
an amount equivalent to your last Available Balance (less any applicable fees).
11.2. Once we have been notified of any loss or theft, we will suspend the Payment Services as soon
as we are able, to limit any further losses (see Clause 14). We can only take steps to prevent
unauthorised use of the Payment Services if you can provide us with the Account or Card
number and Username and Password and if you can produce sufficient details to identify
yourself and the relevant Account.
11.3. Replacement cards will be provided to you directly by your reception center.
11.4. If you subsequently find or retrieve a Card that you have reported lost or stolen, you must
immediately destroy the found Card by cutting it in half through the magnetic stripe and chip.
11.5. You agree to help us, our agents, regulatory authorities and the police if your Card is lost,
stolen or if we suspect that the Payment Services are being misused.
12.1. Subject to Clauses 14.2, 14.3 and 14.6 we will reimburse you in full for all unauthorised
Transactions sent from your Account immediately and in any event no later than the end of
the following Business Day after noting or being notified of the Transaction (except where
we have reasonable grounds for suspecting fraud), provided that you have informed us of
the unauthorised Transaction without undue delay after becoming aware of the Transaction
and in any event, no later than 13 months after the transaction was executed. Where
applicable, we shall restore your Account to the state in which it would have been had the
unauthorised Transaction not taken place, so that that the credit value date shall be no later
than the date the amount had been debited.
12.2. You may be liable for losses relating to any unauthorized Transactions up to a maximum of
£35 resulting from the use of a lost or stolen Card or the misappropriate of your Account,
unless the loss, theft or misappropriation was not detectable to you prior to payment
(except where you acted fraudulently) or was caused by acts or lack of action of our
employee, agent, branch or service provider.
12.3. You are liable for any losses incurred by an unauthorised Transaction if you have acted
fraudulently or failed either intentionally or through gross negligence, to use your Account in
accordance with the terms of this Agreement or to keep your Access Codes confidential and
secure in accordance with Clause 8.
12.4. You shall not be liable for losses incurred by an unauthorised Transaction which takes place
after you have notified us of a compromise of your Access Codes according to Clause 8,
unless you have acted fraudulently, or where we have failed to provide you with the means
to notify us in the agreed manner without delay on you becoming aware of the loss, theft,
misappropriation or unauthorised use of your Card or Account.
12.5. We shall not liable for a refund or losses incurred by an incorrectly or non-executed
Transaction if the details of the payee’s account provided by you were incorrect or we can
prove that the full amount of the Transaction was duly received by the payment service
provider of the payee.
12.6. We shall not be liable for any unauthorised or incorrectly executed Transactions in case the
transaction was affected by abnormal and unforeseeable circumstances beyond our
reasonable control or where we acted in accordance with a legal obligation.
12.7. Where we are liable for the incorrect execution of a Credit Transfer or Standing Order that
you receive under this Agreement, we shall immediately place the amount of the
Transaction at your disposal in accordance and credit the corresponding amount to your
Account no later than the date on which the amount would have been value dated, had the
Transaction been correctly executed.
12.8. Where we are liable for the incorrect execution of a Payment, Credit Transfer or Standing
Order by you as payer, we shall, without undue delay, refund to you the amount of the non-
executed or defective Transaction, and, where applicable, restore the debited Account to
the state in which it would have been had the defective Transaction not taken place.
12.9. In the case of a non-executed or defectively executed Payment, Credit Transfer or Standing
Order by you as payer, we shall, regardless of whether we are liable, on request, make
immediate efforts to trace the Transaction and notify you of the outcome, free of charge. A
Payment initiated by or through a payee (e.g. a Merchant) shall be considered to be
unauthorised if you have not given your consent for the Payment to be made. If you believe
that a Payment has been made without your consent you should contact us in accordance
with Clause 2.
12.10. A claim for a refund of an authorised Payment initiated by or through a payee (e.g. a
Merchant) where the authorisation did not specify an exact amount of payment Transaction
(and the amount of exceeded the amount that you reasonably could have expected taking
into account your previous spending pattern, this Agreement and the circumstances of the
case), must be made within 8 weeks from the date on which the funds were deducted from
your Available Balance. Within 10 Business Days of receiving your claim for a refund or
within 10 Business Days of receiving further information from you, we will either refund the
full amount of the Transaction as at the date on which the amount of the Payment was
debited or provide you with justification for refusing the refund.
12.11. The right to a refund under this Clause 14 does not apply where you have given consent
directly to us for the Payment to be made and, if applicable, information on the Payment
was provided or made available to you by us or the payee in an agreed manner for at least
four weeks before the due date.
12.12. If you are not satisfied with the justification provided for refusing the refund or with the
outcome of your claim for a refund, you may submit a complaint to us or contact the
complaints authority as described in Clause 16.
12.13. If at any time we have incorrectly deducted money from your Available Balance, we shall
refund the amount to you. If we subsequently establish that the refunded amount had been
correctly deducted, we may deduct it from your Available Balance and may charge you a
Fee. If you do not have sufficient Available Balance, you must repay us the amount
immediately on demand.
12.14. Where any request, Transaction, disputed Transaction, arbitration or reversed Transaction
involves third party costs, you remain liable for these and they will be deducted from your
Account or otherwise charged to you.
15.3. Your consent will be sought for collection of your data and you have the right to agree or
decline. Where you decline consent for the collection and processing of your data we
reserve our right to discontinue service due to our obligations as a financial services
institution.
15.4. We may disclose or check your personal data with other organisations and obtain further
information about you in order to verify your identity and comply with applicable money
laundering and governmental regulations. A record of our enquiries will be left on your file.
15.5. We may pass your personal data on to third-party service providers contracted to PFS in the
course of dealing with your Account. Any third parties that we may share your data with are
obliged to keep your details secure, and to use them only to fulfil the service they provide
you on our behalf. Where we transfer the personal data to a third country or international
organisation, we ensure this is done securely and that they meet a minimum standard of
data protection in their country.
15.6. You have the right to receive information concerning the personal data we hold about you
and to rectify such data where it is inaccurate or incomplete. You have the right to object to
or withdraw any consent you have given for certain types of processing such as direct
marketing.
15.7. Your data will be retained for 6 years after the end of the provision of services to you, where
your data will be destroyed in compliance with the requirements of the General Data
Protection Regulation.
15.8. In the event that you wish to make a complaint about how your personal data is being
processed by us (or third parties as described in 17.5 above), or how your complaint has
been handled, you have the right to lodge a complaint directly with the supervisory
authority and PFS’s Data Protection Officer.
15.9. Our Privacy Policy provides full details on your rights as a data subject and our obligations as
a data controller. Please read this document carefully and ensure you understand your
rights.
17. Miscellaneous
17.1. We may assign or transfer our rights, interest or obligations under this Agreement to any third
party (including by way of merger, consolidation or the acquisition of all or substantially all of
our business and assets relating to the Agreement) upon 2 month’s written notice. This will
not adversely affect your rights or obligations under this Agreement.
17.2. Nothing in this Agreement is intended to confer a benefit on any person who is not a party
to it, and no such person has any right under the Contracts (Rights of Third Parties) Act 1999
to enforce any terms of this Agreement, but this Clause do not affect a right or remedy of a
third party which exists or is available apart from that Act.
17.3. Any waiver or concession we may allow you will not affect our strict rights and your obligations
under this Agreement.
17.4. This Agreement and the documents referred to in it, constitute the entire agreement and
understanding of the parties and supersede any previous agreement between the parties
relating to the subject matter of this Agreement.