These Terms and Conditions (“terms”) are the terms on which Kaf International Payment Business Ltd and Equals Money PLC (“We, Us, Our”) supply products and/or services (collectively “services”) to You. In these Terms and Conditions “You, Your” means the account holder of the products and/or services supplied by Us.
Under an agreement with Kaf International Payment Business Ltd (“Business”), We have agreed to provide You with card and payment services. Kaf International Payment Business Ltd is a program partner and is not a financial services provider. You may have a separate agreement with Business which will govern the terms of the relationship between You and Business. We are not a party to that agreement.
In the event of a conflict between these terms and Your agreement with Business, the provisions set forth here shall prevail.
Equals Money PLC is authorised by the Financial Conduct Authority to provide payment services (FCA No. 488396) with its registered office address at Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ, United Kingdom.
Use of Our services by You is provided on the basis of the following terms and conditions.
The definitions and rules of interpretation in this clause apply in these terms as follows:
In some sections, you will have different rights under these terms depending on whether you are a business or a consumer.
If you are a business, these terms (together with the Order) constitute the entire agreement between us in relation to your Order.
You acknowledge that you have not relied on any statement, promise, representation, assurance, or warranty made or given by or on behalf of us which is not set out in these terms, and that you shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this agreement.
This agreement is between you and us. Any employee or person that you authorise to use our services must be 18 years or over to use our services. An Authorised User must be your employee or contracted associate. You confirm that you have given all employees who will use our services the authority to bind your business or entity. We reserve the right to seek confirmation that an employee has suitable authority where we deem this appropriate.
For individual users, you must be at least 18 years old to use our service, and by using our services, you confirm that you have the legal capacity to enter into an agreement and be bound by the terms of service.
You warrant that Authorised Users will only use the services for the specific purposes required by you. Where appropriate, you will issue a Policy to each Authorised User detailing the permitted use of our services.
Your use of our services must not violate any applicable laws and in particular The Acts. You warrant to us that your use of our services does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section.
The services include the provision by us to you of either a virtual or physical card, which may be used for purchases. The physical card shall be co-branded between us and the Business.
We are registered with the Financial Conduct Authority (“FCA”) as an Authorised Payment Institution (reference number 488396).
Our staff are fully conversant with anti-money laundering and counter-terrorist financing guidelines and are aware of their responsibilities in monitoring and reporting any actions that raise suspicion or give cause for concern.
We reserve the right to perform identity checks in accordance with these terms on all individuals or authorised users who place an Order. By law, we must check your identity and perform relevant checks on your business. We will do so by searching your record at identity authentication companies and fraud prevention agencies. The agencies will keep a record of our search. We may use an automated scoring system as part of our verification process, or we may ask you for documentary evidence. We may also need to visit your business premises. These checks are in accordance with the MLR 2017. If we suspect that you have given us false or inaccurate information, we may record our suspicions at fraud prevention agencies and may pass information about you to law enforcement agencies without further notice to you.
You confirm that we may share such information as is necessary with any third party, including the Business, for your onboarding as a customer as well as to provide such information as is reasonably necessary to the Business to facilitate the Business’s performance of its own contractual obligations to you under any relevant agreement that you have with the Business.
We are obliged by law to monitor and report any unusual or suspicious transactions of any size taking place where we have reasons to believe the money is derived from unlawful or illegal activity.
We reserve the right at all times to refuse to process any Order or terminate any Contract which we believe, in our sole discretion, is connected in any manner to any unlawful or illegal purpose.
There is a statutory obligation on all our employees and their agents to report suspicious transactions to UK law enforcement agencies. Where any such report is made, we accept no liability for any delay in transmission of or confiscation of the funds.
In the event of there being a shortfall on Your account, We will seek reimbursement of the shortfall from You immediately. We will seek to transfer the shortfall amount from any other account that You have with Us, from another payment method that You may nominate at that time, or from any funds that You subsequently pay into Your account. Until the shortfall has been paid, We reserve the right to suspend Your account.
