Terms & Conditions
The thinkmoney Personal Account Service provides two client bank accounts (a "Salaries Account" and a "Card Account", together the "Accounts") in our name with The Royal Bank of Scotland plc (the "Bank"), dedicated to you.
In these Account Conditions:
"you" are the client who has asked us to open a Salaries Account and a Card Account (if you have joint Accounts, "you" includes both clients, together and separately); and references to "we" or "us" are to thinkmoney Limited, Pennington House, Carolina Way, South Langworthy Road, Salford Quays, M50 2ZY.
1. Opening the Accounts
1.1 You have selected our thinkmoney Personal Account Service, which is governed by these Account Conditions. We will need to carry out certain identification and address verification procedures, as required by the Bank, and we need you to supply certain documents to us, which we will forward to the Bank. The Bank may refuse at its discretion to open the Accounts.
1.2We will ask the Bank to open a Salaries Account and a Card Account as client accounts designated in your name.
1.3 Balances held in Accounts belong to you and are held on your behalf. If you have joint Accounts, the survivor of you will be entitled to the balances in the Accounts.
2. Operating the Accounts
2.1 You will arrange for your salary/income to be paid into the Salaries Account. If applicable, we will arrange the payments due in accordance with the payment programme agreed between Gregory Pennington Limited and your creditors, from the Salaries Account. We will also deduct from the Salaries Account the fees due to us under our Business Conditions (if applicable) and the fees due to us under these Account Conditions (as set out in clause 3 below).
2.2 If you create a standing order or we receive from a third party a Direct Debit payment request, we will make the authorised payments from the Salaries Account, provided there is a sufficient balance to meet the payments. If we stop a standing order or reject a payment because of insufficient funds, we will write and inform you. If we have to stop or reject a payment more than once, we may withdraw the Direct Debit and standing order facility and we will write to tell 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.
2.3 We will transfer from the Salaries Account to the Card Account each month the balance after payments and deductions have been made. You must tell us if you create a Direct Debit authority, as if we do not know about it, we cannot 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, we may transfer funds back to the Salaries Account from the Card Account, to make the payment.
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 card issued by Wirecard Card Solutions Ltd ("WDCS") 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. In any event, you will not be able to withdraw more than the balance on the Card Account. The amount actually spent by you using your card during the day will be transferred (at close of business that day or, if that day is not a business day, at close of business on the next succeeding business day) by us to WDCS.
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 base rate as altered from time to time. Details of the Bank's base 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 us of will take effect immediately. The rate of interest applicable to the Account is set out on our website.
2.7 The minimum withdrawal which can be made from an ATM using your card is £10. There is no minimum value of point-of sale transactions using your card.
2.8 We will notify you of specified events affecting your Salaries Account (e.g. the crediting of a salaries receipt). We will do this by SMS text messages to your mobile phone (please see clause 9 below for further details), or by other means we agree with you.
2.9 Any transaction on your Account will be regarded as authorised by you where you authorise the transaction by notifying us in writing (by letter or payment slip verified by a signature, SMS text message, email or via our online account management using your username and password) or by telephone (where calls may be recorded for security and monitoring purposes). Where permitted, Direct Debits may be collected from your Account by third parties and we will accept these requests as having been authorised by you. 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 Card transactions) may be withdrawn if you give notice to the payee (providing a copy of the notice to us) as long as notice was provided no later than 3pm on the business day before it was due to take place. We may charge you a fee if a transaction is revoked by you under this condition. All transactions will be processed in Sterling unless you notify us and we agree otherwise.
2.10 We may refuse to process your instructions (or any part of them) if:
a) we are concerned about security of your thinkmoney Account or we suspect your thinkmoney Account is being used in an unauthorised, illegal or fraudulent manner;
b) sufficient cleared funds are not held in your thinkmoney 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 thinkmoney Account in accordance with condition 2.12 below;
d) we 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.
2.11 In the unlikely event that, for any reason whatsoever, a transaction is completed when there are insufficient funds in your thinkmoney Account for that transaction (a "Shortfall"), the Shortfall shall be reimbursed by you immediately unless it is due to an error on the part of the payee, in which case we may seek the Shortfall from the payee.
You agree that once we make this Shortfall known to you, we may charge you for the Shortfall amount to the extent that we do not seek the Shortfall from the payee. We may charge the amount of the Shortfall against any funds which you may subsequently have in any of your thinkmoney Accounts. Until we are reimbursed the Shortfall, we may suspend your thinkmoney Card.
