These are the terms and conditions of the agreement between Centtrip, Prepaid Financial Services – and you, the person entering into the agreement in relation to your Global Currency Account and Centtrip Prepaid Mastercard® card.
Please read this Agreement carefully before activating your Global Currency Account. The terms of this Agreement and fees displayed on the Online System (or otherwise agreed with you) shall apply to all Clients. Services are provided in partnership with named companies and are subject to our Terms & Conditions in accordance with all service partners. For full details of our products and services please refer to www.centtrip.com.
Centtrip Limited is authorised and regulated by the Financial Conduct Authority as an electronic money institution. Our firm reference number is 900717. The Centtrip Prepaid Mastercard card is issued by Prepaid Financial Services Limited pursuant to a license from Mastercard International Incorporated. Prepaid Financial Services Limited is authorised and regulated by the Financial Conduct Authority as an electronic money institution (firm registration number 900036). Their registered office is Fifth Floor, Langham House, 302–308 Regent Street, London W1B 3AT.
“Account” means a single account held by CENTTRIP for the Client’s funds.
“Account Application” means CENTTRIP’s Personal Account Application and other information submitted by the Client prior to the execution of any transaction on behalf of Client.
“Agreement” means these Terms and Conditions (as amended from time to time), the Account Application terms and conditions (as amended from time to time) and the particulars of any Confirmation.
“Balance Due” means the amount of funds sold to CENTTRIP by the Client less any Margin Amount already paid.
“Balance Due Date” means the date on which payment must be received by CENTTRIP. The Balance Due Date must be a Business Day.
“Beneficiary” means the Client or any third party payee so designated by the Client.
“Blocked Person” means any person or organisation: (i) listed in Schedule 2 of the Terrorism Act 2000 (as amended), (ii) listed on the HM Treasury’s Consolidated List of Financial Sanctions Targets, (iii) owned or controlled by, or acting for or on behalf of, any person listed in Schedule 2 of the Terrorism Act 2000 or HM Treasury’s Consolidated List of Financial Sanctions Targets, (iv) with which CENTTRIP is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (v) with whom CENTTRIP believes it is prohibited from conducting transactions by virtue of any government-issued sanctions presently in force or created at a future date, or (vi) that commits, threatens or conspires to commit or supports
“Terrorism” as defined in the Terrorism Act 2000, or(vii) listed on local European member state government restricted persons list.
“Business Day” means a day on which banks are open for general banking business in all jurisdictions involved in the Trade or payment transaction, including in the case of a Trade both countries of the currencies involved in the Trade.
“CENTTRIP” means Centtrip Limited (registered number 08651138) whose registered office is at 1 Mark Square, London, EC2A 4EG.
“Client” means the person named in the Account Application that is entering into this Agreement with CENTTRIP.
“Confirmation” means a) the Trade Confirmation sent by CENTTRIP to the Client setting out details of the Trade, or b) the payment confirmation sent by CENTTRIP to Client setting out the details of the payment instruction.
“Delivery Date” means the date on which funds will be remitted by CENTTRIP upon receipt of the Client’s payment instruction, provided the Client has fully paid for the purchased funds, associated fees and complied with this Agreement. The Delivery Date must be a Business Day.
“E-money” is electronic monetary value, which is the digital equivalent of cash and is issued by an e-money institution and stored on or allocated to an electronic device issued and usable for payments. The Client’s Centtrip Global Currency Account is made up of one or more e-money currency wallets reflecting the balance of e-money issued. E-money can be transferred between the Client’s Global Currency Account and Centtrip prepaid Mastercard(s) via the Online System.
“Facility” means any trading lines, settlement line or foreign currency exposure limit that CENTTRIP has granted to Client.
“Fee” means price payable by the Client for the Services.
“Foreign Currency” means any currency offered by Centtrip to its Clients other than Pound Sterling.
“Forward contract” means a contract relating to a currency that is a means of payment that: (i) must be settled physically otherwise than by reason of a default or other termination event; (ii) is entered into by at least a person which is not a financial counterparty within the meaning of Article 2(8) of Regulation (EU) No. 648/2012 of the European Parliament and of the Council; (iii) is entered into in order to facilitate payment for identifiable goods, services or direct investment; and (iv) is not traded on a trading venue (as defined in Directive 2014/65/EU of the European Parliament and of the Council).
“Insolvent” means insolvent or otherwise unable to pay its debts as they become due, or upon the filing of any proceeding (whether voluntary or involuntary) for bankruptcy, insolvency or relief from creditors.
“Interest Rate” means two percent (2%) above the London Interbank Offered Rate from time to time. The daily Interest Rate shall be the Interest Rate divided by three hundred and sixty-five.
“Loss(es)” mean any and all market losses associated with movements in the foreign exchange rates, damages, costs, liabilities, losses, claims, judgments, penalties, fines, expenses (including reasonable legal and accountants’ fees and expenses), costs of investigation, amounts paid in settlement, court costs and other expenses of litigation.
“Margin Amount” means security, expressed as a percentage of the funds sold to CENTTRIP or an absolute value. Margin Amount may be required by CENTTRIP as a condition of the Trade. Subject to Force Majeure, Margin Amounts are non- refundable until maturity of the Trade.
“Online System” means any electronic system or interface provided by CENTTRIP to its Clients for the purpose of placing Trades, making payments and payment and account management. CENTTRIP may revise the Online System at any time or change its domain, without prior notice and without Client’s consent.
“Trade” means an order placed with CENTTRIP via telephone, facsimile, electronic mail, or Online, or any other mutually agreeable means by which trades are communicated between the Client and CENTTRIP.
“Parties” mean Client and CENTTRIP.
“Services” means CENTTRIP’s provision of various foreign exchange and related services, including without limitation buying and selling of foreign currencies and making or receiving of cross- border payments, purchase and sale of wires and bank drafts in foreign currency.
“unique identifier information” has the meaning given in Clause 5.16.
By placing a Trade with CENTTRIP, Client agrees to the terms and conditions set forth in this Agreement and reaffirms Client’s representations in Clause 8 below and the accuracy of the information in the Client’s Account Application. Upon receipt of a Trade submitted in accordance with CENTTRIP’s Trade process, CENTTRIP will issue a Confirmation to the Client confirming the Trade as stated in the Confirmation. The Client will also be able to view details of the trade within the Online System. The Client acknowledges that the Client is solely responsible for the accuracy of the Trade and agrees to keep copies of any Trades transmitted to CENTTRIP. The Client assumes all risk that the Trade is altered during its transmission, and agrees to carefully review the Confirmation. Subject to this Agreement, CENTTRIP is under no obligation to provide any Service unless a Confirmation has been delivered to the Client.
The Client agrees to promptly notify CENTTRIP if the Client does not receive a Confirmation for its Trade or a payment instruction. The Client agrees that in order to perform transactions for the Client, CENTTRIP must assume that the Client’s instructions are those that appear on the Confirmation and therefore the Client will meet its related financial obligations unless CENTTRIP is informed by the Client of the error or discrepancy prior to the execution of the Trade Order or release of payment according to payment instruction.
Once a Trade has been placed with CENTTRIP, a Trade may not be cancelled by the Client without written approval from CENTTRIP, whether such Trade was placed via telephone, facsimile, electronic mail, the Online System or otherwise.
CENTTRIP may reject, suspend, disregard or cancel a Trade, or refuse to issue a Confirmation for a Trade, if CENTTRIP believes, in its sole discretion, that:
- the Trade is unclear;
- the Trade requires any action by CENTTRIP on a non-Business Day;
- CENTTRIP services have been used for speculative purposes or FX arbitrage;
- consummation of the Trade would require CENTTRIP to exceed the Facility granted to Client;
- the Client is in default of this Agreement;
- performance of the Services would be unlawful or contravene the requirements of any government or regulatory authority; or
- the Client is Insolvent.
The Client agrees to indemnify, defend and hold harmless CENTTRIP from any Losses incurred by CENTTRIP in connection with any Trade(s) that are defective for any of the foregoing reasons.
The Client shall pay all amounts due to CENTTRIP on the Balance Due Date. CENTTRIP may refuse to deliver any funds to Beneficiary unless and until full payment, in the form of good cleared funds from the Client has been received by CENTTRIP. Delivery of the funds purchased from CENTTRIP will be made by CENTTRIP upon the receipt of payment of the Balance Due and the Client hereby accepts CENTTRIP’s standing authority to deliver funds upon receipt of such payment. Failure by the Client to make final payment in full by the Delivery Date will result in Client’s liability as set forth in Clause 3.2, including without limitation interest on the Balance Due, calculated at the Interest Rate. CENTTRIP reserves the right to deduct said interest from the purchased funds and any funds in the Client’s Account.
If the Client fails to make payment for the transaction when required, CENTTRIP may cancel the Trade or proceed with the transaction and take any and all steps necessary to recover the balance due. The Client indemnifies and holds CENTTRIP harmless from any and all Losses incurred by CENTTRIP as a result of the Client’s failure to pay the amount due, with daily interest accruing at the Interest Rate on all unpaid amounts. CENTTRIP reserves the right to claim interest under the Late Payment of Commercial Debts (Interest) Act 1998.
CENTTRIP may satisfy or partially offset any liability that may arise against any collateral CENTTRIP holds for the Client, or any obligation CENTTRIP has to the Client, without prior notice to the Client. In the event such collateral is insufficient, the Client will remain liable to CENTTRIP and will promptly pay on demand the amount of any Losses suffered by CENTTRIP or its affiliates.
Provided that the Client has fully paid for the funds purchased from CENTTRIP and complied with this Agreement, CENTTRIP will hold those funds until CENTTRIP’s receipt of payment instruction from the Client in accordance with Clause 5.15.
The Client hereby authorises CENTTRIP to enter into Forward Contracts based on Trades from the Client in accordance with the terms and conditions of this Agreement. The Client acknowledges and agrees that CENTTRIP may require the Client to provide it with information relating to a proposed Trade in a Forward Contract so as to verify the purpose of the Trade, in particular to ensure that the purpose of the Client in respect of such Trade falls within the definition of “Forward Contract” as specified herein. The Client agrees that CENTTRIP may in its sole discretion determine that a proposed Trade does not fall within the definition of a “Forward Contract” and in such case CENTTRIP shall not accept such proposed Trade. If a proposed Trade in a Forward Contract is accepted, CENTTRIP will provide the Client a Confirmation stating the details of the particular transaction. The Client acknowledges that each Forward Contract is governed by and subject to the terms and conditions of this Agreement and, upon acceptance by CENTTRIP orally, online, or in writing, that each constitutes a binding contract. Forward Contracts may not be cancelled by the Client once the Trade is placed with CENTTRIP.
When entering into a Forward Contract, CENTTRIP, in its sole discretion, may require the Client to pay to CENTTRIP an Initial Margin Amount as collateral. Should the Client fail to pay such Initial Margin Amounts within twenty-four (24) hours of the Trade Date, CENTTRIP may cancel the Forward Contract with immediate effect. In such event the Client shall be liable to CENTTRIP for any and all Losses, and agrees to pay for such Losses within 24 hours, including market losses and expenses incurred in connection with the cancellation. CENTTRIP, however, shall have no obligation or liability to the Client.
From time to time during the term of the Forward Contract, CENTTRIP, in its sole discretion, may require the Client to pay to CENTTRIP certain Margin Amounts to maintain the relative value of the funds purchased from CENTTRIP. Should the Client fail to pay such additional Margin Amounts within twenty-four (24) hours of CENTTRIP’s demand (or as otherwise specified by CENTTRIP), CENTTRIP may cancel the Forward Contract with immediate effect or complete the transaction. In such event the Client shall be liable to CENTTRIP for any and all Losses, and agrees to pay for such Losses within 24 hours, including market losses and expenses incurred in connection with the cancellation. CENTTRIP, however, shall have no obligation or liability to the Client, and CENTTRIP’s sole liability to the Client is the return of any balance remaining of the Margin Amount paid by the Client after deducting any Losses suffered by CENTTRIP sustained in connection with the Client’s default.
The Client acknowledges that the foreign currency market is volatile. Client expressly accepts the risk that if the currency of the purchased funds changes in value during the period covered by the Forward Contract, the value of the amount of currency which the Client agreed to sell to CENTTRIP may be less favorable than the current price for the purchased currency. The Client is aware that Forward Contracts purchased hereunder are not “specified investments” within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (as amended) or any other legislation governing the regulation of financial activities in the UK and are therefore not regulated instruments under the UK’s financial regulatory regime.
In order to use the Online System, the Client will be required to create an electronic account and upon creation of the Client’s electronic account CENTTRIP grants the Client a non-exclusive, non-transferable license to use the Online System for the sole purpose of accessing the Services.
It is the sole responsibility of the Client to safeguard the security of their password and change their password periodically.
The Client agrees that it will not use the account of another person without permission and will provide accurate and complete information to CENTTRIP in all circumstances. The Client expressly acknowledges and agrees that its use of the Online System must be in accordance with this Agreement and any additional user agreement or manual provided by CENTTRIP, including maintaining any minimum operating and Internet browser requirements.
The Client is solely responsible for any and all activity on Client’s Account (save as set out in this Clause 5), and agrees to notify CENTTRIP immediately upon becoming aware of any unauthorised use of Client’s Account.
CENTTRIP will have no responsibility other than as set out in this Clause 5 for any Losses incurred by the Client by reason of the use of Client’s Account, and Client agrees to hold CENTTRIP harmless from any expenses or Losses CENTTRIP may incur by reason of the use of Client’s Account (in each case, whether such use is authorised or unauthorised). The Client agrees that it will:
5.5.1 not attempt to collect or harvest any personally identifiable information, including account names of other clients;
5.5.2 only use the Online System for the purpose set out in Clause 5.1 (and not for any commercial purpose);
5.5.3 not use the Online System in any way that may damage, disable, overburden, or impair CENTTRIP’s servers or networks or interfere with any other client’s use and enjoyment of the Online System.
The Client will not try to gain unauthorised access to any services, user accounts, computer systems or networks, through hacking, password mining or any other means.
