Terms and Conditions
Soldo Business Account Terms And Conditions
THESE TERMS AND CONDITIONS APPLY TO YOUR SOLDO ACCOUNT AND TO THE USE OF THE SOLDO CLIENT. ALL ANNEXES REFERRED IN THESE TERMS AND CONDITIONS FORM PART OF THESE TERMS AND CONDITIONS.
YOU MUST READ THESE TERMS AND CONDITIONS CAREFULLY. BY USING YOUR SOLDO ACCOUNT YOU WILL BE DEEMED TO HAVE ACCEPTED THESE TERMS AND CONDITIONS. IF YOU DO NOT ACCEPT THESE TERMS AND CONDITIONS YOU SHOULD NOT USE YOUR SOLDO ACCOUNT.
YOUR SOLDO ACCOUNT IS OPERATED BY SOLDO FINANCIAL SERVICES LIMITED (REGISTERED NUMBER 09495650), CHARLES HOUSE, 108-110 FINCHLEY ROAD LONDON NW3 5JJ. SOLDO FINANCIAL SERVICES LIMITED IS AN ELECTRONIC MONEY ISSUER REGULATED BY THE FINANCIAL CONDUCT AUTHORITY UNDER REGISTRATION NUMBER FRN: 900459.
YOUR SOLDO CLIENT IS OPERATED BY SOLDO LIMITED (REGISTERED NUMBER 09233754), CHARLES HOUSE, 108-110 FINCHLEY ROAD LONDON NW3 5JJ.
IF YOU HAVE ANY QUERIES ABOUT THIS SERVICE PLEASE CONTACT CUSTOMER CARE.
“Account” or “Soldo Account” means the electronic money account held in the name of the Legal Person with Us in order to provide financial and payment services (the Soldo Services) according to these Terms and Conditions.
“Account Holder”, “Company” “You” or “Your” means the Legal Person who has registered with and has opened a Soldo Account with Us by agreeing to these Terms and Conditions.
“Account User” or “User” relating to the Account, means (i) any person that has a relationship with the Legal Person, including but not limited to officers, directors, employees, consultants and contractors or (ii) a specific purchase category (e.g. office expenses, travel expenses) that has been assigned to the Account and to the Soldo Services available to that Account by the Authorised User.
“Affiliate” relating to the Account, is a person or a Legal person that We have deemed to be an approved affiliate of the Company (e.g. parent company, owner, fully owned subsidiary, agent, sales representative) who is able to participate in Account Deposit and Withdrawal Services.
“API” Application Program Interface, is a set of functions and procedures that allow access to the features or data of the Soldo system from an external application, or other service.
“Authorised User” is authorised representative of the Legal Person and any User with Administration rights given to them by the Legal Person that can access the Account and Soldo Services.
“Bank” is one of the banks used by Us to hold customer funds or to support money transfer and payment services.
“Card” or “Soldo Business Card” means the Soldo Mastercard that is issued to You, or, at Your request, to any User of Your Account, whether in the form of a plastic or virtual card and its use is subject to the Soldo Business Card Terms and Conditions.
“Card Services” are the services detailed in Annex 1: SOLDO BUSINESS CARD TERMS AND CONDITIONS.
“Card Settings” are the controls that define which transactions can be authorised by a Card as described in Annex 11: CARD SETTINGS.
“Card Terms and Conditions” means the terms and conditions which are entered between You and Wirecard also on behalf of any User and which apply to the issue and use of Cards, as set out in Annex 1.
“Card User” is any person, whether You or an Authorised User, to whom a Card is issued by Wirecard at Your request and who is authorised by You to use a Card and access the funds held in the linked Wallet in your Soldo Account.
“Currency Exchange Services” are the services detailed in Annex 6: CURRENCY EXCHANGE SERVICES.
“Customer Care” means Soldo customer services for which You can find contact details in Annex 12: CUSTOMER CARE CONTACTS, which Soldo provides on its own behalf in relation to these Account Terms and Conditions and on Wirecard’s behalf in relation to the Card Terms and Conditions.
“Account Deposit and Withdrawal Services” are the services to transfer funds from and to an external financial instrument in the name of the Legal Person or its Affiliate into Your Soldo Account, which are detailed in Annex 4: ACCOUNT DEPOSIT AND WITHDRAWAL SERVICES.
“External transfer” is transfer of funds from Your Account to a third party payee according to the External Transfer Services.
“Fees and Limits” or “Fees and Limits Summary” refer to the fees and the limits that apply to Your Soldo Plan as is described in the Annex 8: FEES AND LIMITS SUMMARY.
“Legal Person” is any association, business corporation, partnership, proprietorship, trust, or individual that has legal standing under English law. The most common examples are, but not limited to, limited companies, sole traders and charities.
“Merchant” means any retailer or any other person or firm or company providing goods and/or services to any User.
“Permissions” are the specific authorisations You give to the Users of Your Soldo Account to operate within Your Soldo Account that can allows them to access data and make use of services and functionalities as described in Annex 9: PERMISSIONS.
“PIN” means the four digit personal identification number, which We may issue or You and each Card User can set, that secures certain uses of a Card.
“Soldo Client” is the software product that a User uses to access the Soldo Account, obtain information and use the Soldo Services. It can be, but is not limited to, in the form of a website or of an application for a computing device, personal computer or mobile device.
“Soldo Company ID” means the eight-digit access code, which You and each User will be provided by Us to secure access to the Soldo Account and the Soldo Services through the Soldo Client and to be used in combination with Soldo Password and Soldo Passcode.
“Soldo Consumer Account” means the electronic money account held in the name of an individual with Us and is subject to Soldo Account and Services Term And Conditions (link).
“Soldo Inter-Account Transfer” is a transaction that moves funds between Wallets of two different Accounts within the Soldo system according to the Soldo-Inter Account Transfer Services.
“Soldo Inter-Account Transfer Services” are the services detailed in Annex 7: SOLDO INTER-ACCOUNT TRANSFER SERVICES.
“Soldo Inter-Wallet Transfer” is a transaction that moves funds between two Wallets of Your Account according to the Soldo Inter-Wallet Transfer Services.
“Soldo Inter-Wallet Transfer Services” are the services detailed in Annex 5: SOLDO INTER-WALLET TRANSFER SERVICES.
“Soldo Passcode” means the five-digit access code, which You and each User will set to secure access to the Soldo Account and the Soldo Services through the Soldo Client and to be used in combination with Soldo Company ID.
“Soldo Password” means the sequence of characters, which You and each User will set to secure access to the Soldo Account and the Soldo Services through the Soldo Client and to be used in combination with Soldo Company ID.
“Soldo Plan” means the Soldo Plan of Your Account that defines the Fees, Limits and other characteristics of the Soldo Services We provide to You. You can find out which Soldo Plan You have by checking Your Soldo Account.
“Soldo Services” are the services provided by Us to You and each Users of an Account. These services (Card Services, Currency Exchange Services, Deposit Services, External Transfer Services, Internal Transfer Services) are detailed in the Annexes.
“Supported Countries” are the countries where Soldo is permitted to operate, as determined by permission granted as an Electronic Money Issuer regulated by the FCA. The countries are detailed in Annex 2: SUPPORTED COUNTRIES.
“Supported Currency” relating to the Account is any currency among those supported by Soldo as defined in ANNEX 3 – SUPPORTED CURRENCIES
“Terms and Conditions” means these terms and conditions and Annexes and any amendments to them that We may notify You of from time to time.
“Transaction” relating to Your Soldo Account, an operation funded by a transfer of money in or out of a Wallet such as, but not limited to, a cash withdrawal, a money transfer in or out of Your Soldo Account, and a purchase of goods and/or services completed by any User.
“Us” or “We” or “Our”, or “Soldo” means Soldo Financial Services Ltd and or Soldo Ltd as appropriate.
“Wallet” is a partition of funds created within Your Account and it is associated, by the Authorised User, to You and or to one or more Users who, by this, are authorised to use the funds.
