Payment accounts and related payment services are provided by Transact Payments Limited, a payment and electronic money institution authorised and regulated by the Gibraltar Financial Services Commission (GFSC) to offer payment and electronic money services in Gibraltar and the United Kingdom. Registered office: 6.20 World Trade Center, 6 Bayside Road, Gibraltar, GX11 1AA. Incorporation number 108217.
First Union Ltd. is a payment programme of Orenda Financial Services Limited (UK). Orenda Financial Services have an agreement with Monavate Ltd for card issuance and related payment services. Monavate Ltd is a limited company registered in England and Wales with registration number 12472532 whose registered office is at The Officers Mess Business Centre, Royston Road, Duxford, Cambridge, England, CB22 4QH. Monavate Ltd is authorised and regulated by the Financial Conduct Authority and registered with Firm Reference Number 901097. Monavate Ltd are regulated and authorised to issue cards and electronic money under the First Union LTD payment programme.
The additional benefits offered are not linked to the account/card provider.
Monavate Consumer Debit Card Terms with E-Wallet offered by MV
This Agreement contains the terms on which we provide the Services to you.
Please read this Agreement in full before you start using the Services; it contains important information about us, the Services we will provide to you, the circumstances under which this Agreement may be changed or ended, what to do and how to access help from us in the event there is a problem as well as other relevant information.
Please contact us via means available on the website if you wish to discuss. This Agreement refers to other documents that apply to the use of the Services as follows:
Monavate Privacy Policy www.monavate.com/privacy-policy
Orenda Privacy Policy https://orenda.finance/privacy-policy/
These additional documents are not part of the Framework Contract.
By starting to use the Services (including, for example, downloading the app, logging into your secure personal log in area on our website, loading your E-wallet with funds or otherwise using the Card to transact) you confirm that you accept and agree to this Agreement (including any updates to this Agreement and the other documents referred to above).
Our company information: Monavate Limited is a company incorporated under the laws of England and Wales with registered company number 12472532. Our registered address is The Officers Mess Business Centre Royston Road Duxford, Cambridge, CB22 4QH ("Monavate", “us”, “we”, “our”, as applicable in the context).
We are authorised by the FCA: Monavate Limited is authorised by the Financial Conduct Authority (“FCA”) (registration number 901097) to issue electronic money and provide payment services.
How to contact us: You can contact us:
By phone: 01223 626 580
By email: info@monavate.com
By writing to:
Monavate Cambridge
The Officers' Mess
Royston Road
Duxford
Cambridge
CB22 4QH
By instant messaging / chat:
When logged into your secure personal log in area of our website.
Card means the payment card issued by us to you that is connected to your E-wallet and may be used to transact.
E-wallet means an e-money account issued to you by us that you may load with funds and use to transact.
Framework Contract means a contract for payment services which governs the future execution of individual and successive payment transactions and which may contain the obligation and conditions for setting up a payment account as defined in the UK Payment Services Regulations 2017.
Orenda means Orenda Financial Services Limited which is a company registered in the United Kingdom with Company Number 1240498 and address St Martins House, 1 Gresham Street, London, England EC2V 7BX acting as programme manager for the First Union LTD programme.
First Union LTD is a company registered in the UK with Company Number 13955042 and registered address 128 City Road, London, United Kingdom, EC1V 2NX, acting as payment programme.
Funding Source means a payment instrument (such as a credit card, debit card or bank account) that you can link to your E-wallet by entering its credentials and subsequently use for Top-Ups from time to time.
Services means the Card, E-wallet and other services provided by us to you in connection with the Card and the E-wallet.
Supported Currencies means those foreign currencies that we support and can be loaded onto an E-wallet for spending.
Top-Up means loading “topping up” your E-wallet with funds.
4.1. Eligibility: In order to be eligible to use our Services, you must be at least 18 years old. In order to start using our Services, you must apply for the Services and provide the relevant details about yourself when prompted.
4.2. Verification: We are required by law to verify certain details about you. We will not issue the Card or open an E-wallet until we have verified your identity and performed such other checks as we may in our discretion deem appropriate.
4.3. The information you provide must be accurate: The information you provide to us must be accurate, complete and truthful at all times. If your personal information changes, then you must update the information we hold about you. We may require additional information from you from time to time and you must cooperate by providing such information upon request.
4.4. Electronic checks with third parties: We may share information which we receive from you with other associated organisations or carry out checks on you electronically as is necessary for the purposes of providing the Services. When we perform electronic checks, we may disclose personal data about you to fraud prevention and credit reference agencies who may keep a record of that information. By applying for our Services, you agree to certain personal data about you being passed to such agencies for this purpose. You have the right of access to the personal records held by such fraud prevention agencies. We will supply the names and addresses of the agencies we use upon written request.
4.5. You must comply with laws applicable to you at all times: You must comply with laws applicable to you at all times. This means when you must comply with all laws applicable to you during the time in which you are applying with us for Services, throughout the term of this Agreement and for as long as we hold a balance of funds for you after this Agreement ends.
5.1. Description
The Card and the E-wallet are issued by us – Movavate Limited. Please see our company’s details in Section 2 (Who we are and how to contact us).
Card
The Card is a payment card that can be used for online and in-store purchases worldwide at merchants who accept Mastercard/Visa payment cards as a form of payment for goods and services. The Card is not a credit card or a charge card. Transactions made using the Card will be debited from the balance of funds held in the E-wallet.
E-wallet
The E-wallet is an e-money account. You may load the E-wallet with e-money using different payment methods (see Section 5.3).
No interest is payable to you on the balance of funds held in the E-wallet; nor does the balance of funds held in the E-wallet constitute a deposit.
The E-wallet may be used to transact. In order to use the E-wallet to transact, you must first load funds onto the E-wallet (please see Section 5.3).
Once loaded with funds, you may send funds from the E-wallet to another payment account.
Each time you transact using the E-wallet or the Card, the balance of funds held in the E-wallet will be debited by the amount of the transaction plus any applicable fees.
In addition to GBP, you may load your E-wallet with funds in different Supported Currencies. We do not support all foreign currencies. Please see the list on website https://myfirstunion.com/ for those currencies that we do support.
Please note that the funds held in your E-wallet are NOT protected by the Financial Services Compensation Scheme; however, we follow the requirements of the Electronic Money Regulations 2011 which are designed to ensure the safety of funds held on accounts such as this.
5.2. What happens in cases where there are insufficient funds in my E-wallet?
If you attempt to send money from the E-wallet or pay for a purchase using the Card and you have an insufficient balance of funds held in your E-wallet to make that payment, the payment will be declined.
You must have a sufficient balance of funds held in your E-wallet to make a payment. The balance of funds held in your E-wallet must not be negative.
If you attempt to make a payment using the E-wallet or Card in a particular currency and you do not hold a sufficient balance of that currency in the E-wallet or the payment otherwise anticipates a currency that we do not support, the payment will be automatically processed using a balance of another currency that you do hold in your E-wallet and a currency conversion rate will be applied (please see section 9.3 for currency conversion rates).
If you do not hold a balance in another currency upon which to draw funds to cover a payment, your payment will be declined.
5.3. Loading funds into your E-wallet with Top-Up
5.3.1. Top-Up: You can load funds into your E-wallet by linking a Funding Source to your E-wallet. You can link a Funding Source to your E-wallet by entering the Funding
Source’s credentials in the secure personal area of our website.
5.3.2. You may link up to three (3) debit or credit cards or one (1) bank account to your E-wallet as a Funding Source. You must have no less than one (1) valid Funding Source linked to your E-wallet at all times; payments made from the E-wallet may be declined if you do not have a valid Funding Source linked to the E-wallet . In order to
Top-Up your E-wallet using your Funding Source, you must follow the applicable steps in the secure personal area of our website.
5.3.3. When we receive a payment from your Funding Source, we may hold the funds for so long as we determine that there is no risk that the issuer of the Funding Source (i.e. your card-issuing or account-issuing bank) may reverse the transfer due to there being insufficient funds in your bank account.
5.3.4. In order to ensure you receive good outcomes from your use of our Services, we may limit the Funding Sources available for a transaction. If we limit a Funding Source, we will alert you that there is a higher-than-normal level of risk associated with the payment (for example, a risk that the payment may be challenged for some reason). If we contact you for this reason, we are not asserting that you or the merchant who you seek to pay is acting in a dishonest or fraudulent manner. It means that we consider there may be a higher-than-normal risk associated with the payment and we are investigating to ensure you receive a good outcome, as far as possible.
6.1. How to authorise a payment
You will need to authorise a transaction before we can charge it to your E-wallet.
6.1.1. Authorising payments made using your E-wallet :
To authorise a payment to another payment account from your E-wallet, you will need to enter the IBAN or account number and sort code of the person you wish to pay (the payee). You must then follow the relevant steps displayed on the screen in the secure personal log in area of our website at the time of transacting in order to authorise the payment.
6.1.2.Authorising payments made using your Card:
To authorise a payment made using the Card, you will need to use the Card or the Card number. You may need to take additional steps to authorise a transaction at the time you are paying, for example, you may need to enter details on a merchant’s online payment page, tap your Card at the point of sale in-store or enter your PIN on the keypad. Depending on the circumstances, you may be required to undergo some further security checks at the time such as providing biometric data (e.g. a fingerprint). If the Card, card number and PIN, biometric data or other security details have been used, we will assume you have authorised the transaction. You must therefore tell us immediately if you do not recognise a transaction that has been charged to your Card and is listed as a transaction in your secure personal log in area of our website.
6.1.3. You cannot cancel a transaction after it has been authorised.
You can, however, cancel payments that you have authorised to be made on a future date, for example, if you have set up a recurring payment. You can cancel the payment permitting you contact us via info@send.myfirstunion.com by the end of the business day before the day the payment is due to be made.
6.2. Situations where we may refuse to authorise a transaction
There are certain situations in which we may refuse to authorise a transaction and/or where we may suspend your use of your Card and/or the E-wallet. These situations are:
● if legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks;
● if you have infringed this Agreement in a way that we reasonably believe justifies our refusing or delaying your payment;
● if we believe that processing your transaction would break this Agreement or that you have not provided all the information we need to make the payment properly;
● if the amount is over, or would take you over, any limit that applies to your E-wallet and/or Card. See limits here https://myfirstunion.com/
● if there are not enough funds loaded into your E-wallet to make the payment and cover any fees; ● if a bankruptcy order is made against you or you have entered into an individual voluntary arrangement with your creditors;
● if, even after doing everything reasonably possible, we will not be able to make the payment on time;
● if a third party prevents us from making the payment (for example, a card scheme);
● if you owe us money;
● if we have asked you for important information we reasonably need and you have not given us that information; or
● if we have suspended your account. 6.3. Time we will receive the payment order If your payment order is received by us after 4pm on a business day or not on a business day, your payment order will be deemed received on the following business day.
6.4. Execution times
6.4.1.Within the EEA and UK, we will execute any transaction: a. in euro; b. executed wholly in the UK in sterling; or c. involving only one currency conversion between the euro and sterling, provided that: i.the required currency conversion is carried out in the UK; and ii.in the case of cross-border transactions, the cross-border transfer takes place in euro, by transferring the amount of the transaction to the payment service provider of the payee by the end of the next business day following the receipt of the payment order.
6.4.2. Any other transactions within the UK will be executed no later than four business days following the receipt of the payment order.
6.4.3. If the payment service provider of the merchant is located outside the EEA, we will execute the transaction as soon as possible.
