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Weather Warning.

Please be advised that the Irish Government has now issued a Status Red snow and ice alert and has recommended that businesses close to ensure people can get home safely. This alert is staying in place until the weekend. We have therefore taken the decision to close our Irish office, including the Call Center and will not be reoponing it until 8am Monday, 5th March.

Terms and Conditions

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IMPORTANT INFORMATION: These are the terms & conditions of the agreement between us, Prepaid Financial Services Ltd, 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT and you, the Customer entering into the agreement (“this Agreement”). Please read this Agreement carefully before activating or using your card or account. The terms of this Agreement and fees shall apply to all Customers. Activation of your card is deemed as your acceptance of this agreement. The term of this agreement is from activation of your card to the expiry date of your card, unless otherwise stated in the conditions of this agreement.

1. Definitions & Interpretation

the Single Euro Payments Area (SEPA) is a payment integration initiative of the European Union to help simplify the process of bank transfers;
"Account" a non-deposit non-interest bearing pre-paid electronic account associated at times to a Card which is 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 Prepaid Cardholder" where applicable a person who holds a Secondary Card;
"Anonymous Prepaid Card " a prepaid non-personalised card that can be used subject to specified Card limits on loading, transactions and redemption;
"Authorised" act of authorising a Transaction 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 Cardholder;
“ATM” An automated teller machine is an electronic telecommunications device that enables Customers to perform financial transactions, particularly cash withdrawal, without the need for a human cashier, clerk or bank teller. Most ATMs identify the Customer by the Customer inserting the Card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and security information such as an expiration date or CVC2 or CVV. Authentication is provided by the customer entering a personal identification number (PIN);
"Available Balance" the value of unspent funds loaded onto your Account and available to use;
“BIC code(s)” Bank Identifier Code means a standard format code managed by SWIFT now called Business Identifier Codes (BIC) which is used to uniquely identify banks and financial institutions globally - it who and where they are. This code is used when transferring money between banks, in particular for international wire transfers or SEPA payments;
“Business Day" Monday to Friday, 0900hrs to 1700hrs GMT, excluding bank and public holidays in the UK;
"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 applied successfully for a Payment Service and who has been issued at least one Card by us for Card payments or IBAN account details. The Customer is the legally and financially responsible person to whom we provide the Payment Services;
“SEPA Transfer Payment (STP)” A facility available for UK registered Accounts only whereby an instruction from Customer is sent to Prepaid Financial Services, authorising an organisation you wish to pay, to collect varying amounts from your account at periodic intervals;
“EEA” The European Economic Area provides for the free movement of persons, goods, services and capital within the internal market of the European Union (EU) between its 28-member states, as well as three of the four-member states of the European Free Trade Association (EFTA): Iceland, Liechtenstein and Norway;
“E-money” Electronic money is monetary value, the digital equivalent of cash, issued by an e-money institution and stored on or allocated to an electronic device issued and usable for payments;
“E-Wallet” A payment account issued by Prepaid Financial Services in favour of certain Customers, mostly corporate, permitting the receipt of funds for the loading of Cards and manage Card program related expenses;
“Fee” the price paid by you for the Payment Services;
“IBAN” An IBAN, or International Bank Account Number is part of a new international standard that has been adopted as part of the SEPA (Single Euro Payments Area) agreement. IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors. It has been implemented by most European countries and many countries in the other parts of the world;
“Know Your Business”(KYB) Know Your Business due diligence checks on corporate entities, their directors and beneficial owners as per Anti-Money Laundering regulatory requirements;
“Know Your Customer” (KYC) personal due diligence checks as per Anti-Money Laundering regulatory requirements;
"Limitation Period" Where applicable means the period of 6 years following termination of this Agreement;
"Merchant" a retailer or any other person that accepts e-money by virtue of a Merchant account with an acquirer or a payment services provider;
"Payment Services" means 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;
“SEPA” the Single Euro Payments Area (SEPA) is a payment integration initiative of the European Union to help simplify the process of bank transfers;
“Simplified Due Diligence”(SDD) a means of self-certification for the registration of personal details associated with a Card or Account. SDD Cards are subject to lower annual load and ATM limits;
“SWIFT” The Society for Worldwide Interbank Financial Telecommunication provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardised and reliable environment;
"Secondary Prepaid Mastercard Card" where applicable any secondary card which is issued to an additional person any time after the successful registration of a Primary card or Account;
"Systems and Schemes" the Scheme being Mastercard or Visa as shown on your Card or Account; Systems being the processor;
"Transaction" realising or attempting to make: (i) a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of the Payment Services, including where payment is made over the internet or by phone;
“Virtual Account” A prepaid Virtual Account issued by us enabling you to make Card-not-present (CNP) transactions after sufficient funding of the Virtual Account;
"we", "us" or 'our" Prepaid Financial Services Limited as the e-money issuer and regulated entity;
"you" or "your" The Customer and/or any person or third-party provider authorised by you, for use in accordance with these Terms and Conditions.

