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DIGITAL BANKING WORLDWIDE

QUANT BUSINESS WALLET TERMS OF USE  /  QUANT CARD TERMS AND CONDITIONS

QUANT BUSINESS WALLET TERMS OF USE

1. General provisions

1.1.These terms of use (hereinafter: “Terms”) sets out the general rules which are requested to use the QUANT Payroll Business Account (hereinafter: “QUANT Business Wallet”).

1.2. The word “you”, depending on the context, refers to the organization which makes the QUANT prepaid Mastercard (hereinafter: “Card”) available to its holders (hereinafter: “Cardholder”) and which is authorised to load the Cards (hereinafter: “Company”).

1.3. After accepting these Terms, the agreement (hereinafter: “Agreement”) between Peak Financial Services and the Company becomes valid when the Company receives the login information required to access the QUANT Business Wallet. The Agreement terminates according to the provisions set out in section 10.

1.4. The use of the Card by the Cardholder is handled in the QUANT Card General Terms and Conditions, which you may access anytime by visiting www.quantpayment.com

1.5. The Agreement is governed by English law, however, it falls under the non-exclusive jurisdiction of the Courts of England and Wales.

1.6. The Cards are issued by DiPocket Limited (registered address: 532 Metal Box Factory, 30 Great Guildford Street, London, SE1 0HS, United Kingdom; hereinafter: “Issuer”).

1.7. The Issuer is a financial institution authorised and regulated by the Financial Conduct Authority (registered address: 25 The North Colonnade, London E14 5HS, United Kingdom), which operates on the basis of the E-Money License (firm reference number: 900439) across the European Union.

1.8. As an electronic money issuer institution, the Issuer is entitled to receive and hold customer funds and process payments upon a customer’s request. The Issuer holds customer funds in segregated accounts held with highly rated European banks, meaning customer funds are segregated from the Issuer’s own funds. However, funds entrusted by clients to the Issuer are not covered by the Financial Services Compensation Scheme.

1.9. At all times the Card remains the property of the Issuer. The Card is neither debit nor a credit card and it is not linked to your bank account. The funds on the Card will not earn any interest. The right of disposal over the balance of the Card belongs to the Cardholder.

2. Registration

2.1. Only registered legal entities can obtain a QUANT Business Wallet. As part of the registration process, we have to require evidence of who the Company is and its address, furthermore who are the beneficial owners and authorised representatives of the Company.

2.2. We are required to hold information on Cardholders. We use this information solely to administer the Cards and the QUANT Business Wallet and to help us identify the Cardholder in the event if a Cards is lost or stolen. For more information on our personal data controlling
practices, please read our Data Management Policy.

2.3. The use of the Cards and the QUANT Business Wallet will indicate to us that the Company and the Cardholders consent to the checks described in this Agreement being undertaken.

3. QUANT Business Wallet

3.1. The Company can execute payment transactions to the Cards via the QUANT Business Wallet.

3.2. The Company must always have a minimum amount available to cover the sum of transactions made with the Cards that belong to the QUANT Business Wallet. This amount is defined by the Issuer in advance and individually for the Company.

3.3. The QUANT Business Wallet may be topped-up through a bank transfer to the appropriate IBAN number. The balance will become available at the latest within 72 hours.

3.4. Funds may be loaded to the Cards via the QUANT Business Wallet or via bank transfer to the appropriate IBAN number.

3.5. The Card’s balance will become available immediately when loaded through the QUANT Business Wallet and at the latest within 72 hours when loaded through bank transfer.

3.6. The Company may not access the balance and transaction history of a Card without the consent of the Cardholder. However, via the QUANT Business Wallet, the Company may be able to see the amount of Cards requested, and the history of the loads made by the Company.

3.7. In cases where the Company may have added funds to a Card in error, we will refund the funds at the request of You and with the written consent of the Cardholder. You may claim a refund within 8 weeks of the amount being deducted from the QUANT Business Wallet. We may require you to provide us with evidence to substantiate your claim.

4. Fees and charges

The fees and charges of the Card form an integral part of this Agreement. As a result of loading your QUANT Business Wallet, you may incur additional costs (e.g. expenses introduced and charged by your bank).

5. Redemption of electronic money

5.1. You may always ask us to transfer back the sums belonging to you and held on your QUANT Business Wallet (“Funds”) to your bank account. A cash-out fee will apply for transferring the Funds.

