Terms & Conditions

This website (or the “Website”) meaning www.fairfx.com/business, any associated domain or mobile app (the “App”) is operated and owned by FairFX [FairFX Plc, 3rd Floor, Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ] (“FairFX”). You can contact us at corporate@fairfx.com.

Use and access to this Website and App is provided on the basis of the following terms and conditions.

1. FairFX may from time to time and without first letting you know:

1.1 Make such changes to the content of the Website and App and/or the products or services offered by FairFX through the Website as FairFX (in its absolute discretion) considers appropriate.

1.2 Withdraw such products and services as FairFX (in its absolute discretion) considers appropriate without notice.

1.3 Terminate your access or use of the Website for any breach of these terms and conditions or for any breach of law or regulation or for any reason FairFX considers appropriate in order to comply with anti-money laundering regulations. FairFX reserves the right to use various procedures to authenticate each transaction including but not limited to identity checks. FairFX reserves the right to decline to continue to process any part of your order at any time.

1.4 Discontinue the operation of the Website and App.

2. Permitted Access to the Website

2.1 You should not use the Website and App from any country where accessing or using the Website and App or any of the information, products or services on it is prohibited by law. This Website or App does not constitute any invitation or solicitation by FairFX to any person to use any such information, products or services in countries where to do so is prohibited by law.

2.2 You are authorised by your Employer to use the Website and App and place orders on your Employer’s behalf.

3. Reliance on Information Posted

3.1 FairFX shall use its reasonable endeavours to ensure that any dated information contained or reproduced on the Website and App is up to date at the stated date of its publication only.

4. Intellectual Property

4.1 All intellectual property and materials comprising or contained in the Website or App are owned or licensed by FairFX unless otherwise expressly stated.

5. Links to other sites

5.1 This Website and App contains links to third party websites. Such links are provided to you for your convenience only.

5.2 FairFX has no control over any material which has been published or contained on such third party websites. FairFX does not warrant the content or accuracy of such third party websites nor does FairFX accept responsibility or liability in relation to the content or products offered by or through such third party websites.

6. Limitations on liability

6.1 All content shown on the Website or App (and all products and services provided by it) are provided and made available without any warranties, conditions or guarantees given by FairFX. All such warranties, conditions or guarantees which would otherwise be implied by law are excluded to the fullest extent permitted by law. In particular, FairFX does not warrant the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any services or products available through the Website and App.

6.2 FairFX uses reasonable skill and care in providing its products and services to you. However (to the maximum extent permitted by law) FairFX is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) arising out of:

6.2.1 Your use, delay or inability to use the Website or App.

6.2.2 Any inability to perform any of FairFX’s obligations due to failure of any technical or computer systems.

6.2.3 Any reasons beyond FairFX’s reasonable control. This will include (amongst other things) war, terrorism, government action, natural disaster, and industrial disputes.

6.2.4 Any loss resulting from third party misuse, including but not limited to email intercept, stolen identity, fraud.

6.2.5 Any damage to your computer equipment as a result of using the Website and App or any products or services provided from it.

6.2.6 Any change in foreign currency rates which may occur from time to time.

6.3 FairFX is not liable to you for any loss of profit, loss of use, indirect, or consequential losses, claims or other damages suffered or incurred by you from your use of the Website and App or the products or services offered however caused.

6.4 FairFX’s maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to a refund equivalent to any money you have paid to FairFX to acquire foreign currency.

6.5 FairFX does not warrant that the Website or App is free of viruses or of other material which is malicious or technological harmful. FairFX is not liable for any viruses or other technologically harmful material that may affect your computer equipment, computer programs or other material resulting from your use of the Website.

6.6 The disclaimers and limitations of liability in these terms and conditions shall not apply to any damages arising from death or personal injury caused by the negligence of FairFX or any of its employees or agents or for fraud.

6.7 If any provisions of these terms and conditions including these disclaimers and limitations shall be unlawful or unenforceable then such provisions shall fall away and shall not affect the validity and enforceability of the remaining terms. Your statutory rights remain unaffected.

7. Warranties and Representations

You warrant and represent to us on a continuing basis that:

7.1 All information that you supply to us is complete, true, accurate and not misleading in any material respect.

7.2 You or your employer is acting as principal and not as another party's agent or representative.

7.3 You or your employer is not prevented by any legal disability or subject to any law or regulation from performing this Agreement and any related transactions contemplated by it.

7.4 You and your employer comply with all relevant laws, regulations, exchange requirements and registration requirements.

7.5 You will take risk in and ownership of any purchased currency upon payment of the full amount of the sold currency as directed by your instructions contained in the relevant order.

8. Privacy and data protection

8.1 FairFX processes information about you in accordance with its privacy policy. By using the website you consent to such processing and you confirm that all data you provide is accurate.

9. Our Contact Details – You can contact us:

9.1 By phone on 020 7778 9364 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.

9.2 By email on corporate@fairfx.com.

9.3 By post at FairFX Plc, 3rd Floor, Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ

10. Complaints

10.1 If you are unhappy in any way with your FairFX account, please tell us so we can try to resolve the situation. You can complain via email, post or by calling 020 7778 9364 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.

10.2 We will try to resolve any complaints you have about your payment instrument or the service we provide to you within 15 business days of receiving your complaint and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).

10.3 You can request our Complaints Procedure via email, phone or by visiting our Website.

10.4 If we are not able to resolve the complaint to your satisfaction and you are eligible, you may be able to refer it to the Financial Ombudsman Service.

10.5 The Financial Ombudsman Service is a free, independent service which might be able to settle a complaint between you and us. Their contact details are: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR; phone 0300 123 9 123, website www.financial-ombudsman.org.uk.

