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Terms & Conditions

Account Conditions

These Account Conditions govern the use of the Personal Account (defined below). Please read these Account Conditions carefully as they set out your and thinkmoney’s rights and obligations in respect of the Personal Account.

These Account Conditions should also be read carefully together with the Card Conditions (defined below) set out separately to these Account Conditions below.

Definitions

The following defined words are used in these Account Conditions and have the meanings set out next to them.

Accounts means the Salaries Account and the Card Account taken together.

Bank means The Royal Bank of Scotland plc whose registered office is 36 St Andrew Square, Edinburgh EH2 2YB.

Business Day means Monday to Friday inclusive, excluding bank and public holidays.

Card Conditions means the terms and conditions governing the use of the thinkmoney Card.

Group means the group consisting of the companies in thinkmoney’s group.

Personal Account means the account called the “Personal Account” provided by thinkmoney, made up of a “Salaries Account” (into which your salary and other regular income is paid) and a “Card Account” (from which you can make card payments). The Salaries Account and Card Account are both in thinkmoney's name with the Bank, designated in your name with funds held on trust by thinkmoney for you.

Shortfall means a shortfall arising because a transaction is completed when there are insufficient funds in your Personal Account for that transaction.

Text Service means the service you can register for with thinkmoney to send requests for and receive account information on your Accounts by SMS text messaging.

thinkmoney means references to Think Money Limited whose registered office is Think Park, Mosley Road, Trafford Park, Manchester, M17 1FQ, telephone number 08000 566 566 which is authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 900033) for the issuing of electronic money and the provision of payment services.

thinkmoney Card means the card issued by Wirecard Card Solutions Limited for you to make withdrawals from the Card Account or otherwise to make payments using the cash in the Card Account, the use of which is governed by the Card Conditions set out separately to these Account Conditions below.

Wirecard Card Solutions Limited means Wirecard Card Solutions Limited whose registered office is 3rd Floor, Grainger Chambers, 3-5 Hood Street, Newcastle upon Tyne NE1 6JQ which is authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 900051).

You and your are references to you as the client who has asked thinkmoney to open a Salaries Account and a Card Account. If you have joint Accounts, “you” includes both clients, together and separately.

1. Opening the Accounts

1.1 To be eligible for the Personal Account you must be at least 18 years old and a UK resident, and if your residency changes whilst you have a Personal Account, you will notify thinkmoney.

1.2 thinkmoney will ask the Bank to open a Salaries Account and a Card Account as client accounts in thinkmoney’s name, but designated in your name. To arrange payments to or from your Accounts you will be given an Account number and sort code.

1.3 In order to open your Personal Account, the Bank requires that thinkmoney carry out certain identification and address verification procedures. To carry out those procedures, thinkmoney need you to supply certain documents to it, which thinkmoney will forward to the Bank for their identification and address verification procedures as required by law. The Bank may refuse, at its discretion, to open the Accounts without giving reason.

1.4 These Account Conditions apply once we confirm that your Personal Account has been opened by us sending you details of your Personal Account number and sort code. Until you receive this notification, no account has been opened.

2. Operating the Accounts

2.1 You will arrange for your salary/income to be paid into the Salaries Account. thinkmoney will deduct from the Salaries Account the fees due to thinkmoney under clause 3 of these Account Conditions. You agree to only use the Personal Account for your personal use and not for business purposes. Using the Personal Account for business purposes will be a breach of these Account Conditions.

2.2 If you create a standing order or thinkmoney receive from a third party a Direct Debit payment request, thinkmoney will arrange for the Bank to make the authorised payments from the Salaries Account, provided there is a sufficient balance to meet the payments by 2.30pm on the day the payments are due. If the balance is not sufficient to make the payments by 2.30pm, thinkmoney will arrange for the Bank to stop the standing order or reject a payment and will inform you. If thinkmoney have to arrange for the Bank to stop or reject a payment three times or more, thinkmoney may treat those payments as cancelled and arrange for the Bank to withdraw the Direct Debit and standing order facility and thinkmoney will notify you if that occurs. You must then make alternative arrangements for payment to the intended recipients. If you have joint Accounts, instructions authorising withdrawals may be given or signed by either of you. You can cancel the following transactions by contacting thinkmoney at the address or telephone above at any time before the times listed below on the Business Day before the payment is due:

(a) A regular payment made by Direct Debit by 5pm;

(b) A regular payment made by standing order by 3pm;

(c) A regular payment made on the thinkmoney Card by 4pm

You should also contact the recipient of the payment to ensure they do not keep trying to take payment.

2.3 thinkmoney will arrange for the Bank to transfer from the Salaries Account to the Card Account each Business Day the balance after payments and deductions under clauses 2.1, 2.2 and 3 have been made. Any transfers will be made at the start of each Business Day and throughout the Business Day should funds become available in the Salaries Account after the commitments you have informed thinkmoney of are taken into account. You must tell thinkmoney if you create a Direct Debit authority, as if thinkmoney do not know about it, thinkmoney cannot arrange for the Bank to retain funds in the Salaries Account to meet the payment. If at any time a payment is to be made from the Salaries Account and there are insufficient funds in that account but there is a balance available in the Card Account, thinkmoney will arrange for the Bank to transfer funds back to the Salaries Account from the Card Account, to make the payment and notify you of this. thinkmoney may also arrange for funds to be debited from the Accounts if it is required to do so to comply with its legal obligations or those imposed on it by any governmental or regulatory authority or by a court of competent jurisdiction.