2. Contact Us

Your Card or Account can be managed online at, via email to [email protected] or by phone to +44 (0) 207 125 0321. To report your Card lost or stolen please contact us immediately.

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 Prepaid Financial Services Prepaid Mastercard Card and provider of the Payment Services is Prepaid Financial Services Limited (PFS). PFS is registered in England and Wales under Company Registration Number is 6337638. Registered Office: 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT.
3.2. PFS is authorised and regulated as an e-money issuer by the Financial Conduct Authority registration number 900036.Details of the PFS authorisation licence by the Financial Conduct Authority is available on the public register at
3.3. Prepaid Financial Services Limited acts as the programme issuer.
3.4. Prepaid Financial Services Limited is licensed as a principal member with the Mastercard Scheme. Mastercard is a registered trademark of Mastercard International Incorporated.
3.5. These terms and conditions govern the relationship between us and you for the provision of the Payment Services by us to you. This Agreement also contains important information that may affect your ability to recover your money. By activating your Account, you shall be deemed to have accepted and fully understood the terms and conditions set out in this Agreement and you agree to comply with these by your use of the Card and/or by indicating your acceptance.
3.6. Your Card is not a credit card and is not issued by a bank. Regardless of the type of Card(s) you have, you will have only one Account where your Available Balance is located.
3.7. Your Payment Services may not be activated unless we have been provided with the required information so that we may identify you and can comply with all applicable KYC and anti-money laundering requirements. We shall keep records of such information and documents in accordance with all applicable legal and regulatory requirements.
3.8. You may reload subject to the limits provided by the Fees & Limits Schedule. We reserve the right to vary these limits and to decline any Reload at any time. A Reloading Fee applies.
3.9. Any Transaction on your Card in a currency other than the currency in which your Card is denominated, will require a currency conversion using a foreign exchange rate, which will be deducted from your account. The exchange rate will change from time to time and is available on our website
3.10. The Available Balance on your Card and/or Account will not earn any interest.
3.11. The Payment Services are prepaid payment services and not a credit or bank product, you must therefore ensure that you have a sufficient Available Balance to pay for each purchase, payment that you make using the Payment Services (including value added tax and any other taxes, charges and fees that are applicable). If for any reason a Transaction is processed, and the Transaction amount exceeds the Available Balance, you must repay us the amount of such excess immediately and we shall be entitled to stop any existing or subsequent Transactions from proceeding.
3.12. This Agreement does not give you any rights against the Systems and or Schemes, its affiliates or any third party.
3.13. Only persons over 18 years of age are entitled to register for the Payment Services. However, if you are the Customer you may allow the Payment Services to be accessed by a person for whom you are legally responsible who is under 18 years of age in accordance with 5.10. Transactions by persons under 18 years of age may not be allowed by some Merchants. In all cases, you shall be responsible for any use of the Payment Services by such persons.

4. Service Limits

4.1. Transactions may be restricted by Card or Account 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 meet our regulatory obligations.
4.2. Simplified Due Diligence may be restricted to domestic ATM access, along with reduced annual maximum load limits and capped annual withdrawal limits. These limits will be subject to Scheme and regulatory requirements.
4.3. When sending funds to your account with us, we recommend that senders use the SEPA transfer payment method to send funds to your individual account associated IBAN. If this is not an available option, you are responsible for checking all of the details and references when sending funds as we will not be responsible to do so or for any delays caused by this.
4.4. We cannot be held liable for the payment process or fees associated with bank(s) and or intermediary bank(s) to process payments from you to us. Any fee(s) charged to us, not limited to receiving, processing or crediting a payment for you will be deducted by us before crediting the remaining balance to you.
4.5. You are responsible for checking and confirming payment details and fees before making a payment to us.
4.6. PFS will credit payments received to your account at least once a day and before the end of the Business Day. Payments received after the cut off period will be processed the next Business Day and you will hold PFS free and clear from any responsibility is this regard.
4.7. E-Wallets accounts that are allocated to corporate clients are subject to KYB approval. Funds will be received and automatically credited to the E-Wallet corporate account.
4.8. PFS reserve the right to suspend the E-Wallet service for misuse.
4.9. Corporate clients will be responsible for sending PFS evidence of source of funds in order for us to meet our regulatory requirements.
4.10 Where so enabled you may change your PIN at select ATM’s subject to a Fee.
4.11 Where enabled, you may be eligible to instruct companies to create regular Direct Debits from your UK issued and registered Account. You will be responsible for ensuring that the correct details are provided in order for the STP to be created for you. You must ensure at all times, that you have a sufficient balance on your account to allow for the funds to be debited from your account. You are responsible for checking the terms and conditions that have been provided to you by the STP originator. PFS reserve(s) the right to decline or terminate any STP instruction(s) that you have requested.
4.12 You may incur a charge for unpaid STPs if there are not enough funds in your account to pay an incoming STP request
4.13 You accept responsibility for cancelling any STP on your Account with the originator directly. PFS will not be able to do this on your behalf and cannot accept liability for any losses due to late or non-cancellation