Governing Law and Changes to These Terms and Conditions

11. All use of the Website or App and these terms and conditions are governed by the laws of England and Wales.

12. All disputes arising out of the use of the Website or App and/or any services or products provided by FairFX or any dispute relating to these terms and conditions shall be resolved by the Courts of England and Wales.

13. Changes to these terms and conditions will be communicated to you using the email or postal address that you have provided to us. Changes to your disadvantage will be communicated to you at least 60 days before the change is effective. At any time up to 60 days from the date of this notification, you may close your FairFX account without incurring any extra charges. Any other changes can be made immediately and communicated within 30 days. Please keep your contact details current. When we send correspondence to this email or postal address, we will assume receipt by you.

14. We 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 the applicable exchange rate was at the time of the transaction by contacting our Corporate Accounts Team.

Additional Terms and Conditions

Provisions relating to placing of the order and when the contract between you and FairFX is formed.

15. Orders through the Website must only be placed by individuals over the age of 18.

16. By placing an order you confirm that you are authorised by your company or employer to do so.

17. Please follow the steps on the screen in order to place an order. FairFX reserves the right to ask for further information to process your order.

18. FairFX will use various procedures to authenticate each transaction for the purposes of law and regulations including anti-money laundering regulations. FairFX reserves the right to decline to continue to process any part of your order at any time.

19. You will be able to correct the details of your order at any time up until you press the "Confirm" button. After that point you will no longer be able to correct details on your order, so please make sure they are correct at that time.

20. Once you have placed your order for currency on the Website by pressing the "Confirm" button this will authorise FairFX to action your order. You will not be allowed to cancel it subject to the cancellation policy set out in section 21. Should you wish to make any amendments to your order, FairFX will use its reasonable endeavours to accommodate your needs. If you wish to amend your order please send an e-mail to corporate@fairfx.com. Any such amendments will be subject to the applicable foreign exchange rates. If FairFX agree to amend your order you will receive an email to confirm this. FairFX is under no obligation to accept any such amendments to your order and FairFX accepts no liability or responsibility if it decides not to do so.

21. You may cancel your order by providing FairFX with written notice of cancellation, by email to corporate@fairfx.com, prior to delivery of your order. FairFX will have purchased your order at a foreign exchange rate. In the case of cancellation, you will receive a refund at the foreign exchange rate prevailing at the time of cancellation. This may be different to the foreign exchange rate at the time of your order as exchange rates fluctuate.

22. All orders are subject to acceptance by FairFX and FairFX will confirm such acceptance to you by sending you an email that confirms that the order has been accepted. The contract between FairFX and you will only be formed once FairFX sends you the confirmation email that your order has been accepted. Until that time there will be no binding arrangement for FairFX to supply you with any currency or other services. You should print and retain a copy of the confirmation email for your records.

Price, Availability and Delivery

23. The price payable for currency that you order will be shown on the confirmation screen and is only valid for a short period of time as foreign exchange rates continually fluctuate. If you do not submit your order immediately after you enter the confirmation screen, the price may change and you will need to enter the screen again to see the updated price.

24. FairFX have the right to revise and amend these terms and conditions from time to time. You will be subject to the terms and conditions in force at the time you placed an order with FairFX.

25. FairFX is entitled to refuse, withdraw or cancel your order at anytime, for any reason.

26. Your money is held with FairFX in a designated client account. This means that your Employer is the beneficial owner of this money until such point in time as we incur any costs, losses or liabilities in connection with or arising out of your Contract(s) including, without limit, liabilities we incur with third party currency dealers, exchanges, brokers, banks or similar entities. Then we will become the beneficial owner of that proportion of the money, held as a Margin, equal to our costs, losses, or liabilities, without notice or demand by us. We may also offset any Margin(s) or other monies we are holding in respect of any one of your Contracts, against any costs, losses and/or liabilities that we incur in connection with or arising out of any other Contract you have with us.

Anti-money laundering policies

27. FairFX is registered with and regulated by HM Customs & Excise (registration 12236741) as required under The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. Our staff are fully conversant with anti-money laundering and countering terrorist financing guidelines and are aware of their responsibilities in the monitoring and reporting of any actions that raise suspicion or give cause for concern.

28. FairFX reserves the right to perform identity checks in accordance with the Terms and Conditions on all individuals who place an order on the website. For further information on these identity checks please contact corporate@fairfx.com.

29. FairFX reserves the right at all times to refuse to process any currency order or terminate any contract which it believes at its sole discretion, is connected in any manner to any unlawful or illegal purpose. We have a legal obligation to report to any such suspicious transactions to relevant law enforcement agencies

30. FairFX is obliged by law to monitor and report any unusual or suspicious transactions of any size taking place where we have reasons to believe the money is derived from unlawful or illegal activity.

31. There is a statutory obligation on all FairFX employees and their agents to report suspicious transactions to UK law enforcement agencies. Where any such report is made, FairFX accepts no liability for any delay in transmission or confiscation of the funds.

These terms and conditions apply to your Prepaid Card. You must read them carefully. In these terms and conditions "you" means the named Cardholder and the authorised user of the FairFX Prepaid Corporate Card. "Card" means the FairFX Prepaid Corporate Card, except where specifically stated. "Employer" means the organization you work for who has asked us to issue you with a Card

1. Your Prepaid Card

1.1 The Card is issued by Wirecard Card Solutions Ltd, Portland House, New Bridge Street, Newcastle Upon Tyne and Wear, NE1 8AN, which is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051) and an issuer of e-money. Your Prepaid Card is the property of Wirecard Card Solutions Ltd and is not transferable to anyone else.

