Policies, Terms & Conditions

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U Account Terms and Conditions

  1. The U Account and U Card

    1. These U Account Terms and Conditions are between you (the account holder) and U, a trading name of Shelby Finance Ltd, a subsidiary of Morses Club PLC (U/we/us/our). By using your U card, U account or the U app, you are agreeing to these terms.
    2. The U Account and U Card is an e-money product so is not protected by the Financial Services Compensation Scheme (FSCS). However, your funds are held in a segregated account, which may only be used for the purpose of holding customer funds, and which is protected by safeguarding requirements under the Electronic Money Regulations 2011. These protections mean that in the unlikely event Modulr FS Ltd became insolvent, the return of customer funds would take priority over all other creditors and uses other than in one respect, which is the cost of the insolvency proceedings. However, you should be aware that in an unusually severe insolvency event, some or all of your funds could be at risk and you could lose your money.
    3. Your U Account is an e-money account with additional features, including Direct Debits and Faster Payments.
    4. Your U card is a VISA card provided by Modulr FS Ltd. You must activate your card as soon as you receive it, by following the link we emailed to you upon your application for a U Account.
    5. Protecting your privacy is very important to us. Please review our Privacy Notice to understand our commitment to maintaining your privacy. It also contains important information on the personal data we collect about you, how we process your personal data and who your personal data might be shared with.
    6. Your agreement with us includes these terms, along with the Modulr Terms and Conditions and our Privacy Notice. You can request a copy of any of these documents, by contacting us.
  2. Definitions

    In these terms and conditions, the following words and phrases have the meanings shown next to them:

    Continuous Payment Authority or Recurring payment – When you have given a company permission to regularly take money from your card; the company can request payment from your card whenever it is deemed that you owe them money

    Direct Debit – The customer permits someone else (recipient) to instruct the account provider to transfer money from the customers account to that recipient. The account provider then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary

    E-money – Electronic money: the electronically stored monetary value of funds held in your U Account. Funds received into your U Account may be used for the purpose of making payments or transactions outside of U and its partners. E-money will be referred to throughout these terms and conditions as 'money'. For regulatory purposes, where money is referred to in this document, this denotes 'e-money'

    Extra Account – A sub-account within your U Account. When you open a U Account you will automatically have one Extra Account set up which will have its own unique account number and payment facilities. You can set up Extra Accounts in your U Account and make payments to and from the Extra Account(s). You will not be able to make payment to outside your U Account from any further Extra Accounts you set up

    Fees – A variety of charges that can be raised for purchase and ongoing use of the U Card and U Account

    Main account – The first account you were issued with when you applied for a U Account.

    PIN – Personal identification number, i.e. the security number provided for use with the card and may be required to complete a transaction

    Recipient – Also known as a payee. A party that you send a payment to from your U Account. You can choose whether you would like to save a recipient to your U Account for ease of payments to this party in the future or you can choose to input the recipient’s details for each payment

    Standing order – The account provider makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customers account to another account.

    Supplier – A retailer, merchant or other supplier of goods and/or services that accepts payment by means of a card, card number, PIN or card and signature

    Supplier’s bank – the organisation used by the supplier for the purposes of receiving payments arising from transactions

    Transfer/Payment – A payment to or from your U Account or U Extra Account(s). A transfer can be a one-off payment or a regular automated payment such as a standing order or direct debit. Payments that you can make from your U Account include card payments, direct debits, standing orders, single payments, ATM withdrawals and continuous payment authorities. Payments can be made out of your U Account by inputting your details online, over the phone or in person. Payments in to your U Account include Faster Payments in, BACs payments in, transfers in from another U Account or Extra Account or cash payment in

    U Account – This is your e-money account as a whole which includes the main account you were issued with when applying for U, along with your Extra Account which was set up automatically when you joined U, and any other Extra Accounts you may have set up

    U Card – A prepaid Visa Debit card provided for use with your U Account

    Verifying your identity – The confirmation of your personal identity and information through checks performed when you open your U Account or upon requests for further information

    Website – The website, www.uaccount.uk, operated by Shelby Finance Ltd. trading as U

    We/us/our – U (a trading name of Shelby Finance Ltd. and acting on their behalf)

    Working day – A day between and including Monday to Friday, between 9am and 5pm (UK time) and Saturdays between 10am and 5pm (UK time) except for bank or public holidays in England and Wales

    You/your – The person who has opened a U Account and is authorised to use the card and account as provided for in this agreement

  3. Account set up and access

    1. You must be 18 or over and a UK resident to open and hold a U Account.
    2. To comply with current regulations regarding Strong Customer Authentication, you must have a mobile phone to set up this account.
    3. Applications for a U Account are only available through our mobile app. For all the information you need to provide when applying and why we take this information, please read our Privacy Notice.
    4. Upon verifying your identity and being accepted for a U Account you will be issued with a U Card and an account number and sort code for your main account. You must activate your card to be able to use your U Account.
    5. When you apply for a U Account, you will choose between our PAYG account and our £10 monthly fee account. You can change this at any time by logging in to your account through the app or the website and following the steps set out under the Profile section of your account.
    6. A mobile phone will be required to receive a One Time Password whenever you perform certain actions on your account, or when you make purchases with certain retailers who use the 3D Secure service. If you do not have a mobile phone, you will not be able to use the U Account. More information on 3D Secure can be found in the Modulr Terms and Conditions.
  4. Account use

    1. Your U Account is a personal account and it should not be used for business purposes.
    2. We reserve the right to restrict or limit the ability to use the U Account for gambling and investing, including trading in cryptocurrency or other currencies.
    3. We reserve the right to request information at any time regarding the source of the funds used to pay into your U Account. We may also suspend use of the account/card where this is the case, pending the satisfactory resolution of our queries.
    4. We may close, suspend or restrict your account, card or PIN on reasonable grounds relating to:
      1. the security of your account, card, card number or PIN;
      2. the suspected unauthorised or fraudulent use of your account, card or PIN;
      3. or at our discretion if you abuse our staff in any way;
      4. the deliberate use of your account or card to make payments that exceed your available funds, leaving you with a negative balance.
    5. We will, if possible, inform you before stopping, suspending or restricting your account, card or PIN that we intend to do so and the reasons for doing this. If we are unable to do so then we will inform you immediately afterwards. The requirement to inform you does not apply where it would compromise reasonable security measures or it would be unlawful to do so.
    6. In addition to the above, if you use your U Account in conjunction with our EDraft product, we will also monitor your account usage to help us understand the affordability of the EDraft product to you.
  5. Extra Accounts

    1. Your U Account is set up with your main account and one Extra Account. You may set up further Extra Accounts, with a maximum of 10 additional Extra Accounts allowed.
    2. The Extra Account set up upon account opening will have its own account number and sort code. You can use this Extra Account to make payments to and from the account.
    3. Any further Extra Accounts that you set up will not have their own account number and sort code and as such you will not be able to use these to make payments.
    4. Any funds in your main account or any of your Extra Accounts are separate to each other, which means that if you have a payment set up on your main account or Extra Account you must ensure that you have funds in that account to make the payment and any fees.
  6. Paying In

    1. All information on how to pay into your U Account, including how long it takes for payments to show in your account, can be found by logging in to your account and choosing ‘More on Payments’. You can also read our FAQ for help on paying in.
    2. If you pay into your account via PayPoint, these payments will be subject to our daily and monthly limits, which you can find on our website or in the U Money app.
    3. You can only pay into the U Account and U Card in pound sterling (GBP).
  7. Making Payments

    1. All information on making payments from your U Account can be found by logging in to your account and choosing ‘More on Payments’.
    2. You must make sure that you have enough money in your account to make a payment, including any fees we may charge you. Payments due to leave your U Account where there are not sufficient funds to cover both the payment and the fee for the payment will decline.
    3. If you send a payment to an account using incorrect details, we will help you in attempting to retrieve the funds. We offer no guarantee that the funds can be retrieved.
    4. We may refuse to make a payment if:
      1. it is not in accordance with these terms and conditions and the information provided on the website, or
      2. if the fees applicable would take you into negative balance, or
      3. if the payment is to an organisation to which payments are proscribed by law, or
      4. if the payment is to an organisation to which we are unable to make payments.
    5. You may choose to temporarily block your U Card on the website or the app through the card management area. This is the action to ‘freeze’ your card. If you have frozen your U Card, payments cannot be made from your U Card. You can choose to unblock, or ‘unfreeze’ your U Card at any time by logging in to your account and completing the action through the card management area.
    6. Should we block your U Card and/or account, no payments will be made from your card and/or account until the card and/or account has been unblocked. U accepts no responsibility for payments that were not paid into or out of your card and/or account as a result of a block on your U Card and/or account.
    7. You must not make a payment that would leave your account in a negative balance.
    8. There are some rare occasions where your U Account balance may be a negative amount. It is your responsibility to pay funds into your U Account immediately to cover any negative balance on your account. If you persistently have a negative balance or fail to pay in to cover a negative balance immediately we reserve the right to close your U Account.
    9. If a payment into your U Account is automatically recalled as a duplicate transaction or a transaction sent in error, the payment will be debited from your U Account. Should a recall of funds mean that your account is in negative balance it is your responsibility to ensure that funds are paid into your U Account immediately to cover the negative balance.
    10. We reserve the right to transfer funds between any of your Extra Accounts and your main account to cover any negative balances that may be in your main account or your Extra Accounts. We are not responsible for any missed payment(s) from your main account and/or your Extra Accounts as a result of funds being transferred to cover any negative balance in your U Account and/or Extra Account(s).
    11. We reserve the right to engage the services of a third-party debt collection agency to assist in the collection of any negative balance(s) on your account and we may take legal action to recover any outstanding amounts. This may have an adverse impact on your credit rating.
  8. Direct Debits

    1. We will automatically cancel any Direct Debits that have been set up on your U Account and have not been paid in 13 months. We do not accept responsibility for Direct Debits that have been cancelled if they have not been used in a 13-month period.
    2. If a Direct Debit payment fails because you do not have enough money in your account, you will be charged a Failed Direct Debit Fee, which will be debited from your account the next time you pay in. Details on this fee and others relating to your account can be found on our website, either in the Profile section of your logged-in account, or https://www.uaccount.uk.
    3. If a Direct Debit fails for two consecutive payments, we will cancel the Direct Debit mandate and inform you of this in one of the ways set out under the section How we’ll contact you.
    4. You may cancel a Direct Debit up to 2 pm on the day before the payment is due to be taken. You can do this on our website or through our app, by visiting your list of Direct Debit payments and following the steps set out for each Direct Debit you wish to cancel. You should also advise the person or organisation you are paying that the instruction has been cancelled. You will still be responsible for any money you owe. If you do not cancel a Direct Debit by the deadline specified above, we cannot accept responsibility for any payments that are subsequently taken and you will need to contact the person or organisation you are paying.
  9. Fees and Limits

    1. The fees and limits relating to your account can be found on our website, or the app, either in the Profile section of your logged-in account, or https://www.uaccount.uk.
    2. If you have chosen our Pay As You Go (PAYG) product and you don’t make any chargeable transactions in a calendar month, a £1 administration fee will be applied to your account for that month. This will be taken on the first calendar day of the next month, or when funds are next paid into your account if your balance at the time is less than £1.
    3. If you have chosen our £10 account, your monthly fee will be taken on the same date each month. If this date is the 29th, 30th or 31st and the current month does not contain that date, your monthly fee will be taken on the 1st of the next month.
    4. If you do not have sufficient funds in your account to cover the monthly fee, the fee will be deducted from your account the next time funds are paid into your U Account.
    5. If you have partial funds in your account to cover your monthly fee, the partial amount will be debited from your U Account and the remaining owed on your monthly fee(s) will be debited from your account the next time funds are paid into your U Account.
    6. If we are unable to take your monthly fee for one month, the next month we will attempt to take the monthly fee for both the month owed and the current month.
    7. If we are unable to take your monthly fee for two consecutive months, you will be moved to our Pay As You Go account. We will inform you of this in one of the ways set out under the section How we’ll contact you. You can switch back to the £10 account at any time by logging in to the app or website and following the steps set out in your account Profile.
    8. We will provide you, via the Website, with an annual statement of Fees which will set out all Fees incurred during the relevant period for services linked to your U Account. This will be provided free of charge. You may also request us to provide this to you on paper.
  10. 10.Transactions

    1. You must not use your U Card for:
      1. Pre-authorised regular payments;
      2. Transactions at pay-at-pump petrol pumps;
      3. Transactions for cash (other than cash withdrawal and instore cashback with participating retailers) including, for example, cash from a bank, money orders, travellers’ cheques, foreign exchange, or bureau de change, or any illegal purposes;
      4. A limited number of specified other transactions as set out at www.uaccount.uk.
    2. Your card cannot be used in situations where it is not possible for the supplier to obtain online authorisation that you have sufficient balance for the transaction. For example some transactions on trains, ships, and some in-flight purchases.
    3. Any use of your account, card, card number or PIN constitutes your authorisation and consent to a transaction. You provide authorisation when you input your PIN in person when paying for something, by providing your card to make a transaction or a number of transactions (may be referred to as a continuous payment authority), when you input your card number during an online checkout process or when you set up a standing order, payment or Direct Debit to pay a person or organisation.
    4. Where you have provided a person or organisation with your consent to a recurring payment or continuous payment authority, you can contact us to cancel this. You must also contact the person or organisation you are paying. You will still be responsible for any money you owe. You must contact us before 2 pm at the latest on the working day before the payment is due. If you do not cancel the payment by the deadline specified above, we cannot accept responsibility for any payments that are subsequently debited to your card and you will need to contact the person or organisation you are paying to cancel the payment.
    5. We may refuse a transaction or suspend or terminate the right to pay into your account. We may do this if:
      1. A transaction might take you over your available funds in the account; or
      2. A transaction might take you over any of your account or card limits; or
      3. We reasonably believe that we need to do so to keep to the rules of the payment system under which your card is issued; or
      4. We reasonably believe that there are needs to do so to comply with any law or as a matter of good practice.
    6. If you notice a payment out of your account that you did not authorise, you should use the ‘Dispute a Transaction’ link which can be found on your account overview page, or you can contact us in ways set out at www.uaccount.uk. We may require additional information from you to aid any investigation into an unauthorised transaction on your account.
    7. If we find that a payment transaction was not authorised by you and you have provided sufficient information to us, we will refund the amount of the unauthorised transaction to you on the same working day if we are notified before 4 pm, or by 10 am on the following working day if we are notified of an unauthorised transaction after 4 pm. Where applicable, we will refund any fees that have been incurred as a result of the transaction taking place. These timescales do not apply if we have reasonable grounds to suspect fraud on your part.
    8. You will be liable for:
      1. All payments and any losses in respect of unauthorised transactions where you have acted fraudulently;
      2. All payments and any losses if you intentionally or negligently failed to take reasonable steps to keep the security features of your card safe or have failed to comply with these terms and conditions.
    9. We may debit your account with any amount refunded if we subsequently become aware that the payment was authorised by you.
    10. If it is found that you have deliberately made a false claim that a payment was unauthorised we may report this to the relevant authorities.
  11. Redemption

    1. You can redeem all or part of your balance by contacting us in ways described on the website up until the date that is 6 years after the expiry date shown on your card or 6 years after your account has been closed under conditions 12or 13 in this agreement. We will transfer any redeemed funds into a bank account that is in your name. We may request proof from you of the account name. You may be charged a fee to cover the transfer of these funds.
  12. Liability

    1. You must always make sure that you keep your U Card and your personal security details secure. You should ensure that you:
      1. Do not allow anyone else to use your card;
      2. Do not reveal your PIN and never write down your password(s), PIN or any security information you have given us unless you do this in a way that would make it impossible for anyone else to recognise any of that information;
      3. Only release the card, card number or PIN to make (or try to make) a transaction.
    2. If your card is lost or stolen or someone else finds out the PIN, or if you think your card, card number or PIN may be misused, you must log in to the website or app and notify us that your card is lost/stolen using the card management area. Or, you can call us on 0330 088 3840 (we have a 24-hour service to report your card as lost or stolen) so that we can stop your card and PIN
    3. If you find the card after you have reported it as lost, stolen or misused, you must cut it up and tell us as soon as you can. If your card or any replacement card, is lost or stolen, once you have reported it you can request a replacement online or by contacting us in ways described on the website. We may charge a fee for the replacement card – you can find all our current fees on the website at www.uaccount.uk.
    4. You may not be liable for any use of the card, card number or PIN by another person who does not have your permission to use it or if it is lost, stolen or destroyed, unless:
      1. You agreed to that person having your card, card number or PIN, or through gross negligence or carelessness, failed to comply with condition 11.1, in which case you may be liable for any use that occurs before you tell us in accordance with these terms and conditions; or
      2. You acted fraudulently, in which case, to the extent permitted by law, you may be liable for misuse of the card, card number or PIN.
    5. You may only be liable to a maximum of £35 resulting from transfers out of your account made by Faster Payments arising from unauthorised access to your account. The £35 liability limit applies to each instance of loss, theft or misappropriation and not each transaction.
    6. If your card is used without your permission ,is lost or stolen, or if you think the card may be misused, we may disclose to law enforcement agencies any information which we reasonably believe may be relevant.
    7. We will not be liable for:
      1. Any abnormal or unforeseeable circumstances outside our reasonable control (for example, a failure of computer systems which happens for reasons outside our reasonable control or any industrial action which happens for reasons outside our reasonable control) if this prevents us from providing our usual service;
      2. Any person refusing to accept payment;
      3. Any cash dispenser failing to issue cash;
      4. The quality, safety, legality, or any other aspect of any goods or services purchased with the U Account or U Card; or
      5. The way in which you are told about any refusal or delay.
  13. Changes to these Terms and Conditions

    1. We may change any of these terms and conditions, including changes to fees and charges, or to introduce new terms. We will give 60 days’ prior notice for material changes to the terms and conditions; should the change have no material effect to you or be to your benefit, changes to these terms and conditions will become effective immediately. We will notify you of changes to these terms and conditions by ways described on our website.
    2. If we change these terms and conditions, the new terms and conditions will be available at www.uaccount.uk from the date we notify you of the change.
    3. You will be deemed to have accepted any change to these terms and conditions unless you notify us of any objection before the proposed date of the change. Between receipt of the notice and the proposed date of the change, if you notify us that you do not accept the change, this agreement will terminate immediately and, subject to condition 10, you can redeem your total balance at that time without charge.
  14. Closure Rights