2.4 If there are sufficient cleared funds in your Card Account you will be able to withdraw cash from the Card Account. You will receive a thinkmoney Card issued by Wirecard Card Solutions Limited for you to make withdrawals from the Card Account or otherwise to make payments using the cash in the Card Account. There is a daily cash withdrawal limit on the Card Account of £450.00 per calendar day. In any event, you will not be able to withdraw more than the balance on the Card Account.

2.5 Standing orders and Direct Debit payments cannot be made from the Card Account.

2.6 The Bank will add interest to the Accounts monthly after deduction of tax. The current interest rate, as set by the Bank, is 3% below the Bank’s variable rate as altered from time to time, subject to a minimum of 0%. Details of the Bank’s variable rate are available on request or can be found at www.rbs.co.uk. Any changes to the rate of interest that the Bank notifies thinkmoney of will take effect immediately. The rate of interest applicable to the Personal Account is set out on thinkmoney's website at www.thinkmoney.co.uk.

2.7 The minimum withdrawal which can be made from an ATM using your card is £5, subject to the ATM issuing that denomination. There is no minimum value of point-of sale transactions using your card.

2.8 thinkmoney will notify you of specified events affecting your Salaries Account (e.g. the crediting of a salaries receipt). thinkmoney will do this by Text Service (please see clause 9 below for further details), in writing or by email or by other means thinkmoney agree with you.

2.9 Any transaction on your Account will be regarded as authorised by you where you authorise the transaction by notifying thinkmoney in writing (by letter or payment slip verified by a signature, SMS text message, email or via thinkmoney's online banking site using your username and password) or by telephone (where calls may be recorded for security and monitoring purposes). This will include you providing information to verify your identity and security information. Where permitted, Direct Debits may be requested and collected from your Personal Account by third parties and thinkmoney will accept these requests as having been authorised by you and arrange for the Bank to process them. Authorisation for a transaction may not be withdrawn (or revoked) by you after the time it is received. However, any transaction which is agreed to take place on a date later than the date it was authorised (excluding thinkmoney Card transactions) may be withdrawn if you give notice to us as long as notice was provided no later than 3pm on the Business Day before it was due to take place. All transactions will be processed in Sterling unless you notify thinkmoney and thinkmoney agree otherwise.

2.10 thinkmoney may refuse to process your instructions (or any part of them) if:

a) thinkmoney are concerned about the security of your Personal Account or thinkmoney suspect your Personal Account is being used in an unauthorised, illegal or fraudulent manner;

b) sufficient cleared funds are not held in your Personal Account at the time of a transaction to cover the amount of the transaction and any applicable fees;

c) there is an outstanding Shortfall in your Personal Account in accordance with condition 2.11 below;

d) thinkmoney have reasonable grounds to believe that you are acting in breach of this agreement;

e) because of errors, failures (whether mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing transactions;

f) thinkmoney and/or the Bank are required to do so to comply with their legal obligations or those imposed on them by any governmental or regulatory authority or by a court of competent jurisdiction .

If thinkmoney refuse to process your instructions it will notify you as soon as possible unless it is prevented from doing so by law, a court order or a regulator.

2.11 In the unlikely event that, for any reason whatsoever, a Shortfall arises, the Shortfall shall be reimbursed by you immediately from the next income or credit to be paid into the Personal Account unless it is due to an error on the part of the payee, in which case thinkmoney will seek to recover the Shortfall from the payee.

You agree that once thinkmoney make this Shortfall known to you, you will repay the Shortfall amount to the extent that thinkmoney do not seek the Shortfall from the payee. thinkmoney may arrange for the Bank to charge the amount of the Shortfall against any funds which you may subsequently have in any of your Personal Accounts. Until thinkmoney are reimbursed the Shortfall, and unless it is due to an error on the part of the payee or thinkmoney, thinkmoney may arrange for your thinkmoney Card and Accounts to be suspended.

2.12 Where cash is paid into your Personal Account at a branch of the Bank before 3.30pm on a Business Day or a Saturday it will be credited to your Personal Account and available to use the same day or within 3 Business Days if paid in at a branch of the National Westminster Bank. You may send to thinkmoney or pay in at a branch of the Bank a UK cheque payable to you for payment into the Salaries Account. If paid in before 3.30pm on a Business Day, the amount of the cheque will be available to use after 8 Business Days following receipt provided thinkmoney do not receive notice of non payment. thinkmoney may, at thinkmoney's discretion and at your request, agree to allow withdrawal after 3 Business Days in exceptional circumstances dependent on the identity of the payer of the cheque. You will not be permitted to pay in a cheque payable to a third party and endorsed in your favour.

Where a cheque which is not in Sterling, and/or is from a bank or building society outside of the UK, is paid into your Personal Account, the following will apply:

(a) Where the cheque is for less than £1000 (or Sterling equivalent) and is negotiable, thinkmoney will arrange for the Bank to negotiate it with the payer’s bank.

(b) Where the cheque is for less than £1000 (or Sterling equivalent) and the cheque is non negotiable, thinkmoney will arrange for the Bank to collect this and not negotiate with the payer’s bank.

(c) Where the cheque is for more than £1000 (or Sterling equivalent), thinkmoney will arrange for the Bank to collect this and not negotiate it with the payer’s bank.

The collection of cheques for less than £1000 (or Sterling equivalent) is subject to fees (primarily agent’s fees from the Bank from whom thinkmoney are collecting), which makes the collection, as opposed to negotiation, of such cheques uneconomical. If you insist on collection of negotiable cheques under £1000 (or Sterling equivalent) you agree that thinkmoney may charge you and you will pay any fees resulting from collection.

