Terms & Conditions

Ver: 1.4 as of March 01, 2017

Soldo 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 AND SOLDO CLIENT ARE OPERATED BY SOLDO FINANCIAL SERVICES LIMITED (REGISTERED NUMBER 09495650), CHARLES HOUSE, 108-110 FINCHLEY ROAD LONDON NW3 5JJ (“SOLDO”). SOLDO FINANCIAL SERVICES LIMITED IS AN ELECTRONIC MONEY ISSUER REGULATED BY THE FINANCIAL CONDUCT AUTHORITY UNDER REGISTRATION NUMBER FRN: 900459.

IF YOU HAVE ANY QUERIES ABOUT THIS SERVICE PLEASE CONTACT CUSTOMER CARE.

1.            DEFINITIONS

“Account” or “Soldo Account” means the electronic money account held in Your name with Us in order to provide financial and payment services (the Soldo Services) according to these Terms and Conditions.

“Account Holder”, “You” or “Your” means the 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 any person (the Account Holder, an Internal User of the Account or an External User of the Account) who has been granted access to the Account by the Account Holder.

“Authorised User” is a User that can access the Account and Soldo Services under the given Permissions given by the Account Holder.

“Bank” is one of the banks used by Us to hold customer funds or to support money transfer and payment services.

“Card” or “Soldo Card” means the Soldo MasterCard branded card that is issued by Paysafe to You, or, at Your request, to a Card User, whether in the form of a plastic or virtual card and its use is subject to the Card Terms and Conditions.

“Card Services” are the services detailed in Annex 1: CARD TERMS AND CONDITIONS.

“Card Settings” are the controls that define which transactions can be authorised by a Card as described in Annex 12: CARD SETTINGS.

“Card Terms and Conditions” means the terms and conditions which are entered into between You and Paysafe 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 Paysafe 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 13: CUSTOMER CARE CONTACTS, which Soldo provides on its own behalf in relation to these Account Terms and Conditions and on Paysafe’s behalf in relation to the Card Terms and Conditions.

“Deposit Services” are the services to transfer funds from an external financial instrument into Your Soldo Account, which are detailed in Annex 4: DEPOSIT SERVICES.

“Deposit Transaction” is a transfer of funds from an external source into a Wallet of a Soldo Account.

“External Transfer” is a transaction that moves funds between Wallets of two different Accounts.

“External Transfer Services” are the services detailed in Annex 7: EXTERNAL TRANSFER SERVICES.

“External User” is a person who is a User of a Soldo Account registered by a different Account Holder that has been registered by You in order to access Your Soldo Account, subject to Your Permissions, to view balances and receive notifications in respect of Your Account.

“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 9: FEES AND LIMITS SUMMARY.

“Internal Transfer” or “Internal Transfer Transaction” is a transaction that moves funds between two Wallets of the same Account.

 “Internal Transfer Services” are the services detailed in Annex 5: INTERNAL TRANSFER SERVICES.

 “Internal User” is a child or a dependent of the Account Holder that the Account Holder has registered into an Account and to whom the Account Holder has given access to the funds of that Account and to the Soldo Services operating on that Account.

“Merchant” means any retailer or any other person or firm or company providing goods and/or services to any User.

“Money Transfer Services” are the services to transfer funds from Your Soldo Account to an external bank account, which are detailed in Annex 8: MONEY TRANSFER SERVICES.

“Paysafe” means Paysafe Financial Services Limited.

“Permissions” are the specific authorisations You give to the Users of Your Soldo Account to operate within Your Soldo Account.

“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 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.

“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.

“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 the Account Holder, the Internal Users or External Users of an Account. These services (Card Services, Currency Exchange Services, Deposit Services, External Transfer Services, Internal Transfer Services, Money 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 that is available in an Account by way of the presence of a Wallet denominated in that currency.

“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.

“Wallet” is a partition of funds created within Your Account and it is associated, by the Account Holder, 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 11: WALLET SETTINGS.

“Website” means www.soldo.com.

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.

2.2              Your Privacy. Protecting Your privacy is very important to Us. Please review Our Privacy Policy to better understand Our commitment to maintaining Your privacy, as well as Our use and disclosure of Your Information.

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, You must (i) be a resident of 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, 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. You may hold not more than one Soldo Account in your name as Account Holder.