    1. If you change your mind about having the account and card, you can close it within 14 days of the date on which you receive confirmation of your application being approved by contacting us in ways described on our website. You will not be charged for closing your account and cancelling your card during this period. We will refund to you any balance remaining on the card.
    2. You can also close your account and cancel your U Card any time after the 14 days by contacting us; you will not be charged for closing your U Account or cancelling your card. You should also cut your U Card in half through the magnetic strip and chip.
    3. You agree that by requesting for your account to be closed we will commence the closure process. This includes:
      1. Cancelling payments due to leave your U Account and Extra Accounts
      2. Cancelling Direct Debits on your U Account and Extra Accounts
      3. Rejecting incoming payments to your U Account
      4. Closing all Extra Accounts
    4. Closing your account does not guarantee that payments that are being processed will not leave your U Account or Extra Accounts. We do not accept responsibility for payments that are made from your U Account following a closure request.
    5. 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 U Card or U Account before the account is closed or the card expires.
  15. Ending this agreement

    1. We may terminate this agreement at any time. We will give you 60 days’ prior notice to termination of the agreement unless it is an exceptional circumstance, which includes abuse to staff and material breaches to these terms and conditions.
    2. Reasons for ending the agreement may include:
      1. If this agreement or your U Card expires;
      2. If you break an important part of this agreement, or repeatedly break the agreement and fail to resolve the matter in a timely manner;
      3. If you act in a manner that is threatening or abusive to our staff, or any of our representatives;
      4. If you fail to pay fees or charges that you have incurred or fail to pay back any negative balance on your card; or
      5. If your account has not had any transactions on it for a consecutive 90 day period. Please note that any fees on the PAYG for non-chargeable transactions do not count as a transaction in this instance.
    3. We may also close your account and cancel your card immediately if we suspect fraud or misuse of your card or account or have any other security concerns, or need to do so to comply with the law.
    4. We may close your account if you use it as a business account.
    5. You can terminate this agreement by contacting us in ways described on our website, subject to conditions 11 and 14.
    6. Once the termination of your account commences, all payment mandates out of your account will be cancelled. Any payments into your account will be returned to the sender. If a payment is in the process of being paid out when the closure process commences there is a possibility that the payment may still go through. It is your responsibility to ensure that you have made alternative arrangements for payments in to and from your U Account. We do not accept liability for any payments made or missed as a result of the account termination process commencing.
    7. If you do not redeem your full balance within 6 years of your card’s expiry date, this agreement terminates. If this happens, you will not be entitled to reclaim any funds that were held in your U Account upon termination.15.8 If you waive any remaining balance in your account upon closure the funds will be transferred into an account held by us and your account will be closed.
  16. General

    1. By entering into this agreement you agree that we may use your information in accordance with our Privacy Notice
    2. We may monitor and/or record telephone calls between you and us or service providers.
    3. We may record all communications you have with us including social media interactions.
    4. You must provide us with an email and postal address and mobile phone number, and let us know of any changes to this information. You must advise us immediately of any changes to the details we hold for you; it is your responsibility to ensure that your details are up to date at all times.
    5. We may transfer our rights or obligations under this agreement or arrange for any other person to carry out our rights or obligations under this agreement. You may not transfer any of your rights or obligations under this agreement.
    6. We can delay enforcing our rights under this agreement without losing them.
    7. If we cannot enforce any paragraph, condition or part of a paragraph or condition under this agreement, it will not affect any of the other paragraphs, conditions or the other part of the paragraph or condition in this agreement.
    8. This agreement is governed by the law of England and Wales. The language of this agreement is English and all notices and information given under this agreement will be in English.
  17. Payment services information

    1. This condition 17 only applies if the supplier’s bank is located within the qualifying area and the payment services being carried out are transacted in sterling or euro.
    2. We will ensure that any transaction you make is credited to the supplier’s bank, or that returned funds following redemption or cancellation are credited to your bank by the end of the business day following the day on which the transaction order is received, with the following exceptions:
      Transactions that are not:
      1. Executed wholly within the qualifying area in euro under a payment scheme which operates across the qualifying area;
      2. Executed wholly under a payment scheme which operates across the qualifying area and executed wholly in the United Kingdom in sterling; or
      3. Executed wholly under a payment scheme which operates across the qualifying area and involving only one currency conversion between the euro and sterling, provided that—
        1. the currency conversion is carried out in the United Kingdom; and
        2. in the case of cross-border payment transactions, the cross-border transfer takes place in euro.
        will be credited by the end of the fourth day following the day on which the transaction or order is received.
    3. If you make a payment directly from your account to another person within the qualifying area and it arrives later than it should have, you can ask us to contact the receiving bank to ask that they treat the payment as if it was made on time.
    4. In the unlikely event that you spend on your card without knowing the exact amount at the time of authorising the payment (for example, at a hotel), we won’t knowingly block any additional funds in your account beyond the amount requested from the merchant. As soon as we can confirm the exact amount you need to pay, we’ll release any additional blocked funds straight away.
    5. If you use your card or provide your card details to a supplier to make a transaction before you know the amount that is going to be charged to your card, then you may be entitled to request a refund if the amount is greater than expected, provided that you tell us within eight weeks of the date the transaction is deducted from your balance. You will not be entitled to a refund if you have been told by us, or the supplier, of the amount of that transaction at least four weeks before the transaction is due to be deducted from your balance, and you consented to the transaction.
    6. On receipt of such a request under condition 17.5, we may require you to provide us with information to ascertain whether the conditions in condition 17.5 have been met. Within 10 days of receiving a request from you under condition 17.5 or on receiving any additional information required under this paragraph, we will provide a refund or justify why we are refusing the request.
    7. We are liable for the correct execution of the transaction unless we can prove that the transaction was received by the supplier’s bank, in which case the supplier’s bank is liable to the supplier. You may request that we make immediate efforts to trace an incorrectly executed transaction and notify you of the outcome.
    8. When a supplier initiates a transaction it is the supplier’s bank that is liable for the correct transmission of the relevant details to us. If the supplier’s bank can prove that it is not responsible for a transaction that has failed or has been incorrectly executed, we will be responsible for you.
    9. If we are responsible for an incorrect amount of a transaction being deducted from your balance, we will correct the error. If we are responsible for a transaction being deducted from your balance which you did not authorise, we will refund the amount of the transaction to your balance and treat the transaction as if it had never occurred. You must inform us of any unauthorised or incorrect transaction as soon as possible and in any event no later than 13 months after the debit date. If you do not do so, we may not be liable.
    10. We are not liable if you make a payment to the wrong recipient. In such a case, we will make reasonable efforts to recover the funds involved. If you let us know of a payment you’ve paid to the wrong person by mistake over 13 months later, we’ll do our best to trace the payment, but we may charge you a reasonable fee to do this.
  18. Complaints

    1. If you would like to make a complaint or contact us for any other reason connected to these terms and conditions please contact us in ways described on the website. We have procedures in place to make sure that we handle your complaint fairly and quickly, you can view our complaints procedure here. However, if you are not satisfied with the outcome of your complaint, you can write to the Financial Ombudsman, Exchange Tower, London, E14 9SR. Telephone: 0800 023 4 567 from landlines, 0300 123 9 123 from mobile phones or +44 20 7964 0500 for calls from outside the UK. Email: [email protected]
  19. Contacting us

    1. You can contact us in the ways set out on our website.
  20. How we’ll contact you

    1. We’ll contact you by email, secure message or by telephone. We’ll also send you push notifications if you have the U Money app.
  21. Fee Information Documents

    1. . We will provide you with a Fee information document, prior to you entering into this Agreement, which will set out all associated Fees of using your U Account. This Fee information document (as updated from time to time) will be available at any time from the Website, throughout the duration of this Agreement. This will be provided free of charge. You may also request us to provide this to you on paper. You can view the current Fee Information Documents using the links below:

Fee Information Document - PAYG (updated November 2020)

Fee Information Document - £10/month (updated November 2020)

Updated January 2021

The Modulr Account Terms and Conditions; Important information you need to know

The Modulr Account Terms and Conditions

Please read these Terms and Conditions carefully before you agree to use an Account or any related services provided by or through us.

These Terms and Conditions, together with the Introduced Client Terms of Business constitute the entire agreement between Modulr and you.

By signing the Modulr Account Terms and Conditions you accept the terms of the Agreement, or by agreeing to open an Account and/or using our services, you accept these Terms and Conditions. If there is anything you do not understand, please contact Customer Services using the contact details provided to you by the Partner Platform.

  1. Definitions

    3DS - means the EMV 3DS service offered by us for you or a Cardholder to use when you or a Cardholder make a purchase or place an order on the internet with your Card.

    Account - The electronic money account, also known as Modulr Account provided by us in accordance with these Terms and Conditions.

    Account Information Service Provider – means a third party payment service provider who is authorised by or registered with the Financial Conduct Authority or another European regulator to provide online account information services, who, with your permission will be able to access certain online account information on one or more payment accounts held by you to give you a consolidated view of your payment accounts.

    Account Limit – any limit that applies in relation to your Account and/or Card, such as account maximum balance, and limits on receiving and sending payments from your Account as referred in paragraph 2.

    Account Owner – The entity legally responsible for an Account.

    Agreement - The agreement for your Account made up of these Terms and Conditions, together with the Introduced Client Terms of Business, which constitute the entire agreement between you and Modulr.

    Application Programming Interface (API) – means the interfaces provided by Modulr to the Introduced Client (and the Partner Platform on the Introduced Client’s behalf) to directly instruct Accounts via the Introduced Client’s or the Partner Platform’s own application.

    AML Policy - Modulr’s written policy on anti-money laundering and counter terrorist financing as may be amended from time to time by Modulr.

    Applicant – A customer of the Partner Platform who applies for Modulr Products but is yet to be accepted by the Modulr as an Introduced Client.

    Available Balance - The value of funds available on your Account.

    Bacs Credit – Means Bacs Direct Credit. A service enabling organisations to make payments to an account which takes 3 Business Days for the funds to be cleared.

    Business Days - Monday to Friday between the hours of 9am-5pm but does not include bank holidays, or public holidays in the United Kingdom.

    Card – means a Virtual Card or a Physical Card.‎

    Cardholder - means the individual authorised to use the Physical Card issued to you.‎

    Card Scheme -Mastercard and/or Visa or such other payment network through which Card Transactions are processed as may be made available to you from time to time.‎

    Card Transaction –means a Virtual Card Transaction or a Physical Card Transaction.‎

    CHAPS – the Clearing House Automated Payment System, a service enabling organisations to make same-day payments to an account within the UK, within the CHAPS operating days and times.

    Chargeback has the meaning given to it in Schedule 1 of the Introduced Client Terms of Business.‎

    Confidential Information - any information (whether or not recorded in documentary form, or stored on any magnetic or optical disk or memory) relating to: the business, products, affairs, strategy, contracts, customer relationships, commercial pipelines, business contacts, prospective customers, existing customers, business models, customer pricing, management systems, business methods, corporate plans, maturing new business opportunities, research and development projects, marketing and sales information, sales targets and statistics, discount structures, suppliers and potential suppliers, source codes, computer programs inventions, know-how, technical specifications and other technical information relating to products and services.

    Customer Services - The contact centre for dealing with queries about your Account. Contact details for Customer Services can be obtained from the Partner Platform.

    Data Protection Laws – the following, to the extent they are applicable to a party: the Data Protection Act 2018, the General Data Protection Regulation (EU) 2016/679, the Electronic Communications Data Protection Directive 2002/58/EC, the Privacy and Electronic Communications (EC Directive) Regulations 2003 and all applicable laws and regulations relating to processing of personal data and privacy (as amended or replaced from time to time), including where applicable the guidance and codes of practice issued by the Information Commissioner (in the United Kingdom) or other applicable supervisory authority;

    Direct Debit – a payment collected via UK Direct Debit scheme operated by Bacs from or to your Account.

    Direct Debit Collection – a payment collected to your Account via UK Direct Debit scheme on the basis of an instruction given by you to the payer’s payment service provider.

    Direct Debit Guarantee – means the refund terms applicable to Direct Debit Mandates as set out on the direct debit form or direct debit confirmation provided to you by the payment recipient.

    Direct Debit Mandate – a payment collected from your Account via UK Direct Debit scheme on the basis of a mandate permitting someone else (recipient) to instruct us to transfer ‎money from your Account to that recipient.

    Due Diligence Procedure - Modulr’s procedures for carrying out due diligence on Introduced Clients in order to comply with its policies and regulatory obligations.

    Faster Payment – A service allowing you to make and receive electronic payments in the UK which is received by the recipient bank within 2 hours provided that the receiving organisation or bank is part of Faster Payments Scheme.

    Fees – where relevant, those fees payable by the Introduced Client.

    Information – Means any information related to the organisation, and any personal information related to Account Manager or the Cardholder.

    Intellectual Property Rights – means without limitation, all patents (including models and inventions), trademarks, service marks, trade names, domain names, business names, copyrights, design rights, database rights, rights to or in computer software, know-how, trade secrets, rights to or in confidential information and all other intellectual property rights and rights or forms of protection of a similar nature or effect which may subsist anywhere in the world whether or not registered or capable of registration, together with all applications for registration of, and any licence to use, any of the foregoing and "Intellectual Property" shall be construed accordingly;

    Introduced Client – Any client of Modulr which has been introduced by the Partner Platform and whose account is operated by the Partner Platform based on instructions the Partner Platform receives from the Introduced Client (where relevant).

    Introduced Client Terms of Business - The terms on which Modulr provides Modulr Products to the Introduced Client.

    Merchant- means a merchant authorised to accept Card Scheme-branded Cards.‎

    Modulr – Modulr Finance Ltd, a company registered in England and Wales with number 09897957 and whose registered office is at 1 Hammersmith Broadway, London, W6 9DL. Modulr Finance Ltd (FRN: 900699) is a registered agent of Modulr FS Ltd.

    Modulr Account Terms and Conditions - This agreement, between Modulr FS and the Introduced Client which governs the terms on which the Introduced Client may use its Account.

    Modulr Products – those products, including but not limited to the Account as described by the Partner Platform in the application process.

    Online Portal – means the interface provided by Partner Platform for the Introduced Client to access via the public internet, subject to applicability based on the Introduced Client’s relationship with the Partner Platform.

    Payment Initiation Service Provider – means a third party payment service provider authorised by or registered with by the Financial Conduct Authority or another European regulator to provide an online service to initiate a Transaction at your request on your Account.

    Partner Platform – A third party that is permitted by Modulr and Modulr FS to introduce and act on behalf of Introduced Clients, and permitted by you to act as an Authorised User.

    Partner Platform Agreement - an agreement between the Account Owner and the Partner Platform for the provision of various services, under the terms of which the Introduced Client wishes to open an Account with Modulr to be used for the purpose and in accordance with the terms set out in the Partner Platform Agreement.

    Physical Card - means a physical card-based payment instrument issued by us to you which uses the Card Scheme payments network and ‎may be used to make Physical Card Transactions. ‎

    Physical Card Transaction - means the use of a Physical Card to make a payment to a Merchant.‎

    Regulator – the Financial Conduct Authority, located at 12 Endeavour Square, London, E20 1JN or any authority, body or person having, or who has had, responsibility for the supervision or regulation of any regulated activities or other financial services in the United Kingdom.

    SEPA – Single Euro Payments Area scheme, which allows payments to be made in euros within the EEA. ‎

    Transaction – any debit, credit or other adjustment to an Account that affects the balance of monies held in it, ‎including a Virtual Card Transaction.

    TPP (Third Party Provider) – means an Account Information Service Provider or a Payment Initiation Service Provider.

    we, us, our or Modulr FS - Modulr FS Ltd, a company registered in England and Wales with number 09897919 and whose registered office is at 1 Hammersmith Broadway, London, W6 9DL and who is regulated by the Financial Conduct Authority for issuance of electronic money under FRN 900573, or Modulr acting on Modulr FS Ltd’s behalf.

    Virtual Card – means a virtual card-based payment instrument consisting of (amongst other things) a unique 16 digit account number issued to you by us which uses the Card Scheme payments network and may be used to make Virtual Card Transactions.

    Virtual Card Transaction – means the use of a Virtual Card to make a payment to a Merchant.

    Website – means the customer portal that Introduced Clients can login to in order to use the Modulr Products.

    you, your - The Account Owner, also referred to as an Introduced Client.

  2. ACCOUNT & CARD LIMITS

    1. Limits may apply to the balance on your Account at any time, the maximum value of an individual payment Transaction, maximum Virtual Transaction value per Card‎, the maximum aggregate value of all payment Transactions made from your Account or Cards in a particular time period e.g. during any one Business Day and the maximum number of payment Transactions made from your Account over a particular timeframe. Your Cards may also have certain Card Transaction types disabled, such as cash withdrawals at an ATM.‎
    2. The limits and restrictions that apply to your Account and Card‎ will be communicated to you during the Account set-up process and/or before the Card is issued to you (as applicable). These limits may also change over time based on your Account and/or Card‎ usage; any such change will be communicated to you. You can check the limits at any time by contacting Customer Services. You should not make a payment Transaction request which exceeds such.
    3. From time to time a Card Transaction may be authorised which exceeds the limit or restriction applicable to your Account or ‎Card, for example when it is used in an offline environment for example but not limited to payments for or on transport (purchases ‎on a train, aeroplane, underground or toll payments). In such circumstance, a negative balance on your Account may occur. In this ‎case the process in paragraphs 5.12 to 5.14 inclusive will apply.‎
    4. Certain Merchants may require verification that the funds held on your Account will cover the Card Transaction amount and will ‎place a “pre-authorisation” on your Card. This amount will be unavailable to you until the Card Transaction is completed or released ‎by the Merchant. The pre-authorisation allows the Merchant up to 30 days to claim and settle any funds owed to them from the ‎Card. Examples include but are not limited to hotels and rental cars. If there are insufficient funds available on your Account, Modulr ‎must still make this settlement, which may result in a negative balance on your Account. In this case the process in paragraphs 5.12 ‎to 5.14 inclusive will apply.‎
    5. To manage our risk, particularly with respect to money laundering, fraud or security concerns, we also apply internal controls, including limits, to certain types of payment. We change these as necessary but for security purposes, we do not disclose them.
  3. SCOPE OF THESE TERMS AND CONDITIONS

    1. Your Account is an electronic money account and the electronic money and any Card associated with it is issued to you by us. We are regulated by the Financial Conduct Authority for the issuance of electronic money (FRN 900573). Your rights and obligations relating to the use of this Account are subject to these Terms and Conditions between you and us.
    2. The types of Transactions enabled for your Account will be explained to you by the Partner Platform or as subsequently ‎enabled by us. The terms of these Modulr Account Terms and Conditions applicable to specific Transactions or payment types (for example, ‎Cards) apply only to the extent that such Transactions or payment types are enabled for your Account.‎
    3. This Agreement is written and available only in English and we undertake to communicate with you in English regarding any aspect of your Account.
    4. You agree that we or the Partner Platform may communicate with you by e-mail or telephone for issuing any notices or information about your Account and therefore it is important that you ensure you keep your e-mail address and mobile phone number updated.
    5. You can request a copy of these Terms and Conditions at any time by contacting Customer Services.
  4. OPENING YOUR ACCOUNT