5.2. If you request us to close the QUANT Business Wallet and remit the remaining amount, the Agreement will terminate by redeeming the electronic money.

5.3. We we may decline your redemption request, (i) if we believe you have provided false information, (ii) we are concerned about the security of a transaction, (iii) if your QUANT Business Wallet is closed or in a “deposit only” status, or (iv) if there are insufficient Funds
to cover the redeemed amount and cash-out fee.

6. Keeping your QUANT Business Wallet safe

6.1. You must keep safe at all time the details required to access the QUANT Business Wallet in a way so others cannot access them. Never communicate your login details to your QUANT Business Wallet to anyone in writing!

6.2. We will assume that all transactions on your QUANT Business Wallet Platform were initiated by you unless you notify us according to section 8.1.

7. Our liability

7.1. Within the limits permitted under the applicable laws, and subject to the limitations defined in this Agreement, we are liable for due performance of our obligations set out in this Agreement.

7.2. In so far as this is not a result of our negligence, we will not be responsible nor liable for a retailer’s failure to or delay in accepting a Card nor for an ATM failing to issue cash. In these circumstances, we will not be liable for the way in which the Cardholders are told about any refusal or delay.

7.3. The Cardholder may not be able to use a Card to make any purchases from some retailers; such retailers have been blocked by our systems in order to prevent the potential use of cards for unauthorised or unlawful activity.

7.4. We shall not be liable and you cannot claim a loss or damage from us if

a) You are claiming for losses that are a consequence of our compliance with any national or European Union law or other obligation (e.g. Mastercard rules);

b) You are claiming for losses related to the goods or services purchased with a Card;

c) you are claiming for loss of business, loss of goodwill, loss of opportunity or loss of profit;

d) you have acted fraudulently or with negligence, including cases where the Company may have added funds to a Card in error;

e) you are in breach of the Agreement, or provided us with any incorrect information if there is a clear causal link with the damage;

f) our failure was due to abnormal and unforeseeable circumstances outside our control, which meant we couldn’t follow our obligations under the Agreement despite our best efforts to do so, for example, a hardware breakdown, strike, or a major problem with a payment system; or

g) any unforeseen amount is unilaterally charged by Mastercard or the Issuer.

7.5. None of the exceptions set out it section 7.4. will apply, and nothing else in the Agreement will stop us being liable, if:

a) we act fraudulently,

b) we act with gross negligence, or

c) we are at fault and the law does not allow us to exclude or limit liability. In these cases, our liability will be limited to repayment of the amount of any available funds on the Cards that belong to your QUANT Business Wallet.

7.6. The owner of the QUANT Business Wallet should take care of its lawful and purposeful usage. The owner of the QUANT Business Wallet shall be unlimitedly liable for any damages related to the non-lawful and purposeful usage of the QUANT Business Wallet, except where laws impose such a limit.

7.7. In the unlikely event that the Issuer becomes insolvent, any funds transferred but not loaded from the QUANT Business Wallet to the Cards may be lost. By accepting this Agreement you understand and accept this risk.

8. If something goes wrong

8.1. If you lose the login details of your QUANT Business Wallet, or if you believe you did not authorise a particular transaction or that a transaction was incorrectly carried out, please contact our Customer Services immediately but not later than 8 weeks of the suspicious transaction. Following satisfactory completion of the verification process, we will immediately provide you with new login details to prevent unauthorised use. Certain fees may apply for generating new login details.

8.2. We will refund any unauthorised or incorrectly executed transaction immediately unless We have reasonable grounds to believe that the incident may have been caused by a breach of the Agreement. We shall not be held liable for a transaction that has been incorrectly executed if you have failed to notify us of a problem within the deadline. In those circumstances, you may be held liable for all expenses.

8.3. If Our investigations show that any disputed transaction was authorised by you or you may have acted fraudulently or with gross negligence, we may reverse any refund made and you will be liable for costs of the investigation carried out by us in relation to the transaction.

8.4. We may refuse to complete a transaction that you have initiated, if

a) We are concerned about the security of your QUANT Business Wallet or we suspect that the Card to be topped up is being used in a fraudulent manner;

b) there are not sufficient funds available on the QUANT Business Wallet to cover the transaction and all associated fees at the time we receive notification of the transaction;

c) there is Shortfall in the balance of your QUANT Business Wallet;

d) You are acting in breach of this Agreement.