5. Use of the Services

5.1. You may access your account information by logging into your account through our website. From here you will be able to view details on your Transactions, including dates, currencies, charges or exchange rates applied. This information is accessible at any time and can be stored and reproduced as necessary.
5.2. You can use the Payment Services up to the amount of the Available Balance for Transactions at Merchants of the relevant System up to the amount of the balance. 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.
5.3. The value of each Transaction and the amount of any fees or charges payable by you under this Agreement will be deducted from the Available Balance.
5.4. Once a Transaction is authorised, it may not be withdrawn (or revoked) by you after the time it is received by us. A transaction will be deemed to have been received by us at the time you authorise the transaction as follows:

i. for purchases and ATM transactions, at the time we receive the transaction instruction from the merchant acquirer or ATM operator, and
ii. for other transactions which are communicated directly to us, at the time you ask us to complete the transaction
5.5. Where a revocation of an authorised payment is agreed between us and you, we may charge a fee for revocation.
5.6. 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.
5.7. 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 may not be able to authorise your Transaction.
5.8. We may refuse to authorise any use of the Payment Services which could breach these terms and conditions or if we have reasonable grounds for suspecting that you or a third party have committed or are planning to commit fraud or any other illegal or un-permitted use of the Payment Services.
5.9. Your ability to use or access the Payment Services may occasionally be interrupted, for example if we need to carry out maintenance on our Schemes. Please contact Customer Services via our website to notify us of any problems you are experiencing using your Card or Account and we will endeavour to resolve any problem.
5.10. Where applicable, you may apply to us for up to 3 Secondary Cards, for use by Additional Cardholders on your account. Additional Cardholders for whom you are legally responsible must be 13 years of age or older. All other Additional Cardholders must be 18 years of age or older. It is a condition of any registration for a Secondary Card that you, as the Customer, acknowledge that we accept no responsibility or liability of any kind whatsoever for use of any Secondary Card by any Additional Cardholder for Transactions not authorised by you. If you successfully register, we will send you a Secondary Card, for which we will charge an Additional Card Fee. Upon receipt of the Secondary Card, you may give the Secondary Card to the Additional Cardholder for their use, subject to:

i. you providing them with a copy of these terms and conditions (which will then bind use by both of you);
ii. the Secondary Card must only be used by that person;
iii. you retaining the Primary Card;
iv. you informing the Additional Cardholder that you have retained the Primary Card and that you are still able to use the Account;
v. us obtaining such further information and documentation in order to enable us to comply with all applicable KYC and anti-money laundering requirements.
5.11. You will remain responsible for the use of the Payment Services, and for any fees and charges incurred by the Additional Cardholder(s), and you will continue to be regarded as the holder of any funds already or subsequently loaded on the Account. The use of a Card in relation to which an Additional Cardholder has been registered will be regarded as confirmation that you have provided the Additional Cardholder with these Terms and Conditions.

6. Condition of Use at Certain Merchants

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. Managing & Protecting Your Account

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 some circumstances Merchants may require verification that your Available Balance will cover the Transaction amount and initiate a hold on your Available Balance in that amount, examples include rental cars. In the event a Merchant places a pre-authorisation on your Account, you will not have access to these funds until the Transaction is completed or released by the Merchant which may take up to 30 days.
7.3. If you use your Card at an automated fuelling station, subject to Merchant acceptance, your Card may need to be pre-authorised for a pre-determined amount in the relevant currency. If you do not use the whole pre-authorisation or do not have Available Balance to obtain a pre-authorisation, it is possible that the pre-authorised amount will be held for up to 30 days before becoming available to you again.
7.4. Some Merchants may not accept payment using our Payment Services. It is your responsibility to check the policy with each Merchant. We accept no liability if a Merchant refuses to accept payment using our Payment Services.
7.5. 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 chargeback processing fee as referenced in the Fees & Limits Schedule provided to you, for any such assistance we may give you with any dispute. If there is an un-resolvable dispute with a Merchant in circumstances where the Card has been used for a Transaction, you will be liable for the Transaction and will have to resolve this directly with the relevant Merchant.

8. Identity Verification

8.1. You are responsible for your Card, any Username, PIN number and Account passwords. Do not share your Card or Account security details with anyone.
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 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.
8.3. The user of the Card(s) must sign the signature strip on any Personalised Card immediately when received.
8.4. If you forget your PIN, you should send an SMS instruction to +44 (0) 762 480 3759 with <PIN> <last 8 digits of your card> to retrieve your PIN again. As an example: send PIN 12345678 to +44 (0) 762 480 3759
8.5. The Payment Services may only be used by you.
8.6. You must not give the Card to any other person or allow any other person to use the Payment Services. You must keep the Card in a safe place.
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 15.
8.8. If you believe that someone else knows your Account or Card security details, you should contact us immediately.
8.9. Once your Card or your Account has expired 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.

9. Communications Regarding Your Account

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