“Wallet Settings” are the controls that define which limits exist for the use of a Wallet as described in Annex 10: WALLET SETTINGS.
“Website” means http://www.soldo.com and any other website under the domain soldo.com that is used by us to provide the Soldo Services.
“Wirecard” means Wirecard Card Solutions Limited.
2. OUR RELATIONSHIP WITH YOU
2.1 Soldo is an E-Money Issuer and Payment Service Provider. Soldo Financial Services Limited is an Electronic Money Institution regulated by the Financial Conduct Authority under registration number FRN: 900459. Soldo’s main business is the issuance of e-money and the provision of payment services and other related services. Soldo enables You and any User to make payments to third parties, and does not have control of nor assumes the liability or legality for the goods or services that are paid for with Soldo Services. Since the Soldo Services are limited to e-money and payment services they do not qualify as a deposit or investment services and although regulated by the Financial Conduct Authority, Your Soldo Account is not covered by the Financial Services Compensation Scheme. The funds in Your Soldo Account are safeguarded by Us, which means that they are kept separate from Our assets so in the unlikely event We become insolvent, Your funds remain safe from Our creditors.
2.3 Intellectual Property. The intellectual property rights in the Soldo Brand, being the Website, Soldo Client, the brand “Soldo” and all related marks and logos of our products and services described in our Website are either owned by Soldo or provided under licence to Soldo. Neither You nor any User may copy, imitate, modify, alter, amend or use the Soldo Brand without Our prior written consent or display any part of the Soldo Brand in any manner that implies Soldo’s sponsorship or endorsement. All right, title and interest in and to the Soldo Brand is the property of Soldo and its licensors.
When You provide or post content (in each case for publication, whether on- or off-line) using the Soldo Services, You grant Soldo a non-exclusive, worldwide, perpetual, irrevocable, royalty-free right to use such content. To the extent permitted by law, You waive your moral rights to and agree not to assert such rights against the Soldo, its sub-licensees or assignees. You promise that the content You provide and its use by Us does not infringe any intellectual property right of a third party.
Neither You nor any User may perform any activity with the objective of reverse engineering Soldo Client and the way Soldo Services technically works including any APIs, technical communication protocol, technical protection measures. As an example, but not limited to, you may not:
– decompile Soldo Client;
– extract, use, distribute any part of Soldo Client in any form;
– analyse the technical communication protocol used by Soldo Client for providing Soldo Services;
– perform any network packet inspection involving Soldo Client;
– copy and use any part of the technical communication protocol used by Soldo Client;
– investigate, bypass, disclose, publish in any form any technical protection measures used by Soldo Client such as, but not limited to, authentication handshakes, protocol encryption, password authentication, code obfuscation, code signing, that control access to the code, the service or any specific functionality provided by Soldo Client;
– modify, adapt, integrate into other products, translate and re-write into another language or in another manner Soldo Client;
– copy any code into a program You create as a result of reverse engineering on Soldo Client;
3. THESE TERMS AND CONDITIONS
3.1 We may change these Terms & Conditions including without limitation changing the existing fee structure or introducing new fees, from time to time. If so, We will provide You with at least 60 days’ notice unless We are required to make such a change sooner by law. All such changes will be posted on the Website and communicated to You by such other means that We agree with You, for example by email or text message or through mobile push notifications from the Soldo Client.
3.2 The up-to-date version of these Terms and Conditions will be available through the Soldo Client and the Website. You should check the Website regularly so that You can see the latest version. You will be bound by these Terms and Conditions and any amendments made to them. We recommend that You print off a copy of these Terms and Conditions to keep for Your records.
3.3 You will be taken to have accepted any change to these Terms and Conditions that We notify to You unless You tell Us that You do not agree with the particular change before the relevant change takes effect. In such circumstance, We will treat Your notification to Us as notification that You wish to terminate these Terms and Conditions immediately and We will close the account and any other related service and refund the balance on your Soldo Account. In this circumstance, You will not be charged a refund fee for closing the Account.
4. SCOPE OF THESE TERMS AND CONDITIONS
4.1 These Terms and Conditions govern the use of Your Soldo Account by You and any User. The funds held in Your Soldo Account are held as e-money and no interest will be paid on these. When You, or a User makes a debit Transaction, the value of the Transaction plus any associated fees payable will be deducted from Your Soldo Account and used to complete the Transaction.
When You, or a User makes a credit Transaction, the value of the Transaction minus any associated fees payable will be credited to Your Soldo Account. See Fees and Limits Summary for details.
4.2 You can transfer money, make payments and carry out other Transactions through the various Soldo Services We offer. Some of them, such as the Currency Exchange Services are provided by third parties and the use of such services will be subject to separate terms and conditions of use. In such circumstances, We ask that You read the applicable terms and conditions of use as You will be required to accept them prior to You or any User use such service.
5. YOUR SOLDO ACCOUNT
5.1 To register with Us and open a Soldo Account, the Legal Person must (i) be registered in one of the Supported Countries in which the Soldo Account is currently offered; (ii) have full legal capacity to enter into a contract; and (iii) if You are an individual (i.e sole trader), be at least 18 years old. You further represent and warrant to Us in opening an Account with Us that You are not acting on behalf of, or for the benefit of, anyone else. Unless expressly authorised by Us, You may hold not more than one Soldo Account in the name of the Legal Person.
5.2 These Terms and Conditions apply only to Legal Person who are registered in the United Kingdom. Legal Person’s resident of other countries must refer to their specific Terms and conditions.
5.3 Before We can open Your Soldo Account We will need to know some information about the Legal Person and any natural person who ultimately have a controlling interest directly and or indirectly of the Legal Person. We will also need to identify and verify the identities and places of residence of any natural person(s) who exercise executive control over the daily or regular affairs of the Legal Person through a senior management position, such as a chief executive officer (CEO), chief financial officer (CFO), managing or executive director, or president. We will check identities and where any of them live. We may use third parties to obtain this information and carry out checks on Our behalf, this may include using credit reference agencies. However a credit check is not performed and Your credit rating will not be affected. We may ask You to provide additional information and documents to support the information You provide.
5.4 We reserve the right to refuse to open a Soldo Account.
6. OTHER USERS
6.1 You may register other individuals Users to your Soldo Account to give them access to the funds contained in the Account and to the related Soldo Services.
6.2 We will need to identify each Authorised User that You register to Your Soldo Account and We may use third parties to carry out identification and verification checks on Our behalf. We may ask You to provide additional information and documents to support the information You provide. You must confirm with each User that they consent to You providing this information to Us and We may ask for proof of such consent. In addition we may need to identify other User at our discretion.
6.3 The number of Users permitted in each Soldo Account depends on the Soldo Plan You have in place.
6.4 You can control the access of a User to the resources and Services of an Account through the use of Permissions.
6.5 You will be responsible for any action, access to funds and for all Transactions made by Users registered in Your Soldo Account. This includes all Transactions made using a Soldo Service, for example using a Card, and any applicable fees or charges that are incurred as a result. You must make sure that all Users are made aware of the requirements set out in these Terms and Conditions and that they comply with them.
6.6 We reserve the right to refuse to register any User.
7. USING YOUR SOLDO ACCOUNT
7.1 All the money stored in an Account is owned by the Account Holder and is organised in one or more Wallets. The number of Wallets permitted in each Soldo Account depends on the Soldo Plan You have in place. A Wallet can hold money in one of any of the Supported Currencies and in the same Soldo Account You can store money in all the Supported Currencies by using multiple Wallets. The amount of total money, even in multiple currencies, that can be stored in an Account can be subject to a Limit. See Fees and Limits Summary for details. Funds can be deposited into Your Soldo Account, by You or, if applicable, by other Affiliate You have authorised, using the Account Deposit and Withdrawal Services available in the country in which You are resident. If funds are received that were not authorised by You then You must (i) refrain from using the funds and (ii) contact Us immediately and ask for the funds to be returned to the sender. Minimum and maximum limits can apply to the amount of a fund transfer, to the total number of fund transfers and their total amount on a per-operation or per-period basis. See Fees and Limits Summary for details.