    1. Your Account will be opened on your behalf by the Partner Platform. You may only hold an Account so long as you remain an approved client of the Partner Platform that provided you with your account details.
  5. USING THE ACCOUNT

    1. Your Account can receive bank transfers and other payment types as added and notified to you by Modulr from time to time. Subject to paragraph 5.3, we will credit your Account when we receive the funds which could be up to three Business Days after the payment being instructed, depending on how the payment was sent.
    2. Your Account can also receive internal transfers from other Accounts owned or controlled by the Partner Platform, which apply instantly.
    3. An incoming payment will not be credited to your Account if:
      1. the Account has reached the Account Limits; or
      2. the Account is inactive or blocked or terminated; or
      3. the sender has provided incorrect/invalid Account Details for your Account; or
      4. we suspect the payment to be fraudulent.
    4. If we are unable to credit your Account for any of the reasons in paragraph 5.3 then the funds may be sent back to the sender without a prior notification to you.
    5. Your Account can make payments out to external bank accounts via Faster Payments, SEPA and other methods as added and notified to you by the Partner Platform from time to time.
    6. Your Account will be configured and operated by the Partner Platform. You agree that Modulr and we may take instructions from the Partner Platform regarding the operation of your Account, including the creation of beneficiaries and instruction of payments, on your behalf. We and Modulr have no liability for actions taken by the Partner Platform. If you disagree with any actions taken by the Partner Platform these should be discussed with the Partner Platform. We are also authorised to take instructions from any other Account Manager (where different from Partner Platform) and, with respect to Physical Card Transactions, from the ‎Cardholder. You are responsible for all actions of the Account Manager and any Cardholder in relation to the Account and/or ‎Card(s).‎
    7. Where Cards are made available to you, , your Account can be used to fund Card Transactions. You or your Account Manager or Partner Platform can request a Virtual Card or a Physical Card to be ‎issued to you via the Online ‎Portal or Modulr API. The value of the Virtual Card Transaction, together with any applicable fees and ‎charges, will be deducted from ‎your Account once we receive the authorisation request from the Merchant.‎
    8. If the Card Transaction is made in a currency other than the currency the Card is denominated in, the ‎Card ‎Transaction will be converted to the currency of the Card by the relevant Card Scheme at a rate set by it on the day we receive details of the ‎Card Transaction. The exchange rate varies throughout the day and is not set by us.‎ ‎‎You can check the relevant Card Scheme rate as follows.‎

      Mastercard Card Scheme rate at: https://www.mastercard.co.uk/en-gb/consumers/get-support/convert-currency.html;‎

      VISA Card Scheme rate at: https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html.‎
    9. If you use the Card to make a purchase online you may be asked by the Merchant to use 3DS. Physical Cards are automatically enrolled for use with 3DS. When you use 3DS, you agree that the following shall apply in relation to your use of the Card:
      1. You must provide us with your mobile phone number before you can use 3DS. You must ensure that your mobile phone can receive SMS at the time of your purchase.
      2. When you use 3DS to purchase from a participating Merchant, you will be presented with an electronic receipt and the One-Time Passcode will be sent to your mobile phone.
      3. Without your One-Time Passcode, you will not be able to make purchases from participating Merchants.
      4. If you update your mobile phone number then you must notify us immediately of your new details, to ensure our records are correct.
      5. The One-Time Passcode is valid for the purchase you received it for. You are responsible for the security and confidentiality of your One-Time Passcode and must not share it with anyone else.
      6. You will be responsible for any fees or charges imposed by your mobile phone service provider in connection with your use of 3DS.
    10. A Transaction is deemed to be authorised by you:
      1. when you enter the security information on the Modulr Online Portal to confirm a Transaction is authorised, or when it is instructed via the Modulr API with the relevant security credentials;
      2. when you or your Account Manager or Partner Platform submits a request for a creation of a Virtual Card via the Online Portal or Modulr API, you shall ‎be deemed to have ‎‎authorised any subsequent Virtual Card Transaction made using such Virtual Card up to the authorisation value ‎specified ‎when creating the request for creation of the Virtual Card;‎
      3. when you or the Cardholder (i) enter a PIN or provide any other security credentials;‎ (ii) sign a sales voucher;‎ (iii) provide the ‎Physical Card details and/or provide any other details as requested; (iv) wave/swipe the Physical Card over a card reader; or (v) ‎insert the Physical Card into a card device or an ATM;‎
      4. when you give instructions through a third party (such as the recipient of a Direct Debit Mandate or a ‎Payment Initiation ‎Service Provider)‎.‎

        Once the Transaction is confirmed, we cannot revoke the Transaction save for in those circumstances set out in paragraph 5.11 below.
    11. You can cancel any Transaction which is agreed to take place on a date later than the date you authorised it, provided that you give us notice to cancel no later than close of business on the Business Day before the Transaction was due to take place;
    12. Cancelling a Direct Debit Mandate with us will not cancel ‎the agreement with the organisation you are paying. It is your responsibility to tell the organisation collecting ‎the payment about the changes to your instructions.‎
    13. If for any reason whatsoever, a negative balance arises because a Transaction is completed when there are not enough funds on ‎your Account for that Transaction, you shall reimburse the negative balance amount immediately, unless circumstances described in ‎sections 5.13 and 5.14 apply. You agree that once we make this negative balance known to you, we will charge you the amount of ‎negative balance and you must repay it immediately. We may charge the amount of the negative balance against any funds on your ‎Account, including any subsequently loaded funds. Until we are reimbursed this negative balance amount, we may arrange for your ‎Account, including Card(s) to be suspended. We may also report the negative balance to credit reference agencies.‎
    14. Where a negative balance arises because of an error on the part of a Merchant where the Card Transaction occurred, we will ‎seek to recover the negative balance amount from the Merchant.‎
    15. Where a negative balance arises because of an error on the part of the recipient of the payment or us, we will seek to recover ‎the negative balance amount from the person who made the error.‎
    16. The Available Balance on your Account will not earn any interest.
    17. You can check the balance and Transaction history of your Account at any time via the interface provided to you by the Partner Platform or by contacting Customer Services.
    18. You will be provided with a monthly statement free of charge setting out information relating to individual payment Transactions by the Partner Platform or us (using the details we have associated with your Account).
  6. THIRD PARTY ACCESS

    1. You can instruct a TPP to access information on your Account or initiate certain Transactions from your Account provided such TPP has identified itself to us and it has acted in accordance with the relevant regulatory requirements. We and/or the Partner Platform will treat any instruction from an TPP as if it was from you.
    2. We, or Partner Platform may deny a TPP access to your Account if we are concerned about unauthorised or fraudulent access by that TPP. setting out the reason for such denial. Before doing so, we will tell you that we intend to deny access and give our reasons for doing so, unless it is not reasonably practicable, in which case we will immediately inform you afterwards. In either case, we will tell you in the manner in which we consider most appropriate in the circumstances. We will not tell you if doing so would compromise our security measures or would otherwise be unlawful.
    3. If you have provided consent to a TPP to access the data in your Account to enable them to provide account information services to you or initiate Transactions on your behalf, you consent to us sharing your information with the TPP as is reasonably required for them to provide their services to you. You must let us know if you withdraw this permission and we recommend you let the TPP know. On notification from you, we will not provide such TPP access to your Account or the data in it.
  7. CLOSING YOUR ACCOUNT

    1. You may close your Account by contacting Customer Services. Please refer to your contract with the Partner Platform for any terms relating to your need to maintain your Account.
    2. The Account will be closed if the Partner Platform instructs us to close your Account (in which case the Partner Platform will inform you of this instruction).
    3. On termination of the Agreement for any reason, these Terms and Conditions will automatically terminate, and your Account will ‎be closed and any Cards issued to you will be cancelled.
    4. Any Available Balance remaining on the Account after Account closure will be transferred to your nominated bank account via Faster Payments)‎ based on instructions to us from the Partner Platform. If for any reason this is not possible, such Available Balance will remain yours for a period of six years from the date of Account closure. Within this period, you may at any time request a refund by contacting Customer Services. You will not have any access to your Account and we will not return any funds remaining on the Account after six years from the date of Account closure and this Agreement will terminate.
  8. YOUR LIABILITY AND AUTHORISATIONS

    1. You are responsible for understanding and complying with the Agreement including these Terms and Conditions.
    2. We may at any time suspend, restrict or refuse to authorise any use of your Account and/or Cards (including cancelling Card(s)) or refuse to process your instructions or authorise any particular Transaction where:
      1. we are concerned about the security of or access to your Account and/or your Card;‎
      2. we know or suspect that that your Account and/or Card is being used in an unauthorised or fraudulent manner;‎
      3. we need to do so in order to comply with the law or otherwise for regulatory or crime prevention purposes;‎
      4. the Transaction would breach the limits applicable to your Account and/or Card;
      5. you, breach an important part of these Terms and Conditions, or repeatedly breach any term in this Agreement and ‎fail to resolve the matter in a timely manner.‎
    3. If we cancel, suspend or restrict your Account and/or Card(s), or otherwise refuse to execute a payment order to or to initiate a Transaction, we will, without undue delay and provided we are legally permitted to do so, notify you or the Partner Platform of the refusal, suspension or cancellation (as applicable). If possible, we will provide the reasons for the refusal to execute the Transaction and/or suspending the use of your Account and/or Card and where those reasons relate to factual matters, the procedure of rectifying any factual errors that led to the refusal.
    4. You must not:
      1. allow another person to use security information related to the Account and/or Cards,
      2. write down password(s) or any security information unless this is done in a way that would make it impossible for anyone else to recognise any of that information, or
      3. disclose passwords or any security information, or otherwise make them available to any other person, whether verbally or by entering them in a way that allows them to be observed by others.
    5. You must take all reasonable steps to keep your Account and password(s) and any other security-related details safe at all times. If you visit a website or receive a message that asks for your password, other than the Partner Platform website, this should be reported to the Partner Platform. If you are in doubt whether a website is genuine, you should contact Customer Services. If you have any indication that your Account, password or other security information has been compromised, you must immediately change your password and notify us as soon as possible.
    6. You will be liable for all Transactions that take place as a result of you acting fraudulently or failing to comply with these Terms and Conditions with intent or gross negligence. Any such Transactions and any fees and charges relating to such Transactions will be deducted from the Available Balance on your Account.
    7. You will be liable for all Transactions that the Partner Platform, any other Account Manager makes on your behalf or the Cardholder makes as per this Agreement, along with those made by a TPP authorised by you to initiate a Transaction.
    8. You will be liable for all unauthorised Transactions that arise from the use of lost or stolen Physical Cards, the Account or Card security information such as but not limited to log in details, Card number and CVV if you fail to keep the security features of the Account and/or Cards safe.
    9. It is your responsibility to keep us updated of changes to your Information, including e-mail address and mobile numbers. Failure to do so may result in us being unable to contact you regarding your Account or to let you know about changes to these Terms and Conditions.
    10. If you request to recall a Transaction due to an error or mistake caused other than by Modulr, we reserve the right to charge you (i) a handling fee of £25 per recall and (ii) any fee payable by Modulr to a third-party bank or institution for handling the recall.
    11. You agree to indemnify and hold harmless, us, Modulr and our distributors, partners, agents, sponsors, and service providers and their group companies from and against the costs of any legal action taken to enforce this Agreement, including these Terms and Conditions and/or any breach of these Terms and Conditions by you.
  9. DISPUTES AND INCORRECT TRANSACTIONS

    1. If you have a reason to believe that (i) a Transaction on your Account was unauthorised or was made incorrectly, (ii) a Physical Card is lost or stolen; or (iii) someone else (other than TPP) knows the security credentials or otherwise has ‎unauthorised access to your Account and/or Card,‎ you must inform us immediately by contacting Customer Services. After you notify us, we will replace a lost, stolen or misappropriated Physical Card and/or security credentials, as appropriate.‎
    2. We will investigate your claim for a refund of unauthorised or incorrectly executed Transactions, provided at all times that you ‎have notified us without undue delay of becoming aware of such incorrectly executed or ‎unauthorised Transaction and in any case ‎within the timeframes required by the Card Scheme rules if the incorrect Transaction relates to a Card ‎Transaction and for ‎all other Transactions within 13 months of the date of the relevant Transaction‎. We will not be liable for any unauthorised or incorrectly executed Transactions notified to us after this ‎period.‎
    3. If you dispute a Transaction:
      1. subject to 9.3.2 and 9.3.3 we will immediately refund the amount to your Account to the position it would have been in if the unauthorised Transaction had not taken place. We will have no further liability to you. If we subsequently discover that you were not entitled to a refund, we shall treat the refund as a mistake and be entitled to reapply the Transaction.
      2. if there are reasonable grounds for thinking that you may not be entitled to a refund (based on the evidence available to us at the time you report the unauthorised Transaction), we may investigate before giving you a refund and we will provide you with our supporting evidence if we believe you are not entitled to the refund;
      3. if the Transaction was initiated through a TPP, it is for the TPP to prove that, the Transaction was authenticated, accurately recorded and not affected by a technical breakdown or other deficiency linked to the TPP’s payment initiation service; and
      4. if we make an error on a Transaction made to someone else through the Direct Debit ‎scheme, we will refund you in ‎accordance with the Direct Debit Guarantee‎.
    4. If an incorrect Transaction is paid into your Account that should not have, we will, where possible, immediately send the funds back to the bank acting for the person from whose account the Transaction was made. In such circumstance you agree to return the funds to us and provide such assistance that we require in recovering the amount from you. If we cannot recover the funds, we are required to provide sufficient details about you and the incorrect payment to the bank or institution that sent the payment to enable them to recover the funds.
    5. You will be liable for all Transactions made from your Account if you (or the Account Manager or the Cardholder) have acted fraudulently or have failed with gross negligence:
      1. to keep the security credentials used to access or use your Account and/or Card safe and secure or otherwise failed to ‎comply with these ‎Terms and Conditions in relation to the safety of your Account and/or Card; or‎
      2. failed to notify us in accordance with 9.1 above‎.
    6. You may be entitled to a refund where a Transaction from your account which was initiated by payee provided that:
      1. the authorisation did not specify the exact amount;
      2. the amount of Transaction exceeded the amount you could reasonably have expected (taking into your previous spending pattern and other relevant circumstances). We may ask you to provide such information as is reasonably necessary for us to determine if this is correct; and
      3. you asked for a refund within 8 weeks of the date the Transaction was debited to your Account.

        In such circumstances we will refund you within 10 Business Days of receiving your claim for a refund or, where applicable, within 10 Business Days of receiving any further information we requested - or we will provide you with reasons for refusing the refund.
    7. If you want a refund for a Transaction made using the Direct Debit scheme, the Direct Debit Guarantee will apply instead of the terms in 9.6 above.
  10. VARIATION

    1. We may change these Terms and Conditions by providing you with at least two months’ prior notice by e-mail (provided you have supplied us with an up-to-date e-mail address).
    2. If you do not agree with the changes to the Terms and Conditions, you may at any time within the two months’ notice period notify us and these Terms and Conditions will be terminated and your Account closed. If you do not notify us to the contrary during this period then you will be deemed to have accepted the change and it will apply to you when it comes into force.
    3. If any part of these Terms and Conditions are inconsistent with any legal requirements then we will not rely on that part but treat it as if it did actually reflect the relevant legal requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.
  11. TERMINATION OR SUSPENSION

    1. We can terminate your Account at any time if we give you two months’ notice and transfer any Available Balance at the time to your nominated bank account without a charge.
    2. We can suspend or terminate your Account at any time with immediate effect (and until your default has been remedied or the Agreement terminated) without any prior notice to you if:
      1. we discover any of the Information that we hold for you is false, misleading or materially incorrect; or
      2. if you, the Account Manager, the Cardholder or a third party has engaged in fraudulent activity, money laundering, terrorism, terrorism financing or other illegal activity in connection with your Account or we have reasonable suspicions in respect of the same; or
      3. if you have reached your Account Limit;
      4. you have breached these Terms and Conditions; or
      5. we are required to do so under any applicable law or regulation or at the direction of any regulatory, law enforcement or other competent authority.
    3. In the event that we do suspend or terminate your Account then if we are able to do so, we will tell you in advance otherwise we will let you know immediately afterwards (to the extent the we are permitted by law).
  12. OUR LIABILITY

    1. Our liability and the liability of our agents in connection with this these Terms and Conditions (whether arising in contract, tort (including negligence), breach of statutory duty or otherwise) shall be subject to the following exclusions and limitations:
      1. Neither we, nor our agents shall be liable for any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds;
      2. Neither we, nor our agents shall be liable for any loss of profits, loss of business, or any indirect, consequential, special or punitive losses;
      3. where sums are incorrectly deducted from your Available Balance due to our default, our liability and that of our agents shall be limited to payment to you of an equivalent amount to that which was incorrectly deducted from your Available Balance;
      4. in all other circumstances of our default, our liability and that of our agents jointly will be limited to transferring any Available Balance to your nominated bank account.
    2. In circumstances where sums are incorrectly deducted from your Available Balance due to our fault, if we require your support to enable us to recover the incorrect deduction, you agree to provide us and our agents with all assistance that we reasonably require.
    3. Nothing in these Terms and Conditions shall exclude or limit our liability or that of our agents for death or personal injury resulting from our negligence or fraud.
    4. To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
    5. The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates and other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with these Terms and Conditions.
  13. YOUR INFORMATION

    1. Some personal data will be necessary for us to provide you with the Account and services under this Agreement. Modulr FS is a Data Controller and shall only use your personal data for this purpose. Please see the Privacy Policy (accessed at https://www.modulrfinance.com/privacy-policy) for full details on the personal data that we and Modulr Finance Ltd hold, how we will use it and how we will keep it safe. Modulr will at all times comply with Data Protection Laws.
    2. We will retain details of individual transactions for six years from the date on which the particular transaction was completed. We will maintain all other records for six years from which we have ceased to provide you with any product or service
    3. You must update any changes to your Information by contacting Customer Services.
    4. If we discover that the Information we hold about you is incorrect, we may have to suspend or cancel your Account until we can establish the correct Information, in order to protect us both.
    5. If you or the Account Manager allow or give consent to an Authorised Third Party Provider to access your Account to provide their services, you should know that we have no control over how an Authorised Third Party Provider will use your information nor will we be liable for any loss of information after an Authorised Third Party Provider have access to your information.
  14. COMPLAINTS PROCEDURE

    1. Complaints regarding any element of the service provided by us can be sent to Customer Services.
    2. All complaints will be subject to our complaints procedure as agreed with Partner Platform. Partner Platform will provide you with a copy of this complaints procedure upon request and, if they receive a complaint from you, a copy of the complaints procedure will automatically be posted or emailed to you.
    3. In most cases Partner Platform will provide a full response by email to your complaint within fifteen Business Days after the date your complaint is received. In exceptional circumstances where Partner Platform is unable to respond in full to your complaint, Partner Platform will inform you of this giving reasons for the delay and the timeframe within which you will receive a full reply, which in any event shall be within thirty-five Business Days of the date your complaint is received.
    4. If we and/or Partner Platform fail to resolve your complaint to your satisfaction you may refer your complaint to the Financial Ombudsman Service (Exchange Tower, London E14 9SR, phone 0800 023 4567). Details of the service offered by the Financial Ombudsman Service are available at www.financial-ombudsman.org.uk.
  15. GENERAL

    1. Any delay or failure to exercise any right or remedy under these Terms and Conditions by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.
    2. If any provision of these Terms and Conditions is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.
    3. You may not assign or transfer any of your rights and/or benefits under these Terms and Conditions and you shall be the sole party to the contract between us. You will remain liable until the Account issued to you is terminated. We may assign our rights and benefits at any time without prior written notice to you. We may subcontract any of our obligations under these Terms and Conditions.
    4. Save for Modulr, who acts on our behalf, no third party who is not a party to these Terms and Conditions has a right to enforce any of the provisions in these Terms and Conditions and the Contracts (Rights of Third Parties) Act 1999 shall not apply.
    5. These Terms and Conditions contain the information set out in Schedule 4 of the Payment Service Regulations 2017 and you can obtain a copy of this Agreement at any time by contacting Customer Services.
    6. These Terms and Conditions are governed by English law and you agree to the exclusive jurisdiction of the courts of England and Wales.
    7. The Financial Services Compensation Scheme is not applicable for this Account. No other compensation schemes exist to cover losses claimed in connection with your Account. As a responsible e-money issuer, we will ensure that once we have received your funds they are deposited in a secure account, specifically for the purpose of redeeming Transactions made from your Account. In the event that we or Modulr become insolvent funds that you have loaded which have arrived with and been deposited by us are protected against the claims made by our creditors.
  16. CONTACTING CUSTOMER SERVICES

    1. Customer Services are provided by the Partner Platform. The details shall be provided to you by the Partner Platform.

MODULR INTRODUCED CLIENT TERMS OF BUSINESS

BACKGROUND

Modulr is a provider of Modulr Products (as described to you by Partner Platform), which includes the provision of an electronic money account for businesses and associated payment services. The electronic money account is provided by Modulr FS. These Introduced Client Terms of Business govern the Modulr Products that Modulr agrees to provide to the Introduced Client.