2.12 Payments made into your Account will be processed as follows:
Where cash is paid into your Account at a branch of the Bank it will be credited to your Account and available to use the next business day or within 3 business days if paid in at a branch of the National Westminster Bank. You may send to us or pay in at a branch of the Bank a UK cheque payable to you for payment into the Salaries Account. The amount of the cheque will be available to use after 8 business days provided we do not receive notice of nonpayment. We may, at our 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 Account, we will collect this and not negotiate it with the payer's bank. The timescales for it being credited to your 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 Account via BACS or CHAPS, the funds will be credited to your Account on the working day we receive them.
2.13 Payments made out of your Account will be processed as follows:
Where you authorise us before 5pm to send monies under £5000 or before 3pm for monies over £5000 to a third party via BACS, this should be credited to the destination account within 4 working days. Any authorisations received after the above times will be treated as being received by Us on the next working day.
Where you authorise us before 1pm 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 1pm should be credited to the destination account on the next working day. A fee of £20 is payable for a transfer via CHAPS. Where you authorise us to make a payment from your Account to a recipient outside of the UK, International timescales will apply. These are subject to delays depending on the country of destination and service required. We aim, but cannot guarantee, 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 us before 5pm to send monies under £5000 (or Sterling equivalent) or before 3pm for monies over £5000 (or Sterling equivalent) to a third party, this should be credited to a destination account in Western Europe or USA within 5 working days and to the rest of the World within 10 working 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 us before 5pm to send monies under £5000 (or Sterling equivalent) or before 3pm for monies over £5000 (or Sterling equivalent) to a third party, this should be credited to a destination account in Western Europe or USA within 3 working days and to the rest of the World within 7 working days.
c) Any authorisations received after the above time limits will be treated as being received by us on the next working day. The above payment timescales in clause 2.12 and 2.13 will always be subject to our compliance procedures which may result in the payments taking longer to process.
3. Our Fees
3.1 You will pay us an Account operation fee (plus Value Added Tax, if applicable). The amount of this fee is notified by us to you when opening the Account. You will also pay us a replacement card fee (plus, in each case, Value Added Tax, if applicable) where necessary. The amounts of these fees are set out in separate correspondence sent by us to you.
3.2 We will charge these fees to the Salaries Account. The fees may be revised from time to time and details will be sent to you at least 2 months before any increases or new fees come into effect.
4. thinkmoney Card Conditions
4.1 We will give you a copy of the thinkmoney Card Conditions. You must read the thinkmoney Card Conditions and you agree with us to comply with them.
4.2 We, WDCS and the Bank do not accept any liability if at any time you are unable to withdraw funds by the use of the card. Please call us immediately if you have any difficulty in using the card and we will do what we can to assist.
5. Loss or Misuse
5.1 Your PIN number is confidential and must not be disclosed to anyone. If your card is lost or stolen or you suspect that someone knows the PIN, you must immediately call us on 08444 155 155.
5.2 If your card is misused before you tell us of its loss or theft or that someone else knows the PIN, you will only have to pay up to £50 for any misuse, unless you have acted fraudulently or without reasonable care.
5.3 You authorise us to give to any appropriate third party any relevant information in connection with the loss, theft or possible misuse of the card or PIN.
5.4 If the card is misused by someone who has it with yourpermission, 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 this agreement;
b) we are responsible for a transaction which was incorrectly executed after you had notified us 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 thinkmoney 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) we 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 immediately call us on 08444 155 155. 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 thinkmoney Card or PIN or password secure), we will not refund the transaction amount and may charge you a fee of up to £50 for any loss we suffer because of the use of your Account.
6. Changes to the Account Conditions
6.1 To the extent that these Account Conditions reflect the thinkmoney Card Conditions or obligations imposed by the Bank, we may change these Account Conditions at any time to reflect changes required by WDCS to the thinkmoney Card Conditions or changes to the obligations imposed by the Bank. We will give you as long a notice period as is practicable depending on the amount of notice we are given by WDCS or the Bank. We will make every effort to provide at least 2 months' written notice of any changes to your detriment.