7.2 A User that has been authorised to do so by any Authorised User through the Permissions can transfer funds between Wallets at any time using the Soldo Inter-Wallet Transfer Services.
7.3 If funds in one currency are transferred from a Wallet into another Wallet denominated in a different currency, the funds will be changed in the currency of the destination Wallet using the Currency Exchange Services. We will use the exchange rate applicable to the Transaction and set by the foreign exchange provider identified in Annex 6 (Currency Exchange Service) at the time the Transaction is processed. A foreign exchange fee may apply (see Fees and Limits Summary for details).
7.4 A Wallet can fund Transactions of the Soldo Services that are connected to it up to the total amount of money available in the Wallet and according to Fees and Limits Summary. See Fees and Limits Summary for details.
7.5 A User, that has been authorised to do so, can set Wallet Settings that affect the amount of money of a Wallet that can be used to fund Soldo Services or payments transactions.
7.6 Any User that has been authorised can access Your Soldo Account at any time through the Soldo Client. We can limit access to the Soldo Account for security reasons and ask for additional identification before allowing access.
7.7 You agree that We may apply spending and withdrawal limits to your Account. Spending and withdrawal limits may also apply to Transactions made using a Card (see Fees and Limits Summary for details).
7.8 You will need to authorise every Transaction You wish to make. A Transaction will be regarded as authorised at such time:
a) if the Transaction is authorised at the point of sale by You or a Card User by:
· entering a PIN or providing any other security code;
· signing a sales voucher;
· providing the Card details and/ or providing any other details as requested;
· waving or swiping the Card over a contactless card reader;
· inserting the Card and entering Your PIN to request a cash withdrawal at a cashpoint; and
b) for a Soldo Inter-Wallet Transfer, a Soldo Inter-Account Transfer, an External Transfer Services or an Account Deposit and Withdrawal Services; when you press “Confirm” to confirm the Transaction or when You send Us written request and, if required, enter or provide Us with any security password or authorization code that We may require.
7.9 For any purchases made using a Card, We receive your Transaction instructions when We receive the Transaction message from the Merchant. Unless We state otherwise in relation to a particular service, We receive all Your other Transaction instructions at the time You ask Us to complete the relevant Transaction.
7.10 Authorisation for a Transaction may not be withdrawn (or revoked) after We have received it.
7.11 If You or a Card User makes a Card Transaction in a currency other than the currency that the Soldo Card is denominated in, the Card Transaction will be converted to the currency of Your Soldo Card by the Mastercard scheme network at a rate set by Mastercard International Incorporated (link) on the day We receive details of the Card Transaction. The exchange rate varies throughout the day and is not set by Us. Note also that exchange rates can fluctuate and that they may change between the date You made Your Card Transaction and the date it is processed to Your Soldo Account. A foreign exchange fee may also apply (see Fees and Limits Summary for details).
7.12 Some Merchants such as car hire companies, hotels, restaurants and other service providers will estimate the sum of money You may spend with them or for which You require authorisation. This estimate may be for a greater amount than the amount You finally spend with them or are charged for by them. This means that some of the funds on Your Wallet may be held for up to 31 days until the Merchant has settled the Transaction amount and accordingly, You will not be able to spend this estimated sum during this period. We cannot release such sum without authorisation from the Merchant. In certain situations, for example at restaurants, You may be required to have a maximum of 20% more on Your Wallet than the value of the bill to allow for any service charge added by the restaurant.
8. SUSPENDING YOUR SOLDO ACCOUNT / DECLINING TRANSACTIONS
8.1 We reserve the right to decline any Transactions at Our discretion.
a) We may at any time suspend, restrict or cancel Your Soldo Account for reasons relating to the following:
i. We are concerned about the security of Your Soldo Account or access to it;
ii. We suspect Your Soldo Account is being used in an unauthorised or fraudulent manner;
iii. You, or a User breaks an important part of these Terms and Conditions or repeatedly break any term in these Terms and Conditions and fail to resolve the matter in a timely manner; or
iv. We need to do so to comply with the law.
b) If We take any of the steps referred to above in Section 8.1 a), We will tell You as soon as We can or are permitted to do so after We have taken such steps. We may ask You to stop using Your Soldo Account until We believe that the relevant circumstances no longer apply.
c) We may also decline to authorise a Transaction:
i. if We suspect Your Soldo Account is being used in an unauthorised or fraudulent manner;
ii. if sufficient funds are not available in a Wallet of Your Soldo Account to cover the amount of the relevant Transaction and any applicable fees; or
iii. if We believe that a Transaction will break the law;
d) If We refuse to authorise a Transaction, We will, if practicable, tell You why immediately 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 Customer Care.
We shall not be liable in the event We do not authorise a Transaction. Unless otherwise required by law, We shall not be liable for any loss or damage You may suffer as a result of Your inability to use Your Soldo Account for a Transaction or the same occurs to a User.
8.2 You must not spend more money than is permitted to be spent in Your Soldo Account. You are responsible for ensuring that there are sufficient funds available in a relevant Wallet of Your Soldo Account when a Transaction is authorised by You or a User. If there is not and there is an overspend in a Wallet of Your Soldo Account then You must transfer funds to the Wallet to repay the overspend to Us immediately. We will take any such action seriously and take any steps necessary, including taking enforcement action against You.
8.3 You agree that once We notify You of any such overspend by whatever means You must repay it immediately. We reserve the right to deduct an amount equivalent to the overspend from any other Wallet that You hold in Your Soldo Account or from any other payment instrument or account You designate to Your Soldo Account and against any funds which You subsequently paid into Your Soldo Account. We may suspend Your Soldo Account and any Soldo Services connected to Your Soldo Account until we are reimbursed the overspend amount.
8.4 We accept no responsibility for the goods or services purchased by You or a User using the funds in Your Soldo Account. All such disputes must be addressed directly with the Merchant providing the relevant goods or services. Once You or a User has authorised a Transaction, We cannot stop that Transaction.
9.1 Your use of Your Soldo Account and of Soldo Services is subject to the fees and charges set out in the Fees and Limits Summary and also available in the Website. For example We may charge You fees to load funds to your Soldo Account, cancel a Card or if You do not make any Transactions using a Card for a certain period of time. All fees and charges You pay will be set out in Your Transaction history which You can access in the Soldo Client. These fees and charges are part of these Terms and Conditions. Any or all of these fees/charges may be waived or reduced at Our discretion.
9.2 If You choose to use one or more of the Soldo Services that We make available, then the use of such Soldo Services will be subject to its own terms and conditions of use and fees to use such Soldo Services may apply.
9.3 Fees and charges will be paid at such time they are incurred, depending on the terms applicable to such fee or charge, and on a recurring periodic basis if the relevant service is a subscription not cancelled prior to such payment date, either from Your Soldo Account or by You from other sources of money.
9.4 Please be aware that some cashpoint providers charge additional fees for the use of their cashpoints and some Merchants add a surcharge for accepting certain types of cards. You may also be subject to their terms and conditions of business when using a Card with them and it is Your responsibility to check before proceeding with a Transaction.
9.5 We may introduce or amend Our one-time or periodic fees and charges over time, if so, We will notify You in advance in accordance with Section 3.1.
10. KEEPING YOUR SOLDO ACCOUNT AND CARD SAFE
10.1 The Soldo Client system is designed to offer secure access to information and services. This is achieved by using a combination of security functions that are made available to the User and that must be used in full and every time by to achieve the maximum protection.
10.2 The security functions of the Soldo Client system are designed to be used together with other security functions of the devices, e.g. personal computer, mobile terminals, used to access it. It is strongly recommended that each User of the Soldo Client system should always protect their devices with a password or device passcode as well as make sure their device is free from viruses or malware. Failure to do so could result is reduced security of their Account.
10.3 The access to the Soldo Client system and services through devices that have been modified against the recommendations of the manufacturer, e.g. “Jailbroken” iOS devices or “rooted” Android devices, or that in any other way can reduce or bypass the security functions compromises the security of Your Account, is forbidden.