8.5. Where we refuse to complete a load for you, we will notify you as soon as possible on the reasons why it has been refused, together where relevant, with the procedure for correcting any factual errors that led to the refusal. We may charge you each time we notify you that your load request has been refused.

9. Changes to the Agreement

9.1. Provided we give you a notice in advance, we can change any part of the Agreement, only to the extent necessary, if at least one of the below material circumstances occurs:

a) a change of our legal obligations not provided for in the legislation at the date of conclusion of the Agreement;

b) fees or taxes or other costs are imposed, that were not provided for in the legislation at the date of conclusion of the Agreement;

c) a change in the legal provisions governing the financial sector or a change of recommendations or good practices by supervising institutions or of provisions connected with the financial sector, which impact the mutual rights and obligations of the parties to the Agreement that were not in force at the date of conclusion of the Agreement;

d) the introduction of new services or removal or change of features of the existing services as well as introduction or change of the trade name of such services (in the case of a change of the scope or manner of providing the services consisting in changing the features of the existing services or the introduction of new products, the user will not be obliged to use such services and incur the costs on such account unless the user submits a separate declaration of will in this respect).

9.2. If you are not happy with the change, you can let us know within 14 days of our communication about changing the Agreement that you are not happy with the change and would like to cancel your QUANT Business Wallet and terminate the Agreement. In this case, the Agreement will terminate on the day before the date on which the changes take effect.

9.3. If you do not end the Agreement by taking the steps above, you will be deemed to have accepted the changes.

9.4. We may assign the benefit and burden of this Agreement to another person at any time by giving you 2 months’ notice of this. If we do this, the rights of the Company must not be affected.

10. Terminating the Agreement

10.1. If you wish to, you cancel your QUANT Business Wallet at any time. You must nominate a bank account to which any Funds should be transferred. If you ask us to transfer your remaining, a transfer fee may be applicable.

10.2. A transferred cash-out will automatically result in the closure of the QUANT Business Wallet and the termination of this Agreement.

10.3. We may restrict or suspend the usage of the QUANT Business Wallet or the Cards or terminate the Agreement immediately if we have reasonable grounds to think that you

a) violate the provisions of the Terms;

b) fail to pay fees or charges that you have incurred or fail to put right any shortfall in the balance of your QUANT Business Wallet;

c) put us in a position where we might break a law, regulation, or other duty that applies to us if we maintain your QUANT Business Wallet or the Cards belonging to it;

d) give us any false information at any time;

e) commit (or attempt) fraud against us or someone else;

f) use (or allow someone else to use) your QUANT Business Wallet illegally or for criminal activity (including receiving proceeds of crime on your Card); or

g) we reasonably believe that maintaining your QUANT Business Wallet might expose us or the Issuer to action or censure from any government, regulator or law enforcement agency.

10.4. We will notify you on restrictions, suspensions or the termination of the Agreement and, if applicable, call you to decide in writing where the remaining Funds should be transferred. You must nominate a bank account to which any Funds should be transferred. If you ask us to transfer your remaining, a transfer fee may be applicable. If the Agreement terminates, the Cards will continue to work until their expiry date.

11. Customer support

11.1. Contact our customer services team by:

– Phone +36 1 7333 111 to report lost and stolen cards, to activate your Cards and to receive a PINs and to ask for card balances.

– For additional information about the use of the Cards, or if You have any enquiries or questions regarding Your Card, please send email to hello@quantpayment.com

11.2. We strive to acknowledge all complaints received within 24 hours of receipt. If a complaint is received during a bank holiday or weekend period, the complaint will be acknowledged within 24 hours of the return to work of staff, i.e., if a complaint is received by e-mail on a Sunday, it will be deemed to have been received at 9 am on the following Monday.

11.3. If it is not possible to respond with a detailed, substantive reply within 24 hours of receipt of the complaint, a further communication will be provided within 5 business days. We will send our final response within 15 business days. In unusual circumstances, where the answer cannot be given within the normal timeframe for reasons beyond our control, we will explain the reasons for the delay and provide a final response no later than 35 business days.

