IMPORTANT INFORMATION: These are the terms & conditions of the agreement between us, Prepaid Financial Services Ltd, 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT and you, the person entering into the agreement in relation to your Three Money Prepaid Mastercard® Please read this Agreement carefully before activating your Account. The terms of this Agreement and fees shall apply to all Customers. Activation of your card is deemed as your acceptance of this agreement. The term of this agreement is from activation of your card to the expiry date of your card, unless otherwise stated in the conditions of this agreement
1. Definitions & Interpretation
In this document, if we use words that start with a capital letter, that means the word has been defined in this ‘Definition & Interpretation’ section.
|"Account"||a non-deposit non-interest bearing pre-paid electronic account associated with a Card and maintained for the sole purpose of enabling Transactions;|
|"Account Information Service Providers"||Under PSD2 an 'account information service' is an online service which provides consolidated information on payment accounts held by a payment service user with payment service providers|
|"Authorised"||act of authorising the payment transfer by using the Card together with (i) the PIN Code or with (ii) the CVC Code and expiry date or with (iii) the signature of the Cardholder; (IV) contactless payment where permitted.|
|"Available Balance"||the value of unspent funds held by the customer available to load onto your Account and available to use;|
|"Business Day"||Monday to Friday, 0900hrs to 1800hrs GMT, excluding bank and public holidays in the United Kingdom|
|"Chargeback"||is the return of funds from a transaction made by you the customer which is initiated by PFS on your behalf;|
|"Customer"||the person who has applied successfully for a Payment Service and has been issued at least one Card by us and who is the legally and financially responsible person to whom the Payment Services are provided by us;|
|"Customer Due Diligence"||level of the Know your Customer requirements where we must collect proof of identification and proof of residence of cardholders.|
|"Customer Service"||assistance and advice provided by our contact centre to those people who buy or use a Card branded or associated with Three Ireland|
|"Fee(s)"||The monetary charge per transaction made by the Customer;|
|"Financial Services Compensation Scheme (FSCS)"||The FSCS is the compensation fund for customers of authorised financial services firms. FSCS may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. If the firm has stopped trading or has been declared in default.|
|"KYC"||Know your Customer in conjunction with Anti-Money Laundering regulatory requirements;|
|"Limitation Period"||means the period of 6 years following termination of this Agreement;|
|"Merchant"||a retailer or any other person that accepts e-money;|
|"Payment Services"||means all payment and e-money services and any related services available to the Customer through the use of the Account and/or Card;|
|"Payment Services Directive 2"||(PSD2) means EU Directive 2015/2366 relating to payment services as amended or replaced from time to time and transposed into law as the Payment Services Regulation 2017|
|"Personalised Card"||a physical prepaid card with the customer’s name embossed on the front;||"Purse"||refers to one of up to five purses where you can store money on your account that is separate from your Available Balance;|
|"Simplified Due Diligence Card"||A card subject to lower limits in addition to annual load and ATM access limits reduced and restricted to domestic access in Ireland;|
|"Systems and Schemes"||MasterCard as shown on your Card;|
|"Three Ireland"||Three Ireland Services (Hutchison) Limited of 28-29 Sir John Rogerson’s Quay, Dublin 2, Ireland and any affiliate company under common ownership.|
|"Three Ireland Services Customer"||An individual who receives either wireless internet access services or mobile telecommunications services from Three Ireland on a postpaid (and not a pre-paid) basis.|
|"Transaction"||realising or attempting to make: (i) a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of the Payment Services, including where payment is made over the internet, by phone or mail order, including Point Of Sale and ATMs;|
|"we", "us" or "our"||Prepaid Financial Services Ltd as the e-money issuer;|
|"you" or "your"||The Customer and/or any person who has been provided with a Card by the Customer for use in accordance with these Terms and Conditions.|
2. Contact Us2.1 Your Cards can be managed online at money.three.ie or call +353 61 203357 to report your cards lost or stolen or contact us by email at email@example.com.
2.2 At any time during the contractual relationship you shall have the right to receive, on request, these terms and conditions free of charge.
3. Your Agreement with Us
3.1. The issuer for Your Three Money Prepaid MasterCard Card is Prepaid Financial Services Limited. The Payment Services are also provided by us, and we are a registered company in England and Wales. Our Company Registration Number is 6337638. We are authorised and regulated as an e-money issuer by the Financial Conduct Authority. Registered Office: 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT.