10.4 In case of loss of a User device containing the Soldo Client software the User must immediately contact Customer Care.
10.5 You and each User of Your Soldo Account have their own security information, e.g. Soldo Company ID, Soldo Passcode, Soldo Password and Cards PIN, that is personal and must not be disclosed to anyone else including friends, family, Merchant staff and Soldo Customer Care staff. The Soldo Company ID, Soldo Passcode and Soldo Password must be memorised and kept secret at all times.
10.6 You and each User must take all reasonable precautions to prevent fraudulent use of Your Soldo Account.
10.7 If You or a User knows or suspects that the Soldo Passcode is known to an unauthorised person, or if You or a User thinks a Transaction is unauthorised or has been incorrectly executed, or You or a User believe that their Soldo Account is being accessed without their consent then You must tell Us without delay by contacting Customer Care and also You must use all the facilities available in the Soldo Client to block access to the Account and prevent further Transactions.
11. DISPUTED TRANSACTIONS
11.1 You may be entitled to claim a refund in relation to Transactions made using Your Soldo Account where:
a) the Transaction was not authorised under these Terms and Conditions;
b) We were responsible for a Transaction which was incorrectly executed and notified to Us in accordance with Section 10.7 above;
c) a pre-authorised Transaction did not specify the exact amount at the time of its authorisation and the amount charged by a Merchant is more than You or a User could reasonably have expected taking into account normal spending patterns on Your Soldo Account or the circumstances of the Transaction. However a claim for a refund in this circumstance will not be accepted if the amount of the Transaction was made known to the You or the User at least 4 (four) weeks before the Transaction date or if the claim is made more than 8 (eight) weeks after being debited from Your Soldo Account;
d) We were notified of the unauthorised or incorrectly executed Transaction within 13 months of the debit date of such Transaction.
11.2 If any of the above circumstances apply, You or the User should contact the Merchant first as this may lead to a quicker resolution of the dispute. You or the User can also ask Customer Care to investigate the Transaction or misuse of Your Soldo Account or the Soldo Card (whichever is applicable).
11.3 If a disputed Transaction is refunded to Your Soldo Account and subsequently We receive information to confirm that the Transaction was authorised by You or a User and correctly posted to Your Soldo Account, We will deduct the amount of the disputed Transaction from the funds in Your Soldo Account. If there are no or insufficient funds then the provisions regarding overspend on Your Soldo Account (Sections 8.2 and 8.3) will apply.
11.4 If Our investigations discover that the disputed Transaction was genuine and authorised by Your or a User directly or indirectly, or that You or a User has acted fraudulently or with gross negligence, You may be charged an additional unjustified investigation fee (see Fees and Limits Summary for details – Transaction investigation fee).
12.1 You should treat the funds held in Your Account like cash in a wallet. If a Card is lost or stolen or there is unauthorised use of a Card, You may lose some or all of the balance held in Your Account in the same way as if You lost cash.
12.2 Subject to Section 12.3 below, You will be liable up to £50 for any unauthorised Transactions made on Your Soldo Account. You will not be liable for any losses incurred in respect of an unauthorised Transaction if You have exercised reasonable care in safeguarding Your Card, PIN, Soldo Company ID, Soldo Passcode and Soldo Password from risk of loss or theft or unauthorised use and, upon becoming aware of an unauthorised Transaction or the loss or theft of Your Card or PIN, Soldo Passcode or Soldo Password, you notified us promptly.
12.3 You will be liable for losses and expenses We incur as a result of unauthorised Transactions made using a Card if Our investigations show that:
a) any unauthorised Transaction was in fact authorised by You, a User or a Card User; or
b) that You, a User, or a Card User acted fraudulently or with gross negligence (for example by failing to keep the Card or the PIN secure or failing to notify Us without delay on becoming aware of the loss, theft or unauthorised use of the Card).
12.4 Once You have notified Us of the unauthorised use of Your Soldo Account, We will investigate the matter to determine what has happened. You and Your Users must provide Us all the necessary assistance. We will promptly refund the amount of the unauthorised Transaction unless We believe from Our investigation that such Transaction was authorised.
12.5 We reserve the right to charge You a Transaction investigation fee (see Fees and Limits Summary for details) if we find that any Transaction notified to Us as unauthorised or incorrectly executed was authorised or correctly executed. We may also charge You for any other reasonable costs that We incur in taking action to stop You or a User using Your Soldo Account and to recover any monies owed as a result of Your or a User’s activities.
12.6 Our liability to You under these Terms and Conditions shall be subject to the following exclusions and limitations. We will not be liable for any loss arising from:
a) a Merchant refusing to process a Transaction;
b) any cause which results from abnormal or unforeseen circumstances beyond Our reasonable control or which would have been unavoidable despite all Our efforts to stop it;
c) Us suspending, restricting or closing Your Soldo Account if We suspect Your Soldo Account is being used in an unauthorised or fraudulent manner, or as a result of You or a User breaking an important term or repeatedly breaking any term in these Terms and Conditions;
d) Our compliance with any applicable laws; or
e) loss or corruption of data unless caused by Our wilful wrong doing.
12.7 Unless otherwise required by law or as set out in these Terms and Conditions, We will not be liable to You or a User in respect of any losses You or any third party may suffer in connection with Your Soldo Account as a result of Our actions which were not a foreseeable consequence of Our actions.
12.8 We will not be liable for the goods or services that You or a User purchases using Your Soldo Account.
12.9 From time to time, Your, and/or a User’s ability to use Your Soldo Account may be interrupted, e.g. when We carry out maintenance. If this happens, You or a User may be unable to:
a) transfer funds into Your Soldo Account;
b) transfer funds from or to a Wallet;
c) carry out a Transaction; and/or use any Soldo Service;
d) obtain information about the funds available in Your Soldo Account and/or about recent Transactions.
12.10 Where sums are incorrectly deducted from Your Soldo Account Our liability shall be limited to payment to You of an equivalent amount.
12.11 In all other circumstances Our liability will be limited to repayment of the amount of the funds in Your Soldo Account.
12.12 All refunds, including refunds for goods or services purchased using a Card will be returned to the relevant Wallet in Your Soldo Account from which the Transaction was made. You are not entitled to receive refunds in cash.
13.1 You can view, download and print Your Soldo Account Statements, Wallet balances and Transactions by accessing Your Soldo Account via the Soldo Client at any time. We recommend that You check the balance on Your Soldo Account and Your Transaction history regularly as it will help You quickly spot any Transaction you do not recognise.
14. TERM OF THE SOLDO ACCOUNT
14.1 These Terms and Conditions will continue until they are terminated by Us or You in accordance with the provisions set out in this document.
14.2 On termination of these Terms and Conditions, Your Soldo Account will close and all Soldo Services connected to it will terminate.
14.3 You have the right to claim any funds remaining in Your Soldo Account from Us for a period of 6 years commencing on the date these Terms and Conditions terminate and Your Soldo Account closes. You may contact Customer Care to request Your funds be returned to You at any time within the 6 year period. Any funds remaining in Your Soldo Account will be returned only through a bank transfer to a bank account in the name of the Account Holder. A withdrawal Bank Transfer Fee may apply (see Fees and Limits Summary – Withdrawal Bank Transfer fees for details). Any funds remaining in Your Soldo Account after 6 years will not be refunded.
15. SUSPENDING OR TERMINATING YOUR CARD OR SOLDO ACCOUNT
15.1 You may cancel Your Soldo Account at any time and without penalty (i) if You disagree with a change we intend to make to these Terms and Conditions; or (ii) at any time for any reason.
15.2 To cancel Your Soldo Account You must notify Customer Care. You will be responsible for any Transaction You, or a User has made or charges incurred before You cancelled Your Soldo Account. Once We have been notified by You, We will suspend Your Soldo Account straight away so it cannot be used. We will wait 30 days for all Transactions to be processed before We refund the remaining balance of money to You. This is to ensure all Your pending Transactions have been settled.
If You cancel Your Account then any fees that have been paid for future services will not be refunded.