11.4. If having exhausted Our complaints procedure, you remain unhappy with how we handled your issue, you may complain to the Financial Services Commission, PO Box 940, Suite 3, Ground Floor, Atlantic Suites, Europort Avenue, Gibraltar. Tel +350 200 40283, Fax +350 200 40282, e-mail psdcomplaints@fsc.gi, web address at www.fsc.gi.

12. Data controlling

Our Data Management Policy contains how we handle the personal data provided to us by you.

QUANT CARD TERMS AND CONDITIONS

1. General provisions

1.1. These general terms and conditions (hereinafter: “Terms”) apply to any holder (hereinafter: “Cardholder”) of a Quant Card prepaid MasterCard® (hereinafter: “Card”). The Terms, together with the Card terms and conditions (hereinafter: “Card Terms”) you have received with your Card, form the agreement (hereinafter: “Agreement”). In any case of any contradiction between the Terms and the Card Terms, the provisions of the Card Terms shall prevail.

1.2. The word “you”, depending on the context, refers to the Cardholder.

1.3. By using your Card, you are demonstrating your agreement to these Terms and the Card Terms, and the Agreement becomes valid.

1.4. You will only be able to exercise your rights if you have possession of the Card.

1.5. The Agreement is governed by English law, however it falls under the non-exclusive jurisdiction of the Courts of England and Wales.

1.6. You may access the Terms at any time by visiting quantnetbank.com.

1.7. The Cards are issued by DiPocket Limited (registered address: 532 Metal Box Factory, 30 Great Guildford Street, London, SE1 0HS, United Kingdom; hereinafter: “Issuer”).

1.8. The Issuer is a financial institution authorized and regulated by the Financial Conduct Authority (registered address: 25 The North Colonnade, London E14 5HS, United Kingdom), which operates on the basis of the E-Money License (firm reference number: 900439) across the European Union.

1.9. As an E-Money Institution the Issuer can receive and hold customer funds and process payments upon a customer’s request. The Issuer holds customer funds in segregated accounts held at highly rated European banks, meaning customer funds are segregated from the Issuer’s own funds. However, funds entrusted by clients to the Issuer are not covered by the Financial Services Compensation Scheme.

1.10. At all times the Card remains the property of the Issuer. The Card is neither debit nor a credit card and it is not linked to your bank account. The funds on the Card will not earn any interest. The right of disposal over the balance of the Card belongs to the Cardholder.

2. Registration as a customer

2.1. To register as a customer, you must have your residential address within the European Union.

2.2. By setting up the personalised security features defined below and using the Card, you confirm your intent to register as a customer and your agreement with the terms of the Agreement.

2.3. If we must check your identity by law prior to registering you as a customer, we do this based on the information you provide to us during the registration process.

2.4. If we are unable to confirm your identity and/or any relevant registration information based on the information provided, we are entitled to ask for any further evidence of your identity, including but not limited to scans of identification documents and proof of address, and/or carry out such further checks as it deems necessary to establish your identity. If we are unable to do this, we may refuse to enable the extra functionality reserved to registered customers and/or inform the appropriate authorities without your knowledge or consent.

2.5. If you give us false or inaccurate information and/or we detect fraud, we will record this and report to fraud prevention agencies. We may also block or cancel your Card and terminate the Agreement.

3. Activating the Card

Before activation, the Card cannot be used for any transactions. When you receive your Card, for security reasons, it will be issued to you in an inactive state. You will need to activate your Card by calling +36 1 733 3111 and following the instructions of the automated voice. At the end of the call you will receive your PIN via SMS.

4. Topping up the Card

4.1. If you register as a customer, subject to eligibility for the Card type you hold we offer several options to top-up your Card, which may include transfers from cards issued by other banks, bank transfers in selected currencies and cash deposits in selected locations.

4.2. The electronic money associated with the Card is issued by the Issuer. In all cases funds will be credited to your Card in the amount equal to the amount transferred/deposited, net of applicable fees. Your bank may charge additional fees in connection with loading your Card.

4.3. We will credit your transfers (i) from another Card executed via our systems instantly, and (ii) incoming bank transfers and cash deposits as soon as we received them, but not later than 2 business days.

5. Redemption of electronic money

You may ask us anytime to transfer back the sums belonging to you and held on your Card (the “Funds”). The Funds will be transferred to the bank account indicated by you on the same working day. A cash-out fee will apply for transferring Funds.