6.5. Limits placed on the E-wallet
There may be limits on the amount of funds you can load into the E-wallet. We may also place limits on using the E-wallet and/or the Card for payments above a certain amount, from time to time. For further information relating to the limits placed on the E-wallet and/or the Card, you can view our website https://myfirstunion.com/
6.6. Accounting for service charges or tips when using the Card
When using your Card at certain merchants (such as, for example, hotels or car rentals), an additional amount (typically 10%-20%) may be added to anticipated service charges or tips, temporarily reducing the balance of funds held on the E-wallet.
This is to ensure there are sufficient funds available to cover the final cost of the transaction and to reduce the risk of a negative balance arising on the E-wallet. If your actual service charge or tip is less than the additional amount added, it may take up to seven (7) days from the date of the transaction before the difference is available to spend. Only the actual amount of the final bill agreed between you and the merchant will be deducted from the funds held on the E-wallet.
6.7. Shortfall
In the unlikely event, a transaction is completed when there are insufficient funds in the E-wallet for that transaction (a "Shortfall"), the Shortfall shall be reimbursed by you unless it is due to an error on the part of the Merchant where the Card was presented, in this circumstance we may seek the Shortfall from the Merchant. You agree that once we make this Shortfall known to you, we may charge you for the Shortfall amount and deduct the amount from the balance of funds loaded into the E-wallet or from your linked Funding Source. We may also charge the amount of the Shortfall from any other Cards that you hold with us, or any other payment method which you may designate at that time, or against any funds which you may subsequently load into the E-wallet. Until we are reimbursed the Shortfall amount, we may suspend the E-wallet and the Card. In addition, we reserve the right to charge you an administration fee for each transaction that you make using the E-wallet and/or Card that results in a Shortfall or increases the Shortfall amount on the E-wallet.
You may only use your Card up until the expiry date which is printed on the front of the physical Card. We will aim to send you a new Card prior to your Card expiring; we may ask you to confirm some details prior to our sending you a new Card. Fees may apply in certain cases where we send you a new Card. Please see the fees set out on our website https://myfirstunion.com/
8.1. How to withdraw the funds held in your E-wallet
You may withdraw funds held in your E-wallet by first logging into the secure personal log in area of our website and following the relevant prompts on the screen at the time of transacting. You may only withdraw the balance of the funds held in the E-wallet at any point in time minus the amount of any pending transactions.
8.2. Fees will apply to withdrawing funds
You may be charged a fee for withdrawing funds. Please see the fees page on our website https://myfirstunion.com/
8.3. Withdrawing all funds will not mean that your E-wallet is closed
Withdrawing all of your funds from your E-wallet does not automatically close the E-wallet, the Card or otherwise end this Agreement. If you would like to end this Agreement, you must follow the steps in section 16 (closing your E-wallet and ending this Agreement).
9.1. Fees:
You must pay the fees in connection with your use of the Services. We will not process your payment until we have received the relevant fees from you. You can see all fees applicable to you on our website https://myfirstunion.com/
9.2. Interest:
The funds loaded on to your Card will not earn any interest.
9.3. Exchange rates:
You may hold balances of funds in different currencies in your E-wallet. If you are making a payment or withdrawing funds in a currency you hold in the E-wallet, the payment will be made from that balance. If you make a payment or withdraw funds in a currency you do not hold in your E-wallet, we will convert the amount applying the relevant rate and a fee to the balance or currency that you do hold.
For transactions made using the Card, we will use the relevant exchange rate published by Mastercard or Visa (available here https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html). For making payments from the E-wallet, we will use the relevant exchange rate provided by our third-party provider (available here
https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html).
We will also apply our margin which is available on the fees pages of our website https://myfirstunion.com/ . Any change in the relevant exchange rate will be applied immediately and without notice to you. We may also change our exchange rate provider at our discretion, without notice to you.
10.1. How we will contact you:
We may contact you by telephone, letter, SMS or email using the details that you have provided to us in your secure personal log in area of our website. You must keep your contact details in the secure personal log in area up-to-date at all times.
10.2. Information:
Where we are required to provide information to you on a durable medium, we will either send you a notification in your secure personal log in area of our website pointing you to information in the personal log in area in a way that enables you to keep that information, unchanged, and refer to it in the future, such as pdf. Please keep copies of information provided by us to you. If you would like us to provide information in a different manner than agreed, then we may charge you a reasonable administration fee to cover our costs.
10.3. Language:
We will communicate with you in English.
10.4. Your right to receive a copy of this Agreement:
A copy of this Agreement is always available in a form to download on our website. Please visit https://myfirstunion.com/
Alternatively, please contact us info@send.myfirstunion.com if you need assistance in obtaining a copy.
11.1.Steps you must take to keep your E-wallet and Card safe
You must take adequate measures and use best efforts to prevent unauthorized access/use of the Services:
To help you keep your E-wallet and Card secure, you are required to:
− keep your Card, Card number, CCV, login codes and other security features used to access the E-wallet strictly to yourself; do not share your security credentials to access the E-wallet with any other person or otherwise allow another person to use the Services;
− not permit any other person to use your E-wallet and/or Card;
− make sure all your devices are properly protected (set at least one form of access protection, for example a login code);
− keep the operating systems of your devices clean (no illegal software) and up-to-date;
− frequently review the list of transactions in your E-wallet to confirm they are as expected as per your spending;
− inform yourself about common scams, such as phishing;
− always immediately report irregularities by contacting us info@send.myfirstunion.com and follow our instructions.
11.2.How to notify us if there is a problem
If you lose the security credentials used to access your E-wallet or your Card details or if they are stolen, or you suspect that the E-wallet and/or Card has been used by someone other than you, you must tell us immediately by contacting us on our contact details available here info@send.myfirstunion.com , so we can block your Card and/ or access to your E-wallet .
If possible, you must also log into your secure personal log in area of our website and suspend use of your Card. Please note that we may require you to provide some information in relation to your security credentials and/ or Card being lost, theft or misuse in writing. You must assist us with any related enquiries.
11.3.How we will contact you if there is a problem
In the event we suspect there is an issue with the E-wallet and/or Card (for example, such as fraud or security threats) we will contact you, in the first instance, by phone. If we cannot get through to you by phone, we will send you an email. For this reason, you must maintain a current phone number and email address in your secure personal log in area of our website.
In case of an unauthorised payment or where we have incorrectly executed a transaction, upon your request, we will, without delay, refund to you the amount of the transaction including all fees that we have charged for that particular transaction. You will not be entitled to a refund under this section:
(a) where your Card, or the personalised security features used to access your E-wallet , are lost, stolen or misappropriated. You will be liable for the first GBP 35 of any unauthorised payments if we believe you should have been aware of the loss, theft or unauthorised use. We will not hold you liable for the first GBP 35 if the unauthorised payment was caused either by our acts or omissions, or those of a third party expressly carrying out activities on our behalf. Your liability for the first GBP 35 also does not apply to any unauthorised transactions made after you have notified us that the security of your Card or E-wallet has been compromised.
(b) if you have acted fraudulently, in which case we will not refund you in any circumstances;
(c) if the payment transaction was unauthorised but you have with intent or gross negligence compromised the security of your Card or E-wallet or otherwise failed to comply with your obligations to use your Card or E-wallet on the terms of this Agreement. In such a case you shall be solely liable for all losses; or
(d) if you do not let us know about the unauthorised or incorrectly completed transaction without undue delay, and in any event, no later than 13 months from the date of the payment transaction.
13.1. You may claim a refund for a transaction that you authorised provided that:
a. your authorisation did not specify the exact amount when you consented to the transaction;
b. the amount of the transaction exceeded the amount that you could reasonably have expected it to be (taking into account your previous spending pattern using the Services, this Agreement and the circumstances of this case);
c. you requested a refund from us by contacting us info@send.myfirstunion.com, within 8 weeks
of the date the transaction took place.
13.2. When you request a refund under this section, we may require you to provide us with evidence to substantiate your claim. We will refund you within 10 business days of receiving your claim for a refund or, where applicable, within 10 business days of receiving any further information we requested - or we will provide you with reasons for refusing the refund. The refund shall be equal to the amount of the relevant transaction.
We may, at our discretion, amend the Agreement at any time (including amendments and additions to our fees).
14.1. Changes that we may make immediately:
In certain exceptional circumstances such as where:
a. we have a reasonable belief that fraud is likely to or has occurred; or
b. the amendments are made in order to comply with any regulation, we may make such amendments immediately and notify you following such amendments.
14.2. Changes we may make upon notice to you:
Other than for immediate changes as set out above, if we wish to make a change to this Agreement, we will provide you with at least two (2) months’ notice in writing, via email.
If you do not agree to our proposed changes, you have a right to end the Agreement immediately free of charge. If you do not notify us of any disagreement with the proposed changes, we may assume you accept the changes to the Agreement on the date the change comes into force.
We may close your Card and E-wallet or otherwise suspend access to the Services immediately in the following circumstances:
● if we consider, acting reasonably, that you are behaving fraudulently or otherwise criminally;
● if you have not given us any information we have requested from you, or we have good reason to believe that information you have provided is incorrect or not true;
● if you have broken this Agreement in a serious or persistent way and you have refrained from putting the matter right within a reasonable time of us asking you to do so; ● if we have good reason to believe that you continuing to use your Card and/or E-wallet could damage our reputation or goodwill;
● if we have asked you to repay money you owe us and you have not done so within a reasonable period of time;
● if you have been declared bankrupt; or
● if we have to do so under any law, regulation, court order or the FCA or FOS’s instructions.
16.1. You may close your E-wallet and end this Agreement at any time. You may closeyour E-wallet and end this Agreement at any time. You may do this by contacting support@myfirstunion.com
You only need to inform us at the time; you do not need to give us any prior notice.
16.2. You must withdraw your funds from your E-wallet within a reasonable timeframe following notifying us of your intention to close your E-wallet by following the steps as to how to withdraw the funds held in your E-wallet as set out in section 8. After a certain period of time, you may no longer have access to your secure personal log in area of our website in order to follow the steps to withdraw the funds remaining in your E-wallet after closure. You may still, however, withdraw this money for up to six (6) years following the date this
Agreement ends (see Section 17 on how to redeem your funds).
16.3. We may charge a fee if you end this Agreement, if this Agreement has been in place for less than six months.
17.1. If you have funds held in your E-wallet after this Agreement has ended, you may withdraw these funds for up to six (6) years following the date the Agreement ends.
17.2. If there are still funds held in your E-wallet 12 months following the end of this Agreement, we will start deducting a fee from your account that will cover our costs in order to maintain this balance for you until such time as you redeem your funds.
17.3. If you wish to redeem your funds after this Agreement has ended and you no longer have access to your secure personal area of our website, please contact us at support@myfirstunion.com so we can help.
17.4. If you request to redeem your funds after this Agreement ends, we may need to carry out some checks prior to sending the funds to you. We may therefore ask you to provide some information to us at this time, such as identity documents and so on.
17.5. We may charge you a fee for redeeming your funds held in your E-wallet if you request to redeem those funds whilst this Agreement is in place or where you request redemption of the funds held in your E-wallet more than 12 months after this Agreement has ended.
If we do not reasonably meet our commitments to you under the terms of this Agreement, we are only responsible for the loss you suffer that is a foreseeable result of our breaking this Agreement or our failing to use reasonable care and skill. We are not responsible for any loss or damage that is not foreseeable.
We do not exclude or limit liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation.
The E-wallet and the Card are consumer products; accordingly, if you use our Services for any commercial or business purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
The law governing this Agreement is the law of England and Wales. The courts of England and Wales have jurisdiction to adjudicate any dispute between you and us in connection with this Agreement.