5.2              These Terms and Conditions apply only to Users who are residents of the United Kingdom. The users 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 You. We will check Your identity and where You 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 as Internal Users to your Soldo Account in order to give them access to the funds contained in the Account and to the related Services.

6.2              We will need to know some information for each Internal 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. We may also require You to provide proof that You are the parent or legal guardian of any Internal User below the age of 18 years. 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.

6.3              You may register External Users to Your Soldo Account. In this case, We will use the information they have provided to Us when they have registered and opened their account and if they accept to become External Users of your Account they consent to Us using their information in the context of Your Account and also to make available their information to You.

6.4              The number of Users permitted in each Soldo Account depends on the Soldo Plan You have in place.

6.5              You can control the access that a User has to the resources and Services of an Account through the use of Permissions.

6.6              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.

6.7              Whilst You and any User can set controls to Your Soldo Account and Your Cards, You must make sure that any Internal User below the age of 18 years does not use Your Soldo Account to make a Transaction that is age restricted, for example, for gambling, adult entertainment or to purchase alcohol.

6.8              We reserve the right to refuse to register any Internal or External 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.

7.2              Funds can be transferred into a Wallet of Your Soldo Account, by You or, if applicable, by other individual or entity You have authorised, using one of the available Deposit Services available in the country in which You are resident. If funds are received from a third party that was 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. We reserve the right to refuse to accept any particular fund transfer.

7.3              A User that has been authorised to do so through the Permissions can transfer funds between Wallets at any time using the Internal Transfer Service.

7.4              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).

7.5              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.

7.6              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.

7.7              The Account Holder and 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.

7.8              You agree that We may apply spending and withdrawal limits to your Account (please see the Fees and Limits Summary for details). Spending and withdrawal limits may also apply to Transactions made using a Card (see Fees and Limits Summary for details).

7.9              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 an Internal Transfer or External Transfer; when you press “Confirm” to confirm the Transaction.

7.10           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.

7.11           Authorisation for a Transaction may not be withdrawn (or revoked) after We have received it.

7.12           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 (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, therefore We are not responsible for and cannot guarantee You will receive a favourable exchange rate. 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).

7.13           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 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.            FEES

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 to Soldo Account Holders, then the use of such Service will be subject to its own terms and conditions of use and fees to use such Service 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 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 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 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.          LIABILITY

12.1           You should treat the funds held in Your Wallet 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 Wallet 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 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.          STATEMENTS

13.1           You can view Your Soldo Account, 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.

13.2           If you would like to receive a copy of Your Soldo Account statements, please contact Customer Care and We will send a copy by email.

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. 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 up to 14 days after it is opened (the “Cancellation Period”), without reason, by contacting Customer Care. We will not charge You a cancellation fee. We will require You to confirm Your wish to cancel in writing. This will not entitle You to a refund of any Transactions You or any User have made (authorised or pending) or charges incurred in respect of such Transactions. On closure of Your Soldo Account, all Services connected to it, for example, Cards, will also be terminated in accordance with the terms and conditions governing their use.

15.2           Depending on the method by which You choose to have Your remaining Soldo Account balance refunded, a fee may be charged which will be deducted from the balance of Your Account (See Fees and Limits Summary for details).

15.3           You may cancel Your Soldo Account at any time and without penalty (i) during the Cancellation Period (see Section 14.1 above) or (ii) if You disagree with a change we intend to make to these Terms and Conditions; or (iii) at any time for any reason.

15.4           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.

15.5           We can terminate Your Soldo Account at any time providing We give You 2 months’ notice. In such circumstance We will refund any remaining funds in Your Soldo Account to Your nominated bank account.

15.6           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.

15.7           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.

15.8           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.

15.9           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.

15.10       These Terms and Conditions, Your Soldo Account, all Cards and other services linked to it will terminate in the event of Your death.

15.11        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.

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 Paysafe;

·  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.

16.6           If, when You apply for a Soldo Account, You opt in to receiving marketing information via email/mobile phone and/or do not opt out of receiving marketing information by telephone or post, We and third parties with whom We may share Your personal data, for example, Soldo, may from time to time contact You about products or services that We or they think may be of interest to You. If You no longer wish to receive such communications please contact Customer Care or update Your preferences on the Website. Further information about how Soldo uses personal information can be found in Soldo’s Privacy Policy.

