Terms & Conditions

Please note, Newcastle Building Society (NBS), the original issuer of the FairFX Mastercard® Prepaid Card, has transferred its Prepaid Cards Division to Wirecard Card Solutions Limited (WDCS). WDCS, authorised and regulated by the Financial Conduct Authority in the UK and covered by the Financial Ombudsman Service, is the new issuer of your card. The Terms and Conditions and any fees relating to your card remain unchanged. This also does not affect the status of your card or statutory rights in any way. Should you have any queries regarding this matter don't hesitate to contact us, Mon-Fri, 9am-5pm on 020 7778 9300 or email enquiries@fairfx.com

This website (the or this "Website") 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 enquiries@fairfx.com.

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

Availability of services and products and accessing the website

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

1.1 make such changes to the content of the Website or the products or services offered by FairFX through the Website as FairFX (in its absolute discretion) considers appropriate from time to time;

1.2 withdraw such services and products as FairFX (in its absolute discretion) considers appropriate from time to time;

1.3 terminate your access or use of the Website for any breach of these terms or 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 identity checks. This service is currently performed by the GB Group. 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.

2. Permitted Access to the Website

2.1 You should not use the Website from any country where accessing or using the Website or any of the information, products or services on it is prohibited by law. This Website 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.

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 is up to date at the stated date of its publication only. FairFX does not accept any responsibility to update or amend any information. The information or content provided by the Website may be out of date at any given time.

4. Restrictions on use of the website

4.1 The content of the Website and the products and services made available by FairFX on the Website are intended for use by holiday or business travellers or by individuals or corporations seeking to purchase currencies for the purposes of business travel, and should not be used for speculation or investment.

5. Intellectual Property

5.1 All intellectual property and all materials comprising or contained in the Website including but not limited to all text/articles, logos, software and images, are owned, or as the case may be licensed, except as otherwise expressly stated, by FairFX.

5.2 You are entitled to access the Website for the purposes of accessing the facilities offered by FairFX. However you may not use in any way, directly or indirectly, the Website or any of its components for any other purpose. The materials contained on or comprising the Website may not be copied or redistributed for commercial purposes or for compensation of any kind without prior written permission from FairFX.

6. Links to other sites

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

6.2 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.

7. Limitations on liability

7.1 All content shown on the Website (and all services and products 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 this Website.

7.2 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:

7.2.1 your use, delay or inability to use this Website;

7.2.2 any inability to perform any of FairFX's obligations due to failure of any technical or computer systems;

7.2.3 any reasons beyond FairFX's reasonable control. This will include (amongst other things) war, terrorism, government action, natural disaster, and industrial disputes;

7.2.4 any damage to your computer equipment as a result of using this Website or any products or services provided from it;

7.2.5 any change in foreign currency rates which may occur from time to time.

7.3 Without limiting the more general exclusions of liability as set out in sections 7.1 and 7.2, (to the maximum extent permitted by law) 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 or the products or services offered through or by the Website however caused.

7.4 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 moneys you have paid to FairFX to acquire foreign currency.

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

7.6 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.

7.7 FairFX does not accept any liability for loss occasioned by fraudulent spending or any other unauthorized use of the card no matter how caused but will assist its customers in preparing a claim for submission to the appropriate third parties where requested to do so.

7.8 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.

8. Privacy and 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.

Governing Law and changes to these terms and conditions

9. All use of the Website and these terms and conditions is governed by the laws of England and Wales.

10. All disputes arising out of the use of the Website 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.

11. FairFX reserves the right to change these terms and conditions from time to time. You should check these terms and conditions every time you use the Website. By using the Website you will be treated as having consented to these terms and conditions and/or any revised terms and conditions which may appear from time to time.

Additional terms and conditions

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

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

2. On the Website FairFX makes available foreign currency for purchase in respect of holiday and business travel (but not for investment, speculation or any other purposes).

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

4. 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.

5. You will be able to correct the details of your order any time up until you press the "Buy Now" button which confirms order at the bottom of the payment details page. 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.

6. FairFX will send you an email acknowledgement of your order once it has received it but please note that this is an acknowledgement only and does not constitute acceptance of your order by FairFX.

7. Once you have placed your order for foreign currency on the Website by pressing the "Buy Now" button at the bottom of the payment details page this will authorise FairFX to action your order and you will not be allowed to cancel it subject to the cancellation policy set out in paragraph 8 below. Should you wish to make any amendments to your order after you have placed your order by pressing the "Buy Now" button at the bottom of the payment details page, FairFX will use its reasonable endeavors to accommodate your needs. If you wish to amend your order please send an e-mail to enquiries@fairfx.com . Any such amendments will be subject to the applicable foreign exchange rates as published on the Website by FairFX from time to time. If FairFX agree to amend you order you will receive an e-mail to confirm this. However FairFX is under no obligation to accept any such amendments to your order and FairFX accepts no liability or responsibility in the event that it decides not to do so.

8. You may cancel your order by providing FairFX with written notice of cancellation, by email to enquiries@fairfx.com, at least 7 days 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 of the order which may be different to the foreign exchange rate at the time of your order as exchange rates fluctuate.