1.2 You can use the Card at any location that displays the Mastercard Acceptance Mark, including shops, restaurants, online or on the telephone. Your PIN will allow you access to ATMs, Chip & PIN retailers and you can also use your Card overseas. Before using the Card you need to make sure there are enough funds loaded on it. Your Card is not a credit card and is not connected to a bank account. Your Card is an electronic money (e-money) device. Neither you nor your Employer will receive any interest on any funds loaded on your Card.

2. Applying for and activating your Card

To receive a Card you must be at least 18 years old. We may require evidence of who you are and of your address. You must agree to provide your Employer with this information so that we can issue you with a Card. We may ask you to provide some additional documentary evidence to prove this and/or we may carry out checks electronically. You must sign the signature strip on the reverse of your Card as soon as it is received. You will also need to activate your Card before you will be able to use it. Details of card activation are included with the letter you receive with your Card. You will also be given a PIN for use with your Card, which can be changed at most UK ATMs to a more memorable number. By using the Card and using the Website and App you are agreeing to these terms and conditions.

3. Loading Your Card

Once your Card has been activated, your Employer will be able to load and unload your card and to view any transactions made on the card. We reserve the right not to accept any particular loading transaction. If a significant amount of money is loaded onto your Card you must ensure that you understand and accept the risks of doing so. See ‘Section 16 - Compensation’ for more information.

4. Using your Card

4.1 Detailed instructions on how to use your Card are found on the Website. You will need to follow these instructions when using your Card.

4.2 We will deduct the value of your transactions from the balance on your Card as soon as they are made. We will also deduct any applicable fees as soon as they are payable. See below for details of all fees associated with the card. If sufficient funds are not loaded on your Card at the time of a transaction to cover the amount of the transaction and the fees, the transaction will be declined.

5. Cancellation and Expiry of Your Card

5.1 If you wish to cancel your Card, you must do so by advising your Employer. If your Card is cancelled, we will immediately block your Card so it cannot be used.

5.2 If you are no longer working for your Employer, you must cancel your Card by advising your Employer.

5.3 If your Card is cancelled, you must destroy it securely by cutting it up, making a clear cut directly through the Card Chip and signature strip.

5.4 You will not be entitled to a refund of money you have already spent on transactions authorised or pending or any fees for use of the Card before the Card is cancelled or expires. If you cancel your Card, once all transactions and fees have been deducted we will arrange for any unused funds to be refunded to your Employer. You will have no right to receive a refund yourself.

5.5 We may also cancel your Card immediately if we suspect fraud or misuse of your 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 can after we have taken these steps.

5.6 When your card expires it will no longer be valid and you will no longer be able to use it. We will arrange for the balance of funds to be transferred to a new Card, after deducting any outstanding transactions and fees. However, we will not issue a new Card if your Employer tells us in writing at least 28 days before the date your card expires that they do not wish us to replace the card.

6. Keeping Your Card Secure

6.1 You must keep your Card safe and not let anyone else use it. If someone else uses your card before you have advised that it is lost or stolen, the maximum amount that you or your Employer will be held liable for is £35.00 provided that you have not acted fraudulently or without reasonable care.

6.2 You are issued with a PIN. You must immediately memorise it and destroy the notification. You must keep your PIN secret at all times. We recommend that you check the balance on your Card regularly online at the Website (www.fairfx.com/business) or via the FairFX Corporate App.

6.3 If you lose your Card, it is stolen or you suspect that it has been used by someone other than you, you must tell us immediately by calling us on our 24 hour lost and stolen helpline +44(0)1753 775961 so that we can cancel your Card. If you ask us to do so, we may ask the police to investigate any disputed transaction or misuse of your Card. We may need more information and assistance from you.

7. Our Liability

7.1 We cannot guarantee that a retailer will accept your Card or that we will necessarily authorise any particular transaction because of a system problem, events outside our reasonable control, or because we are concerned about misuse of your Card. Accordingly, we shall not be liable if a retailer refuses to accept your Card, if we do not authorise a transaction, or if we cancel or suspend use of your Card.

7.2 Unless otherwise required by law, we shall not be liable for any direct or indirect loss or damage you may suffer as a result of your total or partial use of, or inability to use, your Card, or as a result of the use of your Card by any third party.

7.3 If you do not use your Card in accordance with these terms and conditions, or if we find that you are using your Corporate Card fraudulently, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using it and to recover any monies owed as a result of your activities

8. Your right to a refund

You may not request a refund of any funds left on your Card. The balance on your card remains the property of your Employer and only they can request a refund.