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 Services in conjunction with the Soldo Account.

18.2           If You or a User make use of the Services You are accepting the terms and conditions of such 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, You may contact the Financial Ombudsman Service.

19.3           You may contact the Financial Ombudsman Service by:

a)       post – addressing Your complaint to the Financial Ombudsman Services, South Quay Plaza, 183 Marsh Wall, 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 complaint.info@financial-ombudsman.org.uk.

The Financial Ombudsman Service’s website is 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.          GENERAL

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 non-exclusive jurisdiction of the English courts.


ANNEX 1 – Card Terms and conditions

1.                   Introduction

1.1               These Card Terms and Conditions form the agreement between You and Paysafe Financial Services Limited (“Paysafe”) in relation to the use of Cards.

1.2               Paysafe 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.

1.3               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.

1.4               The definitions in Section 1 of the Soldo Account and Services Terms and Conditions will also apply to these Card Terms and Conditions.

1.5               The processing of Your data by Paysafe is governed by Paysafe’s privacy policy which can be found here. By accepting these Card Terms and Conditions, You also agree to the terms of Paysafe’s privacy policy.

2.                   CARD USERS

2.1               You can apply to Paysafe 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 8 years old and a resident in one of the Supported Countries.

2.2               Paysafe will consider Your application for a Card, and if Paysafe accepts it, it 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.

2.3               You are responsible for each Card User’s use of their Card (this includes You being responsible under the Soldo Account and Services 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 9 Fees and Limits Summary.

2.4               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 14.1 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.

2.5               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 Account and Services Terms and Conditions.

3.                   signing and activating a card

3.1               A Card User must sign a physical Card as soon as they receive 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.

3.2               A virtual Card can be used immediately upon receipt and does not need to be activated.

4.                   USING a CARD

4.1               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).

4.2               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.

4.3               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.

4.4               For information on the following areas, please see the following Sections of the Soldo Account and Services 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 Paysafe or Soldo or payable to Paysafe or Soldo;

(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.

5.                   paysafe’s RIGHT TO SUSPEND OR CANCEL a CARD

5.1               Paysafe may at any time suspend or cancel a Card if:

(a)                the Card has been lost or stolen;

(b)                Soldo or Paysafe is concerned about the security of the Card or Your Soldo Account;

(c)                 Soldo or Paysafe suspect the Card is being used in an unauthorised or fraudulent manner;

(d)                Paysafe is required to do so to comply with the law; or

(e)                Paysafe is requested to do so by Soldo on the basis of their rights under the Soldo Account and Services Terms and Conditions.

5.2               If Paysafe suspends or cancels a Card in accordance with Section 5.1 above, Paysafe and/or Soldo 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.

5.3               In such circumstances, You must ensure that You or a Card User stops using the Card and in accordance with Paysafe’s instructions either returns it to Paysafe or destroys it. ‎If after further investigations Paysafe believes that the relevant circumstances no longer apply or exist, then Paysafe will, as appropriate, either direct Soldo to re-activate the Card or will issue a replacement Card.

6.                   KEEPING CARDs SAFE

6.1               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.

6.2               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; 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.

6.3               If a You or a Card User suspects that someone else knows the PIN, You must ensure that You or the Card User lets Paysafe and Soldo 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.

7.                   paysafe’s LIABILITY

7.1               Paysafe 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 Paysafe of these Card Terms and Conditions due to abnormal or unforeseen circumstances beyond Paysafe’s reasonable control, which would have been unavoidable despite all of Paysafe’s efforts to stop it;

(c)                 Paysafe suspending or cancelling a Card or refusing to issue or replace a Card in accordance with these Card Terms and Conditions;

(d)                Paysafe’s compliance with any applicable laws and regulations;

(e)                loss or corruption of data unless caused by Paysafe’s willful default/wrong doing;

(f)                  Soldo not authorising a Transaction that You or a Card User attempt to make using a Card; or

(g)                Soldo suspending, restricting or cancelling Your Wallet or Soldo Account.

7.2               Paysafe will not be liable for the goods or services that a Card User purchases using a Card.

7.3               Where a Card is faulty Paysafe’s liability shall be limited to replacement of the Card.

7.4               Nothing in these Card Terms and Conditions will exclude or limit Paysafe's liability for death or personal injury or to the extent that it cannot otherwise be limited or restricted by law.