3.2. Details of Our authorisation licence by the Financial Conduct Authority is available on the public register at https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000m4IX9AAM
3.3. Prepaid Financial Services Ltd is licensed as a principal member with the Scheme. MasterCard is a registered trademark of MasterCard International Incorporated.
3.4. These terms and conditions govern the relationship between us and you for the provision of the Payment Services by us to you. This Agreement also contains important warnings and information that may affect your rights and your ability to recover your money. By activating your Account, you shall be deemed to have accepted and fully understood the terms and conditions set out in this Agreement and you agree to comply with these by your use of the Card and/or by indicating your acceptance.
3.5. Your Card is not a credit card and is not issued by a bank. Regardless of the type of Card(s) you have, you will have only one Account where your Available Balance is located.
3.6. Your Payment Services will not be activated unless we have been provided with the required information so that we may identify you and can comply with all applicable KYC and anti-money laundering requirements. We shall keep records of such information and documents in accordance with all applicable legal and regulatory requirements.
3.7. Reference to a currency (e.g. Euros €) shall mean that amount or the euro currency in which your Card is denominated.
3.8. The Available Balance on your Card and/or Account will not earn any interest.
3.9. The Payment Services are prepaid payment services and not a credit or bank product, you must therefore ensure that you have a sufficient Available Balance to pay for each purchase, payment that you make using the Payment Services (including value added tax and any other taxes, charges and fees that are applicable). If for any reason a Transaction is processed and the Transaction amount exceeds the Available Balance, you must repay us the amount of such excess immediately and we shall be entitled to stop any existing or subsequent Transactions from proceeding.
3.10. This Agreement does not give you any rights against a System, its affiliates or any third party.
3.11. Only persons over 18 years of age living in Ireland, who can provide contact details in addition to a valid Irish mobile phone number and email address are entitled to register for the Payment Services.
3.12 Any Transaction on your Card in a currency other than the currency in which your Card is denominated, will require a currency conversion using a foreign exchange rate, which will be deducted from your account. The exchange rate will change from time to time and is available on our website https://prepaidfinancialservices.com/en/exchange-rates
4. Service Limits
4.1 Transactions may be restricted by Card type, individual usage patterns and payment risk profiles. For anti-money laundering and anti-fraud reasons we reserve our rights to change particular payment restrictions (including from those published or included herein) without notice and to the extent required to meet our regulatory obligations.
4.2 Simplified Due Diligence (SDD) cards may be restricted to domestic ATM access, along with reduced annual maximum load limits and capped annual withdrawal limits. These limits will be subject to Scheme and regulatory requirements.
4.3 Your Card may be subject to lower annual load and spend limits. You may be required to supply KYC information before activation of your account and in order to increase annual loading and international ATM access.
5. Use of the Services
5.1 You can use the Payment Services up to the amount of the Available Balance for Transactions at Merchants of the relevant System. If the Available Balance is insufficient to pay for a Transaction, some Merchants will not permit you to combine use of a Card or Account with other payment methods.
5.2. The value of each Transaction and the amount of any fees or charges payable by you under this Agreement will be deducted from the Available Balance. Fees may be collected from the purse with the largest balance if they cannot be deducted from the available balance as set out in section 20.6.
5.3. Once a Transaction is authorised, it may not be withdrawn (or revoked) by you after the time it is received by us. A transaction will be deemed to have been received by us at the time you authorise the transaction as follows:
5.4. In order to protect you and us from fraud, Merchants will seek electronic authorisation before processing any Transaction. If a Merchant is unable to get an electronic authorisation, they may not be able to authorise your Transaction.
5.5. We may refuse to authorise any use of the Payment Services which could breach these terms and conditions or if we have reasonable grounds for suspecting that you or a third party have committed or are planning to commit fraud or any other illegal or un-permitted use of the Payment Services.
5.6. Your ability to use or access the Payment Services may occasionally be interrupted, for example if we need to carry out maintenance on our Schemes. Please contact Customer Services via our website to notify us of any problems you are experiencing using your Card or Account and we will endeavour to resolve any problem.
5.7. You (the Customer) will remain responsible for the use of the Payment Services, and for any fees and charges incurred on your card.
5.8. Your Three Money card is valid for four years. You must not share the details of your Card and transactions must only be made by you as the account holder.
