These Terms & Conditions apply to your Monese account and Visa debit card (if you signed up before 15th September 2016 these Terms & Conditions apply from 15th November 2016 onward. You can download a copy of the previous Terms & Conditions from https://www.monese.com/terms20160314). Please read them carefully. You can download a copy of these Terms & Conditions at any time from our website (www.monese.com).
Monese is a business registered in the United Kingdom with company number 8720992. We are registered by the FCA as a small electronic money institution (number 900188). Your Monese account and card is issued by Contis Financial Services Limited, Navigation House, Belmont Wharf, Skipton, North Yorkshire, BD23 1RL, which is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (registered number 900025) as an e-money issuer. Your Monese account and card may be distributed by a third party on our behalf.
In these Terms & Conditions:
“Agent” means Monese Ltd who is incorporated in England and Wales (number 8720992) with registered and trading addresses at Salisbury House, London Wall, London EC2M 5QQ.
“You” means the named cardholder being the authorised user of the Monese account and Visa debit card and any Additional Cardholder.
“We”, “us” or “our” means Contis Financial Services Ltd or the Agent acting on our behalf.
If you have any questions you can contact Support Team (open Mon-Fri 8am-5pm UK time) by:
A Monese card is a prepaid Visa debit card that can be used worldwide wherever Visa is accepted. It can be used online, in shops, over the phone or to withdraw cash from an ATM.
You can use your online Monese account to make transfers to other bank accounts globally.
You can only spend money that you have paid into your account, so before making transfers or using your card you need to make sure there are enough funds in the Monese account. Monies in the Monese account are not bank deposits and do not earn interest.
You must be at least 18 years old and live in the European Economic Area (EEA) to be issued with a Monese account and card. You must not open duplicate accounts for the same user. If duplicate accounts are detected, we reserve the right to close all your accounts or merge these duplicate accounts without notification.
You can apply through our mobile app.
Before we can open an account for you and issue you a card we may require evidence of your identity and residential address and we may also need to carry out checks on you electronically.
Monese Account is free of monthly fees during the 30 days trial period. After the end of any trial period, the monthly fee will be debited from your account each month in advance for the upcoming monthly period. The fee period is based on 30 consecutive calendar days and a 360-day calendar year. For example, if your trial period ends on July 5th, the monthly fee will be charged on the same day and then recurring on the 5th date each month. If you have less than the monthly fee on your Account the monthly fee and the fee period will re-start when funds arrive.
By opening an Account you agree to pay the fees below to Monese. You are required to retain sufficient money on your Account so that Monese can debit all fees & charges and other unpaid amounts (including arrears).
Monthly fee £4.95 includes:
0.5% of the transaction value
Limited Monese Account
Full Monese Account
As soon as you receive your card you must sign the signature strip on the back.
You will then need to activate your card. You can do this:
You also need to obtain your PIN to authorise chip-and-pin transactions and ATM withdrawals. You can get your PIN from the mobile app when you activate your card.
By signing up you are agreeing to these Terms & Conditions. Your card must be activated within 3 months of it being issued or it may be automatically cancelled and your account may be closed.
If you have ordered a card for someone else, it is your responsibility to give them the information required to activate the card and retrieve the PIN. If they start using the card we will take this as confirmation that you have communicated these Terms & Conditions to them and that they have accepted them.
If you want to change your PIN, you can do so at any ATM with the Visa logo in the UK. You can get a reminder of your PIN from the mobile app.
You may pay in to your account by transfer from an authorised bank or financial institution, by cash at PayPoint retailers and any other method notified within the mobile app or on our website from time to time. You cannot pay into your account by a balance transfer from a credit card. You may only pay in funds up to your maximum account balance.
A fee may apply for each payment into your account through a PayPoint retailer, please refer to the Fees and Limits table (section 4). Certain minimum and maximum limits and usage requirements apply to your account and card; such limits and requirements are detailed in the Fees and Limits table. We reserve the right to refuse to accept any particular payment if we suspect any fraudulent activity or in the event of other exceptional circumstances.