9. 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 foreign currency or other services. You should print and retain a copy of the confirmation email for your records.

10. FairFX is not obliged to accept any order and may decline to do so for any reason

Price, Availability and Delivery

11. Your foreign currency will be delivered at the time and made available in the manner set out on the confirmation email. In the event that you have arranged for your order to be delivered FairFX will use Royal Mail Next Working Day Delivery. FairFX accepts responsibility for your order up to the point of collection by Royal Mail. Problems at Royal Mail such as service disruptions, delays or failure to deliver are therefore outside the control of FairFX.

  • Maximum value per delivery package is £2500 - anything over this amount will be delivered over multiple deliveries
  • Maximum of 3 packages delivered in a day to a total maximum of £7500 per day
  • For orders that exceed the £7500 limit, subsequent delivery/deliveries will be made the next working day (max £2500 value per package applies)
  • The maximum order value of £7500 also applies to Saturday deliveries.

Upon delivery, please ensure that the package is not torn, has not been opened and does not appear to have been tampered with before signing. If you are not happy with the condition of the package do not accept it or sign for it and inform us immediately of any problems.

If your delivery does not arrive please inform FairFX immediately. Upon being made aware of any problems regarding deliveries, FairFX will then liaise with Royal Mail on your behalf and keep you informed as to the reason for the problems and the steps being taken to resolve the issue.

12. The price payable for the foreign currency that you order will be as 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 you enter the confirmation screen the price many change and you will need to enter the screen again to see the updated price.

13. 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 place an order with FairFX. By placing an order you agree to the terms and conditions in force at the time the order is made.

14. FairFX is entitled to refuse, withdraw or cancel your foreign currency order at anytime, for any reason. FairFX may terminate any foreign currency order at any time.

15. Should any order be cancelled before being processed, your card issuer may suspend the associated funds for up to 5-7 days, before releasing them back into your account. Please be advised that this is beyond FairFX's control. As such, FairFX accepts no liability for such actions. Please note that FairFX does not refund cash advance charges made by your card issuer and that the late cancellation fee may also be subject to a cash advance fee from your card issuer.

FairFX may also terminate any contract it has with you if it is required to do so on instructions of any law enforcement agency or regulatory body. In this case FairFX may retain all or any of your money if it is required to do so by law and then deal with it as ordered by a court or other body of competent jurisdiction.

Anti-money laundering policies

As a Money Services Business (MSB), FairFX is registered with and regulated by HM Customs & Excise under Money Laundering Regulations. Our staff are fully conversant with Anti-Money Laundering guidelines and are aware of their responsibilities in the monitoring and reporting of any actions that raise suspicion or give cause for concern.

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 enquiries@fairfx.com.

FairFX reserves the right at all times to refuse to process any foreign currency order which it believes in its sole discretion, is connected in any manner to any unlawful or illegal purpose. We have a legal obligation to report to Customs and Excise / NCIS any such suspicious transactions.

FairFX is obliged by law to monitor 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.

There is a statutory obligation on all FairFX employees and their agents to report suspicious transactions to the UK authorities. Where any such report is made, FairFX accepts no liability for any delay in transmission of 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 Prepaid Cardholder and the authorised user of the Prepaid Card. "We", "us" or "our" means Wirecard Card Solutions Ltd or Payment Cloud Technologies acting on its behalf. "Website" means our website at www.fairfx.com

1. Your FairFX Prepaid Mastercard Card

You can use the Prepaid Card / E-Money Account at any location that displays the Mastercard Acceptance Mark, including shops, restaurants, online, or on the telephone. You can also use your Prepaid Card overseas. Before using the Prepaid Card you need to make sure there are enough funds loaded on it. You will not be able and should not attempt to use your Prepaid Card after its expiry date. On expiry of your Prepaid Card, you will have the option of renewing the card for a further three years via our website. If you renew, your balance will be transferred to the new card.

Your Prepaid Card is not a credit card and can only be connected to your bank account for the purposes of loading the card. You will not earn any interest on any funds loaded on your Prepaid Card.

Where you have requested Additional Prepaid Cardholders, you authorise us to issue Prepaid Cards and a PIN to the Additional Prepaid Cardholders and you authorise each Additional Prepaid Cardholders to authorise transactions on your behalf.

2. Dollar Card Insurance Benefits

All cardholders who order a card from 27/06/16, and have a FairFX Dollar Card starting with 5223 24 will automatically be eligible to receive additional insurance benefits as detailed in this Consumer Terms document.

These benefits will apply automatically, and you do not need to contact us to confirm that you wish to accept the agreement.