6. Using the Card

6.1. Card may only be used by the person to whom the Card was issued. The Cards are non-transferable, and you are not permitted to allow any other person to use the Card, and you are not allowed to disclose the Card security information for executing a transaction. Prior to use, the Card should be signed on the signature strip located on the back of the Card.

6.2. You can use your Card at all locations that display the MasterCard® acceptance mark – in accordance with the usage rules of the country in which you are using the Card, or online, within the limits (per transaction, daily, monthly, annual) applicable to your Card for that type of usage. If you do not use the Card for at least 90 days, you will be charged a monthly inactivity fee.

6.3. Certain types of Card may however be limited in their functionality and acceptance – for instance they may not have contactless functionality, may be only usable in the country of issue or may not be enabled for cash withdrawals.

At the moment the Cards cannot be used at merchants assigned by the following Marchant Category Codes (MCC):

4829 – Money Transfer
4829 – Wires, Money Orders
6051 – Money Orders

6.4. All transactions require authorisation. Authorisation is also your instruction for us to carry out a transaction. In general, we will not authorise a transaction if the balance on your Card is insufficient to cover the transaction and any related transaction fee. If, for any reason whatsoever, you are able to make a transaction when there are insufficient funds on your Card (hereinafter: “Shortfall”), we will seek reimbursement of the Shortfall from you immediately. We may restrict or suspend your Card until the reimbursement of the Shortfall.

6.5. We assume that the Card transaction was authorised by you in the following cases:

a) For a contactless transaction:

i. below the limit applicable in the country where you are using the Card (hereinafter: “Contactless Limit”), a transaction is deemed authorized upon transmission of the details of the Card that are required to execute the transaction, by placing the Card in the proximity of the device that allows for reading the data saved in the Card contactless module; and

ii. In excess of the Contactless Limit, the transaction is deemed authorized by entry of the PIN number to the acceptance terminal. Please note that in certain places contactless transactions with PIN are not available, and you may have to insert the Card in the payment device to authorize it with the PIN.

b) For other transactions:

i. the magnetic strip on the Card was swiped by the retailer or the Card was inserted into a chip & PIN device; or

ii. the Card PIN was entered; or

iii. the relevant information was supplied by you, for example providing the retailer with the 3-digit security code on the back of your Card in the case of online purchases.

7. Outgoing transfers

7.1. You have the option to transfer the Funds to a bank account or – depending on the due diligence level of your Card – to another Card. In this case you must nominate a bank account or Card to which any Funds should be transferred.

7.2. If you instruct us to make a transfer from your Card to another Card, the requested amount will be debited from your Card and credited to the Card or bank account you have instructed us to transfer your available Funds or part of your available Funds to. You will incur a fee for this transaction. Please refer to the Tariffs Table. A transfer can only be made if the fee of the transaction is deductable from the available balance of the Card, if the transaction is considered secure and the technical conditions are provided.

7.3. If you ask us to transfer Funds in a currency other than the Card currency, a foreign currency exchange fee will be applicable.

8. Fees and foreign currency exchange rates

8.1. The fees associated with this Card form an integral part of the Terms.

8.2. You can find the Tariff Table which contains our fees by visiting quantnetbank.com.

8.3. Additional charges and costs may imposed by the Issuer or MasterCard® unilaterally and in an unforeseeable manner.

8.4. All payments made by using your Card will be cleared in the currency of the Card.

8.5. If you make a payment with your Card in a currency different from the currency of the Card, the amounts will be converted by MasterCard® on the date they process the transaction, using the exchange rate they use for all such currency conversions. This means the exchange rate may differ from the rate on the date you made the payment, if the payment is processed by MasterCard® after that date. The foreign exchange rate used by MasterCard® can be found on https://www.mastercard.co.uk/en-gb/consumers/get-support/convert-currency.html. We also charge a fee based on the payment amount, as shown in the Tariff Table.

8.6. Card terminals may offer you the option of seeing the payment amount or withdrawal in the currency of your Card or in a currency other than the cash withdrawal or purchase currency, and allow you to choose to pay that amount in that currency. The exchange rate used for this will generally be provided by the operator of the terminal or ATM, so it won’t be under our control and won’t be covered by our Tariff Table. Please check at the ATM, the terminal or with the respective operator the exchange rate before authorizing the transaction.

9. Balance and statements

9.1. Please make sure that you have sufficient available balance on your Card to pay for each purchase or cash withdrawal with the applicable transaction fees before using the Card.

