Terms and Conditions of Sale and Use of VeraCarte, a Pre-paid Mastercard

1. Definitions and Interpretations

“Account”: a non-deposit non-interest bearing pre-paid electronic account associated with a Card and maintained for the sole purpose of enabling Transactions.

“Account Information Service Providers”: ‘AISP’, under PSD2 an ‘account information service’ is an online service which provides consolidated information on payment accounts held by a payment service user with payment service providers

“Additional Cardholder”: a person who holds an Additional Card. “Additional Pre-paid MasterCard”: any additional Card delivered at any time after a person opens registers an account.

“ATM”: an automated teller machine is an electronic telecommunications device that allows Customers to carry out financial transactions, especially cash withdrawals. Most ATMs identify the customer by reading the magnetic stripe or chip on the card (containing the card number and unique security information like the expiry date and the CVC2 or CVV) when the customer inserts it into the machine. The customer is authenticated when he/she inputs his/her personal identification number (PIN).

“Authorised”: the act of authorising the payment transfer by using the Card together with (i) the PIN Code or with (ii) the CVC Code and expiry date or with (iii) the signature of the Customer.

“Available Balance”: the value of unspent funds loaded onto your Account and available to use.

“BIC”: a Bank Identifier Code is a unique, standardised code managed by SWIFT that is used to identify individual banks and financial institutions worldwide, i.e. who they are and where they are located. This code is used for interbank transfers, including international transfers and SEPA payments.

“Business Days”: Monday to Friday, 9 am to 6 pm CET, excluding bank and public holidays in France.

“Card”: a physical device bearing electronically stored monetary value as represented by a claim against Prepaid Financial Services; and/or • a physical or digital mechanism providing access to an Account which is issued by Prepaid Financial Services for the purpose of enabling Transactions.

“Customer”: the person who has been issued at least one Card by us and/or who opened an Account with us. The Customer is legally and financially responsible for their Card(s) and/or Account.

“EEA”: the European Economic Area allows for the free movement of people, goods, services and capital within the internal market of the European Union (EU), amongst its 28 Member States and three of the four Member States of the European Free Trade Association (EFTA): Iceland, Liechtenstein and Norway.

“Customer Due Diligence”: level of Know Your Customer requirements where we must collect proof of identification and proof of residence of cardholders.

“E-money”: a monetary value equivalent to digital cash that is issued by an electronic institution and stored on an electronic medium which can be used to carry out payment operations.

“E-Wallet”: a payment account issued by Prepaid Financial Services to certain Customers – mainly corporate clients – used to receive funds to be loaded onto Cards and to manage the expenses associated with the Card programme.

“Fee”: any fee payable by the Customer relating to the payment services.

“IBAN”: an International Bank Account Number is part of a new international standard that was adopted as part of the SEPA (Single Euro Payments Area) Agreement. IBAN is an internationally certified system for identifying bank accounts in order to simplify communications and the processing of cross-border transactions with a reduced risk of transcription errors. It has been implemented in most European countries and in many others around the world.

“Know Your Customer”: ‘KYC’, personal due diligence checks as per Anti-Money Laundering regulatory requirements.

“Know Your Business”: ‘KYB’,due diligence checks on corporate entities, their directors and beneficial owners as per Anti-Money Laundering regulatory requirements.

“Limitation Period”: the period of six years following termination of this agreement.

“Merchant”: a retailer or any other person that accepts e-money via a merchant account with a buyer or a payment service provider.

“Payment Services”: all payment and e-money services and any related services available to the Customer through the use of the Account and/or Card.

“Payment Services Directive 2”: ‘PSD2’, means EU DIrective 2015/2366 relating to payment services as amended or replaced from time to time and transposed into law as the Payment Services Regulation 2017.

“Payment Initiation Service Provider”: ‘PISP’, is a party which initiates a payment order requested by you, in relation to your account held at a Payment Service Provider.

“SDD”: Standard Due Diligence, a means of self-certification for the registration of personal data associated with a Card or an Account. SDD Cards are subject to lower specified annual limits on loading and ATM withdrawals than KYC Cards and Accounts.