  • This policy can be used as your sole insurance cover. If you’re happy with the level of cover described here being equivalent to your usual level of cover, you do not need to take out any other insurance policy.
  • Your personal details will not be shared with AXA (the company providing the insurance cover on behalf of FairFX) until a claim is made.
  • If you do not want to use the insurance cover that is automatically applied when you order your FairFX Dollar card, you should buy insurance cover from your chosen provider instead.
  • The full policy details are covered in the Consumer Terms Agreement, but a summary of the policy is as follows:
    • The duration of any trip may not exceed 30 consecutive days with a maximum 183 travel days in any 12 month period. Please note if your trip is longer than the maximum duration, benefits will not apply to any part of that trip
    • The policy covers you/your/beneficiary(ies) – the Cardholder and his/her spouse or legal partner (any couple in a common law relationship living permanently at the same address), their unmarried children, aged under 21 who are financially dependent (according to the regulations of the country of residence) on the Cardholder, all living in the country of residence and travelling on a trip
    • The amount payable is a fixed amount, regardless of the number of beneficiaries
    • Trips using one way or one way open tickets are not covered unless the outbound and inbound travel tickets have been purchased before the trip begins.
    • Any trip solely within the country of residence is only covered where you are travelling at least 100 kilometres from home and have pre - booked at least two nights’ stay at a registered accommodation provider rented for a fee.
    • If you have any questions about the level of cover prior to travelling, please call us on +44 (0) 1753 778619, where a member of the Travel Card Team will take your details and will transfer you to a member of the AXA insurance department.
    • In the event you have to make a claim, You should call us on +44 (0) 1753 778619. You will need to give:
      • your name
      • your covered card number
      • brief details of your claim.
    • We ask that you notify us within 28 days of you becoming aware of needing to make a claim

3. Applying for and activating your Prepaid Card

To apply for our Prepaid 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 back of the Prepaid Card as soon as it is received. Please refer to our Website (www.fairfx.com) for all Prepaid Card loading options, or refer to the "Loading your Prepaid Card" section below.

By using the Prepaid Card you are agreeing to these terms and conditions.

4. Loading your Prepaid Card

Funds can be loaded to your Prepaid Card in a number of ways: Internet top up and top ups from your bank account - Simply follow the instructions at the Website

Minimum single load is £50, €60 or $75, and maximum is £5,000.00, €7,500.00 or $10,000.00. Your Prepaid Card cannot be loaded more than twice in any one day. The balance on your Prepaid Card can never exceed £20,000.00, €30,000.00 or $40,000.00 at any time. We reserve the right to refuse to accept any particular loading transaction.

If loaded on-line funds will normally be available for use on the Mastercard Prepaid Card within a few hours. The Financial Services Compensation Scheme does not apply to your Mastercard Prepaid Card, however in the unlikely event that WDCS becomes insolvent, funds that you have loaded are protected against claims made by creditors.

5. Using your Prepaid Card

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

We will deduct the value of your transactions from the balance on your Prepaid Card. We will also deduct any applicable fees as soon as they become payable by you, see our Fees section below for details of our fees.

The Prepaid Card belongs to us. We may ask you to stop using your Prepaid Card and return it to us or destroy it. We may at anytime suspend, restrict or cancel your Prepaid Card or refuse to issue or replace a Prepaid Card for reasons relating to the following:

  • We are concerned about security of your account or Prepaid Cards we have issued to you
  • We suspect your account is being used in an unauthorised or fraudulent manner or we need to do so to comply with the law

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.

  • If we are concerned about security of your Prepaid Card or we suspect your Prepaid Card is being used in an unauthorised or fraudulent manner
  • If sufficient funds are not loaded on your Prepaid Card at the time of a transaction to cover the amount of the transaction and any applicable fees
  • If there is an outstanding Shortfall on the Prepaid Card in accordance with condition 12
  • If we have reasonable grounds to believe that you are acting in breach of this agreement
  • If we believe that a transaction is potentially suspicious or illegal (for example, if we believe that a transaction is being made fraudulently) or because of errors, failures (whether mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing transactions

If we refuse to authorise a transaction, we will, if practicable, tell you why immediately unless it would be unlawful for us to do so. You may correct any information we hold and which may have caused us to refuse a transaction by emailing us on enquiries@fairfx.com.

6. Authorising Transactions

Subject to the features of the particular Prepaid 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 Prepaid Card transaction will be regarded as authorised by you where you:

  • 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:
    • Entering your PIN or providing any other security code
    • Signing a sales voucher
    • Providing the Prepaid Card details and/ or providing any other details as requested
    • Waving/Swiping the Prepaid Card over a card reader or inserting your prepaid card into a card reading device for the purpose of making a payment
  • Insert a Prepaid Card and enter your PIN to request a cash withdrawal at an ATM
  • Make a request for a cash advance at any bank counter

Authorisation for a transaction may not be withdrawn (or revoked) by you after the time it is received. However, the following transactions may be withdrawn if you or an additional Prepaid Cardholder gives notice to the supplier (providing a copy of the notice to us):

  • Any transaction which is agreed to take place on a date later than the date is was authorised as long as notice was provided no later than the close of business on the business day before it was due to take place
  • Direct debits if they are to occur after the date of the withdrawal

We may charge you a fee if a transaction is revoked by you under this condition.