Normally, We will give You 60 days’ notice before closing Your Account. However, We can close Your Account immediately if We suspect fraud or misuse of the Account, if You or Your employees act in a threatening or abusive manner to Our staff and representatives, if You are in breach of these terms and conditions, if We have security concerns, or if required by law. We will inform You of the closure as soon as We can where We are permitted to do so by law.
Should You terminate Your agreement with Business, We will take that as an instruction that this agreement should also cease. If You do not wish to end this Agreement, contact Us via email at [email protected] or phone on +44 20 4577 2121.
We shall use reasonable endeavours to ensure that any dated information contained or reproduced on the Website and App is up to date at the stated date of its publication.
All intellectual property and materials comprising or contained in the Website and App are owned or licensed by Us unless otherwise expressly stated.
You are entitled to access the Website and App for the purposes of accessing the facilities offered by Us. You may not use in any way directly or indirectly the Website and App or any of its components for any other purpose. The materials contained on the Website and App may not be copied or redistributed for commercial purposes or for compensation of any kind without prior written permission from Us.
This clause applies if You use Our Electronic Platform or such other platform We may elect for Our customers to use from time to time.
Upon Our approval of Your request to access the electronic platform, We grant You (and Your Authorised Users) a non-exclusive, non-transferable licence to use the electronic platform.
You acknowledge that due to the nature of the internet and electronic communication, there is a risk that communications may not operate free from error or interruption. We shall not be liable for:
Any downtime necessary to carry out essential maintenance or upgrading of Our platform.
There is a significant and increasing risk posed by cyber fraud, specifically with the interception of email accounts and bank account details.
Please ensure that You and Your employees are extra vigilant when making payments and ensure You are only making payments to bank details You have been provided with from Us. We are not responsible for any losses You incur as a result of either fraud by You or Your employees or gross negligence by You or Your employees.
You will notify Us immediately if You have concerns about the security of Your access to the Electronic Platform, including but without limitation where You have been the victim of a cyber-attack or some other form of data breach. We will not be responsible for any losses You incur which were suffered after such time as You reasonably ought to have brought any such data compromise to Our attention.
For confirmation of such details, please contact Us or verify through your online account.
The Website and App may contain links to third-party websites. Such links are provided to you for your convenience only.
We have no control over any material which has been published or contained on such third-party websites. We do not warrant the content or accuracy of such third-party websites, nor do we accept responsibility or liability in relation to the content or products offered by or through such third-party websites.
All content shown on the Website and App (and all products and services provided by it) are provided and made available without any warranties, conditions, or guarantees given by us. In particular, we do not warrant the accuracy, suitability, reliability, completeness, performance, and/or fitness for the purpose of the content of any products and services available through this Website and App.
We use reasonable skill and care in providing our products and services to you. However, (to the maximum extent permitted by law) we are not liable to you for any loss, damage, claim, or compensation (including loss of profit or loss of use) arising out of:
Our maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to the contract value.
The disclaimers and limitations of liability in these terms shall not apply to any damages arising from death or personal injury caused by the negligence of us or any of our employees or agents or for fraud.
You warrant and represent to us on a continuing basis that all information that you supply to us is complete, true, accurate, and not misleading in any material respect and that:
You undertake to inform us with immediate effect where the beneficial ownership of your corporation changes by more than 10%, where you change the address of your registered office, or where you appoint a new director.
We process information about you in accordance with our privacy policy available on our website. By using the Website and App, you confirm that all data you provide is accurate.
We may provide to the business all account information relating to you, including without limitation transaction data, account numbers, and card numbers as well as payment and FX data.
We may receive information about you from the business to allow us to provide you with the services. We will process this information as if you had provided it directly to us.
You will take commercially reasonable security precautions to safeguard any data relating to the services and to prevent unauthorized third parties from accessing, modifying, or altering such data.
You can contact the business via phone at +44 20 4577 2121 or email at [email protected].