9.2. You may check the balance available on your Card on quantpayment.com or in the Quant Wallet application. Additional options to check your Card balance and transaction history may be available to you depending on your Card type.

9.3. Upon your request we will provide you with additional statements and/or transaction records.

10. Keeping your Card safe and fraud prevention

10.1. You must keep safe at all time your Card details – including PAN (the 16 digits number embossed on the front of the Card), expiry date, CVC (the 3 digits number, displayed on the back of the Card), PIN (Personal Identification Number), and any passwords and devices you use to access security details of the Card by any method (together the “Personalised Security Features”) – in a way so others cannot have access to them. This also includes any Card details in electronic wallets, on retailer’s websites or on devices such as mobile phones. If you have registered a Card on a device or within an e-wallet this will include passwords and security processes used to access your device or e-wallet (device ID, passcodes or passwords) and any fingerprints or other biometric or identification methods stored in your device. Please note that not all Personalized Security Features may be applicable to your Card.

10.2. We will never contact you to request any of your Personalised Security Features and we will not ask anyone else to do so on our behalf. If you receive such a request it is likely to be fraudulent and you must not supply any of your Personalised Security Features in any circumstances. You should report any such activity to us immediately. Treat e-mails received from senders claiming to be us with caution and be wary of emails asking you for any Personalised Security Features.

10.3. When you call us, we may need to identify you, depending on the nature of your query. We may do this by asking for certain information (such as answers to questions) known only to you and requesting random digits of certain passcodes or passwords, but we would never ask you for a full PIN or passcode. You must not give these to anyone who asks for them.

10.4. You are responsible for the quality, safety, legality or any other aspect of any goods or services that you buy with your Card. Any disputes about purchases or payments made with the Card must be settled with the goods or service provider concerned.

10.5. We may block or restrict your Card or PIN on justified grounds relating to the following reasons:
a) the security of your Card, card number or PIN;
b) the suspected unauthorised or fraudulent use of your Card or PIN. We will, if possible, inform you before blocking, or restricting your 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;
c) situations where it is not possible for the supplier to obtain online authorisation to confirm that you have sufficient balance for the transaction. For example: transactions on certain trains, ships, and some in-flight purchases, and
d) purchaes at service stations when the merchant verifies your PIN with us without providing the final amount of your purchase.

10.6. When we suspect there may be an attempt to use your Card fraudulently, we may ask you to confirm a transaction prior to or after authorising it. Authorisation for a transaction may not be withdrawn or revoked by you.

10.7. If you become aware of the loss, theft or misappropriation of your Card or of its unauthorized use, call us straight away on +36 1 7333 111.

11. Chargebacks

You may demand from us the return of the amount of an authorized transaction initiated by or via the recipient within 8 weeks from the date of the transaction, if such transaction was already executed while:

a) the amount of the transaction was not determined precisely when it was being authorized; and

b) the amount of the transaction is higher than the amount you could expect, taking account of the type and value of previous transactions, provisions of the Agreement and any significant circumstances of the case.

12. Our liability towards You

12.1. Within the limits permitted under the applicable laws, and subject to the limitations defined in this Agreement, we are liable for due performance of our obligations set out in this Agreement.

12.2. In so far as this is not a result of our negligence, we will not be responsible nor liable for a retailer’s failure to or delay in accepting your Card nor for an ATM failing to issue cash. In these circumstances, we will not be liable for the way in which you are told about any refusal or delay.

12.3. Where a retailer provides a refund for any reason (for example, if you return the goods as faulty) it can take several days for the notification of the refund and the money itself to reach us. As such, please allow 5-10 days from the date the refund was carried out for the refund to be applied to your Card.

12.4. You will not be able to use your Card to make any purchases from some retailers; such retailers have been blocked by our systems in order to prevent the potential use of cards for unauthorized or unlawful activity.

12.5. In so far as this is not a result of our negligence, we are not obligated to authorise a transaction where a system problem occurs or events outside our reasonable control arise. In addition to that we are not obligated to authorise a transaction where we are concerned about misuse of your Card. We shall not be liable to you when a transaction is not authorised in these circumstances and/or if we cancel or suspend use of your Card.

