Travel Cash Service Agreement v6

Updated 22/02/2023



CONTENTS



These terms



Definition



Information about us and how to contact us



Opening an Account



Duration of Account



Benefits of an Account



Orders for Currency



Payment for Orders



Restricted Currencies



Delivery



Your rights to Cancel your Account



How to cancel your Account (including if you have changed your mind)



Our rights to cancel your Account



Anti Money Laundering



Our responsibility for loss or damage suffered by you



Other important terms



Our terms



THESE TERMS



1.1 What these terms cover. These are the terms and conditions that govern your Account with Travel Money Club and the benefits available to you as a result of your Account.



1.2 Why you should read them. Please read these terms carefully before you submit your application for an Account with Travel Money Club. These terms tell you who we are, how we will provide products (whether these are goods or services) to you, how you and we may change or cancel your Account, what to do if there is a problem and other important information. If you think that there is a mistake in these terms, please contact us to discuss.



DEFINITIONS



The following defined terms are used in these Terms and Conditions:



Account Cycle: the period of 12 months commencing from the Activation Date or from any Renewal Date.



Account Holder: the end user applying for and using an Account to access the Services.



Activation Date: the date on which you become an Account Holder in accordance with these Terms and Conditions.



App: the mobile application made available to Account holders through which Orders can be made.



Business Day: 9.00 am to 5.00pm Monday to Friday, save for any public bank holidays in England and Wales.



Currency: foreign currency bank notes offered on the Site.



Distributor: our third-party Distributor from time to time, with whom the Account Holder will agree to enter into a contract when placing an order for currency.



Distributor's Terms: the Distributor's terms and conditions of sale in force at the time an Order is accepted.



MAOV: the maximum annual order value set out in any Package, being the aggregate maximum value of currency orders that may be made by any Account Holder during an Account Cycle.



MIOV: the maximum individual order value set out in any Package, being the maximum value of currency that may ordered in any one Order.



Order: an order for Currency made in accordance with these Terms and the Distributor's Terms.



Package: the package of benefits selected by you when making your application for an Account, or notified to you on or prior to any Renewal Date.



Permitted Address: any address within the UK and listed within the Royal Mail Postcode Address File.



Renewal Date: the first anniversary of the Activation Date, and each subsequent anniversary.



Renewal Notice: the notice we send to you in advance of any Renewal Date, notifying you of any change in the Package for the Account Cycle that will commence on the next Renewal Date.



Site: the website at website or the mobile application published on the Google Play Store or Apple App Store.



INFORMATION ABOUT US AND HOW TO CONTACT US



3.1 Who we are. We are Spendology Ltd (TMC) a company registered in England and Wales. Our company registration number is 10059951 and our registered office is at 10 Fitzroy Square, London W1T 5HP.



3.2 How to contact us. You can contact us online by using the "chat badge" prominently displayed on the Site, or by writing to us at help@travelmoneyclub.co.uk, or by post care of Spendology Limited, New Beacon Building, Stafford Enterprise Park, Weston Road, Stafford ST18 0BF.



3.3 How we may contact you. If we have to contact you, we will do so by telephone or by writing to you at the email address or postal address you provided to us in your application for an Account.



3.4 "Writing" includes emails and in-app conversations. When we use the words "writing" or "written" in these terms, this includes emails and in-app conversations.



BECOMING AN ACCOUNT HOLDER



4.1 How we will accept your application for an Account (Application). Our acceptance of your Application will take place when we email you to accept it, at which point a contract for an Account will come into existence between you and us.



4.2 We may choose to accept or reject your Application at our absolute discretion. We are unable to accept applications from anyone with an entry on the CIFAS fraud register, the Bank of England (BOE) sanctions list, the Home Office Politically Exposed Persons (PEP) list, or the HALO or Mortascreen deceased register.