These Introduced Client Terms of Business ‎(including all the attached Schedules)‎, together with the Modulr Account Terms and Conditions set out the terms on which the Modulr Products are provided and constitute the Agreement between Modulr, Modulr FS and the Introduced Client.

THE PARTIES AGREE AS FOLLOWS:

  1. Interpretation

    1. In these Introduced Client Terms of Business: (a) a reference to a clause is a reference to a clause in these Introduced Client Terms of Business; (b) headings are for reference only and shall not affect the interpretation of these Introduced Client Terms of Business; (c) the singular shall include the plural and vice versa; (d) a reference to a person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality) and that person's personal representatives, successors and permitted assigns; (e) a reference to a party shall include its personal representatives, successors and permitted assigns; (f) reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time.
  2. Modulr Products

    1. Modulr will make available to the Introduced Client such products that are provided to the Partner Platform and, as described by Partner Platform in the application process.
    2. The Account and Cards are provided by Modulr FS to the Introduced Client in accordance with the Modulr Account Terms and Conditions. Modulr Products provided to the Introduced Client under this Agreement are for the sole use by the Introduced Client.
    3. The Introduced Client can use the Account and Cards to make Transactions on the terms and conditions set out in the Modulr Account Terms and Conditions. A record of all Transactions relating to the Account can viewed on the Website or accessed via the Partner Platform (as applicable).
    4. The Introduced Client shall promptly notify Customer Services as soon as it becomes aware login and security information enabling access to its Modulr Products have been lost, stolen or compromised.
    5. From time to time Modulr may carry out additional checks on the Introduced Client, including, where relevant, the identity of its directors, beneficial owners and the nature of its business in accordance with its Due Diligence Procedure and KYC procedures and as required by law. Modulr may contact the Introduced Client or the Partner Platform (as applicable) for such purposes. The Introduced Client agrees to provide such information as necessary.
    6. The Introduced Client shall comply with all legislation and regulation as it applies to the Introduced Client. Any failure to comply with relevant legislation or regulation shall be considered a material breach of the Agreement and may result in Modulr discontinuing the provision of the Modulr Products as set out in clause 6.4.
    7. The Introduced Client shall implement as appropriate Modulr’s reasonable security recommendations it notifies to the Introduced Client from time to time.
  3. Authorised Users

    1. Where the Introduced Client accesses Modulr Products through a Partner Platform, such Partner Platform will be considered the Authorised User. In this instance if additional Authorised Users are required they must be requested by the Partner Platform. The use of a Partner Platform to access the Modulr Products by the Introduced Client are set out in further detail below.
  4. Accessing Modulr Products through a Partner Platform

    1. The Introduced Client agrees and authorises the Partner Platform to instruct Modulr to access and use the Modulr Products on behalf of the Introduced Client, which shall include but not be limited to making Transactions, viewing and retrieving Transaction data, initiating refunds and closing the Account.
    2. The Introduced Client acknowledges and agrees that Modulr shall have no liability whatsoever with respect to the performance, availability or quality of any Partner Platform.
    3. The Introduced Client acknowledges and agrees to the following:
      1. it must satisfy itself that its Platform Partner Agreement grants the Partner Platform all permission necessary to operate the Account on the Introduced Client’s behalf;
      2. the Platform Partner will be granted full access to operate the Introduced Client’s Account as an Authorised User of the Introduced Client;
      3. it is responsible for monitoring all transactions on its account including any instructed by Partner Platform when acting as an Authorised User. Any queries relating to such activities will be raised with the Partner Platform directly and settled between Partner Platform and the Introduced Client;
      4. the Introduced Client has no recourse against Modulr for any act or omission of the Partner Platform with respect to its Account;
      5. the Introduced Client understands it can only access its Account to make Transactions, review Transactions made or otherwise use Modulr Products through the service provided by the Partner Platform; and
      6. it will only use the Account for the purpose set out in the Partner Platform Agreement.
    4. On receipt of notification by Modulr from the Partner Platform that it wishes to terminate this Agreement, this Agreement shall terminate. Any funds in the Introduced Client’s Account will be returned in accordance with the terms of the Modulr Account Terms and Conditions.
    5. If the Introduced Client has any complaint or concern relating to the Account or other Modulr Products, such complaint or concern shall be raised directly to the Partner Platform, who shall deal with it in accordance with the complaints procedure agreed between Modulr and Partner Platform, a copy of which is available on request from the Partner Platform and on the Website.
  5. Customer Services

    1. For the avoidance of doubt, Customer Services shall mean the customer services arranged by Partner Platform on behalf of Modulr.
    2. The Introduced Client can contact Customer Services if it has any queries about the Modulr Products. Information may be requested from the Introduced Client, including but not limited to, its Authorised Users, Cardholders or Transaction information so that it can verify the identity of an Authorised User, the Cardholder and/or the Modulr Products provided to such Introduced Client.
    3. Any information shared by the Introduced Client will be kept strictly confidential. Where such information is provided in connection to a service provided by a third party, for example, the Account, then the Introduced Client’s information will only be used in accordance with instructions of such third party and only for the purpose of providing Customer Services to the Introduced Client on behalf of such third party.
    4. As part of Modulr’s commitment to providing a quality customer service, its managers periodically monitor telephone communications between its employees and Introduced Clients to ensure that Modulr’s high quality service standards are maintained. The Introduced Client consents to such monitoring and recording of telephone communications and agrees to make its Authorised Users aware of such practice.
  6. FEES

    1. No fees shall be payable by the Introduced Client to Modulr under this Agreement.
  7. Term and Termination

    1. This Agreement shall commence on the date the Introduced Client receives confirmation from the Partner Platform of its successful application for Modulr Products and shall continue until terminated by the Introduced Client, Partner Platform (if acting on behalf of the Introduced Client) or Modulr.
    2. The Introduced Client or the Partner Platform (where applicable) may terminate this Agreement immediately by notifying Customer Services in writing by post or email.
    3. Modulr may terminate this Agreement and close the Introduced Client’s Account(s) by providing the Introduced Client with at least two months’ notice.
    4. Modulr may suspend or terminate this Agreement immediately if, for any reason, the Introduced Client (i) is unable to satisfy the Due Diligence Procedures, or KYC procedures, as relevant, (ii) for breach of this Agreement, (iii) has provided false, incomplete or misleading information, (iv) has engaged in fraudulent, money laundering, terrorism financing or other illegal activity or we have reasonable suspicions in respect of same or (v) we are required to do so under any applicable law or regulation or at the direction of any regulatory, law enforcement or other competent authority. Modulr shall notify you as soon as possible, unless prohibited by law, of such suspension or termination of the Agreement.
    5. This Agreement will automatically terminate when all Accounts of the Introduced Client are closed (for any reason).
    6. Modulr may terminate or suspend this Agreement in whole or in part immediately by giving written ‎notice to the Introduced Client if Modulr ceases to provide Cards pursuant to the provisions of Schedule 1.‎
    7. On termination of this Agreement for any reason, any balance remaining in the Introduced Client’s Account(s) shall be returned to the Introduced Client in accordance with the Modulr Account Terms and Conditions. The Introduced Client shall pay immediately all outstanding Fees due (where applicable) under this Agreement and in the event of a negative balance in an Account, shall reimburse Modulr FS such amount equal to the negative balance.
  8. Intellectual Property

    1. The Introduced Client acknowledges all Intellectual Property Rights in the Modulr Products are owned by or provided under licence to Modulr. Modulr grants the Introduced Client a non-exclusive, royalty-free licence for the duration of this Agreement to access and use the Modulr Products only for the purpose contemplated by this Agreement.
    2. Nothing in this Agreement shall operate to create or transfer any Intellectual Property Right to the Introduced Client.
  9. Force Majeure

    1. 1. Modulr and/or Modulr FS will not be liable for the non-performance or failure to provide any part of the Modulr Products occurring as a result of any events that are beyond the reasonable control of Modulr, for example, but not limited to, fire, telecommunications or internet failure, utility failure, power failure, equipment failure, employment strife, riot, war, terrorist attack, non-performance of third party suppliers, acts of God such as storm or lightening damage, or other causes over which Modulr and/or Modulr FS has no reasonable control.
  10. Assignment Transfer and Subcontracting

    1. The Modulr Products provided to the Introduced Client are personal to the Introduced Client. The Introduced Client may not novate, assign or otherwise transfer this Agreement, any interest or right under this Agreement (in whole or in part) without the prior written consent of Modulr.
    2. The Introduced Client agrees Modulr may, in its sole discretion, assign, or transfer some or all of its rights and obligations or delegate any duty of performance set out in the documents forming this Agreement. Modulr may subcontract any of its obligations under this Agreement.
    3. In the event of any transfer of this Agreement by Modulr to another service provider; if the Introduced Client does not want to transfer to the new provider, the Introduced Client must notify Modulr of its objection in writing to Customer Services. On receipt of such notification, Modulr it will terminate this Agreement. Any balance remaining in the Introduced Client’s Account(s) will be returned to the Introduced Client in accordance with the redemption procedure set out in the Modulr Account Terms and Conditions.
    4. It is acknowledged by the Introduced Client that Modulr enters into this Agreement on its own behalf and as agent for and on behalf of Modulr FS with respect only to clauses 10 and 14 of these Introduced Client Terms of Business.
  11. Liability

    1. Nothing in this Agreement will operate to limit either party or its agent’s liability with respect to fraud or for death or personal injury resulting from negligence, in either case whether committed by that party or its employees, agents or subcontractors.
    2. Modulr and Modulr FS makes no warranty that access to and use of the Modulr Products will be uninterrupted or error free.
    3. The Introduced Client acknowledges and agrees that Modulr and/or Modulr FS are not liable to the Introduced Client for any loss, liability or damages the Introduced Client suffers which result from, are related to, or in any way are connected with any fraud control, restriction measures or other measures implemented from time to time including as require, unless such loss, liability or damage is a direct result of Modulr and/or Modulr FS’s fraud, gross negligence or willful misconduct in procuring the implementation of fraud control or purchase restriction measures that Modulr has expressly agreed in writing to procure for the Introduced Client.
    4. Modulr and Modulr FS shall not be liable to the Introduced Client for any loss or damage the Introduced Client may suffer as a result of any act or omission of an Authorised User or an Authorised User’s use of or inability to use of the Modulr Products.
    5. The Introduced Client agrees to indemnify Modulr and Modulr FS against any and all actions, claims, costs, damages, demands, expenses, liabilities, losses and proceedings Modulr and/or Modulr FS directly or indirectly incurs or which are brought against Modulr if the Introduced Client, or an Authorised User has acted fraudulently, been negligent or has misused a Modulr Product or any of the services provided under this Agreement.
    6. Modulr and/or Modulr FS shall not be responsible in any way for any interest or claims of any third parties in respect of the Modulr Products, except as required by law or regulation.
  12. Data Privacy

    1. Modulr will collect and retain personal information about the Introduced Client and each Authorised User to enable Modulr to deliver the Modulr Products, the services linked to it and deal with any enquiries that the Introduced Client may have about it. Modulr is the data controller of the personal information gathered by Modulr for such purpose. If Modulr uses a third party to provide a part of the Modulr Product then that provider will be the owner and controller of the personal information they require to collect in order to operate the relevant service. The use of personal information by third-party service providers will be set out in their service terms and conditions of use. Modulr will, at such third-party provider’s direction, process personal data on its behalf, for example, to enable Modulr to provide Customer Services to the Introduced Client.
    2. Modulr processes personal information in accordance with relevant laws on the protection of personal data.
    3. If Modulr transfers the Introduced Client’s information to a third party in a country outside of the European Economic Area Modulr will ensure that the third party agrees to apply the same levels of protection that Modulr is legally obliged to have in place when Modulr processes personal data.
    4. Further information about how Modulr uses personal information can be which can be accessed at https://www.modulrfinance.com/privacy-policy.
  13. Changes to the Agreement

    1. Modulr may amend or modify this Agreement by giving no less than two (2) months’ notice to the Introduced Client unless Modulr is required to make such a change sooner by law. All proposed changes will be posted on the Website and communicated to the Introduced Client by such other means that Modulr agreed with the Introduced Client, for example by email. If the Introduced Client is accessing Modulr Products via a Partner Platform, all notifications will be communicated via Partner Platform according to contact preferences set with Partner Platform.
    2. The Introduced Client has no obligation to accept such amendments proposed by Modulr.
    3. The Introduced Client will be taken to have accepted any change to this Agreement that Modulr notifies to the Introduced Client unless the Introduced Client tells Modulr otherwise before the relevant change takes effect. In such circumstance, Modulr will treat notice of objection by the Introduced Client as notification that the Introduced Client wishes to terminate this Agreement and the use of all Modulr Products immediately. All Accounts of the Introduced Client will be closed and any balance remaining in the Introduced Client’s Account will be returned to the Introduced Client in accordance with the redemption procedure set out in the Modulr Account Terms and Conditions. In this circumstance the Introduced Client will not be charged a fee for the Account closure and return of any balance.
  14. General

    1. In these Introduced Client Terms of Business, headings are for convenience only and shall not affect the interpretation of these Introduced Client Terms of Business.
    2. Any delay or failure by Modulr to exercise any right or remedy under this Agreement shall not be interpreted as a waiver of that right or remedy or stop Modulr from exercising its rights at any subsequent time.
    3. In the event that any part of this Agreement is held not to be enforceable, this shall not affect the remainder of the Agreement which shall remain in full force and effect.
    4. The Introduced Client shall remain responsible for complying with this Agreement until its Account(s) are closed (for whatever reason) and all sums due under this Agreement have been paid in full.
    5. This Agreement is written and available only in English and all correspondence with the Introduced Client shall be in English.
    6. This Agreement is governed by the laws of England and the Introduced Client agrees to the non-exclusive jurisdiction of the English courts.

Schedule 1: Card Obligations

  1. Introduction

    1. The terms of Schedule 1 shall apply where Virtual Cards and/or Physical Cards are included within the Modulr Products.
  2. Transactions Disputes and Chargebacks

    1. For the purposes of these Introduced Client Terms of Business, a “Chargeback” means a refund of a Card Transaction after the Introduced Client (or Modulr FS on its behalf) successfully disputes the Card Transaction as permitted by the Card Scheme rules.
    2. The Introduced Client shall provide Partner Platform and/or Modulr (where relevant) all relevant information in relation to Virtual Card Transaction as may be required by Modulr to resolve the dispute in accordance with applicable law and, where applicable, to raise a Chargeback in accordance with Card Scheme rules.
    3. The Introduced Client agrees that Card Scheme’s decision on the validity of the Chargeback is final and binding and that in the event a Chargeback is not successful or is subsequently reversed the Introduced Client will be liable for the amount of the disputed Card Transaction.
    4. Modulr shall at its discretion not refund a Chargeback to the Introduced Client until the relevant challenge periods have passed under the relevant Card Scheme rules unless it is required to do under relevant law or regulation.
  3. Withdrawal of Cards; Change of Card Scheme

    1. Modulr reserves the right to:
      1. cease providing Cards as part of Modulr Products for any reason;
      2. provide Cards issued under a different Card Scheme.

Schedule 2 – Direct Debit Mandate Service

  1. Introduction

    1. 1. The terms of this Schedule 2 shall apply where BACS Direct Debit Mandates are included within the Modulr Products.
  2. Direct Debit Mandate Service

    1. The Direct Debit Mandate service enables the Introduced Client to set up Direct Debit Mandate on an Account via UK BACS Direct Debit scheme (“Direct Debit Mandate Service”). The amounts and payment dates of the Direct Debits may vary.
    2. The Introduced Clients (or the Partner Platform or the Account Manager acting on the Introduced Client’s behalf) will be able to set up a Direct Debit Mandate on the Account by ‎completing a Direct Debit Mandate form. ‎
    3. The Introduced Client will be able to view, amend and cancel a Direct Debit Mandate on the Introduced Client’s Account via the website provided by Partner Platform or by contacting Customer Services.
    4. Without prejudice to any other rights of Modulr, Modulr may withdraw the Direct Debit Mandate Service by giving the Introduced Client at least 2 months’ notice by e-mail.

These Terms and Conditions apply to customers who opened a U Account before 11/01/2021. They will be in effect until 11/03/2021.

Customer Terms and Conditions

Welcome to our website, www.uaccount.uk (the "Website").

Please read these Customer Terms carefully before submitting your details to the Website to open a U Account through us. You should understand that, by submitting your details to the Website to open a U Account, you agree to be bound by these Customer Terms and the Modulr Terms and Conditions.