“SEPA”: Single Euro Payments Area, a European Union integrated payment initiative designed to simplify the bank transfer process.

“SWIFT”: Society for Worldwide Interbank Financial Telecommunication, which provides a network that enables financial institutions around the world to send and receive information on financial transactions in a secure, standardised, reliable environment.

“System and Schemes”: the Scheme being Mastercard as shown on your Card; Systems being the processor.

“Transaction”: realising or attempting to make a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of the Account, including where payment is made over the internet, by phone or mail order.

“Virtual Account”: a non-physical pre-paid account, the use of which is limited to purchases made online or on the phone or by mail order, after having pre-loaded it with funds.

“We”, “us” or “our”: Prepaid Financial Services as the licensed e-money issuer.

“You” or “your”: the Customer and/or any person who has been provided with a Card by the Customer for use as an Additional Cardholder in accordance with these Terms and Conditions.

2. Contact Us

Your Card(s) and your Account can be managed online at www.veracash.com or by email sent to contact@veracash.com or by calling +33 (0)1 80 88 61 00. You can report a lost or stolen Card by calling +33 (0)1 80 88 61 00 or sending an email to contact@veracash.com. At any time during the contractual relationship, you shall have the right to receive, on request, these terms and conditions free of charge.

3. Your Agreement with Us

3.1. The issuer for your Pre-paid MasterCard is Prepaid Financial Services Ltd (PFS), a payment service provider. PFS is a registered company in England and Wales. Our Company Registration Number is 6337638. Our Registered Office is located at: 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT.

3.2. PFS is licensed and regulated by the Financial Conduct Authority (FCA) as an authorised electronic money institution under number 900036.

3.3. Details of our authorisation licence by the Financial Conduct Authority are available on the public register at https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000m4IX9AAM.

3.4. Prepaid Financial Services Ltd is the programme issuer.

3.5. VeraCash, which is registered with the Bordeaux Trade and Companies Register (RCS) under number 808689657, is the programme manager.

3.6. Prepaid Financial Services Ltd is licensed by the System as a principal operator. MasterCard is a registered trademark of MasterCard International Incorporated.

3.7. These terms and conditions govern the relationship between us and you for the provision of the Payment Services by us to you. This agreement also contains important warnings and information that may affect your rights and your ability to recover your money. By activating your Account, you shall be deemed to have accepted and fully understood the terms and conditions set out in this agreement. Your use of the Card and/or your Account will constitute your acceptance of these terms and conditions.

3.8. Your Card is not a credit card and is not issued by a credit institution. Regardless of the type of Card(s) you have, you will have only one Account where your Available Balance is located.

3.9. Your Card will not be activated unless we have been provided with the required information so that we may identify you and can comply with all applicable KYC and anti-money laundering requirements. We shall keep records of such information and documents in accordance with all applicable legal and regulatory requirements. Reference to a currency (e.g. Euros €) shall mean that amount or the local currency equivalent in which your Card is denominated.

3.10. The Available Balance on your Card and/or Account will not earn any interest.

3.11. Your Account is a pre-paid e-money Account and not a credit or bank product; you must therefore ensure that you have a sufficient Available Balance to pay for each purchase, payment or cash withdrawal that you make using your Card (including value added tax and any other taxes, charges and fees that are applicable). If for any reason a Transaction is processed and the Transaction amount exceeds the Available Balance, you must repay us the amount of such excess immediately and we shall be entitled to stop any existing or subsequent Transactions from proceeding.

3.12. This agreement does not give you any rights against the System, its affiliates or any third party.

3.13. This Agreement does not give you any rights against the Systems and or Schemes, its affiliates or any third party.

3.14. Only persons ages 18 and over are entitled to register for the Payment Services.

4. Service Limits

4.1. 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 rights to change particular payment restrictions (including from those published or included herein) without notice and to the extent required to protect your Account and meet our regulatory obligations.

4.2. You can use your SDD Card to make cash withdrawals from national ATM, within the loading and withdrawal limits that are capped based on the maximum amount defined by the operator in accordance with regulatory requirements.

4.3. For any transfers made on your Account, we recommend that the funds should be sent by SEPA transfer to the IBAN for your personal account. It is your responsibility to first check that the option is available as this is out of our control.