If you are not satisfied with the service you receive from us you should contact us support@myfirstunion.com
Correspondence may be monitored or recorded. Our complaints procedure is available on our website or upon request from us support@myfirstunion.com and, if we receive a complaint from you, a copy of our complaints procedure will automatically be sent to you.
We will look into your case as quickly as possible. We aim to acknowledge your complaint within 24 hours and send you a final response within 15 business days. On rare occasions, we may need to extend the deadline by a further 20 business days to investigate your case in detail.
If, having exhausted the complaints procedure above, you remain unhappy, you may complain to the
Financial Ombudsman Service (FOS) on the following contact details:
● Online: www.financial-ombudsman.org.uk
● Email: complaint.info@financial-ombudsman.org.uk
● Mail: The Financial Ombudsman Service Exchange Tower, London, E14 9SR
● Phone: 0800 023 4 567 (free), 0300 123 9 123, weekdays from 8:00am–8:00pm (GMT), and
on Saturday from 9:00am–1:00pm (GMT)
● If you are not in the UK, call +44 20 7964 0500.
We need to collect information about you to provide you with the Services under this Agreement. For information on how we use your personal data, please refer to our privacy notice
https://assets-global.website-files.com/6391a268cc6c4a9010023985/644ba323362aa42b236e0530_Privacy%20Policy%20-%2028-04-2023.pdf
By entering into this Agreement, you acknowledge and agree that we may collect, process and store your personal information for the purposes of providing our Services to you. This does not affect any rights and obligations you or we have under data protection law.
22.1. We may transfer this Agreement to someone else
We may assign or otherwise transfer any of our rights and obligations under the Agreement, without your prior consent, to any other person or business, subject to such party continuing the obligations in the Agreement to you.
22.2. Third parties
This Agreement is between you and us only. Except for any party to whom we transfer this Agreement (under section 17.1), nothing in the Agreement gives any third party any benefit or right (including any enforcement right).
Orenda Corporate Wallet Terms and Conditions
Version: 1.0
Last updated on 22nd May 2025
These terms and conditions of use (“Wallet Terms”), and the provisions of the schedule (“Schedule”), in relation to the use of the corporate Wallet issued by Transact Payments Limited (“TransactPay”) (collectively the “Agreement”) constitute a binding agreement between You and TransactPay.
You will be asked to confirm Your acceptance of this Agreement when You apply for a Wallet via the Corporate Account Platform. If You refuse to accept this Agreement, then Program Manager will not be able to open a Wallet for you. The Agreement will be governed by the Wallet Terms and Schedule in force as displayed on the Website/App.
Account Information Service Provider | a third-party payment service provider which is authorised by a financial regulator to provide online account information services and which, if you allow it, will be able to access certain online account information in the Wallet, such as the payments you make and receive; |
App | the mobile application provided by Orenda that allows you to access the Wallet and take actions, such as making payments, viewing your Transaction history, blocking the Wallet and raising queries with Customer Services; |
Applicable Law
| any law (including but not limited to, any local law of the jurisdictions into which the Wallet is provided and the Program is operated), statute, statutory instrument, act, regulation, rule, order, supervisory guidance, policy, instruction or requirement stipulated by an applicable Regulatory Authority, or interpretation published by any Regulatory Authority, any order issued by a court which has jurisdiction over you, us, Program Manager, or any rule or requirement related to the Wallet and/or any of the services to be provided under this Agreement or such other rule that we consider to be valid and as amended from time to time; |
Available Balance | the value of unspent funds loaded onto the Wallet and available for you to use; |
Business Day
CHAPS | Monday to Friday, 9am to 5pm CET, excluding bank and public holidays in Gibraltar; the Clearing House Automated Payment System, a service which allows organisations to make same-day payments to an account within the UK, within the CHAPS operating days and times; |
Contract Holder
Corporate Account Platform
| You, the corporate entity to whom the Wallet is provided and which, subject to its Corporate Account Platform agreement, owns the available funds that can be used by the Wallet User; the online platform where a Wallet can be requested and funds loaded for use by the Wallet Users. Use of the Corporate Account Platform is regulated by an agreement entered into between the Contract Holder and Orenda; |
Denominated Currency
Direct Debit | has the meaning given to it in the Schedule.
a payment collected via the UK Direct Debit scheme from or to your Wallet; |
Faster Payments | a service which allows you to make and receive electronic payments in the UK. The payment is received by the recipient organisation or bank within 2 hours, as long as the receiving organisation or bank is part of the Faster Payments Scheme; |
Fee | any fee payable by you as referenced in the Fee Schedule; |
Fee Schedule
Insolvency Event | the schedule contained in this Agreement; occurs, with respect to any party, in the event of: (a) that party passing a resolution, or a court making an order, that that party be wound up (except for the purposes of a bona fide, solvent reconstruction or amalgamation); (b) an order being made for the appointment of an administrator in relation to that party or a receiver, administrative receiver or manager being appointed over all or any part of that party's assets or undertaking; (c) that party being unable to pay its debts within the meaning of section 123 of the UK Insolvency Act 1986; (d) there being proposed in respect of that party any voluntary arrangement under [section 1 of the UK Insolvency Act 1986 or any compromise or arrangement under Part 26 of the UK Companies Act 2006; or (e) any circumstances occurring that are the equivalent of (a) to (d) above under the legislation and related case law and practice applicable to that party (where (a) to (d) above do not apply for any reason to that party; |
Microenterprise
Payment Initiation Services Provider | an entity engaged in any economic activity, irrespective of its legal form, which employs fewer than 10 persons and whose annual turnover and/or annual balance sheet does not exceed EUR 2 million or currency equivalent;
a third-party payment service provider which is authorised by a financial regulator to provide an online service to make a payment from your Wallet at your request; |
Personal Details/ Personal Data | any registered personal identity details relating to the use of the Wallet, App and Corporate Account Platform including (but not limited to) an individual’s: name, date of birth, home address, email address and telephone (landline and/or mobile) number. Full details of the Personal Data which we process are set out in our Privacy Policy; |
Program | the marketing, processing, administration, supervision, maintenance, servicing, authorisation or usage of the Wallet and any other payment services established in accordance with this Agreement; |
Program Manager/Orenda
PSRs | Orenda Financial Services Limited, incorporated and registered in England with company number 12404984 and registered office at St Martins House, 1 Gresham Street, London, England, EC2V 7BX;
The Gibraltar Financial Services (Payment Services) Regulations 2020. |
Regulatory Authority | the Gibraltar Financial Services Commission (which is the body which grants our e-money licence and supervises our actions) and/or any regulator or agency which has authority over us or Program Manager in relation to the Wallet, Program or any services provided under this Agreement; |
Security Details
Third-Party Provider/TPP | certain information, including but not limited to Username and Password for the Wallet, used by You on behalf of the Wallet User in order to access the Wallet and authorise Transactions;
an Account Information Service Provider or a Payment Initiation Service Provider; |
Transaction | any debit, credit or adjustment to a Wallet that affects the balance of funds held in it; |
Username and Password | a set of personal codes selected by you in order to access the App;
|
Wallet
Wallet User | the electronic money account provided to you by TransactPay and opened in accordance with this Agreement;
an individual to whom access to a Wallet is provided and who is validly authorised by You to use and to utilise funds loaded onto a Wallet subject to this Agreement and on Your behalf. |
Website | https://orenda.finance/ |
we, us or our | Transact Payments Limited (“TransactPay”), a company incorporated in Gibraltar with registered address at 6.20 World Trade Center, 6 Bayside Road, Gibraltar, GX11 1AA, company registration number 108217 and which is authorised by the Gibraltar Financial Services Commission as an electronic money institution; and |
you or your | the Contract Holder of the Wallet and, as applicable, the Wallet User on the Contract Holder’s behalf. |
2.1. The Wallet is an electronic money account provided by us in accordance with our licence granted by the Gibraltar Financial Services Commission. The Wallet is issued by Us at the Contract Holder’s request and upon acceptance of said request to Program Manager via the Corporate Account Platform. You must use the Wallet in accordance with this Agreement.
2.2. The Contract Holder shall be liable for all acts and omissions of Wallet Users purported to be carried out pursuant to the activities anticipated by this Agreement. The Contract Holder warrants, represents and undertakes that it shall ensure that all Wallet Users are made aware of the content of this Agreement and the obligations regarding the use of the Wallet.
2.3. The Contract Holder shall contractually ensure that Wallet Users are not permitted to use the Wallet unless such use has been authorised by the Contract Holder.
2.4. There is no interest payable to You on the Available Balance of the Wallet and the Available Balance does not amount to a deposit with Us.
2.5. The Wallet is to be used for business purposes only.
2.6. You must ensure that you have sufficient available Funds in your Accounts to carry out any Transaction you wish to make. Some Transactions that would take your available Funds below zero may still go through and if that happens, we will let you know the amount that you will need to repay us before the end of the day. We may block your Accounts if such a negative balance is not rectified immediately.
2.7. You are responsible for any taxes which may be applicable to your Transactions and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.
3.1. To apply for, and use, a Wallet you must be incorporated in a Permitted Territory (as defined in the Schedule).
3.2. The Contract Holder must provide TPML with the names of all Wallet Users upon request and the Contract Holder agrees that each such Wallet User has authority to operate the Wallets on its behalf.
3.3. The Contract Holder will ensure that:
4.1. You must notify Program Manager of any change in a Wallet User’s Personal Details or details relating to the Contract Holder (for example, change of registered office address or change in ownership) as soon as possible by contacting Customer Services. You will have to pay for any loss that happens directly as a result of any delay in telling us that such information has changed or if you have not told us because you’ve been grossly negligent or committed fraud. We will need to verify the new information Details and may request relevant KYC information/documents from you.
4.2. We, or Program Manager, reserve the right at any time to satisfy ourselves that your Personal Details are correct (for example, by requesting relevant original documents) including so that we can prevent fraud and/or money laundering. You also agree to authorise us and Program Manager to undertake electronic identity verification checks on you either directly ourselves or using relevant third-party companies at the time when you apply for a Wallet or at any time in the future.
5.1. You can use the Wallet subject to the Fees which you can find in the Fee Schedule. The Fees will be deducted from the Available Balance as they are charged to you.
5.2. You can receive funds into the Wallet by electronic funds transfer using CHAPS, Faster Payments and any other payment type as notified by us to you from time to time. We will credit the Wallet when we receive the funds.
5.3. The Wallet can also receive internal transfers from other Wallets owned or controlled by you, which apply instantly
5.4. The Wallet will not be credited if:
5.5. If we are unable to credit the Wallet for any of the reasons in clause 34 then the funds may be sent back to the sender without us notifying you beforehand.
5.6. In order to manage our risk, particularly with respect to money laundering, fraud or security concerns, we also apply internal controls, including limits, delays and blocks, to certain types of payment. We change these as necessary but for security purposes, we may or may not disclose them to you.
5.7. You can send funds from the Wallet to external bank accounts using CHAPS, Faster Payments and other methods which we notify you about from time to time.
5.8. If for any reason whatsoever a Transaction is carried out, but the amount is greater than the Available Balance, you must pay us the difference immediately. If you don’t pay us after receiving a notification from us, we reserve the right to take all necessary steps to recover the difference, including taking legal action. We may charge the amount of the difference against any funds on the Wallet, including any funds that are loaded at a later date. We may arrange for the Wallet to be suspended until we are reimbursed with the difference.
