Debit Card Terms & Conditions - Everup

Debit Card Terms & Conditions

Last Updated: 01/12/2022

1. Who we are

We are everup Limited, a company registered in England under company number 12462608, with its registered address at Arquen House, 4-6 Spicer Street, St. Albans, England, AL3 4PQ (referred to in these terms of service as “everup” “we,” “us” and “our”). We operate the website www.everup.uk and associated mobile applications and online services (collectively referred to as the “Services”).

We are   registered as an EMD agent of Modulr FS Limited, which is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900573) for the issuing of electronic money and payment services (“Partner Institution“). As an EMD agent of Modulr, everup Ltd is entered on the Financial Services Register with reference no. 902939.

2. When these Debit Card Terms and Conditions apply

2.1 The Debit Card Terms and Conditions apply to all Cardholders and any user of the Services who apply for a Card.

2.2 Please read these Debit Card Terms and Conditions, the Terms of Service and the Competition Rules carefully before you use or apply for a Card. They contain important information about your legal rights and obligations. By applying for or using a Card, you confirm that you accept and agree to comply with all of the following:

a) these terms of service;

b) the General Terms & Conditions (the “General Terms & Conditions”, which you can read here);

c) our competition rules (the “Competition Rules”, which you can read here).

2.3 These Debit Card Terms and Conditions and/or the Terms of Service contain the information set out in Schedule 4 of the Payment Service Regulations 2017.

3. Understanding these Terms

3.1. When certain words and phrases are used in these Debit Card Terms and Conditions, they have specific meanings (these are known as “defined terms”). You can identify these defined terms because they start with capital letters, even if they are not at the start of a sentence. Where a defined term is used, it has the meaning set out below or that is given to it in the section of these Terms where it has been defined (you can find these meanings by looking at the sentence where the defined term is included in brackets and speech marks). Any term which is not defined below is defined in the Terms of Service or the Competition Rules.

  • 3DS – means the EMV 3DS service offered by us for you to use when you make a purchase or place an order on the internet with your Card.
  • Account – The electronic money account provided by us in accordance with these Terms and Conditions.
  • Account Information Service Provider – means a third party payment service provider who is authorised by or registered with the Financial Conduct Authority or another European regulator to provide online account information services, who, with your permission will be able to access certain online account information on one or more payment accounts held by you to give you a consolidated view of your payment accounts.
  • AML Policy – everup’s written policy on anti-money laundering and counter terrorist financing as may be amended from time to time by everup.
  • Business Days – Monday to Friday between the hours of 9am-5pm but does not include bank holidays, or public holidays in the United Kingdom.
  • Card – means a Virtual Card or a Physical Card.
  • Cardholder – means the individual authorised to use the Physical Card.
  • Card Scheme -Mastercard and/or Visa or such other payment network through which Card Transactions are processed as may be made available to you from time to time.
  • Card Transaction –means a Virtual Card Transaction or a Physical Card Transaction.
  • CHAPS – the Clearing House Automated Payment System, a service enabling organisations to make same-day payments to an account within the UK, within the CHAPS operating days and times.
  • Confidential Information – any information (whether or not recorded in documentary form, or stored on any magnetic or optical disk or memory) relating to: the business, products, affairs, strategy, contracts, customer relationships, commercial pipelines, business contacts, prospective customers, existing customers, business models, customer pricing, management systems, business methods, corporate plans, maturing new business opportunities, research and development projects, marketing and sales information, sales targets and statistics, discount structures, suppliers and potential suppliers, source codes, computer programs inventions, know-how, technical specifications and other technical information relating to products and services.
  • Data Protection Laws – the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679 as each is amended in accordance with the Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2019 (as amended by SI 2020 no. 1586) and incorporated into UK law under the UK European Union (Withdrawal) Act 2018; and, where applicable, the guidance and codes of practice issued by the Information Commissioner’s Office (“ICO”) or any other supervisory authority;
  • Debit card means a card that meets the definition of a debit card set out in Article 2(33) of the Interchange Fee Regulation
  • Fees – those fees payable by the you and set out in the Fees Table on the App and on everup Website.
  • Information – Means any information related to the organisation, and any personal information related to the Cardholder.
  • Interchange Fee Regulation means Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based payment transactions as amended by the Interchange Fee (Amendment) (EU Exit) Regulations 2019.
  • Introduced Client – Any client of everup which has been introduced through the everup App and whose account is operated by everup based on instructions the everup App receives from the Introduced Client.
  • Merchant- means a merchant authorised to accept Card Scheme-branded Cards.
  • One-Time Passcode – means the six-digit passcode sent to your mobile phone number by us, via SMS.
  • Partner Platform Application Form means the application form identifying the parties, Modulr Products to be provided and commercial terms that form part of these Terms.
  • Partner Platform means the party identified in the Partner Platform Application Form.
  • Payment system means a system which is operated by one or more persons in the course of business for the purpose of enabling persons to make transfer of funds.
  • Physical Card – means a physical card-based payment instrument issued by us to you which uses the Card Scheme payments network, as well as any version or record of such an issued payment instrument stored on the everup app or any other platform which might be used by everup from time to time, and which may be used to facilitate Physical Card Transactions.
  • Physical Card Transaction – means the use of a Physical Card to make a payment to a Merchant.
  • Regulator – the Financial Conduct Authority, located at 12 Endeavour Square, London, E20 1JN or any authority, body or person having, or who has had, responsibility for the supervision or regulation of any regulated activities or other financial services in the United Kingdom.
  • Virtual Card – means a virtual card-based payment instrument consisting of (amongst other things) a unique 16 digit account number issued to you which uses the Card Scheme payments network, as well as any version or record of such an issued payment instrument stored on the everup app or any other platform which might be used by everup from time to time, and which may be used to make Virtual Card Transactions.
  • Virtual Card Transaction – means the use of a Virtual Card to make a payment to a Merchant.
  • you, your – The recipient of our Services.