9. The fees

FairFX Card Issue Fee £10.00 +VAT per card
Maintenance & Support £50.00 +VAT annual platform fee per account
Card to Card Transfer FREE
UK Point of Sale Transaction Fee
  • Sterling Card - FREE
  • US Dollar Card - 1.75% when spending out of currency
  • Euro Card - 1.75% when spending out of currency
International Point of Sale Transaction Fee
  • Sterling Card - 1.5% of transaction value
  • US Dollar Card - Free when spending in currency and 1.75% of transaction value when spending out of currency
  • Euro Card - Free when spending in currency and 1.75% of transaction value when spending out of currency
UK ATM Transaction Fee
  • Sterling Card - £1.50
  • US Dollar Card - $2.50 and 1.75% of transaction value
  • Euro Card - €2.00 and 1.75% transaction value
Please note that some ATMs may apply an additional surcharge. This is outside of the control of FairFX and you will be notified before authorising the transaction
International ATM Transaction Fee
  • Sterling Card - £1.50 and 1.5% of the transaction value
  • US Dollar Card - $2.50 when charged in currency. $2.50 and 1.75% of transaction value when spending out of currency
  • Euro Card - €2.00 when charged in currency. €2.00 and 1.75% transaction value when spending out of currency
Over the Counter Bank Branch Withdrawal Fee 1.5% of the transaction value. Subject to a minimum fee of £5.00 / €6.25 / $7.50
Loading fee
  • Sterling Card - FREE
  • US Dollar Card - FREE to load using sterling, subject to FairFX exchange rate. 1% load fee when loaded with US Dollars
  • Euro Card - FREE to load using sterling, subject to FairFX exchange rate. 1% load fee when loaded with Euros
Customer Service Telephone Enquiries Standard call charges apply.
Lost and Stolen Card Replacement Fee FREE
Dispute Administration Fee £10.00 per disputed transaction (this may be refunded in certain circumstances).
Refund Fee on Active cards
  • €10.00 for the Euro card
  • $10.00 for the US Dollar card
  • £10.00 for the Everywhere card
Currency is exchanged at the prevailing rate at the time of the refund.

If we decide to increase or impose any new fees, we will tell your Employer by email or post, at least 60 days before any changes take effect. In the unlikely event, for any reason whatsoever, a transaction is authorised when there are insufficient funds on the Card for that transaction (a shortfall), the shortfall shall be reimbursed by your Employer. If it is due to an error on the part of the retailer we may seek the shortfall from the retailer.

You agree that once we make this shortfall known to you, we may charge for the shortfall amount. Until the employer reimburses the shortfall amount, we may suspend your Card.

11. Your details

You must let your Employer know as soon as possible by email, or in writing if you change your name, address, phone number or email address who will advise FairFX. Please be aware that you may have to provide supporting documentation before we are able to make the change. If we contact you in relation to your Card, for example, to notify you that we have cancelled your Card, we will use the most recent contact details provided to us. Any email to you will be treated as being received 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 us.

12. Data Protection

FairFX processes information about you in accordance with its privacy policy. By using the website, you consent to such processing and you confirm that all data you provide is accurate.

13. Disputes with Retailers

13.1 If you have any disputes about purchases or the amount you have been charged by the company or person you bought goods or services from you should settle these with the company or person involved. We are not responsible the quality, safety, legality or any other aspect for any goods or services purchased with your Card.

13.2 Once you have used your Card to make a purchase we cannot stop that transaction.

13.3 If you suspect that your Card has been compromised or used fraudulently we may be able to dispute the items on your behalf. We will under no circumstances be liable for transactions if your card has been knowingly used by another person or you have disclosed your PIN to anyone.

13.4 FairFX will not be liable for any transactions made when a card has been reloaded during ongoing disputed transactions. All expenditure should be accounted for before a Card is re-charged with funds.

13.5 Should you wish to dispute a transaction you need to inform FairFX as soon as possible. FairFX will not be able to assist with a dispute should the transaction be greater than 120 days old.

13.6 Only the named cardholder should use the FairFX Card provided to them. If you have been issued with a card that is not in your name you will not able to raise a chargeback to claim back funds in the event of a dispute with a merchant or fraudulent transaction.

14. Communication

14.1 By phone on 020 7778 9364 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.

14.2 By email on corporate@fairfx.com

14.3 By post at FairFX Plc, 3rd Floor, Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ

15. Complaints

15.1 If you are unhappy in any way with your FairFX account, please tell us so we can try to resolve the situation. You can complain via email, post or by calling 020 7778 9364 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.

15.2 We will try to resolve any complaints you have about your payment instrument or the service we provide to you within 15 business days of receiving your complaint and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).

15.3 You can request our Complaints Procedure via email, phone or by visiting our Website.

15.4 If we are not able to resolve the complaint to your satisfaction and you are eligible, you may be able to refer it to the Financial Ombudsman Service.

15.5 The Financial Ombudsman Service is a free, independent service which might be able to settle a complaint between you and us. Their contact details are: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR; phone 0300 123 9 123, website www.financial-ombudsman.org.uk.

16. Compensation

Although the product is regulated by the Financial Conduct Authority (FCA), the Financial Services Compensation Scheme (FSCS) does not apply to this product. No other compensation scheme exists to cover losses with this product. This means that in the event that Wirecard Card Solutions Ltd becomes insolvent, the card may become valueless and unusable, and you may lose your money. By using this product, you confirm that understand and accept these risks.

17. Assignment

We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you at least 60 days prior notice of this. If we do this, your rights will not be affected.

18. Fund Protection

As a responsible e-money issuer, Wirecard Card Solutions Ltd ensures that once it has received funds they are deposited in a secure account, specifically for the purpose of redeeming transactions made by your Card. In the unlikely event that Wirecard Card Solutions Ltd becomes insolvent, funds that your Employer has loaded which have arrived with and been deposited by Wirecard Card Solutions Ltd are protected against the claims made by creditors.

These terms and conditions apply to your Prepaid Card. You must read them carefully. In these terms and conditions "you" means the named Cardholder and the authorised user of the FairFX Prepaid Corporate Card. "Card" means the FairFX Prepaid Corporate Card, except where specifically stated. "Employer" means the organization you work for who has asked us to issue you with a Card,

1. Your Prepaid Card

1.1 The Card is issued by Valitor Payment Services Ltd, Paternoster House 65, St. Pauls Churchyard 2nd floor, London, EC4M 8AB, which is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051) and an issuer of e-money. Your Prepaid Card is the property of Valitor Payment Services Ltd and is not transferable to anyone else.

