This website (or this “Website”) meaning www.equals.co, any associated domain or mobile app (or the “App”) is owned and operated by Equals Group Plc, Vintners’ Place, 68 Upper Thames Street, London, EC4V 3BJ (“Equals”).
Use and access to this Website and App is provided on the basis of the following terms and conditions.
Equals may from time to time and without first letting you know:
Permitted Access to the Website
Reliance on Information Posted
Links to other sites
Limitations on liability
Warranties and Representations You warrant and represent to us on a continuing basis that:
Privacy and data protection
Our Contact Details You can contact us:
Governing Law and changes to these terms and conditions
All use of the Website and App and these terms and conditions is governed by the laws of England and Wales.
All disputes arising out of the use of the Website or App and/or any services or products provided by Equals or any dispute relating to these terms and conditions shall be resolved by the Courts of England and Wales.
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 the 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 Equals 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.
You must let us know as soon as possible if you change your name, address, phone number or email address. If we contact you in relation to any product or service offered by Equals we will use the most recent contact details you have provided to us. Any email to you will be treated as being received as soon as it has been sent by us. We will not be liable to you if your contact details have changed and you have not notified us.
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.
Additional terms and conditions Provisions relating to placing of the order and when the contract between you and Equals is formed.
Orders through the Website and App must only be placed by individuals over the age of 18.
Please follow the steps on the screen in order to place an order. Equals reserves the right to ask for further information in order to process your order.
Equals will use various procedures to authenticate each transaction for the purposes of law and regulations including anti-money laundering regulations. Equals reserves the right to decline to continue to process any part of your order at any time.
You will be able to correct the details of your order at any time up until you press the 'Buy Now' 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.
Once you have placed your order for currency on the Website or App by pressing the 'Buy Now' button this will authorise Equals to action your order. You will not be allowed to cancel it other than subject to section 12.6. Should you wish to make any amendments to your order, Equals will use its reasonable endeavours to accommodate your needs. If you wish to amend your order please send an e-mail to email@example.com. Any such amendments will be subject to the applicable foreign exchange rates. If Equals agrees to amend your order you will receive an email to confirm this. Equals is under no obligation to accept any such amendments to your order and Equals accepts no liability or responsibility if it decides not to do so.
You may cancel your order by providing Equals with written notice of cancellation, by email to firstname.lastname@example.org, prior to delivery of your order. Equals 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 and this may result in a financial loss.
All orders are subject to acceptance by Equals and Equals will confirm such acceptance to you by sending you an email that confirms that the order has been accepted. The contract between Equals and you will only be formed once Equals sends you the confirmation email that your order has been accepted. Until that time there will be no binding arrangement for Equals to supply you with any foreign currency or other services. You should print and retain a copy of the confirmation email for your records.
Price, Availability and Delivery
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.
Equals has 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 Equals.
Equals is entitled to refuse, withdraw or cancel your order at anytime, for any reason.
Should any order be cancelled before being processed, your card issuer may suspend the associated funds for up to seven days, before releasing them back into your account. Please be advised that this is beyond Equals’ control. As such, Equals accepts no liability for such actions. Please note that Equals does not refund cash advance charges made by your card issuer and that a late cancellation fee may also be subject to a cash advance fee from your card issuer.
Cardholder Initiated Transactions
During the order process you will be provided with the option to save a debit or credit card with Equals. On future orders you will be able to use these saved payment card details to make payment.
Equals will ensure your saved card details are held securely in line with Payment Card Industry Data Security Standards. Your card details will only be visible in a truncated format.
You may at any time amend, change or delete your saved payment card.
Anti-money laundering policies
Equals as part of the Equals Group Plc is registered with and regulated by HM Revenue and Customs (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.
Equals 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 email@example.com.
Equals reserves the right at all times to refuse to process any currency order or terminate any contract 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 any such suspicious transactions to relevant law enforcement agencies.
Equals 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.
There is a statutory obligation on all Equals employees and their agents to report suspicious transactions to UK law enforcement agencies. Where any such report is made, Equals accepts no liability for any delay in transmission of, or confiscation of the funds.
These terms and conditions apply to your Equals Go prepaid Mastercard® card. You must read them carefully.