The Client acknowledges that the Online System may include certain communications from CENTTRIP or its partners, such as service announcements and administrative messages, and that these communications are considered part of the online service and Client may not be able to opt-out of receiving them. Unless explicitly stated otherwise, any new features that augment or enhance the current Service, including any new Service, shall be subject to this Agreement.
The Online System, the content therein, and all intellectual property pertaining thereto and contained therein (including but not limited to copyrights, patents, trademarks and service marks) are owned by CENTTRIP or licensed through third parties, and all rights, title, and interest therein and thereto shall remain the property of CENTTRIP or of such third parties.
The Online System (and all other related services) is provided “as is” with no representations or warranties of any kind, either express or implied. CENTTRIP shall have no responsibility for transmission errors, faulty or unreliable Internet connections or website downtime outside of CENTTRIP’s control. All Limitation on Liability and Indemnity terms set forth in Clause 11 shall apply fully to the Client’s use of the Online System, as well as any other means of accessing such Services.
CENTTRIP may stop, suspend or restrict the Client’s access to the Services using the Online System if CENTTRIP reasonably considers it necessary:
5.10.1 for security reasons;
5.10.2 because CENTTRIP suspects that someone is using the Online System without the Client’s permission or fraudulently; or
5.10.3 because there is a significantly increased risk that the Client may be unable to fulfil its liability to repay any sums it owes CENTTRIP.
CENTTRIP will always try to inform the Client by telephone before CENTTRIP stops, suspends or restricts the Client’s ability to access the Services using the Online System and its reasons for doing so. Where CENTTRIP is not able to inform the Client before, CENTTRIP will inform the Client immediately afterwards. CENTTRIP will not inform the Client under this Clause where it would be unlawful to do so, or if informing the Client would compromise CENTTRIP’s reasonable security measures.
CENTTRIP will lift any stop, suspension or restriction on the Client’s access to the Services using the Online System as soon as is practicable after the reasons for the stop, suspension or restriction no longer exist. The Client can call CENTTRIP on +44(0) 203 735 1735 to ask CENTTRIP to lift any stop, suspension or restriction.
The Client must take all reasonable steps to keep safe its password and/or security information for the Online System. This includes the Client:
5.13.1 not telling any other person its password and/or security information;
5.13.2 not choosing obvious passwords and/or security information;
5.13.3 not writing down its password and/or security information in a way that could be easily recognised by someone else.
The Client must notify CENTTRIP by telephone or in writing without undue delay on becoming aware of the loss or theft of its password and/or security information for the Online System, or the unauthorised use of the Online System.
The Client can instruct CENTTRIP to make a payment to a Beneficiary using the Online System by inputting the payment details and clicking ‘confirm’ when prompted. CENTTRIP will treat this as the Client consenting to CENTTRIP processing the payment in accordance with the terms of this Agreement. The Client cannot withdraw or amend a payment instruction once it has been submitted.
The Client must provide:
5.16.1 in respect of payments to an account in the United Kingdom, the Beneficiary’s account number and sort code;
5.16.2 in respect of international payments, the Beneficiary’s International Bank Account Number
and Bank Identifier Code and/or such other information as CENTTRIP may advise on the Online System, and CENTTRIP will use this information to process the Client’s payment instruction. CENTTRIP refers to this information as the “unique identifier information” and the Client agrees to check it carefully before submitting it to CENTTRIP.
CENTTRIP will begin processing the payment when it receives the Client’s payment instruction save that if CENTTRIP receives the Client’s payment instruction:
5.17.1 after 12pm UK time on a Business Day; or
5.17.2 on a day that it not a Business Day in the United Kingdom,
the Client’s instructions will be treated as being received by CENTTRIP on the next Business Day.
CENTTRIP may refuse to process, or delay the processing of, a payment where CENTTRIP’S banking or other payment provider partner(s) refuse to process, or the delay the processing of, the payment. This may be for reasons relating to sanctions, anti-money laundering and/or other regulatory issues. CENTTRIP may need to ask the Client for additional information before CENTTRIP’s banking or other payment provider partner(s) will process the payment. CENTTRIP will not be liable to the Client for any Losses it suffers arising out of or in connection with such refusal to process, or delay in processing, the payment.
Payments into the Client’s Account can be made by electronic transfer or e-money wallet to wallet transfer only. CENTTRIP segregates all funds that are received from the Client in exchange for e-money and, where required by law, will deposit such funds into a separate ring-fenced account with another institution. The purpose of this is to protect the Client’s funds from claims made by other creditors if, for example, CENTTRIP becomes insolvent. The Financial Services Compensation Scheme is not applicable for this product.
Once the Client approves a Trade, either by clicking “Yes” or otherwise, the Client shall be responsible for such Trade. The exchange rate visible on the computer screen at the time the Client places the Trade will be the exchange rate applicable to the Client’s Trade. Once placed, a Trade may not be cancelled by the Client without written approval from CENTTRIP.
The Client must notify CENTTRIP by telephone or in writing without undue delay (and in any event no later than 13 months after the date the amount is debited from the Account) on becoming aware of an unauthorised payment or a payment that has been incorrectly executed by CENTTRIP.
If the Client notifies CENTTRIP that a payment from its Account was not authorised in the manner set out in Clause 5.15 CENTTRIP will, subject to Clause 5.22:
5.21.1 refund the amount of the unauthorised payment to the Client as soon as practicable (and in any event no later than the end of the Business Day following the day on which the Client notifies CENTTRIP of the unauthorised payment); and
5.21.2 where applicable, restore the Account to the state it would have been in had the unauthorised payment not taken place.
CENTTRIP will not provide a refund pursuant to Clause 5.21.1 where it has reasonable grounds to suspect that the Client has been engaged in fraudulent behaviour.
The Client’s maximum liability for any losses it incurs in respect of unauthorised payments arising from the Client’s password and/or security information for the Online System being lost or stolen is £35, except where:
5.23.1 the loss or theft of the Client’s password and/or security information for the Online System was not detectable by the Client prior to the payment;
5.23.2 the loss was caused by the acts or omissions of an employee, agent or branch of CENTTRIP, in which case, the Client shall not have any liability in respect of such unauthorised payments (unless it has acted fraudulently).
CENTTRIP will not provide the Client with a refund in respect of unauthorised payments arising from the Client’s password and/or security information for the Online System being lost or stolen where the Client has acted fraudulently or has with intent or gross negligence failed to comply with Clause 5.13 or 5.14.
The Client will not be liable for any losses it incurs in respect of unauthorised payments arising from the Client’s password and/or security information for the Online System being lost or stolen:
5.25.1 which arise after the Client has notified CENTTRIP in accordance with Clause 5.14;
5.25.2 where CENTTRIP has failed to provide the Client with the means to notify CENTTRIP in accordance with Clause 5.14;
5.25.3 where CENTTRIP fails to require strong customer authentication where it is legally required to do so.
Where the Client instructs CENTTRIP to make a payment and CENTTRIP fails to do so or makes it incorrectly, CENTTRIP will, without undue delay, refund to the Client the amount of the payment (if the payment has been debited from the Client’s Account) and restore the Account to the state it would have been in so that it is as if the payment had not taken place, except where:
5.26.1 the Client has provided CENTTRIP with the wrong unique identifier information for the Beneficiary; or
5.26.2 CENTTRIP can show that the funds were received by the Beneficiary’s bank.
Where CENTTRIP fails to credit funds that it receives for the Client to the Client’s Account, CENTTRIP will immediately make available the relevant amount to the Client and, where applicable, credit the corresponding amount to the Client’s Account (so that it is as if the Client received the funds when it should have done).
Where a payment the Client has instructed CENTTRIP to make has been made incorrectly, CENTTRIP will, if the Client asks CENTTRIP to, immediately, and without charge to the Client, make efforts to trace the incorrectly made payment and notify the Client of the outcome.
Where CENTTRIP makes a payment transaction using the unique identifier information that the Client provides for the Beneficiary, and the unique identifier information is incorrect, CENTTRIP will not have any liability for the payment not being made or being made incorrectly. CENTTRIP will however make reasonable efforts to recover the funds involved in the payment. If CENTTRIP is unable to recover the funds, it will, on receiving a written request from the Client, provide the Client with all of the available relevant information CENTTRIP has so the Client can file a legal claim for repayment of the funds (except where it would be unlawful for CENTTRIP to provide this information).
Where funds are paid into the Client’s Account by mistake, CENTTRIP can take them back and return them to the payer. The Client agrees to notify CENTTRIP if it receives any funds into its Account by mistake. If CENTTRIP is unable to recover the funds from the Client, CENTTRIP may be required to provide the payer with all relevant information to assist them in collecting the funds from the Client (and such information may include the Client’s personal information).
CENTTRIP will contact the Client by telephone or by sending a message on the Online System if there are suspected or actual fraud or security threats related to the Client’s Account.
CENTTRIP and the Client may from time to time agree spending limits that apply to payments instructed by the Client using the Online System.
The Client can view information about its Account (including payment information) using the Online System. The Client can download such information in PDF format from the Online System at any time. CENTTRIP will not send the Client a paper statement unless the Client requests one from the CENTTRIP customer service team.
In the event that CENTTRIP is unable to deliver, or is delayed in delivering, purchased funds due to circumstances beyond CENTTRIP’s control, including but not limited to government acts, wars, strikes, riots, other civil disturbances, legal process, electronic failure or mechanical failure, the Client agrees that CENTTRIP shall have no liability for direct, indirect, special, incidental or consequential damages, including, but not limited to, loss of profits or expenses, arising in connection with any transaction entered into with the Client pursuant to this Agreement, any Contract or any Confirmation.
This Agreement will commence on the date that CENTTRIP advises when CENTTRIP confirms to the Client that the Client’s Account Application has been accepted (which shall be at CENTTRIP’s sole discretion) and shall continue in force until terminated by either CENTTRIP or the Client in accordance with these terms and conditions.
The Client may end this Agreement at any time on providing CENTTRIP with not less than one (1) month’s written notice.
CENTTRIP may end this Agreement at any time on providing the Client with not less than two (2) months’ written notice.
CENTRIP may end this Agreement immediately at any time without notice if:
a) the Client is Insolvent;
b) an applicable regulatory or law enforcement authority initiates a regulatory or enforcement action or investigation against the Client which, in the reasonable judgment of CENTTRIP will materially impair the terms of the Agreement, the expected economic value of this Agreement, or the business reputation of CENTTRIP;
c) the Client breaches this Agreement or any terms of a Trade; or
d) the transactions originating under this Agreement are deemed by CENTTRIP, in CENTTRIP’s sole discretion, to represent a regulatory compliance or business risk.
Where the Agreement is terminated, all amounts owed by the Client to CENTTRIP shall become immediately due and payable. Termination of the Agreement shall be without prejudice to any rights, obligations, claims and liabilities which have accrued prior to the date on which the Agreement terminates.
The Client represents and warrants that:
a) it has the authority to enter into the Agreement;
b) all information on the Account Application is true and complete, and Client will promptly advise CENTTRIP of any changes to such information.
c) the Client will have legal title to all funds used in connection with Trades entered into hereunder;
d) the Client will fully comply with all applicable laws and regulations;
e) the Client has all requisite authorizations and approvals to make any payments for the Services.
The Client represents and covenants, that the Client:
a) is familiar with all applicable laws, regulations, orders, etc. in effect from time to time relating to anti-money laundering and counter terrorism (“Anti-Money Laundering and Terrorism Laws”) of the United Kingdom, including the Terrorism Act 2000, the Proceeds of Crime Act 2002, the Serious Organized Crime and Police Act 2005 and the Money Laundering Regulations 2017;
b) acknowledges that the Client’s transactions are subject to applicable Anti-Money Laundering and Terrorism Laws, and that CENTTRIP may provide information to governmental authorities to assist in such regard;
c) will comply in all material respects with all applicable Anti-Money Laundering and Terrorism Laws;
d) acknowledges that CENTTRIP’s performance hereunder may also be subject to compliance with all applicable Anti-Money Laundering and Terrorism Laws;
e) is not a Blocked Person, and the Client will not conduct business with any Blocked Person; and
f) will take such other action as CENTTRIP may reasonably request in connection herewith.
CENTTRIP does not disclose nonpublic personal information about its Clients or former Clients, but may disclose such information in certain limited circumstances such as the following:
a) where it is necessary to effect, administer, or enforce a transaction requested or authorised by the Client, or in connection with servicing or processing a financial product or service requested or authorised by the Client,
b) where such sharing is reasonably necessary to protect the confidentiality or security of Client records, the services or products CENTTRIP offers, or transactions CENTTRIP processes or handles,
c) to protect against or prevent actual or potential fraud, identity theft, unauthorised transactions, claims or other liability, as well as for resolving Client disputes or inquiries or checking credit,
d) to comply with federal, state or local laws or regulations or other legal requirements, such as subpoenas or other legal process. The preceding list sets forth examples only and is not meant to be comprehensive. CENTTRIP also restricts access to Clients’ non-public personal information to those employees and agents who need to know that information to provide products or services to the Client or fulfil certain obligations described above. CENTTRIP also maintains physical, electronic and procedural safeguards to guard Clients’ non-public personal information.
CENTTRIP is committed to safeguarding the Client’s privacy and personal information. CENTTRIP places great importance on the security of the Client’s personal data. CENTTRIP complies with its obligations under applicable data protection laws. The Client has certain rights under such laws including to be informed about how CENTTRIP processes data. Further information on such matters is set out in CENTTRIP’s privacy policy which is available at https://www.centtrip.com/privacy (the “Privacy Policy”).
CENTTRIP may also, in connection with performing the Services or CENTTRIP’s business, transfer Client’s personal data to countries outside of the European Economic Area, however, it will always do so in compliance with applicable data protection law, in particular, to ensure that the personal data is adequately protected. The Privacy Policy sets out further information on these matters.