If you have any comments or suggestions, we would be pleased to hear from you. To contact us just go to www.uaccount.uk/help/contact.

  1. About us and these customer terms

    1. About us: "We", "us" or "our" means U which is a trading name of Shelby Finance Ltd, a company registered in England and Wales under company number 08117620 and with registered office at Kingston House, Centre 27 Business Park, Woodhead Road, Birstall, Batley, West Yorkshire, WF17 9TD.
    2. These Customer Terms: These Customer Terms govern the way in which you will be able to use the Website to open and manage your U Account.
    3. Definitions and interpretation in these Customer Terms:
      1. “Modulr” means Modulr Finance Ltd, a company registered in England and Wales with number 09897957 and whose registered office is at 1 Hammersmith Broadway, London, W6 9DL. Modulr Finance Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 900699) and is a registered EMD Agent of Modulr FS Limited.”
      2. "Event Outside Our Control" has the meaning given to it in Clause 10.2.
      3. "U Account" means the account established by Modulr (and subject to terms and conditions put in place by Modulr) in your name at your request. Payment into the account enables you to use your U Card to purchase goods and services.
      4. "U Card" means a Prepaid Debit Visa card made available by Modulr, where the primary such card will be issued to you when your application to open a U Account is accepted by us and Modulr (subject to separate Modulr Terms and Conditions).
      5. "Modulr Terms and Conditions" means the terms and conditions put in place by Modulr.
      6. "Extra Account" means a sub account within your U Account. When you open a U Account you will automatically be set up with an Extra Account. You can set up Extra Accounts in your U Account and move money between your Extra Account(s). For more information on setting up Extra Accounts please refer to the website.
      7. "Services" means the services that may become available to you once you open a U Account through us, including the use of U Accounts, and U Cards.
      8. "You", "Your", "Customer" or "U Customer" means a member of the public that opens a U Account through us.
      9. References to "Clause" or "Clauses" are to a clause or clauses of these Customer Terms.
      10. Headings and formatting are for ease of reference only and shall not affect the interpretation or constructions of these Customer Terms.
      11. When we use the words "writing" or "written", this will include e-mail or secure message.
      12. References to "includes" or "including" or like words or expressions shall mean without limitation.
    4. Copyright: These Customer Terms are our copyrighted material, and any use of these Customer Terms by third parties for commercial purposes is not permitted. We reserve the right to take legal action in respect of any infringements.
    5. Changes to these Customer Terms: We reserve the right to amend these Customer Terms at any time. All amendments will be posted on the Website and you will be notified by email.
  2. Your status

    1. Your age and where you are: By applying to open a U Account through us you warrant that you are:
      1. at least 18 years old; and
      2. resident in the United Kingdom.
  3. Effect

    1. Application: These Customer Terms shall apply to your opening of a U Account and your access to the Services to the extent that those Services are provided by us; where any Services are provided by a third party, that third party’s terms and conditions for the relevant part(s) of the Services will apply.
    2. Acceptance: When you submit your details to open a U Account through us, this shall in any event constitute your unqualified acceptance of these Customer Terms.
    3. Any other terms: These Customer Terms shall prevail over any separate terms put forward by you. Any conditions that you submit, propose or stipulate in whatever form and at whatever time, whether orally, in writing or by email, are expressly waived and excluded.
    4. Changes: No other terms or changes to these Customer Terms shall be binding unless agreed in writing by us.
  4. Opening a U Account

    1. Need to open a U Account: You may browse the Website without opening a U Account but, to access the Services, you must open a U Account through us. To open a U Account, you need to supply us with the information requested at application. See our Privacy Notice for more details about this.
    2. Valid email address: You must provide us with a valid personal email address that you access regularly, so that, amongst other things, administration emails can be sent to you. We may also need to verify any email address that you subsequently request to change to your U registered email address. Any U Accounts with someone else’s email address or with a temporary email address may be closed.
    3. Verification of email address: We will need to verify the email address that you supply to us once you have submitted your details to us, and we will email that address with a message containing a hyperlink to validate your application. If you do not validate your application using that hyperlink, you will not have completed the application process and you may need to apply again in order to access the Services. We may also require you to validate your email address if we believe that you have been using an invalid email address.
    4. Acceptance of registration: We may accept or reject your application for a U Account at our absolute discretion. Your application may not be successful if we are unable to verify your identity at the address you have provided to us.
    5. Identity Checks: We may undertake identity checks from time to time when your U Account is open, which may require you to let us have further documents.
    6. Application for a U Account is subject to the separate Modulr Terms and Conditions.
    7. If your application is successful, we will send you a U Card. You must activate your U Card before you can use your account.
  5. U Accounts and U Cards

    1. If you have chosen a U Account that has a monthly fee associated with it, the initial monthly fee will be deducted from your first payment into your U Account. Any payment in is classed as the first payment regardless of the source of the payment. Your payment will be taken on the same day each month, except for months where your billing date is the 29th , 30th or 31st and the current billing month has insufficient days. In this case the monthly fees will be taken on the 1st of the next month; if this happens, your original billing date will remain for subsequent monthly management billing.
    2. If you do not have sufficient funds in your account to cover the monthly management fee, the fee will be deducted from your account the next time funds are paid into your U Account.
    3. If you have partial funds in your account to cover your monthly management fee, the partial amount will be debited from your U Account and the remaining owed on your monthly management fee(s) will be debited from your account the next time funds are paid in to your U Account.
    4. It is your responsibility to ensure that you have sufficient funds in your main account or Extra Account to cover a payment leaving that account; this must include the funds to cover any fees (if applicable). Payments due to leave your U Account where there are not sufficient funds to cover both the payment and the fee for the payment will decline.
    5. You agree that any use of your account, card, card number or PIN constitutes your authorisation and consent to a transaction. You provide authorisation when you input your PIN in person when paying for something, by providing your card to make a transaction or a number of transactions (may be referred to as a continuous payment authority), when you input your card number during an online checkout process or when you set up a standing order, payment or direct debit to pay a person or organisation.
    6. You cannot stop a transaction after it has been transmitted to us by you giving your consent to the transaction, or once you have given your consent to the supplier for a pre-authorised payment (e.g. continuous payment authorities or recurring payments). Where you have provided a person or organisation with your consent to a recurring payment or continuous payment authority, you can contact us to cancel this. You must also contact the person or organisation you are paying. You will still be responsible for any money you owe. You must contact us before 2pm at the latest on the working day before the payment is due. If you do not cancel the payment by the deadline specified above, we cannot accept responsibility for any payments that are subsequently debited to your card and you will need to contact the person or organisation you are paying to cancel the payment.
    7. You may choose to temporarily freeze your U Card on the website through the card management area. Payments will not be made from your U Card whilst your U Card is frozen. You can unfreeze your U Card it at any time through the card management area.
    8. Should we block your U Card and/or account, no payments will be made from your card and/or account until the card and/or account has been unblocked. U accepts no responsibility for payments that were not paid in to or out of your card and/or account as a result of a block on your U Card and/or account.
    9. If your card is lost or stolen, you must log in to your account and notify us that your card is lost/stolen using the card management area on the website or app or call us immediately on 0330 088 3840 (we have a 24-hour service to report your card as lost or stolen) so that we can stop your card and PIN.
    10. We reserve the right to restrict your U Account. If we restrict your U Account, we will contact you to tell you this. We may ask you to provide further information or documents in order to remove any restrictions from your account.
  6. Your obligations

    1. Terms of use: Your use of the Website shall be in accordance with our Terms of Use, which form part of these Customer Terms.
    2. Password: When you open a U Account through us, you will be asked to create a password for accessing your U Account and other services available when you log in. You must keep that password confidential and notify us immediately if any unauthorised third party becomes aware of that password or if there is any unauthorised use of your email address or the Services, or any breach of security known to you. You agree that any person to whom your email address and password is disclosed is authorised to act as your agent for the purposes of using (and/or transacting via) your registration and the Services that can be access through it. Please note that you are entirely responsible if you do not maintain the confidentiality of your password.
    3. You must keep any information you provide to ensure secure access to your U Account confidential.
  7. Limitation of liability

    1. Liability that we do not limit: Nothing in these Customer Terms shall exclude or limit:
      1. our liability for (i) fraud (ii) death or personal injury caused by our negligence; or (iii) any other liability which cannot be excluded or limited by applicable law; or
      2. your statutory rights as a consumer.
    2. Our liability: We will only be liable to you if you suffer a loss as a result of our breach of these Customer Terms.
    3. We shall accept no liability in relation to U Cards and U Accounts, which are provided by Modulr. The U Account and Card are subject to separate terms and conditions;
    4. We will not be liable for:
      1. Any abnormal or unforeseeable circumstances outside our reasonable control (for example, a failure of computer systems which happens for reasons outside our reasonable control or any industrial action which happens for reasons outside our reasonable control) if this prevents us from providing our usual service;
      2. Any person refusing to accept payment; or
      3. Any cash dispenser failing to issue cash.
    5. We will not be liable for the way in which you are told about any refusal or delay.
    6. In case of errors or disputes about transactions, contact us in ways described on our website
  8. Termination

    1. Amendment and Removal of the Website: We may change or remove the Website or any part of it, change or remove the Services with immediate effect. Without notice to you, subject to your Modulr Terms and Conditions, we may advise Modulr to terminate your U Account at any time without notice to you if we have reason to believe that:
      1. you are under 18 years of age
      2. you are not resident in the United Kingdom;
      3. your email address that you provide to us is not valid;
      4. there has been fraud or misuse of your U Card or U Account, 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 or are permitted to do so. In these circumstances, we may:
        1. ask you what you want us to do with any unused funds;
        2. send you a cheque for the amount of any unused funds to the address we hold for you; or
        3. return any unused funds to where they originated within 3 months of the date we tell you that your U Card and U Account is closed
      5. there has been no activity on your U Account for a period we determine from time to time
    2. Event Outside Our Control: We may terminate your registration with us in accordance with Clause 9.2
    3. Termination by you: You may request termination of your U Account through us at any time by logging into your U Account and using the secure message facility. You may also contact us to request termination of your U Account through the contact options listed on the website from time to time.
    4. Rights and remedies: Termination of your U Account shall be without prejudice to any accrued rights or remedies of either us or you.
    5. Following termination: Following termination of your U Account for any reason, you will not be able to access our Services or use the U Card or U Account or in general access any of the Services.
    6. Clauses surviving termination: Clauses 1, 3, 5, 7, 8, 10 and 12 shall survive termination of the registration with us for any reason.
  9. Notices

    1. Giving a notice: Any notice given to either us or you by the other under or in connection with these Customer Terms shall be in writing, addressed (as applicable) to us at our registered office or addressed to you at such address as you may have specified to us from time to time, and shall be delivered personally, sent by pre-paid first class post, recorded delivery or commercial courier or by secure message or by email to the email address currently registered with us.
    2. When a notice is considered delivered: A notice will be deemed to have been received: if delivered personally, when left at the address referred to in Clause 11.1; if sent by pre-paid first class post or recorded delivery, at 9.00 am on the second Business Day after posting; and, if delivered by commercial courier, on the date and at the time that the courier's delivery receipt is signed, or if we receive no notice of undelivered email
  10. Events Outside Our Control

    1. No liability: Subject to Clause 7.1, we will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Customer Terms that is caused by an Event Outside Our Control.
    2. Meaning of an Event Outside Our Control: An "Event Outside Our Control" means any act or event beyond our reasonable control, including strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks.
    3. What happens following an Event Outside Our Control: If an Event Outside Our Control takes place that affects the performance of our obligations under these Terms:
      1. we will contact you as soon as reasonably possible to notify you; and
      2. our obligations under these Customer Terms will be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control. Where the Event Outside Our Control affects our performance of our responsibilities under these Customer Terms, we will restart the performance of those responsibilities as soon as reasonably possible after the Event Outside Our Control is over.
      3. Termination following an Event Outside Our Control: You may terminate your registration with us if an Event Outside Our Control takes place and you no longer wish to make use of the Services. Please see your termination rights under Clause 8. We will only terminate the contract if the Event Outside Our Control continues for longer than four weeks, in which case such cancellation shall have immediate effect.
  11. Complaints

    1. We value your satisfaction with the Website and your registration with us. You may contact us at any time using the contact details given at the beginning of these Customer Terms. if you would like to make a complaint, our Complaints Procedure can be found here
  12. Data Protection

    1. Please see our Privacy Notice and Website Terms of Use which forms part of these Customer Terms.
  13. General

    1. Contact: We will correspond with you on the secure message facility or other communication channels listed on the U website from time to time. If you are not a U customer or are a U customer but having difficulty in logging into your U Account we will correspond with you by email.
      If you wish to contact us please log in to your U Account at www.uaccount.uk and click on Help to send us a secure message. If you do not have a U Account just click on the Help option on the U website.
    2. Third party rights: A person who is not us or you shall not have any rights under or in connection with these Customer Terms.
    3. Transfer by you: These Customer Terms are personal to you. You may not assign, transfer, charge or otherwise encumber, create any trust over, or deal in any manner with, these Customer Terms or any right, benefit or interest under them, nor transfer, novate or sub-contract any of your obligations under them, without our prior written consent (such consent not to be unreasonably withheld or delayed).
    4. Transfer by us: We may transfer our rights and obligations under these Customer Terms to another organisation, and we will always inform you if that happens, but this will not affect your rights or our obligations under these Customer Terms.
    5. Waiver: If we fail to insist that you perform any of your obligations under these Customer Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.
    6. Severance: Each of the provisions of these Customer Terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining provisions will remain in full force and effect.
    7. No partnership: Nothing in these Customer Terms shall constitute a partnership or employment or agency relationship between us and you.
    8. Governing law: These Customer Terms and any dispute or claim arising out of or in connection with them (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law.
    9. Jurisdiction: You submit to the exclusive jurisdiction of the English courts to settle any dispute or claim arising out of or in connection with these Customer Terms or their subject matter or formation, except where, by law, such dispute or claim must be brought in the jurisdiction in which you are domiciled, or where the relevant law contains mandatory provisions that override such exclusive jurisdiction.

Terms of Use

These Terms of Use apply to www.uaccount.uk (the “Website”) and which is owned and operated by Shelby Finance Ltd, trading as U (“we”, “us” or “our”). By using the Website you are deemed to have agreed to these Terms of Use, therefore if you do not wish to be bound by the Terms of Use, you should not access or use the Website.

Using the website

Whilst we try to make sure our Website is available 24 hours a day, sometimes we may have to carry out maintenance, or updates, which make the Website unavailable for a short period of time. We will not be liable for any period of unavailability. Wherever possible, we will let you know of any planned maintenance in advance.

We may restrict access to the Website at any time for any reason without notice.

If you submit any information to the Website, you must read our Privacy Notice which explains how we handle your personal details.

We make no guarantees that the Website will be secure or free from bugs or viruses. You must not knowingly introduce any viruses, Trojans or any other material, code or programs which are malicious or technologically harmful, or intended to damage or interfere with the Website or any other system or information.

You must not use our Website in any way which is fraudulent, criminal or unlawful.

Website Content

We reserve the right to change or update any content on the Website. We will always try to ensure that all the information included on the Website is correct and up to date. However, we have no obligation to inform you of any content which is incorrect, out of date, irrelevant or incomplete.

The content on the Website is provided for general information only and does not constitute advice in any form, nor is it an invitation to subscribe to any of our products or services; instead it is designed to tell you more about us and the services we offer.

We are the owner or licensee of all intellectual property rights to the Website, including its content, unless otherwise stated. This includes, but is not limited to, copyright, registered and unregistered trademarks and database rights. The trademarks that we own include, but are not limited to, Unbank, and the orange ‘U’ logo.

You may copy or download any part of the Website for your personal use only and must not change the materials you have copied or downloaded in any way. Any other reproduction of the Website or its content is prohibited without our prior written consent.

Cookies

Cookies are small text files containing information, that your computer or mobile device download when you visit a website. We use cookies on the Website, although you have a choice as to whether to allow the use of some of them. For further information on cookies, please visit the cookie preference centre which you can access in the footer at the bottom of the page.

Third Party Links

We may provide links to other websites not owned or operated by us. We are not responsible for the accuracy or content of these websites or resources. It is your duty to ensure that you comply with any them. We accept no liability for your use of any of the third-party websites we link to.

Linking to the website

You may link to the homepage (www.uaccount.uk) of the Website, however, in doing so you must not:

  • link to the Website from a website that you do not own;
  • create a frame or any other browser or border environment around the Website;
  • imply that we are endorsing your website in any way, or endorsing any products or services other than our own;
  • charge any fee to any third party in order to use such link or to otherwise access the Website;
  • say anything that is false, misleading, derogatory or offensive about us or our services;
  • have any content on your website that is distasteful, offensive or controversial, infringes any intellectual property rights or other rights of any other person or otherwise does not comply with all applicable laws;
  • state that we endorse, are related to, or responsible for any products or services not owned by us;
  • misrepresent your association with us nor present or make available any false or misleading information about us.

Our liability

Your access and use of the Website and the information published on it is at your own risk. We shall not be liable for any claims, losses, demands or damages that you or a third party may incur in connection with using or not being able to use the Website, or any action or decision taken from using the Website.

We accept no liability for changes made to the Website or its content by unauthorised third parties.

However, nothing in these terms shall impact our liability for death or personal injury caused by our negligence; our fraudulent misrepresentation or any other liability, the extent of which cannot be excluded or limited under applicable law.

Whilst maintaining security controls on our Website, we cannot guarantee the security of communications. Therefore we accept no liability for a breach of security of any communications sent by you to us using the Website, all such communications are at your own risk.

Changes to these Terms of Use

Please check these Terms of Use regularly. We can update them at any time without notice.

You’ll agree to any changes if you continue to use the Website after the Terms of Use have been updated.

Governing law

These Terms of Use are ruled by and interpreted under English law. Both we and you will resolve any disputes in connection with these Terms in the English courts.

Privacy Notice

  1. Why do we have a Privacy Notice

We are giving you this notice because we want you to feel confident about the privacy and security of your personal information and because we would like to explain how we will use and process it. Shelby Finance Ltd, trading as ‘Dot Dot Loans’ and ‘U’, (“we”, “us”, “our”, “Shelby Finance”) is the controller under applicable data protection laws. Shelby Finance is a subsidiary of Morses Club PLC. Whether you have a U Account, a Dot Dot loan, or both products, we (Shelby Finance) are the controller. We are a single controller which operates our business under two separate brands.

When we refer to "personal information" in this Privacy Notice, we mean information which identifies you as an individual (whether on its own or in connection with other information that we hold about you). For example, your name, address, email address, phone numbers, and perhaps some less obvious details like a list of payments you already make and the IP address relevant to you as a visitor to our Dot Dot Loans and U Account websites or as a user of the U Account mobile app. More details below.