5.9. The Wallet will be terminated if you use it for any illegal purposes, in accordance with clause 10.4(b)iv.
5.10 You are not permitted to set up Direct Debits from the Wallet.
6.1. You can allow a Third-Party Provider (also referred to as a ‘TPP’ or ‘Open Banking Provider’) to have access to the information in the Wallet or to initiate certain Transactions from the Wallet. The TPP must be authorised to provide these services to you, and we recommend that you check their authorisation on their regulator’s register of authorised providers before using them.
6.2. When you use a TPP, you authorise and consent to them accessing the Wallet or making payments from the Wallet on your behalf. Once the TPP properly identifies itself to us, we will treat any instruction from the TPP as if it was an instruction from you. You also consent to us sharing any information (including Personal Data) with the TPP that is reasonably required for them to provide their services to you.
6.3. We may deny a TPP access to the Wallet or to make a payment if we are concerned about unauthorised or fraudulent access by that TPP. If we do block access, we will tell you beforehand or as soon as possible afterwards in a way that we consider the most appropriate. We won’t tell you if Applicable Law prevents us from doing so or if there are valid security reasons for not informing you. We will unblock access to the TPP when the reasons for blocking no longer exist.
6.4. You also have the right to block or withdraw access to the Wallet by the TPP and you should contact Customer Services if you wish to do this.
7.1. You can use the Wallet subject to the Fees which you can find in the Fee Schedule. The Fees will be deducted from the Available Balance as they are charged to you.
7.2. Unless we tell you otherwise, you can login to the Wallet anywhere.
7.3. You must not use the Wallet for any illegal purposes (and if you do, you will breach of an important part of this Agreement which means that we can suspend the Wallet, restrict its functionality or terminate this Agreement with immediate effect under clause 10.4(b)(x).
8.1. You must give your consent to each Transaction by a) entering your Security Details; or b) authorising a TPP to initiate a Transaction. Once you have given such consent to the Transaction, we will consider it to be authorised by you.
8.2. When you make a Transaction, we consider it to be received when it is received by our processing partner.
8.3. Once a Transaction has been authorised by you and received by us, it cannot be reversed.
8.4. Your ability to use or access the Wallet may occasionally be interrupted, for example, if Program Manager or any third-party service providers need to carry out maintenance on their systems or websites. Please contact Customer Services should you experience any problems using the Wallet and these will be resolved as soon as possible.
8.5. You may obtain information regarding Transactions and the Available Balance via the App.
9.1. When opening a Wallet, you shall be prompted to create a password that will be used by you to access it. You are responsible for the Wallet, device, App and any related Username and Passwords, logins or other Security Details and you must take all possible measures to keep them safe and entirely confidential. Examples of these measures include (but are not limited to):
(a) never letting any other person use your Security Details;
(b) never writing your Security Details down in a way that allows anyone else to recognise them; and
(c) complying with any reasonable instructions We give about keeping the Wallet safe and secure; and
(d) reporting unauthorised access to the Wallet or to any Security Details to any relevant organisations to warn them of any potential attempts to commit identity fraud in Your name.
9.2. Failure to comply with this clause 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.
9.3. If you believe that someone else knows any of your Security Details, you must notify us by contacting Customer Services immediately.
9.4. You must tell us about any unauthorised or incorrectly executed Transactions immediately.
9.5. If we suspect or believe that there may be a security threat or a threat of fraud to the Wallet, Program Manager will notify you securely via email.
10.1. Unless this Agreement is terminated by you or by us, it shall remain in force.
10.2. When this Agreement is terminated, the Wallet will be closed, and you are not permitted to use it.
10.3. The Agreement may be terminated at any time by the Contract Holder by sending 30 days’ written notice to Customer Services or by Us, or Program Manager for Us, sending 30 days’ written notice to You at the email address that you have provided to Us.
10.4. We, or Program Manager for us, can suspend the Wallet, restrict its functionality or terminate this Agreement at any time with immediate effect if:
i. you haven’t given us the information we need or we believe that any of the information that you have provided to us was incorrect or false; or
ii. you do not pay money that you owe to us; or
iii. you fail to provide the Personal Data necessary for us to comply with our legal or regulatory obligations and to fulfil this Agreement; or
iv. we reasonably suspect that the security of the Wallet has been compromised or that you, or any third party, have used, or intend to use the Wallet in a grossly negligent way or for fraudulent or other illegal purposes; or
v.we believe that your use of the Wallet may result in harm to us or our systems; or
vi. we believe that your continued use of the Wallet may damage our reputation; or
vii. you suffer an Insolvency Event or you cease or threaten to cease to carry on your business; or
viii. we are required to do so under Applicable Law or if we believe that your continued use of the Wallet may be in breach of Applicable Law; or
ix. we cannot process some or all of your Transactions due to the actions of third parties; or
x. you have breached an important part of this Agreement or have repeatedly breached any term of this Agreement and have failed to resolve it in a timely manner.
10.5. If we do suspend, restrict or terminate the Wallet then, if we are legally allowed to, we or Program Manager will notify you in advance or as soon as possible afterwards. We may advise anyone involved in the Transaction if a suspension has taken place. If possible, we or Program Manager will provide the reasons for the suspension, restriction, termination or refusal to execute a Transaction. If we suspend or block your Wallet, we will unblock it as soon as the reasons for blocking it no longer exist.
10.6. Once your Wallet is closed, and subject to any legal obligations that we have to comply with, you will be able to gain access to the funds in the Wallet at any time within six years from the date that this Agreement ends.
10.7. If you owe us any funds or Fees when you request your Available Balance, we shall have the absolute right to deduct those funds of Fees from the funds held in your Wallet.
10.8. Any termination or expiry of the Agreement, howsoever caused, shall be without prejudice to any obligations or rights of either of the parties which may be accrued prior to termination or expiry and shall not affect any provision of the Agreement which is expressly or by implication intended to come into effect on, or to continue in effect after, such termination or expiry.
10.9. The Contract Holder will be responsible for ensuring that all Wallet Users have been notified of termination of the Agreement.
11.1. You can receive payments into the Wallet and make payments out of the Wallet in Pounds Sterling (GBP). You are not permitted to make payments in other currencies.
12.1. You agree that the following regulations of the PSRs do not apply to this Agreement:
(a) 17 to 37 inclusive;
(b) 39(1);
(c) 41(4), 49;
(d) 51, 53, 54, 57; and
(e) 65.
12.2. You agree that you will notify us no later than 1 week after the debit date, on becoming aware of any unauthorised or incorrectly executed payment transaction and regulation 48 (notification of unauthorised or incorrectly executed payment transactions) of the PSRs is varied accordingly.
13.1. We shall not be liable for any Loss arising:
(a) unless directly caused by our negligence, wilful default or fraud;
(b) where you have acted fraudulently;
(c) where you do not quickly notify us of security issues on your Wallet (e.g. loss of your password or other Security Details);
(d) from any loss of profits, loss of business, or any indirect, consequential, special or punitive losses;
(e) for losses arising from any cause beyond our control and the effect of which is beyond our control; or
(f) if a Transaction was unauthorised but you have failed to notify us in the time period required or if it arises due to your default, with intent or negligence, as a result of compromised security of your Wallet or you have otherwise failed to comply with your obligations to use your Wallet in accordance with this Agreement.
13.2. Where funds are incorrectly deducted from your Wallet due to our default, our liability shall be limited to payment to you of an equivalent amount.
13.3. Nothing in this Agreement shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.
13.4. To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
13.5. The above exclusions and limitations set out in this clause shall apply to any liability of our affiliates such as our suppliers, contractors, distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Agreement.
14.1 The Wallet Program is managed by Program Manager. If you would like to make a complaint about the Wallet, please send an email to Program Manager’s Customer Services department at info@orenda.finance.
14.2. If, having received a response from our Customer Services Team, you are unhappy with the outcome you can escalate your complaint to TransactPay’s Complaints Department at complaints@transactpay.com.
14.3. We will make every effort to reach a resolution to your complaint. If we are unable to resolve your issue to your satisfaction we will explain the reasoning behind our decision.
14.4. In the unlikely event that we are unable to resolve your issue you have the right to refer your complaint to the Gibraltar Financial Services Commission at: Payment Services Team, Gibraltar Financial Services Commission, PO Box 940, Suite 3 Ground Floor, Atlantic Suites, Europort Avenue, Gibraltar or email psdcomplaints@fsc.gi.
14.5. Microenterprises may additionally refer an unresolved complaint to the Gibraltar Financial Services Ombudsman at the following address: The Financial Services Ombudsman, Office of the Ombudsman, 10 Governor’s Lane, Gibraltar and at the following website: www.ombudsman.org.gi. In such an instance, TPL is required to co-operate with any investigation and resolution procedure conducted by the Ombudsman and may be required to accept the outcome of such resolution procedure.
15.1. When we or Program Manager communicate with you, we’ll do it by email using the contact details you provide on the Corporate Account Platform.
15.2. You may contact Customer Services via the details which are set out in the Schedule.
16.1. TransactPay will collect certain information about the Wallet User in order to operate the Wallet Program. Your provision of such Personal Data and our processing of that data is necessary for each of us to carry out our obligations under this Agreement. At times, the processing may be necessary so that we can take certain steps, at your request, prior to entering into this Agreement. If you fail to provide the Personal Data which we request, we will take steps to terminate this Agreement in accordance with clause 10.4(iii) above.
16.2. We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about Wallet Users, how we use it and the conditions under which we may disclose it, please refer to our Privacy Policy which is provided to you at the time the Personal Data is collected.
17.1. We may, at Our discretion, alter this Agreement at any time.
17.2. In accordance with our rights under the PSRs, our notice period for informing you of any change shall not be 2 months but we shall instead instruct Program Manager to give You 30 (thirty) days’ prior notice by post or email before We make the change, unless the change is required to be implemented earlier by any Applicable Law or regulation, or if it relates to a change in the exchange rate, in which case the change can be made immediately. The version of this Agreement displayed on the App and Corporate Account Platform at any time shall constitute the binding version and shall render any previous one obsolete. You understand that the App and the Corporate Account Platform should regularly be checked.
17.3. If You do not agree to the change, You should terminate the Agreement in accordance with the provisions of this Agreement. If You do not do so We will assume that You agree to the change and it will be implemented upon the expiry of the notice period.
Only the English language version of this Agreement, any communications that we send to you and any content on the App and Corporate Account Platform will apply. If we translate this Agreement or any other content into another language, the translation is for reference only.
This Agreement, and any disputes which arise under it, shall be exclusively governed and construed in accordance with the laws of Gibraltar.
You agree to the exclusive jurisdiction of the courts of Gibraltar.
21.1. Any delay or failure to exercise any right or remedy under this Agreement by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.
21.2. The Wallet is a payment service product and not a deposit or credit products and, as such, is not governed by the Deposit Security Scheme of Gibraltar. However, we will safeguard your funds so that they are protected by Applicable Law if we become insolvent.
21.3. If any provision of this Agreement is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
21.4. You may not assign or transfer any of your rights and / or benefits under this Agreement and you shall be the sole party to the contract between us. You will remain liable until your Account is closed and all sums due under this Agreement have been paid by you in full. We may assign our rights and benefits under this Agreement to a third party and may subcontract any of our obligations under this Agreement.
21.5. The Wallet is provided by Transact Payments Limited pursuant to its licence from the Gibraltar Financial Services Commmission as an electronic money institution and to undertake payment services.
21.6. Program Manager administers the Wallet provided by TransactPay and is available to give You customer service support if You have any queries. Program Manager will also conduct activities such as sponsorship, marketing, and providing the IT platform and will carry out due diligence on You.