Unless the Client has indicated otherwise, CENTTRIP may contact the Client (by telephone, mail, or other means) with information about the products and services available which CENTTRIP believes may be of interest to the Client. If the Client prefers not to receive marketing promotions, the Client should advise CENTTRIP in writing and CENTTRIP will cease such contact. The Privacy Policy sets out further information on these matters.
CENTTRIP shall not be liable (whether in contract, tort (including negligence), under statute or otherwise) to the Client for:
- loss of profits; or
- loss of business; or
- depletion of goodwill and/or similar losses; or
- loss of anticipated savings; or
- loss of goods; or
- loss of contract; or
- loss of use; or
- loss of corruption of data or information; or
- any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses, incurred by the Client as a result of this Agreement.
Nothing in this Agreement shall exclude or limit one party’s liability to the other for:
11.2.1 personal injury or death caused by its negligence;
11.2.2 its fraud or fraudulent misrepresentation; or
11.2.3 any matter for which it is not permitted by law to exclude or limit its liability.
All warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from the Contract.
If the Client’s performance of its obligations under the Agreement is prevented or delayed by any act or omission of the Client, its agents, subcontractors, consultants or employees, CENTTRIP shall not be liable for any costs, charges or losses sustained or incurred by the Client arising directly or indirectly from such prevention or delay.
CENTRIP may change the Agreement at any time. CENTTRIP will provide the Client with not less than two (2) months’ advance notice of any such changes (except in the case of changes to exchange rates).
Where CENTTRIP provides the Client with notice of a change in accordance with this Clause, the Client may terminate the Agreement at any time on providing written notice to CENTTRIP. If the Client does not terminate the Agreement before the change comes into effect, the Client will be deemed to have accepted the change.
A person who is not a party to this Agreement shall not have any rights under or in connection with it by virtue of the Contracts (Rights of Third Parties) Act 1999.
CENTTRIP’s failure to exercise any of its rights under this Agreement shall not be deemed a waiver of such rights or remedies at a later time.
If either party brings an action or proceeding to enforce the terms of this Agreement or declare rights under this Agreement, the prevailing party in any such action, proceeding, trial or appeal will be entitled to its reasonable attorneys’ fees to be paid by the losing party as fixed by the court.
This Agreement may be executed in one or more counterparts, each of which will constitute an original, but which will together constitute one agreement.
If any provision hereof shall be held to be unenforceable, illegal, unlawful or void by a court or body or authority of competent jurisdiction, such provision will be deemed to be severed from this Agreement and the remainder of the provisions hereof shall remain in full force and effect and shall be binding upon the Parties.
The original language of this Agreement is English and all notices or other communications given or required under it will be in English. CENTTRIP will provide a copy of this Agreement to the Client at any time during the term of the Agreement on request.
CENTTRIP will contact the Client by telephone, in writing or by sending a message on the Online System using the contact details provided by the Client in its Account Application.
The Client can contact CENTTRIP using the details set out below:
Address Centtrip Limited, 1 Mark Square, London, EC2A 4EG
Telephone +44(0) 203 735 1735
Email
info@centtrip.com
The Client should contact its CENTTRIP account executive if it has a complaint concerning its Account or otherwise in relation to the Agreement. CENTTRIP will deal with all such complaints in accordance with its complaints handling procedure, which the Client may request a copy of from CENTTRIP at any time.
If CENTTRIP fails to resolve the Client’s complaint to the Client’s satisfaction, the Client may refer it to the Financial Ombudsman Service free of charge. The contact details of the Financial Ombudsman Service are:
Address The Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square,
London E14 9SR
Telephone 0800 023 4567
Details of the service offered by the Financial Ombudsman Service are available at www.financial-ombudsman.org.uk.
The Client may be able to submit a claim through the European Online Dispute Resolution Platform (available at: https://ec.europa.eu/consumers/odr/) if they live outside the United Kingdom or if they prefer not to deal directly with the Financial Ombudsman Service.
This Agreement, and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims), shall be governed by, and construed in accordance with, the law of England and Wales.
The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of, or in connection with, the Agreement or its subject matter or formation (including non contractual disputes or claims).
The Client shall not assign this Agreement nor any rights or obligations hereunder without CENTTRIP’s written consent. If CENTTRIP provides its written consent to any assignment of this Agreement, the Agreement shall be binding upon the successors, heirs, and assigns of the Parties.
For record-keeping, fraud- detection or training purposes, CENTTRIP may record telephone calls to or from CENTTRIP and/or CENTTRIP’s representatives with respect to the transactions contemplated herein. CENTTRIP shall not be required to provide copies or tapes of Trades to Clients. If permitted by law, said recordings may be used as evidence for any legal purpose.
This Agreement constitutes the entire agreement between Client and CENTTRIP with respect to the subject matter hereof and supersedes all previous negotiations, commitments and writings.
The Fees payable by, and limits applicable to, the Client are available in the Fee Schedule section of the Online System. For fees relating to card usage please refer here.
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 Customer entering into the agreement (“this Agreement”). Please read this Agreement carefully before activating or using your card or 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.
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 at times to a Card which is maintained for the sole purpose of enabling Transactions;
“Account Information Service Providers” (AISP) 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
“Additional Prepaid Cardholder” where applicable a person who holds a Secondary Card;
“Anonymous Prepaid Card” a prepaid non-personalised card that can be used subject to specified Card limits on loading, transactions and redemption;
“Authorised” act of authorising a Transaction 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;
“ATM” An automated teller machine is an electronic telecommunications device that enables Customers to perform financial transactions, particularly cash withdrawal, without the need for a human cashier, clerk or bank teller. Most ATMs identify the Customer by the Customer inserting the Card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and security information such as an expiration date or CVC2 or CVV. Authentication is provided by the customer entering a personal identification number (PIN).
“Available Balance” the value of unspent funds loaded onto your Account and available to use;
“BIC code(s)” Bank Identifier Code means a standard format code managed by SWIFT now called Business Identifier Codes (BIC) which is used to uniquely identify banks and financial institutions globally - it who and where they are. This code is used when transferring money between banks, in particular for international wire transfers or SEPA payments.
“Business Day” Monday to Friday, 0900hrs to 1700hrs GMT, excluding bank and public holidays in the UK
“Card” a physical device bearing electronically stored monetary value as represented by a claim against Prepaid Financial Services; and/or a physical or digital mechanism providing access to an Account which is issued by Prepaid Financial Services for the purpose of enabling Transactions
“Customer” the person who has applied successfully for a Payment Service and who has been issued at least one Card by us for Card payments or IBAN account details. The Customer is the legally and financially responsible person to whom we provide the Payment Services;
“SEPA Transfer Payment (STP)” A facility available for UK registered Accounts only whereby an instruction from Customer is sent to Prepaid Financial Services, authorising an organisation you wish to pay, to collect varying amounts from your account at periodic intervals.
“EEA” The European Economic Area provides for the free movement of persons, goods, services and capital within the internal market of the European Union (EU) between its 28-member states, as well as three of the four-member states of the European Free Trade Association (EFTA): Iceland, Liechtenstein and Norway.
“Customer Due Diligence” level of the Know your Customer requirements where we must collect proof of identification and proof of residence of cardholders.
“E-money” Electronic money is monetary value, the digital equivalent of cash, issued by an e-money institution and stored on or allocated to an electronic device issued and usable for payments.
“E-Wallet” A payment account issued by Prepaid Financial Services in favour of certain Customers, mostly corporate, permitting the receipt of funds for the loading of Cards and manage Card program related expenses.
“Fee” the price paid by you for the Payment Services
“IBAN” An IBAN, or International Bank Account Number is part of a new international standard that has been adopted as part of the SEPA (Single Euro Payments Area) agreement. IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors. It has been implemented by most European countries and many countries in the other parts of the world,
“Know Your Business” Know Your Business due diligence checks on corporate entities, their directors and beneficial owners as per Anti-Money Laundering regulatory requirements
“Know Your Customer” personal due diligence checks as per Anti-Money Laundering regulatory requirements
“Limitation Period” Where applicable means the period of 6 years following termination of this Agreement;
“Merchant” a retailer or any other person that accepts e-money by virtue of a Merchant account with an acquirer or a payment services provider.
“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.
Payment Initiation Service Provider ( “PISP”) is a party which initiates a payment order requested by you, in relation to your account held at a Payment Service Provider
“SEPA” the Single Euro Payments Area (SEPA) is a payment integration initiative of the European Union to help simplify the process of bank transfers
“Simplified Due Diligence” a means of self-certification for the registration of personal details associated with a Card or Account [SDD]. SDD Cards are subject to lower annual load and ATM limits
“SWIFT” The Society for Worldwide Interbank Financial Telecommunication provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardised and reliable environment
“Secondary Prepaid Mastercard Card” where applicable any secondary card which is issued to an additional person any time after the successful registration of a Primary card or Account;
“Systems and Schemes” the Scheme being Mastercard or Visa as shown on your Card or Account; Systems being the processor.
“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 or by phone
“Virtual Account” A prepaid Virtual Account issued by us enabling you to make Card-not-present (CNP) transactions after sufficient funding of the Virtual Account.
“we”, “us” or “our” Prepaid Financial Services Limited as the e-money issuer and regulated entity;
“you” or “your” The Customer and/or any person or third-party provider authorised by you, for use in accordance with these Terms and Conditions
Your Card or Account can be managed online at www.centtrip.com; or via email to help@centtrip.com; or by phone to +44(0) 203 735 1735. To report your Cards lost or stolen please call +44 (0) 207127 8130 or email help@centtrip.com. At any time during the contractual relationship you shall have the right to receive, on request, these terms and conditions free of charge.
The issuer for the Centtrip Prepaid Mastercard Card and provider of the Payment Services is Prepaid Financial Services Limited (PFS). PFS is registered in England and Wales under Company Registration Number is 6337638. Registered Office: 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT.
PFS is authorised and regulated as an e-money issuer by the Financial Conduct Authority registration number 900036.Details of the PFS authorisation licence by the Financial Conduct Authority is available on the public register at https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000m4IX9AAM
Prepaid Financial Services Limited acts as the programme issuer.
Centtrip Limited (Centtrip) is the programme manager. Centtrip is registered in England and Wales under Company Registration Number 08651138. Registered Office: 1 Mark Square, London EC2A 4EG.Centtrip is authorised and regulated as an electronic money institution by the Financial Conduct Authority (FCA). Firm registration number: 900717.Details of Centtrip’s authorisation is available on the FCA register at https://regis- ter.fca.org.uk/ShPo_FirmDetailsPage?id=001b000003aYxEbAAK.
Prepaid Financial Services Limited is licensed as a principal member with the Mastercard Scheme. Mastercard is a registered trademark of Mastercard International Incorporated.
These terms and conditions govern the relationship between us and you for the provision of the Payment Ser- vices by us to you. This Agreement also contains important information that may affect 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.
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.
Your Payment Services may 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.
Reference to a currency (e.g. Euros € or Sterling £) shall mean that amount or the local currency equivalent in which your Card is denominated.
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
The Available Balance on your Card and/or Account will not earn any interest.
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.
This Agreement does not give you any rights against the Systems and or Schemes, its affiliates or any third party.
Only persons over 18 years of age are entitled to register for the Payment Services.
Transactions may be restricted by Card or Account 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.
Simplified Due Diligence 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.
When sending funds to your account with us, we recommend that senders use the SEPA transfer payment method to send funds to your individual account associated IBAN. If this is not an available option, you are responsible for checking all of the details and references when sending funds as we will not be responsible to do so or for any delays caused by this.
We cannot be held liable for the payment process or fees associated with bank(s) and or intermediary bank(s) to process payments from you to us. Any fee(s) charged to us, not limited to receiving, processing or crediting a payment for you will be deducted by us before crediting the remaining balance to you.
You are responsible for checking and confirming payment details and fees before making a payment to us.
PFS will credit payments received to your account at least once a day and before the end of the Business Day. Payments received after the cut off period will be processed the next Business Day and you will hold PFS free and clear from any responsibility is this regard.
PFS reserve the right to suspend the E-Wallet service for misuse.
Corporate clients will be responsible for sending PFS evidence of source of funds in order for us to meet our regulatory requirements.
Where so enabled you may change your PIN at select ATM’s subject to a Fee.
Where enabled, you may be eligible to instruct companies to create regular Direct Debits from your UK issued and registered Account. You will be responsible for ensuring that the correct details are provided in order for the STP to be created for you. You must ensure at all times that you have a sufficient balance on your account to allow for the funds to be debited from your account. You are responsible for checking the terms and conditions that have been provided to you by the STP originator. PFS and/Centtrip, reserve(s) the right to decline or terminate any STP instruction(s) that you have requested.
You may incur a charge for unpaid STPs if there are not enough funds in your account to pay an incoming STP request
You accept responsibility for cancelling any STP on your Account with the originator directly. PFS and Centtrip will not be able to do this on your behalf and cannot accept liability for any losses due to late or non-cancellation
You may access your account information by logging into your account through our website. From here you will be able to view details on your Transactions, including dates, currencies, charges or exchange rates applied. This information is accessible at any time and can be stored and reproduced as necessary.
You can use the Payment Services up to the amount of the Available Balance for Transactions at Merchants of the relevant System up to the amount of the balance. 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.
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.
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:
i. for purchases and ATM transactions, at the time we receive the transaction instruction from the merchant acquirer or ATM operator, and
ii. for other transactions which are communicated directly to us, at the time you ask us to complete the transaction
Where a revocation of an authorised payment is agreed between us and you, we may charge a fee for revocation.
Within the EEA we will ensure transfer of the payment to the payment service provider of the Merchant within three Business Days. If the payment service provider of the Merchant is located outside the EEA, we will effect payment as soon as possible.
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.
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.
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.