4.3 We require Account Holders to have a permanent residential address in the UK with public records that verify your residence, including but not limited to the Electoral Roll, to the standards defined by the Joint Money Laundering Steering Group (JMLSG).



4.4 If we cannot, or choose not to, accept your Application. If we are unable to accept your Application, we will inform you of this. We might reject an Application because of unexpected limits on our resources which we could not reasonably plan for, or because we have been unable to verify your age, identity or address.



4.5 We only deliver to the UK [excluding the Channel Islands]. Our service is solely for the delivery of currency to any Permitted Address. Unfortunately, we do not accept orders from addresses outside the UK.



4.6 What we do with your personal details. We will securely store in electronic form all personal data you submit to us in your application for a period of 12 months from the Activation Date or each Renewal Date, regardless of whether you enter into an Account or if you cancel (where permitted) before the next Renewal Date, for the purposes of fraud prevention. Should we ask you for identification under clause 14, we will only store that information and the detailed results provided by our identity services agent on our servers for a period of up to 72 hours, to assist us with fraud prevention.



DURATION OF ACCOUNT



5.1 There is no minimum term for any Account, however your Account will normally last 12 months (an Account Cycle) from the Activation Date and may be renewed for a further 12 months under the Terms then in force.



5.2 Renewal Notice. At least one calendar month before each Renewal Date, we will send you by email a Renewal Notice reminding you that your Account is due to renew, and to notify you of any changes to your Package. We will also explain how to cancel your Account if you do not wish to renew.



5.3 Automatic Renewal. Accounts will automatically renew (subject to such changes in Packages as are notified to you in the Renewal Notice) for a further term of 12 months on each Renewal Date unless you use the "Cancel" option in the account management section of the Site prior to the Renewal Date.



5.4 Change of Account Package. If the benefits available in your Package have changed during a Account Cycle, the revised Package will be notified to you in advance of the Renewal Date, and will apply when the Account renews on the Renewal Date.



BENEFITS OF AN ACCOUNT



6.1 As an Account Holder, you are entitled (subject to the remainder of these Terms, and to the Distributor's Terms) for the duration of the current Account Cycle to the benefits outlined in your Package.



ORDERS FOR CURRENCY



7.1 We act as agent for our Distributor. Orders for Currency shall be made through our Site, with us acting as agent, but the contract for the supply of Currency will be entered into between you and the Distributor, and the Order will be fulfilled by the Distributor in accordance with the terms and conditions for the supply in force at the time the Order is accepted (the "Distributor's Terms"). The Distributor has the right to change its terms and conditions at any time, and the terms on which Currency is provided will ultimately depend on the Distributor's Terms in force and notified to you at the time the Order is accepted.



7.2 Sharing your details with our Distributor. Please note, that full details of your Order, including your payment details; your email address and telephone numbers will be passed on to our Distributor so that they can fulfil your Order. In the event of our Distributor notifying us of suspicious activity on your account, we may also provide them with a copy of the details collected under clause 14 and the response provided by our chosen identity services agent (for a period of up to 6 years from the end of your last Account Cycle) solely for the purposes of conducting an investigation into the suspicious activity, following which they may store the information necessary for the purpose of fraud prevention for a further period of up to 6 years.



7.3 Account Holders may place an order ("Order") for Currency through the Site, subject to the monetary and frequency limits set out in their Package, and in the Distributor's Terms. No Account Holder may make an Order that would cause either his MAOV or his MIOV to be exceeded, and no Account Holder may make an Order outside the Distributor's minimum and maximum order values as set out in the Distributor's Terms.



7.4 Subject to approval by the Distributor, you can apply for an increase in the current value of the MAOV using the process we publish on our website. We may ask you for further information and identification (such as proof of your residential address/driver's licence details/ passport details) and details relating to your source of funds and/or use of funds. Any increase in MAOV is at the absolute discretion of the Distributor and no right to appeal is available.