We have a Data Protection Officer who can be contacted by email at [email protected], by telephone on 0330 045 0725 or by post at:

Data Protection Officer

Morses Club PLC

Kingston House

Centre 27 Business Park

Woodhead Road

Birstall

Batley

WF17 9TD

In addition, please refer to the ‘Contact Us’ section (below).

Please read this Privacy Notice carefully.

  1. What does this Privacy Notice cover?

This Privacy Notice applies to how Shelby Finance Ltd deals with your personal information which is collected through our www.dotdotloans.co.uk or our www.uaccount.uk websites (our “websites”), or the U Account mobile app. We will collect and process personal information about you when you visit the websites or use the U Account mobile app. We process your personal information when you apply for one of our financial products and afterwards (whether your application is successful or not) and when we are otherwise in contact with you (for instance when you call us or email us). It does not apply to any other organisation or to any other organisation’s website even if you access them through our websites or the U Account mobile app. If you disclose your personal information to other companies your information will be dealt with according to their own privacy policies and practices

  1. What personal information do we collect about you, and when do we collect it?

We collect the following personal information about you. Unless we indicate otherwise, these items of personal information are relevant to U Account and Dot Dot Loans customers.

Category of Personal Data: Collected From:
Your full name and initials* You - Completing an application form or contacting us, or from brokers and other providers of financial products
Your postal address(es)* You - Completing an application form or contacting us, or from brokers and other providers of financial products
Your date of birth* You - Completing an application form or contacting us, or from brokers and other providers of financial products
Your marital status* and your title, e.g. Mr/Mrs/Miss/other title.
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us, or from brokers and other providers of financial products
Your title e.g. Mr/Mrs/Miss/other title. This can reveal your marital status but we do not expressly ask for details of marital status
This is only relevant to U Account – not Dot Dot Loans
You - Completing an application form or contacting us, or from brokers and other providers of financial products
Your contact telephone numbers (daytime and evening – this will include mobile telephone numbers and/or fixed line numbers depending on which you choose to give)* You - Completing an application form or contacting us, or from brokers and other providers of financial products
Your email address* You - Completing an application form or contacting us, or from brokers and other providers of financial products
For U Account: Your Nationality* You - Completing an application form
Your IP Address* From your use of our Websites (and the U Account mobile app)
For Dot Dot Loans: Your country of location*
For U Account: We do not expressly ask for your country of location, but your IP address and the transactional information referred to at the end of this table can reveal this detail
From your use of our Websites (and the U Account mobile app)
The make and model of your mobile phone or other device used to access our Websites or the U Account mobile app / your Device ID
This is only relevant to U Account – not Dot Dot Loans
From your use of our U Account Website (and the U Account mobile app)
The amount of time your device spends on our Websites or the U Account mobile app
For U Account: This detail is collected by Google Analytics cookies. Please see the U Account ‘Cookie Preferences’ link on our Website.
From your use of our Website (and the U Account mobile app)
Your employment details and status* You - Completing an application form or contacting us
Your salary details (including pay date frequency)*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form
Details of your non-salary income*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us
Details of your regular or one-off expenses*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us
Your requested loan amount and term*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us, or from brokers and other providers of financial products
The reason for your loan*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us, or from brokers and other providers of financial products
Details of your payment history for previous or active Shelby Finance products*
This is only relevant to Dot Dot Loans - not U Account
Our records of your previous or active products with us
Your credit status and history (including the information set out in Section 7 below)*
This is only relevant to Dot Dot Loans - not U Account
Credit reference agencies and fraud prevention agencies
Your history of name changes*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us. We will also receive information about your history of name changes from credit reference agencies (see “Credit Checking and Account Management” below)
The following information is only relevant to U Account - not Dot Dot Loans. We do not expressly ask for your history of name changes but if you choose to update your name on your U Account (e.g. if you change your name after getting married) we will know what you were previously called and what you are now called. From your use of our U Account Website (and the U Account mobile app)
Your postal address history* You - Completing an application form or contacting us. We will also receive information about your history of name changes from credit reference agencies (see “Credit Checking and Account Management” below)
Bank account details* - applicable to our short-term loans
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us
Bank account details* - applicable to our short-term loans
This is only relevant to Dot Dot Loans - not U Account
At the loan application stage - from a third-party income and expenditure verification service via Open Banking. This third party is called Consents.online (see “Our use of Open Banking for long-term loan applications” below)
During your loan – you contacting us
Bank account balance and incoming and outgoing transactions for the last six months* - applicable to our long-term loans
This is only relevant to Dot Dot Loans - not U Account
From a third-party income and expenditure verification service via Open Banking. This third party is called Consents.online (see “Our use of Open Banking for long-term loan applications” below)
Debit Card Details*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us
The number of children or dependents in your household
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us
Your residential status (whether you own or rent your home)*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us
Details of whether you have any special needs, health conditions, or are otherwise vulnerable - if you choose to make us aware of these, or in the event we are otherwise made aware of these via someone else You - Completing an application form or contacting us Third parties such as your friend, partner, relative or other person who contacts us on your behalf
Your marketing preferences You - Completing an application, or where you otherwise contact us to inform us of your marketing preferences
Your signature*
This is only relevant to Dot Dot Loans - not U Account
You - Completing an application form or contacting us
Your comments or other information entered into via our “Contact Us” page, any customer satisfaction surveys and/or in any correspondence between us You - Completing an application form or contacting us
Your identification information contained within a scanned copy of your personal identification documentation (e.g. driving licence or passport)* This is mandatory on the basis that it must be provided if you are asked to supply it (i.e. if we decide we need to verify your identity for your application to progress)
For U account this will include the country of origin for this type of documentation
The following information is only relevant to U Account – not Dot Dot Loans. If we verify your identity this will result in us holding the result of what we call a ‘know your customer’ check. This essentially means we record that we have checked your identity using your identification information.
You – Upon our request for copies of this documentation when processing your loan application or when you apply for a U Account
Your financial information contained within personal documentation (e.g. wage slip)*
This is only relevant to Dot Dot Loans - not U Account
You – Upon our request for copies of this documentation when processing your loan application
Transcripts of customer service interactions through email, secure messaging and Live Chat. You – When discussing your loan account or your U Account with one of our representatives
Transactional information about payments to and from your U Account* This means transaction, account and card data which is visible to us from the use you make of your U Account, such as details of transactions in and out of your U Account, including salary and other income, regular or one-off expenses, and payments to or from your U Account made using accounts you hold elsewhere (which therefore relate to you) This is only relevant to U Account – not Dot Dot Loans You – when you use your U Account. We use this to manage your U Account

* The processing of these categories of personal data is mandatory in order to assess your eligibility for one of our financial products and to enable us to administer it during its term. A failure to provide this information may result in us being unable to offer our products to you.

If we have purchased your account from another provider, we will have obtained your personal information from that other provider (instead of from you). This will have been explained to you in the ‘welcome letter’ we addressed to you.

  1. Cookies relevant to Dot Dot Loans and U Account customers

Our Websites (and the U Account mobile app) use cookies to distinguish you from other users of our Websites or that app.

Dot Dot Loans customers: Please read the Cookie Policy on our Website for more information about which cookies we use. A link to our Cookie Policy is presented to you when you first visit our Website so that you can decide whether to consent to non-essential cookies.

U Account customers: Please see the U Account ‘Cookie Preferences’ link on our Website for more information about which cookies we use. This link is presented to you when you first visit our Website so that you can decide whether to consent to non-essential cookies.

To find out more about cookies, including how to see what cookies have been set and how to manage and delete them, visit: http://www.allaboutcookies.org/

  1. For what purposes do we use your personal information?

We will use your personal information in the following ways:

Purpose Categories of personal data Lawful basis for processing
To verify your identity.
To enable us to consider and process your application for our products and services.
To verify your credit standing (Dot Dot Loans customers only).
To verify your income and expenditure (Dot Dot Loans customers only).
To comply with the Financial Sanctions regime.
To check against the list of Politically Exposed Persons.
All categories of personal data set out in Section 3 above except your marketing preferences.

This processing is necessary for the performance of our contract with you. This processing is necessary for compliance with legal obligations to which we are subject.

In relation to verifying your credit standing and income and expenditure, our processing is also necessary for our legitimate interest of making sure that we enter into loan agreements with customers whose credit history does not expose our business to undue risk and our legitimate interest of acting as a responsible lender or service provider (Dot Dot Loans customers only).

In relation to Financial Sanctions, our processing is also necessary for our legitimate interest of making sure that we meet the expectations of the Financial Conduct Authority (FCA) by having systems and controls in place to guard against the risk of financial crime. We must not carry out transactions with, or provide any financial services to, any person who is subject to a financial sanctions order from the government. We will check you are not subject to a financial sanctions order. We will screen all existing and new customers against the HM Treasury (HMT) list of financial sanctions orders. We will check for any updates to the HMT list.

In relation to Politically Exposed Persons/high-risk customers our processing is also necessary for our legitimate interest of making sure that we meet the expectations of the Financial Conduct Authority (FCA) by having systems and controls in place to guard against the risk of having a customer who is a Politically Exposed Person (PEP). We will check you are not on the list of PEPs and that you are not an immediately family member or close associate of a PEP. A PEP is an individual whose prominent position in public life may make them vulnerable to corruption.

To assess your credit history (Dot Dot Loans customers only) and confirm your employment details (as explained further in Sections 6 and 7). All categories of personal data set out in Section 3 above and Sections 6 and 7 below - except your marketing preferences.

This processing is necessary for the performance of our contract with you. This processing is necessary for compliance with legal obligations to which we are subject.

In relation to assessing your credit history, our processing is also necessary for our legitimate interest of making sure that Dot Dot Loans enters into loan agreements with customers whose credit history does not expose our business to undue risk and our legitimate interest of acting as a responsible lender, or service provider (Dot Dot Loans customers only).

To perform actions in line with the contract we have with you (the agreement) including administering and servicing this agreement and setting up payments, if necessary.

In addition, sending you customer service communications and replying to questions you ask/enquiries you make in relation to our contract with you. For example, from time to time we need to let you know about certain things that are happening with your account, for example, to alert you to a failed payment or following a request to reset your password. We may also need to correspond with you if you contact us for assistance. We’ll usually (though not always) send these communications to you by email or within your online account. We may occasionally call you by telephone for this purpose.

In addition, sending you legal and regulatory information in relation to our contract with you. For example, when we need to tell you about changes to our policies, terms or conditions. We’ll usually (though not always) send these communications to you via email or as a message within your online account. We may also occasionally need to send these to you by post.

All categories of personal data set out in Section 3 above - except your marketing preferences.

This processing is necessary for the performance of our contract with you.

This processing is necessary for compliance with legal obligations to which we are subject.

To collect unpaid amounts that may be owed by you in relation to any Dot Dot Loans. All categories of personal data set out in Section 3 above except your marketing preferences. This processing is necessary for the performance of our contract with you.

To develop and manage our products and services in order to meet your needs and those of our customers more generally, and to determine your own eligibility for the different ranges of products and services from Shelby Finance (current products and products to be offered in the near future) which we consider you may be interested in. ‘Products and services’ here means financial ones – such as loans, credit, accounts.

As an example – if you repaid your Dot Dot loan as anticipated we may wish to provide you with information about our U Account product or our future products and services offered under the Dot Dot Loans brand, the U Account brand or any future brand that belongs to us. If you are a U Account customer, we may wish to provide you with information about our Dot Dot Loans product or our future products and services offered under the Dot Dot Loans brand, the U Account brand or any future brand that belongs to us. This is what we call ‘cross marketing’.

This processing is unlikely to happen if you defaulted or have an arrears history in relation to a Dot Dot Loans product, of if we consider you to be a fraud risk based on your current or historic activity in relation to a Dot Dot loan and/or with a U Account.

What we have described above means we will be carrying out some profiling, i.e. looking at your behaviour, including in an automated way, in relation to the products and services you have from us, to see if you could be a potential customer for other products and services from us.

All categories of personal data set out in Section 3 above. This processing is necessary for our legitimate interests of creating new or updated products and services to improve our service offering to existing and potential new customers and our legitimate interests in finding out which of our customers could be a potential customer for other products and services from us.
To notify you about changes to our website, the U Account mobile app, our services or our products (this means service communications – not marketing communications). All categories of personal data set out in Section 3 above. When we notify you about changes to our website, that app, or services or our products, this will be for the performance of our contract with you.

For us to communicate with you to provide you with marketing information about our own products and services that you request from us or our other products and services (see above where we call this ‘cross marketing’), or about products and services from Morses Club PLC.

To share your name and contact details with Morses Club PLC for its own marketing.

All categories of personal data set out in Section 3 above.

For our own marketing to our own customers about our own existing and new products and services - the processing of your personal information is necessary for our legitimate interests of promoting those products and services. We would explain how to opt-out of our marketing. We would remind you of how to opt-out in each marketing communication.

For our own marketing to our own customers about existing and new products and services from Morses Club PLC – the processing would be with your opt-in consent. You can withdraw that type of consent at any time.

For marketing from Morses Club PLC about its own existing and new products and services – and our sharing of your name and contact details to that end – the processing would be with your opt-in consent. You can withdraw that type of consent at any time.

For our own marketing based on legitimate interests we need to tell you about a balancing test we have performed. We have balanced our legitimate interests in promoting our business and our own products and services to you as against your own rights and freedoms which require us to protect your personal information and we have carefully determined that your own rights and freedoms will not be overridden when we send you our marketing. We will not send you an excessive number of marketing messages over any given period; we will respect any request from you asking us to stop our marketing within a reasonable period; we will only be marketing our own products and services which are similar to those you already hold (i.e. all are financial products); we will suppress your contact details in our marketing database where we have identified you as a vulnerable customer and/or as being in arrears or default on any Dot Dot loan; and by making sure you know how to stop our marketing. We would remind you of how to opt-out in each marketing communication.

In all cases you can object at any time to our direct marketing or stop our marketing. For the simple way to stop our marketing see section 15 below. You can also find out about how to object by using your rights under data protection law. See section 12 below.

You can object to or stop marketing from Morses Club PLC at any time and to do this you should use its own contact details which will be in the marketing communication itself.

Customer satisfaction surveys to monitor and improve the quality of our product and service offerings (which may involve using your data in quality and performance training). Your full name and initials; postal and correspondence address(es); contact telephone numbers; email address; comments or other information provided via our “Contact Us” page, any customer satisfaction surveys and/or in any correspondence between us. This processing is with your consent.
To undertake market analysis, forecasting, business planning and auditing exercises in connection with our business. All categories of personal data set out in Section 3 above - except your marketing preferences. This processing is necessary for our legitimate interests of management planning and forecasting in relation to our business.
To contact you in connection with any enquiries that you raise. All categories of personal data set out in Section 3 above - except your marketing preferences. This processing is necessary for our legitimate interests of responding to questions and comments raised by individuals that contact us.
To detect, prevent and investigate fraud and money laundering. We may use information provided by fraud prevention agencies as part of this, as well as social media sites to check information you have supplied to us if you have made your profile on those sites public/viewable by others based on your privacy settings All categories of personal data set out in Section 3 above - except your marketing preferences. This processing is necessary for compliance with legal obligations to which we are subject. Our legitimate interests in taking steps to protect our business from the risk of fraud and money laundering, is also relevant.
To comply with laws and our regulatory requirements. All categories of personal data set out in Section 3 above. This processing is necessary for our legitimate interests of complying with laws and regulatory requirements.
To, establish, defend, exercise, enforce or to protect our rights, property or safety, or that of our customers, employees or other persons with whom we have a business relationship. All categories of personal data set out in Section 3 above - except your marketing preferences. This processing is necessary for our legitimate interests of establishing, defending, exercising, enforcing or protecting our rights and others with whom we have a business relationship.
For monitoring and recording of telephone calls and email communications where necessary for compliance with regulatory rules or self-regulatory practices or procedures relevant to our business, to prevent or detect crime, for quality, training and security purposes. All categories of personal data set out in Section 3 above - except your marketing preferences. This processing is necessary for our legitimate interests of complying with regulatory rules and ensuring we are implementing quality checking and compliance processes.
To assist you with our products and services in the event we become aware you require additional support, have special needs or are otherwise vulnerable because of a physical or mental health issue. All categories of personal data set out in Section 3 above - except your marketing preferences.

In most cases this processing is necessary for reasons of the substantial public interest of safeguarding your economic wellbeing if we become aware you are at economic risk as a result of a physical or mental injury, illness, health condition or disability. In exceptional cases, we may have to do this processing to protect a customer’s vital interests or those of another person and when the customer is incapable of giving a valid consent. Vital interests mean there is a threat to the customer’s life or someone else’s life, or a real risk of very serious harm to a customer or another person.

We will only ask for your explicit consent where we cannot rely on one of the lawful reasons mentioned directly above.

At the same time, this processing is necessary for our legitimate interests of complying with regulatory requirements about the fair treatment of vulnerable customers. We have balanced this against your own rights and freedoms, and they are not overridden in this context because this processing is what is necessary to enable us to treat you fairly and protect your own economic well-being. This information will only be available to people in our business who need to know it. We will duly observe the principle of data minimisation and will therefore only process this information where we reasonably believe it is necessary.

Sometimes (in rare cases) this processing will be necessary for our compliance with legal obligations (for example, if you have a disability which has to be noted and dealt with so that we can comply with legislation.)

To anonymise your personal data for market research, statistical and analytical purposes, including producing statistical research and reports All categories of personal data set out in Section 3 above - except your marketing preferences. This processing is necessary for our legitimate interests of creating anonymous data sets that we can use for research, statistical and analysis purposes.

To collect information from your browser and device when you access our websites or the U Account mobile app. To do this, we use software provided by a third party called Hotjar. Hotjar uses cookies and other technologies to collect data about how our customers use our websites and their devices.

Hotjar is forbidden to sell any of the data collected on our behalf.

We have configured the Hotjar service so that it does not collect key personal data you provide when submitting a loan application such as your name, address, bank account details and information about your employer.

You may opt-out of Hotjar collecting your information when visiting our Websites and the U Account mobile app at any time by visiting Hotjar’s opt-out page at https://www.hotjar.com/opt-out and clicking 'Disable Hotjar'. You will need to do this on each browser you use. Alternatively, you can prevent Hotjar from collecting your information by activating the “Do Not Track” setting in your browser, which will also opt you out of similar services that use this setting to disable tracking.

Device screen size, device type (unique device identifiers), browser information, geographic location (country only), and the preferred language used to display our website. This is your personal information because it all links to your IP address.

This processing is necessary for our legitimate interests of analysing users’ activities on our websites and their devices (e.g. how much time they spend on which pages, which links they choose to click, what users do and don’t like). This allows us to build a better user experience and service for our customers.