4. Getting started

Eligibility

.4.1. In order to be eligible for a Card, you must:

a)  be a UK resident;

b)  be 18 years of age or older;

c) be fully able and competent to enter into these Terms, and to abide by and comply with these Terms;

d)  only be using our Services on behalf of yourself, for personal and non-commercial purposes;

e)  not have previously been suspended or removed from using our Services by us for any reason; and

f)  not be in breach of any other agreement to which you are a party by using our Services.

4.2. Additional eligibility requirements may apply to individual Competitions from time to time and will be communicated in the applicable Competition Rules and/or the Competition page on our Services.

Your Card

4.3. In order to obtain a Card, you must register as an everup user and create a Profile via our app. You can do this by downloading the App and following the on-screen instructions.

4.4. By obtaining a Card, you warrant and represent to us that:

a) you have provided accurate, current and complete registration information;

b) you will maintain and keep such information up-to-date at all times;

c) you will not share your password or Profile credentials, your CCV or any other Card Details with any third party;

d) you will keep your Card secure, and accept all risks of unauthorised access of your Card to the extent obtained through the use of credentials under your possession or control or through a computer or device that you use to access the Services;

e) you will immediately notify us if you discover or otherwise suspect any unauthorised access or use related to the Services or your Card;

4.5. Each user is only permitted to have one active Card at any time.

5. Use of Card

5.1. Once you have set up your Profile and provided your ID details, following the ID verification approval, you will be able to open an Electronic Money Account and request a Card with the Partner Institution.

5.2. Although we are the EMD Agent of the Partner Institution, we are not a financial services provider and the Card is not offered, provided, managed or operated by us. The Partner Institution (Modulr FS Limited) will be responsible for providing, operating and managing your Electronic Money Account and your Card, and they may rely on third party banks or other service providers to provide some of these services. Your use of the Card will be subject to the Partner Card Institution’s terms and conditions (“Partner Card Institution Terms“), to which you must comply with in order to continue using the Services.

5.3. Your Account can receive bank transfers and other payment methods as these may added and notified to you by Modulr from time to time. Subject to paragraph 5.4, we will credit your Account when we receive the funds which could be up to three Business Days after the payment being instructed, depending on the payment method.