7.5 Where any agreed refunds of currency are made, the amount of MAOV that has been used during the relevant Account Cycle shall be adjusted to reflect the amount refunded.



7.6 To place an Order, you should enter your Currency requirements into the currency converter on the Site and follow the instructions on the screen. You are responsible for entering correct information and we will not be responsible for any losses that you may suffer as a result of your error. You may correct errors up to the point that you confirm acceptance of the Distributor’s Terms and confirm the Order.



7.7 All orders are to be paid for by such means as available under our Distributor's Terms from time to time. Depending on the means of payment used, charges may apply. You will be informed of these charges, and any other charges applying to your Order at the time of your Order. We and our Distributor reserve the right to withdraw or decline any payment method at any time without notice.



7.8 Acceptance of your Order will be subject to our Distributor receiving full payment in cleared funds.



7.9 Your Order constitutes an offer to purchase Currency subject to our Distributor's Terms. The Confirmation constitutes acceptance by our Distributor of your Order and the formation of a contract between you and our Distributor. Where there is a conflict between our terms and the Distributor's Terms, the Distributor's Terms shall prevail.



7.10 All Orders are subject to the availability of the requested Currency and/or any limits or restrictions imposed by us or our Distributor or by regulation or law from time to time.



7.11 You should check your Order thoroughly before confirming it. You may not cancel or make changes to an Order once it is accepted unless expressly agreed by us and our Distributor.



7.12 Orders may be placed at any time but will be processed during the hours of 9am to 5pm Mondays to Fridays, excluding public holidays in England. Any Order placed outside of those times will be processed on the following day.



7.13 You acknowledge and agree that we and/or our Distributor may delay, refuse or cancel an Order at any time, for any reason, in our absolute discretion, particularly where we reasonably consider that you are engaged in fraudulent activity or are in breach of these Terms or our Distributor's Terms or where you may be unable to fulfil your obligations under these Terms or our Distributor's Terms



7.14 We may also cancel your Order if we are required to do so on the instructions of any law enforcement agency or regulatory body, in which case we may retain all or any of your money if we are required to do so by law and deal with it as ordered by a court or other body of competent jurisdiction.



PAYMENT FOR ORDERS



8.1 When making payment, you will be warranting to us and the Distributor that the funds used have not been obtained by illegal means nor in any way contrary, and that you are authorised to use them. We may require 3D Secure authorisation for any card payment, and the cardholder may need to be present to provide this and authorise the spend.



8.2 The price of any Currency will be as quoted on our Site from time to time, except in cases of obvious error.



8.3 The rate of exchange applicable to the Currency is displayed on the currency converter. Prices are updated regularly on our Site. In order to give you a reasonable time to complete your Order, price updates will be subject to a delay according to our pricing policy in force at the time of your Order. We cannot guarantee that the price will be held until such time as you do complete your Order. If the Order times out, you will be notified and given the opportunity to start your Order again at the price prevailing at the time you restart.



8.4 All prices exclude delivery costs and payment processing, credit or debit card handling costs (where applicable), which will be added to the total amount due prior to you confirming your Order.



8.5 Use of a payment services agent. We may use one or more reputable payment services agents to process card and bank payments. We will securely supply your personal details including name, billing and delivery address(es), and payment card or bank account details, to our payment services agents for the purpose of clearing your payment and undertaking fraud prevention checks on such a payment. Our payment services agents may store your personal details and payment card or bank account details for up to 6 years for the purpose of financial accounting and fraud prevention.



8.6 What we do with your payment information. We will store only a summary of the transaction, which will include a truncated record of your payment card or bank account for the purposes of identifying the transaction, for the purpose of financial accounting and management of your Subscription.



RESTRICTED CURRENCIES



9.1 We supply a range of currencies for which certain currencies may be restricted for non-residents. We advise all travellers to check in advance of ordering their travel money whether any restrictions apply on how much local currency they can bring into the country they are visiting. Tour operators and embassies should be able to provide information about restricted currencies and any related thresholds that may apply.