If you are unhappy in any way with your account, please tell us so we can try to resolve the situation. You can complain via email, post, or by calling us at the following details:
We will aim to resolve any complaints within 15 business days of receiving your complaint and in exceptional circumstances within 35 business days. Payment-related complaints may take up to 8 weeks to resolve. You can request our complaints procedure via the details provided.
If we are not able to resolve the complaint to your satisfaction and you are eligible, you may be able to refer it to the Financial Ombudsman Service. Their contact details are:
We are an Authorised Payment Institution (“API”) authorised by the FCA to carry out activities relating to money remittance, operating a payment account, and issuing and/or acquiring payment instruments under authorisation number 488396.
The card is issued to you by Equals Money International Limited (“EMI”), which is authorised by the FCA to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900493).
When you use funds to spend on your card, we will pass these funds to EMI so they can provide you with e-money services.
We and EMUK as an FCA-regulated API and EMI as an FCA-regulated electronic money institution are required to safeguard your funds. This means that when we or EMUK receive money from you for the execution of a payment transaction (“Relevant Funds”), we will take certain steps, including:
As an API and EMI, we are not protected by the Financial Services Compensation Scheme (“FSCS”) but instead are required to safeguard funds as described above. You can read more about how we are required to protect customer funds on the FCA Website.
We may assign the benefit and burden of these terms, or any contract or order, to another company at any time. If we do this, your rights will not be affected.
All use of the website and app, as well as these terms and conditions, is governed by the laws of England and Wales. All disputes arising out of the use of the services or products provided by us, or any dispute relating to these terms and conditions, shall be resolved by the Courts of England and Wales.
Changes to these terms will be communicated to you using the email or postal address that you have provided. Changes to your disadvantage will be communicated to you at least 60 days before the change is effective. At any time up to 60 days from the date of this notification, you may close your account without incurring any extra charges. Any other changes can be made immediately and communicated within 30 days.
You must let us know as soon as possible if you change your name, address, phone number, or email address. If we contact you in relation to any product or service, we will use the most recent contact details you have provided. Any email to you will be treated as received as soon as it has been sent by us. We will not be liable to you if your contact details have changed and you have not notified us.
We may make immediate changes to the exchange rate used to convert foreign transactions into Sterling. For all transactions made in a foreign currency, you can find out what the applicable exchange rate was at the time of the transaction by contacting our Customer Services Team.
Provisions relating to placing the order and when the contract is formed between you and us:
Provisions relating to placing the order and when the contract is formed between you and us:
We reserve the right to ask for further information in order to process your order.
You will be able to correct the details of your order at any time until your order is submitted to us. After that point, you will no longer be able to correct details on your order, so please ensure they are correct at that time.
Submitting your order on the website, app, verbally, or via email will authorise us to action your order. You will not be allowed to cancel it other than subject to section 24.
Should you wish to make any amendments to your order, this will be at our discretion and if we are reasonably able to do so. If you wish to amend your order, please contact us. Any such amendments will be subject to the applicable foreign exchange rates at the time of the amendment.
All orders are subject to acceptance by us, and we will confirm such acceptance to you within the app (on screen or via a downloadable PDF) or by sending you an email that confirms the order has been accepted.
The contract between us and you will only be formed once we show or send you the order confirmation.
We will assign an Order ID to your order, which will be contained in the order confirmation. It will help us if you can tell us the Order ID whenever you contact us about your order.
When making an order, you rely solely on your own judgement. If we provide you with information concerning any matter, including (without limit) the foreign exchange markets, it is on a voluntary (not advisory) basis, and we do not accept responsibility for the accuracy or completeness of such information or assume any duty of care in relation to it.
In entering into a contract under these terms, you understand that:
If your order is received by us after 17:00 GMT on a business day or not on a business day, your order will be deemed received on the following business day.
We will provide the currency to you within one business day after we receive payment in full in accordance with the order.
If our supply of the currency is delayed by an event outside our control, then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay.