5.9 Where a revocation of an authorised payment is agreed between us and you, we may charge a fee for revocation.
6. Access by Third Party Providers
6.1 You may consent to regulated third party providers (PISPs or AISPs) accessing your account online to make payments or obtain information about balances or transactions on your card and/or account.
6.2 The PISPs and/or AISPs must be appropriately registered and authorised in accordance with PSD2. You should check with the regulatory authority of the relevant country before giving consent.
6.3 Any consent you give to a third-party provider is an agreement between you and it, we will have no liability for any loss whatsoever, as a result of any such agreement.
6.4 Before giving consent, you should satisfy yourself as to what degree of access you are consenting to, how it will be used and who it may be passed on to.
6.5 You should make yourself aware of any rights to withdraw the consent of access from the third party and what process they have in place to remove access.
6.6 To the extent permitted by law or regulation and subject to any right to refund you may have under this Agreement, between you and us, we are not responsible for any actions that the relevant third party takes in relation to suspending or terminating your use of their service or for any resulting losses. We are also not responsible for, or a party to, any agreement that you enter into with any relevant third party. You should make sure that you read and comply with such agreement or other applicable policies and note that this Agreement will continue to apply including any services and our fees as stated.
6.7 Where appropriate, we may deny access to your account, for any third party where we consider it to be a risk of money laundering or terrorism financing, fraud or other criminal activity. Should we need to take these actions and where possible, we will give reasons for doing so unless restricted by law or for internal security reasons.
7. Condition of Use at Certain Merchants
7.1 In some circumstances we or Merchants may require you to have an Available Balance in excess of the Transaction amount. For example, at restaurants you may be required to have 15% more on your Card than the value of the bill to allow for any gratuity or service charge added by the restaurant or you.
7.2. In some circumstances Merchants may require verification that your Available Balance will cover the Transaction amount and initiate a hold on your Available Balance in that amount, examples include rental cars. In the event a Merchant places a pre-authorisation on your Account, you will not have access to these funds until the Transaction is completed or released by the Merchant which may take up to 30 days.
7.3. You must ensure that your Available Balance has sufficient funds before you make any transactions
7.4. If you use your Card at a fuelling station, subject to Merchant acceptance, your Card may need to be preauthorised for a pre-determined amount in the relevant currency. If you do not use the whole pre-authorisation or do not have Available Balance to obtain a pre-authorisation, it is possible that the pre-authorised amount will be held for up to 30 days before becoming available to you again.
7.5. Some Merchants may not accept payment using our Payment Services. It is your responsibility to check the policy with each Merchant. We accept no liability if a Merchant refuses to accept payment using our Payment Services.
8. Managing & Protecting Your Account
You are responsible for your Card, any username, PIN number and Account passwords. Do not share your Card or Account security details with anyone.
8.2. You must keep your Account, PIN, username and Password safe and separate from your Card or any record of your Card number and not disclose it to anyone else. This includes:
The user of the Card(s) must sign the signature strip on any Personalised Card immediately when received.
8.4 If you forget your PIN, you should contact our Customer Services team for instructions on how to retrieve your replacement PIN.
8.5 The Payment Services may only be used by the Customer.
8.6 You must not give the Card or account details to any other person or allow any other person to use the Payment Services. You must keep the Card in a safe place.
8.7 Failure to comply with clause 8.2 may affect your ability to claim any losses in the event that we can show that you have intentionally failed to keep the information safe or you have acted fraudulently, with undue delay or with gross negligence. In all other circumstances your maximum liability shall be as set out below at clause 15
8.8 If you believe that someone else knows your Account or Card security details, you should contact us immediately.
8.9 Once your Three Money Card on your Account has expired or if it is found after you have reported it as lost or stolen you agree to destroy your Card by cutting them in two through the magnetic strip.
9. Identity Verification
9.1 If you enter into Transactions over the internet, some websites require you to enter your name and address. In such cases you should supply the most recent address which has been registered with us as the Account address. The Account address is also the address to which we will send any correspondence.
9.2. The Customer must notify us within 7 days of any change in the Account address or your other contact details. You can notify us by contacting Customer Services who may require you to confirm such notification in writing. You will be liable for any loss that directly results from any failure to notify us of such a change as a result of undue delay, your gross negligence or fraud. We will need to verify your new Account address and shall request the relevant proofs from you.