5.4 Your Card will not be issued if:

5.4.1. the Card/Electronic Money Account has reached the Account Limit; or

5.4.2. the Electronic Money Account is inactive or blocked or terminated;

5.4.3. the sender has provided incorrect or invalid Electronic Money Account details for your Account; or

5.4.4. we have reasonable suspicion of fraudulent or criminal activity concerning the use of the Services

5.5. If we are unable to credit your Account for any of the reasons set out in paragraph 5.4, then the funds may be sent back to the sender without any prior notification to you.

5.6. Where Cards are made available to you, your Account can be used to fund Card Transactions. You can request a Virtual Card or Physical Card to be issued to you via the everup App.

5.7. The value of any Card Transaction, together with any applicable fees and charges, will be deducted from your Account once we receive the authorisation request from the Merchant.

5.8 If the Card Transaction is made in a currency other than in the currency in which the Card is denominated, the Card Transaction will be converted to the denominated currency of the Card by the relevant Card Scheme at a rate set by the Card Scheme on the day we receive details of the Card Transaction. It must be noted that the exchange rate varies throughout the day and is not set by us. You can check the relevant Card Scheme rate in the link provided below:

Visa Card Scheme rate at: https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html.

After the Card Transaction is made, we will provide you with confirmation of the relevant exchange rate used for the transaction as well as of a confirmation of the amount to be paid in the currency in which the card is denominated.

5.9 If you use the Card to make a purchase online you may be asked by the Merchant to use 3DS. Physical Cards are automatically enrolled for use with 3DS. When you use 3DS, you agree that the following shall apply in relation to your use of the Card:

5.9.1. You must provide us with your mobile phone number before you can use 3DS. You must ensure that your mobile phone can receive SMS at the time of your purchase.

5.9.2. When you use 3DS to purchase from a participating Merchant, you will be presented with an electronic receipt and the One-Time Passcode will be sent to your mobile phone. Alternatively to the One-Time Passcode you may be asked to answer some of your security questions which you set up at the time of opening the Debit Card account.

5.9.3. Without your One-Time Passcode and/or the answer to your security questions, you might not be able to make purchases from participating Merchants.

5.9.4. If you update your mobile phone number then you must notify us immediately of your new contact details, to ensure our records are correct.

5.9.5. The One-Time Passcode is valid for the purchase you received it for. You are responsible for the security and confidentiality of your One-Time Passcode and must not share it with anyone else.

5.9.6. You will be responsible for any fees or charges imposed by your mobile phone service provider in connection with your use of 3DS.

5.10. Your Account will be configured and operated by us.

5.11. We are authorised to take instructions from you and, with respect to Physical Card Transactions, you act as the Cardholder. You are responsible for all actions in relation to the Electronic Money Account and/or Card(s).

5.12. A Transaction is deemed to be authorised by you:

5.12.1. when you enter the security information to confirm a Transaction is authorised;

5.12.2. when you submit a request for a creation of a Virtual Card via the App, you shall be deemed to have authorised any subsequent Virtual Card Transaction made using such Virtual Card up to the authorisation value specified when creating the request for creation of the Virtual Card;

5.12.3. when you (i) enter a PIN or provide any other security credentials; (ii) sign a sales voucher; (iii) provide the Physical Card details and/or provide any other details as requested; (iv) touch/wave/swipe the Physical Card over a card reader; or (v) insert the Physical Card into a card device or an ATM;

5.12.4. when you give instructions through a third party (such as the recipient of a Direct Debit Mandate or a Payment Initiation Service Provider).

Once the Transaction is confirmed, we cannot revoke the Transaction.

5.13. You can cancel any Transaction which is agreed to take place on a date later than the date you authorised it, provided you give us notice to cancel no later than close of business on the Business Day before the Transaction was due to take place.

5.14. Cancelling a Direct Debit Mandate or recurring Card Transactions with us will not cancel the agreement with the organisation you are paying. It is your responsibility to tell the organisation collecting the payment about the changes to your instructions.