We will need certain information from you (e.g., evidence of source of funds, invoice, etc.) so that we can supply the currency to you. We will contact you to ask for this information. If you do not give us this information within a reasonable time of us asking for it or if you give us incomplete or incorrect information, we may either end the contract or make an additional charge of a reasonable sum to compensate us for any extra work that is required as a result. We will not be responsible for supplying the currency late or not supplying any part of it if this is caused by you not giving us the information we need within a reasonable time of us asking for it.
We may have to change or suspend our services to:
We will contact you in advance to tell you we will be suspending the supply of the product unless the problem is urgent or an emergency. You may contact us to end the contract for an order if we suspend it or tell you we are going to suspend it, and we will refund any sums you have paid in advance for the product in respect of the period after you end the contract.
A stop loss order is a conditional order that will become either a spot transaction or forward transaction (in accordance with the contract note) if the target currency sells at or below the specified exchange rate before the agreed deadline (either the agreed date or good till cancelled as specified in the contract note).
A limit order is a conditional order that will become either a spot transaction or forward transaction (in accordance with the contract note) if the target currency sells at or above the specified exchange rate before the agreed deadline (either the agreed date or good till cancelled as specified in the contract note).
We will let you know the applicable exchange rate at the time when you place your order. As long as we receive sufficient money from you by the time specified in clause 23.4, we will convert your money using that exchange rate. We use our best efforts to ensure that the exchange rate advised to you is correct. However, please see clause 23.2 for what happens if we discover an error in the exchange rate of your order.
If there is an error in the exchange rate communicated to you, we will contact you for your instructions before we accept your order. In the event that we are unable to contact you within a reasonable timeframe, we may not be able to accept your order.
We reserve the right to reissue the contract note to correct any inadvertent mistake, error, or omission, and we agree to do so promptly as soon as it comes to our attention.
We accept payment with various methods as confirmed to you in your contract note. When you must pay depends on what type of order you are making:
If paying under the above terms, we will honour the rate and value of the transaction. However, for payments to be sent as same day, earlier cut-off times may apply. We will inform you of this earlier time if it applies when you are setting up your order with us.
The provisions of this clause apply to forward transactions. We may, in our absolute discretion, at any time before or after we agree to enter into a contract, require you to provide us with a Margin. You acknowledge that this money will not generally be covered by the safeguarding requirements in regulation 23 of the Payment Services Regulations 2017 and agree that the principles set out in this clause will apply:
We may also offset any Margin(s) or other monies we are holding in respect of any one of your Orders against any costs, losses, and/or liabilities that we incur in connection with or arising out of any other Order you have with us.
We accept no responsibility in the event that you send currency to any account other than the Client Nominated Account, so you must check that the correct Client Nominated Account is set out in your Order.
All funds provided by you under an Order (whether as security or otherwise) may be appropriated by us if we incur any liability in respect of any transaction or in the event that you are unable to pay sums due to us or breach of these terms.
We may at our discretion make payments to third party introducers. We will not be obliged to pay you interest on any Margin or client money held by us on your behalf. You must pay all amounts due to us under these terms in full without any set-off, counterclaim, deduction, or withholding (other than any deduction or withholding of tax as required by law).
We are not a currency trading platform. Accordingly, you should not use our services for this purpose (including sending us multiple Orders without the intention of completing all the Orders). If we detect that you are using our services for this purpose, we may at our discretion set a limit on the number of Orders you may send to us or refuse to accept any further Orders from you.
Under Section 11 (1) of the Financial Services (Distance Marketing) Regulations 2004, you do not have any right to cancel any Contract.
You may have a right to end the Contract depending on what you have bought, whether there is anything wrong with it, how we are performing, and when you decide to end the Contract:
If you are ending a Contract for a reason set out at (a) to (e) below, the Contract will end immediately and we will refund you in full for any products which have not been provided. The reasons are:
Even if we are not at fault, you may still be able to end the Contract before it is completed but this may be subject to deductions and/or you may have to pay us compensation. A Contract for services is completed when we have finished providing the services and you have paid for them. If you want to end a Contract before it is completed where we are not at fault, just contact us to let us know. If this is possible, the Contract will end and we will refund any sums paid by you for products not provided, but we may deduct from that refund (or if you have not made an advance payment, charge you) reasonable compensation for the net costs we will incur as a result of your ending the Contract.