Funds to cover the authorised transactions received by us will be paid over to the merchant acquirer within 3 days following the receipt by us of the instruction to make payment. A transaction (the payment order) will be received as follows:

  • For purchases and ATM transactions, at the time we receive the transaction instruction from the merchant acquirer or ATM operator
  • If, in relation to:
    • Purchases and ATM transactions, we receive the transaction instruction from the merchant acquirer or ATM operator or
    • Other transactions communicated directly to us, you ask us to complete the transaction after 3pm, the transaction instruction or request will be deemed to have been received by us on the following business day

7. Cancellation and expiry of your Prepaid Card

This agreement will continue indefinitely unless terminated. You have a legal right to cancel your Prepaid Card up to 14 days after you receive the Prepaid Card without being charged the Refund Fee - this 14 day period is known as the "Cooling-Off Period". Under these terms and conditions, you also have the right to cancel your Prepaid Card at any time after the 14 day Cooling-Off Period without notice and any funds remaining on your Prepaid Card will be returned to you within 5 days subject to satisfactory checks being completed. Whenever foreign currency is unloaded/removed from the Prepaid card before during or after the 14 day cooling off period, it will be exchanged at the current buyback rate - not the rate at which the currency was initially loaded.

We may also cancel your agreement for any reason by giving you at least 2 month's notice:

  • If this agreement or your card expires on a set date and we have not agreed to renew this Agreement
  • If you break an important part of this agreement, or repeatedly break the agreement and fail to resolve the matter in a timely manner
  • If you act in a manner that is threatening or abusive to our staff, or any or our representatives
  • If you fail to pay fees or charges that you have incurred or fail to put right any shortfall
  • In the event of your death

We may also cancel this agreement or suspend your card or account immediately if we believe your Prepaid Card is deliberately being used by you to commit fraud or for other illegal purposes. If we do this we will tell you as soon as we are permitted to do so.

If we cancel your Prepaid Card you must tell us what you want us to do with any unused funds within 3 months of the date we tell you your Prepaid Card is cancelled. We can return the funds to the loading source, to a bank account in the same name as the prepaid card account for your refund. Please note we will need to verify your identity in order to satisfy Anti Money Laundering requirements. If we receive no contact within three months, the funds will be returned to the loading source.

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 Prepaid Card before the Prepaid Card is cancelled or expires. You can cancel your Prepaid Card by sending an email to us using the "contact us" function on the Website, and confirming that you have destroyed your Prepaid Card.

If you cancel your Prepaid Card, once all transactions and fees have been deducted, we will arrange for any unused funds to be refunded to you, see "Your Right to a Refund" section below for further information. A Refund Fee may be charged (see Fees section below) unless you have arranged to transfer any unused funds to another Prepaid Card managed by us, or you cancel your Prepaid Card within 14 days of receiving it.

Your Prepaid Card will be valid for 3 years. You may apply, on our website, for a renewal up to 2 months before expiry of the Prepaid Card. This renewal will run for a further three years and your balance will be transferred to the new card

Valid cards can be renewed free of charge. If your card expired and it has a leftover balance then an administration fee of £2/$3/€2.50 per month will be applied.

8. Keeping your Prepaid Card secure

You should treat your Prepaid Card like cash. If it is lost or stolen, you may lose some or all of your money on your Prepaid Card, in the same way as if you lost cash in your wallet or purse. As a result, you must keep your Prepaid Card safe and not let anyone else use it. If you are issued with a PIN, you must immediately memorise it and destroy the notification. You must keep your PIN secret at all times. You can change you PIN to something more memorable at most ATM machines by following the on screen instructions.

We recommend that you check the balance on your Prepaid Card regularly online at the Website. We will provide you with your Prepaid Card balance and a statement of recent transactions either by electronic means or on our secure webpage at any time. Your statement will show:

  • Information relating to each Prepaid Card transaction which will enable it to be identified
  • The amount of the Prepaid Card transaction shown in the currency in which the transaction was paid or debited to the account
  • The amount of charges for the transaction
  • The date the transaction is authorised or posted on to the account

9. Lost and stolen Prepaid Card and unauthorised or incorrectly executed payments

You must tell us without undue delay by calling us on our 24 hour lost and stolen card helpline 01753 775961 if you know or suspect that a Prepaid Card is lost or stolen or that the PIN or password is known to an unauthorised person or if you think a transaction has been incorrectly executed. If you ask us to do so, we will investigate any disputed transaction or misuse of your Prepaid Card and we may need more information and assistance from you.

We will refund any incorrectly executed transaction immediately unless we have any reason to believe that the incident has been caused by a breach of this agreement, gross negligence or we have reasonable grounds to suspect fraudulent activity.

However, if the investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence (for example by failing to keep your Prepaid Card or PIN secure), we will not refund the transaction amount and will charge you a fee of up to £50 for any loss we suffer because of the use of the Prepaid Card.

10. Our liability

We will not be liable for any loss arising from:

  • Any cause which results from abnormal or unforeseen circumstances beyond our control, consequences which would have been unavoidable despite all our efforts to the contrary
  • A retailer refusing to accept your Prepaid Card
  • Our compliance with legal and regulatory requirements
  • Loss or corruption of data unless caused by our wilful default

We are also not liable for:

  • Business interruption, loss of revenue, goodwill, opportunity or anticipated savings
  • Any indirect or consequential loss

We reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using this Prepaid Card and to recover any monies owed as a result of your activities.