This schedule (“Schedule”), together with the Wallet Terms govern the use of your Wallet. The Schedule and the Terms are referred to collectively as the Agreement.
You will be asked to confirm Your acceptance of this Agreement when you apply for a Wallet via the Corporate Account Platform. If you refuse to accept this Agreement, We will not be able to open a Wallet for you.
Unless specifically stated otherwise, words and expressions in this Schedule have the same meaning and interpretation as defined in the Wallet Terms.
Definitions
Denominated Currency: GBP
Permitted Territory: United Kingdom
Customer Services: The Customer Service Department can be contacted via the below channels:
Wallet Fees
Fee Type | Fees (GBP) |
Account Onboarding Fee | 575.00 |
Monthly Account Fee | 250.00 |
Pay In Fee FPS | 0.50 + 0.5% |
Pay Out Fee FPS | 0.50 + 0.5% |
Pay In Fee BACS | 2.00 + 0.5% |
Monovate Business Debit Card Terms with E-Wallet offered by MV
This Agreement contains the terms on which we provide the Services to you.
Please read this Agreement in full before you start using the Services; it contains important information about us, the Services we will provide to you, the circumstances under which this Agreement may be changed or ended, what to do and how to access help from us in the event there is a problem as well as other relevant information.
Please contact us via means available on the website if you wish to discuss. This Agreement refers to other documents that apply to the use of the Services as follows:
Monavate Privacy Policy www.monavate.com/privacy-policy
Orenda Privacy Policy https://orenda.finance/privacy-policy/
These additional documents are not part of the Framework Contract.
By starting to use the Services (including, for example, downloading the app, logging into your secure personal log in area on our website, loading your E-wallet with funds or otherwise using the Card to transact) you confirm that you accept and agree to this Agreement (including any updates to this Agreement and the other documents referred to above).
Our company information: Monavate Limited is a company incorporated under the laws of England and Wales with registered company number 12472532. Our registered address is The Officers Mess Business Centre Royston Road Duxford, Cambridge, CB22 4QH ("Monavate", “us”, “we”, “our”, as applicable in the context).
We are authorised by the FCA: Monavate Limited is authorised by the Financial Conduct Authority (“FCA”) (registration number 901097) to issue electronic money and provide payment services.
How to contact us: You can contact us:
By phone: 01223 626 580
By email: info@monavate.com
By writing to:
Monavate Cambridge
The Officers' Mess
Royston Road
Duxford
Cambridge
CB22 4QH
By instant messaging / chat:
When logged into your secure personal log in area of our website.
Card means the payment card issued by us to you that is connected to your E-wallet and may be used to transact.
E-wallet means an e-money account issued to you by us that you may load with funds and use to transact.
Framework Contract means a contract for payment services which governs the future execution of individual and successive payment transactions and which may contain the obligation and conditions for setting up a payment account as defined in the UK Payment Services Regulations 2017.
Orenda means Orenda Financial Services Limited which is a company registered in the United Kingdom with Company Number 1240498 and address St Martins House, 1 Gresham Street, London, England EC2V 7BX acting as programme manager for the First Union LTD programme.
First Union LTD is a company registered in the UK with Company Number 13955042 and registered address 128 City Road, London, United Kingdom, EC1V 2NX, acting as payment programme.
Funding Source means a payment instrument (such as a credit card, debit card or bank account) that you can link to your E-wallet by entering its credentials and subsequently use for Top-Ups from time to time.
Services means the Card, E-wallet and other services provided by us to you in connection with the Card and the E-wallet.
Supported Currencies means those foreign currencies that we support and can be loaded onto an E-wallet for spending.
Top-Up means loading “topping up” your E-wallet with funds.
4.1. Eligibility: In order to be eligible to use our Services, you must be at least 18 years old. In order to start using our Services, you must apply for the Services and provide the relevant details about yourself when prompted.
4.2. Verification: We are required by law to verify certain details about you. We will not issue the Card or open an E-wallet until we have verified your identity and performed such other checks as we may in our discretion deem appropriate.
4.3. The information you provide must be accurate: The information you provide to us must be accurate, complete and truthful at all times. If your personal information changes, then you must update the information we hold about you. We may require additional information from you from time to time and you must cooperate by providing such information upon request.
4.4. Electronic checks with third parties: We may share information which we receive from you with other associated organisations or carry out checks on you electronically as is necessary for the purposes of providing the Services. When we perform electronic checks, we may disclose personal data about you to fraud prevention and credit reference agencies who may keep a record of that information. By applying for our Services, you agree to certain personal data about you being passed to such agencies for this purpose. You have the right of access to the personal records held by such fraud prevention agencies. We will supply the names and addresses of the agencies we use upon written request.
4.5. You must comply with laws applicable to you at all times: You must comply with laws applicable to you at all times. This means when you must comply with all laws applicable to you during the time in which you are applying with us for Services, throughout the term of this Agreement and for as long as we hold a balance of funds for you after this Agreement ends.
5.1. Description
The Card and the E-wallet are issued by us – Movavate Limited. Please see our company’s details in Section 2 (Who we are and how to contact us).
Card
The Card is a payment card that can be used for online and in-store purchases worldwide at merchants who accept Mastercard/Visa payment cards as a form of payment for goods and services. The Card is not a credit card or a charge card. Transactions made using the Card will be debited from the balance of funds held in the E-wallet.
E-wallet
The E-wallet is an e-money account. You may load the E-wallet with e-money using different payment methods (see Section 5.3).
No interest is payable to you on the balance of funds held in the E-wallet; nor does the balance of funds held in the E-wallet constitute a deposit.
The E-wallet may be used to transact. In order to use the E-wallet to transact, you must first load funds onto the E-wallet (please see Section 5.3).
Once loaded with funds, you may send funds from the E-wallet to another payment account.
Each time you transact using the E-wallet or the Card, the balance of funds held in the E-wallet will be debited by the amount of the transaction plus any applicable fees.
In addition to GBP, you may load your E-wallet with funds in different Supported Currencies. We do not support all foreign currencies. Please see the list on website https://myfirstunion.com/ for those currencies that we do support.
Please note that the funds held in your E-wallet are NOT protected by the Financial Services Compensation Scheme; however, we follow the requirements of the Electronic Money Regulations 2011 which are designed to ensure the safety of funds held on accounts such as this.
5.2. What happens in cases where there are insufficient funds in my E-wallet?
If you attempt to send money from the E-wallet or pay for a purchase using the Card and you have an insufficient balance of funds held in your E-wallet to make that payment, the payment will be declined.
You must have a sufficient balance of funds held in your E-wallet to make a payment. The balance of funds held in your E-wallet must not be negative.
If you attempt to make a payment using the E-wallet or Card in a particular currency and you do not hold a sufficient balance of that currency in the E-wallet or the payment otherwise anticipates a currency that we do not support, the payment will be automatically processed using a balance of another currency that you do hold in your E-wallet and a currency conversion rate will be applied (please see section 9.3 for currency conversion rates).
If you do not hold a balance in another currency upon which to draw funds to cover a payment, your payment will be declined.
5.3. Loading funds into your E-wallet with Top-Up
5.3.1. Top-Up: You can load funds into your E-wallet by linking a Funding Source to your E-wallet. You can link a Funding Source to your E-wallet by entering the Funding
Source’s credentials in the secure personal area of our website.
5.3.2. You may link up to three (3) debit or credit cards or one (1) bank account to your E-wallet as a Funding Source. You must have no less than one (1) valid Funding Source linked to your E-wallet at all times; payments made from the E-wallet may be declined if you do not have a valid Funding Source linked to the E-wallet . In order to
Top-Up your E-wallet using your Funding Source, you must follow the applicable steps in the secure personal area of our website.
5.3.3. When we receive a payment from your Funding Source, we may hold the funds for so long as we determine that there is no risk that the issuer of the Funding Source (i.e. your card-issuing or account-issuing bank) may reverse the transfer due to there being insufficient funds in your bank account.
5.3.4. In order to ensure you receive good outcomes from your use of our Services, we may limit the Funding Sources available for a transaction. If we limit a Funding Source, we will alert you that there is a higher-than-normal level of risk associated with the payment (for example, a risk that the payment may be challenged for some reason). If we contact you for this reason, we are not asserting that you or the merchant who you seek to pay is acting in a dishonest or fraudulent manner. It means that we consider there may be a higher-than-normal risk associated with the payment and we are investigating to ensure you receive a good outcome, as far as possible.
6.1. How to authorise a payment
You will need to authorise a transaction before we can charge it to your E-wallet.
6.1.1. Authorising payments made using your E-wallet :
To authorise a payment to another payment account from your E-wallet, you will need to enter the IBAN or account number and sort code of the person you wish to pay (the payee). You must then follow the relevant steps displayed on the screen in the secure personal log in area of our website at the time of transacting in order to authorise the payment.
6.1.2.Authorising payments made using your Card:
To authorise a payment made using the Card, you will need to use the Card or the Card number. You may need to take additional steps to authorise a transaction at the time you are paying, for example, you may need to enter details on a merchant’s online payment page, tap your Card at the point of sale in-store or enter your PIN on the keypad. Depending on the circumstances, you may be required to undergo some further security checks at the time such as providing biometric data (e.g. a fingerprint). If the Card, card number and PIN, biometric data or other security details have been used, we will assume you have authorised the transaction. You must therefore tell us immediately if you do not recognise a transaction that has been charged to your Card and is listed as a transaction in your secure personal log in area of our website.
6.1.3. You cannot cancel a transaction after it has been authorised.
You can, however, cancel payments that you have authorised to be made on a future date, for example, if you have set up a recurring payment. You can cancel the payment permitting you contact us via info@send.myfirstunion.com by the end of the business day before the day the payment is due to be made.
6.2. Situations where we may refuse to authorise a transaction
There are certain situations in which we may refuse to authorise a transaction and/or where we may suspend your use of your Card and/or the E-wallet. These situations are:
● if legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks;
● if you have infringed this Agreement in a way that we reasonably believe justifies our refusing or delaying your payment;
● if we believe that processing your transaction would break this Agreement or that you have not provided all the information we need to make the payment properly;
● if the amount is over, or would take you over, any limit that applies to your E-wallet and/or Card. See limits here https://myfirstunion.com/
● if there are not enough funds loaded into your E-wallet to make the payment and cover any fees; ● if a bankruptcy order is made against you or you have entered into an individual voluntary arrangement with your creditors;
● if, even after doing everything reasonably possible, we will not be able to make the payment on time;
● if a third party prevents us from making the payment (for example, a card scheme);
● if you owe us money;
● if we have asked you for important information we reasonably need and you have not given us that information; or
● if we have suspended your account. 6.3. Time we will receive the payment order If your payment order is received by us after 4pm on a business day or not on a business day, your payment order will be deemed received on the following business day.
6.4. Execution times
6.4.1.Within the EEA and UK, we will execute any transaction: a. in euro; b. executed wholly in the UK in sterling; or c. involving only one currency conversion between the euro and sterling, provided that: i.the required currency conversion is carried out in the UK; and ii.in the case of cross-border transactions, the cross-border transfer takes place in euro, by transferring the amount of the transaction to the payment service provider of the payee by the end of the next business day following the receipt of the payment order.
6.4.2. Any other transactions within the UK will be executed no later than four business days following the receipt of the payment order.
6.4.3. If the payment service provider of the merchant is located outside the EEA, we will execute the transaction as soon as possible.