4.4. We cannot be held responsible for the payment process or the fees charged by your bank(s) and/or their corresponding bank(s) for transfers that you make to PFS. Before crediting the remaining balance to your Account, we will deduct any fees charged to us, including fees associated with receiving, processing or crediting a payment.

4.5. You are required to verify and confirm the payment references and the charged fees before making a payment to us.

4.6. PFS will credit any payments received on your Account at least once a day, before the end of the current Business Day (Monday to Friday only). Payments received after the end of the Business Day will be processed the following Business Day and PFS will not be liable for that delay.

4.7. E-Wallet Accounts assigned to corporate clients are subject to KYB approval. The received funds are automatically credited to the company’s E-Wallet Account.

4.8. PFS reserves the right to suspend the E-Wallet Payment Service in the event of abuse.

4.9. Corporate clients must send proof of the source of their funds so that we may fulfil our regulatory obligations.

4.10. You can change your PIN number at an ATM. A fee may apply to this operation.

5. Use of the Services

5.1. You can use your Card up to the amount of the Available Balance for Transactions at Merchants of the relevant System. If the Available Balance is insufficient to pay for a Transaction, some Merchants will not permit you to combine use of a Card or Account with other payment methods.

5.2. The value of each Transaction and the amount of any Fees payable by you under this agreement will be deducted from the Available Balance.

5.3. Once a Transaction is authorised it cannot be withdrawn. Within the EEA, we will ensure transfer of the payment to the payment service provider of the Merchant within three Business Days. If the payment service provider of the Merchant is located outside the EEA, we will effect payment as soon as possible.

5.4. In order to protect you and us from fraud, Merchants will seek electronic authorisation before processing any Transaction. If a Merchant is unable to get an electronic authorisation, they will be compelled to cancel your Transaction.

5.5. We may refuse to authorise any use of your Card which could breach these terms and conditions. If we have reasonable grounds for suspecting that you or a third party has committed or is planning to commit fraud or any other illegal or unauthorised use of the Payment Services, we will be entitled to suspend any suspicious Transactions.

5.6. Your ability to use or access your Account may occasionally be interrupted, for example if we need to carry out maintenance on our systems. Please contact Customer Services via our website to notify us of any problems you are experiencing using your Card and we will endeavour to resolve any problem as quickly as possible.

5.7. You (the Customer) will remain responsible for the use of the Card and the Account, and for any Fees incurred by the Additional Cardholder(s), and you will continue to be regarded as the holder of any electronic funds already or subsequently loaded on the Account. The use of an Additional Card will be regarded as confirmation and explicit acceptance of these terms and conditions by the Customer and the Additional Cardholder.

6. Access by Third Party Providers

6.1. You may consent to regulated third party providers (PISPs or AISPs) accessing your account online to make payments or obtain information about balances or transactions on your card and/or account.

6.2. The PISPs and/or AISPs must be appropriately registered and authorised in accordance with PSD2. You should check with the regulatory authority of the relevant country before giving consent.

6.3. Any consent you give to a third-party provider is an agreement between you and it, we will have no liability for any loss whatsoever, as a result of any such agreement.

6.4. Before giving consent, you should satisfy yourself as to what degree of access you are consenting to, how it will be used and who it may be passed on to.

6.5. You should make yourself aware of any rights to withdraw the consent of access from the third party and what process they have in place to remove access.

6.6. To the extent permitted by law or regulation and subject to any right to refund you may have under this Agreement, between you and us, we are not responsible for any actions that the relevant third party takes in relation to suspending or terminating your use of their service or for any resulting losses. We are also not responsible for, or a party to, any agreement that you enter into with any relevant third party. You should make sure that you read and comply with such agreement or other applicable policies and note that this Agreement will continue to apply including any services and our fees as stated.

6.7. Where appropriate, we may deny access to your account, for any third party where we consider it to be a risk of money laundering or terrorism financing, fraud or other criminal activity. Should we need to take these actions and where possible, we will give reasons for doing so unless restricted by law or for internal security reasons.