12.6. In so far as this is not a result of our negligence, we shall not be liable for any direct or indirect loss or damage you may suffer as a result of your use of, or inability to use, your Card, or as a result of the use of your Card by any third party.

12.7. You cannot claim a loss or damage from us if:

a) you are claiming for loss of business, loss of goodwill, loss of opportunity or loss of profit;

b) you have acted fraudulently or with gross negligence;

c) you are in breach of the Agreement, or provided the Issuer with any incorrect information if there is a clear causal link with the damage;

or

d) our failure was due to abnormal and unforeseeable circumstances outside our control, which meant we couldn’t follow our obligations under the Agreement despite our best efforts to do so, for example, a hardware breakdown, strike, or a major problem with a payment system.

12.8. None of the exceptions set out in section 12.7. will apply, and nothing else in the Agreement will stop us being liable, if:

a) we act fraudulently,

b) we act with gross negligence, or

c) we are at fault and the law does not allow us to exclude or limit liability.

13. If something goes wrong

13.1. If you lose your Card or it is stolen or damaged, or if you believe you did not authorise a particular transaction or that a transaction was incorrectly carried out, please contact our Customer Services immediately but not later than 8 weeks of the amount being deducted from the Card. Following satisfactory completion of the verification process, we will immediately block the Card to prevent its further use. Depending on the circumstances, we may require you to complete a dispute declaration form.

13.2. We will refund any unauthorised or incorrectly executed transaction immediately unless We have reasonable grounds to believe that the incident may have been caused by a breach of the Agreement. We shall not be held liable for a transaction that has been incorrectly executed if you have failed to notify us of a problem within the deadline. In those circumstances, you may be held liable for all expenses.

13.3. If Our investigations show that any disputed transaction was authorised by you or you may have acted fraudulently or with gross negligence, we may reverse any refund made and you will be liable for costs of the investigation carried out by us in relation to the transaction.

13.4. If your Card is used without your permission, or is lost, stolen or if you think the Card may have been misused, we may disclose to law enforcement agencies any information which we reasonably believe may be relevant.

13.5. In certain circumstances, a transaction will be initiated but not fully completed. This may result in the value of the transaction being deducted from the Card balance and therefore unavailable for use. In these cases, please contact our Customer Services team and present relevant evidence to show that the transaction has been cancelled or reversed.

13.6. We may refuse to complete a transaction that you have authorized, if:

a) We are concerned about the security of your Card or we suspect your Card is being used in a fraudulent or suspicious manner;

b) there are not sufficient balance to cover the transaction and all associated fees at the time that we receive notification of the transaction;

c) there is Shortfall on the balance of your Card;

d) we have reasonable grounds to believe you are acting in breach of this Agreement; or

e) there are errors, failures (mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing transactions.

13.7. We may charge you each time we notify you that your payment request has been refused.

14. Changes to the Agreement

14.1. Provided we give you notice in advance, we can change any part of the Agreement, only to the extent necessary, if at least one of the below material circumstances occurs:

a) a change of our commitment to the creation of reserves or the enactment of allowances not provided for in the legislation at the date of conclusion of the Agreement;

b) fees or taxes or other costs are imposed, that were not provided for in the legislation at the date of conclusion of the Agreement;

c) a change in the legal provisions governing the financial sector or a change of recommendations or good practices by supervising institutions or of provisions connected with the financial sector, which impact the mutual rights and obligations of the parties to the Agreement that were not in force at the date of conclusion of the Agreement;

d) the introduction of new services or removal or change of features of the existing services as well as introduction or change of the trade name of such services (in the case of a change of the scope or manner of providing the services consisting in changing the features of the existing services or the introduction of new products, the user will not be obliged to use such services and incur the costs on such account unless the user submits a separate declaration of will in this respect).

14.2. If you are not happy with the change, you can let us know that you are not happy with the change and would like to cancel your Card and end the Agreement without any charges, so that the Agreement will cease on the day before the date on which the changes take effect.

14.3. If you do not end the Agreement by taking the steps above, you will be deemed to have accepted the changes after the end of the one months’ notice.

15. Termination of the Agreement, cancellation of the Card

15.1. The Agreement expires on the Card expiry date, unless we issue a new Card for you on your request or upon discrecionary basis, if there are Funds remaining on your Card on the expiry date. If you have been issued with a replacement Card at the expiry date of your Card, any available Funds will be transferred to the replacement Card after deducting the applicable fees.