8.                   LOST OR STOLEN CARDS

8.1               If You or another Card User believe that a Card has been lost, stolen or misused You must ensure that You or the Card User immediately calls Customer Care.

8.2               Paysafe (acting through Soldo) may also require You or the Card User to provide details in writing; and, at Paysafe’s reasonable request, You must help, and must ensure that the Card User helps, Paysafe and its agents or any enforcement agency in investigating the matter.

8.3               If You or a Card User report a Card as lost or stolen, Paysafe will cancel it (and may issue a new one, for which a fee may apply, in accordance with Section 12). If You or a Card User find the Card after You have reported it lost, stolen or misused, You must ensure that You or the Card User destroys it.

9.                   EXPIRY OF a CARD

9.1               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.

9.2               Paysafe reserves the right to decline to issue a new Card if:

(a)                Soldo or Paysafe is concerned about the security of the Card or Your Soldo Account;

(b)                Paysafe is required to do so to comply with the law; or

(c)                 Paysafe is requested to do so by Soldo on the basis of their rights under the Soldo Account and Services Terms and Conditions.

10.               REPLACEMENT CARDS

10.1           If asked to, Paysafe 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 Paysafe with the Card number of the damaged Card and other information Paysafe may need to identify You or a particular Card User.

10.2           Paysafe reserves the right to refuse to issue a replacement Card if:

(a)                Soldo or Paysafe is concerned about the security of the Card or Your Soldo Account;

(b)                Paysafe is required to do so to comply with the law; or

(c)                 Paysafe is requested to do so by Soldo on the basis of their rights under the Soldo Account and Services Terms and Conditions.

11.               YOUR CANCELLATION AND TERMINATION RIGHTS

11.1           You may cancel a Card and these Card Terms and Conditions in relation to that Card:

(a)                up to 14 days after it is received, without having to give Paysafe any reason, by contacting Customer Care. Paysafe will not charge You a cancellation fee. Paysafe may ask You to confirm Your wish to cancel in writing. This will not entitle You to a refund of any Transactions made using the Card (authorised or pending) or charges incurred in respect of such Transactions; or

(b)                at any time for any reason, in which case a cancellation fee may apply (see Fees and Limits Summary for details).

11.2           If You cancel a Card under Section 11.1(a), You are not entitled to a refund of the Card issuing fee (where one applies).

11.3           You may terminate these Card Terms and Conditions:

(a)                without charge, at any time if You do not wish to accept a change Paysafe has notified You that it intends to make to these Card Terms and Conditions (see Section 15 below); or

(b)                at any time for any other reason, in which case if You terminate within the first 12 months of agreeing to these Card Terms and Conditions, a cancellation fee may apply (see Fees and Limits Summary for details).

11.4           To cancel a Card please contact Customer Care and Paysafe 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.

11.5           If You do not cancel a Card under Section 11.1(a), these Card Terms and Conditions will apply in relation to that Card.

11.6           You will be responsible under the Soldo Account and Services 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.               PAYSAFE’S RIGHTS TO CANCEL a CARD AND terminate THESE TERMS AND CONDITIONS

12.1           Paysafe 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.

12.2           Paysafe 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)                Paysafe has reason to believe that You or a Card User has used or intends to use a Card for fraudulent or other unlawful purposes.

12.3           Paysafe will let You know if it terminates these Card Terms and Conditions (and use of Cards) if Paysafe is legally permitted to do so.

12.4           Termination of the Soldo Account and Services 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).

12.5           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.

13.               paysafe’s right to change these card terms and conditions

13.1           Paysafe may from time to time need to change these Card Terms and Conditions. Paysafe can anticipate some of the reasons why it would be fair for Paysafe to do this, and has listed them below, but may in the future also want to make changes for other reasons.

13.2           Paysafe 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 Paysafe or that Paysafe reasonably thinks will affect it:

(a)                because of a change in legal or regulatory requirements, for example if Paysafe has 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 Paysafe’s 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.

13.3           Paysafe may also make a change to these Card Terms and Conditions to respond to any other change that affects Paysafe, if Paysafe reasonably thinks 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 Paysafe.