9.3. We reserve the right at any time to satisfy ourselves as to your identity and home address (for example, by requesting relevant original documents) including for the purposes of preventing fraud and/or money laundering. In addition, at the time of your application or at any time in the future, in connection with your Account, you authorise us to perform electronic identity verification checks directly or using relevant third parties.
9.4. Cards are issued in accordance with regulatory limits and conditions. Full card limits and usage for cards can be found at https://www.three.ie/3money/3money-fees-and-limits/
10. Cancelling Services
10.1. If you are the Customer and you wish to cancel the Payment Services at any time, you must request cancellation online by informing us of your wish to cancel and to claim a refund of your unused funds by emailing us as specified in section 2 above. You must e-mail us from the e-mail address you provided when registering your Account. Our Customer Services department will then suspend all further use of your Payment Services.
10.2. Once we have received all the necessary information from you (including KYC) and all Transactions and applicable fees and charges have been processed, we will refund to the Customer any Available Balance less any fees and charges payable to us, provided that:
10.3. Once the Payment Services have been cancelled, it will be your responsibility to destroy your Card(s).
10.4. If, following reimbursement of your Available Balance, any further Transactions are found to have been made or charges or fees incurred using the Card(s) or we receive a reversal of any prior funding transaction, we will notify you of the amount and you must immediately repay to us such amount on demand as a debt.
11. Right to Cancel ("Cooling-Off')
11.1 You have a right to withdraw from this Agreement under the following conditions: where you purchased the Payment Services by mail order, internet, fax, digitally or by email then you have a “Cooling Off” period of 14 days beginning on the date of the successful registration of your Account to withdraw from this Agreement and cancel the Payment Services, without any penalty but subject to deduction of any reasonable costs incurred by us in the performance of any part of the provision of services before you cancel. You must contact us within this 14 day period and inform us that you wish to withdraw from this Agreement and you must not use the Payment Services. We will then cancel the Payment Services and reimburse the amount of Available Balance on the Account to the Customer. However, we reserve the right to hold Available Balance for up to 30 business days from receipt of your instructions before returning the balance, to ensure that details of all transactions have been received.
11.2. After the Cooling Off period you may only cancel the Payment Services as described in clause 10 above.
12. Expiry & Redemption
12.1 Your Card has an expiry date printed on it. The funds on your Account will no longer be usable following the expiry date of the most recent Card that was issued under the Account (“Expiry Date”).
12.2. The Payment Services and this Agreement shall terminate on the Expiry Date unless you request or are issued with a replacement Card prior to the Expiry Date in accordance with clause 12.4 or unless we otherwise agree to continue providing Payment Services to you following the Expiry Date. IMPORTANT - We reserve the right not to provide you with a replacement Card or renew the provision of Payment Services to you in circumstances where you are not a Three Ireland Services Customer on the dates we assess your eligibility to have the Payment Services renewed from the Expiry Date. We will make this assessment during the 2 month period prior to the Expiry Date.
12.3. You may not use your expired Card(s) after the Expiry Date.
12.4. If a Card expires before your Available Balance is exhausted, you can contact Customer Services to request a replacement Card, provided you do so 14 days before the Expiry Date and subject to payment of a fee (where specified).
12.5. Notwithstanding any Expiry Date your funds are available for redemption by contacting us at any time before the end of the 6 years Limitation Period. After the 6 years Limitation Period your funds will no longer be redeemable to you.
12.6. Provided that your request for redemption is made less than 12 months following the Expiry Date redemption will not incur any late redemption fee. In the event that you make a request for redemption more than 12 months after the Expiry Date and before termination of the contract an Account closure fee may be charged (where specified).
12.7. We reserve the right to issue you with a replacement for an expired Card even if you have not requested one. If you have not requested a replacement Card, you will not be charged a Card replacement fee.
12.8. We shall have the absolute right to set-off, transfer, or apply sums held in the Account(s) or Cards in or towards satisfaction of all or any liabilities and fees owed to us that have not been paid or satisfied when due.
12.9. Upon expiry of your Account(s), any credit balance shall be automatically deducted from your account but will still available for you to reclaim within the Limitation Period as per clauses 12.5 and 12.6
13. Termination or Suspension of Your Account
13.1 We may terminate your use of the Payment Services with prior notice of at least 2 months.
13.2. Your use of the Payment Services will be terminated following the Expiry Date in accordance with clause 12.2
13.3. We may terminate or suspend, for such period as may reasonably be required, your use of the Payment Services at any time, without prior notice:
13.4. If any Transactions are found to have been made using your Card after any action has been taken by us under clause 13.1, the Customer must immediately repay such amounts to us.