15.3 We can terminate Your Soldo Account at any time providing We give You 2 months’ notice.
15.4 We can suspend or terminate these Terms and Conditions with You together with Your use and that of each User’s use of Your Soldo Account immediately if (i) You or a User has not complied with these Terms and Conditions, or (ii) if We have reason to believe that You or a User has used or intends to use Your Soldo Account in a negligent manner or for fraudulent or other unlawful purposes or (iii) if We can no longer process Your Transactions for any legal or security reason or due to actions of any third party or (iv) if You fail to pay any fees or charges that You have incurred or fail to repay any overspend incurred on Your Soldo Account.
15.5 If We cancel Your Account then any fees that have been paid for future services will be refunded in proportion to the fraction that was used at the time of the refund of the remaining balance to You.
15.6 We can suspend Your Soldo Account at any time with immediate effect if (a) We discover that any information You have provided is incorrect or incomplete; (b) if a Transaction has been declined because of lack of available value in Your Soldo Account; or (c) if a User persistently tries to make Transactions of an amount or of a nature that is not authorised by You, the Account Holder.
15.7 You may cancel a Card at any time by notifying Customer Care. Cancellation of a Card will not terminate Your Soldo Account. However, if Your Soldo Account is terminated, all Cards linked to it will be cancelled.
15.8 These Terms and Conditions, Your Soldo Account, all Cards and other services linked to it will terminate in the event in the event of the cessation, dissolution, liquidation of the Legal Person or we believe You are no longer carrying on business.
15.9 If any Transaction, fee or charge is found to have been incurred using Your Soldo Account or a Card following cancellation or termination, You agree to pay all such sums to Us immediately on demand.
15.10 On closure of Your Soldo Account We will refund any remaining funds in Your Soldo Account to Your nominated bank account in the name of the Legal Person. A Withdrawal Bank Transfer Fee may apply (see Fees and Limits Summary – Withdrawal Bank Transfer fees for details).
16. PERSONAL DATA
16.1 Soldo will collect and retain personal information about You and each User You register with Us so that We can operate Your Soldo Account through Soldo Client, the services linked to it and deal with any enquiries that You may have about it. Soldo is the data controller of such personal information. If We use a third party to provide a part of the Soldo Service, then that provider will be the owner and controller of the personal information they require to collect in order to operate the relevant service. The use of personal information by such third party service providers will be set out in their service terms and conditions of use.
16.2 Soldo processes personal information in accordance with relevant laws on the protection of personal data.
16.3 Soldo is committed to keeping Your personal data secure. Soldo will not pass information it holds about You to any third party other than those set out below and in each case under a strict code of confidentiality:
· to fraud prevention and similar agencies and other organisations who may use the information to prevent fraud, money laundering and terrorist financing;
· to suppliers or service providers that process data on Soldo’s behalf;
· to persons acting as agents on Soldo’s behalf;
· to Our partners, for example Wirecard;
· to anyone to whom We transfer or may transfer Our rights and duties under Our Terms and Conditions with You;
· as required by law or regulation; and
· for such purposes that You have given Us consent to do so.
16.4 As part of Our checks to prevent fraud, money laundering and terrorist financing We may share personal information that You provide with credit reference or fraud prevention agencies.
16.5 If We transfer Your information to a third party in a country outside of the European Economic Area We will ensure that the third party agrees to apply the same levels of protection that We are legally obliged to have in place when We process personal data.
16.7 If We suspect that We have been given false or inaccurate information, We may record and report suspicion together with any other relevant information. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering and financing of terrorism.
16.8 You have a right to inspect the personal data We hold about You however We will ask You to pay a fee of £10.00 to cover Our administration costs. For further information please contact Customer Care.
17. YOUR DETAILS
17.1 You must let Us know as soon as possible if You or a User changes name, address, telephone number or e-mail address.
17.2 If We contact You, for example, to notify You that We will be changing the Terms and Conditions or have cancelled a particular Soldo Service, We will use the most recent contact details You have provided to Us. Any e-mail to You will be treated as being received as soon as it is sent by Us.
17.3 We will not be liable to You if Your contact details have changed and You have not told Us.
18. SOLDO SERVICES
18.1 We may provide You and the Users and You and the User may make use of the Soldo Services in conjunction with the Soldo Account.
18.2 If You or a User make use of the Soldo Services You are accepting the terms and conditions of such Soldo Services defined in the annexes of these Terms and Conditions.
19. COMPLAINTS PROCEDURE
19.1 If You are not satisfied with the service You are receiving You should provide written details of Your concerns to Customer Care. All queries will be handled in accordance with Soldo complaints procedure. Customer Care will provide a copy of the complaint procedure upon request. You can also access it on the Website.
19.2 If We are unable to resolve Your complaint and you are a micro-enterprise with an annual turnover of up to 2 million euros and employ fewer than 10 employees you may complain to the Financial Ombudsman Service.
19.3 You may contact the Financial Ombudsman Service by:
a) post – addressing Your complaint to the Financial Ombudsman Services, Exchange Tower, London E14 9SR, United Kingdom;
b) telephone – 0800 023 4 567 (calls to this number are now free on mobile phones and landlines) or 0300 123 9 123 (calls to this number cost no more than calls to 01 and 02 numbers), These numbers may not be available from outside the UK – so please call from abroad on +44 20 7964 0500.; or
c) email – at firstname.lastname@example.org.
The Financial Ombudsman Service’s website is http://www.financial-ombudsman.org.uk.
20. CUSTOMER CARE
20.1 To contact Soldo You can use the contact information outlined in Customer Care. We may record any conversation You have with Customer Care for training and/or monitoring purposes.
21.1 In these Terms and Conditions, headings are for convenience only and shall not affect the interpretation of these Terms and Conditions. Any delay or failure by Us to exercise any right or remedy under these Terms and Conditions shall not be interpreted as a waiver of that right or remedy or stop Us from exercising Our rights at any subsequent time.
21.2 You may not novate, assign or transfer any rights and/or benefits under these Terms and Conditions. We may assign, transfer or novate Our rights and benefits and obligations at any time without prior written notice to You. If You do not want Us to transfer Your Soldo Account to a new provider You may contact Us and We will terminate Your Soldo Account and all Soldo Services linked to it, for example Your Card(s). Any balance remaining in Your Soldo Account will be returned to You in accordance with Our redemption procedure. We may subcontract any of Our obligations under these Terms and Conditions.
21.3 In the event that any part of these Terms and Conditions are held not to be enforceable, this shall not affect the remainder of these Terms and Conditions, which shall remain in full force and effect.
21.4 You will remain responsible for complying with these Terms and Conditions until Your Soldo Account is closed (for whatever reason) and all sums due under these Terms and Conditions have been paid in full.
21.5 These Terms and Conditions are written and available only in English and all correspondence with You and any User shall be in English. In the event that these Terms and Conditions are translated, the version in English shall take priority.
21.6 These Terms and Conditions are governed by the laws of England and You agree to the exclusive jurisdiction of the English courts.
ANNEX 1 – Soldo Business Card Terms and conditions
1.1 These definitions should be used together with and considered as an extension of the Soldo Business Account Terms And Conditions with the exception of the following:
“Us” or “We” or “Our” means Wirecard Card Solutions Limited or co-brand partners acting on its behalf.
2.1 These Card Terms and Conditions form the agreement between You and Us in relation to the use of Cards.
2.2 We will issue a Card(s) to enable a Card User(s) to give instructions to Soldo to make Transactions from a linked Wallet issued to You by Soldo, including to pay Merchants that accept cards displaying the Mastercard symbol subject to the provisions of Annexes 9 to 11.
2.3 Cards and these Card Terms and Conditions are personal to You. You may not transfer Your Card or Your rights and obligations under these Card Terms and Conditions to anyone else. You may however authorise other people to be Card Users, with You being responsible for the use of their Cards, on the basis of these Card Terms and Conditions.
3. CARD USERS
3.1 You can apply to Us to issue a Card to You or to another person You wish to authorise as a Card User, so long as they are at least 16 years old and a resident in one of the Supported Countries.