The timescales for it being credited to your Personal Account are governed by the payer’s bank. The funds should be available to use within 6 weeks but this is entirely at the discretion of the payer’s bank. Where monies are sent to your Personal Account via BACS or CHAPS or Faster Payments, the funds will be credited to your Account on the Business Day or Saturday that thinkmoney receive them if received before 5pm or the next Business Day if received after that time.

The above are all subject to our compliance procedures and usual security and risk checks which may result in thinkmoney refusing to accept a payment order. In such case we will, where possible, notify you of the reasons for such refusal.

2.13 Where you authorise thinkmoney before 5pm on a Business Day (or before 4pm on a Saturday) to arrange for monies to be sent using Faster Payments, the payment will normally be credited to the payee’s account on the next Business Day, providing the amount is within the defined limits of up to £100,000 and the receiving bank uses Faster Payments.

Further information on Faster Payments can be found on our website at www.thinkmoney.co.uk. Any authorisations received after the above time will be treated as being received by us on the next Business Day.

You cannot cancel a Faster Payment once you have authorised it and you must ensure that you have provided thinkmoney with the correct recipient details and a reference which will allow the recipient to identify the payment, where possible.

Where you authorise thinkmoney before 2pm on a Business Day to arrange for the Bank to send monies to a third party via CHAPS, this should be credited to the destination account on the same day. Any authorisation received after 2pm on a Business Day should be credited to the destination account on the next Business Day. A fee of £20 is payable for a transfer via CHAPS.

Where you authorise thinkmoney to arrange for the Bank to make a payment from your Personal Account to a recipient outside of the UK, International timescales will apply and the Bank may charge a fee of £25 where you do not provide the correct account details for the recipient and the Bank is charged by the recipient bank for querying. International transfers are subject to delays depending on the country of destination and service required. thinkmoney aim to arrange for, but cannot guarantee, the Bank to process these payments as follows:

(a) For the standard service, there will be a fee of £15 which will be deducted from your Account at the same time as the transfer. Where you authorise thinkmoney before 3pm on a Business Day to arrange for the Bank to send monies to a third party, this should be credited to a destination account in Western Europe or USA within 5 Business Days and to the rest of the World within 10 Business Days.

(b) For the express service, there will be a fee of £20 which will be deducted from your Account at the same time as the transfer.

Where you authorise thinkmoney before 3pm on a Business Day to arrange for the Bank to send monies to a third party, this should be credited to a destination account in Western Europe or USA within 3 Business Days and to the rest of the World within 7 Business Days.

Any authorisations received after the above time limits will be treated as being received by thinkmoney on the next Business Day.

The above will always be subject to our compliance procedures and usual security and risk checks which may result in thinkmoney refusing to accept a payment order. In such case we will, where possible, notify you of the reasons for such refusal.

2.14 Personal Accounts held by two individuals (“Joint Personal Account(s)”) are handled on the authority set out in these Account Conditions as follows:

(a) Personal Accounts do not generally require the consent or signature of all Joint Personal Account holders to be obtained in relation to individual transactions or instructions to us. Unless and until either or both of you cancels this authority, thinkmoney will deal with instructions given by either of you. This is subject to condition 2.14(c) below.

(b) thinkmoney may disclose information regarding the Joint Personal Account to either of you.

(c) If one of you notify thinkmoney that there is a dispute between you both in relation to the Personal Account thinkmoney will then require the consent from both of you to carry out your instructions on the Personal Account. Your Cards may be suspended until you both notify us that the dispute has been resolved. Any deduction of thinkmoney's fees will continue to be debited from the Joint Personal Account.

(d) In the event of the death of either of you, the survivor has authority to instruct thinkmoney to arrange payment to them of any available balance subject to any rights which thinkmoney or a third party may have in relation to the Personal Account and which thinkmoney are notified of.

2.15 You should remain aware of your balance and of the impact which real time and overnight transactions can have on the available funds. Your ability to withdraw funds on non business days (public and bank holidays and over weekends) will be affected by any Direct Debits, standing orders, and salary payments which are due to be processed on the next Business Day. Some payments made from your Personal Account will be processed on a non business day prior to the payments being actually due (this applies to payments by Direct Debit, cheques and standing orders). Any cancellation of payments due must therefore be made by 3pm on the preceding Business Day if the cancellation is to be implemented. Any amendments to payments must be made by close of business 5 Business Days prior to the payment due date.

2.16 With your Personal Account, you will receive a monthly statement from the Bank showing all credits and debits to your Personal Account between the dates shown on the statement. Duplicate statements can be provided at a cost of £5.00 per duplicate statement for each Account which will be deducted from your Account.

3.Fees

3.1 You will pay thinkmoney an Account operation fee of £14.50 for a single Account and £21.25 for a joint Account each month, the first fee being taken upon the first monthly balance transfer from the Salaries Account to the Card Account under clause 2.3 (plus, in each case, Value Added Tax, if applicable). Each month thereafter the monthly fee will be debited from the first monthly balance transfer from the Salaries Account to the Card Account. The amounts of these fees are notified by thinkmoney to you when opening the Account and are set out in the Personal Account brochure. You must also pay the fees set out in the Card Conditions.

3.2 thinkmoney will charge these fees to the Salaries Account. The fees may be revised from time to time and thinkmoney will provide you with at least 2 months’ notice of any changes or new fees which will then come into effect after this period in accordance with clause 6.1 unless you terminate your Personal Account.

4. thinkmoney Card Conditions

4.1 thinkmoney will give you a copy of the thinkmoney Card Conditions. You must read the thinkmoney Card Conditions and you agree with thinkmoney to comply with them.