13.5 We reserve the right to cancel your card after 12 months of inactivity, or where you fail to pay applicable fees or charges, or where you fail to clear any negative balance due on your 3Money Prepaid Card
14. Lost or Theft of your Card
14.1. You are responsible for protecting your funds as if they were cash.
14.2. You should treat your funds like cash in your wallet and look after it accordingly. If you lose your card or it is stolen you may not be able to recover the funds on your Account in just the same way as you would usually not be able to recover cash which you lose or which is stolen from you.
14.3. If your Card is lost or stolen or if you think someone is using the Payment Services without your permission or if your Card is damaged or malfunctions:
14.4 You will be liable up to a maximum of the first €50 of losses arising from any unauthorised Transactions that take place prior to your notifying us of the loss or theft. If our investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence (for example by failing to keep your Prepaid Card or PIN secure), we may reverse any refund made and you may be liable for any loss we suffer because of the use of the Prepaid Card. You will not be held liable for any losses once you have notified us of loss or theft within 13 months of the date of the transaction or unless we reasonably determine that you have acted in accordance with clause 15.1.ii.6 - in which case you shall be liable for all losses.
14.5 Once we have been notified of any loss or theft, we will suspend the Payment Services as soon as we are able, to limit any further losses. We can only take steps to prevent unauthorised use of the Payment Services if you can provide us with the Account or Card number and Username and Password or if you can produce sufficient details to identify yourself and the relevant Account.
14.6 Replacement Cards will be posted to the most recent Account address registered by the Cardholder. Failure to provide the correct address will result in a Card replacement fee.
14.7 If you subsequently find or retrieve a Card that you have reported lost or stolen, you must immediately destroy the found Card by cutting it in half through the magnetic stripe.
14.8 You agree to help us, our agents, regulatory authorities and the police if your Card is lost, stolen or if we suspect that the Payment Services are being misused.
15. Our Liability
15.1. Subject to clause 15.4;
15.1.ii.6.1. undue delay
15.1.ii.6.2. fraudulently; or
15.1.ii.6.3. With gross negligence. (including where losses arise due to your failure to keep us notified of your correct personal details)
15.2. To the fullest extent permitted by relevant law, and subject to clause 15.4, our total liability under or arising from this Agreement shall be limited as follows:
15.3 Nothing in this Agreement shall exclude or limit either party's liability in respect of death or personal injury arising from that party's negligence or fraudulent misrepresentation.
15.4 No party shall be liable for, or be considered in breach of this Agreement on account of, any delay or failure to perform as required by this Agreement as a result of any causes or conditions which are beyond such Party's reasonable control and which such Party is unable to overcome by the exercise of reasonable diligence.
16. Refunds for Transactions
A Transaction shall be considered to be unauthorised if you have not given your consent for the Transaction to be made. If you believe that a Transaction has been made without your consent you should contact us in accordance with clause 2.
16.2. A claim for a refund of an authorised Transaction, where the authorisation did not specify an exact amount of payment transaction, and the amount of the Transaction exceeded the amount that you reasonably could have expected taking into account your previous spending pattern, this Agreement and the circumstances of the case, must be made within 8 weeks from the date on which the funds were deducted from your Available Balance. Within 10 Business Days of receiving your claim for a refund or within 10 Business Days of receiving further information from you, we will either refund the full amount of the Transaction or provide you with justification for refusing the refund.
16.3. If you are not satisfied with the justification provided for refusing the refund or with the outcome of your claim for a refund, you may submit a complaint to us or contact the complaints authority as described in clause 17.
16.4. Where any request, transaction, disputed transaction, arbitration or reversed transaction involves third party costs you remain liable for these and they will be deducted from your account or otherwise charged to you.
17. Payment Disputes
17.1 We are committed to providing an excellent customer experience for all our Customers. If we do not meet your expectations in any way, we want to have the opportunity to put things right.
17.2 In the first instance, your initial communication will be with our Customer Services Team who can be contacted by Email to firstname.lastname@example.org or by phone to +353 61 203557. Our Customer Services Team will listen to your needs and will do their best to solve your issue promptly and fairly. We value the opportunity to review the way we do business and help us meet our customers’ expectations.