13.4           Paysafe may make changes for any other reason it cannot foresee, for example to respond to changes among competitors that affect how Paysafe wishes to deliver its services to You.

13.5           Paysafe 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.

14.               other terms

14.1           These Card Terms and Conditions will apply until terminated or cancelled by You or Paysafe under Section 11 or 12.

14.2           You can ask Paysafe 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.

14.3           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.

14.4           Paysafe may choose not to enforce its rights against You and make this contractually binding against Paysafe by giving You a notice which expressly states that Paysafe has chosen to do so. In all other cases, if Paysafe chooses not to exercise its rights against You, it can still do so at a later date.

14.5           Paysafe may transfer its rights and obligations under these Card Terms and Conditions to another person by giving You 2 months’ notice in writing. If Paysafe does this, Your rights under these Terms and Conditions will not be affected.

14.6           English law will decide any legal questions about these Card Terms and Conditions, and about Paysafe’s 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.

15.               INFORMATION ABOUT US

15.1           Paysafe is a company incorporated in England and Wales under company registration number 4478861, whose registered office is at Compass House Vision Park Chivers Way, Histon, Cambridge CB24 9BZ.

15.2           You can contact Paysafe at that address or through Customer Care.

15.3           Paysafe is authorised and regulated by the UK Financial Conduct Authority as an electronic money institution under firm reference number FRN 900015, and is a MasterCard scheme member.

16.               how to contact us

16.1           If You have any questions or queries about Your Card please contact Customer Care.

17.               COMPLAINTS

17.1           You may request a copy of Paysafe’s complaints procedure at any time by contacting Customer Care.

17.2           If Paysafe does 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 South Quay Plaza, 183 Marsh Wall, 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 residents of the following countries:

ITALY AND UNITED KINGDOM

Soldo has been authorised by the Financial Conduct Authority to issue electronic money (e-money) and provide payments services in the following Countries 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 ($)

The Account Holder can create a Wallet in any of the Supported Currencies. We or Paysafe can decide to support additional currencies as well as stop supporting existing currencies at any time without prior notice to You.

ANNEX 4 – DEPOSIT SERVICES

Funds can be transferred into Your Soldo Account in one of the following ways. Deposit Services may be amended or withdrawn from time to time with immediate effect at Our sole discretion

·         By Making a bank transfer

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.

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 changed in one of the Supported Currencies at the conditions defined 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 conditions defined 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.

Any bank transfer received that is required to be returned may incur in a processing fee (See Fees & Limits Summary – Transaction investigation fee).

·         By using a credit/debit card

Subject to the costs and limits specified in the Fees and Limits Summary You can deposit money in Your Account by using a Debit or Credit Card issued in the name of the Account Holder. We currently accept Visa and MasterCard but limitations may apply according to the country in which You are resident.

·         By using cash through specified Payment Service Providers

Subject to the costs and limits specified in the Fees and Limits Summary You or a third party can deposit money in Your Account by using cash. 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.

·         By any other Soldo Account Holder

Subject to Permissions you have set in Your Account any of the other Soldo Account Holders may deposit money in Your Account directly. This is also defined as Person-to-Person (P2P) transfer. This feature is not available yet.

ANNEX 5 – INTERNAL 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

This feature is not available yet.

ANNEX 7 – EXTERNAL TRANSFER SERVICES

Subject to internal risk restrictions and to costs and limits as specified in the Fees and Limits Summary, the Account Holder may request Us to transfer part or all of the balance available in the Soldo Account to another Soldo Account.

ANNEX 8 – MONEY TRANSFER SERVICES

Subject to internal risk restrictions and to the costs and limits specified in the Fees and Limits Summary, the Account Holder may request Us to transfer part or all of the balance available in Your Soldo Account to an external bank account held by the same Account Holder.