11. Your Right to a Refund

The Funds on your Prepaid Card

You may request a refund of the funds on your Prepaid Card provided you have more than €10 or the GBP equivalent loaded on your Prepaid Card. To do so, send us an e-mail using the "contact us" facility on the Website requesting a refund. We will then confirm the exchange rate we will use for the refund by email and arrange to have the money returned to you. We encourage you to keep the card, which is valid for three years, and use it on your next trip. When we process your refund, we may charge a Refund Fee (see Fees section below).

We will arrange an electronic transfer to a bank account nominated by you. However, to enable us to comply with our legal obligations, we may ask you to provide us with certain information before we can process your refund request.

Refunding Transactions

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

  • The transactions was not authorised under this agreement
  • We are responsible for a transaction which was incorrectly executed notified us in accordance with section 8 above
  • 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 or an additional Prepaid Cardholder could reasonably have expected taking into account normal spending patters on the Prepaid Card or the circumstances of the transaction
  • 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
  • We were notified of the unauthorized/incorrectly executed transaction within 13 months of the debit date

12. Changes to these Terms

We may change these terms at any time by notifying you by e-mail or other agreed means at least 2 months before the change is due to take effect. The up-to-date version of the Prepaid Card terms and conditions will always be available on the Website. The change will automatically take effect and you will be taken to have accepted the notified change unless you tell us that you do not agree to the change. In that event, we will treat that notice as notification that you wish immediately to terminate. In such circumstances we will refund any balance on the card in accordance with section 10 above.

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 Customer Services Team.

13. Fees and Usage Restrictions

We do not charge any fees for checking your on-line balance and transactions. However the following fees do apply.

FairFX Card Issue Fee £9.95, unless purchased through a special partner offer or if you load £200+ onto the card at time of purchase.
Family and Friends Card Issue Fee £6.00
Monthly Management Fee FREE
Expired Card Admin Fee
  • €2.50 for the Euro card
  • $3.00 for the US Dollar card
  • £2.00 for the Everywhere card
Applied per month on expired cards with leftover balances.
Usage Restrictions Please see Terms and Conditions
UK Point Of Sale Transaction Fee
  • Everywhere Sterling Card - 1.4% of transaction value
  • 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
  • Everywhere Sterling Card - 1.4% of transaction value
  • US Dollar Card - Free when spending in currency and 1.75% when spending out of currency*
  • Euro Card - Free when spending in currency and 1.75% when spending out of currency*
ATM Transaction Fee
  • €1.50 for the Euro card
  • $2.00 for the US Dollar card
  • £1 for the Everywhere Sterling card

Please note that some ATMs may apply an additional surcharge.

Over the Counter Bank Branch Withdrawal Fee 1.5% of the transaction value. Subject to a minimum fee of €6.25 / £5 / $7.50
Lost and Stolen Card Block Fee FREE
Customer Service Telephone Enquiries Standard call charges apply.
Lost and Stolen Card Replacement Fee £5.99, €9 or $12
PIN Issue/Re-Issue Fee FREE
Card Load/Reload FREE card load online by Debit card or Bank Transfer. Credit card loads will incur an additional fee of 0.5%
Dispute Administration Fee £10 per disputed transaction (this may be refunded in certain circumstances).
Refund Fee on active cards
  • €5 for the Euro card
  • $5 for the US Dollar card
  • £5 for the Everywhere card

If you have expressed that your Prepaid Card will be used for business and personal spending then you will have been issued with a card number that begins with 5116. If your Prepaid Card number begins with 5116, the following ATM Transaction Fee and UK Point Of Sale Transaction Fee will be applicable instead of what is outlined above. All other Prepaid Card fees are applied as normal.

ATM Transaction Fee
  • Euro card - €0.75
  • US Dollar card - $1
  • Everywhere Sterling Card - £0.50 (an additional 1.4% transactional fee will also apply on transactions abroad)
UK Point Of Sale Transaction Fee
  • Everywhere Sterling Card - Free
  • US Dollar Card - 1.75% when spending out of currency*
  • Euro Card - 1.75% when spending out of currency*

* A 1.75% out of currency fee is charged when you use the card in a different currency to what is held on the card (including ATM withdrawals).

When you use your Prepaid Card at an ATM, you may also be subject to applicable fees, surcharge rules and regulations of the relevant ATM, or other financial institution or association.

If we decide to increase or impose any new fees, we will tell you by e-mail, text, or post, at least two months before any changes take effect. Authorisation will be requested for all transactions at the time of each transaction. In the unlikely event, for any reason whatsoever, a transaction is completed when there are insufficient funds on the Prepaid Card 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 Prepaid Card was presented, in this circumstance 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. We may charge the amount of the shortfall from any other Prepaid Cards that you hold with us, to any other payment method which you may designate at that time, or against any funds which you may subsequently load onto your Prepaid Card or on any additional Prepaid Card ordered by you. Until we are reimbursed the Shortfall amount, we may suspend your Prepaid Card and any additional Prepaid Cards connected to you. In addition, we reserve the right to charge you an Administration Fee for each transaction that you make using your Prepaid Card that results in a Shortfall or increases the Shortfall amount on your Prepaid Card.