6.2 If WDCS requires three or more changes during any 12-month period, WDCS will make reasonable efforts to cooperate with us in creating a copy of the revised thinkmoney Card Conditions and we will give you that copy and a copy of these Account Conditions as revised. If there are three or more changes to the obligations imposed by the Bank in any 12-month period, we will give you a copy of these Account Conditions as revised.
6.3 We may vary these Account Conditions from time to time and will write to give you at least 2 months' prior notice of any changes to your detriment. Otherwise we will write to you within 30 days of any changes having been made. You may request a copy of these terms and conditions at any time by contacting us.
7.1 You have a right to cancel this Agreement at any time within 14 calendar days of receiving these Account Conditions (which will be deemed to be 48 hours after the time of posting). You can do this by calling 08444 155 155 and stating that you wish to cancel. We will then refund to you from cleared funds any fees already paid to us. If you instruct us to make several payments and/or transactions during this period, we may at our discretion retain all or a proportion of the fees paid to us.
7.2 We may, without giving a reason, refuse 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, if you are in breach of these Account Conditions or the thinkmoney Card Conditions, 7 days' written notice. You will cease to be able to use your card on the expiry of the notice and we will arrange to return to you any balance on the Salaries Account or the Card Account immediately after the expiry of the notice. You will need to contact us urgently to let us know if you would like us to send you a cheque or make arrangements for an encashment at your local branch of the Bank.
7.3 We may at any time suspend, restrict or cancel your thinkmoney Account for reasons relating to the following:
a) we are concerned about security of your Account or thinkmoney Cards we have issued to you;
b) we suspect your Account is being used in an unauthorized or fraudulent manner;
c) we need to do so to comply with the law;
d) you were not entitled to open an Account;
If we do this, we will tell you as soon as we can or are permitted to do so after we have taken these steps.
7.4 If you wish to stop the thinkmoney Personal Account Service, you may do so on giving to us 2 weeks' written notice. At the end of that period you will cease to be able to use your Card and (if applicable) you must agree with us the manner in which you will make monthly payments under the Business Conditions to enable Gregory Pennington Limited to operate the payment programme.
7.5 Once the thinkmoney Personal Account Service 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 We are the data controller of your Accounts.
8.2 Where we refer to "Group" in this Condition 8 we are referring to the ThinkMoney group of companies.
8.3 Your information may be held on a Group database and used by us and any Group company for the purposes set out in this clause. Your information includes any information which we or any Group company holds, now or at any time in the future and which comes from, or relates to:
(i) application forms or other dealings with any Group company;
(ii) third parties, such as credit reference agencies and parties associated with you;
(iii) your services from any Group company.
8.4 We and other Group companies will use, analyse and assess your information to maintain and develop our relationships with you. This will include using it for the following purposes:
(i) considering any applications made by you and helping us make credit-related decisions about you;
(ii) operating and administering the services we, and/or other Group companies supply;
(iii) servicing your relationships with Group companies;
(iv) financial risk assessment, money laundering checks, compliance and regulatory reporting and fraud prevention;
(v) helping us, other Group Companies and the insurance underwriters of any insurance products offered by us 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;
(vi) helping us and other Group companies to identify products and services which may interest you (unless you have asked us not to), and
(vii) helping us and other Group companies to understand and develop our respective businesses, including new and innovative products and services.
8.5 For operational uses such as in (i), (ii), (iii), (iv) and (v) of Condition 8.4, we may link your information between your accounts and other products and services you maintain with us. We may also link your information with that of others with whom you have a financial connection. We will not use the links for marketing purposes without your consent.
8.6 During the time that you have your account, the way we look at, record and use information about you may change. In most cases these changes will result from improvements in technology and we believe that you will be comfortable with them. Where we feel the changes may not be obvious to you, we will tell you before we introduce them. When you open your Accounts, you are agreeing that, by continuing to maintain your Accounts for at least 60 days after we have notified you of a change to the way we may use your information, you will be happy with that change - unless you write to us at the following address, telling us that you do not wish your information to be used in this way: thinkmoney Limited, Pennington House, Carolina Way, South Langworthy Road, Salford Quays, M50 2ZY.