Please contact us via phone at +44 20 4577 2121 or via email at [email protected].
We may end the Contract if you break it. We may at any time end the Contract for an Order and/or close out all or part of any Order from the market and/or amend the Order to reflect a change in the exchange rate by writing to you if:
If we end the Contract in the situations set out in clause 26.1, we will refund any money you have paid in advance for products we have not provided, but we may deduct or charge you reasonable compensation for the net costs we will incur as a result of your breaking the Contract.
Both parties recognize that Orders that are activated are filled at the best possible rate and on a best efforts basis and are not guaranteed at the rate at which they are entered. There is therefore a risk that such Orders may be executed on less advantageous terms.
It should be recognized that any Order is entered at your risk and that we shall not be liable for any errors in such payment requests entered by you. Should any errors occur due to the incorrect inputting of data by you, we shall endeavor to retrieve such funds (but make no guarantee that we will be able to) on the basis that any costs incurred in this retrieval shall be paid by you (whether or not such retrieval is successful). We shall not be liable for any loss of interest or any subsequent cost or loss as a result of the Order being misdirected to the incorrect recipient.
Orders given by email or other internet communication are not secure and are sent at your own risk. Where an Order received by email or other internet communication is later found to be incorrect or to have been intercepted by a third party and altered, the liability for any loss resulting from such incorrect or altered Order shall remain with you.
We shall not be liable to you whether in contract, tort (including negligence), breach of statutory duty, or otherwise for any loss of profit or any indirect or consequential loss, management time, contracts, goodwill, and anticipated savings, even if such loss was reasonably foreseeable arising under or in connection with any contract between us.
We shall not be liable for any claim that arises as a result of currency fluctuation between the Order Confirmation and the Value Date or as a result of your non-compliance with these terms or caused by the failure or delay of any third party in the transmission, provision, or delivery of any service.
You will be liable for any losses incurred in respect of:
Our total liability to you for all other losses arising under or in connection with any contract between us, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall be limited to £500,000.
You will indemnify and keep us indemnified against all losses and liabilities (including without limitation legal costs) incurred by us in the proper performance of your Order or in the enforcement of our rights hereunder and in particular losses and liabilities incurred as a result of:
You warrant and represent to us on a continuing basis that all information that you supply to us is complete, true, accurate, and not misleading in any material respect and that:
In this section, “Card” means the IPB PAY Mastercard® Card, which is co-branded with IPB PAY Business scope. Except where specifically stated, “Cardholder” means you and the Authorised User of the Card.
The Card can be used at any location that displays the Mastercard Acceptance Mark. Before using any Card issued to you, you need to make sure there are enough funds credited on it. The Card is not a credit card and is not connected to a bank account. The Card is an electronic money (e-money) device. You are not entitled to receive any interest on any funds held on the Card.
To receive a Card, the Authorised User must be at least 18 years old.
When you receive your Card, we may ask you to activate it following the procedures outlined in clauses 32 or 33 before using it to make transactions.
You will need to activate any Card by logging into your account via the website or app and viewing the Card details before you or your Authorised User will be able to use it. The Cardholder will receive a PIN for use with the Card, which can be changed by logging into your account via the website or app to a more memorable number and then completing the change via an ATM.
You or the Authorised User will need to activate the Card by logging into the account via the website or app and viewing the Card details before the Card can be used.
You will be able to add and remove money from the balance or balances associated with the Card via the website or app to be spent once the Card has been activated. You will be able to view any transactions made on the Card against an associated balance. We reserve the right not to accept any moving of money between balances.