14. Your Details

You must let us know as soon as possible if you change name, address, phone number or e-mail address. If we contact you in relation to your Prepaid Card, for example, to notify you that we have cancelled your Prepaid Card, we will use the most recent contact details you have provided to us. Any e-mail 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.

15. Data Protection

In purchasing the Prepaid Card on the Website and using it, you agree that we can use your personal information in accordance with our Privacy Policy. Our Privacy Policy is set out on our Website, it includes details of the personal information that we collect, how it will be used, and who we pass it to. You can tell us if you don't want to receive any marketing materials from us.

16. Disputes with Retailers

If you have any disputes about purchases made using your Prepaid Card, you should settle these with the person 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 Prepaid Card. Remember that once you have used your Prepaid Card to make a purchase we cannot stop that transaction.

17. Communication

If you have an enquiry relating to your Prepaid Card, you can email enquiries@fairfx.com or telephone 0871 911 0007 (use 01753 778619 when calling from abroad). We will deal with your enquiry promptly.

18. Complaints

The Prepaid Card programme is managed by Prepaid Card Technology. If you are unhappy in any way with your Prepaid Card or the way it is managed, tell us by using the e-mail enquiry facility on the Website so we can investigate the circumstances for you. Any complaints you have will be dealt with quickly and fairly. You may be able to take unresolved complaints to the Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567 or 0300 123 9123 and e-mail: enquiries@financial-ombudsman.org.uk

19. Compensation

The Prepaid Card is an electronic money product and although it is a product regulated by the Financial Conduct Authority, it is not covered by the Financial Services Compensation Scheme. However, in the unlikely event that WDCS becomes insolvent, funds that you have loaded are protected against claims made by creditors.

20. Assignment

We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you 2 month's prior notice of this. If we do this, your rights will not be affected.

21. Transfer to a new Prepaid Card

We may transfer your unused balance to a new Prepaid Card provided by a Prepaid Card issuer other than Wirecard Card Solutions Ltd at any time. Before we do this, we will give you 2 month's notice of the new Prepaid Card arrangements and the new Prepaid Card terms and conditions. Unless you advise us within the 2 month period that you do not want a new Prepaid Card from the new Prepaid Card issuer, you agree that we can automatically transfer the unused balance on your Prepaid Card to a new Prepaid Card provided by the new Prepaid Card issuer.

22. Governing Law

This Agreement is concluded in English. All communications with you will be in English. These terms and conditions will be construed in accordance with English law.

23. Fund Protection

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

24. Prepaid Card Issuer

Your Prepaid Card is issued by Wirecard Card Solutions Ltd (WDCS) whose principal office is Grainger Chambers, 3-5 Hood Street, Newcastle upon Tyne, NE1 6JQ, which is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051) as an issuer of e-money. Your Prepaid Card is the property of Wirecard Card Solutions Ltd and is not transferable to anyone else.

25. Commission charges in the United States

If you use your card in restaurants and bars in the USA, you will see a separate transaction described as ‘Commission’ on your statement. The value of the commission transaction will be for 15% of your authorised transaction amount. It is commonplace for restaurants and bars in the USA to authorise transactions on the payment card before customers have had the chance to add a tip to their bill. For transactions from restaurants and bars FairFX places a ‘hold’ of 15% of the authorised amount on your card until the final amount is confirmed by the merchant. Until the final amount is confirmed, a ‘commission’ amount will show on your statement to ensure sufficient funds are available on your card should a tip be charged. If the tip is not going through the card payment, then the ‘commission’ amount will be released as available funds to spend as soon as the Merchant confirms the transaction amount. Merchants typically finalise payments within three days but it can take longer and is controlled by the merchant. Merchants can only add tips to your card if you’ve agreed to it. During the hold period, you will not have access to the preauthorised amount.

After you have completed a FairPay transaction with FairFX, if you find a better rate from any other provider in the UK, notify us within 24 hours of transacting with us and we'll refund the difference between the FairPay online rate and the alternative rate you found elsewhere. This will only be in relation to the amount you have already transacted through FairPay.

1. The FairPay Price Guarantee only applies to rates offered through the online FairPay platform at www.fairfx.com/fairpay. Services we offer either in conjunction with any of our partner companies (including those hosted through www.fairfx.com or www.fairfx.net) or for reloading a FairFX Prepaid Mastercard® Card or for home delivery of cash are excluded from the FairPay Price Guarantee.

2. Our commitment only applies to the currencies listed as Payment Currencies on FairPay (www.fairfx.com/fairpay) on the "trade date" you executed a transaction with us on FairPay. The trade date is the date you entered into your legally binding contract with FairFX Plc on the FairPay platform.

3. Foreign Exchange markets are volatile and rates can change quickly. The rate guarantee will only apply if you can demonstrate that you obtained a better quote online from an automated platform (and not over the phone) from another provider within 30 minutes of the time of executing your FairPay transaction on the same trade date.

4. The quotation from the other provider to which your FairPay transaction is being compared must be from a foreign currency retailer based in the UK who makes international transfers in the normal course of business and must be available to a UK resident retail customer.