Where applicable, you may apply to us for up to 3 Secondary Cards, for use by Additional Cardholders on your account. Additional Cardholders for whom you are legally responsible must be 13 years of age or older. All other Additional Cardholders must be 18 years of age or older. It is a condition of any registration for a Secondary Card that you, as the Customer, acknowledge that we accept no responsibility or liability of any kind whatso- ever for use of any Secondary Card by any Additional Cardholder for Transactions not authorised by you. If you successfully register, we will send you a Secondary Card, for which we will charge an Additional Card Fee. Upon receipt of the Secondary Card, you may give the Secondary Card to the Additional Cardholder for their use, subject to:
i. you providing them with a copy of these terms and conditions (which will then bind use by both of you);
ii. the Secondary Card must only be used by that person;
iii. you retaining the Primary Card;
iv. you informing the Additional Cardholder that you have retained the Primary Card and that you are still able to use the Account;
v. us obtaining such further information and documentation in order to enable us to comply with all applicable KYC and anti-money laundering requirements.
You will remain responsible for the use of the Payment Services, and for any fees and charges incurred by the Additional Cardholder(s), and you will continue to be regarded as the holder of any funds already or subsequently loaded on the Account. The use of a Card in relation to which an Additional Cardholder has been registered will be regarded as confirmation that you have provided the Additional Cardholder with these Terms and Conditions.
This section6 only applies to cardholders who use third part providers, PISP or AISP, in accordance with PSD2
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.
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.
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.
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.
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.
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.
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.
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.
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.
If you use your Card at an automated fuelling station, subject to Merchant acceptance, your Card may need to be pre-authorised 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.
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.
In relation to any dispute between the you and a Merchant, provided you are able to satisfy us that you have already made all efforts to resolve the dispute with the relevant Merchant, we will attempt to assist you so far as is reasonably practicable. We may charge you a chargeback processing fee as referenced in the Fees & Limits Schedule provided to you, for any such assistance we may give you with any dispute. If there is an un-resolvable dispute with a Merchant in circumstances where the Card has been used for a Transaction, you will be liable for the Transaction and will have to resolve this directly with the relevant Merchant.
You are responsible for your Card, any Username, PIN number and Account passwords. Do not share your Card or Account security details with anyone.
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:
i. memorising your PIN as soon as you receive it, and destroying the post mail or other authorised communication used to transmit it to you;
ii. never writing your PIN on your Card or on anything you usually keep with your Card;
iii. keeping your PIN secret at all times, including by not using your PIN if anyone else is watching;iv not disclosing your PIN to any person.
The user of the Card(s) must sign the signature strip on any Personalised Card immediately when received.
If you forget your PIN, you can retrieve your PIN on the mobile app or online.
The Payment Services may only be used by you.
You must not give the Card to any other person or allow any other person to use the Payment Services. You must keep the Card in a safe place.
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.
If you believe that someone else knows your Account or Card security details, you should contact us immediately.
Once your Card or your Account has expired or if it is found after you have reported it as lost or stolen you must destroy your Card by cutting it in two, through the magnetic strip.
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 by you as the Account address. The Account address is also the address to which we will send any correspondence.
You 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.
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.
Cards are issued in accordance with regulatory limits and conditions. Full card limits are usage for cards can be found on our website.
If 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.
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 you any Available Balance less any fees and charges payable to us, provided that:
i. you have not acted fraudulently or with gross negligence or in such a way as to give rise to reasonable suspicion of fraud or gross negligence; and
ii. We are not required to withhold your Available Balance by law or regulation, or at the request of the police, a court or any regulatory authority.
Once the Payment Services have been cancelled, it will be your responsibility to destroy the Card(s) that were provided to you under the Payment Services.
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.
You have a right to withdraw from this Agreement under the following conditions:
where you purchased the Payment Services 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 you. 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.
After the Cooling Off period you may only cancel the Payment Services as described in clause 10 Above.
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”).
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 13.4 or unless we otherwise agree to continue providing Payment Services to you following the Expiry Date.
You may not use your expired Card after the Expiry Date.
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).
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.
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).
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.
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.
We shall have the absolute right to close your account and submit a chargeback claim if your account is in negative standing for more than 60 days. If our chargeback is successful, funds may only be used to credit your card or account and your account will remain closed.
We may terminate your use of the Payment Services with prior notice of at least 2 months.
Your use of the Payment Services will be terminated following the Expiry Date in accordance with clause 12.2
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:
i. in the event of any fault or failure in the data information processing system;
ii. if we reasonably believe that you have used or are likely to use the Payment Services, or allow them to be used, in breach of this Agreement or to commit an offence;
iii. if any Available Balance may be at risk of fraud or misuse;
iv. if we suspect that you have provided false or misleading information;
v. By order or recommendation of the police or any relevant governmental or regulatory authority.
If any Transactions are found to have been made using your Card after any action has been taken by us under clause 13.1, you must immediately repay such amounts to us.
You are responsible for protecting your funds as if they were cash.
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.
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:
i. you must contact us as soon as possible and you must provide us with your Account or Card number and either your Username and Password or some other identifying details acceptable to us so that we can be sure we are speaking to you; and
ii. Provided we have obtained your consent to close the Account, we will then provide you with a replacement Card with a corresponding new Account loaded with an amount equivalent to your last Available Balance.
You will be liable up to a maximum of the first €50/£35 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. - in which case you shall be liable for all losses.
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.
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.
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 and chip.
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.
Subject to clause 15.4;
i. neither party shall be liable to the other for indirect or consequential loss or damage (including without limitation loss of business, profits or revenues), incurred in connection with this Agreement, whether arising in contract, tort (including negligence), breach of statutory duty or otherwise;
ii. we shall not be liable:
a) if you are unable to use the Payment Services as set out or for any reason stated in clauses 4 and 10;
b) for any fault or failure beyond our reasonable control relating to the use of the Payment Services, including but not limited to, a lack of Available Balance or fault in or failure of data processing Schemes;
c) for any loss, fault or failure relating to the use of a Third-Party Provider as stated in clause 6.3, 6.6 and 6.7 of this Agreement,
d) if a Merchant refuses to accept a Transaction or fails to cancel an authorisation or pre-authorisation;
e) for the goods or services that are purchased with your Card;
f) for any loss, fraud or theft that is reported more than 8 weeks following the event;
g) where you acted with:
- undue delay
- fraudulently; or
- With gross negligence. (including where losses arise due to your failure to keep us notified of your correct personal details)
To the fullest extent permitted by relevant law, and subject to clause 14.4, our total liability under or arising from this Agreement shall be limited as follows:
i. where your Card is faulty due to our default, our liability shall be limited to replacement of the Card or, at our choice, repayment to you of the Available Balance;
ii. where sums are incorrectly deducted from your Available Balance due to our fault, our liability shall be limited to payment to you of an equivalent amount; and
iii. In all other circumstances of our default, our liability will be limited to repayment of the amount of the Available Balance.
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.
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.
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.
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 justifi- cation for refusing the refund.
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.
If at any time we have incorrectly deducted money from your Available Balance, we shall refund the amount to you. If we subsequently establish that the refunded amount had been correctly deducted, we may deduct it from your Available Balance and may charge you a fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
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.
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.
In the first instance, your initial communication will be with our Customer Services Team who can be contacted by Email help@centtrip.com Our Customer Services Team will listen to your needs and will do their or by phone +44(0) 203 735 1735 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.
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 complaints@prepaidfinancialservices.com.
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.
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 Exchange Tower, Harbour Exchange Square, London E14 9SR. Details of the service offered by the Financial Ombudsman Service are available at http://www.financialom-budsman.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
You must provide us with all receipts and information that are relevant to your claim.
We are the data controller for your personal data and we 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.
We may check your personal data with other organisations and obtain further information about you in order to verify your identity and comply with applicable money laundering and governmental regulations. A record of our enquiries will be left on your file. In accordance with applicable legislation, we may provide personal data supplied by you, to certain named third parties (including data processors) for the purpose of performing our obligations and exercising our rights under this Agreement, including third parties located outside the European Union where different data protection standards may apply. We may also disclose your personal data as required by law or any competent authority.
By agreeing to these terms and conditions, you acknowledge and agree to our processing of your personal data in this way.
You also agree to our Privacy Policy and acknowledge and agree to the provisions thereof (as amended from time to time).
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.
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 at help@centtrip.com; or by phone +44(0) 203 735 1735.
We may update or amend these terms and conditions (including our Fees & Limits Schedule). Notice of any changes will be given on our website, or by e-mail notification, or by SMS 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 clause (see clause 10).
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.
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.
Any waiver or concession we may allow you, will not affect our strict rights and your obligations under this Agreement.
You agree that you 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.
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.
All your funds are segregated from our funds, so your funds are safeguarded by law. In the event that we became insolvent your e-money funds are protected against claims made by any of our creditors.
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.
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.
View our fees and limits in full
Last Modified: May 2018
These are the terms and conditions of the agreement between Centtrip, Prepaid Financial Services – and you, the person entering into the agreement in relation to your Global Currency Account and Centtrip Prepaid Mastercard® card.
Please read this Agreement carefully before activating your Global Currency Account. The terms of this Agreement and fees displayed on the Online System (or otherwise agreed with you) shall apply to all Clients.
Services are provided in partnership with named companies and are subject to our Terms & Conditions in accordance with all service partners. For full details of our products and services please refer to www.centtrip.com.
Centtrip Limited is authorised and regulated by the Financial Conduct Authority as an electronic money institution. Our firm reference number is 900717.
The Centtrip Prepaid Mastercard card is issued by Prepaid Financial Services Limited pursuant to a license from Mastercard International Incorporated. Prepaid Financial Services Limited is authorised and regulated by the Financial Conduct Authority as an electronic money institution (firm registration number 900036). Their registered office is Fifth Floor, Langham House, 302–308 Regent Street, London W1B 3AT.
“Account” means a single account held by CENTTRIP for the Client’s funds.
“Account Application” means CENTTRIP’s Business Account Application and other information submitted by the applicant or Client prior to the execution of any transaction on behalf of Client.
“Agreement” means these Terms and Conditions (as amended from time to time), the Account Application terms and conditions (as amended from time to time) and the particulars of any Confirmation.
“Authorised Party” means any natural person listed as an “Authorised Party” on the Account Application or subsequently added by Client.
“Balance Due” means the amount of funds sold to CENTTRIP by the Client less any Margin Amount already paid.
“Balance Due Date” means the date on which payment must be received by CENTTRIP. The Balance Due Date must be a Business Day.
“Beneficiary” means the Client or any third party payee so designated by the Client.
“Blocked Person” means any person or organisation: (i) listed in Schedule 2 of the Terrorism Act 2000 (as amended), (ii) listed on the HM Treasury’s Consolidated List of Financial Sanctions Targets, (iii) owned or controlled by, or acting for or on behalf of, any person listed in Schedule 2 of the Terrorism Act 2000 or HM Treasury’s Consolidated List of Financial Sanctions Targets, (iv) with which CENTTRIP is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (v) with whom CENTTRIP believes it is prohibited from conducting transactions by virtue of any government-issued sanctions presently in force or created at a future date, or (vi) that commits, threatens or conspires to commit or supports “terrorism” as defined in the Terrorism Act 2000, or (vii) listed on local European member state government restricted persons list.
“Business Day” means a day on which banks are open for general banking business in all jurisdictions involved in the Trade or payment transaction, including in the case of a Trade both countries of the currencies involved in the Trade.
“CENTTRIP” means Centtrip Limited (registered number 08651138) whose registered office is at 1 Mark Square, London, EC2A 4EG.
“Client” means the person named in the Account Application that is entering into this Agreement with CENTTRIP.
“Confirmation” means a) the Trade Confirmation sent by CENTTRIP to the Client setting out details of the Trade, or b) the payment confirmation sent by CENTTRIP to Client setting out the details of the payment instruction.
“Delivery Date” means the date on which funds will be remitted by CENTTRIP upon receipt of the Client’s payment instruction, provided the Client has fully paid for the purchased funds, associated fees and complied with this Agreement. The Delivery Date must be a Business Day.
“E-money” is electronic monetary value, which is the digital equivalent of cash and is issued by an e-money institution and stored on or allocated to an electronic device issued and usable for payments. The Client’s Centtrip Global Currency Account is made up of one or more e-money currency wallets reflecting the balance of e-money issued. E-money can be transferred between the Client’s Global Currency Account and Centtrip prepaid Mastercard(s) via the Online System.
“Facility” means any trading lines, settlement line or foreign currency exposure limit that CENTTRIP has granted to Client.
“Fee” means price payable by the Client for the Services.
“Foreign Currency” means any currency offered by Centtrip to its Clients other than Pound Sterling.
“Forward contract” means a contract relating to a currency that is a means of payment that: (i) must be settled physically otherwise than by reason of a default or other termination event; (ii) is entered into by at least a person which is not a financial counterparty within the meaning of Article 2(8) of Regulation (EU) No. 648/2012 of the European Parliament and of the Council; (iii) is entered into in order to facilitate payment for identifiable goods, services or direct investment; and (iv) is not traded on a trading venue (as defined in Directive 2014/65/ EU of the European Parliament and of the Council).
“Insolvent” means insolvent or otherwise unable to pay its debts as they become due, or upon the filing of any proceeding (whether voluntary or involuntary) for bankruptcy, insolvency or relief from creditors.
“Interest Rate” means two percent (2%) above the London Interbank Offered Rate from time to time. The daily Interest Rate shall be the Interest Rate divided by three hundred and sixty-five.
“Loss(es)” mean any and all market losses associated with movements in the foreign exchange rates, damages, costs, liabilities, losses, claims, judgments, penalties, fines, expenses (including reasonable legal and accountants’ fees and expenses), costs of investigation, amounts paid in settlement, court costs and other expenses of litigation.
“Margin Amount” means security, expressed as a percentage of the funds sold to CENTTRIP or an absolute value. Margin Amount may be required by CENTTRIP as a condition of the Trade. Subject to Force Majeure, Margin Amounts are non-refundable until maturity of the Trade.
“Online System” means any electronic system or interface provided by CENTTRIP to its Clients for the purpose of placing Trades, making payments and payment and account management. CENTTRIP may revise the Online System at any time or change its domain, without prior notice and without Client’s consent.
“Trade” means an order placed with CENTTRIP via telephone, facsimile, electronic mail, or Online, or any other mutually agreeable means by which trades are communicated between the Client and CENTTRIP.