We will deduct the value of your transactions from the balance on the Card as soon as they are made. We will also deduct any applicable fees as soon as they are payable. See below for details of all fees associated with the Card. If sufficient funds are not credited on your Card at the time of a transaction to cover the amount of the transaction and the fees, the transaction will be declined.
If you wish to cancel the Card, you can update the status immediately through the platform or by contacting us. If the Card is cancelled, we will immediately block it so it cannot be used. You must destroy it securely by cutting it up, making a clear cut directly through the Card chip and signature strip (if present).
You will not be entitled to a refund of money already spent on transactions authorised or pending or any fees for use of the Card before the Card is cancelled or expires. If you cancel the Card, you can transfer any unused funds to another Card once all transactions and fees have been deducted. Alternatively, you can request we arrange for any unused funds to be refunded to you for a fee (see fee table below). You will have no right to receive a refund.
You must tell us immediately if a Card is lost or stolen. We will not be responsible for any losses after the time when you reasonably ought to have brought the loss or theft of the Card to our attention.
We may also cancel your Card immediately if we suspect fraud or misuse of your Card, if we have any other security concerns, or if we need to do so to comply with the law. If we do this, we will tell you as soon as we can after we have taken these steps if permitted to do so by law.
When the Card expires, it will no longer be valid and the Authorised User will no longer be able to use it. We will arrange for the balance of funds to be transferred to a new Card after deducting any outstanding transactions and fees. However, we will not issue a new Card if you tell us in writing at least 28 days before the Card expires that you do not wish us to replace the Card.
In the event that you terminate your contract with Business, we will discuss with you whether you require this Agreement and if you no longer require our services, then we shall be entitled to terminate this Agreement by giving 30 days’ notice in writing. Upon termination, all excess funds that we hold will be repaid to you after any period in which we consider that we may be at financial risk in relation to the transactions which you processed.
The Authorised User must keep the Card safe and not let anyone else use it. If someone else uses the Card before the Authorised User has advised that it is lost or stolen, the maximum amount that you will be held liable for is £35.00 provided that you have not acted fraudulently or without reasonable care.
You should check the online account and Card statement regularly. If there is an entry which seems to be wrong, you should tell us as soon as possible so that we can investigate it. During our investigation, you should cooperate with us and with the police if we need to involve them.
If the Authorised User loses the Card, it is stolen, or you suspect that it has been used by someone other than the Authorised User, you must inform us immediately by calling +44 20 4577 2121 during business hours so that we can cancel the Card. Alternatively, mark the Card as lost or stolen via our app or the website.
We cannot guarantee that a retailer will accept the Card or that we will necessarily authorise any particular transaction because of a system problem, events outside our reasonable control, or because we are concerned about misuse of the Card. Accordingly, we shall not be liable if a retailer refuses to accept the Card, if we do not authorise a transaction, or if we cancel or suspend use of the Card.
Unless otherwise required by law or previously stipulated in these terms, we shall not be liable for any direct or indirect loss or damage you may suffer as a result of the total or partial use of or inability to use the Card or as a result of the use of the Card by any third party.
If the Authorised User does not use the Card in accordance with these terms or if we find that the Authorised User is using the Card fraudulently, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop the Authorised User using it and to recover any monies owed as a result of the Authorised User’s activities.
In the unlikely event for any reason whatsoever that a transaction is authorised when there are insufficient funds on the Card for that transaction (a shortfall), the shortfall shall be reimbursed by you immediately. If it is due to an error on the part of the retailer, we may seek the shortfall from the retailer. You agree that once we make this shortfall known to you, we may charge for the shortfall amount. Until you reimburse the shortfall amount, we may suspend the Card or your account.