1.2 You can use the Card at any location that displays the Mastercard Acceptance Mark, including shops, restaurants, online or on the telephone. Your PIN will allow you access to ATMs, Chip & PIN retailers and you can also use your Card overseas. Before using the Card you need to make sure there are enough funds loaded on it. Your Card is not a credit card and is not connected to a bank account. Your Card is an electronic money (e-money) device. Neither you nor your Employer will receive any interest on any funds loaded on your Card.

2. Applying for and activating your Card

To receive a Card you must be at least 18 years old. We may require evidence of who you are and of your address. You must agree to provide your Employer with this information so that we can issue you with a Card. We may ask you to provide some additional documentary evidence to prove this and/or we may carry out checks electronically. You must sign the signature strip on the reverse of your Card as soon as it is received. You will also need to activate your Card before you will be able to use it. Details of card activation are included with the letter you receive with your Card. You will also be given a PIN for use with your Card, which can be changed at most UK ATMs to a more memorable number. By using the Card and using the Website and App you are agreeing to these terms and conditions.

3. Loading Your Card

Once your Card has been activated, your Employer will be able to load and unload your card and to view any transactions made on the card. We reserve the right not to accept any particular loading transaction. If a significant amount of money is loaded onto your Card you must ensure that you understand and accept the risks of doing so. See ‘Section 16 - Compensation’ for more information.

4. Using your Card

4.1 Detailed instructions on how to use your Card are found on the Website. You will need to follow these instructions when using your Card.

4.2 We will deduct the value of your transactions from the balance on your Card as soon as they are made. We will also deduct any applicable fees as soon as they are payable. See below for details of all fees associated with the card. If sufficient funds are not loaded on your Card at the time of a transaction to cover the amount of the transaction and the fees, the transaction will be declined.

5. Cancellation and Expiry of Your Card

5.1 If you wish to cancel your Card, you must do so by advising your Employer. If your Card is cancelled, we will immediately block your Card so it cannot be used.

5.2 If you are no longer working for your Employer, you must cancel your Card by advising your Employer.

5.3 If your Card is cancelled, you must destroy it securely by cutting it up, making a clear cut directly through the Card Chip and signature strip.

5.4 You will not be entitled to a refund of money you have already spent on transactions authorised or pending or any fees for use of the Card before the Card is cancelled or expires. If you cancel your Card, once all transactions and fees have been deducted we will arrange for any unused funds to be refunded to your Employer. You will have no right to receive a refund yourself.

5.5 We may also cancel your Card immediately if we suspect fraud or misuse of your 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 can after we have taken these steps.

5.6 When your card expires it will no longer be valid and you will no longer be able to use it. We will arrange for the balance of funds to be transferred to a new Card, after deducting any outstanding transactions and fees. However, we will not issue a new Card if your Employer tells us in writing at least 28 days before the date your card expires that they do not wish us to replace the card.

6. Keeping Your Card Secure

6.1 You must keep your Card safe and not let anyone else use it. If someone else uses your card before you have advised that it is lost or stolen, the maximum amount that you or your Employer will be held liable for is £35.00 provided that you have not acted fraudulently or without reasonable care.

6.2 You are issued with a PIN. You must immediately memorise it and destroy the notification. You must keep your PIN secret at all times. We recommend that you check the balance on your Card regularly online at the Website (www.fairfx.com/business) or via the FairFX Corporate App.

6.3 If you lose your Card, it is stolen or you suspect that it has been used by someone other than you, you must tell us immediately by contacting us on +44(0)20 7778 9333 or marking your card as lost or stolen via your FairFX mobile app or website so that we can cancel your Card. If you ask us to do so, we may ask the police to investigate any disputed transaction or misuse of your Card. We may need more information and assistance from you.

7. Our Liability

7.1 We cannot guarantee that a retailer will accept your Card or that we will necessarily authorise any particular transaction because of a system problem, events outside our reasonable control, or because we are concerned about misuse of your Card. Accordingly, we shall not be liable if a retailer refuses to accept your Card, if we do not authorise a transaction, or if we cancel or suspend use of your Card.

7.2 Unless otherwise required by law, we shall not be liable for any direct or indirect loss or damage you may suffer as a result of your total or partial use of, or inability to use, your Card, or as a result of the use of your Card by any third party.

7.3 If you do not use your Card in accordance with these terms and conditions, or if we find that you are using your Corporate Card fraudulently, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using it and to recover any monies owed as a result of your activities.

8. Your right to a refund

You may not request a refund of any funds left on your Card. The balance on your card remains the property of your Employer and only they can request a refund.