“Parties” mean Client and CENTTRIP.
“Services” means CENTTRIP’s provision of various foreign exchange and related services, including without limitation buying and selling of foreign currencies and making or receiving of cross-border payments, purchase and sale of wires and bank drafts in foreign currency.
“User” means any Authorised Party authorised by Client to use the Online Service. “unique identifier information” has the meaning given in Clause 5.16.
By placing a Trade with CENTTRIP, Client agrees to the terms and conditions set forth in this Agreement and reaffirms Client’s representations in Clause 8 below and the accuracy of the information in the Client’s Account Application. Upon receipt of a Trade submitted in accordance with CENTTRIP’s Trade process, CENTTRIP will issue a Confirmation to the Client confirming the Trade as stated in the Confirmation. The Client will also be able to view details of the trade within the Online System. The Client acknowledges that the Client is solely responsible for the accuracy of the Trade and agrees to keep copies of any Trades transmitted to CENTTRIP. The Client assumes all risk that the Trade is altered during its transmission, and agrees to carefully review the Confirmation. Subject to this Agreement, CENTTRIP is under no obligation to provide any Service unless a Confirmation has been delivered to the Client.
The Client agrees to promptly notify CENTTRIP if the Client does not receive a Confirmation for its Trade or a payment instruction. The Client agrees that in order to perform transactions for the Client, CENTTRIP must assume that the Client’s instructions are those that appear on the Confirmation and therefore the Client will meet its related financial obligations unless CENTTRIP is informed by the Client of the error or discrepancy prior to the execution of the Trade Order or release of payment according to payment instruction.
Once a Trade has been placed with CENTTRIP, a Trade may not be cancelled by the Client without written approval from CENTTRIP, whether such Trade was placed via telephone, facsimile, electronic mail, the Online System or otherwise.
CENTTRIP may reject, suspend, disregard or cancel a Trade, or refuse to issue a Confirmation for a Trade, if CENTTRIP believes, in its sole discretion, that:
the Trade is unclear;
the Trade requires any action by CENTTRIP on a non-Business Day;
the Trade was not authorised by an Authorised Party;
CENTTRIP services have been used for speculative purposes or FX arbitrage;
consummation of the Trade would require CENTTRIP to exceed the Facility granted to Client;
the Client is in default of this Agreement;
performance of the Services would be unlawful or contravene the requirements of any government
or regulatory authority; or - the Client is Insolvent.
The Client agrees to indemnify, defend and hold harmless CENTTRIP from any Losses incurred by CENTTRIP in connection with any Trade(s) that are defective for any of the foregoing reasons.
The Client shall pay all amounts due to CENTTRIP on the Balance Due Date. CENTTRIP may refuse to deliver any funds to Beneficiary unless and until full payment, in the form of good cleared funds from the Client has been received by CENTTRIP. Delivery of the funds purchased from CENTTRIP will be made by CENTTRIP upon the receipt of payment of the Balance Due and the Client hereby accepts CENTTRIP’s standing authority to deliver funds upon receipt of such payment. Failure by the Client to make final payment in full by the Delivery Date will result in Client’s liability as set forth in Clause 3.2, including without limitation interest on the Balance Due, calculated at the Interest Rate. CENTTRIP reserves the right to deduct said interest from the purchased funds and any funds in the Client’s Account.
If the Client fails to make payment for the transaction when required, CENTTRIP may cancel the Trade or proceed with the transaction and take any and all steps necessary to recover the balance due. The Client indemnifies and holds CENTTRIP harmless from any and all Losses incurred by CENTTRIP as a result of the Client’s failure to pay the amount due, with daily interest accruing at the Interest Rate on all unpaid amounts. CENTTRIP reserves the right to claim interest under the Late Payment of Commercial Debts (Interest) Act 1998.
CENTTRIP may satisfy or partially offset any liability that may arise against any collateral CENTTRIP holds for the Client, or any obligation CENTTRIP has to the Client, without prior notice to the Client. In the event such collateral is insufficient, the Client will remain liable to CENTTRIP and will promptly pay on demand the amount of any Losses suffered by CENTTRIP or its affiliates.
Provided that the Client has fully paid for the funds purchased from CENTTRIP and complied with this Agreement, CENTTRIP will hold those funds until CENTTRIP’s receipt of payment instruction from the Client in accordance with Clause 5.15.
The Client hereby authorises CENTTRIP to enter into Forward Contracts based on Trades from the Client in accordance with the terms and conditions of this Agreement. The Client acknowledges and agrees that CENTTRIP may require the Client to provide it with information relating to a proposed Trade in a Forward Contract so as to verify the purpose of the Trade, in particular to ensure that the purpose of the Client in respect of such Trade falls within the definition of “Forward Contract” as specified herein. The Client agrees that CENTTRIP may in its sole discretion determine that a proposed Trade does not fall within the definition of a “Forward Contract” and in such case CENTTRIP shall not accept such proposed Trade. If a proposed Trade in a Forward Contract is accepted, CENTTRIP will provide the Client a Confirmation stating the details of the particular transaction. The Client acknowledges that each Forward Contract is governed by and subject to the terms and conditions of this Agreement and, upon acceptance by CENTTRIP orally, online, or in writing, that each constitutes a binding contract. Forward Contracts may not be cancelled by the Client once the Trade is placed with CENTTRIP.
When entering into a Forward Contract, CENTTRIP, in its sole discretion, may require the Client to pay to CENTTRIP an Initial Margin Amount as collateral. Should the Client fail to pay such Initial Margin Amounts within twenty-four (24) hours of the Trade Date, CENTTRIP may cancel the Forward Contract with immediate effect. In such event the Client shall be liable to CENTTRIP for any and all Losses, and agrees to pay for such Losses within 24 hours, including market losses and expenses incurred in connection with the cancellation. CENTTRIP, however, shall have no obligation or liability to the Client.
From time to time during the term of the Forward Contract, CENTTRIP, in its sole discretion, may require the Client to pay to CENTTRIP certain Margin Amounts to maintain the relative value of the funds purchased from CENTTRIP. Should the Client fail to pay such additional Margin Amounts within twenty-four (24) hours of CENTTRIP’s demand (or as otherwise specified by CENTTRIP), CENTTRIP may cancel the Forward Contract with immediate effect or complete the transaction. In such event the Client shall be liable to CENTTRIP for any and all Losses, and agrees to pay for such Losses within 24 hours, including market losses and expenses incurred in connection with the cancellation. CENTTRIP, however, shall have no obligation or liability to the Client, and CENTTRIP’s sole liability to the Client is the return of any balance remaining of the Margin Amount paid by the Client after deducting any Losses suffered by CENTTRIP sustained in connection with the Client’s default.
The Client acknowledges that the foreign currency market is volatile. Client expressly accepts the risk that if the currency of the purchased funds changes in value during the period covered by the Forward Contract, the value of the amount of currency which the Client agreed to sell to CENTTRIP may be less favorable than the current price for the purchased currency. The Client is aware that Forward Contracts purchased hereunder are not “specified investments” within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (as amended) or any other legislation governing the regulation of financial activities in the UK and are therefore not regulated instruments under the UK’s financial regulatory regime.
In order to use the Online System, the Client will be required to create an electronic account and agrees to provide CENTTRIP with a written list of those Authorised Parties that Client would like to access and use the Online System on Client’s behalf. Upon CENTTRIP’s approval of such Users, CENTTRIP grants such users a non-exclusive, non-transferable license to use the Online System for the sole purpose of accessing the Services. Users may have full or limited access to the Online System, in CENTTRIP’s sole discretion. If Client desires for CENTTRIP to terminate one of its User’s access to the Online System, Client agrees to issue such request in writing, to be confirmed by CENTTRIP in writing. Without limiting this Section 5, until such time as CENTTRIP confirms such User’s access has been terminated, such User may remain authorised and Client will remain responsible for any transactions placed and other activity by such User. Any request to terminate a users’ access to the Online System received during a Business Day before 5pm will be actioned by Centtrip on the same Business day. Any request received after this time will be processed on the next Business Day.
It is the sole responsibility of the Client and the User to safeguard the security of the User’s password, and, periodically change User’s password thereafter to ensure security.
The Client agrees that its Users will not use the account of another person without permission and will provide accurate and complete information to CENTTRIP in all circumstances. The Client and the User expressly acknowledge and agree that such use of the Online System must be in accordance with this Agreement and any additional user agreement or manual provided by CENTTRIP, including maintaining any minimum operating and Internet browser requirements. CENTTRIP may suspend, limit or terminate a User’s access or Client’s access to the Online System, without notice for any reason set forth in Clause 7.
The Client and User are solely responsible for any and all activity on Client’s Account (save as set out in this Clause 5), and each agrees to notify CENTTRIP immediately upon becoming aware of any unauthorised use of Client’s Account.
CENTTRIP will have no responsibility other than as set out in this Clause 5 for any Losses incurred by the Client by reason of the use of Client’s Account, and Client agrees to hold CENTTRIP harmless from any expenses or Losses CENTTRIP may incur by reason of the use of Client’s Account (in each case, whether such use is authorised or unauthorised). The Client agrees that its Users, employees, agents or affiliates will:
5.5.1 not attempt to collect or harvest any personally identifiable information, including account names of other clients;
5.5.2 only use the Online System for the purpose set out in Clause 5.1 (and not for any commercial purpose); and
5.5.3 not use the Online System in any way that may damage, disable, overburden, or impair CENTTRIP’s servers or networks or interfere with any other client’s use and enjoyment of the Online System.
The Client will not try to gain unauthorised access to any services, user accounts, computer systems or networks, through hacking, password mining or any other means.
The Client acknowledges that the Online System may include certain communications from CENTTRIP or its partners, such as service announcements and administrative messages, and that these communications are considered part of the online service and Client may not be able to opt-out of receiving them. Unless explicitly stated otherwise, any new features that augment or enhance the current Service, including any new Service, shall be subject to this Agreement.
The Online System, the content therein, and all intellectual property pertaining thereto and contained therein (including but not limited to copyrights, patents, trademarks and service marks) are owned by CENTTRIP or licensed through third parties, and all rights, title, and interest therein and thereto shall remain the property of CENTTRIP or of such third parties.
The Online System (and all other related services) is provided “as is” with no representations or warranties of any kind, either express or implied. CENTTRIP shall have no responsibility for transmission errors, faulty or unreliable Internet connections or website downtime outside of CENTTRIP’s control. All Limitation on Liability and Indemnity terms set forth in Clause 11 shall apply fully to the Client or User’s use of the Online System, as well as any other means of accessing such Services.
CENTTRIP may stop, suspend or restrict the Client’s or a User’s access to the Services using the Online System if CENTTRIP reasonably considers it necessary:
5.10.1 for security reasons;
5.10.2 because CENTTRIP suspects that someone is using the Online System without the Client’s permission or fraudulently; or
5.10.3 because there is a significantly increased risk that the Client may be unable to fulfil its liability to repay any sums it owes CENTTRIP.
CENTTRIP will always try to inform the Client by telephone before CENTTRIP stops, suspends or restricts the Client’s or a User’s ability to access the Services using the Online System and its reasons for doing so. Where CENTTRIP is not able to inform the Client before, CENTTRIP will inform the Client immediately afterwards. CENTTRIP will not inform the Client under this Clause where it would be unlawful to do so, or if informing the Client would compromise CENTTRIP’s reasonable security measures.
CENTTRIP will lift any stop, suspension or restriction on the Client’s or a User’s access to the Services using the Online System as soon as is practicable after the reasons for the stop, suspension or restriction no longer exist. The Client can call CENTTRIP on +44(0) 203 735 1735 to ask CENTTRIP to lift any stop, suspension or restriction.
The Client must ensure that its Users take all reasonable steps to keep safe their password and/or security information for the Online System. This includes Users:
5.13.1 not telling any other person their password and/or security information;
5.13.2 not choosing obvious passwords and/or security information;
5.13.3 not writing down their password and/or security information in a way that could be easily recognised by someone else.
The Client must notify CENTTRIP by telephone or in writing without undue delay on becoming aware of the loss or theft of a User’s password and/or security information for the Online System, or the unauthorised use of the Online System.
The Client can instruct CENTTRIP to make a payment to a Beneficiary using the Online System by inputting the payment details and clicking ‘confirm’ when prompted. CENTTRIP will treat this as the Client consenting to CENTTRIP processing the payment in accordance with the terms of this Agreement. The Client cannot withdraw or amend a payment instruction once it has been submitted.
The Client must provide:
5.16.1 in respect of payments to an account in the United Kingdom, the Beneficiary’s account number and sort code;
5.16.2 in respect of international payments, the Beneficiary’s International Bank Account Number and Bank Identifier Code and/or such other information as CENTTRIP may advise on the Online System, and CENTTRIP will use this information to process the Client’s payment instruction. CENTTRIP refers to this information as the “unique identifier information” and the Client agrees to check it carefully before submitting it to CENTTRIP.
CENTTRIP will begin processing the payment when it receives the Client’s payment instruction save that if CENTTRIP receives the Client’s payment instruction:
5.17.1 after 12pm UK time on a Business Day; or
5.17.2 on a day that it not a Business Day in the United Kingdom, the Client’s instructions will be treated as being received by CENTTRIP on the next Business Day.
CENTTRIP may refuse to process, or delay the processing of, a payment where CENTTRIP’s banking or other payment provider partner(s) refuse to process, or the delay the processing of, the payment. This may be for reasons relating to sanctions, anti-money laundering and/or other regulatory issues. CENTTRIP may need to ask the Client for additional information before CENTTRIP’s banking or other payment provider partner(s) will process the payment. CENTTRIP will not be liable to the Client for any Losses it suffers arising out of or in connection with such refusal to process, or delay in processing, the payment.
Payments into the Client’s Account can be made by electronic transfer or e-money wallet to wallet transfer only. CENTTRIP segregates all funds that are received from the Client in exchange for e-money and, where required by law, will deposit such funds into a separate ring-fenced account with another institution. The purpose of this is to protect the Client’s funds from claims made by other creditors if, for example, CENTTRIP becomes insolvent. The Financial Services Compensation Scheme is not applicable for this product.