7. Conditions of Use at Certain Merchants

7.1. In some circumstances, we or Merchants may require you to have an Available Balance in excess of the Transaction amount. For example, at restaurants you may be required to have 15% more on your Card than the value of the bill to allow for any gratuity or service charge added by the restaurant or you.

7.2. In other circumstances, Merchants may require verification that your Available Balance will cover the Transaction amount and initiate a hold on your Available Balance in that amount (examples include rental cars). In the event a Merchant places a pre-authorisation on your Account, you will not have access to these funds until the Transaction is completed or released by the Merchant which may take up to 30 days.

7.3. If you use your Card at a fuelling station, subject to Merchant acceptance, your Card will need to be pre-authorised for a pre-determined amount. If you do not use the whole pre-authorisation or do not have a sufficient Available Balance to obtain a pre-authorisation, it is possible that the pre-authorised amount will be held for up to 30 days before becoming available to you again.

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

8. Managing & Protecting Your Account

8.1. You are responsible for your Card (username, PIN number and Account passwords). Do not share your Card or Account security details with anyone.

8.2. You must keep your Account PIN, username and password safe, and separate from your Card or any record of your Card number and not disclose them 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; and IV. not disclosing your PIN to any person, except that you may disclose the PIN orally (but not in writing) to a person authorised (by clause 5.8) to use your Card or Account.

8.3. The user(s) of the Card(s) must sign the signature strip on any personalised Card immediately when received.

8.4. If you forget your PIN, you can retrieve it at any time by SMS. Simply send a text message to +44 <with last 8 digits of your card.

8.5. The Card may only be used by its Cardholder.

8.6. Only the Customer or the Additional Cardholder may use the Card. You must not allow any other person to use it. You must keep the Card in a safe place.

8.7. Failure to comply with clause 8.2 may affect your ability to claim any losses in the event that we can show that you have intentionally failed to keep the information safe or you have acted fraudulently, with undue delay or with gross negligence. In all other circumstances, your maximum liability shall be as set out below at clause 14.

8.8. If you believe that someone else knows your Account or Card security details, you should contact us immediately.

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

9. Identity Verification

9.1. If you enter into Transactions over the internet, some websites require you to enter your name and address. In such cases, you should supply the most recent address which has been registered with us as the Account address. The Account address is also the address to which we will send any correspondence.

9.2. The Customer must notify us within seven (7) days of any change in the Account address or your other contact details. You can notify us by updating your profile online or by contacting Customer Services who will ask 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 gross negligence, fraud or any other unlawful activity. We will need to verify your new Account address and shall request the relevant proofs from you.

9.3. For security reasons and for the purposes of preventing fraud and/or money laundering, we reserve the right at any time to satisfy ourselves as to your identity and the Account address (for example, by requesting relevant original documents providing your address). In addition, from the time when your new Account is created, you authorise us to perform electronic identity verification checks directly or using relevant third parties.

9.4. The Cards are issued in accordance with regulatory limits and conditions. Full Card and usage limits can be found on our website.

10. Cancelling Services

10.1. If you are the Customer and you wish to cancel the Payment Services at any time, you must request cancellation online by informing us of your wish to cancel and to claim a refund of your unused funds by emailing us as specified in section 2 above. You must email us from the email address you provided when registering your Account. Our Customer Services department will then suspend all further use of your Card.

10.2. Once we have received all the necessary information from you (including KYC) and all Transactions and applicable Fees have been processed, we will refund to the Customer any Available Balance less any Fees for termination payable to us, provided that: I. you have not acted fraudulently or with gross negligence; and II. we are not required to withhold your Available Balance by law or regulation, or at the request of the police, a court or any regulatory authority.

10.3. Once the Payment Services have been cancelled, it will be your responsibility to destroy your Card(s) by cutting them in half through the magnetic stripe.

10.4. If, following reimbursement of your Available Balance, any further Transactions are found to have been made or Fees incurred using the Card(s), or if we receive a reversal of any prior funding transaction, we will notify you of the amount and you must immediately repay to us such amount on demand as a debt.