5. Loss or Misuse

5.1 Your PIN and security information to access your online account management is confidential and must not be disclosed to anyone. If your card is lost or stolen or you suspect that someone knows the PIN or your security information, you must call thinkmoney without undue delay on 08000 566 566 or 0044 161 779 522 if you are outside of the UK.

5.2 If our investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence, we will not refund the transaction.

5.3 You authorise thinkmoney to give to any appropriate third party any relevant information in connection with the loss or possible misuse of your Accounts or loss, theft or possible misuse of the card or PIN.

5.4 If the card is misused by someone who has it with your permission, you will have to pay for all transactions carried out with the card by that person.

5.5 You will not be responsible for any loss arising from misuse of a card if you have not received it.

5.6 You may be entitled to claim a refund in relation to transactions where:

(a) the transaction was not authorised under these terms and conditions;

(b) thinkmoney are responsible for a transaction which was incorrectly executed after you had notified thinkmoney in accordance with clause 5.1 and/or 5.7;

(c) a pre authorised transaction did not specify the exact amount at the time of its authorisation and the amount charged by a supplier is more than you could reasonably have expected taking into account normal spending patterns on the Personal Account or the circumstances of the transaction;

(d) a claim for a refund in the circumstances set out above will not be accepted if the amount of the transaction was made available to you at least 4 weeks before the transaction date or it is made more than 8 weeks after being debited to your account;

(e) thinkmoney were notified of the unauthorised/incorrectly executed transaction within 13 months of the debit date;

(f) the transaction is a Direct Debit which is covered under the UK Direct Debit Guarantee scheme.

5.7 Should you notice any transactions in your statement that you do not recognise, you must call thinkmoney without undue delay on 08000 566 566 or 0044 161 779 522 if you are outside of the UK. If you dispute that a transaction was authorised by you, thinkmoney will refund the value of the transaction to your Card Account immediately unless further investigation is required. If thinkmoney’s 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 thinkmoney Card or PIN or password secure), thinkmoney will not refund the transaction amount and thinkmoney reserve the right to recover the value of the transaction(s) that it may have refunded from you.

6. Changes to these Account Conditions

6.1 thinkmoney may change these Account Conditions from time to time in the following circumstances by providing you with at least 2 months prior notice before any change takes effect:

(a) changes in market conditions or operating costs affecting its business;

(b) changes in technology;

(c) changes in payment methods;

(d) changes in relevant laws and regulatory requirements;

(e) changes in its systems capabilities.

You have the right to cancel your Account before any change comes into effect without penalty. The up to date version of these Account Conditions is available on www.thinkmoney.co.uk or you may request a copy by contacting thinkmoney at the address or telephone number above.

6.2 thinkmoney may make immediate changes to the exchange rate used to convert foreign transactions into Sterling. For all transactions made in a foreign currency you can find out what applicable exchange rate by contacting thinkmoney.

7. Cancellation

7.1 You have a right to cancel these Account Conditions at any time within 14 calendar days beginning the day after we send you notification that your Accounts have been opened. You can do this by calling 08000 566 566 and stating that you wish to cancel or writing to thinkmoney at the address at the start of these Account Conditions. thinkmoney will then refund to you from cleared funds any fees already paid to us and the balance in your Personal Account. If you instruct thinkmoney to make several payments and/or transactions during this period, thinkmoney may at its discretion retain all or a proportion of the fees paid to us.

7.2 thinkmoney may, without giving a reason, refuse to arrange for the Bank to make a deposit or terminate these Account Conditions and arrange for the Bank to close the Salaries Account and the Card Account by giving you 2 months’ written notice or 7 days’ notice if you are in breach of these Account Conditions or the thinkmoney Card Conditions, or you behave in a threatening or violent manner towards thinkmoney staff. You will cease to be able to use your thinkmoney Card on the expiry of the notice and thinkmoney will arrange to return to you any balance on the Salaries Account or the Card Account immediately after the expiry of the notice. If there are funds in your Accounts and despite communications from thinkmoney, you do not use the Accounts and thinkmoney do not hear from you for some time , thinkmoney may arrange for your Accounts to be made dormant to help protect against fraud. thinkmoney will then charge a monthly fee of £1.10 so long as the Accounts are dormant and there are funds in either of them up to a period of 15 years from becoming dormant. You will remain entitled to your funds, which you may claim back at any time.

7.3 thinkmoney may at any time suspend, restrict or cancel your Personal Account for reasons relating to the following:

(a) thinkmoney are concerned about security of your Account or thinkmoney Cards thinkmoney have issued to you;

(b) thinkmoney suspect your Account is being used in an unauthorised or fraudulent manner;

(c) thinkmoney need to do so to comply with the law;

(d) you are not eligible for a Personal Account;

7.4 If thinkmoney do this, thinkmoney will tell you as soon as thinkmoney can or are permitted to do so after thinkmoney have taken these steps.

7.5 If you wish to close the Personal Account, you may do so by writing to notify thinkmoney or calling it on 08000 566 566. On receipt of your cancellation, you will cease to be able to use your thinkmoney Card and Accounts.

7.6 Once the Personal Account ends, it will be your responsibility to arrange for your salary/income to be paid to you direct.

8. Your information – using and sharing your information

8.1 Your information comprises all the details thinkmoney and the Bank hold about you and your transactions, and includes information obtained from third parties.

