9.1 If we decide to increase or impose any new fees, we will tell your employer by email or post, at least 60 days before any changes take effect. In the unlikely event, for any reason whatsoever, a transaction is authorised when there are insufficient funds on the card for that transaction (a shortfall), the shortfall shall be reimbursed by your employer. If it is due to an error on the part of the retailer we may seek the shortfall from the retailer.
9.2. You agree that once we make this shortfall known to you, we may charge for the shortfall amount. Until the employer reimburses the shortfall amount, we may suspend your card.
10. Your details
10.1 You must let your employer know as soon as possible by email, or in writing if you change your name, address, phone number or email address who will advise Equals Money. Please be aware that you may have to provide supporting documentation before we are able to make the change. If we contact you in relation to your card, for example, to notify you that we have cancelled your card, we will use the most recent contact details provided to us. Any email 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.
11. Data protection
11.1 Equals Money processes information about you in accordance with its privacy policy. By using the website, you consent to such processing and you confirm that all data you provide is accurate.
12. Disputes with retailers
12.1 If you have any disputes about purchases or the amount you have been charged by the company or person you bought goods or services from you should settle these with the company or person involved. We are not responsible for the quality, safety, legality or any other aspect for any goods or services purchased with your card.
12.2 Once you have used your card to make a purchase we cannot stop that transaction.
12.3 If you suspect that your card has been compromised or used fraudulently we may be able to dispute the items on your behalf. We will under no circumstances be liable for transactions if your card has been knowingly used by another person or you have disclosed your PIN to anyone.
12.4 Equals Money will not be liable for any transactions made when a card has been reloaded during ongoing disputed transactions. All expenditure should be accounted for before a card is re-charged with funds.
12.5 Should you wish to dispute a transaction you need to inform Equals Money as soon as possible. Equals Money will not be able to assist with a dispute should the transaction be greater than 120 days old.
12.6 Only the named cardholder should use the Equals Spend card provided to them. If you have been issued with a card that is not in your name you will not be able to raise a chargeback to claim back funds in the event of a dispute with a merchant or fraudulent transaction.
13. Communication
13.1 By phone on
020 7778 9302 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.
13.2 By email on
business@equalsmoney.com13.3 By post at Equals Money, Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ.
14. Complaints
14.1 If you are unhappy in any way with your Equals Money account, please tell us so we can try to resolve the situation. You can complain via email, post or by calling
020 7778 9302 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.
14.2 We will try to resolve any complaints you have about your payment instrument or the service we provide to you within 15 business days of receiving your complaint and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).
14.3 You can request our Complaints Procedure via email, phone or by visiting our Website.
14.4 If we are not able to resolve the complaint to your satisfaction and you are eligible, you may be able to refer it to the Financial Ombudsman Service.
14.5 The Financial Ombudsman Service is a free, independent service which might be able to settle a complaint between you and us. Their contact details are: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR; phone
0300 123 9 123, website
www.financial-ombudsman.org.uk.
15. Compensation
15.1 Although the product is regulated by the Financial Conduct Authority (FCA), the Financial Services Compensation Scheme (FSCS) does not apply to this product. No other compensation scheme exists to cover losses with this product. This means that in the event that your issuer becomes insolvent, the card may become valueless and unusable, and you may lose your money. By using this product, you confirm that you understand and accept these risks.
16. Assignment16.1 We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you at least 60 days prior notice of this. If we do this, your rights will not be affected.
17. Fund protection17.1 As a responsible e-money issuer, your issuer ensures that once it has received funds they are deposited in a secure account, specifically for the purpose of redeeming transactions made by your card. In the unlikely event that your issuer becomes insolvent, funds that your employer has loaded which have arrived and been deposited by your issuer are protected against the claims made by creditors.