As Hotjar uses cookies which are not essential for our website and for the U Account mobile app to function, your consent will be required. This does not mean we are relying on consent as our lawful reason under data protection laws to process your cookie data used by the Hotjar service. For more information on cookies, please refer to our Cookie Policy.

Where we process any special category data about you, for example any health information you provide us with, we will process this only:

  • where you have given explicit consent to the processing of such data (we will only ask for this if we cannot rely on the alternatives below); or
  • for the establishment, exercise or defence of legal claims; or
  • where the processing is necessary for the purposes of carrying out obligations and exercising specific rights in the field of social security and social protection law; or
  • where you have manifestly made public that personal data; or
  • where the processing is necessary for reasons of substantial public interest, this means safeguarding (protecting) your economic wellbeing when a physical or mental injury, illness, health condition or disability you have made us aware of or which we otherwise become aware of puts you at economic risk, making it difficult for you to make repayments on your Dot Dot loan or to manage your U Account. As you can see from the table above, this is the lawful basis we will use in most cases where we process our customers’ special category data. We will usually explain this in more detail at the point (or shortly after the point) we are first made aware of a health issue that is affecting your economic wellbeing.
  1. Automated systems and processing of personal information

If you apply for a Dot Dot loan or a U Account we will use either/or credit scoring and other automated systems:

- to assess your application,

- to verify your identity;

- to prevent and detect fraud and money laundering; and

- to check you are not subject to any financial sanctions or are considered a Politically Exposed Persons.

Automated Decision Making

Our automated systems are used to make a recommendation about whether you should be accepted for a U Account or a Dot Dot loan (depending on which product you have applied to have).

In relation to Dot Dot Loans applicants:

These automated systems compare the information in your application form and information from a credit history check which is gathered from credit reference agencies (“CRAs”). In this way we can assess the risk of non-payment if we were to grant you a Dot Dot loan (see Section 7 for more details about what we obtain from CRAs). The personal information processed in our automated systems for this purpose includes your name, address(es), date of birth, employment status, salary, details of your non-salary income, details of your regular or one-off expenses, requested loan amount, reason for your loan, previous payment history, and credit status and history. We compare the information provided by the CRAs in an automated way against our customer database to evaluate whether you are likely to be able to repay your requested Dot Dot loan amount. Further details below.

In relation to U Account applicants:

The personal information processed in our automated systems which we use to assess your application and (where necessary) verify your identity includes your name, address, email address, date of birth, mobile number and IP address.

When you make an application for a Dot Dot loan or U Account, we will decide whether to offer you the product applied for using automated processes. This enables us to ensure that our decisions are made fairly and quickly and that our required criteria are consistently applied. As part of this process we need to: (i) verify your identity and (in relation to Dot Dot loans only) assess your ability to meet the terms of the product applied for, (ii)verify that there is no record held with the fraud prevention agencies linking to information you have provided during your application; and (iii) check whether you are on the HM Treasury Financial Sanctions list or the Politically Exposed Persons list. To do this we automatically request third party searches.

In relation to (ii) above: we use the information obtained from our third-party provider of financial sanctions information and Politically Exposed Persons list screening services. We simply take account of whether you are subject to financial sanctions or on the Politically Exposed Persons list. If you are have financial sanctions or are on the financial sanctions list, your application will be automatically declined.

In relation to (i) above: we use the information obtained from the Credit Reference Agencies which we refer to in Section 7 and analyse the results received. The factors considered during this decision-making process are:

  • the information provided by you on the application form;
  • information about any previous applications you have made or attempted to make;
  • information we hold regarding the account history of any products you have previously had from us;
  • information about your credit history which is obtained from credit reference agencies (this is only relevant to Dot Dot Loans); and
  • information about your identity which is obtained from credit reference agencies.

We regularly test our decision-making process to ensure it remains fair, effective and unbiased. We explain this in more detail below and have separated this into product specific sections, as follows.

Automated Decision Making – Dot Dot Loans

Step 1 - only relevant to previous customers and applicants: If you have previously applied for a Dot Dot loan and been declined within a period of 30 days prior to your current application, our systems will decline your application. If you are a previous customer of Dot Dot Loans, we will check our database to see whether you made your repayments as required. If you did not make your repayments on a previous loan as required, your application will be declined. If you did make your repayments, your application will pass to Step 2.

Step 2 - relevant to all customers and applicants: Our automated systems gather information from Credit Reference Agencies (see section 7) about your credit score and credit history (for example, how you have repaid other loans with other providers and whether you have defaulted). The systems check this information against what we call scorecards (more details below about these below) to generate a suitability score for your application (this means we grade you based on how likely you are to repay the Dot Dot loan amount which you have applied to have and whether the information available to us indicates you can afford the loan). If you do not meet the minimum suitability score, then your application will be declined. If you exceed the minimum suitability score, the systems will use the credit score and credit history information, as well as repayment history information relating to any previous loan you have had from us, to determine the maximum loan value that Dot Dot Loans will be able to offer you.

Scorecards are mathematical models which attempt to provide an estimate of the probability that a customer will display a defined behaviour (e.g. default on their loan) with respect to their current or proposed borrowing. Credit scoring typically uses observations and data from customers who fell into arrears or defaulted on their loans plus observations and data on a large number of customers who did not. This model can be used to predict the probability of arrears or default for other customers (this means you if you are applying for a Dot Dot loan) using the same observation characteristics (e.g. age, income, house owner etc.). The probability of you falling into arrears or defaulting are then scaled to a "credit score." This score ranks customers by riskiness without explicitly identifying their probability of default.

Additionally, the personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found at www.cifas.org.uk/fpn.

If your application satisfies Step 1 and Step 2, a final decision as to whether to accept your loan application and the value that Dot Dot Loans may loan to you is made in an automated way, i.e. without any lending decisions being made by a human.

Automated (and manual) Decision Making – U Account

All U Account applicants are subjected to Step 1 and it is always automated. When you apply for a U Account, we undertake automated checks with third parties to help us decide about your application. This means we will receive information from credit reference agencies to help us verify your identity, and we will also receive information from our third-party provider about whether you are subject to any financial sanctions or/and on the Politically Exposed Persons list. This happens in an automated way i.e. without any human making decisions about whether to approve your application or not.

Credit reference agencies (CRAs) may check the details that you supply against any particular database (public or otherwise) to which they have access. They will make an unrecorded enquiry, which is a search that was not made for lending purposes. It is not seen by lenders other than the one that carried out the search but is included on your credit report so that you know the search was made. It does not affect your credit rating, or score, when you apply for credit.

Additionally, the personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found at www.cifas.org.uk/fpn.

If your application satisfies the various checks involved in Step 1, you move to a Step 2, which is also automated. This is when a final decision about whether to accept your application for a U Account is made in an automated way.

If you do not pass one or more of the checks in Step 1 you will move to a Step 2, which is not automated. This is where one of our employees will manually review any information passed to us by the fraud prevention agencies and the information you provided in your application including your ID document (this means your passport or ID document) and your proof of address document (such as your utility bill). These individuals will take the final decision about whether to accept your application for a U Account based on the outcome of these checks.

Automated Decision Making – all U Account and Dot Dot Loans customers

You have a right to request that your application is reviewed by a member of our team, to express your point of view on the automated decisions that we make about you and to contest our decisions. This is the case for all of the automated decisions we mention above (i.e. identity verification, credit scoring, sanctions and the Politically Exposed Persons list). If you would like us to reconsider any decision made automatically, please contact us (as set out in the “Our Contact Details” section below). If you ask us to make a manually review an automated decision, we will do so but please note this means we will not be able to consider your application within our normal timescales.

As already mentioned, the decision about whether to provide a U Account to some applicants (i.e. those who pass Step 1) is fully automated without any human involvement, whereas the decision about whether to provide a U Account to some other applicants (i.e. those who do not pass any part of Step 1) always involves a human decision at Step 2. If you request a review of all automated decisions, we will explain which have already involved a human and then respond in relation to the automated decisions which remain.

  1. Credit Reference Agencies

U Account customers: If we need to verify your identity, we will share your personal information with CRAs and use information obtained from CRAs and this includes information about you taken from the electoral register. Credit history checks are not relevant to you (unless you apply for a Dot Dot loan).

Dot Dot Loans customers: If we need to verify your identity, we will share your personal information with CRAs and use information obtained from CRAs and this includes information about you taken from the electoral register. We will also do a credit history check with CRAs. See below for more details. We do not ask CRAs for information about associated persons such as your spouse or partner, though other companies may do that and for this reason the CRAs require us to tell you about this activity. That is why ‘financially linked records’ held at the CRAs are mentioned below.

More information about credit history checks - relevant to Dot Dot Loans customers only:

If you are applying for a Dot Dot loan, CRAs supply us with details of your credit history and associated information. When CRAs receive a credit history check request from us (this is what we refer to as a ‘credit application search’ below), they will record the details of that and place a search ‘footprint’ on your credit file. That footprint will be seen by other lenders and persons unrelated to us (i.e. the other customers of the CRAs) if they undertake credit checks on you in the future in connection with their own financial products and services. We will provide information about your agreement with us for your Dot Dot loan and your repayment performance to the CRAs. We report to these third parties at least once a month, including details of the payments you make, payments that you do not make on time and details on any default against this agreement. Our records will remain on your credit file for 6 years after they are closed, whether settled by you or defaulted by us.

Here is more information about how we carry out this activity in practice. If you apply for one of our credit products (this means a Dot Dot loan), we will firstly carry out a quotation search with the credit reference agency TransUnion. This is also known as a “soft search” and is not visible on your credit file to other lenders. This search provides us with information relating to your credit history and other associated information. We will then carry out a further soft search with the CRA to verify your identity and residence which, again, is not visible to other lenders. This search includes us being provided with information about you from the electoral register. If we make an offer to you and you accept this, we will carry out a credit application search and this will be visible on your credit file to other lenders.

If you take one of our credit products, we will provide information about this agreement and your repayment performance to the CRAs. We report to these third parties at least once a month, including details of the payments you make, payments that you do not make on time or fail to make, any repayment arrangement you may agree with us and details of any default against this agreement as a result of non-payment. This information will remain on your credit file for 6 years from the date your account is are closed, whether settled by you or defaulted by us. During the life of your Dot Dot loan we will need to conduct a further soft search with the CRAs every 12 months to comply with anti-money laundering laws; this search is not visible on your credit file to other lenders and will only be relevant if you have an open Dot Dot loan for 12 months or longer.

The personal data that we will share with CRAs include:

  • Your full name and initials;
  • Your postal and correspondence address(es);
  • Your date of birth;
  • Your marital status;
  • Your contact telephone numbers (daytime and evening);
  • Your e-mail address;
  • Your history of name changes;
  • Your postal address history;
  • Details of your payment history in relation to the credit product(s) you have with us

The CRAs can also share your information with other organisations (more details in the paragraph below).

The CRAs will provide us with the following information relating to you:

  • Your name and aliases;
  • Your date of birth;
  • Your address and contact details (including address links where it appears you have moved house);
  • Your financial details including details of your income/debts and repayment history;
  • Confirmation of bank account ownership;
  • Any court judgments that have been issued against you;
  • Any Bankruptcy, Individual Voluntary Arrangement (IVA), Debt Relief Orders (DRO) or other forms of insolvency / similar events relating to you;
  • Fraud prevention indicators;
  • "Gone away indicators" (which indicate whether you have left an address, deceased or partially settled your account);
  • Search footprints where enquiries have been made about you;
  • our credit scores and ratings;
  • Flags and triggers, for example where you may be flagged as subject to fraud, and indicators of the certainty of the information they provide;
  • Any Politically Exposed Persons (PEPs) and Sanctions data.

We and those other companies (meaning the other customers of the CRAs if they undertake credit checks on you in the future in connection with their own financial products and services) will use these records and other information to make credit decisions about you. The CRA records will also be used by those other companies (meaning the other customers of the CRAs) to make credit decisions about your current spouse, partner or other individual that has been financially linked or associated with you (for example if you have a joint account with them). Those other companies will: search, link and/or record information at CRAs about you both; link any individual identified as your financial associate, in their own records; take both your and their information into account in future applications by either or both of you (as relevant), and continue this linking until one of you notifies those other companies or the CRAs that you are no longer linked; links between all such persons will remain on your and their files at the CRAs until such time as you or the other relevant person successfully files for a disassociation with the CRAs. If your circumstances change such that you are no longer a financial unit with another person, you should contact the CRAs directly using the contact details in the “How to find out more about Credit Reference Agencies” section below.

  1. How to find out more about Credit Reference Agencies

More information about CRAs and how they use personal data is available at the following links:

  • For Experian: www.experian.co.uk/crain
  • For Equifax: www.equifax.co.uk/crain
  • For TransUnion: www.transunion.co.uk/crain

You can contact the CRAs as per the following:

  1. Our use of Open Banking

Dot Dot Loans customers: In order to be able to submit an application for one of our long-term loans (18 to 48 months), you will need to agree to our use of consents.online, a third-party Account Information Service Provider (AISP)for the purpose of them passing some of your financial information to us. Consents.online is an FCA regulated service that lets you grant us permission to view the information that appears on your bank statements through “Open Banking”. This is a paper-free way of you sharing your income and expenditure information with us so that we can thoroughly and fairly assess whether you can afford to take out a loan. It also removes the need for you to send bank statements, pay slips or other income and expenditure-related information to us.

You are not automatically opted in to Open Banking. You will only use it if you give permission for that to consents.online. This is what we mean by ‘consent’ throughout this section 9. If you give consent for this, consents.online will share your personal information (further details below) with Shelby Finance Ltd, trading as Dot Dot Loans. It is important to understand that ‘giving consent’ is in the context of consent under Open Banking regulations and is not the same thing as ‘giving consent’ in the context of consent under the General Data Protection Regulation (GDPR). The consent you give to consents.online is simply you giving your permission to them so that they can share your personal information with Shelby Finance Ltd in accordance with the contract they have with you. When you look at the privacy notice of consents.online you will see that they share your personal information with providers like us based on the GDPR lawful basis of it being necessary to administer the contract which they have with you. In turn, we then use this personal information for our legitimate interest of doing what we describe at the end of the paragraph directly above.

As part of the long-term loan application process, we will direct you to consents.online, who will ask you to provide your first and last name, email address and phone number. You will then be asked to select which bank/building society you hold your account with before being asked for your consent to access the following account information and share it with Shelby Finance Ltd, trading as Dot Dot Loans:

  • Name of your bank/building society
  • Your account name, number and sort code
  • Your account balance
  • Incoming transactions for the last six months
  • Outgoing transactions for the last six months

Once you have given consent to consents.online, a secure, encrypted connection will be made with your bank/building society and you will be asked to authenticate yourself in the same way as you would to access your online banking log in. Your bank/building society will then ask you to confirm that you would like to share your account information with consents.online before this is passed to them, who will then share it with us.

You will only be providing consent to consents.online accessing this information and sharing it with us on a one-off basis and we will be limited to read-only access and cannot make any changes to your bank account. We will not ever share this information with any other third party.

You can withdraw your consent to this service at any time by contacting consents.online by email at [email protected] or telephone on 0800 180 8570. This means withdrawing your permission – this is not the same thing as withdrawing a GDPR consent and we have explained why above. Withdrawing your consent means that consents.online will delete their record of your statement data and we will no longer be able to access it, though we will retain a record that we referred to consents.online in order to make a lending decision regarding your loan.

We will use this information as part of our credit and affordability checking processes, which includes verifying your income and expenditure, in order to decide whether we can offer you a long-term loan. We will notify you of the outcome of this review within one working day.

If you do not agree to consents.online supplying us with your bank account information via Open Banking, you will not be able to complete your long term-loan application and we will not be able to consider whether we can enter into a contract with you to provide you with this kind of loan.

When consents.online uses your personal information, it will be acting as a controller of that information. It will process your information in its own name as it has the sole mandate for that (which means it takes all decisions in relation to its own use of your personal data and we have no control over its use of your personal data). Please read consents.online’s privacy notice for more information about how it will process your personal data as a data controller. You will be able to view this once we direct you to consents.online’s website towards the end of your application.

U Account customers: Under the Payment Services Directive (PSD2), U Account has a regulatory obligation to allow authorised Account Information Services Providers (AISPs)) to access account and transaction information when our customers have given consent for this to happen. This allows the customer to add their U Account information to an AISPs single, consolidated view of the financial products held by that individual.

If you ask a TPP to provide this service to you, they will establish a secure, encrypted connection with U Account and we will then confirm that they are permitted by the Financial Conduct Authority to obtain this information from us through a check conducted by a third party called Konsentus. If this check is completed successfully, you will then be asked to log in to the U Account consent portal using your usual username and password, so that a one-time passcode can be sent to your mobile phone. Once you have confirmed the passcode, you will then be asked to confirm you would like us to share the following U Account data with your chosen AISP:

  • Name of your account provider (this is U Account)
  • Your account name, number and sort code
  • Your account balance
  • Details of incoming transactions
  • Details of outgoing transactions

Once you have agreed to the above information being provided to the AISP, we will obtain the relevant account and transaction data and send it to them, and you will then be able to view this information on the AISPs website/app.

Your consent will be valid for 90 days, which means after this time we will not provide your chosen AISP with any further information regarding your U Account unless you provide a new consent. You can also withdraw your consent to us sharing this information with your AISP at any time by contacting them directly or within your U Account login area/mobile app.

Any AISP you use to obtain information regarding your U Account will be acting as controller of that information, which means we will have no control over their use of your personal data. Please ensure you read your chosen AISP’s privacy notice so that you understand how it will use your information.

  1. Do we share your personal information with anyone else?

If you have a U Account we will need to share your personal information with Modulr who provides the key processes and functionality of U Account.

When Modulr uses your personal information to maintain a safeguarding account for the purposes of holding funds for each card, Modulr will be a controller of your personal information. This is because it will do that in its own name, and it has the sole mandate for that (meaning we have no control over that, and it takes all the decisions in relation to that). You will need to read the privacy notice of Modulr for more information about how it processes your personal information as a data controller, which you can find here: https://www.modulrfinance.com/privacy-policy.

U Account includes the ability to have pre-paid cards and we need Modulr to provide those cards. Modulr will be our data processor for this. Its own privacy notice is not relevant to this. Instead our privacy notice applies to this.