9. The fees

FairFX Card Issue Fee £10.00 +VAT per card
Maintenance & Support £50.00 +VAT annual platform fee per account
Card to Card Transfer FREE
UK Point of Sale Transaction Fee
  • Sterling Card - FREE
  • US Dollar Card - 1.75% when spending out of currency
  • Euro Card - Free when spending in currency and 1.75% of transaction value when spending out of currency
International Point of Sale Transaction Fee
  • Sterling Card - 1.5% of transaction value
  • US Dollar Card - Free when spending in currency and 1.75% of transaction value when spending out of currency
  • Euro Card - Free when spending in currency and 1.75% of transaction value when spending out of currency
UK ATM Transaction Fee
  • Sterling Card - £1.50
  • US Dollar Card - £1.50 equivalent and 1.75% of transaction value
  • Euro Card - £1.50 equivalent and 1.75% transaction value
Please note that some ATMs may apply an additional surcharge. This is outside of the control of FairFX and you will be notified before authorising the transaction
International ATM Transaction Fee
  • Sterling Card - £1.50 and 1.5% of the transaction value
  • US Dollar Card - £1.50 equivalent when charged in currency. £1.50 equivalent and 1.75% of transaction value when spending out of currency
  • Euro Card - £1.50 equivalent when charged in currency. £1.50 equivalent and 1.75% transaction value when spending out of currency
Over the Counter Bank Branch Withdrawal Fee 1.5% of the transaction value. Subject to a minimum fee of £5.00 / €6.25 / $7.50
Loading fee
  • Sterling Card - FREE
  • US Dollar Card - FREE to load using sterling, subject to FairFX exchange rate. 1% load fee when loaded with US Dollars
  • Euro Card - FREE to load using sterling, subject to FairFX exchange rate. 1% load fee when loaded with Euros
Customer Service Telephone Enquiries Standard call charges apply.
Lost and Stolen Card Replacement Fee FREE
Dispute Administration Fee £10.00 per disputed transaction (this may be refunded in certain circumstances).
Refund Fee on Active cards
  • €10.00 for the Euro card
  • $10.00 for the US Dollar card
  • £10.00 for the Everywhere card
Currency is exchanged at the prevailing rate at the time of the refund.

If we decide to increase or impose any new fees, we will tell your Employer by email or post, at least 60 days before any changes take effect. In the unlikely event, for any reason whatsoever, a transaction is authorised when there are insufficient funds on the Card for that transaction (a shortfall), the shortfall shall be reimbursed by your Employer. If it is due to an error on the part of the retailer we may seek the shortfall from the retailer.

You agree that once we make this shortfall known to you, we may charge for the shortfall amount. Until the employer reimburses the shortfall amount, we may suspend your Card.

10. Your details

You must let your Employer know as soon as possible by email, or in writing if you change your name, address, phone number or email address who will advise FairFX. Please be aware that you may have to provide supporting documentation before we are able to make the change. If we contact you in relation to your Card, for example, to notify you that we have cancelled your Card, we will use the most recent contact details provided to us. Any email to you will be treated as being received 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 us.

11. Data Protection

FairFX processes information about you in accordance with its privacy policy. By using the website, you consent to such processing and you confirm that all data you provide is accurate.

12. Disputes with Retailers

12.1 If you have any disputes about purchases or the amount you have been charged by the company or person you bought goods or services from you should settle these with the company or person involved. We are not responsible the quality, safety, legality or any other aspect for any goods or services purchased with your Card.

12.2 Once you have used your Card to make a purchase we cannot stop that transaction.

12.3 If you suspect that your Card has been compromised or used fraudulently we may be able to dispute the items on your behalf. We will under no circumstances be liable for transactions if your card has been knowingly used by another person or you have disclosed your PIN to anyone.

12.4 FairFX will not be liable for any transactions made when a card has been reloaded during ongoing disputed transactions. All expenditure should be accounted for before a Card is re-charged with funds.

12.5 Should you wish to dispute a transaction you need to inform FairFX as soon as possible. FairFX will not be able to assist with a dispute should the transaction be greater than 120 days old.

12.6 Only the named cardholder should use the FairFX Card provided to them. If you have been issued with a card that is not in your name you will not able to raise a chargeback to claim back funds in the event of a dispute with a merchant or fraudulent transaction.

13. Communication

13.1 By phone on +44(0)20 7778 9364 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.

13.2 By email on corporate@fairfx.com

13.3 By post at FairFX Plc, 3rd Floor, Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ

14. Complaints

14.1 If you are unhappy in any way with your FairFX account, please tell us so we can try to resolve the situation. You can complain via email, post or by calling +44(0)20 7778 9364 between 09:00 and 17:30 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.

14.2 We will try to resolve any complaints you have about your payment instrument or the service we provide to you within 15 business days of receiving your complaint and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).

14.3 You can request our Complaints Procedure via email, phone or by visiting our Website.

14.4 If we are not able to resolve the complaint to your satisfaction and you are eligible, you may be able to refer it to the Financial Ombudsman Service.

14.5 The Financial Ombudsman Service is a free, independent service which might be able to settle a complaint between you and us. Their contact details are: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR; phone 0300 123 9 123, website www.financial-ombudsman.org.uk.

15. Compensation

Although the product is regulated by the Financial Conduct Authority (FCA), the Financial Services Compensation Scheme (FSCS) does not apply to this product. No other compensation scheme exists to cover losses with this product. This means that in the event that Valitor Payment Services Ltd becomes insolvent, the card may become valueless and unusable, and you may lose your money. By using this product, you confirm that understand and accept these risks.

16. Assignment

We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you at least 60 days prior notice of this. If we do this, your rights will not be affected.

17. Fund Protection

As a responsible e-money issuer, Valitor Payment Services Ltd ensures that once it has received funds they are deposited in a secure account, specifically for the purpose of redeeming transactions made by your Card. In the unlikely event that Valitor Payment Services Ltd becomes insolvent, funds that your Employer has loaded which have arrived with and been deposited by Valitor Payment Services Ltd are protected against the claims made by creditors.

1. Scope of this Agreement

We will deal with you on:

1.1 These Terms of Business.

1.2 The General Corporate Terms and Conditions and any other additional terms issued by us.

1.3 Together referred to as this ‘Agreement.’ These terms are the only ones one which govern both FairFX and you in relation to any Order you may place.