Once the Client approves a Trade, either by clicking “Yes” or otherwise, the Client shall be responsible for such Trade. The exchange rate visible on the computer screen at the time the Client places the Trade will be the exchange rate applicable to the Client’s Trade. Once placed, a Trade may not be cancelled by the Client without written approval from CENTTRIP.
The Client must notify CENTTRIP by telephone or in writing without undue delay (and in any event no later than 13 months after the date the amount is debited from the Account) on becoming aware of an unauthorised payment or a payment that has been incorrectly executed by CENTTRIP.
If the Client notifies CENTTRIP that a payment from its Account was not authorised in the manner set out in Clause 5.15 CENTTRIP will, subject to Clause 5.22:
5.21.1 refund the amount of the unauthorised payment to the Client as soon as practicable (and in any event no later than the end of the Business Day following the day on which the Client notifies CENTTRIP of the unauthorised payment); and
5.21.2 where applicable, restore the Account to the state it would have been in had the unauthorised payment not taken place.
CENTTRIP will not provide a refund pursuant to Clause 5.21.1 where it has reasonable grounds to suspect that the Client has been engaged in fraudulent behaviour.
The Client’s maximum liability for any losses it incurs in respect of unauthorised payments arising from the Client’s or a User’s password and/or security information for the Online System being lost or stolen is £35, except where:
5.23.1 the loss or theft of the Client’s or User’s password and/or security information for the Online System was not detectable by the Client prior to the payment;
5.23.2 the loss was caused by the acts or omissions of an employee, agent or branch of CENTTRIP, in which case, the Client shall not have any liability in respect of such unauthorised payments (unless it has acted fraudulently).
CENTTRIP will not provide the Client with a refund in respect of unauthorised payments arising from the Client’s or a User’s password and/or security information for the Online System being lost or stolen where the Client or a User has acted fraudulently or has with intent or gross negligence failed to comply with Clause 5.13 or 5.14.
The Client will not be liable for any losses it incurs in respect of unauthorised payments arising from the Client’s or a User’s password and/or security information for the Online System being lost or stolen:
5.25.1 which arise after the Client has notified CENTTRIP in accordance with Clause 5.14;
5.25.2 where CENTTRIP has failed to provide the Client with the means to notify CENTTRIP in accordance with Clause 5.14;
5.25.3 where CENTTRIP fails to require strong customer authentication where it is legally required to do so.
Where the Client instructs CENTTRIP to make a payment and CENTTRIP fails to do so or makes it incorrectly, CENTTRIP will, without undue delay, refund to the Client the amount of the payment (if the payment has been debited from the Client’s Account) and restore the Account to the state it would have been in so that it is as if the payment had not taken place, except where:
5.26.1 the Client has provided CENTTRIP with the wrong unique identifier information for the Beneficiary; or
5.26.2 CENTTRIP can show that the funds were received by the Beneficiary’s bank.
Where CENTTRIP fails to credit funds that it receives for the Client to the Client’s Account, CENTTRIP will immediately make available the relevant amount to the Client and, where applicable, credit the corresponding amount to the Client’s Account (so that it is as if the Client received the funds when it should have done).
Where a payment the Client has instructed CENTTRIP to make has been made incorrectly, CENTTRIP will, if the Client asks CENTTRIP to, immediately, and without charge to the Client, make efforts to trace the incorrectly made payment and notify the Client of the outcome.
Where CENTTRIP makes a payment transaction using the unique identifier information that the Client provides for the Beneficiary, and the unique identifier information is incorrect, CENTTRIP will not have any liability for the payment not being made or being made incorrectly. CENTTRIP will however make reasonable efforts to recover the funds involved in the payment. If CENTTRIP is unable to recover the funds, it will, on receiving a written request from the Client, provide the Client with all of the available relevant information CENTTRIP has so the Client can file a legal claim for repayment of the funds (except where it would be unlawful for CENTTRIP to provide this information).
Where funds are paid into the Client’s Account by mistake, CENTTRIP can take them back and return them to the payer. The Client agrees to notify CENTTRIP if it receives any funds into its Account by mistake. If CENTTRIP is unable to recover the funds from the Client, CENTTRIP may be required to provide the payer with all relevant information to assist them in collecting the funds from the Client (and such information may include the Client’s personal information).
CENTTRIP will contact the Client by telephone or by sending a message on the Online System if there are suspected or actual fraud or security threats related to the Client’s Account.
CENTTRIP and the Client may from time to time agree spending limits that apply to payments instructed by the Client using the Online System.
The Client can view information about its Account (including payment information) using the Online System. The Client can download such information in PDF format from the Online System at any time. CENTTRIP will not send the Client a paper statement unless the Client requests one from the CENTTRIP customer service team.
In the event that CENTTRIP is unable to deliver, or is delayed in delivering, purchased funds due to circumstances beyond CENTTRIP’s control, including but not limited to government acts, wars, strikes, riots, other civil disturbances, legal process, electronic failure or mechanical failure, the Client agrees that CENTTRIP shall have no liability for direct, indirect, special, incidental or consequential damages, including, but not limited to, loss of profits or expenses, arising in connection with any transaction entered into with the Client pursuant to this Agreement, any Contract or any Confirmation.
This Agreement will commence on the date that CENTTRIP advises when CENTTRIP confirms to the Client that the Client’s Account Application has been accepted (which shall be at CENTTRIP’s sole discretion) and shall continue in force until terminated by either CENTTRIP or the Client in accordance with these terms and conditions.
The Client may end this Agreement at any time on providing CENTTRIP with not less than one (1) month’s written notice.
CENTTRIP may end this Agreement at any time on providing the Client with not less than two (2) months’ written notice.
CENTRIP may end this Agreement immediately at any time without notice if:
a) the Client is Insolvent;
b) an applicable regulatory or law enforcement authority initiates a regulatory or enforcement action or investigation against the Client which, in the reasonable judgment of CENTTRIP will materially impair the terms of the Agreement, the expected economic value of this Agreement, or the business reputation of CENTTRIP;
c) the Client breaches this Agreement or any terms of a Trade; or
d) the transactions originating under this Agreement are deemed by CENTTRIP, in CENTTRIP’s sole discretion, to represent a regulatory compliance or business risk.
Where the Agreement is terminated, all amounts owed by the Client to CENTTRIP shall become immediately due and payable. Termination of the Agreement shall be without prejudice to any rights, obligations, claims and liabilities which have accrued prior to the date on which the Agreement terminates.
The Client represents and warrants that:
a) the Client has the authority to enter into the Agreement;
b) all information on the Account Application is true and complete, and Client will promptly advise CENTTRIP of any changes to such information.
c) the Client will have legal title to all funds used in connection with Trades entered into hereunder;
d) the Client will fully comply with all applicable laws and regulations;
e) the Client has all requisite authorizations and approvals to make any payments for the Services.
The Client represents and covenants, that the Client:
a) is familiar with all applicable laws, regulations, orders, etc. in effect from time to time relating to anti-money laundering and counter terrorism (“Anti-Money Laundering and Terrorism Laws”) of the United Kingdom, including the Terrorism Act 2000, the Proceeds of Crime Act 2002, the Serious Organized Crime and Police Act 2005 and the Money Laundering Regulations 2017;
b) acknowledges that the Client’s transactions are subject to applicable Anti-Money Laundering and Terrorism Laws, and that CENTTRIP may provide information to governmental authorities to assist in such regard;
c) will comply in all material respects with all applicable Anti-Money Laundering and Terrorism Laws;
d) acknowledges that CENTTRIP’s performance hereunder may also be subject to compliance with all applicable Anti-Money Laundering and Terrorism Laws;
e) will not conduct business with any Blocked Person, and none of its shareholders or Authorised Parties are Blocked Persons;
f) will take such other action as CENTTRIP may reasonably request in connection herewith.
CENTTRIP does not disclose nonpublic personal information about its Clients or former Clients, but may disclose such information in certain limited circumstances such as the following:
a) where it is necessary to effect, administer, or enforce a transaction requested or authorised by the Client, or in connection with servicing or processing a financial product or service requested or authorised by the Client,
b) where such sharing is reasonably necessary to protect the confidentiality or security of Client records, the services or products CENTTRIP offers, or transactions CENTTRIP processes or handles,
c) to protect against or prevent actual or potential fraud, identity theft, unauthorised transactions, claims or other liability, as well as for resolving Client disputes or inquiries or checking credit,
d) to comply with federal, state or local laws or regulations or other legal requirements, such as subpoenas or other legal process. The preceding list sets forth examples only and is not meant to be comprehensive. CENTTRIP also restricts access to Clients’ non-public personal information to those employees and agents who need to know that information to provide products or services to the Client or fulfil certain obligations described above. CENTTRIP also maintains physical, electronic and procedural safeguards to guard Clients’ non-public personal information.
CENTTRIP is a separate and independent controller of personal data that it processes for the purposes of performing its obligations in this Agreement. CENTTRIP and the Client will comply with their respective obligations under applicable data protection law. Before providing CENTTRIP with any personal data about any individual in connection with this Agreement the Client will draw the individual’s attention to CENTTRIP’s privacy policy which is available at https://www.centtrip.com/privacy (the “Privacy Policy”)
CENTTRIP shall not be liable (whether in contract, tort (including negligence), under statute or otherwise) to the Client for:
- loss of profits; or
- loss of business; or
- depletion of goodwill and/or similar losses; or
- loss of anticipated savings; or
- loss of goods; or
- loss of contract; or
- loss of use; or
- loss of corruption of data or information; or
- any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses, incurred by the Client as a result of this Agreement.
Nothing in this Agreement shall exclude or limit one party’s liability to the other for:
11.2.1 personal injury or death caused by its negligence;
11.2.2 its fraud or fraudulent misrepresentation; or
11.2.3 any matter for which it is not permitted by law to exclude or limit its liability.
All warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from the Contract.
If the Client’s performance of its obligations under the Agreement is prevented or delayed by any act or omission of the Client, its agents, subcontractors, consultants or employees, CENTTRIP shall not be liable for any costs, charges or losses sustained or incurred by the Client arising directly or indirectly from such prevention or delay.
CENTRIP may change the Agreement at any time. CENTTRIP will provide the Client with not less than two (2) months’ advance notice of any such changes (except in the case of changes to exchange rates). Where CENTTRIP provides the Client with notice of a change in accordance with this Clause, the Client may terminate the Agreement at any time on providing written notice to CENTTRIP. If the Client does not terminate the Agreement before the change comes into effect, the Client will be deemed to have accepted the change.
A person who is not a party to this Agreement shall not have any rights under or in connection with it by virtue of the Contracts (Rights of Third Parties) Act 1999.
CENTTRIP’s failure to exercise any of its rights under this Agreement shall not be deemed a waiver of such rights or remedies at a later time.
If either party brings an action or proceeding to enforce the terms of this Agreement or declare rights under this Agreement, the prevailing party in any such action, proceeding, trial or appeal will be entitled to its reasonable attorneys’ fees to be paid by the losing party as fixed by the court.
This Agreement may be executed in one or more counterparts, each of which will constitute an original, but which will together constitute one agreement.
If any provision hereof shall be held to be unenforceable, illegal, unlawful or void by a court or body or authority of competent jurisdiction, such provision will be deemed to be severed from this Agreement and the remainder of the provisions hereof shall remain in full force and effect and shall be binding upon the Parties.
The original language of this Agreement is English and all notices or other communications given or required under it will be in English. CENTTRIP will provide a copy of this Agreement to the Client at any time during the term of the Agreement on request.
CENTTRIP will contact the Client by telephone, in writing or by sending a message on the Online System using the contact details provided by the Client in its Account Application.
The Client can contact CENTTRIP using the details set out below:
Address Centtrip Limited, 1 Mark Square, London, EC2A 4EG
Telephone +44(0) 203 735 1735
Email
info@centtrip.com
The Client should contact its CENTTRIP account executive if it has a complaint concerning its Account or otherwise in relation to the Agreement. CENTTRIP will deal with all such complaints in accordance with its complaints handling procedure, which the Client may request a copy of from CENTTRIP at any time.
If CENTTRIP fails to resolve the Client’s complaint to the Client’s satisfaction, the Client may (if eligible) be able to refer it to the Financial Ombudsman Service free of charge. The contact details of the Financial Ombudsman Service are:
Address The Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square,
London E14 9SR
Telephone 0800 023 4567
Details of the service offered by the Financial Ombudsman Service are available at www.financial-ombudsman.org.uk.
The Client may be able to submit a claim through the European Online Dispute Resolution Platform (available at: https://ec.europa.eu/consumers/odr/) if they live outside the United Kingdom or if they prefer not to deal directly with the Financial Ombudsman Service.
This Agreement, and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims), shall be governed by, and construed in accordance with, the law of England and Wales.
The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of, or in connection with, the Agreement or its subject matter or formation (including non-contractual disputes or claims).
The Client shall not assign this Agreement nor any rights or obligations hereunder without CENTTRIP’s written consent. If CENTTRIP provides its written consent to any assignment of this Agreement, the Agreement shall be binding upon the successors, heirs, and assigns of the Parties.
For record-keeping, fraud- detection or training purposes, CENTTRIP may record telephone calls to or from CENTTRIP and/or CENTTRIP’s representatives with respect to the transactions contemplated herein. CENTTRIP shall not be required to provide copies or tapes of Trades to Clients. If permitted by law, said recordings may be used as evidence for any legal purpose.
This Agreement constitutes the entire agreement between Client and CENTTRIP with respect to the subject matter hereof and supersedes all previous negotiations, commitments and writings.
The Fees payable by, and limits applicable to, the Client are available in the Fee Schedule section of the Online System. For fees relating to card usage please refer here.
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 Customer entering into the agreement (“this Agreement”). Please read this Agreement carefully before activating or using your card or 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.