6.5. Limits placed on the E-wallet
There may be limits on the amount of funds you can load into the E-wallet. We may also place limits on using the E-wallet and/or the Card for payments above a certain amount, from time to time. For further information relating to the limits placed on the E-wallet and/or the Card, you can view our website https://myfirstunion.com/
6.6. Accounting for service charges or tips when using the Card
When using your Card at certain merchants (such as, for example, hotels or car rentals), an additional amount (typically 10%-20%) may be added to anticipated service charges or tips, temporarily reducing the balance of funds held on the E-wallet.
This is to ensure there are sufficient funds available to cover the final cost of the transaction and to reduce the risk of a negative balance arising on the E-wallet. If your actual service charge or tip is less than the additional amount added, it may take up to seven (7) days from the date of the transaction before the difference is available to spend. Only the actual amount of the final bill agreed between you and the merchant will be deducted from the funds held on the E-wallet.
6.7. Shortfall
In the unlikely event, a transaction is completed when there are insufficient funds in the E-wallet for that transaction (a "Shortfall"), the Shortfall shall be reimbursed by you unless it is due to an error on the part of the Merchant where the Card was presented, in this circumstance we may seek the Shortfall from the Merchant. You agree that once we make this Shortfall known to you, we may charge you for the Shortfall amount and deduct the amount from the balance of funds loaded into the E-wallet or from your linked Funding Source. We may also charge the amount of the Shortfall from any other Cards that you hold with us, or any other payment method which you may designate at that time, or against any funds which you may subsequently load into the E-wallet. Until we are reimbursed the Shortfall amount, we may suspend the E-wallet and the Card. In addition, we reserve the right to charge you an administration fee for each transaction that you make using the E-wallet and/or Card that results in a Shortfall or increases the Shortfall amount on the E-wallet.
You may only use your Card up until the expiry date which is printed on the front of the physical Card. We will aim to send you a new Card prior to your Card expiring; we may ask you to confirm some details prior to our sending you a new Card. Fees may apply in certain cases where we send you a new Card. Please see the fees set out on our website https://myfirstunion.com/
8.1. How to withdraw the funds held in your E-wallet
You may withdraw funds held in your E-wallet by first logging into the secure personal log in area of our website and following the relevant prompts on the screen at the time of transacting. You may only withdraw the balance of the funds held in the E-wallet at any point in time minus the amount of any pending transactions.
8.2. Fees will apply to withdrawing funds
You may be charged a fee for withdrawing funds. Please see the fees page on our website https://myfirstunion.com/
8.3. Withdrawing all funds will not mean that your E-wallet is closed
Withdrawing all of your funds from your E-wallet does not automatically close the E-wallet, the Card or otherwise end this Agreement. If you would like to end this Agreement, you must follow the steps in section 16 (closing your E-wallet and ending this Agreement).
9.1. Fees:
You must pay the fees in connection with your use of the Services. We will not process your payment until we have received the relevant fees from you. You can see all fees applicable to you on our website https://myfirstunion.com/
9.2. Interest:
The funds loaded on to your Card will not earn any interest.
9.3. Exchange rates:
You may hold balances of funds in different currencies in your E-wallet. If you are making a payment or withdrawing funds in a currency you hold in the E-wallet, the payment will be made from that balance. If you make a payment or withdraw funds in a currency you do not hold in your E-wallet, we will convert the amount applying the relevant rate and a fee to the balance or currency that you do hold.
For transactions made using the Card, we will use the relevant exchange rate published by Mastercard or Visa (available here https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html). For making payments from the E-wallet, we will use the relevant exchange rate provided by our third-party provider (available here
https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html).
We will also apply our margin which is available on the fees pages of our website https://myfirstunion.com/ . Any change in the relevant exchange rate will be applied immediately and without notice to you. We may also change our exchange rate provider at our discretion, without notice to you.
10.1. How we will contact you:
We may contact you by telephone, letter, SMS or email using the details that you have provided to us in your secure personal log in area of our website. You must keep your contact details in the secure personal log in area up-to-date at all times.
10.2. Information:
Where we are required to provide information to you on a durable medium, we will either send you a notification in your secure personal log in area of our website pointing you to information in the personal log in area in a way that enables you to keep that information, unchanged, and refer to it in the future, such as pdf. Please keep copies of information provided by us to you. If you would like us to provide information in a different manner than agreed, then we may charge you a reasonable administration fee to cover our costs.
10.3. Language:
We will communicate with you in English.
10.4. Your right to receive a copy of this Agreement:
A copy of this Agreement is always available in a form to download on our website. Please visit https://myfirstunion.com/
Alternatively, please contact us support@myfirstunion.com if you need assistance in obtaining a copy.
11.1.Steps you must take to keep your E-wallet and Card safe
You must take adequate measures and use best efforts to prevent unauthorized access/use of the Services:
To help you keep your E-wallet and Card secure, you are required to:
− keep your Card, Card number, CCV, login codes and other security features used to access the E-wallet strictly to yourself; do not share your security credentials to access the E-wallet with any other person or otherwise allow another person to use the Services;
− not permit any other person to use your E-wallet and/or Card;
− make sure all your devices are properly protected (set at least one form of access protection, for example a login code);
− keep the operating systems of your devices clean (no illegal software) and up-to-date;
− frequently review the list of transactions in your E-wallet to confirm they are as expected as per your spending;
− inform yourself about common scams, such as phishing;
− always immediately report irregularities by contacting us info@send.myfirstunion.com and follow our instructions.
11.2.How to notify us if there is a problem
If you lose the security credentials used to access your E-wallet or your Card details or if they are stolen, or you suspect that the E-wallet and/or Card has been used by someone other than you, you must tell us immediately by contacting us on our contact details available here info@send.myfirstunion.com , so we can block your Card and/ or access to your E-wallet .
If possible, you must also log into your secure personal log in area of our website and suspend use of your Card. Please note that we may require you to provide some information in relation to your security credentials and/ or Card being lost, theft or misuse in writing. You must assist us with any related enquiries.
11.3.How we will contact you if there is a problem
In the event we suspect there is an issue with the E-wallet and/or Card (for example, such as fraud or security threats) we will contact you, in the first instance, by phone. If we cannot get through to you by phone, we will send you an email. For this reason, you must maintain a current phone number and email address in your secure personal log in area of our website.
In case of an unauthorised payment or where we have incorrectly executed a transaction, upon your request, we will refund to you the amount of the transaction including all fees that we have charged for that particular transaction. You will not be entitled to a refund under this section:
12.1. if you have acted fraudulently, in which case we will not refund you in any circumstances;
12.2. if the payment transaction was unauthorised but you have with intent or gross negligence compromised the security of your Card or E-wallet or otherwise failed to comply with your obligations to use your Card or E-wallet on the terms of this Agreement. In such a case you shall be solely liable for all losses. We will treat any payment instruction given using your Card and/or E-wallet as evidence that you authorised the transaction or did not otherwise keep your security credentials safe; or
12.3. If you do not let us know about the unauthorised or incorrectly completed transaction without undue delay, and in any event, no later than 1 month from the date of the
payment transaction.
12.4. We may require you to provide us with information relating to the transaction and/ or your claim for a refund under this section. We may carry out an investigation prior to issuing you with any refund and you agree to cooperate with our investigation.
We may, at our discretion, amend the Agreement at any time (including amendments and additions to our fees).
14.1. Changes that we may make immediately:
In certain exceptional circumstances such as where:
a. we have a reasonable belief that fraud is likely to or has occurred; or
b. the amendments are made in order to comply with any regulation, we may make such amendments immediately and notify you following such amendments.
14.2. Changes we may make upon notice to you:
Other than for immediate changes as set out above, if we wish to make a change to this Agreement, we will provide you with at least two (2) months’ notice in writing, via email.
If you do not agree to our proposed changes, you have a right to end the Agreement immediately free of charge. If you do not notify us of any disagreement with the proposed changes, we may assume you accept the changes to the Agreement on the date the change comes into force.
We may close your Card and E-wallet or otherwise suspend access to the Services immediately in the following circumstances:
● if we consider, acting reasonably, that you are behaving fraudulently or otherwise criminally;
● if you have not given us any information we have requested from you, or we have good reason to believe that information you have provided is incorrect or not true;
● if you have broken this Agreement in a serious or persistent way and you have refrained from putting the matter right within a reasonable time of us asking you to do so; ● if we have good reason to believe that you continuing to use your Card and/or E-wallet could damage our reputation or goodwill;
● if we have asked you to repay money you owe us and you have not done so within a reasonable period of time;
● if you have been declared bankrupt; or
● if we have to do so under any law, regulation, court order or the FCA or FOS’s instructions.
15.1. You may close your E-wallet and end this Agreement at any time. You may closeyour E-wallet and end this Agreement at any time. You may do this by contacting support@myfirstunion.com
You only need to inform us at the time; you do not need to give us any prior notice.
15.2. You must withdraw your funds from your E-wallet within a reasonable timeframe following notifying us of your intention to close your E-wallet by following the steps as to how to withdraw the funds held in your E-wallet as set out in section 8. After a certain period of time, you may no longer have access to your secure personal log in area of our website in order to follow the steps to withdraw the funds remaining in your E-wallet after closure. You may still, however, withdraw this money for up to six (6) years following the date this
Agreement ends (see Section 17 on how to redeem your funds).
16.1. If you have funds held in your E-wallet after this Agreement has ended, you may withdraw these funds for up to six years following the date the Agreement ends.
16.2. If there are still funds held in your E-wallet 12 months following the end of this Agreement, we will start deducting a fee from your account that will cover our costs in order to maintain this balance for you until such time as you redeem your funds.
16.3. If you wish to redeem your funds after this Agreement has ended and you no longer have access to your secure personal area of our website, please contact us https://myfirstunion.com/ so we can help.
16.4. If you request to redeem your funds after this Agreement ends, we may need to carry out some checks prior to sending the funds to you. We may therefore ask you to provide some information to us at this time, such as identity documents and so on.
16.5. You must pay the relevant fees for redeeming your funds.
17.1. We will not be liable for:
17.1.1. any fault or failure relating to the use of the Services that is a result of abnormal and unforeseeable circumstances beyond our control which would have been unavoidable despite all our efforts to the contrary, including but not limited to, a fault in or failure of data processing systems;
17.1.2. the goods or services that you purchase with using the Services (unless otherwise agreed);
17.1.3. any loss of profits, loss of business, or any indirect, consequential, special or punitive losses;
17.1.4. a merchant refusing to honour a transaction or refusing a payment; or
17.1.5. any acts or omissions that are a consequence of our compliance with any UK law or any other laws to which we are subject.
17.2. In any event, our liability will be limited to the balance of funds held in your E-wallet at the time that the event occurs.
17.3. Nothing in this Agreement shall exclude or limit any regulatory responsibilities we have which we are not permitted to exclude or limit, or our liability for death or personal injury.
17.4. If you have used the Services or allowed the Services we provide to you to be used fraudulently, in a manner that does not comply with this Agreement, for illegal purposes, or if you have allowed access to the Services to be compromised due to your gross negligence, you will be held responsible for the use and misuse of the Services.
The law governing this Agreement is the law of England and Wales. The courts of England and Wales have jurisdiction to adjudicate any dispute between you and us in connection with this Agreement.
If you are not satisfied with the service you receive from us you should contact us
https://myfirstunion.com/. Correspondence may be monitored or recorded.
We need to collect information about you to provide you with the Services under this Agreement. For information on how we use your personal data, please refer to our privacy notice
https://assets-global.website-files.com/6391a268cc6c4a9010023985/644ba323362aa42b236e0530_Privacy%20Policy%20-%2028-04-2023.pdf
By entering into this Agreement, you acknowledge and agree that we may collect, process and store your personal information for the purposes of providing our Services to you. This does not affect any rights and obligations you or we have under data protection law.