DELIVERY AND COLLECTION



10.1 Our Distributor may offer a choice of: pre-payment and delivery to a UK residential address (“Home Delivery”); pre-payment and delivery to a non-billing address (“Reserve & Collect”); or collection from one or more pre-defined locations (“Click & Collect”), and we may choose at our discretion to make either or more of these delivery and collection services available to selected Account Packages.



10.2 Our Distributor will be responsible for delivery of your Currency on the Distributor's Terms – whether Home Delivery, Click & Collect or Reserve & collect - which will in turn require you to accept the terms and conditions of carriage of Royal Mail (or other chosen delivery services agent) or the terms of any Click & Collect service we offer.



10.3 Once an order has passed from the Distributor to Royal Mail (or other chosen delivery services agent), neither TMC or the Distributor can accept any responsibility for the loss, damage or late delivery of an order although we will make all reasonable endeavours to assist you in a claim against the delivery services agent for compensation for failure to meet their terms and conditions.



10.4 Sharing your details with our delivery services agent. Please note, that your email address and telephone numbers may also be passed on by the Distributor to Royal Mail (or other chosen delivery services agent) so that they can confirm your tracking details via SMS or Email. They will also pass on your name and delivery address.



10.5 Geographical Limitations. We may not be able to guarantee deliveries to certain areas within the United Kingdom. Ability to deliver to certain locations will be subject to Royal Mail's (or other chosen delivery services agent) policies at the time the Order is made.



10.6 Collections. Once an order has passed from the Distributor to Royal Mail (or other chosen delivery services agent) for delivery to your selected collection location, neither TMC or the Distributor can accept any responsibility for the loss, damage or late availability of an order.



10.7 Where such loss, damage or availability is due to an error or omission by Royal Mail (or other chosen delivery services agent), we will make all reasonable endeavours to assist you in a claim against the delivery services agent for compensation for failure to meet their terms and conditions.



10.8 Where such loss, damage or availability is due to an error or omission by the collection location – and such collection location is not owned or operated by us - we will make all reasonable endeavours to assist you in a claim against the collection location for compensation for failure to meet their terms and conditions.



YOUR RIGHTS TO CANCEL YOUR ACCOUNT



11.1 Your right to change your mind. You have the right to cancel your Account at any time. Should you submit an Application for a new Account before the Renewal Date on a cancelled account, the value of Orders placed in the cancelled account may still count towards your MAOV.



HOW TO CANCEL YOUR ACCOUNT (INCLUDING IF YOU HAVE CHANGED YOUR MIND)



12.1 To cancel your Account immediately, you can do one of the following: (a) Online. Use the 'Cancel’ option under the account section of the Site. (b) By post. Write to us care of Spendology Limited, New Beacon Building, Stafford Enterprise Park, Weston Road, Stafford ST18 0BF, including details of your Account, including your email address.



OUR RIGHTS TO CANCEL OR SUSPEND YOUR ACCOUNT



13.1 We may terminate or suspend your Account if you breach these Terms. We may terminate your Account at any time without any obligation to provide you with a refund by writing to you if: (a) you do not make any payment to us when it is due and you still do not make payment within 14 days of us reminding you that payment is due; (b) you do not, within a reasonable time of us asking for it, provide us with information that is necessary for us to provide the Services, for example, proof of identity; (c) we have any reason to suspect you of fraud or money laundering.



13.2 When your account is terminated or suspended by us, any orders in progress which have not been despatched may be cancelled by the Distributor and you not receive any currency from us. We or the Distributor may attempt to intercept any orders which have been despatched for delivery or collection but have not been successfully delivered or collected.



13.3 We may be instructed by the authorities to surrender any funds you have paid to us or the Distributor. Otherwise, we will refund any funds less a reasonable administration fee within 5 working days to the original payment source, and failing that by bank transfer to a UK bank account of your choice.