5.15. If for any reason whatsoever, a negative balance arises because a Transaction is completed when there are not enough funds on your Account for that Transaction, you shall reimburse the negative balance amount immediately, unless circumstances described in sections 6.15 and 6.16 apply. You agree that once we make this negative balance known to you, we will charge you the amount of negative balance and you must repay it immediately. We may charge the amount of the negative balance against any funds on your Account, including any subsequently loaded funds. Until we are reimbursed this negative balance amount, we may arrange for your Account, including Card(s) to be suspended. We may also report the negative balance to credit reference agencies.

5.16. Where a negative balance arises because of an error on the part of a Merchant where the Card Transaction occurred, we will seek to recover the negative balance amount from the Merchant.

5.17. Where a negative balance arises because of an error on the part of the recipient of the payment or us, we will seek to recover the negative balance amount from the person who made the error.

5.18. The Available Balance on your Account will not earn any interest.

5.19. You can check the balance and Transaction history of your Account at any time via the App.

5.20. You will be provided with a monthly statement using the details we have associated with your Account.

6. Virtual Coins and Competitions

6.1 As a Cardholder you will be eligible to participate in Competitions as described in the Competition Rules. You must read the Competition Rules carefully before participating in any Competition. Each time that you participate in a Competition via the Services, you agree to be bound by and comply with the Competition Rules applicable to the Competition.

6.2 Once you have used your Bonus Entry, you will be required to hold one or more virtual Coins in your Electronic Money Account with us in order to participate in any Competitions provided through our Services.  We will credit your Profile with virtual Coins on Debit Card issuance, when making a Debit Card transaction and, depending on the amount of money held in your Electronic Money Account, at any given time in accordance with the Coin Rules section of the Competition Rules. Virtual Coins should appear automatically in the “balance” section of your Profile. Virtual Coins can only be used to participate in Competitions via our Services. They have no real world monetary value and cannot be traded for money or money’s worth. Virtual Coins do not constitute electronic money for the purposes of the Electronic Money Regulations 2011 or the Electronic Money Directive 2009. The eligibility criteria for receiving virtual Coins is set out in the virtual Coin Rules section of the Competition Rules.

6.3 You will also be eligible to participate in games for each spend of £2 or more using your Card. The type of game available to you will depend on your spend, as follows. Further information in relation to the games is available on our website:

Spend Game type
£2 – £9.99 ‘Lisbon’ games
£10.00-£24.99 ‘Tokyo’ games
£25 or greater ‘Paris’ games

6.4 Users who are eligible to play a game will be in with a chance of winning one or more of the following prizes:

  • Virtual Coins
  • Cash
  • Cashback on a specific purchase
  • A ‘play again’
  • Gadgets
  • 1 ETH (Ethereum coin)
  • 1 BTC (Bitcoin coin)

Bitcoin and Ethereum prizes are paid in the equivalent cash value calculated at the exact date and time of the winning having occurred. The value of both Bitcoin and Ethereum used as reference will be taken from google markets in GBP from these links:

1 Ethereum ETH value

1 Bitcoin BTC value

Where cashback is displayed in percentage on the game, the following prize caps apply:

Cashback Percentage CAP Applied
0.25% £ 15.00
0.5% £ 15.00
0.75% £ 15.00
1% £ 20.00
3% £ 100.00
4% £ 100.00
100% £ 100.00
200% £ 200.00
0.3% £ 15.00
0.8% £ 15.00
0.2% £ 15.00

6.5 If you win a prize for which you became eligible due to making one or more transactions on your Card (whether under section 6.3 above, or using virtual Coins earned as a result of Card transactions under section 6.2 above), you will cease to be eligible for the applicable prize if the applicable transaction(s) is/are subsequently reversed. As a result: (a) there may be a delay in the payment or transfer of prizes for which you became eligible due to Card transactions, where we reasonably consider there to be a risk of the transaction being reversed; and (b) if the applicable transaction is reversed after you have received the applicable prize, we reserve the right to reclaim the prize from you.

7. Data Protection

14.1 The privacy of your personal data is important to us. Please see our Privacy Policy for details of how we will process your personal data.

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