21.1. We may transfer this Agreement to someone else
We may assign or otherwise transfer any of our rights and obligations under the Agreement, without your prior consent, to any other person or business, subject to such party continuing the obligations in the Agreement to you.
21.2. Third parties
This Agreement is between you and us only. Except for any party to whom we transfer this Agreement (under section 17.1), nothing in the Agreement gives any third party any benefit or right (including any enforcement right).
This policy explains when and why we collect personal information about you, how we use it, the conditions under which we may disclose it to others and how we keep it secure.
We are committed to safeguarding the privacy of your information. By “your data”, "your personal data”, and “your information” we mean any personal data about you which you or third parties provide to us.
We may change this policy from time to time so please check this page regularly to ensure that you’re happy with any changes.
Transact Payments Limited (“TPL”, “we”, “our” or “us”) is the issuer of your account and card, and is an independent Data Controller for the personal data which you provide to us. TPL is an e-money institution, authorised and regulated by the Gibraltar Financial Services Commission. Our registered office address is 6.20 World Trade Center, 6 Bayside Road, Gibraltar, GX11 1AA and our registered company number is 108217.
Orenda Financial Services Limited is the Program Manager for your account and card program and is an independent Data Controller for any personal data which you provide which is related to facilitating the management of the card program. Orenda Financial Services Limited is incorporated and registered in England and Wales with registered office at St Martins House, 1 Gresham Street, London, England, EC2V 7BX and company registration number 12404984.
We collect information from you when you either apply online or via a mobile application for a payments card which is issued by us or a payments account is opened in your name. We also collect information when you use your card or account to make transactions. We may also process information from the Program Manager, other third-party payment partners and service providers. We also obtain information from third parties (such as fraud prevention agencies) who may check your personal data against any information listed on an Electoral Register and/or other databases. When we process your personal data we rely on legal bases in accordance with data protection law and this privacy policy. For more information see: On what legal basis do we process your personal data?
Contract
Your provision of your personal data and our processing of that data is necessary for each of us to carry out our obligations under the contract (known as the customer terms and conditions or similar) which we enter into when you use our payment services. At times, the processing may be necessary so that we can take certain steps, or at your request, prior to entering into that contract, such as verifying your details or eligibility for the payment services. If you fail to provide the personal data which we request, we cannot enter into a contract to provide payment services to you or will take steps to terminate any contract which we have entered into with you.
Legal/Regulatory
We may also process your personal data to comply with our legal or regulatory obligations.
Legitimate Interests
We, or a third party, may have a legitimate interest to process your personal data, for example:
When you either apply for a card or receive an account, we, or our partners or service providers, collect the following information from you: full name, physical address, email address, mobile phone number, phone number, date of birth, gender, login details, IP address, identity and address verification documents.
When you use your card or account to make transactions, we store that transactional and financial information. This includes the date, amount, currency, account balances and name of the merchant, creditor or supplier (for example a supermarket or retailer). We also collect information relating to the payments which are made to/from your account. If we are required by law to process additional personal data (for example, if we suspect that there may be fraud related to the use of your card or the payment services linked to it), we will also process that extra personal data.
We use your personal data to:
When we use third-party service partners, we have a contract in place that requires them to keep your information secure and confidential.
We may receive and pass your information to the following categories of entity:
To deliver services to you, it is sometimes necessary for us to share your personal information outside the UK/Gibraltar e.g.:
These transfers are subject to special rules under Gibraltar data protection law.
These countries do not have the same data protection laws as Gibraltar. We will, however, ensure the transfer complies with data protection law and all personal information will be secure. We will send your data to countries where the Gibraltar Government has made an adequacy decision meaning that it has ruled that the legislative framework in the country provides an adequate level of data protection for your personal information. You can find out more about adequacy regulations here and here.
Where we send your data to a country where no adequacy decision has been made, our standard practice is to use standard data protection contract clauses that have been approved by the United Kingdom government and/or the European Commission. You can obtain a copy of the European Commission’s document here and the UK’s document here.
If you would like further information, please contact our Data Protection Officer on the details below.
We will store your information for a period of six years after our business relationship ends in order that we can comply with our obligations under applicable legislation such as anti-money laundering and anti-fraud regulations. If any applicable legislation or changes to this require us to retain your data for a longer or shorter period of time, we shall retain it for that period. We will not retain your data for longer than is necessary.
You have certain rights regarding the personal data which we process:
If you would like us to carry out any of the above, please email your request to the Data Protection Officer at DPO@transactpay.com.
We recognise the importance of protecting and managing your personal data. Any personal data we process will be treated with appropriate care and security.
These are some of the security measures we have in place:
While we take all reasonable steps to ensure that your personal data will be kept secure from unauthorised access, we cannot guarantee it will be secure during transmission by you to the applicable mobile app, website or other services over the internet. However, once we receive your information, we make appropriate efforts to ensure its security on our systems.
We hope that our Data Protection Officer can resolve any query or concern you may raise about our use of your personal information.
The General Data Protection Regulation also gives you right to lodge a complaint with a supervisory authority, in particular in the European Union (or European Economic Area) state where you work, normally live or where any alleged infringement of data protection laws occurred.
The supervisory authority in Gibraltar is the Gibraltar Regulatory Authority. Their contact details are as follows:
Gibraltar Regulatory Authority,
2nd floor, Eurotowers 4, 1 Europort Road, Gibraltar.
(+350) 20074636/(+350) 20072166 info@gra.gi
Our website may contain links to other websites. This privacy policy applies only to our website‚ so we encourage you to read the privacy statements on the other websites you visit. We cannot be responsible for the privacy policies and practices of other sites even if you access them using links from our website.
We keep our privacy policy under review and we regularly update it to keep up with business demands and privacy regulation. We will inform you about any such changes. This privacy policy was last updated on 12th May 2025.
If you have any questions about our privacy policy or the personal information which we hold about you or, please send an email to our Data Protection Officer at DPO@transactpay.com.
This privacy policy applies between you, the User of this Website and the Orenda Financial Services Limited (Orenda), the collector and processor of information provided by you through this website. Orenda takes the privacy of your information very seriously. This privacy policy applies to our use of any and all Data collected by us or provided by you in relation to your use of the Website. Please read this privacy policy carefully.
Data
Data includes all information that you submit via the Website. This definition incorporates, where applicable, the definitions provided in relevant the Data Protection Laws including but not limited to, the Directive 96/46/EC (Data Protection Directive) or the GDPR, and any national implementing laws, regulations and secondary legislation; GDPR the General Data Protection Regulation (EU) 2016/679. Orenda Financial Services Limited (12404984) is a limited liability company incorporated in England and Wales, whose registered office is at St Martins House, 1 Gresham Street, London, England, EC2V 7BX.
In this privacy policy, unless the context requires a different interpretation:
The singular includes the plural and vice versa; references to sub-clauses, clauses, schedules or appendices are to sub-clauses, clauses, schedules or appendices of this privacy policy; a reference to a person includes firms, companies, government entities, trusts and partnerships; “including” is understood to mean “including without limitation”; reference to any statutory provision includes any modification or amendment of it; the headings and subheadings do not form part of this privacy policy.
This privacy policy applies only to the actions of Orenda and Users with respect to this Website. It does not extend to any websites that can be accessed from this Website including, but not limited to, any links we may provide to social media websites.
For purposes of the applicable Data Protection Laws, Orenda is the program manager for your account and card program and is an independent 'Data Controller' for any personal data which you provide which is related to facilitating the management of the card and account program. Orenda Financial Services Limited is incorporated and registered in England and Wales with registered office at St Martins House, 1 Gresham Street, London, England, EC2V 7BX and company registration number 12404984.
Transact Payments Limited (TPL) is the issuer of your account and card, and is an independent 'Data Controller' for the personal data which you provide to TPL. TPL is an e-money institution, authorised and regulated by the Gibraltar Financial Services Commission. Its registered office address is 6.20 World Trade Center, 6 Bayside Road, Gibraltar, GX11 1AA and our registered company number is 108217.
We may collect the following Data, which includes personal Data, from you:
Name; date of birth; gender; profession; contact Information such as email addresses and telephone numbers; financial information such as credit / debit card numbers; IP address (automatically collected); operating system (automatically collected); in each case, in accordance with this privacy policy.
We collect Data in the following ways:
Your data will be collected in a number of ways, for example when you contact us through the Website, by telephone, post, e-mail or through any other means; or when you register and set up an account to receive products/services. In each case the case is collected in accordance with this privacy policy. Data that is collected automatically to the extent that you access the Website, will include for example, information ( IP address, date, time, frequency) about your visit to the Website. This information helps us to make improvements to Website content and navigation.
Any or all of the above Data may be required by us from time to time in order to provide you with the best possible service and experience when using our Website. Data will be used in accordance with this privacy policy.
We may use your Data for the above purposes if we deem it necessary to do so for our legitimate interests. If you are not satisfied with this, you have the right to object in certain circumstances (see the section headed “Your rights” below).
We may share your Data with the following groups of people for the following reasons:
In each case, data will be provided in accordance with this privacy policy.
We will use technical and organisational measures to safeguard your Data, for example:
access to your account is controlled by a password and a username that is unique to you.
We store your Data on secure servers. Payment details are encrypted using SSL technology (typically you will see a lock icon or green address bar (or both) in your browser when we use this technology.
Technical and organisational measures include measures to deal with any suspected data breach. If you suspect any misuse or loss or unauthorised access to your Data, please let us know immediately by contacting us via this email address: info@orenda.finance If you want detailed information from Get Safe Online on how to protect your information and your computers and devices against fraud, identity theft, viruses and many other online problems, please visit www.getsafeonline.org. Get Safe Online is supported by HM Government and leading businesses.
Unless a longer retention period is required or permitted by law, we will only hold your Data on our systems for the period necessary to fulfil the purposes outlined in this privacy policy or until you request that the Data be deleted. Even if we delete your Data, it may persist on backup or archival media for legal, tax or regulatory purposes.
You have the following rights in relation to your Data:
To make enquiries, exercise any of your rights set out above, or withdraw your consent to the processing of your Data (where consent is our legal basis for processing your Data), please contact us via this email address: info@orenda.finance If you are not satisfied with the way a complaint you make in relation to your Data is handled by us, you may be able to refer your complaint to the relevant data protection authority. For the UK, this is the Information Commissioner’s Office (ICO). The ICO’s contact details can be found on their website at https://ico.org.uk/. It is important that the Data we hold about you is accurate and current. Please keep us informed if your Data changes during the period for which we hold it.
This Website may, from time to time, provide links to other websites. We have no control over such websites and are not responsible for the content of these websites. This privacy policy does not extend to your use of such websites. You are advised to read the privacy policy or statement of other websites prior to using them.
Orenda may, from time to time, expand or reduce our business and this may involve the sale and/or the transfer of control of all or part of Orenda. Data provided by Users will, where it is relevant to any part of our business so transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this privacy policy, be permitted to use the Data for the purposes for which it was originally supplied to Us. We may also disclose Data to a prospective purchaser of our business or any part of it. In the above instances, we will take steps with the aim of ensuring your privacy is protected.
Orenda reserves the right to change this privacy policy as we may deem necessary from time to time or as may be required by law. Any changes will be immediately posted on the Website and you are deemed to have accepted the terms of the privacy policy on your first use of the Website following the alterations. You may contact Orenda by email at info@orenda.finance.