As soon as we receive the funds that you have paid in, they will be on your account and ready to use. There may be occasions when we delay the funds reaching your account for up to three working days, this may happen when we need to confirm the transaction with the sending bank.
You are responsible for ensuring there are enough funds in your available balance for us to authorise your transactions.
For card transactions, the first step will be to follow the instructions of the merchant or ATM to authorise a transaction. A transaction is authorised when you:
Like other payment cards, we cannot guarantee a retailer or ATM will accept your card.
An account transaction is authorised by you when you access your online account using your personal security details and submit a transaction request.
As soon as a transaction is authorised we will deduct the value of your transaction from the balance on your account. At the same time we will deduct any fees that apply to the transaction. See the Fees and Limits table (section 4) for more information.l
Once we have received authorisation for a transaction we will transfer funds to the retailer within 3 days. A transaction will be received as follows:
Generally, authorisation for a transaction may not be withdrawn by you. However, you may be able to withdraw your authorisation where you have authorised a transaction which will take place on a future date. In this situation, to withdraw your authorisation, you must notify the retailer before the close of business on the business day before the day on which the transaction was due to take place and provide us with a copy of the notice. We may charge you an Administration Fee if a transaction is revoked by you under this paragraph (see the Fees and Limits table (section 4)).
Your account is denominated in British Pounds Sterling. If you make a card purchase or an ATM withdrawal in any other currency we will convert the sum into pounds sterling using the exchange rate set by Visa Europe wholesale rate on the day they process the transaction, this may differ from the actual date of the transaction. A currency exchange fee will apply to each of these transactions (see the Fees and Limits table (section 4).
Any changes to the exchange rate used to convert foreign transactions will be made immediately. You can find the exchange rate for a transaction made in a currency other than pounds sterling on a given date at: http://www.visaeurope.com/en/Cardholders/exchange_rates.aspx.
If you transfer funds from your account in any currency other than pounds sterling we will convert the sum into base currency using an exchange rate set by us on the day we process the transaction. A currency exchange fee may apply to each of these transactions (see the Fees and Limits table (section 4)). We will use the wholesale rate on the day and at time of the relevant transaction. You will be notified of the relevant rate in the mobile app prior to approving the transaction.
You may not use your card for illegal purposes. It also cannot be used for a limited number of specified transactions. Please see our website www.monese.com for details.
You can check your account by accessing it securely on your mobile app. Your statement will show:
Your card will be valid for 3 years. You will not be able to use your card after its expiry date. This agreement shall terminate when your card is cancelled or expires and is not replaced.
You can only spend the money that is paid into your account. Limits also apply to daily ATM withdrawals, and other limits may be applied to the amount of spend and the number of transactions you can perform. See the Fees and Limits table (section 4) and our website for further details.
If, for any reason, the transaction is completed when there are insufficient funds in your account then you will have to reimburse the shortfall to us, unless it is due to an error by the retailer with whom you made the transaction.
We may collect this shortfall from any card you have with us or from any funds which you subsequently pay into your account. We may suspend your cards until the negative balance is restored and charge you an Administration Fee (see the Fees and Limits table (section 4) for transactions that you make using your card that results in a negative balance or increases the negative balance on your account.
If you dispute a transaction that has been processed on your card you should contact the merchant first as this may lead to the quickest resolution. If the dispute cannot be resolved with the merchant you should contact us as soon as possible and at least within 13 months of the date of the transaction. We will refund the amount of any transactions that our investigations show were not authorised by you, provided you have acted with reasonable care, kept your card secure, not disclosed your PIN or security details to anyone else and not acted fraudulently. We may charge you an Administration Fee for charging the transaction back to the retailer through the Visa system.