11. Right to Cancel (“Cooling-Off”)

11.1. You have a right to withdraw from this agreement under the following conditions: where you purchased your Card by mail order, internet, fax, digitally or by email, then you have a “cooling-off” period of fourteen (14) days, beginning on the date of that order, to withdraw from this agreement and cancel the Payment Services, the Card(s) and the Account, without any penalty but subject to deduction of any reasonable costs incurred by us in the performance of any part of the provision of services before you cancel. You must contact us within this fourteen (14) day period and inform us that you wish to withdraw from this agreement and you have not made any use of the Card. Proof of the means you used to obtain the Card must be attached to the withdrawal request. We will then cancel the Card and reimburse the amount of the Available Balance on the Account to the Customer’s personal account. However, we reserve the right to hold your Available Balance for up to thirty (30) Business Days from receipt of your instructions before returning the balance, to ensure that all pending Transactions are covered.

11.2. After the cooling-off period, i.e. more than fourteen (14) days after your purchase of the Card, you may only cancel the Payment Services as described in clause 10 above.

12. Expiry & Redemption

12.1. Your Card has an expiry date printed on the back. The funds on your Account will no longer be usable following the expiry date of the most recent Card that was issued under the Account.

12.2. The Payment Services and this agreement shall terminate on that Card’s expiry date unless you request a replacement Card prior to the expiry date in accordance with clause 13.4 or unless we otherwise agree to continue providing Payment Services to you following the expiry date.

12.3. You may not use your expired Card(s) after their expiry date(s).

12.4. If a Card expires before your Available Balance is exhausted, you can contact Customer Services to request a replacement Card, provided you do so fourteen (14) days before the expiry date and subject to payment of a Fee (where applicable).

12.5. Notwithstanding any expiry date, your funds are available for redemption by contacting us at any time before the end of the Limitation Period. After the Limitation Period, your funds will no longer be redeemable to you.

12.6. Provided that your request for redemption is made less than twelve (12) months following the expiry date, redemption will not incur any Fee for late redemption. In the event that you make a request for redemption more than twelve (12) months after the expiry date and before the end of the Limitation Period, a Fee for account closure may be charged.

12.7. We reserve the right to issue you with a replacement for an expired Card even if you have not requested one. If you have not requested a replacement Card, you will not be charged a Fee for Card replacement.

12.8. We shall have the absolute right to set off, transfer, or apply sums held in the Account(s) or Cards in or towards satisfaction of all or any liabilities toward one or more third parties and all or any Fees owed to us that have not been paid or satisfied when due.

13. Termination or Suspension of Your Account

32.1. We may terminate your use of the Payment Services with prior notice of at least two (2) months.

13.2. Your use of your Card will be terminated following the expiry date in accordance with clause 12.2.

13.3. We may terminate or suspend, for such period as may reasonably be required, your use of the Payment Services at any time, without prior notice, in the following instances: I. in the event of any fault or failure in the data processing system; II. if we reasonably believe that you have used or are likely to use your Card, or allow it to be used by a third party, in breach of this agreement; III. if any Available Balance may be at risk of fraud or misuse; IV. if we suspect that you have provided false or misleading information; or V. by order or recommendation of the police or any relevant administrative or judicial authority.

13.4. If any Transactions are found to have been made or charges or Fees incurred using your Card after any action has been taken by us under clause 13.1, the Customer must immediately repay such amounts to us.

14. Loss or Theft of Your Card

14.1. You are responsible for protecting your funds as if they were cash.

14.2. You should treat your funds like cash in your wallet and look after them accordingly. If you lose your Card or it is stolen, you may not be able to recover the funds on your Account, in just the same way as you would usually not be able to recover cash which you lose or which is stolen from you.

14.3. If your Card is lost or stolen or if you think someone is using the Payment Services without your permission, or if your Card is damaged or malfunctions: I. you must contact us as soon as possible and you must provide us with your Account or Card number and either your username and password or some other identifying details acceptable to us (like the answer to your security question) so that we can be sure we are speaking to you; and II. provided we have obtained the Customer’s consent to close the Account, we will then provide the Cardholder with a replacement Card with a corresponding new Account loaded with an amount equivalent to your last Available Balance.