2. Instructions

2.1 You are authorised by your Employer to transfer currency for the purposes of business travel and expenses.

2.2 In entering into this Agreement, you warrant and understand that:

  • Late arrival of funds may result in delays in delivery of foreign currency
  • We act only as an introducing broker and are not providing you with any advice regarding your decisions to buy or sell foreign currency
  • We will only accept payments from your Employer

3. The Services

3.1 We will provide facilities for you to buy and sell currency on behalf of your Employer (the Client).

3.2 By creating an order you instruct FairFX to buy and sell currency. Once an order has been entered in to it cannot be altered, cancelled or rescinded. Each new order constitutes a separate contract subject to these terms and conditions.

3.3 When making an order you rely solely on your own judgement. If we provide you with information concerning any matter including (without limit) the foreign exchange markets, it is on a voluntary basis and we do not accept responsibility for the accuracy or completeness of such information or assume any duty of care in relation to it. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation or on markets.

3.4 We may at our absolute discretion refuse any order without giving any reason and without liability for any loss or damage incurred by you or any other party.

3.5 We will not transfer to you any funds representing the benefit of any fluctuation in currency arising after an order has been entered into.

3.6 We may request from you, from time to time any information regarding you and your business and financial affairs, status and identity including, without limitation, any information required for compliance with legislation governing money laundering or other matters.

3.7 You are responsible for ensuring the accuracy of all information submitted to us by you and must not withhold or omit any information that would render those details false or inaccurate. You will notify us immediately if you become aware of any error or omission.

3.8 We reserve the right to re-quote or cancel an order at any time without liability for any loss or damage incurred by you or any other party.

4. Delivery and Payments

4.1 In the event of an order, you will pay the sale currency in full into the client nominated account for value no later than the close of business the following business day.

4.2 FairFX will allow you to hold funds on account for the express purpose of onward delivery to a beneficiary of your discretion at a later date. There is no interest payable or any other financial gain from holding said funds with FairFX.

4.3 Should funds be held with FairFX all due care and control will be placed on said funds as required under law for their protection in accordance with the Financial Conduct Authority’s rules on Client Money. Such funds are safeguarded and may only be utilised through FairFX products and services as per your instructions.

4.4 FairFX accepts no responsibility should you send currency to a FairFX or other bank account other then what is stated by FairFX on instructions received through having placed an order.

4.5 All payments made by you under this Agreement shall be free from and without setoff, withholding, counterclaim or deduction whatsoever. We shall make all payments due to you under this Agreement in full unless required by law to make deductions including, without limitation, deductions or withholdings in respect of any taxation liabilities.

4.6 Banks have specific cut off times for the receipt and dispatch of electronic payments. We accept no responsibility for any consequence attributable to the arrival of funds after the relevant cut off times. FairFX will ensure all orders received before such cut off times are executed immediately where practical.

4.7 Should you place an order on a non-working day then FairFX will execute the order as per your instructions the first working day following your placement of the order.

4.8 All funds provided by you under an order may be appropriated by us if we incur any liability in respect of any payment or in the event that you are unable to pay sums due to us and / or you are in breach of this Agreement.

4.9 Should a payment be returned to FairFX then the option will be provided to resend the payment or to sell back to you at the prevailing buy back rate.

4.10 FairFX is not liable for any losses incurred either through selling the funds back to you at the prevailing buy back rate or the funds due to fees having been taken from the rejecting bank.

4.11 You may be charged an additional fee to resend the funds should they be returned to FairFX.

Currency

Resending Fee

Sterling

£0.40

Euros

£1.00

United States Dollar

£9.00

Australian Dollar

£10.00

Canadian Dollar

£11.00

Japanese Yen

£16.00

New Zealand Dollar

£16.00

Swiss Franc

£5.00

Bulgarian Lev

£5.00

Czech Koruna

£5.00

Indian Rupees

£7.00

Polish Zloty

£5.00

Romanian Leu

£5.00

South African Rand

£33.00

4.12 FairFX may, at our discretion, make payments to third party introducers.

1. Scope of this Agreement

We will deal with you on:

1.1 These Terms of Business

1.2 The General Terms and Conditions and any other additional terms issued by us

1.3 Together referred to as this ‘Agreement.’ These terms are the only ones which govern both FairFX and you in relation to any order you may place.

2. Instructions

You are authorised by your Employer to order travel cash for the purposes of business travel and expenses.

In entering into this Agreement, you warrant and understand that:

  • Late arrival of funds may result in delays in delivery of foreign currency
  • We act only as an introducing broker and are not providing you with any advice regarding your decisions to buy or sell foreign currency
  • We will only accept payments from your Employer

3. The Services

3.1 We will provide facilities for you to buy travel cash.

3.2 By creating an order you instruct FairFX to issue cash to you. Once an order has been entered in to it cannot be altered, cancelled or rescinded. Each new order constitutes a separate contract subject to these terms and conditions.

3.3 When making an order you rely solely on your own judgement. If we provide you with information concerning any matter including (without limit) the foreign exchange markets, it is on a voluntary basis and we do not accept responsibility for the accuracy or completeness of such information or assume any duty of care in relation to it. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation or on markets.

3.4 We may at our absolute discretion refuse any order without giving any reason and without liability for any loss or damage incurred by you or any other party.

3.5 We will not transfer to you any funds representing the benefit of any fluctuation in cash arising after an order has been entered into.

3.6 We may request from you, from time to time any information regarding you and your business and financial affairs, status and identity including, without limitation, any information required for compliance with legislation governing money laundering or other matters.

3.7 You are responsible for ensuring the accuracy of all information submitted to us by you and must not withhold or omit any information that would render those details false or inaccurate. You must notify us immediately if you become aware of any error or omission.