8.2 thinkmoney is the data controller of your Accounts. How thinkmoney use and share your information is detailed in clauses 8.3 to 8.9 and 8.13. How the Bank uses your information is detailed in clauses 8.10 to 8.13. thinkmoney and the Bank transfer your information to each other for the purpose of operating the Accounts.

8.3 Your information may be held on a Group database and used by thinkmoney and any Group company for the purposes set out in this clause. Your information includes any information which thinkmoney or any Group company holds, now or at any time in the future and which comes from, or relates to:

(a) application forms or other dealings with any Group company;

(b) third parties, such as credit reference agencies and parties associated with you;

(c) your services from any Group company.

8.4 thinkmoney and other Group companies will use, analyse and assess your information to maintain and develop thinkmoney’s relationships with you. This will include using it for the following purposes:

(a) considering any applications made by you and helping thinkmoney make credit related decisions about you;

(b) operating and administering the services thinkmoney, and/or other Group companies supply;

(c) servicing your relationships with Group companies;

(d) financial risk assessment, money laundering checks, compliance and regulatory reporting and fraud prevention;

(e) helping us, other Group Companies and the insurance underwriters of any insurance products offered by thinkmoney or other Group companies to make decisions on any insurance proposals and claims such as motor, household, credit and life, for you, members of your household and others connected with your insurance proposals and claims;

(f) helping thinkmoney and other Group companies to identify products and services which may interest you (unless you have asked thinkmoney not to); and

(g) helping thinkmoney and other Group companies to understand and develop thinkmoney’s respective businesses, including new and innovative products and services.

8.5 For operational uses such as in (a), (b), (c), (d) and (e) of Condition 8.4, thinkmoney may link your information between your accounts and other products and services you maintain with us. thinkmoney may also link your information with that of others with whom you have a financial connection and this includes that thinkmoney may share information about you and the Accounts with both of you if you have a joint Account. thinkmoney will not use the links for marketing purposes without your consent.

8.6 During the time that you have your Personal Account, the way thinkmoney look at, record and use information about you may change. In most cases these changes will result from improvements in technology and thinkmoney believe that you will be comfortable with them. Where thinkmoney feel the changes may not be obvious to you, thinkmoney will tell you before thinkmoney introduce them. When you open your Personal Account, you agree that, by continuing to maintain your Personal Account for at least 60 days after thinkmoney have notified you of a change to the way thinkmoney may use your information, you will be happy with that change – unless you contact thinkmoney at the address or telephone number above, telling thinkmoney that you do not wish your information to be used in this way.

8.7 thinkmoney do not disclose your information outside the Group except:

(a) for operational reasons described in (a), (b), (c), (d) and (e) of Condition 8.4;

(b) where thinkmoney have your consent;

(c) to the Bank for the sole purpose of running your Personal Account;

(d) where thinkmoney are required or permitted to do so by law;

(e) to persons to whom thinkmoney may transfer rights and obligations under thinkmoney’s agreement with you;

(f) to any persons who provide a service to us, and who have agreed to keep your information strictly confidential;

(g) to any persons who supply benefits or services to you under or in connection with your Accounts; and

(h) for customer profiling, customer feedback and analysis purposes.

8.8 In order to provide the services you have requested or may request from time to time, it may be necessary for your information to be transferred to someone who provides a service to thinkmoney in other countries. If this happens, thinkmoney will ensure that anyone to whom your information passes agrees to treat your information with the same level of protection as if thinkmoney were dealing with it.

8.9 You have the right of access to your personal records held on thinkmoney’s files by written request to the address above and on payment of a fee in accordance with the data protection legislation to be notified to you.

8.10 The Bank is a member of The Royal Bank of Scotland Group. The Bank may use and share your information with other members of The Royal Bank of Scotland Group solely to help the Bank prevent and detect crime.

8.11 The Bank does not disclose your information to anyone outside The Royal Bank of Scotland Group except:

(a) where the Bank has your permission; or

(b) where the Bank is required or permitted to do so by law; or

(c) to fraud prevention agencies and other companies that provide a service to the Bank or you; or

(d) where the Bank may transfer rights and obligations under these Account Conditions or its agreement with thinkmoney.

8.12 The Bank may transfer your information to other countries worldwide on the basis that anyone to whom the Bank passes it provides an adequate level of protection. However, such information may be accessed by law enforcement agencies and other authorities to prevent and detect crime and comply with legal obligations.

8.13 If false or inaccurate information is provided and fraud is identified or suspected, details may be passed to fraud prevention agencies. Law enforcement agencies may access and use this information.

9. Account updates by Text Service

9.1 The terms contained in this Condition 9 only apply to you if you have registered for the Text Service.

9.2 When you register for the Text Service thinkmoney will provide system generated Personal Account updates by SMS text message whenever credits are applied to your Card Account in cleared funds and such credits are £5 or greater or on receipt of your valid SMS text message request. thinkmoney may also provide further balance and statement information as part of the Text Service, as notified to you from time to time.

9.3 You are responsible for the security of your mobile telephone and you must take all reasonable precautions to prevent anyone else from accessing your confidential information, including using all security features available on your mobile telephone (including any SIM card personal identification number) and keeping your mobile telephone safe at all times and not leaving it unattended in a place accessible to anyone else who you would not wish to see your account information.

9.4 You must inform thinkmoney immediately on 08000 566 566 or 0044 161 779 522 if you are outside of the UK if:

(a) your mobile telephone is lost or stolen;

(b) you know or suspect that someone else knows your SIM card personal identification number or otherwise has access to your SMS text messages; or

(c) your mobile telephone number changes or your contract with your mobile network operator ends.