3.2 Your application will be taken in consideration and if accepted, We will issue You or the Card User a Card in Your or the Card User’s name (as appropriate) together with instructions on how to activate it.
3.3 You are responsible for each Card User’s use of their Card (this includes You being responsible under the Soldo Business Account Terms and Conditions for Transactions made by a Card User using their Card and any applicable fees and charges provided for under those terms and conditions) – see Annex 8 Fees and Limits Summary.
3.4 You must accordingly ensure that each Card User is aware of the provisions set out in these Card Terms and Conditions and complies with them when using their Card. Please see Section 15.2 on how to obtain copies of the Card Terms and Conditions, and You will also be provided with a link to them in the materials sent with a Card to a Card User.
3.5 When a Card User uses a Card to make a Transaction, the value of the Transaction plus any applicable fees will be deducted by Soldo from the balance on Your Wallet in accordance with the Soldo Business Account Terms and Conditions.
4. signing and activating a card
4.1 A Card User must sign a physical Card as soon as he/she receives it and must activate the Card in order to be able to use it. Activation instructions are set out on the packaging that the Card is attached to and also in the Soldo Client.
4.2 A virtual Card can be used immediately upon receipt and does not need to be activated.
5. USING a CARD
5.1 A Card is linked to a Wallet within Your Soldo Account, and so is known as a “prepaid” card (and not as a credit card, charge card or debit card).
5.2 You and the Card Users can use a Card to:
(a) purchase goods and services at any Merchant displaying the Mastercard acceptance symbol; and
(b) withdraw cash at any cashpoint displaying the Mastercard logo.
5.3 If there aren’t enough funds in a Wallet to cover the total cost of goods or services a Card User wishes to buy using a linked Card, they may find that some Merchants don’t allow spreading the cost across multiple payment methods such as another payment card or cash and may require use of an alternative means of payment to cover the total cost.
5.4 For information on the following areas, please see the following Sections of the Soldo Account Terms and Conditions:
(a) how to authorise a Transaction and withdraw authorisation – Sections 7.9 and 7.11;
(b) the receipt and processing of Transactions – Section 7.10;
(c) spending and Transaction limits – Section 7;
(d) fees, charges and foreign exchange conversion and rates – Sections 7.12 and 9 (and please note that other taxes or costs may exist that are not imposed by Us or payable to Us);
(e) how information relating to Cards and Your Soldo Account will be made available to You through the Soldo Client – Sections 3 and 13; and
(f) how and when to notify any unauthorised or incorrectly executed Transactions, liability for them, and when You might be able to claim a refund – Sections 10.7, 11 and 12.
6. OUR RIGHT TO SUSPEND OR CANCEL a CARD
6.1 We may at any time suspend or cancel a Card if:
(a) the Card has been lost or stolen;
(b) We are concerned about the security of the Card or Your Soldo Account;
(c) We suspect the Card is being used in an unauthorised or fraudulent manner;
(d) We are required to do so to comply with the law; or
(e) Wirecard is requested to do so by Soldo on the basis of its rights under the Soldo Business Account and Services Terms and Conditions.
6.2 If We suspend or cancel a Card in accordance with Section 6.1 above, We will inform the Card User giving its reasons:
(a) as soon as it can before doing so; or
(b) immediately afterwards,
provided this is legally permitted and does not compromise reasonable security measures.
6.3 In such circumstances, You must ensure that You or a Card User stops using the Card and in accordance with Our instructions either returns it to Us or destroys it. If after further investigations We believe that the relevant circumstances no longer apply or exist, then We will, as appropriate, either re-activate the Card or We will issue a replacement Card.
7. KEEPING CARDs SAFE
7.1 You must ensure that:
(a) All Card Users keep their Cards safe;
(b) as a Card is personal to the Card User it is issued to, it is not given to anyone else to use; and
(c) each Card User takes all reasonable precautions to prevent misuse of their Card.
7.2 Each Card User will receive a PIN for their Card from Soldo. You must ensure that:
(a) all Card Users keep the PINs for their Cards safe;
(b) when it is received, the Card User memorises the PIN and then destroys the PIN mailer (if any); and
(c) the Card User keeps the PIN secret at all times and does not disclose it to anyone including friends, family, Merchant staff or Customer Care staff.
7.3 If You or a Card User suspect(s) that someone else knows the PIN, You must ensure that You or the Card User lets Us know immediately by contacting Customer Care and changing it as soon as possible. It can also be changed at most cashpoints by selecting the “PIN Services” option. If You or a Card User forgets a PIN it can be accessed when logging on to the Soldo Client.
8. OUR LIABILITY
8.1 We will not be liable to You or any Card User for any loss arising from:
(a) a Merchant refusing to accept a Card;
(b) any breach by Us of these Card Terms and Conditions due to abnormal or unforeseen circumstances beyond Our reasonable control, which would have been unavoidable despite all Our efforts to stop it;
(c) We suspending or cancelling a Card or refusing to issue or replace a Card in accordance with these Card Terms and Conditions;
(d) Our compliance with any applicable laws and regulations;
(e) loss or corruption of data unless caused by Our willful default/wrong doing;
(f) Soldo not authorising a Transaction that You or a Card User attempt(s) to make using a Card; or
(g) Soldo suspending, restricting or cancelling Your Wallet or Soldo Account.
8.2 We will not be liable for the goods or services that a Card User purchases using a Card.
8.3 Where a Card is faulty Our liability shall be limited to replacement of the Card.
8.4 Nothing in these Card Terms and Conditions will exclude or limit Our liability for death or personal injury or to the extent that it cannot otherwise be limited or restricted by law.
9. LOST OR STOLEN CARDS
9.1 If You or another Card User believe(s) that a Card has been lost, stolen or misused You must ensure that You or the Card User blocks all further usage through the Soldo Client and/or calls Customer Care.
9.2 We may also require You or the Card User to provide details in writing; and, at Our reasonable request, You must help, and must ensure that the Card User helps, Us and Our agents or any enforcement agency in investigating the matter.
9.3 If You or a Card User report(s) a Card as lost or stolen, We will cancel it (and may issue a new one, for which a fee may apply, in accordance with Section 13). If You or a Card User find(s) the Card after You have reported it lost, stolen or misused, You must ensure that You or the Card User destroys it.
10. EXPIRY OF a CARD
10.1 A Card is valid for a period of 36 months from the date of its issue to the expiry date that is printed on the front of the Card unless its use is terminated earlier in accordance with these Card Terms and Conditions. Once a Card has expired, it cannot be used to make any Transactions.
10.2 We reserve the right to decline to issue a new Card if:
(a) We are concerned about the security of the Card or Your Soldo Account;
(b) We are required to do so to comply with the law; or
(c) Wirecard is requested to do so by Soldo on the basis of its rights under the Soldo Business Account Terms and Conditions.
11. REPLACEMENT CARDS
11.1 If asked to, We may replace a lost, stolen or damaged Card, in which case a fee may apply (see Fees and Limits Summary for details). You or the Card User may be asked to provide Us with the Card number of the damaged Card and other information We may need to identify You or a particular Card User.
11.2 We reserve the right to refuse to issue a replacement Card if:
(a) We are concerned about the security of the Card or Your Soldo Account;
(b) We are required to do so to comply with the law; or
(c) Wirecard is requested to do so by Soldo on the basis of its rights under the Soldo Account Terms and Conditions.
12. YOUR CANCELLATION AND TERMINATION RIGHTS
12.1 You may cancel a Card and these Card Terms and Conditions at any time for any reason.
12.2 You may terminate these Card Terms and Conditions (and all Cards issued under this Agreement): without charge, at any time if You do not wish to accept a change We have notified You that We intend to make to these Card Terms and Conditions (see Section 14 below).
12.3 To cancel a Card please contact Customer Care and We will block the Card straight away so that it cannot be used. Once You request that a physical Card is cancelled You must ensure that You or the Card User destroys it by cutting it in half through the chip and magnetic strip.