14.4. You will be liable up to a maximum of the first 50 €/£35 of losses arising from any unauthorised Transactions that take place prior to your notifying us of the loss or theft (whether or not these were carried out with your permission). If our investigations show that any disputed Transaction was authorised by you, or that you have acted fraudulently or with gross negligence (for example by failing to keep your PIN secure), we may reverse any refund made and you may be liable for any loss we suffer because of the use of your Pre-paid Card. You will not be held liable for any losses once you have notified us of loss or theft of your Card, unless we reasonably determine that you have acted in accordance with clause 15.1.II. – in which case you shall be liable for all losses.

14.5. Once we have been notified of any loss or theft, we will suspend the Payment Services as soon as we are able, to limit any further losses. We can only take steps to prevent unauthorised use of the Payment Services if you can provide us with the Account or Card number and your username and password, or if you can produce sufficient details to securely identify yourself and the relevant Account with certainty.

14.6. Replacement Cards will be posted to the most recent Account address registered by the Cardholder. Failure to provide the correct address will result in a Card replacement Fee.

14.7. If you subsequently find or retrieve a Card that you have reported lost or stolen, you must immediately destroy the found Card by cutting it in half through the magnetic stripe. 13.8. You agree to help us, our agents, the regulatory authorities and the police if your Card is lost or stolen or if we suspect that the Card is being used in a questionable and/or fraudulent way.

15. Our Liability

15.1. To the fullest extent permitted by relevant law, and subject to clause 15.4, our total liability under or arising from this agreement shall be limited as follows: I. neither party shall be liable to the other for loss or damage (including without limitation loss of business, profits or revenues), incurred in connection with this agreement, whether arising in contract, tort (including negligence), breach of statutory duty or otherwise; II. we shall not be liable: a. if you are unable to use the Card or understand the wording hereof, or for any reason stated in clauses 4 and 10, b. for any fault or failure beyond our control relating to the use of the Card, including but not limited to a lack of Available Balance or a fault in or failure of the data processing systems, c. for any loss, fault or failure relating to the use of a Third-Party Provider as stated in clause 6.3, 6.6 and 6.7 of this Agreement, d. if a Merchant refuses to accept a Transaction or fails to cancel an authorisation or pre-authorisation, e. for the goods or services that are purchased with your Card, f. for any loss, fraud or theft that is reported more than eight (8) weeks following the event, or f. where you or an Additional Cardholder acted with unduly delay, fraudulently or with gross negligence (including where losses arise due to your failure to keep us notified of your correct personal details).

15.2. To the fullest extent permitted by relevant law, and subject to clause 14.4, our total liability under or arising from this agreement shall be limited as follows: I. where your Card is faulty due to an error on our part, our liability shall be limited to replacement of the Card or, at our choice, repayment to you of the Available Balance; II. where sums are incorrectly deducted from your Available Balance due to our fault, our liability shall be limited to payment to you of an equivalent amount; and III. for any other fault by us, our liability will be limited to the amount of the Available Balance.

15.3. In all other circumstances of our default, our liability will be limited to repayment of the amount of the Available Balance. Nothing in this agreement shall exclude or limit either party’s liability in respect of death or personal injury arising from that party’s negligence or fraudulent misrepresentation.

15.4. No party shall be liable for 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.

16. Refunds for Transactions

16.1. If you believe that your Available Balance has been debited without your consent, you should contact us as quickly as possible in accordance with clause 2.

16.2. A claim for a refund of an unauthorised Transaction must be made within eight (8) weeks from the date on which the funds were deducted from your Available Balance. Within ten (10) Business Days of receiving your claim for a refund, we will either refund the full amount of the Transaction or provide you with justification for refusing the refund.

16.3. 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.

16.4. 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.

17. Dispute Resolution

17.1. We are committed to providing an excellent customer experience for all our Customers. If we do not meet your expectations in any way, we want to have the opportunity to put things right.

17.2. In the first instance, your initial communication will be with our Customer Services Team who can be contacted by Email to contact@veracash.com.com or by phone to +33 (0) Customer Services Team will listen to your needs and will do their best to solve your issue promptly and fairly. We value the opportunity to review the way we do business and help us meet our customers’ expectations.