3.8 We reserve the right to re-quote or cancel an order at any time without liability for any loss or damage incurred by you or any other party.

4. Delivery

4.1 FairFX accepts no responsibility should you send currency to another bank account other then what is stated on instructions received from FairFX.

4.2 All payments made by you under this Agreement shall be free from and without setoff, withholding, counterclaim or deduction whatsoever. We shall make all deliveries due to you under this Agreement in full unless required by law to make deductions.

4.3 Orders received before 13:00 on a working day will be issued by Royal Mail Next Working Day delivery. A copy of Royal Mail’s terms and conditions are available from Royal Mail upon request.

4.4 Should you place an order on a non-working day then FairFX will execute the order as per your instructions the first working day following your placement of the order.

4.5 It is your responsibility to have someone available to sign for the order. Royal Mail will attempt delivery to the requested address before 13:00. Any persons within the building may sign to confirm delivery.

4.6 Any delivery times quoted by FairFX are estimates only and FairFX does not accept liability for late deliveries. Once a Package has been collected by the Royal Mail for delivery it is outside of FairFX’s control.

4.7 If no one is available at your address when Royal Mail attempts to deliver, the order will be held at your local collection point. Royal Mail will provide notification as to where this by leaving a “Something for you” card. The order must be collected from the same collection point as specified by Royal Mail.

4.8 The package will only be held at the collection point for a limited amount of time (typically 5 business days after the collection date). FairFX cannot guarantee that you will be able to collect the package after the collection date specified in the order. If you believe you will be unable to collect the package on the date specified in the order, you must notify FairFX as soon as possible.

4.9 If you fail to:

  • accept delivery of the package
  • collect the package from the Royal Mail after a failed delivery

Then once the package has been returned to FairFX, you may request a refund of its original payment subject to a buyback rate, or request FairFX to attempt re-delivery subject to additional postal costs.

4.10 You must not sign for any package which has, in any way, had its packaging ruptured or tampered with. FairFX will not accept any responsibility or liability for any shortage if you have signed for a package which been ruptured or tampered with. A “shortage” means a situation where the amount of currency ordered is greater than the amount of currency actually delivered in a package. If the package has been damaged or tampered with you must reject delivery and inform FairFX immediately.

4.11 If there is a shortage in any package then you must notify FairFX within 48 hours after receipt of the package. In the event that you notify FairFX of a shortage, FairFX may review its CCTV footage of the package being prepared for delivery.

4.12 If for any reason you do not receive a package and FairFX agrees to send you a package of replacement travel cash and you subsequently receive the original package, you agree to return the original. If you do not return the original package within 14 days, FairFX reserves the right to charge you for the package of replacement currency.

4.13 If, due to an error by FairFX, you receive more currency than ordered in a package, then you agree to return the excess travel cash to FairFX within 14 days of receipt of the package. FairFX agrees to reimburse you for any reasonable postage costs associated with the return of excess travel cash in accordance with this clause.

4.14 All funds provided by you under an order may be appropriated by us if we incur any liability in respect of any payment or in the event that you are unable to pay sums due to us and / or you are in breach of this Agreement.

4.15 FairFX may, at our discretion, make payments to third party introducers.

We hope that you never have to complain about our products or services, however, we accept that on some occasions things can go wrong. Where we're at fault, we want to put things right as quickly as possible and will apologise to you.

In the First Instance

To query a transaction call call 0207 778 9364 (Calls cost no more than a national rate call to a 01 or 02 number. They may also count towards any inclusive minutes in a phone contract in the same way as 01 and 02 calls). Office hours are: Mon-Fri 9.00am-5:30pm .

Complaints may be made via several methods:

  • Telephone: 0207 778 9364. (Calls cost no more than a national rate call to an 01 or 02 number. They may also count towards any inclusive minutes in a phone contract in the same way as 01 and 02 calls)
  • Post: 3rd Floor, 68 Vintners Place, London EC4V 3BJ
  • Email: corporate@fairfx.com

Please provide us with your name and email address registered with us and the reason for your concern. Also include as much relevant information as possible to assist us. We will try to resolve your problem whenever possible within 24 hours.

If we are unable to resolve the matter within 24 hours we will record this as a formal complaint within our internal complaints procedure to be dealt with as follows:

  • Upon receipt of your formal complaint we will issue a prompt acknowledgement if we are unable to respond in full within five working days
  • Based on the nature of your concerns and the information provided we will use all the information at our disposal to investigate and resolve your complaint. We may need to contact you for further information as part of this process if it will help us to resolve the issue.

Resolving Your Complaint

A full and final response will be issued within 15 working days (35 days in exceptional circumstances) from the date we receive your initial complaint, setting out our understanding of your concerns and a possible resolution.

If we are unable to issue our full and final response within 15 working days (35 days in exceptional circumstances) we will write to you to update you on the progress of the investigation and the expected resolution date.

We are committed to ensuring all complaints are fairly addressed. However, if you are still unhappy with the outcome of our full and final response, or if 15 working days (35 days in exceptional circumstances) have passed and we have been unable to respond, you have the following options:

  • If you prefer, or if you feel you have additional information to support your complaint, let us know as we would welcome the opportunity to help resolve the matter in full
  • Alternatively, you may have the option to refer your complaint to the Financial Ombudsman Service for an impartial review and would need to do so within 6 months of our final response.

Financial Ombudsman Service Details

Financial Ombudsman Service, Exchange Tower, London, E14 9SR

Telephone: 0300 123 9 123

Email: complaint.info@financial-ombudsman.org.uk

www.financial-ombudsman.org.uk