9.5 If you take your mobile telephone outside the UK whilst registered for the Text Service you will be deemed to authorise us, the network operator and any third party to whom information about you and your accounts has been properly passed for the provision of the Text Service, to transmit and store such information as is necessary to send text messages to your mobile telephone.

9.6 Whilst thinkmoney will make reasonable efforts to provide the Text Service, thinkmoney will not be liable for any failure to provide the Text Service due to any reason beyond thinkmoney’s reasonable control, including any suspension of either service resulting from maintenance and upgrades to thinkmoney’s systems or those of any other party used to provide the Text Service.

9.7 You may end or suspend the Text Service at any time by contacting thinkmoney at the address or on the telephone number above.

9.8 thinkmoney may suspend, withdraw or restrict the use of the Text Service where thinkmoney consider it appropriate for thinkmoney’s or your protection. thinkmoney will inform you of such suspension, withdrawal or restriction as soon as practicable. thinkmoney may also end the provision of the Text Service at any time by giving you 2 months’ notice in writing (including by email or SMS text message).

9.9 There is no charge for the Text Service. However, thinkmoney reserve the right to introduce a charge and/or changes the Text Service in the future, by giving you 2 months prior notice in accordance with clause 6.1. After the expiry of such notice you hereby authorise thinkmoney to debit your Personal Account with such charges for providing the Text Service. You may be charged by your network provider for any texts you send thinkmoney and SMS text messages to the short code number are not usually included in any inclusive text bundles. You should check with your network provider for the exact cost.

9.10 By requesting and using the Text Service you accept that:

(a) the text messages may contain information about you and your Personal Account which is confidential and they are sent at your own risk; and

(b) messages sent by the Text Service are not secure and once the message has been sent thinkmoney cannot be held responsible if for any reason it fails to arrive, or it arrives incomplete or in any way different from the message thinkmoney sent or if the message has been seen by an unauthorised person.

10. thinkmoney’s liability

thinkmoney cannot guarantee that thinkmoney will necessarily authorise any particular transaction. This may be as a result, directly or indirectly, of a systems problem, issues which are unforeseeable or outside thinkmoney’s reasonable control, or because thinkmoney are concerned that your Personal Account is being misused or due to thinkmoney being provided with incorrect information. Accordingly, thinkmoney shall not be liable for any loss you may suffer unless thinkmoney have been negligent or not acted in accordance with these Account Conditions or unless otherwise required by law. In the event that you do not use your Personal Account with reasonable care in accordance with these terms and conditions or thinkmoney discover or are notified that you are using the Personal Account fraudulently, thinkmoney reserve the right to charge you for any reasonable costs that thinkmoney incur in taking action to stop you using the Personal Account and to recover any monies owed as a result of your activities.

11. Assignment

thinkmoney may assign the benefit and burden of these Account Conditions at any time, on giving you at least 2 months’ prior written notice of this. If thinkmoney do this, you authorise thinkmoney to give the assignee any financial or other related information about you, but your rights under these Account Conditions will not be affected.

12. Notices

Any notices to be served under these Account Conditions shall be valid if served on thinkmoney at its head office, and if served on you, at your address or e mail address (if you have consented to receive information from us electronically) last known to us. Any notice will be deemed received and properly served on the next Business Day after an e mail is sent or two days after the date of posting of any letter. In proving the service of any notice, it will be sufficient to prove, in the case of a letter, that the letter was properly addressed, stamped and placed in the post and, in the case of an e mail, that the e mail was sent to the specified e mail address of the addressee. You agree to keep thinkmoney informed of any change to your name, phone number, e mail address or postal address. You agree that thinkmoney may store any correspondence, including e mails, with you for future reference in order to satisfy thinkmoney’s legal obligations. thinkmoney will not be liable to you if your contact details have changed and you have not told thinkmoney.

13. Complaints

13.1 The Personal Account is managed by us. If you are unhappy in any way with the Personal Account or the way it is managed, please contact thinkmoney’s Customer Relations Department at the address or by the telephone number above. Your complaint will be dealt with quickly and fairly.

13.2 If you are not happy with the final response from us, you have the right to complain to the Financial Ombudsman Service of South Quay Plaza, 183 Marsh Wall, London E14 9SR, details of which can be found at www.financial ombudsman.org.uk.

14. Communications

All communications from thinkmoney to you will be in English. If you have an enquiry relating to your Personal Account, you can contact thinkmoney at the address or on the telephone number above. The telephone line is a chargeable service. Calls are charged at a local rate from a fixed BT landline. Call costs from other networks may vary. If you register to access your Account online you will need access to a computer and network connection. You should have adequate anti-virus protection and you are responsible for the security of your computer and must take all reasonable precautions to prevent anyone else from accessing your account, including using security features available on your computer and keeping it safe at all times.

15. Governing Law and Enforceability

15.1 These Account Conditions are governed by English law and the Courts of England and Wales shall have the non-exclusive jurisdiction for all matters arising under them.

15.2 If any provision (or part of a provision) of these Account Conditions is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions will remain in force.

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Card Conditions

Card Conditions

These Card Conditions apply to your thinkmoney Card. You must read them carefully as they apply in conjunction with your thinkmoney Account Conditions (defined below) and by using your thinkmoney Card you are agreeing to these Card Conditions. These Card Conditions apply once we confirm that your Personal Account has been opened by us sending you details of your Personal Account number and sort code. Definitions

The following defined words are used in these Card Conditions and have the meanings set out next to them.

Account Conditions means the terms and conditions that govern the use of the Personal Account.

Business Day means Monday to Friday inclusive, excluding bank and public holidays.