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 at times to a Card which is maintained for the sole purpose of enabling Transactions;
“Account Information Service Providers” (AISP) 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;
“Additional Prepaid Cardholder” where applicable a person who holds a Secondary Card;
“Anonymous Prepaid Card” a prepaid non-personalised card that can be used subject to specified Card limits on loading, transactions and redemption;
“Authorised” act of authorising a Transaction 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;
“ATM” An automated teller machine is an electronic telecommunications device that enables Customers to perform financial transactions, particularly cash withdrawal, without the need for a human cashier, clerk or bank teller. Most ATMs identify the Customer by the Customer inserting the Card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and security information such as an expiration date or CVC2 or CVV. Authentication is provided by the customer entering a personal identification number (PIN).
“Available Balance” the value of unspent funds loaded onto your Account and available to use;
“BIX code(s)” Bank Identifier Code means a standard format code managed by SWIFT now called Business Identifier Codes (BIC) which is used to uniquely identify banks and financial institutions globally - it who and where they are. This code is used when transferring money between banks, in particular for international wire transfers or SEPA payments.
“Business Day” Monday to Friday, 0900hrs to 1700hrs GMT, excluding bank and public holidays in the United Kingdom.
“Card” a physical device bearing electronically stored monetary value as represented by a claim against Prepaid Financial Services; and/or a physical or digital mechanism providing access to an Account which is issued by Prepaid Financial Services for the purpose of enabling Transactions
“Customer” the person who has applied successfully for a Payment Service and who has been issued at least one Card by us for Card payments or IBAN account details. The Customer is the legally and financially responsible person to whom we provide the Payment Services;
“SEPA Transfer Payment (STP)” A facility available for UK registered Accounts only whereby an instruction from Customer is sent to Prepaid Financial Services, authorising an organisation you wish to pay, to collect varying amounts from your account at periodic intervals.
“EEA” The European Economic Area provides for the free movement of persons, goods, services and capital within the internal market of the European Union (EU) between its 28-member states, as well as three of the four-member states of the European Free Trade Association (EFTA): Iceland, Liechtenstein and Norway.
“Customer Due Dilligence” level of the Know your Customer requirements where we must collect proof of identification and proof of residence of cardholders.
“E-money” Electronic money is monetary value, the digital equivalent of cash, issued by an e-money institution and stored on or allocated to an electronic device issued and usable for payments.
“E-Wallet” A payment account issued by Prepaid Financial Services in favour of certain Customers, mostly corporate, permitting the receipt of funds for the loading of Cards and manage Card program related expenses.
“Fee” the price paid by you for the Payment Services
“IBAN” An IBAN, or International Bank Account Number is part of a new international standard that has been adopted as part of the SEPA (Single Euro Payments Area) agreement. IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors. It has been implemented by most European countries and many countries in the other parts of the world,
“Know Your Business” Know Your Business due diligence checks on corporate entities, their directors and beneficial owners as per Anti-Money Laundering regulatory requirements
“Know Your Customer” personal due diligence checks as per Anti-Money Laundering regulatory requirements
“Limited Period” where applicable means the period of 6 years following termination of this Agreement;
“Merchant” a retailer or any other person that accepts e-money by virtue of a Merchant account with an acquirer or a payment services provider.
“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.
“Payment Initiation Service Provider” (“PISP”) is a party which initiates a payment order requested by you, in relation to your account held at a Payment Service Provider
“SEPA” the Single Euro Payments Area (SEPA) is a payment integration initiative of the European Union to help simplify the process of bank transfers
“Simplified Due Dilligence” a means of self-certification for the registration of personal details associated with a Card or Account [SDD]. SDD Cards are subject to lower annual load and ATM limits
“SWIFT” The Society for Worldwide Interbank Financial Telecommunication provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardised and reliable environment
“Secondary Prepaid Mastercard Card” where applicable any secondary card which is issued to an additional person any time after the successful registration of a Primary card or Account;
“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 or by phone
“Virtual Account” a prepaid Virtual Account issued by us enabling you to make Card-not-present (CNP) transactions after sufficient funding of the Virtual Account.
“we”, “us” or “our” Prepaid Financial Services Limited as the e-money issuer and regulated entity;
“you” or “your” The Customer and/or any person or third-party provider authorised by you, for use in accordance with these Terms and Conditions
Your Card or Account can be managed online at www.centtrip.com, via email to help@centtrip.com; or by phone on +44(0) 203 735 1735. To report your Cards lost or stolen please call +44 (0) 207127 8130 or email help@centtrip.com. At any time during the contractual relationship you shall have the right to receive, on request, these terms and conditions free of charge.
The issuer for the Centtrip Prepaid Mastercard Card and provider of the Payment Services is Prepaid Financial Services Limited (PFS). PFS is registered in England and Wales under Company Registration Number is 6337638. Registered Office: 5th Floor, Langham House, 302-308 Regent Street, London, W1B 3AT.
PFS is authorised and regulated as an e-money issuer by the Financial Conduct Authority registration number 900036.Details of the PFS authorisation licence by the Financial Conduct Authority is available on the public register at https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000m4IX9AAM
Prepaid Financial Services Limited acts as the programme issuer.
Centtrip Limited (Centtrip) is the programme manager. Centtrip is registered in England and Wales under Company Registration Number 08651138. Registered Office: 1 Mark Square, London EC2A 4EG.Centtrip is authorised and regulated as an electronic money institution by the Financial Conduct Authority (FCA). Firm registration number: 900717.Details of Centtrip’s authorisation is available on the FCA register at https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000003aYxEbAAK.
Prepaid Financial Services Limited is licensed as a principal member with the Mastercard Scheme. Mastercard is a registered trademark of Mastercard International Incorporated.
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 information that may affect 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.
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.
Your Payment Services may 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.
Reference to a currency (e.g. Euros € or Sterling £) shall mean that amount or the local currency equivalent in which your Card is denominated.
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
The Available Balance on your Card and/or Account will not earn any interest.
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.
This Agreement does not give you any rights against the Systems and or Schemes, its affiliates or any third party.
Only persons over 18 years of age are entitled to register for the Payment Services.
Transactions may be restricted by Card or Account 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.
Simplified Due Diligence 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.
When sending funds to your account with us, we recommend that senders use the SEPA transfer payment method to send funds to your individual account associated IBAN. If this is not an available option, you are responsible for checking all of the details and references when sending funds as we will not be responsible to do so or for any delays caused by this.
We cannot be held liable for the payment process or fees associated with bank(s) and or intermediary bank(s) to process payments from you to us. Any fee(s) charged to us, not limited to receiving, processing or crediting a payment for you will be deducted by us before crediting the remaining balance to you.
You are responsible for checking and confirming payment details and fees before making a payment to us.
PFS will credit payments received to your account at least once a day and before the end of the Business Day. Payments received after the cut off period will be processed the next Business Day and you will hold PFS free and clear from any responsibility is this regard.
E-Wallets accounts that are allocated to corporate clients are subject to KYB approval. Funds will be received and automatically credited to the E-Wallet corporate account.
PFS reserve the right to suspend the E-Wallet service for misuse.
Corporate clients will be responsible for sending PFS evidence of source of funds in order for us to meet our regulatory requirements.
Where so enabled you may change your PIN at select ATM’s subject to a Fee.
Where enabled, you may be eligible to instruct companies to create regular Direct Debits from your UK issued and registered Account. You will be responsible for ensuring that the correct details are provided in order for the STP to be created for you. You must ensure at all times that you have a sufficient balance on your account to allow for the funds to be debited from your account. You are responsible for checking the terms and conditions that have been provided to you by the STP originator. PFS and/Centtrip, reserve(s) the right to decline or terminate any STP instruction(s) that you have requested.
You may incur a charge for unpaid STPs if there are not enough funds in your account to pay an incoming STP request
You accept responsibility for cancelling any STP on your Account with the originator directly. PFS and Centtrip will not be able to do this on your behalf and cannot accept liability for any losses due to late or non-cancellation
Transactions may be restricted by Card or Account 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.
You can use the Payment Services up to the amount of the Available Balance for Transactions at Merchants of the relevant System up to the amount of the balance. 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.
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.
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:
i. for purchases and ATM transactions, at the time we receive the transaction instruction from the merchant acquirer or ATM operator, and
ii. for other transactions which are communicated directly to us, at the time you ask us to complete the transaction
Where a revocation of an authorised payment is agreed between us and you, we may charge a fee for revocation.
Within the EEA we will ensure transfer of the payment to the payment service provider of the Merchant within three Business Days. If the payment service provider of the Merchant is located outside the EEA, we will effect payment as soon as possible.
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.
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.
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.
Where applicable, you may apply to us for up to 3 Secondary Cards, for use by Additional Cardholders on your account. Additional Cardholders for whom you are legally responsible must be 13 years of age or older. All other Additional Cardholders must be 18 years of age or older. It is a condition of any registration for a Secondary Card that you, as the Customer, acknowledge that we accept no responsibility or liability of any kind whatsoever for use of any Secondary Card by any Additional Cardholder for Transactions not authorised by you. If you successfully register, we will send you a Secondary Card, for which we will charge an Additional Card Fee. Upon receipt of the Secondary Card, you may give the Secondary Card to the Additional Cardholder for their use, subject to:
i. you providing them with a copy of these terms and conditions (which will then bind use by both of you);
ii. the Secondary Card must only be used by that person;
iii. you retaining the Primary Card;
iv. you informing the Additional Cardholder that you have retained the Primary Card and that you are still able to use the Account;
v. us obtaining such further information and documentation in order to enable us to comply with all applicable KYC and anti-money laundering requirements.
You will remain responsible for the use of the Payment Services, and for any fees and charges incurred by the Additional Cardholder(s), and you will continue to be regarded as the holder of any funds already or subsequently loaded on the Account. The use of a Card in relation to which an Additional Cardholder has been registered will be regarded as confirmation that you have provided the Additional Cardholder with these Terms and Conditions.
This section6 only applies to cardholders who use third party providers, PISP or AISP, in accordance with PSD2
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.
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.
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.
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.
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.
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.
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.
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.
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.
If you use your Card at an automated fuelling station, subject to Merchant acceptance, your Card may need to be pre-authorised 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.
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.
In relation to any dispute between the you and a Merchant, provided you are able to satisfy us that you have already made all efforts to resolve the dispute with the relevant Merchant, we will attempt to assist you so far as is reasonably practicable. We may charge you a chargeback processing fee as referenced in the Fees & Limits Schedule provided to you, for any such assistance we may give you with any dispute. If there is an un-resolvable dispute with a Merchant in circumstances where the Card has been used for a Transaction, you will be liable for the Transaction and will have to resolve this directly with the relevant Merchant.
You are responsible for your Card, any Username, PIN number and Account passwords. Do not share your Card or Account security details with anyone.
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:
i. memorising your PIN as soon as you receive it, and destroying the post mail or other authorised communication used to transmit it to you;
ii. never writing your PIN on your Card or on anything you usually keep with your Card;
iii. keeping your PIN secret at all times, including by not using your PIN if anyone else is watching;
iv. not disclosing your PIN to any person.
The user of the Card(s) must sign the signature strip on any Personalised Card immediately when received.
If you forget your PIN, you can retrieve your PIN on the mobile app or online.
The Payment Services may only be used by you.
You must not give the Card to any other person or allow any other person to use the Payment Services. You must keep the Card in a safe place.
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.
If you believe that someone else knows your Account or Card security details, you should contact us immediately.
Once your Card or your Account has expired or if it is found after you have reported it as lost or stolen you must destroy your Card by cutting it in two, through the magnetic strip.
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 by you as the Account address. The Account address is also the address to which we will send any correspondence.
You 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.
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.
Cards are issued in accordance with regulatory limits and conditions. Full card limits are usage for cards can be found on our website.
If 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.
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 you any Available Balance less any fees and charges payable to us, provided that:
i. you have not acted fraudulently or with gross negligence or in such a way as to give rise to reasonable suspicion of fraud or gross negligence; and
ii. We are not required to withhold your Available Balance by law or regulation, or at the request of the police, a court or any regulatory authority.
Once the Payment Services have been cancelled, it will be your responsibility to destroy the Card(s) that were provided to you under the Payment Services.
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.
You have a right to withdraw from this Agreement under the following conditions:
where you purchased the Payment Services 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 you. 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.
After the Cooling Off period you may only cancel the Payment Services as described in clause 10 Above.
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”).
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 13.4 or unless we otherwise agree to continue providing Payment Services to you following the Expiry Date.
You may not use your expired Card after the Expiry Date.
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).
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.
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).
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.
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.
We shall have the absolute right to close your account and submit a chargeback claim if your account is in negative standing for more than 60 days. If our chargeback is successful, funds may only be used to credit your card or account and your account will remain closed.
We may terminate your use of the Payment Services with prior notice of at least 2 months.
Your use of the Payment Services will be terminated following the Expiry Date in accordance with clause 12.2
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:
i. in the event of any fault or failure in the data information processing system;
ii. if we reasonably believe that you have used or are likely to use the Payment Services, or allow them to be used, in breach of this Agreement or to commit an offence;
iii. if any Available Balance may be at risk of fraud or misuse;
iv. if we suspect that you have provided false or misleading information;
v. By order or recommendation of the police or any relevant governmental or regulatory authority.
If any Transactions are found to have been made using your Card after any action has been taken by us under clause 13.1, you must immediately repay such amounts to us.
You are responsible for protecting your funds as if they were cash.
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.
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:
i. you must contact us as soon as possible and you must provide us with your Account or Card number and either your Username and Password or some other identifying details acceptable to us so that we can be sure we are speaking to you; and
ii. Provided we have obtained your consent to close the Account, we will then provide you with a replacement Card with a corresponding new Account loaded with an amount equivalent to your last Available Balance.
You will be liable up to a maximum of the first €50/£35 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. - in which case you shall be liable for all losses.
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.
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.
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 and chip.
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.