Term | Definition |
Maintaining the account | The Program Manager or Cobrand operates the account for use by the customer. |
Subscribing or renewing internet, mobile and telephone payment services | The Program Manager or Cobrand provides the customer with access for payment services using the internet, mobile or telephone. |
Requesting statements | The customer requests bank statements, in paper or on other Durable Medium, over and above those which the Program Manager or Cobrand is required to send by law. |
Cash withdrawal or deposit | The customer requests to deposit or withdraw cash in or from an account. |
Standing order | The Program Manager or Cobrand makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer's account to another account. |
Providing and renewing a debit card | The Program Manager or Cobrand provides a payment card linked to the customer's account, enabling the latter to withdraw and pay, locally, abroad, and even online. The amount of each transaction made using the card is taken directly and in full, from the customer's account. |
Providing and renewing a credit card | The Program Manager or Cobrand provides a payment card linked to the customer's payment account. The total amount of the transactions made using the card during an agreed period is taken either in full or in part from the customer's payment account on an agreed date. A Credit Agreement between the Program Manager or Cobrand and the customer determines whether interest will be charged to the customer for the borrowing. |
Making payments using an international debit or credit card | The Program Manager or Cobrand enables the customer to make payments using an international debit or credit card. |
Making payments using a local debit or credit card | The Program Manager or Cobrand only enables the customer to make local payments using a local debit or credit card. |
Replacing a card | The customer requests a replacement of a card that was lost, stolen or damaged. |
Sending money in Euro to other accounts in the Single Euro Payments Area | The Program Manager or Cobrand transfers money, in Euros, on the instruction of the customer, from the customer's account to another account in a SEPA country. |
Sending money in other currencies to any other account | The Program Manager or Cobrand transfers money, in non- euro currencies, on the instruction of the customer, from the customer's account to another account. |
Receiving money – Euro | The customer receives money in Euros from Euro account |
Receiving money – other currencies | The customer receives money in non-Euro currencies from non-Euro account |
Arranged overdraft | The Program Manager or Cobrand and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer. |
Direct Debit | The customer permits someone else (recipient) to instruct the Program Manager or Cobrand to transfer money from the customer's account to that recipient. The Program Manager or Cobrand then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary. |
You have the right to cancel your agreement with us after you have submitted a Transaction. This right of cancellation continues until fourteen days after you have submitted the transaction, or until we have completed the contract by paying the Pay-out Amount to the Recipient, whichever is comes first. If you exercise your right to cancel under this clause, we may apply a cancellation charge.
We will consider your written request for a refund (submitted by email, or by mail using the contact information at the bottom of these Terms and Conditions) if you provide the Sender’s full name, address, and phone number, together with the Transaction identification number, Transaction Amount, and the reason for your refund request.
Any refunds will be credited back to the same Payment Instrument/Method used to fund the Transaction and in the same currency. No adjustment will be made for any currency fluctuations which may have occurred in the meanwhile.
If we do provide you with a refund, we will only refund the Transaction Amount only if the Transaction was not paid out to the Recipient. We will not refund any transaction fees for a recipient not. collecting funds or for incorrect information supplied which would not make it possible for us to complete your transaction.
A charge of £30 may be applied which will be deducted from the transaction amount as well as the transaction fee. Note that this charge is incurred by the merchant bank and not by First Union Ltd.
We aim to provide you with the highest standards of service. However, there may be occasions when our service does not meet your expectations but telling us about it gives us a chance to fix things.
We want to:
● Make it easy for you to raise your complaint
● Listen to your complaint
● Consider how you would like us to remedy your complaint
● Make sure you are satisfied with how your complaint was handled
● Ensure lessons are learned, if possible, to minimise the chance of a complaint re- occurring
By email: info@orenda.finance
Please provide us with as much information as possible when making your complaint. This will help us to understand the issue and resolve it quickly. Please include:
● Your name and address
● Your account details
● A description of your complaint and how it’s affected you
● When the issue happened
● Your contact details and how you would like us to contact you
Acknowledgment | Our aim is to resolve your complaint as quickly as possible but you will receive a response from us within 2 business days so you know we have received your complaint. This will contain your complaint reference number for your records and will help us find your information quickly should you need to contact us. |
15 business days | In the majority of cases, we will be able to resolve your complaint within 15 business days. If we have not resolved it within 15 business days, we will contact you to update you on the progress and tell you how much longer we anticipate it will take. |
Up to 35 business days | We will continue to keep you informed in writing and let you know when you should expect to hear from us.
Although we have up to 35 business days, we will send you our final response as soon as we complete the investigation into your complaint.
In the unlikely event we have not been able to finalise our investigation by the end of 35 business days, we will send you a final response communication and advise what next steps you can take. |
You can refer the problem to the issuer of your account or card (TPML).
If you don’t agree with our response and you wish to take it further, in the first instance you should contact the TPML’s Complaints Department by writing to complaints@transactpaymentslimited.com for further assistance.
In the unlikely event that TPML are unable to resolve your issue to your satisfaction you have the right to refer your complaint to the Arbiter for Financial Services at the following address:
Office of the Arbiter for Financial Services, 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta (Telephone+ 356 21249245, Website: https://financialarbiter.org.mt )
If you have not contacted TPML, the Arbiter for Financial Services will ask you to contact them in the first instance, to give TPML a chance to put things right.
Online fraud is any type of fraudulent activity that uses the internet.
This includes scams designed to steal your money, personal information, or both, through websites, emails, social media, and other online platforms.
Payment fraud is a serious issue that affects individuals and businesses alike. It involves any type of fraudulent or illegal activity where someone uses stolen or fake payment information to obtain goods, services, or money.
APP (Authorised Push Payment) fraud is when criminals trick you into voluntarily sending money to their account by pretending to be a legitimate person or organisation. To avoid it:
● Verify the recipient's details before sending money.
● Be wary of urgent requests for money.
● Don't be pressured into making a payment.
● If a deal seems too good to be true, it likely is a scam.
● If you are asked to send money to a new account, that you have not sent money to before, verify that account before sending funds.
Common types include:
● Phishing: Fraudulent emails, texts, or calls tricking you into revealing personal or financial information.
● Skimming: Criminals illegally copying card data at ATMs or point-of-sale terminals.
● Account Takeover: Criminals gaining access to your online banking or e-money account.
● Malware: Malicious software that steals your data.
● Authorised Push Payment (APP) Fraud: Tricking you into sending money to a criminal.
Most common types include:
● Romance scams. The fraudster preys on the victim's need for affection by establishing an online romantic relationship through social media or dating platforms, to later persuade them to send money to the fraudster.
● Investment scams: The scammer sets up a fake investment website promising easy and high returns with little or no risk. When the victim deposits the money, it becomes clear that such a return never existed.
● Advance fee scams: The fraudster sends an email or letter to the victim stating that there is a large sum of money, for example that the victim has won a lottery or an inheritance, but there are some fees that must be paid before the large sum is released.
● CEO scams: The fraudster poses as the victim's boss or senior manager and convinces them to make an urgent payment or change payment details for a contract or supplier. The fraudster gains access to the company's business email account through hacking or spoofing.
● Mule accounts: In this case, the fraudster convinces genuine individuals to act as 'money mules' for him, most often by paying the victim a portion of the fraudulently obtained funds. The 'mules' may be duped or willing to accept payments into their own e-money accounts from (unknown to them) stolen cards/accounts. They are then instructed to transfer the funds to an account under the fraudster's control.
● Gift card scams: gift cards are similar to cash and scammers exploit this by contacting victims with urgent situations, instructing them to purchase gift cards from specific stores, and providing the card numbers and PINs to access the loaded money, resulting in permanent loss of money for the victim.
● Deepfake: voice fraud is a relatively new method of attack but one that has proven highly effective. As the name suggests, a criminal fakes the voice of somebody else with software that can successfully copy his/her voice via a small audio sample.
● Employment scams: Scammers target job seekers, offering fake employment opportunities or requiring payment for job applications, pre-employment checks, or training.
Key measures include:
● Never share your PIN, passwords, card details, or CVV/CVC code.
● Never share personal documents like passports, national IDs, driving licenses.
● Be cautious of unsolicited emails, texts, or calls asking for personal information.
● Use strong, unique passwords for all your online accounts.
● Regularly check your account statements.
● Keep your devices operating systems, antivirus and anti-malware software up to date.
● Be wary of suspicious websites and online offers.
● Be cautious about online stores where you use your card details. Do some research online before completing your purchase to make sure the website or app is legitimate.
● Enable two-factor authentication (2FA) wherever possible.
● Only use trusted Wi-Fi networks when using your accounts or making purchases.
● Be very sceptical of anyone asking you to transfer money urgently.
Contactless card fraud occurs when criminals use stolen cards or devices to make small, unauthorized contactless payments. To prevent it:
● Regularly check your statements for unauthorized transactions.
● Consider setting a limit on contactless payments.
● Keep your card safe and secure.
● If your card is lost or stolen, report it immediately.
Phishing involves criminals sending fraudulent messages that appear to be from your payment services provider. These messages often ask for your login credentials, card credentials, personal information, or to click on malicious links.
2FA gives you twice the protection over your emails and social media accounts, which are common entry points that fraudsters try to exploit to get access to your e-money accounts and cards. So even if cyber criminals have gained access to your password, they can't access your email or social media account if they don’t have access to the second factor. For example, getting a code sent to your mobile phone when you sign in using a new device or change settings such as your password. This control will not trigger every time you check your email or social media account.
Immediately contact us.
● Change your passwords and PINs.
● Report the incident to the police or relevant authorities.
● Keep a record of all communication and actions taken.
Immediately report the loss or theft to us.
● Request a new card.
● Check your account for any unauthorized transactions.
● Europol’s website - Payment Fraud | Europol
● Stop Scams UK - Home - Stop Scams UK
● Action Fraud - Action Fraud
● The UK International Consumer Centre - Common Scams | UKICC - The UK International Consumer Centre
● Crime Prevention – Malta Police - Crime Prevention | The Malta Police Force
● The European Banking Authority (EBA) website - Frauds and scams | European Banking Authority
● National consumer protection agencies.
When you visit a website, it may store or retrieve information in the form of cookies on your browser. This information may pertain to you, your choices, or your device, and is mostly used to ensure that the site functions as expected. Although the information normally does not directly identify you, it can help you have a more personalised web experience. You can choose not to allow some types of cookies because we respect your right to privacy. To learn more, see below various category headings. However, disabling certain types of cookies may have an impact on your use of the site and the services we may provide.
These cookies are required for the website’s operation and cannot be disabled in our systems. They are normally only set in response to actions you take that constitute a request for services, such as changing your privacy choices, logging in, or filling out forms. You can set your browser to block or notify you when these cookies are set, but certain features of the site will not function as a result. These cookies do not store any information that can be used to identify you.
These cookies enable us to track visits and traffic sources so that we can measure and improve our site’s performance. They assist us in determining which pages are the most and least popular, as well as observing how visitors navigate the site. All data collected by these cookies is aggregated and thus anonymous. We won’t know when you visit our site if you don’t accept cookies, and we won’t be able to track its performance if you don’t allow them.
These cookies allow the website’s operation and customization to be improved. They could be set by us or by third-party companies whose services we’ve integrated into our pages. Some or all of these services may not function properly if you do not allow certain cookies.
Our advertising partners may set these cookies through our site. Those companies may use them to create a profile of your interests and show you relevant ads on other websites. They are based on uniquely recognising your browser and internet device, rather than directly storing personal information. You will see less tailored advertising if you do not allow these cookies.