15.2. The Agreement can be terminated at any time by you, or by us in accordance with the processes set out below.

15.3. If you wish to, you cancel your Card at any time. In addition, as a consumer, you have a period of 30 days from the date you have concluded the Agreement to tell us that you would like to withdraw from it, without giving any reason, and without incurring any charges or fees other than for the services commenced upon your request or services already provided. If you withdraw from the Agreement, the Agreement is considered not concluded, and all your Funds will be returned to you within 10 days from such withdrawal. You must nominate a bank account to which any Funds should be transferred. If you ask us to transfer Funds in a currency other than the Card currency, a conversion fee may be applicable on top of the applicable cash-out fee.

15.4. We may end the Agreement immediately (and cancel your Card) if we have reasonable grounds for thinking that you have done any of the following things, which you must not do:

a) you violate the provisions of the Terms;

b) you put us in a position where we might break a law, regulation, or other duty that applies to us if we maintain your Card;

c) you give us any false information at any time;

d) you commit (or attempt) fraud against us or someone else;

e) you use (or allow someone else to use) your Card illegally or for criminal activity (including receiving proceeds of crime on your Card);

f) you inappropriately let someone else use your Card.

15.5. We can also end the Agreement immediately and cancel your Card if:

a) we reasonably believe that maintaining your Card might expose us to action or censure from any government, regulator or law enforcement agency;

b) we find out that you are no longer eligible for it (for example, through residence status). We will try to tell you in advance if this happens, but if by continuing to offer you the Card we would break any rules or laws, we would have to cancel it or block it immediately.

15.6. We will notify you on the termination of the Agreement or the cancellation of you Card according to our possibilities and call you to decide where to transfer the remaining Funds.

16. Customer support

– Phone +36 1 7333 111 to report lost and stolen cards, to activate your Cards and to receive a PINs and to ask for card balances.

– E-mail: For additional information about the use of the Cards, or if You have any enquiries or questions regarding Your Card, please send email to hello@quantpayment.com.

17. Complaints

17.1. We strive to acknowledge all complaints received within 24 hours of receipt. If a complaint is received during a bank holiday or weekend period, the complaint will be acknowledged within 24 hours of the return to work of staff, i.e., if a complaint is received by e-mail on a Sunday, it will be deemed to have been received at 9 am on the following Monday.

17.2. If it is not possible to respond with a detailed, substantive reply within 24 hours of receipt of the complaint, a further communication will be provided within 5 business days. We will send our final response within 15 business days. In unusual circumstances, where the answer cannot be given within the normal timeframe for reasons beyond our control, we will explain the reasons for the delay and provide a final response no later than 35 business days and tell you that you may be able to refer your complaint to the Financial Ombudsman Service.

17.3. The Financial Ombudsman Service is a free, independent service, which might be able to settle a complaint between you and us. You can take your complaint to them if you are not satisfied with our efforts to deal with it or if we have not completed our investigations within six months of your complaint. The contact details are: The Financial Ombudsman Service, Exchange Tower, London E14 9SR; phone 0800 023 4 567 (+44 20 7964 0500 from abroad), website www.financialombudsman.org.uk.

17.4. Please note that you may also be entitled to submit a complaint to the Financial Ombudsman or Regulator in the country where you obtained the Card.

 

QUANT Digital Limited
One George's Quay Plaza, Dublin 2, Dublin City Centre, 
D02 E440, Ireland • Company No. 599168


+353 1 905 32 14
hello@quantpayment.com
www.quantpayment.com

QUANT Digital Limited
One George's Quay Plaza, Dublin 2,
Dublin City Centre, D02 E440, Ireland
Company No. 599168

+353 1 905 32 14
hello@quantpayment.com
www.quantpayment.com

QUANT Digital Limited is a strategical partner of Peak Card Services Limited, a registered distributor of DiPocket Limited (Suite 532, Metal Box Factory, 30 Great Guildford Street, London, SE1 0HS, UK) which is an Electronic Money Institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (900010) for the issuing of electronic money and payment instruments.

The QUANT contactless prepaid debit card is issued by DiPocket Limited pursuant to a license by Mastercard International for the European Economic Area. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Copyright © 2019 QUANT Digital Limited. All rights reserved.

Copyright © 2019 QUANT Digital Limited.
All rights reserved.