In addition, as part of our usual business activities we may share your details with:

Dot Dot Loans customers:

  • debt collection agencies, if your Dot Dot loan falls into arrears, to enable them to contact you (whether in person, by post, email or telephone) and recover the sums owed

U Account customers/applicants:

  • our third-party provider who sends marketing emails on our behalf in relation to our U Account
  • our third-party provider who sends non-marketing service emails on our behalf in relation to your U Account
  • any other payment service provider when necessary in trying to trace a payment paid to the wrong person in relation to your U Account
  • any other payment service provider when necessary in trying to trace a payment paid to the wrong person in relation to your U Account
  • our third-party provider who completes checks on all the information you provide during the course of your application
  • our third-party provider who holds your personal information on our behalf for its card bureau services relating to your U Account
  • our third-party provider who provides a transaction monitoring service to us designed to flag certain types of activity, such as potential fraud
  • Visa (relevant to transactions using your U Account pre-paid card)
  • Paypoint (relevant to cash deposits using your U Account)

List for all customers/applicants:

  • our market research provider to enable them to conduct customer satisfaction surveys on our behalf to monitor and improve the quality of our product and service offerings (see the table above for more details about what personal information is shared for customer satisfaction surveys)
  • our professional legal, accountancy and other advisors and auditors based in the United Kingdom in order to obtain legal, accountancy and other professional advice
  • our IT service providers based in the United Kingdom that provide network and storage infrastructure and/or software programs and support to us in connection with the operation of our business
  • fraud prevention agencies
  • mail houses to enable them to print and send non-marketing communications to you via post on our behalf
  • our third-party provider of HM Treasury Financial Sanctions list and Politically Exposed Persons list screening services (relevant to U Account and Dot Dot Loans applicants)
  • our third-party provider of identity verification and credit scoring checks (relevant to U Account and Dot Dot Loans applicants)
  • our third-party payment providers to enable us to process debit card transactions or Direct Debits when you make any repayments in relation to a Dot Dot loan, i.e. one of our credit products, by these methods, and to allow us to act as a payment service provider when you make payments using a U Account
  • Where we have received your personal details from a third-party broker of financial products, we will notify them of whether you are eligible to apply for one of our products and whether you have subsequently obtained a product from us. We do not obtain lists of information from brokers for any marketing purpose – this is only about dealing with their referral to us about you as a potential customer.
  • We will disclose your personal data to third parties if we are under a duty to disclose or share your personal data in order to comply with any laws, regulations or good governance obligations, or in order to enforce or to protect their rights, property or safety, or that of our customers or other persons with whom we have a business relationship. These third parties will include (without limitation) the Courts, the Financial Conduct Authority, the Financial Ombudsman Service, the Information Commissioner’s Office, the police, Action Fraud, the National Crime Agency, HMRC, HM Treasury and the Department of Work and Pensions. Our disclosures of your personal information to the Courts, to government departments and to regulatory bodies who have the power to compel that disclosure because of their statutory functions, and to the police in cases where they have obtained a Court order for information from us, will be for compliance with our legal obligations. In all other cases, the disclosures described in this paragraph will be for our legitimate interests in dealing with requests for information from these third parties or for the legitimate interests they have in seeking information from us to perform their own functions.
  • We may share your personal data with others (such as emergency services and law enforcement authorities) where that is necessary to protect your vital interests including to protect you from harm/help to ensure your own safety.
  • In the event that we sell any part(s) of Shelby Finance Ltd or Morses Club PLC (our parent company), we will also disclose your personal data to actual or potential purchasers of parts of its business or assets, and their respective advisers and insurers for our legitimate interest of restructuring our business in that particular way and also for the potential purchaser’s legitimate interests of:
    • enabling potential purchasers to complete due diligence on, and value, the business and/or assets;
    • transferring the personal data in connection with any relevant sale and the transfer of our contractual rights and/or obligations; and
    • the use of such personal data by a purchaser for the operation of its business.
  1. Transfers outside the European Economic Area (EEA)

We will not transfer your data out of the European Economic Area (EEA) to any country that has been deemed (by the Information Commissioner’s Office) to have inadequate data protection controls except where we make those transfers lawful under data protection law by using appropriate safeguards such as EU Model Clause contracts (you can contact us for copies or more details). We will always make sure transfers of your personal data outside the EEA by made by ourselves are in accordance with data protection law.

  1. For how long does Shelby Finance keep personal information?

If you take out a Dot Dot loan, we will retain your personal data for the period during which any balance remains outstanding and thereafter until the expiry of a period of seven years.

If you take out a U Account, we will retain your personal data for as long as the account remains open. If your account is closed or cancelled, we will keep your personal information for a period of seven years from the date it was closed.

If you apply for one of our products and your application is unsuccessful, your personal data will be held by us for up to 4 years [so that we can guard against the risk of fraud if you re-apply during that period with different details, for instance about your salary or number of years at your home address.

If you complete a customer satisfaction survey, your personal data in relation to that survey will be held by us for a period of up to 6 months from the date that you submitted the survey response.

If you raise a complaint or there is a dispute between us, your personal data will be held by us for a period of up to seven years following the resolution of the complaint or dispute.

If you raise a general enquiry with us (which does not involve a complaint or dispute), your personal data in relation to that enquiry will be held by us for a period of up to one month.

When we communicate with you by phone, your call will be recorded. This data will be kept for 6 months.

We will retain your personal data for longer than the periods specified above if required by law, to defend or exercise legal rights (such as defending legal claims) or to comply with regulatory obligations.

  1. What rights do I have to my personal data?

It is important to us that you are aware of the rights you have] under data protection legislation regarding your own information. As a result, we would like to make you aware of the rights that you have as a data subject:

Rights in relation to automated decisions making which have a legal effect or other significant effect on you. You have the right to request that a human review the automated decision.

The Right of Access. You may request access to or copies of the personal information that we hold about you (known as a “Data Subject Access Request”) as set out in the “How can I find out what personal information Shelby Finance holds about me?” section below. If you would like to exercise this right, please contact us (as set out in the “Our Contact Details” section below).

Right to Rectification.You have the right to have inaccurate information about you corrected. For more information, see the “How can I change the personal information Shelby Finance holds about me?” section below.

The Right to Erasure. You may request that your personal information be deleted where it is no longer necessary for the purposes of which it is being processed and provided there is no other lawful basis for which we may continue to process such personal information. If you would like to exercise this right, please contact us (as set out in the “Our Contact Details” section below).

The Right to Data Portability. Where you have provided us with your personal information that we process using automated means, you may be entitled to a copy of that personal information in a structured, commonly used and machine-readable format. If you would like to exercise this right, please contact us (as set out in the “Our Contact Details” section below).

The Right to Object. In some circumstances, you may, on grounds relating to your situation, object to our processing of your personal information. We will consider any objections to processing on the circumstances relating to each case. This includes, for example, the right to object to your personal information being used for direct marketing by us. If you would like to exercise this right, please contact us (as set out in the “Our Contact Details” section below).

The Right to Restrict Processing. You may also request that we restrict the processing of your personal information to that to which you have consented or for the establishment, exercise or defense of legal claims or the protection of the rights of another person:

  • whilst we verify your data as set out in “The Right to Rectification” above;
  • pending verification of our legitimate grounds for processing your personal information. This is relevant, for example, if we rely on legitimate interests, after giving you an opt-out opportunity, as our lawful reason for using your personal information for direct marketing; or
  • if the processing is unlawful or no longer necessary but you wish for us to retain your personal information for the purposes of establishing, exercising or defending legal claims.

If you would like to exercise this right, please contact us (as set out in the “Our Contact Details” section below).

You have the right to withdraw consent. This is only relevant when we rely on consent as our reason to process your personal information. If you would like to exercise this right against Shelby Finance please contact us (as set out in the “Our Contact Details” section below).

Furthermore, you can also exercise your right via the Information Commissioner, who is the supervisory authority and an independent regulator. Details Below:

Telephone: 0303 123 1113
https://ico.org.uk/make-a-complaint/

Information Commissioner's Office
Wycliffe House
Water Lane
Wilmslow
Cheshire SK9 5AF

As mentioned in Section 6 you also have the right to ask for a person to review an automated decision taken about you during the application process.

  1. How can I find out what personal information Shelby Finance holds about me?

Your right to access, as detailed above, or to obtain copies of your personal information may extend to (but is not limited to) some or all the following items below.

  • Copy of your Agreement
  • Your application details
  • Your payment history with us
  • Statement of account
  • Account notes
  • Any charges applied to your account
  • Telephone calls recorded for quality and training purposes

We will endeavor to fulfill your request within one month of receiving the request, though this timescale may be extended if your request is particularly large or complex.

A Data Subject Access Request is free, however, where a request is manifestly unfounded or excessive, we may require a reasonable administrative fee or refuse to act on the request. This will be based on the true administrative cost and will be discussed with the requester on application.

You can make a Data Subject Access Request or exercise your other rights by contacting us (as set out in the “Our Contact Details” section below).

  1. How can I change the personal information Shelby Finance holds about me?

Please tell us if your personal information, including contact details or address, change at any time so that we can update our records. If some of the information we hold about you is inaccurate (for instance because you have changed your marital status or name, moved address, or changed your telephone number or email address) or incomplete, please contact us (as set out in the “Our Contact Details” section below. We will take steps to seek to correct or update any information if we are satisfied that the information, we hold, is inaccurate or incomplete. In certain circumstances, you may also request that we restrict our processing.

  1. How can I manage how Shelby Finance contacts me for marketing purposes?

When you submit your name and contact details through our websites, or when you apply for a Dot Dot loan or a U Account, or when we write to you, this is usually when we capture your marketing preferences.

We may contact you by post, SMS, telephone or email for marketing purposes. In addition, we may place marketing messages about our own products and services in banners or pop-ups on our websites or on the U Account mobile app. You might see these after you have logged in as a customer – unless you have opted-out of our marketing.

To change your marketing preferences, you can contact us using our contact details (set out in our Contact Us page below). We will process your request within a reasonable period.

Any marketing communication by email or SMS which are from us will also include details of how you may unsubscribe.

  1. How do we protect the security of your personal information?

We are serious about guarding the security of your personal information and the details of any transactions or applications made. We keep your information confidential by using systems that store and transfer your data under strict security controls. We ensure your data is only accessed by appropriate personnel that have a justified reason to see your data. We also ensure that our systems and software are kept up to date and perform well to allow you to access your data when you need to. The systems and controls we have in place also help us protect against unauthorised or unlawful processing, accidental loss, destruction of, or damage to, your personal information.

  1. How do you obtain copies of our Privacy Notice?

If you require a printed copy of this Privacy Notice or a copy in another format such as audio or Braille, then please contact us using the contact page.

  1. Our contact details

For Dot Dot Loans, you can contact us by phone on 0333 240 6215, by email at [email protected], or by writing to us at Dot Dot Loans, Kingston House, Centre 27 Business Park, Birstall, Batley, WF17 9TD. Alternatively, you can reach us via our Data Protection Officer (contact details as per Section 1).

For U, you can email us at [email protected] or write to us at Shelby Finance, Colliers Way, Nottingham, NG8 6AT. Alternatively, you can reach us via our Data Protection Officer (contact details as per Section 1).

Last updated: 08/01/2021

Complaints

Complaints procedure

Learning from our customers is a fundamental part of U and how we strive to improve as a business.

We try to do things right 100% of the time but sometimes things can go wrong. If we fall short of your expectations, we want to hear from you so we can put it right.

Getting in Touch
  • Secure Message: Log in to your Account and click 'Contact Us' to send us a secure message.
  • Post: U Account, Shelby Finance, Colliers Way, Nottingham NG8 6AT

If you don't have access to your U Account, or you're not a U account holder, please visit www.Uaccount.Uk/contact-us.

Resolving Your Complaints

If we're unable to resolve things immediately, we'll record your concern as a formal complaint, following our internal complaints procedure. It'll be dealt with as follows:

  • We'll issue an acknowledgement within three days from the day we received the complaint (if we can't completely resolve it in that time).
  • We'll use all the information available to us to investigate and resolve your complaint. We may need to contact you for further information as part of this process.

A full and final response will be issued within 15 days from the day after we first received your complaint, setting out our understanding of your concerns and our proposed resolution.

In exceptional circumstances (such as reasons beyond our control) we may take a little longer to resolve your complaint. We'll let you know whether this is the case within 15 days following the day we received your complaint. In these situations, we'll issue a final response to you no later than 35 days from the day after we first received your complaint. 

If you're still unhappy

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

Option One: Contact Us Again

If you feel you have additional information to support your complaint, please let us know as we would welcome the opportunity to resolve things in full

Option Two: Refer the complaint to the Financial Ombudsman Service (FOS)

You may choose to refer your complaint to the Financial Ombudsman Service for an impartial review. You need to do this within six months of our final response. You can contact the Financial Ombudsman Service in any of the following ways:

Post:
Financial Ombudsman Service
Exchange Tower
London
E14 9SR

Telephone: 0800 023 4567 or 0300 123 9123

Email: [email protected]

Website: www.financial-ombudsman.org.uk

Complaints data

Financial Conduct Authority rules require us to provide a report of our complaints data every six months. The table below sets out complaints received since July 2017. Please note that U has grown rapidly over this period.

Six-month period Total complaints
1 July 2017 - 31 December 2017 244
1 January 2018 - 30 June 2018 176
1 July 2018 - 31 December 2018 204
1 January 2019 - 30 June 2019 296
1 July 2019 - 31 December 2019 232
1 January 2020 - 30 June 2020 222
Maintaining the account

Definition

The account provider operates the account for use by the customer.

Arranged overdraft

Definition

The account provider and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer.

Unarranged overdraft

Definition

The customer borrows money when there is no money left in the account (or when the customer has gone past their arranged overdraft limit) and this has not been agreed with the account provider in advance.

Refusing a payment due to lack of funds

Definition

The account provider refuses a payment from the customer’s account because there is not enough money in it.

Direct debit

Definition

The customer permits someone else (recipient) to instruct the account provider to transfer money from the customer’s account to that recipient. The account provider then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary.

Standing order

Definition

The account provider makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account.

Sending money within the UK

Definition

The account provider transfers money, on the instruction of the customer, from the customer’s account to another account in the UK.

Cash withdrawal in pounds in the UK

Definition

The customer takes cash out of the customer’s account in pounds at a cash machine in the UK.

Cash withdrawal in foreign currency outside the UK

Definition

The customer takes cash out of the customer’s account in foreign currency at a cash machine outside the UK.

Debit card payment in pounds

Definition

The customer uses their debit card to make a payment in pounds. This can be in a shop, online or over the phone.

Debit card payment in a foreign currency

Definition

The customer uses their debit card to make a payment in foreign currency. This can be in a shop, online, or over the phone.

Prepaid debit card

Definition

The customer’s prepaid contactless Visa card that is associated with their account.

Replacement card

Definition

A prepaid contactless Visa card ordered by the customer upon loss, theft, or damage of their prepaid debit card, or if their original prepaid debit card is not received.

Digital statement

Definition

A monthly statement of transactions on the customer’s account, provided as a PDF or spreadsheet and downloadable from the ‘Statements’ section once logged in.

Postal statement

Definition

A monthly statement of transactions on the customer’s account that is provided on paper and posted to the customer.

Extra Account

Definition

A sub-account within a customer’s U Account that has a unique account number and the same non-card payment facilities as the Main Account.

PayPoint

Definition

The customer pays cash into their account by visiting their local PayPoint-participating retailer and presenting their prepaid debit card.

A paper version of this document is available upon request.

Last updated: October 2020

Information about the U Account

1. Information about how to open a U Account

To open a U Account, a new customer will need to provide us with their name, address, email address, mobile phone number and date of birth. We may request additional information or documents in individual cases.

You can open a U Account:

  • Without visiting a branch: tick icon
  • By sending us documents and information electronically: tick icon
  • By post: cross icon

2. Information about account services

How and when you can contact us to ask about the following things:

Contact details 24-hour help Telephone Telephone banking Internet banking Mobile banking
Checking the balance and transactions cross icon cross icon cross icon tick icon tick icon
Sending money within the UK, including setting up a standing order cross icon cross icon cross icon tick icon tick icon
Sending money outside the UK The U Account doesn't offer this service
Paying in a cheque The U Account doesn't offer this service
Cancelling a cheque The U Account doesn't offer this service
Cash withdrawal in a foreign currency outside the UK cross icon cross icon cross icon tick icon tick icon
A lack of funds: including unarranged overdrafts, payments we allow despite lack of funds and payments we refuse due to lack of funds cross icon cross icon cross icon tick icon tick icon
A direct debit, or allowing someone to collect one or more payments from your account using your debit card number cross icon cross icon cross icon tick icon tick icon
Third party access to an account, for example under a power of attorney The U Account doesn't offer this service
Problems using internet banking or mobile banking cross icon cross icon cross icon tick icon tick icon
Reporting a suspected fraudulent incident or transaction tick icon(card block) cross icon cross icon tick icon tick icon
Progress following an account suspension or card cancellation, eg following a fraud incident cross icon cross icon cross icon tick icon tick icon
Account opening: including eligibility for an arranged overdraft, what is required to open an account and an indication of what arranged overdraft may be available cross icon cross icon cross icon tick icon cross icon
Note: this is a list of common queries. It does not represent the full list of queries you can raise in relation to your account.

How and when you can use your account to do the following things:

Contact details Telephone Telephone banking Internet banking Mobile banking
Checking the balance and transactions cross icon cross icon tick icon tick icon
Sending money within the UK, including setting up a standing order cross icon cross icon tick icon cross icon
Sending money outside the UK The U Account doesn't offer this service
Paying in a cheque The U Account doesn't offer this service
Cancelling a cheque The U Account doesn't offer this service
Note: this is a list of common actions. It does not represent the full list of actions you can raise in relation to your account.

Information about operational and security incidents

We are obliged to notify the Financial Conduct Authority if we become aware of a major operational or security incident which prevents our customers from using our payment services.

Contact details In the 3 months between 1 April 2020 and 30 June 2020 In the 12 months between 1 July 2019 and 30 June 2020
Total number of incidents reported 1 1
Incidents affecting telephone banking 0 0
Incidents affecting mobile banking 1 1
Incidents affecting internet banking 1 1

Complaints data

Financial Conduct Authority rules require us to provide them with a report of our complaints data every six months. In certain circumstances, we are also required to publish a summary of our complaints data. The most recent summary is available here. The Financial Ombudsman Service publishes its complaints data every six months. You can see their complaints data about previous card issuer, Wirecard Card Solutions, at ombudsman-complaints-data.org.uk. Please note that the July-December 2020 report from the Financial Ombudsman will cover any complaints data for both our previous card issuer, Wirecard and our current card issuer, Modulr. The complaints data recorded covers all the clients of both Wirecard and Modulr, not just U Account.

Opening a account with us

Go to our FAQs on opening an account to find out how you can open an account, and what information and documents you need to give us to open an account.

How quickly do we open accounts?

We give customers an account number and enable them to start paying into the account the same day (in cases where we don’t need any further information or documents to open the account).

How quickly do we give customers a prepaid Visa card?

Once an account is open, we give customers a prepaid Visa card within 7 days for 99% of customers.

How quickly do customers get internet banking?

Once an account is open, customers have access to internet banking immediately.

How quickly is an overdraft available?

The U Account does not offer an overdraft facility.

How quickly do we replace prepaid Visa cards which have been lost, stolen or stopped?

We replace prepaid Visa cards within 7 days for 99% of customers.