Card Account means the “Card Account” (from which you can make card payments) in thinkmoney’s name with the Bank, designated in your name, which taken together with the “Salaries Account” constitutes the Personal Account.

Bank means The Royal Bank of Scotland plc whose registered office is 36 St Andrew Square, Edinburgh EH2 2YB.

Wirecard Card Solutions Limited means Wirecard Card Solutions Limited whose registered office is 3rd Floor, Grainger Chambers, 3-5 Hood Street, Newcastle upon Tyne NE1 6JQ which is authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 900051).

Personal Account means the managed account called the “Personal Account” provided by thinkmoney, made up of a “Salaries Account” (into which your salary and other regular income is paid) and a “Card Account” (from which you can make card payments). The Salaries Account and Card Account are both in thinkmoney’s name with the Bank, designated in your name.

thinkmoney means Think Money Limited whose registered office is Think Park, Mosley Road, Trafford Park, Manchester, M17 1FQ, telephone number 08000 566 566.

strong>thinkmoney Card means the thinkmoney Prepaid Debit MasterCard® issued by Wirecard Card Solutions Limited for you to make withdrawals from the Card Account or otherwise to make payments using the funds in the Card Account, the use of which is governed by the Card Conditions.

We, us and our are references to Wirecard Card Solutions Limited or thinkmoney acting on its behalf.

You and your are references to you as the client who has asked thinkmoney to open a Card Account. If you have joint Accounts, “you” includes both clients, together and separately.

1. Your thinkmoney Card

Your thinkmoney Card is issued by Wirecard Card Solutions Limited. You can use the thinkmoney Card at any location that displays the MasterCard® Acceptance Mark, including shops, restaurants, online, or on the telephone. You can also use your thinkmoney Card overseas. Your thinkmoney Card will be valid for 36 months. You will not be able to use your thinkmoney Card after its expiry. Wirecard Card Solutions Limited will issue you with a new thinkmoney Card prior to expiry. Your thinkmoney Card is not a credit card. Your thinkmoney Card is the property of Wirecard Card Solutions Limited and is not transferable to anyone else.

2. Applying for and activating your thinkmoney Card

To be eligible for a thinkmoney Card you must be at least 18 years old, hold a Personal Account and be a UK resident. We will require evidence of who you are and your address. We may ask you to provide some documentary evidence to prove this and/or We may carry out checks on you electronically. You must sign the signature strip on the reverse of the thinkmoney Card as soon as it is received.

3. Using your thinkmoney Card

Your thinkmoney Card can be used to withdraw funds and pay for goods or services where MasterCard® is accepted as a method of payment. It is linked to your Card Account and monies paid into your thinkmoney Salaries Account, after deduction of the payments and fees notified to thinkmoney, will be available to be debited from your Card Account using your thinkmoney Card. We will deduct the value of any transactions from the balance in your Card Account. If at the time of a transaction there are insufficient funds available in your thinkmoney Card Account to cover the amount of the transaction and any related fees, the transaction may be declined. The daily withdrawal limit is £450.00 per calendar day and you cannot make more than 3 withdrawals per calendar day from one or more ATM. You can obtain detailed instructions on how to use your thinkmoney Card by calling thinkmoney on 08000 566 566.

4. Authorising transactions

Subject to the features of your thinkmoney Card, the authorisation of a transaction can include authorising any single transaction, a series of recurring transactions (including transactions for an indefinite period) or pre authorising future transactions of a certain or uncertain amount. A thinkmoney Card transaction will be regarded as authorised by you where you:

(a) authorise the transaction at the point of sale by following the instructions provided by the merchant or retailer to authorise the transaction, which may include:

(i) entering your PIN or providing any other security code;

(ii) signing a sales voucher;

(iii) providing the thinkmoney Card details and/or providing any other details as requested;

(iv) waving/swiping the thinkmoney Card over a card reader or inserting your thinkmoney Card into a card reading device for the purpose of making a payment; or

(b) insert a thinkmoney Card and enter your PIN to request a cash withdrawal at an ATM.

Authorisation for a Card transaction may not be withdrawn (or revoked) by you after the time it is received. A transaction (the payment order) will be received as follows:

(a) for purchases and ATM transactions, at the time thinkmoney receive the transaction instruction from the merchant acquirer or ATM operator; and

(b) for other transactions which are communicated directly to thinkmoney, at the time you ask thinkmoney to arrange for Wirecard Card Solutions Limited to complete the transaction.

5. Cancellation and expiry of your thinkmoney Card

These Card Conditions will continue indefinitely unless terminated in accordance with this clause or clause 7 of the Account Conditions. We may also cancel these Card Conditions for any reason by giving you at least 2 months’ notice. If your thinkmoney Card Account is cancelled, it will be immediately blocked so it cannot be used. You will not be entitled to a refund of money you have already spent on transactions authorised or pending or of any fees for use of your thinkmoney Card before your thinkmoney Card is cancelled or expires. If your thinkmoney Card is cancelled you must destroy it by cutting vertically through its chip and magnetic stripe. We may cancel your thinkmoney Card immediately if we suspect fraud or misuse of your thinkmoney Card, have any other security concerns or need to do so to comply with the law. If we do this, we will tell you as soon as we are permitted to do so./p>