5. The quotation from the other provider to which your FairPay transaction is being compared must be from a foreign currency retailer acting as a Principal to the transaction and not an exchange rate from a peer-to-peer platform.

6. The quotation from the other foreign currency retailer to which your FairPay transaction is being compared must be for the same transaction value as your completed FairPay transaction and for the same transaction terms including value date and must be for deliverable FX.

7. The price compared will be the total price (including overseas transfer fees or charges, commission, and FX margins) charged by the other provider to which the FairPay rate is being compared, on the same trade date you used FairPay. The prices compared must be genuine like-for-like buy rate and sell rate prices offered to the general public in the normal course of business and not "interbank rates"* or prices only available to staff, club members or other selected groups or individuals, or any limited time special offers.

8. The guarantee only applies to FairPay transactions paid for by Bank Transfer or Debit Card and does not include transactions paid for by Credit Card.

9. The guarantee is only effective for FairFX customers who have executed a FairPay transaction with FairFX and have completed the transaction by paying FairFX and the final foreign currency delivery has been completed.

*Interbank rates are considered rates that are indicative of the market and shown on various market and competitor websites which are not actually available for buying or selling but are based on the mid-point of buy and sell rates for large transactions in international foreign exchange markets.

The verification process

10. We offer our FairPay Price Guarantee wherever we can verify, to our reasonable satisfaction, the alternative online price that you have been offered. Therefore, please email the following information to priceguarantee@fairfx.com in order to claim your refund of any difference versus the FairPay transaction performed with FairFX.

  • Your FairPay Order Reference Number and your personal contact details;
  • The details of the alternative money transfer service, including:
    • Business name;
    • the exact website address you obtained the quote from
  • Confirmation of the total price and currency offered to you by that provider (including commission, FX margin and fees) and confirmation of the times and dates you obtained the alternative quote. A time and date stamped screen shot of the quote may suffice. As this guarantee only applies to online platforms, an e-mail from a Broker is not acceptable confirmation.

Time limits

11. Given that the Foreign Exchange markets move so quickly, our commitment only applies if you are able to demonstrate that you have obtained an online quote from another provider within 30 minutes of the FairPay transaction executed with FairFX.

12. The FairPay Price Guarantee only applies to transactions carried out on UK Business days between 09.00 and 17.30 UK time.

Other Terms

13. In exceptional market conditions, FairFX reserves the right to amend the rate comparison terms and conditions.

14. In order to provide you with and refund or to discuss your refund request with you we will also require you name, address and telephone number. FairFX will not share your personal information with third parties. Please click here (www.fairfx.com/privacy) for more information on our Privacy Policy

15. The FairPay Price Guarantee commitment to refund any difference will not apply if you have not paid us in full for the FairPay transaction that is being compared.

16. The FairPay Price Guarantee shall not apply in the unlikely event of FairFX quoting a rate that is manifestly in error (for instance a rate of Interbank or better on any currency or transposing a US dollar rate for a Euro rate)

17. The FairPay Price Guarantee is only applicable to UK resident customers.

18. FairFX may, at any time, withdraw this commitment in respect of transfers that have not already been made, without notice.

19. This commitment is made by FairFX Plc., 3rd Floor Vintners' Place, 68 Upper Thames Street, London EC4V 3BJ. UK Company registration number 05539698 and Money Service Business registration number 12236741

20. The FairPay Price Guarantee is capped at the prevailing Interbank rate at the time of the FairPay transaction. The maximum rate differential that this guarantee will cover is the spread between the FairPay rate and the Interbank rate at the precise moment of the completion of the FairPay transaction.

21. The FairPay Price Guarantee refund is payable up to a maximum of £250 on a single transaction. Each customer is limited to one successful claim under this Guarantee in each calendar year.

22. The guarantee does not apply to variations in FairFX’s own rates as these are changed to reflect market movements.

FairPay Online Price Guarantee Terms and Conditions last updated on 16 October 2013.

1. Scope of this Agreement

We will deal with you on:

  1. these Terms of Business;
  2. any additional terms and conditions issued by us,
  3. together referred to as this 'Agreement'. These Terms are the only ones on which we will deal with you & govern the conduct of the parties in relation to any Order you may place to the exclusion of all other terms and conditions.

2. Instructions

You may give us instructions electronically or in writing. The only persons authorised to give us instructions is yourself. 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 client authorised and duly approved bank accounts.

3. The Services

3.1 We will provide facilities for you to buy and sell currency.

3.2 Once a Contract has been entered into, and whether or not a Contract Note has been issued, it cannot be altered, cancelled or rescinded.

3.3 When making an Order or entering into any Contract 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 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 a Contract has been entered into .

3.6 We may request from you, from time to time, and you will provide any information regarding you and your business and financial affairs, status and corporate 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.

4. Delivery and Payments

4.1 In the event of a Spot Trade, 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. You are not getting interest 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 (e-money regs.) Such funds may only be utilised through FairFX products and services.

4.4 FairFX accepts no responsibility in the event that the client sends currency to the incorrect client segregated designated currency account.