8.7 We do not disclose your information outside the Group except:
(i) for operational reasons described in (i), (ii), (iii), (iv) and (v) of Condition 8.4;
(ii) where we have your consent;
(iii) to the Bank, with whom the Accounts are maintained, for the sole purpose of running your Accounts;
(iv) where we are required or permitted to do so by law;
(v) to persons to whom we may transfer rights and obligations under our agreement with you;
(vi) to any persons, including insurers, who provide a service to us, who have agreed to keep your information strictly confidential;
(vii) to any persons, including insurers and lenders, who supply benefits or services to you under or in connection with your Accounts.
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 us in other countries. If this happens, we will ensure that anyone to whom your information passes agrees to treat your information with the same level of protection as if we were dealing with it.
8.9 You have the right of access to your personal records held on our files by written request to the address in Condition 8.6 and on payment of a fee to be notified to you.
9. Account updates by SMS text messaging
9.1 The terms contained in this Condition 9 only apply to you if you have registered with us to receive account information on your Accounts by SMS text messaging (the "Text Service").
9.2 When you register for the Text Service we will provide system generated Account updates by SMS text message whenever credits are applied to your Card Account in cleared funds. We 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 us immediately on 08444 155 155 if:
(i) your mobile telephone is lost or stolen;
(ii) you know or suspect that someone else knows your SIM card personal identification number or otherwise has access to your SMS text messages; or
(iii) 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 we will make reasonable efforts to provide the Text Service, we will not be liable for any failure to provide the Text Service due to any reason beyond our reasonable control, including any suspension of either service resulting from maintenance and upgrades to our 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 writing to us at the address in Condition 8.6 or by calling us on 08444 155 155.
9.8 We may suspend, withdraw or restrict the use of the Text Service where we consider it appropriate for our or your protection. We will inform you of such suspension, withdrawal or restriction as soon as practicable. We 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, we reserve the right to introduce a charge in the future, but we will only do so by giving you 2 months' notice in writing (including by email or SMS text message). After the expiry of such notice you hereby authorise us to debit your Account with such charges for providing the Text Service.
9.10 By requesting and using the Text Service you accept that:
(i) the text messages may contain information about you and your Accounts which is confidential and they are sent at your own risk; and
(ii) messages sent by the Text Service are not secure and once the message has been sent we cannot be held responsible if for any reason it fails to arrive, or it arrives incomplete or in any way different from the message we sent or if the message has been seen by an unauthorised person.
10. Our liability
We cannot guarantee that we 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 our reasonable control, or because we are concerned that your thinkmoney Account is being misused or due to us being provided with incorrect information. Accordingly, we shall not be liable in any event that a payee does not accept the transaction or if we have reasonable grounds to cancel or suspend use of your thinkmoney Account. Unless otherwise required by law, we shall not be liable for any direct, indirect or consequential loss or damage You may suffer as a result of your total or partial inability to use your thinkmoney Account, or the use of your thinkmoney Account by any third party. In the event that you do not use Your thinkmoney Account with reasonable care in accordance with these terms and conditions or we discover or are notified that you are using the thinkmoney Account fraudulently, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using the thinkmoney Account and to recover any monies owed as a result of your activities.
We may arrange for another person to take over our rights and duties under these Account Conditions and you authorise us to give that person any financial or other related information about you.
Any notices to be served under these Account Conditions shall be valid if served on us at our head office, and if served on you, at your address last known to us. Any notice shall be deemed to have been served if sent in the ordinary course of post, 48 hours after posting. If any provision (or part of a provision) of these terms and 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.
13.1 The thinkmoney Personal Account Service is managed by us. If you are unhappy in any way with the thinkmoney Personal Account Service or the way it is managed, tell us by calling 08444 155 155. Your complaint will be dealt with quickly and fairly.
13.2 You may take unresolved complaints to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London, E14 9SR; telephone: 0845 080 1800; website: www.financialombudsman.org.uk.
All communications from us to you will be in English. With your thinkmoney Account, you will receive a monthly statement from the Bank showing all credits and debits to your 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. If you have an enquiry relating to your thinkmoney Account, you can call your Money Manager on 08444 155 155. 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. You can also write to us at thinkmoney Limited, Pennington House, Carolina Way, South Langworthy Road, Salford Quays, M50 2ZY, quoting your reference number.
15. Governing Law
These Account Conditions are governed by English law and the Courts of England and Wales shall have exclusive jurisdiction for all matters arising under them.
These terms and conditions apply to Your thinkmoney Card. You must read them carefully as they apply in conjunction with Your thinkmoney Account Conditions ("Account Conditions"). By using the thinkmoney Card You are agreeing to these terms and conditions.