12.4 You will be responsible under the Soldo Business Account Terms and Conditions for any Transaction You or a Card User has made (and any applicable fees and charges incurred) before You cancelled the Card, unless those terms and conditions provide otherwise.
12.5 A withdrawal Bank Transfer Fee may apply (see Fees and Limits Summary – Withdrawal Bank Transfer fees for details).
13. OUR RIGHTS TO CANCEL a CARD AND terminate THESE TERMS AND CONDITIONS
13.1 We can terminate these Card Terms and Conditions (and so also cancel any Cards) at any time by giving You 2 months’ written notice before doing so.
13.2 We may terminate these Card Terms and Conditions (and use of Cards) immediately if:
(a) You or a Card User has broken an important part of these Card Terms and Conditions or repeatedly broken any of these Card Terms and Conditions; or
(b) We have reason to believe that You or a Card User has used or intends to use a Card for fraudulent or other unlawful purposes.
13.3 We will let You know if We terminate these Card Terms and Conditions (and use of Cards) if We are legally permitted to do so.
13.4 Termination of the Soldo Business Account Terms and Conditions will also terminate these Card Terms and Conditions, and notice to terminate them will also be notice to terminate these Card Terms and Conditions (and use of Cards).
13.5 These Card Terms and Conditions and any Cards issued to You or a Card User will be terminated and cancelled in the event of Your death.
14. Our right to change these card terms and conditions
14.1 We may from time to time need to change these Card Terms and Conditions. We can anticipate some of the reasons why it would be fair for Us to do this, and has listed them below, but may in the future also want to make changes for other reasons.
14.2 We may make a change to these Card Terms and Conditions for any of the following reasons, with any change being a reasonable and proportionate response to a change that is affecting Us or that We reasonably think will affect it:
(a) because of a change in legal or regulatory requirements, for example if We have to change requirements for keeping Your Card or Soldo Account safe to meet new security standards set by law;
(b) if the change benefits You, for example when introducing new products or services or improving existing ones;
(c) to reflect a change in Our costs of providing You with Your Card, for example by introducing new fees or charges; or
(d) in response to possible risks to the security of Your Card or Soldo Account, for example by changing the security steps You need to follow when You access Your Soldo Account or Card.
14.3 We may also make a change to these Card Terms and Conditions to respond to any other change that affects Us, if We reasonably think it is fair to pass on the effects of the change to You, for example to reflect developments in digital payments. Any such change to these Card Terms and Conditions will be a reasonably and proportionate response to the change affecting Us.
14.4 We may make changes for any other reason it cannot foresee, for example to respond to changes among competitors that affect how We wish to deliver Our services to You.
14.5 Before any change, which may reasonably be considered to adversely affect you, We will tell You at least two months before making any change. You can then tell Customer Care that You wish to cancel your Cards and end these Card Terms and Conditions before the change takes effect, otherwise You will be treated as having accepted the change.
15. other terms
15.1 These Card Terms and Conditions will apply until terminated or cancelled by You or Us under Section 12 or 13.
15.2 You can ask Customer Care to send You a copy of these Card Terms and Conditions at any time by contacting Customer Care; or, you can print them from the Soldo Website.
15.3 If any part of these Card Terms and Conditions is disallowed or found not to be effective by a court or regulator, the rest of them shall continue to apply.
15.4 We may choose not to enforce Our rights against You and make this contractually binding against Us by giving You a notice which expressly states that We have chosen to do so. In all other cases, if We choose not to exercise Our rights against You, We can still do so at a later date.
15.5 We may transfer Our rights and obligations under these Card Terms and Conditions to another person by giving You 2 months’ notice in writing. If We do this, Your rights under these Terms and Conditions will not be affected.
15.6 English law will decide any legal questions about these Card Terms and Conditions, and about Our dealings with You with a view to entering into these Card Terms and Conditions. The courts of England and Wales can also deal with any legal questions connected with these Card Terms and Conditions.
16. INFORMATION ABOUT Wirecard
16.1 Wirecard is a company incorporated in England and Wales under company registration number 07875693, whose registered office is at 3RD FLOOR, GRAINGER CHAMBERS, 3-5 HOOD STREET, NEWCASTLE UPON TYNE NE1 6JQ.
16.2 You can contact Wirecard at that address or through Customer Care.
16.3 Wirecard is authorised and regulated by the UK Financial Conduct Authority as an electronic money institution under firm reference number FRN 900051, and is a Mastercard scheme member.
17. how to contact us
17.1 If You have any questions or queries about Your Card please contact Customer Care.
18.1 You may request a copy of Our complaints procedure at any time by contacting Customer Care.
18.2 If We do not resolve Your complaint [to Your satisfaction within 8 weeks of receiving it], You may be able to refer it to the UK Financial Ombudsman Service who offer a free complaints resolution service. The Financial Ombudsman Service can be contacted at Exchange Tower, London E14 9SR. For additional contact details you may visit their website at www.financial-ombudsman.org.uk. The UK Financial Ombudsman Service is available in a number of different languages and they can put You in contact with a translator if You need one.
ANNEX 2 – SUPPORTED COUNTRIES
Soldo is currently offering the possibility to open a Soldo Account to Legal Person registered in the following Countries where has been authorised by the Financial Conduct Authority to issue electronic money (e-money) and provide payments services in addition to the United Kingdom:
AUSTRIA | BELGIUM | BULGARIA | CROATIA | CYPRUS | CZECH REPUBLIC | DENMARK | ESTONIA | FINLAND | FRANCE | GERMANY | GIBRALTAR | GREECE | HUNGARY | ICELAND | IRELAND | ITALY | LATVIA | LIECHTENSTEIN | LITHUANIA | LUXEMBOURG | MALTA | NETHERLANDS | NORWAY | POLAND | PORTUGAL | ROMANIA | SLOVAKIA | SLOVENIA | SPAIN | SWEDEN |
ANNEX 3 – SUPPORTED CURRENCIES
Soldo support services in the following currencies:
– Euro (€)
– Great British Pound (£)
– United States Dollar ($)
A Wallet can be defined to hold money in one of the Supported Currencies. We or Wirecard can decide to support additional currencies as well as stop supporting existing currencies at any time without prior notice to You.
ANNEX 4 – ACCOUNT DEPOSIT AND WITHDRAWAL SERVICES
A transfer of money is considered a deposit or a withdrawal when the beneficiary account is in the name of the Legal Person or an authorized Affiliate. We may authorize or withdraw authorization of any Affiliate at any time and without reason and at Our sole discretion. You must obtain prior approval from Us to enable the authorisation for any Affiliate.
Funds can be transferred into Your Soldo Account or withdrawn from Your Soldo Account in one of the following ways.
We reserve the right to refuse to accept any particular deposit or withdrawal.
· By bank transfer
Subject to internal risk restrictions and to the costs and limits specified in the Fees and Limits Summary, the Account Holder may transfer money in and out from the Soldo Account to/from a bank account held in the name of the Account Holder or an Affiliate that we have authorized.
We can accept a bank transfer in any of the Supported Currencies available in Your Account. If a bank transfer is received in a currency not supported in Your Account it will be exchanged in one of the Supported Currencies at the prevailing rate as determined by Our Bank. If You make a bank transfer in one of the Supported Currency but You indicate to have it credited to a Wallet denominated in another Supported Currency it will be changed to the Supported Currency of that Wallet at the prevailing rate as determined by Our Bank.
We will credit any bank transfer received to Your Account net of any bank costs or fees charged to Us by Our Bank or Your bank.
We accept bank transfers into Our Bank from banks situated in countries where the money laundering, terrorist financing and other related threats to the integrity of the international financial system are at the same level as the European and UK ones. We will reject any bank transfer coming from countries, which are banned in accordance with The Financial Action Task Force (FATF) and OFAC guidelines.
Soldo reserves the right to reject and return to the sender, without reason, any bank transfer received.
Any bank transfer received that is required to be returned may incur a processing fee (See Fees & Limits Summary – Transaction investigation fee).