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 specified cut off times for the receipt and dispatch of electronic payments. We accept no responsibility for any consequence attributable to the arrival of funds or instruction of payment after the relevant cut off times.

4.7 All funds provided by you under a Contract (whether as security or otherwise) may be appropriated by us if we incur any liability in respect of any Trade or in the event that you are unable to pay sums due to us or breach of this Agreement.

4.8 FairFX may, at its discretion, make payments to third party introducers.

5. Default and Termination

5.1 We may close out all or part of any Trade from the market and/or terminate this Agreement without notice if:

5.1.1 you fail to make any payment for a Service when due in accordance with this Agreement;

5.1.2 you are in material breach of this Agreement or fail to comply with your obligations in respect of a Money Transfer order;

5.1.3 you are in breach of any relevant statute, regulation or regulatory regime;

5.1.4 it becomes unlawful for us to perform this Agreement;

5.1.5 any of the events specified above or anything analogous to them occurs under the laws of any applicable jurisdiction.

5.2 If you become aware of the occurrence of any event referred to in this Clause 5, you must give us immediate written notice.

6. Limitation of Liability

6.1 The following provisions set out our entire liability to you for any losses, costs (including legal costs), damages, expenses, taxes, charges or any other liability whatsoever ('Claim') except for death or personal injury caused by our negligence or the negligence of those for whom we are legally responsible that causes death or personal injury or for our fraudulent misrepresentation.

6.2 The limitation and exclusion of liability is set on the basis that you are aware of the volatility of the foreign currency market.

6.3 We are not liable for any Claim that arises as a result of currency fluctuation between the Order Confirmation and the Value Date, or as a result of your non-compliance with the terms of this Agreement or caused by the failure or delay of any third party in the transmission, provision or delivery of any Service.

6.4 We are not liable for indirect loss, or for loss of profits, management time, contracts, goodwill, anticipated savings, even if such loss was reasonably foreseeable.

6.5 Subject to provisions of this Condition 6, our total aggregate liability to you for any Claim will not exceed the total Sale Currency paid by you in respect of the Order giving rise to the Claim. Where no Order is placed, our liability is nil.

6.6 You will indemnify and keep us indemnified against all losses (including legal costs on a solicitor and own client basis) and liabilities incurred by us in the proper performance of services for you or in the enforcement of our rights hereunder and, in particular, losses and liabilities incurred as a result of:

6.6.1 any default in payment by you of any sum due under a Contract or any other breach of this Agreement;

6.6.2 our carrying out your instructions: or

6.6.3 our exercising our rights under Clause 5.1, but in such event we will have the right, as an alternative to our right to an indemnity, to set-off against any monies held by us on your account any amounts owed by you to us.

7. General

7.1 Nothing in this Agreement confers any benefit or any right to enforce this Agreement on any third party.

7.2 Nothing in this Agreement is intended to create a partnership, joint venture or agency relationship between the parties.

7.3 Clauses 6 and 7 will survive termination of any Order or termination of this Agreement.

7.4 These Conditions constitute the entire agreement and understanding of us and you and supersede all oral communications and prior writing relating to it.

7.5 We may amend these Conditions by notice in writing to us at any time and such amendment will be binding from the date of such notice. Any such amendment will not be retrospective or affect any rights or obligations that may already exist in respect of any Order.

7.6 Should any part of this Agreement be found by a court of law to be unenforceable or illegal, the remaining terms will continue in full force and effect.

7.7 You may not assign or transfer your rights or obligations under this Agreement without our express written consent. We may assign, transfer and/or novate our rights and obligations under the Agreement to any third party.

7.8 Any failure by either party to exercise and any delay, forbearance or indulgence by any party in exercising any right, power or remedy under this agreement will not operate as a waiver of that right, power or remedy or preclude its exercise at any subsequent time.

7.9 Other than an obligation to make payment, a party shall not be liable to the other for failure to perform its obligations under this Agreement or any Order if that failure was caused by events beyond its reasonable control. These events include, but are not limited to fire, flood, failure of third party systems, terrorist attack and war.

7.10 These Conditions will be governed and construed in accordance with English Law and the parties submit to the non-exclusive jurisdiction of the English Courts.

8. Warranties and representations

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

8.1 all information that you supply to us is complete, true, accurate and not misleading in any material respect;

8.2 you are acting as principal and not as another party's agent or representative;

8.3 you are not prevented by any legal disability or subject to any law or regulation that from performing this Agreement and any related transactions contemplated by it.

8.4 you comply with all relevant laws, regulations, exchange requirements and registration requirements;

8.5 all Orders are placed in the course of your usual trade or business and will be for your personal requirements and not for investment or speculation.

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

9. Tape recording of conversations and record keeping

You agree that we may:

a. record telephone conversations between you and us; and

b. use such recordings, or transcripts from such recordings, as evidence in any dispute or anticipated dispute.

10. Data protection

In entering into this Agreement you will be providing us with personal information within the meaning of the Data Protection Act 1998. You consent to us processing all such information for the purposes of performing this Agreement and also for the purposes of administering the relationship between you and us, We may use and/or disclose such information to any of our Associates for sales and marketing purposes unless you notify your objection to this in writing.