6. Keeping yourthinkmoney Card secure

You must keep your thinkmoney Card safe and not let anyone else use it. If you are issued with a Personal Identification Number (“PIN”), you must immediately memorise it and destroy the notification. You must keep your PIN secret at all times. You can change your PIN to something more memorable at most ATM machines by following the onscreen instructions. We recommend that you check the balance of your thinkmoney Card Account regularly. You can do this by calling thinkmoney on 08000 566 566 or via the Text Service or by checking your statements sent to you monthly by the Bank. You must tell thinkmoney without undue delay if you notice transactions that you do not recognise. For security purposes, you must notify thinkmoney if you will be using your thinkmoney Card abroad including your intended departure and return dates. Failure to do so could result in your Card being suspended./p>

7. Our liability

Like other payment cards, we cannot guarantee a retailer will accept your thinkmoney Card, or that we will necessarily authorise any particular transaction. This may be because of a systems problem, something outside our reasonable control, or because we are concerned that your thinkmoney Card is being misused. Accordingly, we shall not be liable in any event that you are unable to withdraw funds, that a retailer refuses to accept your thinkmoney Card, or if we do not authorise a transaction, or if we cancel or suspend use of your thinkmoney Card. We shall not be liable for any loss you may suffer unless thinkmoney have been negligent or not acted in accordance with these Account Conditions or unless otherwise required by law. In the event that you do not use your thinkmoney Card with reasonable care in accordance with these terms and conditions or we find that you are using the thinkmoney Card fraudulently, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using this thinkmoney Card and to recover any monies owed as a result of your activities.

8. Changes to these Card Conditions

We may change these Card Conditions from time to time in the following circumstances by providing you with at least 2 months prior notice before any change takes effect:

(a) changes in market conditions or operating costs affecting its business;

(b) changes in technology;

(c) changes in payment methods;

(d) changes in relevant laws and regulatory requirements;

(e) changes in its systems capabilities.

You have the right to cancel Card Account before any change comes into effect without penalty. The up to date version of these Account Conditions is available on www.thinkmoney.co.uk or you may request a copy by contacting thinkmoney at the address or telephone number above. If you wish to close the Personal Account as a result of changes to these Card Conditions, we will cancel your thinkmoney Card upon expiry of the 14 day notice period stipulated in the thinkmoney Account Conditions. You will not be entitled to a refund of money you have already spent on transactions authorised or pending or of any fees for use of your thinkmoney Card before your thinkmoney Card is cancelled.

9. Fees

The following fees apply in addition to those set out in the thinkmoney Account Conditions:

(a) International Point Of Sale Transaction 2.0% per transaction;

(b) International ATM Transaction 2.0% per transaction; and

(c) Lost/Stolen/Damaged/Name change Replacement Fee £5.00 per replacement thinkmoney Card.

We will charge these fees to your thinkmoney Card Account as soon as they become payable. When you use your thinkmoney Card at an ATM, you may also be subject to applicable fees, surcharge rules and regulations applicable to the relevant ATM. If we decide to increase or impose any new fees, we will make such changes in accordance with section 8 of these Card Conditions. Authorisation will be requested for each transaction at the time of the transaction. In the unlikely event that, for any reason whatsoever, a transaction is completed when there are insufficient funds in your thinkmoney Card Account for that transaction (a “Shortfall”), the Shortfall shall be reimbursed by you unless it is due to an error on the part of the retailer where the thinkmoney Card was presented, in which case we may seek the Shortfall from the retailer. You agree that once we make this Shortfall known to you, you will repay the Shortfall amount to the extent that we do not seek the Shortfall from the retailer. We may charge the amount of the Shortfall against any funds which you may subsequently have in your thinkmoney Card Account. Until we are reimbursed the Shortfall, we may suspend your thinkmoney Card.

10. Notices

If we contact you in relation to your thinkmoney Card, for example, to notify you that Wirecard Card Solutions Limited have cancelled your thinkmoney Card, we will use the most recent contact details you have provided to thinkmoney. Any notices to be served under these Card Conditions shall be valid if served on thinkmoney at its head office, and if served on you, at your address or e mail address (if you have consented to receive information from thinkmoney electronically) last known to thinkmoney. Any notice will be deemed received and properly served on the next Business Day after an e mail is sent or two days after the date of posting of any letter. In proving the service of any notice, it will be sufficient to prove, in the case of a letter, that the letter was properly addressed, stamped and placed in the post and, in the case of an e mail, that the e mail was sent to the specified e mail address of the addressee. You agree to keep thinkmoney informed of any change to your name, phone number, e mail address or postal address. You agree that we may store any correspondence, including e mails, with you for future reference in order to satisfy our legal obligations. We will not be liable to you if your contact details have changed and you have not told thinkmoney.

11. Data protection

By using the thinkmoney Card you agree that Wirecard Card Solutions Limited and thinkmoney can use your personal information as set out in clause 8 of the Account Conditions.

12. Disputes with retailers

If you have any disputes about purchases made using your thinkmoney Card, you should settle these with the person or merchant that you bought the goods or services from. We are not responsible for the quality, safety, legality or any other aspect of any goods or services purchased with your thinkmoney Card. Remember that once you have used your thinkmoney Card to make a purchase Wirecard Card Solutions Limited cannot stop that transaction. In certain circumstances, you may be entitled to a refund in accordance with the Account Conditions.

13. Assignment

We may assign the benefit and burden of these Card Conditions at any time, on giving you at least 2 months’ prior written notice of this. If we do this, you authorise us to give the assignee any financial or other related information about you, but your rights under these Card Conditions will not be affected.

14. Governing law

14.1 These terms and conditions are governed by English law and the Courts of England and Wales shall have the non-exclusive jurisdiction for all matters arising under them.

14.2 If any provision (or part of a provision) of these Card Conditions is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions will remain in force.

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