17.3. If having received a response from our Customer Services Team you are unhappy with the outcome, please contact the Complaints Team of Prepaid Financial Services Ltd, 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT in writing via email on complaints@prepaidfinancialservices.com.

17.4. Once received, the Complaints Team will conduct an investigation and you will receive a response of its findings within 15 days of receipt of the complaint. In exceptional circumstances where we are unable to reply within the first 15 days, we will reply providing a reason for the delay and deadline for response, not more than 35 days after first receipt of complaint.

17.5. If the Complaints Team is unable to resolve your complaint and you wish to escalate your complaint further, please contact the Financial Ombudsman Service at South Key Plaza, 183 Marsh Wall, London, E14 9SR. Details of the service offered by the Financial Ombudsman Service are available at http://www.financialombudsman.org.uk/consumer/complaints.htm  or  alternatively you can lodge your complaint in your country of domicile with the Online Dispute Resolution process at https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home.show&lng=EN

17.6. You must provide us with all receipts and information that are relevant to your claim.

18. Personal Data

18.1. We are the data controller for your personal data and will process personal data given to us in connection with your Account in order to administer your Account and provide you with services relating to the Account and this agreement. We may also use your personal data for marketing and promotional purposes, in accordance with applicable legislation and our Privacy Policy.

18.2. We may check your personal data with other organisations, and obtain further information about you in order to verify your identity and comply with applicable governmental regulations on money laundering. A record of our enquiries will be left on your file. We may provide personal data supplied by you to certain named third parties (including technical service providers) for the purpose of performing our obligations and exercising our rights under this agreement, including third parties located outside the European Union where different data protection standards may apply. We may also disclose your personal data as required by law or any competent authority.

18.3. By agreeing to these terms and conditions, you acknowledge and agree to our processing of your personal data in this way.

18.4. 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.

18.5. You have also seen our Privacy Policy document and acknowledge and agree to the provisions thereof (as amended from time to time).

18.6. If you have elected to opt in to receive email and SMS marketing, we may share your information with third parties so they can contact you directly by telephone or email about their products and services.

19. Changes to the Terms and Conditions

We may update or amend these terms and conditions (including our Fees & Limits Schedule). Notice of any changes will be given on the website or by notification by email or by any other means at least two (2) months in advance. By continuing to use the Payment Services after the expiry of the two (2) month notice period, you acknowledge that you indicate your acceptance to be bound by the updated or amended terms and conditions. If you do not wish to be bound by them, you should stop using the Payment Services immediately in accordance with our cancellation policy (see clause 10).

20. Miscellaneous

20.1. We may assign our rights, interest or obligations under this agreement to any third party (including by way of merger, consolidation or the acquisition of all or substantially all of our business and assets relating to this agreement) upon two (2) month’s written notice. This will not adversely affect your rights or obligations under this agreement.

20.2. We do not intend that any of the terms of this agreement will be enforceable by a person not a party to it, except that the System and its affiliates may enforce any right granted to them under this agreement.

20.3. Any waiver or concession we may allow you will not affect our rights or your obligations under this agreement.

20.4. The Customer and any Additional Cardholders agree that they will not use the Payment Services in an illegal manner and you agree to indemnify us against any claim or proceeding brought about by such illegal use of the Payment Services.

20.5. This agreement and the documents referred to in it constitute the entire agreement and understanding of the parties and supersede any previous agreement between the parties relating to the subject matter of this agreement.

21. Funds Protection

Your funds are safeguarded by law. In the event that Prepaid Financial Services Ltd becomes insolvent, your e-money funds are protected against claims made by any other creditors.

22. Regulation and Law

22.1. The Payment Services, Cards and Account are payment products and not deposit, credit or banking products; as such they are not covered by the Financial Services Compensation Scheme.

22.2. To the fullest extent permitted by law and without affecting your legal rights as a consumer, this agreement and any dispute or claim arising out of or in connection with it (including non-contractual disputes and claims) shall be governed by, and construed in accordance with, the laws of England & Wales and the courts of England & Wales shall have exclusive jurisdiction in relation to the same.