· By credit/debit card
· Depositing cash through a specified Payment Service Provider
Subject to internal risk restrictions and to the costs and limits specified in the Fees and Limits Summary You or a User can deposit money in Your Account through a specified Payment Service Provider that accepts cash. We reserve the right to restrict this service only to Users who have been identified to Us in advance.
This service is offered only by specified Payment Services Providers in certain Supported Countries where We or any affiliate company have an agreement with them and details of the available Payment Service Providers can be found in the Website.
ANNEX 5 – SOLDO INTER-WALLET TRANSFER SERVICES.
Subject to Permissions, costs and limits specified in the Fees and Limits Summary You or any User can transfer money to any other User or Wallet within Your Account.
ANNEX 6 – CURRENCY EXCHANGE SERVICE
Subject to internal risk restrictions, Permissions and to costs and limits as specified in the Fees and Limits Summary, You or any Authorised User can exchange electronic money in your Soldo Business Account to electronic money in another supported currency by using the Transfer function available on the Soldo Client. The supported currencies of electronic money which you are able to exchange and store in your Soldo Business Account are limited to those set out on Annex 3 and are subject to change from time to time without us being required to provide you with notice.
You and any Authorised User will be informed, on the Soldo Client, prior to sending the request to enter into the Currency Exchange Service, of:
- the amount of electronic money you will use to purchase the amount of electronic money in your required currency;
- the amount and currency of the electronic money you wish to purchase;
- the Soldo Exchange Rate of the electronic money.
In order to submit the request to enter into the Currency Exchange Service You and/or any Authorised User will need to confirm the details which have been entered by hitting the button entitled “Confirm Transfer” on the relevant part of the Soldo Client.
The request to enter into a Currency Exchange Service will be accepted, when we confirm to You that Currency Exchange Service has been completed, on the Soldo Client.
The “Soldo Exchange Rate” means the rate at which you can use one supported currency to purchase another supported currency. Generally, during FX market hours we offer you the real time interbank rate plus a fee. However, in certain circumstances, it is not possible to provide you with the real time interbank rate including when the FX market is closed on weekends or on bank holidays. It may also not be possible to provide you with the real time interbank rates due to other external factors such as volatile market conditions, a system failure of Soldo Client or any other external factors. In such instances, we might provide you with FX rates different from the real time interbank rate. Please see Fees & Limit Summary. We will use the Exchange Rates set out in Fees and Limits Summary, where we can, however you will be informed of the exact Exchange Rate for each Currency Exchange Service prior to your entry into same. It is your responsibility to ensure that you agree with the Soldo Exchange Rate we offer You and/or any Authorised User prior to entering into each Transfer. In addition, our Soldo Exchange rates are available on the Soldo Client.
ANNEX 7 -SOLDO INTER-ACCOUNT TRANSFER SERVICES
Subject to internal risk restrictions, Permissions and to costs and limits as specified in the Fees and Limits Summary, You or any User may transfer money from a Wallet in Your Account to a Wallet in another Soldo Account.
We reserve the right to restrict the service only to Soldo Accounts and Soldo Consumer Accounts that have been made known to Us in advance.
ANNEX 8 – FEES AND LIMITS SUMMARY
Card monthly Fee1
Plastic Card Issuing Fee /Additional Plastic Card Issuing Fee
Virtual Card Issuing Fee
Card Replacement/Renewal Fee (Plastic/Virtual)
Account Deposit and withdrawal services
Incoming Bank Transfer2
Withdrawal Bank Transfer GBP to UK Bank Accounts
Withdrawal Bank Transfer SEPA EUR
Withdrawal Bank Transfer International Payments3
Soldo inter-Wallet Transfer Services
Money transfer between Wallets within Your Account
Soldo inter-Account Transfer Services
Money transfer between Accounts within Soldo
Card Withdrawal at cashpoint
Card denominated in £ withdrawal in £
Card denominated in £ withdrawal in other currency
Card denominated in € withdrawal in €
Card denominated in € withdrawal in other currency
Card denominated in $ withdrawal in $
Card denominated in $ withdrawal in other currency
Card Foreign Exchange transaction Fee4
CURRENCY EXCHANGE SERVICES
USD, EUR, GBP
1.00% above the latest available interbank rate5
Transaction Investigation Fee
Account / User / Card Cancellation Fee
1 – Plus VAT if applicable invoiced by Soldo Limited.
2 – Soldo does not charge any Fees however bank transfer fees may apply.
3 – Applicable to bank transfer in USD, GBP to non-UK bank accounts, EUR using non-SEPA circuit.
4 – If You or a Card User makes a Card Transaction in a currency other than the currency that the Soldo Card is denominated in, the Card Transaction will be converted to the currency Your Soldo Card by the Mastercard scheme network at a rate set by Mastercard International Incorporated (https://www.mastercard.com/global/currencyconversion) on the day We receive details of the Card Transaction. The exchange rate varies throughout the day and is not set by Us. Note also that exchange rates can fluctuate and that they may change between the date You made Your Card Transaction and the date the money leaves your Soldo Account.
5 – The interbank rate is provided by financial exchanges and may be delayed as specified by financial exchanges or our data providers. Note that the above exchange rates are a guide only. We do not guarantee the above exchange rates. It is Your responsibility to ensure that you agree with the Soldo Exchange Rate for each Currency Exchange Service you enter into, prior to entering into the Soldo Client
CARD TRANSACTIONS LIMITS
Maximum purchase value per card per single transaction
Maximum purchase value per card per day
Maximum purchase value per card per month
Maximum number of POS transactions per card per day / calendar month
Cashpoint withdrawal limit per plastic card per transaction
Cashpoint withdrawal limit per plastic card per day
Cashpoint withdrawal limit per plastic card per calendar month
Maximum number of cashpoint withdrawals per plastic card per day / calendar month
8 / 25
ANNEX 9 – PERMISSIONS
Any Authorised User delegated by You to administer the Soldo Account can define what any User in the Account can access and do through the use of Permissions.
These permissions affect what a User can do in all the Soldo Clients.
For each User the following permissions can be set:
– Which Wallet can be accessed
– If and how the Wallet Settings can be seen or modified
– If and how the Card Settings can be seen or modified
– If a Card activation can be done
– If a Deposit Transfer can be done
– If an Internal Transfer can be done
– If the User can administer the Account and
o Create or modify users, wallets and cards according to the limits of the plan
o see and change permissions for other users
ANNEX 10 – WALLET SETTINGS
The Account Holder and any other User delegated by the Account Holder through the use of the Wallet Settings can limit the use of funds in a specific Wallet.
The following Wallet Settings can be enabled:
– If the User must be warned when the level of spending in the wallet goes above a certain threshold
o The threshold can be applied on a daily, weekly, and/or monthly basis
– If the wallet can be authorised to the use of funds in it
o The limit can be applied on a daily, weekly, and/or monthly basis
ANNEX 11 – CARD SETTINGS
Any Authorised User and any other User delegated by the Authorised User through the use of the Card Settings can limit the use of a specific card.
The following card settings can be changed:
– If a card can be used for any type of transaction
– If a card can be used for any online transaction
– If a card can be used outside of its country of issuance
– If a card can be used to withdraw funds at any cashpoint
– The spending limit for a single transaction
– If a card can be used for any type of transaction, after the last authorization on a transaction
ANNEX 12 – CUSTOMER CARE CONTACTS
Customer Care is provided by Soldo or affiliates acting also on behalf of Us.
Our Customer Care department is open from Monday to Saturday – Excluding Bank holidays – from 9am to 7pm (Saturday 9am to 6pm). You can report a Lost and Stolen Card at any time by using the Soldo Client. We may record any conversation You have with Customer Care for training and/or monitoring purposes.
Our contact details are:
Post: SOLDO FINANCIAL SERVICES LTD
BOX 324, 19-21 Crawford Street, London W1H 1PJ
Telephone: +44 203 529 4328 (from UK and abroad)
A voice mail service is available
Lost or Stolen Telephone: +44 203 529 4328 (from UK and abroad)
A voice mail service is available