You may be entitled to claim a refund in relation to transactions where:
You should treat your card like cash. If it is lost or stolen, you may lose some or all of your money on your card, in the same way as if you lost cash in your wallet or purse. Therefore, you must keep your card safe and not let anyone else use it.
You must keep your account and card security information secret at all times; never disclose your security information to anyone. Security information includes your PIN, your login and passcode details used to access your account, your security questions or any other website where your card details are stored. We also recommend that you check the balance on your account regularly on your mobile app or by contacting Support Team.
If you lose your card or it is stolen, or you suspect that someone else has found out your PIN or password, you must tell us immediately by calling us or logging onto your account and notifying us. Your card will be cancelled immediately. We run a dedicated line for lost or stolen cards; the number is 01756 693275 and calls are charged at the standard geographical rate. If, after reporting a lost card, you subsequently find the card you must not use it. Cut it in half through the signature box, magnetic strip and chip.
If you ask us to do so, and provided that you provide information and assistance that we request from you, we will investigate any disputed transaction or misuse of your card.
If the investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence (for example by failing to keep your card, security details or PIN secure or by failing to notify us without delay on becoming aware of the loss, theft, misappropriation or unauthorised use of the card), then we will not refund the transaction amount and will charge you an Investigation Fee. If the investigations show that you have not acted fraudulently or with gross negligence, your maximum loss or liability to us for any unauthorised transaction will be limited to Investigation Fee and we will refund the amount of any transactions entered into after we receive your notification.
We may refuse to pay a transaction:
If we refuse a transaction, we will tell you why via email immediately, if we can, unless it would be unlawful for us to do so. You may correct any information we hold and which may have caused us to refuse a transaction by contacting Support Team.
You have a legal right to cancel your card up to 14 days from the date you order it without incurring any penalty. You should also cut your cancelled card in half through the signature box, magnetic strip and chip.
You will not be entitled to a refund of money you have already spent on transactions authorised, or pending or any fees for use of the card or account before the card is cancelled or expires.
We may cancel your account and card and this agreement by giving you at least 60 days’ notice. Reasons for cancellation may include:
We may also cancel your account and card immediately if we:
If we cancel your account and card immediately, we will tell you as soon as we can if we are permitted to do so.
In these circumstances, you must tell us what you want us to do with any unused funds. You must do this within 3 months of the date we tell you that your account and card is cancelled.
You can clear the balance on your account through spending, ATM withdrawals, or transfers to other bank accounts. See the Fees & Limits table (section 4) for the fees that would apply.
Alternatively, you may request a refund of the funds on your account by contacting Support Team and confirming that your card has been destroyed by cutting it up. We will transfer your funds back to you at no cost to you, unless:
If one of these situations does apply then we will charge a Redemption Fee (see the Fees and Limits table (section 4).
We will not redeem the value of the funds on your account to you if your request for redemption of the funds is more than six years after the date of termination or expiry of this agreement.
All funds will be returned to a bank account of your choice. We reserve the right to see proof of your ownership of the bank account before transferring funds to it. To enable us to comply with our legal obligations, we may ask you to provide us with certain information such as identification documents before we can process your refund request.
Please also refer to section 29 below for the circumstances in which we do not give you a refund.
The Account is an electronic money product regulated by the FCA. Any funds deposited to your Account (together with other customers’ funds) are safeguarded with our partner banks. In the unlikely event we become insolvent your funds will be segregated from our money and also protected against claims made by our creditors.
If you are unhappy in any way with your card and account or the way it is managed, you can Contact us over phone or write us on firstname.lastname@example.org so we can investigate the circumstances for you. Any complaints you have will be dealt with quickly and fairly.
If we are unable to resolve your complaint to your satisfaction you may contact the Financial Ombudsman Service at Exchange Tower, London, E14 9SR. Telephone: 0800 023 4 567 from landlines, 0300 123 9 123 from mobile phones or +44 20 7964 0500 for calls from outside the UK and e-mail: email@example.com.