The Authorised User may not request a refund of any funds left on the Card. The balance on the Card remains the property of you and only you can request a refund.
| Fee Type | Amount/Details |
|---|---|
| Monthly Account Service Fee (Individual) | £4.90 |
| Monthly Account Service Fee (Corporate) | £25 |
| Individual Card issue fee | £15.00 |
| Corporate Card Issue Fee | £25 |
| Card to Card transfer | Free |
| Internal Transfer | Free |
| Transfer via SEPA and Faster Payment | £1 |
| Receiving money via SEPA and Faster Payment | £0.50 |
| Sending money in other currencies via SWIFT | £30 |
| Receiving money via SWIFT | £20 |
| Account loading via card or alternative payment methods | 2.50% |
| UK point of sale transaction fee | Free |
| International point of sale transaction fee | £0.50 + IC+ |
| Out-of-currency fee | A 1.4% currency fee applies when a transaction is made in a currency other than those available on the Card. Please see the website for the latest currencies available on the Card. |
| UK ATM transaction fee | £1.50 - Please note that some ATMs may apply an additional surcharge. This is outside of the control of IPBPAY and you will be notified before authorising the transaction. |
| International ATM transaction fee | £1.60 |
| Over the counter bank branch withdrawal fee | 1.6% of the transaction value subject to a minimum fee of £5.00 |
| Customer service telephone enquiries | Standard call charges apply. |
| Lost and stolen Card replacement fee | Free |
| Dispute administration fee | £10.00 per disputed transaction (this may be refunded in certain circumstances) |
| Chargeback fee on active Cards | £10.00 - Currency is exchanged at the prevailing rate at the time of the refund |
| 24 month dormancy fee | If you have not completed at least one transaction on any Card linked to the account within the last 24 months, monthly fees of up to £50 will be charged to any positive account balance. |
If we decide to increase or impose any new fees, We will tell You by email or post, at least 60 days before any changes take effect.
You must let us know as soon as possible if any Authorised User changes their name, address, phone number, or email address. Please be aware that the Authorised User may have to provide supporting documentation before we are able to make the changes. If we contact you or the Authorised User in relation to the Card, for example, to notify you or the Authorised User that we have cancelled the Card, we will use the most recent contact details provided to us. Any email to the Cardholder will be treated as being received as soon as it is sent by us. We will not be liable if the Authorised User’s contact details have changed and you have not told us.
If you have any disputes about purchases or the amount you have been charged by the company or person you bought goods or services from, you should settle these with the company or person involved. We are not responsible for the quality, safety, legality, or any other aspect for any goods or services purchased with the Card.
Once you have used the Card to make a purchase, we cannot stop that transaction.
If you or the Authorised User suspect that the Card has been compromised or used fraudulently, we may be able to dispute the items on your behalf. We will under no circumstances be liable for transactions if the Card has been knowingly used by another person or if you or your employees have disclosed the PIN to anyone.
We will not be liable for any transactions made when a Card has been credited during ongoing disputed transactions. All expenditure should be accounted for before a Card is credited with funds.
Should you wish to dispute a transaction, you need to inform us as soon as possible. We will not be able to assist with a dispute should the transaction be greater than 120 days old.
You have 13 months to notify us of any unauthorised payment transactions on your Card.
Only the named Cardholder should use the Card provided to them. If the Cardholder has been issued with a Card that is not in their name, you will not be able to raise a chargeback to claim back funds in the event of a dispute with a merchant or fraudulent transaction.
At IPBPAY, we are committed to protecting your privacy and securing your personal data. This section of our Terms and Conditions outlines the mobile security features we implement in our mobile application, provided by Kaf Technology, and our compliance with the General Data Protection Regulation (GDPR) and other relevant laws. By using our application, you agree to these terms.
To ensure the highest level of security for your data and transactions, our mobile application integrates the following protection measures, powered by Kaf Technology:
You agree to take the following precautions to protect your account and personal data:
In the unlikely event of a data breach, we will notify the relevant supervisory authorities as required by the GDPR. If a breach is likely to result in a high risk to your rights and freedoms, we will also inform you promptly.
We reserve the right to update or modify these terms at any time. Any changes will be effective immediately upon posting the revised terms on our application. Your continued use of the application constitutes your acceptance of the updated terms.
For any questions or concerns regarding these terms or the security of our mobile application, please contact us at [email protected].