Introduction In these terms and conditions:
Scope of this agreement
Applying for and activating your card
Topping up your card
Using your card
We may ask you to stop using the card and return it to us or destroy it. We may, at any time, suspend, restrict or cancel your card or refuse to issue or replace it for the following reasons: • We are concerned about the security of your account or card • 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 ask you to stop using your card, we will tell you as soon as we can or when we are permitted to do so after we have reviewed these conditions: • If we are concerned about the security of your card or we suspect your card is being used in an unauthorised or fraudulent manner • If sufficient funds are not loaded on your 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 card in accordance with section 13 • 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
The authorisation of a transaction can include: • Authorising any single transaction • A series of recurring transactions (including transactions for an indefinite period) • Pre-authorising future transactions of a certain or uncertain amount
A card transaction will be regarded as authorised when you: • Enter your PIN or provide any other security code • Sign a sales voucher • Provide the card details and/or provide any other details as requested • Wave your contactless card over a card reader to pay. You may have to enter your PIN if it's your first transaction or after 5 consecutive transactions. The contactless feature will follow banking standard. • Insert your card into a card reading device for the purpose of making a payment • Insert your card and enter your PIN to request a cash withdrawal at an ATM • Make a request for a cash advance at any bank counter
Wallet alignment and Out of Currency Transactions
Cancellation and expiry of your card
Keeping your card secure Taking care of your card, PIN and other security information is essential to help prevent fraud and protect your Equals account. Please make sure that you follow the advice given below.
Liability for losses
Your right to a refund
Fees and limits
14.1 We do not charge any fees for checking your online balance and transactions. However, the following fees do apply:
|Card order fee||FREE|
|Card load fees||FREE|
|Monthly management fee||FREE|
|Expired card administration fee||£2.00 per month or currency equivalent on expired cards with leftover balances|
|Point of sale||FREE when in one of 15 currencies|
|UK ATM fee1||£1.00|
|International ATM fee1||£1.00|
|Out of currency fee2||1.75% of the value of the transaction when spending outside 15 currencies.|
|Over the counter cash withdrawal||£2.00 flat fee + 3.75% of the transaction amount.|
14.2 All fees will be debited in GBP. If there is an insufficient balance in GBP, funds will be deducted from other currency wallets in the following order: 2.EUR 3.USD 4.AUD 5.CAD 6.NZD 7.HKD 8. CHF 9 .JPY 10. DKK 11. ZAR 12. PLN 13. SEK 14. NOK 15. HUF.
14.3 If we decide to increase or impose any new fees, we will tell you by email, text, or post, at least two months before any changes take effect.
15. How to get in touch with us
You can contact us:
15.1 Via the Contact page of our website.
15.2 By phone on +44 (0) 20 7778 9300 between 08:30 and 17:00 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.
15.3 Lost or stolen cards can be reported on our app or your online account.
15.4 By post at Equals, PO Box 3634, Chester, CH1 9NL.
16.1 If you are unhappy in any way with your card, please tell us so we can try to resolve the situation. You can write to us via email or post, or call us on +44 (0) 20 7778 9300 between 08:30 and 17:00 from Monday to Friday (excluding bank holidays). Calls are charged at your standard network rate.
16.2 We will try to resolve any complaints you have about your payment method 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).
16.3 You can request our complaints procedure via email, phone or by visiting our website.
16.4 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.
16.5 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. Financial Ombudsman Service website.
17.1 The card is an electronic money product. Although it is regulated by the Financial Conduct Authority (FCA), it is not covered by the Financial Services Compensation Scheme (FSCS). No other compensation scheme exists to cover losses claimed in connection with the card. This means in the unlikely event that Valitor Payment Services Ltd becomes insolvent, the funds held on your Equals account may become valueless and unusable and as a result you may lose your money. However, as a responsible e-money issuer, Valitor Payment Services Ltd ensures that once it has received your funds, they are deposited into a secure account specifically for the purposes of redeeming transactions made by your card. In the unlikely event that Valitor Payment Services Ltd becomes insolvent, these funds should be protected on your behalf.
18.1 We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you 60 days prior notice. If we do this, your rights will not be affected.
18.2 We may transfer the unused balance on your card to a new prepaid card provider other than Valitor Payment Services Ltd at any time, on giving you at least 60 days notice. If there are new terms and conditions, we will provide these to you. Unless you advise us within the 60 day notice period that you do not want the new card, you agree that we can transfer the balance on your existing card to the new card when you activate it.
19. Commission charges (padding)
19.1 Should you place a transaction using an Equals card in a currency that the card is not denominated in, we will authorise a further 2% of the value of the transaction to cover any difference in exchange rates while the transaction remains authorised.
The 2% padding covers any difference between the rate you received initially and the average rate on the date that the transaction finalises. In nearly all cases, the rate finalises at the same rate you purchased at and the padding marked on the statement as ‘auth commission’ will be returned to your card as an available balance as soon as the transaction finalises.