Subject to clause 15.4;
i. neither party shall be liable to the other for indirect or consequential loss or damage (including without limitation loss of business, profits or revenues), incurred in connection with this Agreement, whether arising in contract, tort (including negligence), breach of statutory duty or otherwise;
ii. we shall not be liable:
a) if you are unable to use the Payment Services as set out or for any reason stated in clauses 4 and 10;
b) for any fault or failure beyond our reasonable control relating to the use of the Payment Services, including but not limited to, a lack of Available Balance or fault in or failure of data processing Schemes;
c) for any loss, fault or failure relating to the use of a Third-Party Provider as stated in clause 6.3, 6.6 and 6.7 of this Agreement,
d) if a Merchant refuses to accept a Transaction or fails to cancel an authorisation or pre-authorisation;
e) for the goods or services that are purchased with your Card;
f) for any loss, fraud or theft that is reported more than 8 weeks following the event;
g) where you acted with:
- undue delay
- fraudulently; or
- With gross negligence. (including where losses arise due to your failure to keep us notified of your correct personal details)
To the fullest extent permitted by relevant law, and subject to clause 14.4, our total liability under or arising from this Agreement shall be limited as follows:
i. where your Card is faulty due to our default, our liability shall be limited to replacement of the Card or, at our choice, repayment to you of the Available Balance;
ii. where sums are incorrectly deducted from your Available Balance due to our fault, our liability shall be limited to payment to you of an equivalent amount; and
iii. In all other circumstances of our default, our liability will be limited to repayment of the amount of the Available Balance.
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.
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.
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.
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.
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.
If at any time we have incorrectly deducted money from your Available Balance, we shall refund the amount to you. If we subsequently establish that the refunded amount had been correctly deducted, we may deduct it from your Available Balance and may charge you a fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
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.
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.
In the first instance, your initial communication will be with our Customer Services Team who can be contacted by Email help@centtrip.com Our Customer Services Team will listen to your needs and will do their or by phone +44(0) 203 735 1735 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.
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 complaints@prepaidfinancialservices.com.
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.
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 Exchange Tower, Harbour Exchange Square, London E14 9SR. Details of the service offered by the Financial Ombudsman Service are available at http://www.financialom-budsman.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
You must provide us with all receipts and information that are relevant to your claim.
We are the data controller for your personal data and we 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.
We may check your personal data with other organisations and obtain further information about you in order to verify your identity and comply with applicable money laundering and governmental regulations. A record of our enquiries will be left on your file. In accordance with applicable legislation, we may provide personal data supplied by you, to certain named third parties (including data processors) for the purpose of performing our obligations and exercising our rights under this Agreement, including third parties located outside the European Union where different data protection standards may apply. We may also disclose your personal data as required by law or any competent authority.
By agreeing to these terms and conditions, you acknowledge and agree to our processing of your personal data in this way.
You also agree to our Privacy Policy and acknowledge and agree to the provisions thereof (as amended from time to time).
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.
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 at help@centtrip.com; or by phone on +44(0) 203 735 1735.
We may update or amend these terms and conditions (including our Fees & Limits Schedule). Notice of any changes will be given on our website, or by e-mail notification, or by SMS 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 clause (see clause 10).
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.
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.
Any waiver or concession we may allow you, will not affect our strict rights and your obligations under this Agreement.
You agree that you 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.
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.
All your funds are segregated from our funds, so your funds are safeguarded by law. In the event that we became insolvent your e-money funds are protected against claims made by any of our creditors.
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.
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.
View our fees and limits in full
Last Modified: April 2018
Centtrip Limited (referred to in this Notice as "Centtrip", "we", "us" or "our") respects your right to privacy. This Privacy Notice explains who we are, how we collect, share and use personal information about you, and how you can exercise your privacy rights. This Privacy Notice applies to personal information that we collect through our website at www.Centtrip.com ( “Website”), over the phone and our app ( "App") or otherwise in our dealings with individuals.
If you have any questions or concerns about our use of your personal information, then please contact us using the contact details provided at the bottom of this Privacy Notice.
We recommend that you read this Privacy Notice in full to ensure you are fully informed. However, if you only want to access a particular section of this Privacy Notice, then you can click on the relevant link below to jump to that section.
What personal information does Centtrip collect and why?
Who does Centtrip share your personal information with?
Legal basis for processing personal information
Cookie and similar tracking technologies
How does Centtrip keep my personal data secure?
International data transfers
Data retention
Your data protection rights
Third party websites
Updates to this Privacy Notice
How to contact us
The personal information that we may collect about you broadly falls into the following categories:
Information provided by our personal clients If you apply for an account through our Website or App, we may collect certain personal information to verify your identity and to open and manage an account with us. This may include name, contact details, date of birth, identification documents, financial information, photos and call and video recordings.
Information provided by or in relation to our corporate clients If a corporate client applies for a corporate account with us, we may collect certain personal information to verify the identity of its shareholders, directors or other associated individuals to open and manage an account with us. This may include full name, contact details, identification documents, video and call recordings and financial information.
Information that we obtain from third party sources We use third party providers for verification purposes only and may receive personal information about you from these third parties (including credit agencies) but only where we have checked that these third parties either have your consent or are otherwise legally permitted or required to disclose your personal information to us. Centtrip only uses a credit rating agency for verification purposes to verify identities, ages and residency of individuals, to identify and track fraud, to combat money laundering only. At no time does Centtrip use the credit rating agency to rate credit worthiness and therefore does not affect an individual’s credit rating. Centtrip uses Transunion (formerly known as CallCredit) for these purposes. Further details on Transunion can be found here: https://www.callcredit.co.uk/legal-information/bureau-privacy-notice
Information that you provide voluntarily If you contact our customer services team by phone (please note that calls may be recorded for security, training and monitoring purposes) or email we may collect personal information certain personal information to verify your identity, and answer any queries you may have about your Centtrip account. This may include full name, contact details, identification documents, call recordings, recent transactions, Centtrip account number, address details, Centtrip originated one time only codes and financial information.
Information that you provide voluntarily When you send us an email or visit our Website or App we may collect personal information volunteered by you: for example, we may ask you to provide your contact details in order to register and manage a Centtrip account with us, to subscribe to marketing communications from us, to submit enquiries to us and/or provide services you have requested. We may also use your personal information to provide information relating to account related information and product/services updates and reports. The personal information that you are asked to provide, and the reasons why you are asked to provide it, will be made clear to you at the point we ask you to provide your personal information.
Information that we collect automatically When you visit our Website or App, we may collect certain information automatically from your device. In some countries, including countries in the European Economic Area, this information may be considered personal information under applicable data protection laws.
Specifically, the information we collect automatically may include information like your IP address, device type, unique device identification numbers, browser-type, broad geographic location (e.g. country or city-level location) and other technical information. We may also collect information about how your device has interacted with our Website, including the pages accessed and links clicked.
Collecting this information enables us to better understand the visitors who come to our Website, where they come from, and what content on our Website is of interest to them. We use this information for to enable users to access the Website, our internal analytics purposes and to improve the quality and relevance of our Website to our visitors.
Some of this information may be collected using cookies and similar tracking technology, as explained further under the heading “Cookies and similar tracking technology” below.
Information that we obtain from third party sources From time to time, we may receive personal information about you from third party sources (including [give examples]), but only where we have checked that these third parties either have your consent or are otherwise legally permitted or required to disclose your personal information to us.
The types of information we collect from third parties include Merchant Category Code (MCC) location data and we use the information we receive from these third parties to maintain and improve the accuracy of the records we hold about you or for mapping of card transaction information in app.
We may also use the information collected to prepare high level anonymised statistical reports, which contain details such as the average number of company directors being authorised signatories to a company’s accounts. The information in these reports is never personal and you will never be identifiable from them. We may share these statistical and anonymised reports with third parties.
We may disclose your personal information to the following categories of recipients:
to our group companies, third party services providers and partners who provide data processing services to us (for example, to support the delivery of, provide functionality on, or help to enhance the security of our Website, assist with identity verification and KYC purposes), or who otherwise process personal information for purposes that are described in this Privacy Notice or notified to you when we collect your personal information;
to any competent law enforcement body, regulatory, government agency, court or other third party where we believe disclosure is necessary (i) as a matter of applicable law or regulation, (ii) to exercise, establish or defend our legal rights, or (iii) to protect your vital interests or those of any other person;
to an actual or potential buyer (and its agents and advisers) in connection with any actual or proposed purchase, merger or acquisition of any part of our business, provided that we inform the buyer it must use your personal information only for the purposes disclosed in this Privacy Notice;
to any other person with your consent to the disclosure.
Our legal basis for collecting and using the personal information described above will depend on the personal information concerned and the specific context in which we collect it.
However, we will normally collect personal information from you only where we need the personal information to perform a contract with you, where the processing is in our legitimate interests and not overridden by your rights, or where we have your consent to do so. In some cases, we may also have a legal obligation to collect personal information from you or may otherwise need the personal information to protect your vital interests or those of another person.
If we ask you to provide personal information to comply with a legal requirement or to perform a contact with you, we will make this clear at the relevant time and advise you whether the provision of your personal information is mandatory or not (as well as of the possible consequences if you do not provide your personal information).
Our legitimate interests include providing our clients with the services they request and administering our contracts, undertaking anti-fraud and money laundering checks and assisting partners with theirs, improving our products, assisting in our legal, tax or accounting needs, and marketing our products and services.
If you have questions about or need further information concerning the legal basis on which we collect and use your personal information, please contact us using the contact details provided under the “How to contact us” heading below.
We use cookies and similar tracking technology (collectively, “Cookies”) to collect and use personal information about you, including to serve interest-based advertising. For further information about the types of Cookies we use, why, and how you can control Cookies, please see our Cookie Notice.
We use appropriate technical and organisational measures to protect the personal information that we collect and process about you. The measures we use are designed to provide a level of security appropriate to the risk of processing your personal information. All data stored by Centtrip is encrypted using 256-bit AES keys to protect data files at rest and in motion with 128-bit AES SSL/TLS encryption. Our systems are tested and proven by approved penetration testing companies regularly.
Your personal information may be transferred to, and processed in, countries other than the country in which you are resident. These countries may have data protection laws that are different to the laws of your country (and, in some cases, may not be as protective).
Specifically, our websites, web and app platform servers are located exclusively in the EU and our group companies and third party service providers and partners also operate in the EU. This means that when we collect your personal information we may process it in any country in the EU.
We retain personal information we collect from you where we have an ongoing legitimate business need to do so (for example, to provide you with a service you have requested or to comply with applicable legal, tax or accounting requirements).
When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymise it or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
You have the following data protection rights:
If you wish to access, correct, update or request deletion of your personal information, you can do so at any time by contacting us using the contact details provided under the “How to contact us” heading below.
In addition, you can object to processing of your personal information, ask us to restrict processing of your personal information or request portability of your personal information. Again, you can exercise these rights by contacting us using the contact details provided under the “How to contact us” heading below.
You have the right to opt-out of marketing communications we send you at any time. You can exercise this right by clicking on the “unsubscribe” or “opt-out” link in the marketing e-mails we send you. To opt-out of other forms of marketing (such as postal marketing or telemarketing), then please contact us using the contact details provided under the “How to contact us” heading below.
Similarly, if we have collected and process your personal information with your consent, then you can withdraw your consent at any time. Withdrawing your consent will not affect the lawfulness of any processing we conducted prior to your withdrawal, nor will it affect processing of your personal information conducted in reliance on lawful processing grounds other than consent.
You have the right to complain to a data protection authority about our collection and use of your personal information. For more information, please contact your local data protection authority.
We respond to all requests we receive from individuals wishing to exercise their data protection rights in accordance with applicable data protection laws.
Our Website may also contain links to third-party websites. These third party sites may provide additional information, goods, services and/or promotions. These sites are owned and operated independently from us, and have their own privacy and data collection practices. Any personal information you provide to these websites will be governed under the terms of their privacy policy.
We may update this Privacy Notice from time to time in response to changing legal, technical or business developments. When we update our Privacy Notice, we will take appropriate measures to inform you, consistent with the significance of the changes we make. We will obtain your consent to any material Privacy Notice changes if and where this is required by applicable data protection laws.
You can see when this Privacy Notice was last updated by checking the “last updated” date displayed at the top of this Privacy Notice.
If you have any questions or concerns about our use of your personal information, please contact us using the following contact details:
By email: Privacy@centtrip.com Address: 1 Mark Square, EC2A 4EG
The data controller of your personal information is Centtrip Limited.
A cookie is a small text file that a website saves on your computer or mobile device when you visit the site. It enables the website to remember your actions and preferences (such as login, language, font size and other display preferences) over a period of time, so you don’t have to keep re-entering them whenever you come back to the site or browse from one page to another.
For more information see: http://www.allaboutcookies.org/
Our web platform https://account.centtrip.com/ does not use cookies. Our website www.centtrip.com (“our site”) uses cookies to distinguish you from other users of our site. This helps us to give you the best possible experience when you browse our site, and also allows us to improve our site.
We only use one type of cookie, known as analytical or performance cookie. They allow us to do a few things, including:
Count the number of visitors to our site and see how they move around when they’re using it.
Store information about your preferences, which allows us to customise our site and provide you with content which may interest you.
Recognise you when you return to our site.
All of this helps us to make our site better for you as it means we can ensure you find what you’re looking for easily and speed up your searches.
Enabling these cookies is not strictly necessary for the website to work but it will provide you with a better browsing experience. You can delete or block these cookies, but if you do that some features of this site may not work as intended (see how to control cookies below)
The cookie-related information is not used to identify you personally and the pattern data is fully under our control. These cookies are not used for any purpose other than those described here.
Please note that third parties (including, for example, advertising networks and providers of external services like web traffic analysis services) may also use cookies. We have no control over these. Third party cookies are likely to be analytical or performance cookies or targeting cookies.
You can control and/or delete cookies within your browser, by activating its setting that allows you to refuse all or some cookies - for details see aboutcookies.org
Please be aware that if you change your browser settings to block all cookies (including essential cookies), you may have to manually adjust some preferences every time you visit the site and you may not be able to access all or parts of our site.