ANTI MONEY LAUNDERING



14.1 In order to use our Services you must comply with all applicable laws and regulations, including those relating to anti-money laundering regulations. If you fail to do so we reserve the right to cancel your Account and prevent you from using our Services.



14.2 We may ask you for further information. In order to enable us to comply with our anti-money laundering and other legal obligations and our internal risk and fraud policies, we may ask to you for further information and identification (such as proof of your residential address/driver's licence details/ passport details and details relating to your source of funds and/or use of funds). We may also ask you to provide updated information and identification at the request of the Distributor, on renewal of your Account, or should you move home, get married or otherwise change your name by deed poll. The name on the credit or debit card that you use to purchase Currency must match that on the identification document(s) that you submit to us.



14.3 How we will verify your identity In order to verify your identity we follow the guidelines published by the Joint Money Laundering Steering Group which require: (a) Two full name and home address matches from separate sources; or (b) One full name and home address match and one full name and date of birth match from separate sources; and (c) The first payment to be completed with a card or bank account registered at the verified home address; (d) Verification of additional aspects of your identity including social media accounts, telephone directory entries and postal service databases.



14.4 Use of an identity services agent We may contract with a reputable identity services agent to undertake identity checks of all new applicants and to verify any changes to the personal details you have provided. We will securely supply them with your personal details and any requested identity documents, and they may store that information along with their results for a period of up to 6 years for the purposes of fraud prevention. We will store their response for up to 72 hours to assist with completion of our identity checks after which we will store only a summary of the results for a period of up to 6 years to assist with fraud prevention.



OUR RESPONSIBILITY FOR LOSS OR DAMAGE SUFFERED BY YOU



15.1 Limit of Liability. Our liability for any losses that you may suffer as a result of us breaching these Terms is limited to the net profits we have made from any Orders placed through our systems. The aggregate liability of us and our Distributor in respect of any breach of the terms relating to a single Order shall be limited to the total value of that Order.



15.2 We do not guarantee that access to the Site and our Services will be uninterrupted. We will not be liable for any loss that you may incur as a result of failure to obtain a particular rate of exchange due to unavailability of the Site and our Services.



15.3 We are responsible to you for foreseeable loss and damage caused by us. Subject to the above limits, if we fail to comply with these terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during the sales process.



15.4 We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation



15.5 When we are liable for damage to your property. If defective digital content which we have supplied damages a device or digital content belonging to you and this is caused by our failure to use reasonable care and skill we will either repair the damage or pay you compensation. However, we will not be liable for damage which you could have avoided by following our advice to apply an update offered to you free of charge or for damage which was caused by you failing to correctly follow installation instructions or to have in place the minimum system requirements advised by us.



15.6 We are not liable for business losses. We only provide the Services for domestic and private use. If you use the products for any commercial, business or re-sale purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.



OTHER IMPORTANT TERMS



16.1 We may transfer this agreement to someone else. We may transfer our rights and obligations under these terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.



16.2 You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under these terms to another person if we agree to this in writing.



16.3 Nobody else has any rights under this contract. This contract is between you and us. No other person shall have any rights to enforce any of its terms.



16.4 If a court finds part of this contract illegal, the rest will continue in force. Each of the paragraphs of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.



16.5 Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you miss a payment and we do not chase you but we continue to provide the products, we can still require you to make the payment at a later date.



WHICH LAWS APPLY TO THIS CONTRACT AND WHERE YOU MAY BRING LEGAL PROCEEDINGS



17.1 Which laws apply to this contract and where you may bring legal proceedings. These terms are governed by English law and you can bring legal proceedings in respect of the products in the English courts. If you live in Scotland, you can bring legal proceedings in respect of the products in either the Scottish or the English courts. If you live in Northern Ireland, you can bring legal proceedings in respect of the products in either the Northern Irish or the English courts.

Updated on: 27/04/2023

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