ANNEX 9 – FEES AND LIMITS SUMMARY

PRICE TABLE

 

SOLDO PLAN:

PERSONAL/FAMILY

FIXED FEES

 

User monthly Fee* (per User)

 

Payment in advance

£2.00

User monthly Fee (User with no Cards)

 

Payment in advance

ZERO

VARIABLE FEES

 

Soldo MasterCard

 

Plastic Card Issuing Fee /Additional Plastic Card Issuing Fee

ZERO / £ 5.00

Virtual Card Issuing Fee

ZERO

Card Replacement Fee (Plastic/Virtual)

£5.00/ZERO

Plastic Card Renewal Fee at expiration

ZERO

Virtual Card Renewal Fee at expiration

ZERO

TRANSACTION FEES

 

Deposit Services

 

Bank Transfer1

ZERO

Card2 (Visa / MasterCard) – up to £50

£0.50

Card2 (Visa / MasterCard) – above £50 and up to £100

£1.00

Card2 (Visa / MasterCard) – above £100 and up to £200

£2.00

Card2 (Visa / MasterCard) – for each incremental £100 or part thereof above £200

£1.00

Cash

n/a

Withdrawal at cashpoint

 

Located in UK

£0.50

Located in EEA

£1.00

Located outside EEA

£2.00

Foreign Exchange transaction Fee3

ZERO

MISCELLANEOUS

 

Bank Transaction Fee

£1.00

Transaction Investigation Fee

£10.00

Account / Card Cancellation Fee

ZERO

 

1 – Soldo does not charge any Fees however bank transfer fees may apply.

2 – Soldo currently accepts only debit cards in the UK.

3 – 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, therefore We are not responsible for and cannot guarantee You will receive a favourable exchange rate. 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.

4 – Unless otherwise stated, limits apply per Soldo Account. Soldo reserves the right to modify Account limits at its discretion.

*- Promotions may apply


 

LIMITS TABLE4

 

SOLDO PLAN:

PERSONAL/FAMILY

DEPOSIT & ACCOUNT LIMITS

 

Maximum deposit amount per calendar month (per Account)

£10,000

Maximum deposit amount in a year (per Account)

£25,000

Maximum balance on Account at any time

£10,000

Bank Transfer

 

Minimum deposit amount per single transaction

£0

Maximum deposit amount per single transaction

£10,000

Payment Card2 (Visa / MasterCard)

 

Minimum deposit amount per single transaction

£20

Maximum deposit amount per single transaction

£200

Maximum number of card deposits per day

2

Cash

 

Maximum deposit amount per single transaction

n/a

Maximum deposit amount per day

n/a

Maximum deposit amount per calendar month

n/a

TRANSACTIONS LIMITS ADULT

 

Maximum purchase value per single transaction

£2,500

Maximum purchase value per day

£5,000

Maximum number of POS transactions per day / calendar month

25 / 400

Cashpoint withdrawal limit per transaction

£200

Cashpoint withdrawal limit per day

£500

Cashpoint withdrawal limit per calendar month

£1,800

Maximum number of cashpoint withdrawals per day / calendar month

5 / 50

TRANSACTIONS LIMITS MINOR

 

Maximum purchase value per single transaction

£500

Maximum purchase value per day

£1,250

Maximum number of POS transactions per day / calendar month

15 / 200

Cashpoint withdrawal limit per transaction

£200

Cashpoint withdrawal limit per day

£400

Cashpoint withdrawal limit per calendar month

£1,800

Maximum number of cashpoint withdrawals per day / calendar month

2 / 20

 

1 – Soldo does not charge any Fees however bank transfer fees may apply.

2 – Soldo currently accepts only debit cards in the UK.

3 – 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, therefore We are not responsible for and cannot guarantee You will receive a favourable exchange rate. 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.

4 – Unless otherwise stated, limits apply per Soldo Account. Soldo reserves the right to modify Account limits at its discretion.

*- Promotions may apply


ANNEX 10 – PERMISSIONS

The Account Holder and any other User delegated by the Account Holder 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 11 – 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 12 – CARD SETTINGS

The Account Holder and any other User delegated by the Account Holder 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 13 – CUSTOMER CARE CONTACTS

Customer Care is provided by Soldo or affiliates acting also on behalf of Paysafe.

Our Customer Care department is open from Monday to Saturday – Excluding Bank holidays – from 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:

Email:                                                   support_uk@soldo.com

Post:                                                     SOLDO FINANCIAL SERVICES LTD

                                                               BOX 324, 19-21 Crawford Street, London W1H 1PJ

Telephone:                                        +44 203 529 3621 (from UK and abroad)

                                                               A voice mail service is available

Lost or Stolen Telephone:           +44 203 529 3621 (from UK and abroad)

                                                               A voice mail service is available