17.3 If having received a response from our Customer Services Team you are unhappy with the outcome, please contact the Complaints Team of Prepaid Financial Services Ltd, 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT in writing via email on email@example.com.,
17.4 Once received, the Complaints Team will conduct an investigation and you will receive a response of its findings within 15 days of receipt of the complaint. In exceptional circumstances where we are unable to reply within the first 15 days, we will reply providing a reason for the delay and deadline for response, not more than 35 days after first receipt of complaint.
17.5 If the Complaints Team is unable to resolve your complaint and you wish to escalate your complaint further, please contact the Financial Ombudsman Service at South Key Plaza, 183 Marsh Wall, London, E14 9SR. Details of the service offered by the Financial Ombudsman Service are available at http://www.financialombudsman.org.uk/consumer/complaints.htm or alternatively you can lodge your complaint in your country of domicile with the Online Dispute Resolution process at https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home.show&lng=EN
18. Personal Data
18.1 Prepaid Financial Services Limited is the data controller for your personal data, and Three is the data processor. PFS and Three will comply with our obligations under data protection legislation in relation to the personal data we hold in connection with your Account, in order to provide you with services relating to the Account and this Agreement.
18.3. By agreeing to these terms and conditions, you acknowledge and agree to our processing of your personal data in this way.
18.4. You have the right to receive certain information concerning the personal data we hold about you and to rectify such data where it is inaccurate or incomplete.
18.6 If you have elected to opt in to receive email and SMS marketing, we may share your information with third parties, so they can contact you directly by telephone or email about their products and services. Consent for this purpose will be required at the opt in stage. You are entitled to opt out at any stage by contacting Customer Services Team @ + 353 61 203557.
19. Changes to the Terms and Conditions
We may update or amend these terms and conditions (including our Fees & Limits Schedule). Notice of any changes will be given on the website or by notification by e-mail or by means of mobile device at least 2 months in advance. By continuing to use the Payment Services after the expiry of the 2-month notice period you acknowledge that you indicate your acceptance to be bound by the updated or amended terms and conditions. If you do not wish to be bound by them, you should stop using the Payment Services immediately in accordance with our cancellation policy (see clause 10).
20.1. We may assign our rights, interest or obligations under this Agreement to any third party (including by way of merger, consolidation or the acquisition of all or substantially all of our business and assets relating to the Agreement) upon 2 month’s written notice. This will not adversely affect your rights or obligations under this Agreement.
20.2. We do not intend that any of the terms of this Agreement will be enforceable by a person not a party to it, except that Schemes and their affiliates may enforce any right granted to it under this Agreement.
20.3. Any waiver or concession we may allow you will not affect our strict rights and your obligations under this Agreement.
20.4. The Customer agrees that they will not use the Payment Services in an illegal manner and you agree to indemnify us against any claim or proceeding brought about by such illegal use of the Payment Services.
20.5. This Agreement and the documents referred to in it, constitute the entire agreement and understanding of the parties and supersede any previous agreement between the parties relating to the subject matter of this Agreement.
20.6. We reserve the right to debit fees from other balances held by you with us. Funds may be debited for any uncollected fees due on your Account payable to us from the balance in any purse from your purse balances if your Available Balance does not permit us to debit fees due to us.
20.7. We may debit funds from any of your purses in order to credit your Available Balance if it is negative.
20.8. You may move funds from your Available Balance to any of your five purses and from any of your purses to your Available Balance or any of your other purses as long as the Available Balance is not negative. Transactions will only be authorised and charged against your Available Balance.
20.9. Your purse is used to hold your funds as a credit balance to fund future payments and needs to be in credit to facilitate transactions using that purse. Funds may only be moved from purses to other purses held by you or back to your available balance.
20.10 Funds held in any of your purses are not available for you to spend directly from the purse. In order to spend funds you must move them from your purse to your prepaid card.
20.11 Where applicable funds may be transferred to another Three Money prepaid card from your available balance.
21. Funds Protection
Your funds are safeguarded by law. In the event that Prepaid Financial Services became insolvent your emoney funds are protected against claims made by any other creditors.
22. Regulation & Law
22.1 The Payment Services, Card and Account are payment products and not deposit credit or banking products, as such they are not covered by the Financial Services Compensation Scheme.
22.2 This Agreement and any dispute or claim in relation to this Agreement shall be governed by the laws of England & Wales. However, if you reside outside of England and Wales you may bring an action in your country of domicile.