You must let us know as soon as possible if you change name, address, telephone number, mobile number or e-mail address. If we contact you in relation to your account we will use the most recent contact details you have provided to us. Any e-mail, mobile notification, in-app message or SMS text message sent to you will be treated as being received as soon as it is sent by us. We will not be liable to you if your contact details have changed and you have not told us.
We will process and retain personal data in order to open, administer and run your account.
We will transfer your personal data within our groups of companies and to other third parties in order to issue a card and run your account.
We will transfer your personal data, including details of your transactions, within our group of companies and to the distributor, in order to carry out, monitor and analyse our relevant business. If we transfer your information to third parties outside the European Union we will take steps to ensure that the third party agrees to apply the same levels of data protection that apply in the UK.
If you have agreed, we or other third parties may also contact you to let you know about services that are of interest to you. You can contact us if you don’t want to receive any marketing materials from us or other third parties.
We may check personal information with fraud protection agencies and other organisations and we may get information about you from recognised agencies to verify your identity. A record of such enquiries may be left on your file. We will tell fraud prevention agencies if you give us false or inaccurate information and we suspect fraud.
We may monitor and/or record telephone calls we have with you to help us maintain and improve the quality of the service we provide to you.
We may change these Terms & Conditions by notifying you by e-mail or other agreed means at least 60 days before the change is due to happen. We will assume that you agree with the change. If you do not agree with the change you must tell us before the change happens and we will cancel your account and card immediately. If you cancel your account and card in this way then we will return any balance on the account to you and you will not be charged a Redemption Fee.
An up-to-date version of the account Terms & Conditions, as well as any notices of future changes will always be available on our website www.monese.com. You should check our website regularly for such notices and changes.
From time to time, your ability to use your account or card may be interrupted, e.g. when we carry out maintenance. If this happens, you may be unable (a) to use your card to pay for purchases or obtain cash from ATMs and/or (b) to obtain information about the funds available in your account and/or about your recent transactions.
In addition, like other payment cards, we cannot guarantee a merchant will accept your card, or that we will necessarily authorise any particular transaction. This may be because of a systems problem, something outside our reasonable control, to comply with legal and regulatory requirements, or because we have suspended, restricted or cancelled your card or refused to replace it in accordance with these Terms & Conditions.
If we incorrectly deduct funds from your account, we will refund them. If unauthorised transactions occur after you have notified us of the loss, theft or unauthorised use of your card or account, and you have not acted fraudulently or in breach of these Terms and Conditions, then we will be liable.
We will not be liable:
For the SMS services we offer, we are not responsible for lost, late or undelivered text messages, notifications or communications. We accept no responsibility for any technical, computer, online, telephone, cable, electronic, software, hardware, transmission, connection, internet, website or other access issue which may hinder your ability to access the SMS services.
We may charge you for any reasonable costs that we incur in taking action to stop you using your card or account and to recover any monies owed as a result of your activities if you:
In these circumstances we will not refund transactions and we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using your account and to recover any monies owed as a result of your activities.
If you have not been fraudulent, or grossly negligent, and have used your card and account in accordance with these Terms & Conditions, your maximum liability for any unauthorised transactions before you notify us will be £50.
We may also charge you an Administration Fee if we have to manually intervene to complete a payment or rectify an error on the account caused by an error or omission on your part.
We are the data controllers of your personal data and will always process your personal data in accordance with the Data Protection Act 1998.
You may not transfer or assign any rights or obligations you may have under these Terms & Conditions to any other person without our prior written consent. We may assign the benefit and burden of these Terms & Conditions to any other person at any time on giving you two months prior notice of this. If we do this, your rights will not be affected.
This Agreement is concluded in English. All communications with you will be in English unless otherwise specified that communications will be in a language other than or in addition to English. These Terms & Conditions will be construed in accordance with English law and the exclusive jurisdiction of the English courts.
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