In these terms and conditions "You" or "Your" means the named thinkmoney Cardholder(s) and the authorised user(s) of the thinkmoney Card, and "We", "Us" or "Our" means Wirecard Card Solutions Ltd or thinkmoney Limited, acting on its behalf. The "Website" means Our website, located at www.thinkmoney.co.uk. "Account" means the thinkmoney Card Account in which Your funds are held.
1.Your thinkmoney Debit MasterCard®
Your thinkmoney Card is issued by Wirecard Card Solutions Ltd, Floor 2, Grainger Chambers, 3-5 Hood Street, Newcastle upon Tyne, NE1 6JQ, which is authorised by the Financial Services Authority to conduct electronic money service activities under Electronic Money Regulations 2011 (Ref:900051). 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. We 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 Ltd 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 and 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 is a debit card that 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 Us, 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 will be declined. The daily withdrawal limit is £450.00 per calendar day. You can obtain detailed instructions on how to use Your thinkmoney Card by calling thinkmoney Limited on 08444 155 155.
4. Authorising transactions
Subject to the features of Your thinkmoney Card, the authorisation of a transaction can include authorising any single transaction, a series or 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;
(i) 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:
a) entering Your PIN or providing any other security code;
b) signing a sales voucher;
c) providing the thinkmoney Card details and/or providing
any other details as requested;
d) 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
(ii) 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:
(i) for purchases and ATM transactions, at the time We receive the transaction instruction from the merchant acquirer or ATM operator;
(ii) for other transactions which are communicated directly to Us, at the time You ask Us to complete the transaction.
5. Cancellation and expiry of Your thinkmoney Card
This agreement will continue indefinitely unless terminated in accordance with the Account Conditions. We may also cancel this agreement for any reason by giving You at least 2 months' notice. If Your thinkmoney Card Account is cancelled, We will immediately block Your thinkmoney Card 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, if We have any other security concerns or We 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.
6. Keeping Your thinkmoney 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 on-screen instructions. We recommend that You check the balance of Your thinkmoney Card Account regularly. You can do this by calling thinkmoney on 08444 155 155 or by checking Your statements sent to You monthly by The Royal Bank of Scotland plc. You must tell Us immediately if You notice transactions that You do not recognise. For security purposes, You must notify Us 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.
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 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. Unless otherwise required by law, We shall not be liable for any direct, indirect or consequential loss or damage You may suffer as a result of Your total or partial inability to use Your thinkmoney Card, or the use of Your thinkmoney Card by any third party. 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 terms and conditions
We may change these terms and conditions at any time. The up-to-date version of these terms and conditions will always be made available on the Website. If We think that a change is material and to Your detriment We will inform You in writing via email, SMS text message or post at least 2 months before making the change, unless a more immediate change is required. Otherwise, We will notify You of any changes within 30 days of making any material change. You may request a copy of these terms and conditions at any time by contacting Us. If You wish to stop the thinkmoney Personal Account Service as a result of changes to these terms and conditions, We will cancel Your thinkmoney Card upon expiry of the 2-week 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.
The following fees apply in addition to those set out in the thinkmoney Account Conditions:
International Point Of Sale Transaction - 2.0% per transaction
International ATM Transaction - 2.0% per transaction
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 tell You at least 2 months before any changes take effect in accordance with section 10 of these terms and 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, We may charge You for 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. Your details
You must let thinkmoney Limited know as soon as possible if You change name, address, phone number or email address. If We contact You in relation to Your thinkmoney Card, for example, to notify You that We have cancelled Your thinkmoney Card, We will use the most recent contact details You have provided to thinkmoney Limited. Any correspondence that We issue will be treated as being received by You as soon as it is sent by Us. We will not be liable to You if Your contact details have changed and You have not told thinkmoney Limited.
11. Data protection
By using the thinkmoney Card You agree that We can use Your personal information as set out in 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 We cannot stop that transaction. In certain circumstances, You may be entitled to a refund in accordance with Our Account Conditions.
We may assign the benefit and burden of these terms and conditions at any time, on giving You at least 2 months' prior written notice of this. If We do this, Your rights will not be affected.
14. Governing law
These terms and conditions are governed by English law and the Courts of England and Wales shall have exclusive jurisdiction for all matters arising under them.