Terms and Conditions

Terms and Conditions are avaliable for UK and ROI cardholders. Please choose the correct version applicable to you.

Introduction

The V+ Prepaid Virtual card is available in Euro (€) only. The Card is not a credit card or a charge card; nor is it a debit card linked to a current account. It is a prepaid card which means that money must be loaded onto the Card at the time of purchase. You do not receive a physical card; you will be sent emails containing the card number and other relevant information to allow you to use the card online. Subject to the restrictions set out below, you can use the Card online on almost all sites that accept MasterCard. The Card is issued by Prepaid Financial Services Limited, a UK issuer based in the UK, and is subject to these terms and conditions. The V+ Prepaid Virtual card is not linked to a One4all card and is not covered by any of the terms and conditions relating to One4all products or services.

Certain limits apply to the Card:

A minimum amount of €10 and a maximum amount of €100 may be loaded onto the Card at the time of purchase.

A maximum balance of €100 may be held on the Card at any one time

Interest will not be payable in respect of Card balances.

Certain fees and charges apply to the Card; see Clause 10 of these terms and conditions.

The Card is an Electronic Money (“e-money”) product and, as such, the Financial Services Compensation Scheme does not apply. This means that in the unlikely event that Prepaid Financial Services becomes insolvent, any e-money on your Card (i.e. any credit balance) may lose its value and become unusable; you may therefore lose such e-money. Other than as set out in Clause 16 (Complaints), there are no other compensation schemes available to you in the event that Prepaid Financial Services is unable to satisfy any claims relating to the Card.

1. Definitions

"Agreement" means the agreement between you and us which includes these terms and conditions.
"Prepaid Financial Services", "We" (or "we") or "us" means prepaid Financial Services whose head office is at 36 Carnaby Street, London, W1F 7DR, England, and any business or other person to whom any or all of our rights and responsibilities under this Agreement may be transferred or delegated.
"Card" means the V+ Prepaid Virtual Card, a prepaid card denominated in Euro, or any replacement card which we issue to you from time to time. For clarity, the card is a virtual card; no actual plastic card is issued.
"Card Purchase" means any transaction whereby the Card is used as payment for goods and/or services at online Participating Retailers.
"Customer Due Diligence" means personal documentation supplied by you to us to confirm your name and current address, in order to meet our regulatory requirements.
"Limitation Period" means a period of 6 years following the termination of this agreement.
"Participating Retailer" means an online supplier of goods and/or services which has agreed to accept the Card as payment for goods and/or services.
"Ireland" means the Ireland excluding Northern Ireland.
"Website" means www.vplusprepaid.com
"You” (or “you”) and “Your” (or “your”) means the person who purchased the Card.

2. Applying for and activating your Card

2.1 The use of the Card is subject to the terms of this Agreement as may be varied by us from time to time. The current version of the terms and conditions is available on the Website. Usage of the Card constitutes your acceptance of these terms and conditions.
2.2 The Card will be issued in your name. We will assume, unless and until you tell us to the contrary in accordance with Clause 4.7, any use of the Card is carried out by you.
2.3 To apply for your Card you must be at least 18 years old and living in Ireland
2.4 We will require a mobile phone number, an email address and your residential address when applying for a Card.
2.5 You may also be asked to submit documentation to us for purposes of identification in accordance with our Customer Due Diligence, scheme or regulatory requirements. We may also use electronic methods to satisfy our Customer Due Diligence requirements.
2.6 You will receive your Card details once payment approval has been completed. Details will be sent to you online and by a text message to the mobile phone number you provide (subject to successful identity verification). Please refer to the Website for all Card lodgement options.

3. Lodging funds to your Card

3.1 Funds can be lodged to your Card, minimum of €10 and up to a maximum of €100 load (excluding load fee) by Internet top up using a One4all card only. Please remember that there must be sufficient value on your payment card to cover the value that you wish to place on the Card plus the lodgement fee. Other lodgement options may be added in the future; we will email you if and when a new option is added.
3.2 Funds will normally be available on your Card within minutes of being approved.

4. Using your Card

4.1 The Card may only be used in Participating Retailers’ websites accepting MasterCard. Participating Retailers may change from time to time.
4.2 You shall be responsible for ensuring the correctness and accuracy of all purchases made with the Card.
4.3 We will immediately debit the amount of all Card Purchases from the balance of your Card. If you attempt to spend more than the Card balance using only the Card, your transaction will be declined.
4.4 You must not use the Card:
  1. after any notification of its withdrawal is given to you
  2. after this Agreement has been terminated; or
  3. as payment for any illegal purchase.
4.5 You cannot stop a Card Purchase after it has been authorised.
4.6 We will not issue Card statements. You can obtain your Card balance or obtain information about previous Card Purchases by logging onto the website or by calling 1800 844 523. You are responsible for monitoring your Card balance and for ensuring that there are sufficient funds on the Card at all times to pay for Card Purchases. The up to date Card balance and any recent Card transactions will be available to view the same day.
4.7 You are responsible for all authorised transactions on the card. Your maximum liability is for the first €50 of losses arising from any unauthorised transactions that take place prior to your notifying us of loss, theft or misuse. You will not be held liable for any further losses once you have notified us of unauthorised transactions unless we reasonably determine that you acted fraudulently or with gross negligence (in which cases you shall be liable for all losses). We will block your card to protect your funds once you have advised us of any unauthorised transactions.
4.8 If at any time you become aware of an unauthorised debit transaction made using your Card you must notify Prepaid Financial Services by calling 1800 844 523 without undue delay and, in any event, within 13 months of the debit date of the transaction.
4.9 Once you have notified us of an alleged unauthorised or incorrectly executed transaction on your Card, we will promptly investigate your claim. In some cases we may ask you to give us further information about the transaction (for instance, to enable us to confirm that the transaction was properly authenticated). You confirm that you will cooperate with the police or other enforcement bodies if requested to do so.
4.10 Where it is established to our reasonable satisfaction that the transaction was not authorised by you, we will (subject to Clauses 4.11, and 4.13 below) refund the full amount of the transaction.
4.11 We reserve the right to refuse a refund under Clause 4.10 where you fail to notify us within 13 months of the date of the debit transaction.
4.12 We reserve the right to debit from your Card the amount of any refunds paid to you where, upon further investigation, it is subsequently established that you are not entitled to a refund. If there is insufficient balance on the Card to debit the amount of any refunds paid to you in circumstances where you are not entitled to a refund, we reserve the right to take all reasonable steps (including legal proceedings) to recover from you the amount of any such refunds together with any fees, charges or expenses that we have incurred.
4.13 We reserve the right to withhold refunds if, and to the extent that, we can show you have failed to comply with any relevant provisions of this Agreement.
4.14 Prepaid Financial Services will not be liable for defects in any goods or services paid for using the Card. Any queries or complaints about such goods or services should be addressed to the relevant Participating Retailer(s).

5. Cancellation of your Card

5.1 You have a legal right to cancel your Card up to 14 days after you have applied and paid for your Card without being charged a fee. This 14 day period is known as the “Cooling-Off Period”.
5.2 Under these terms and conditions, you also have the right to cancel your Card at any time after the 14 day Cooling-Off Period.
5.3 If you cancel your Card for whatever reason, we will immediately block your Card so it cannot be used. You will not be entitled to a refund of money you have already spent on transactions, or pending transactions or any fees due for the use of the Card before the Card is cancelled.
5.4 You can cancel your Card by sending an email to us using the 'Contact Us' function on the Website. Once we have received the necessary information, which we will advise you of at the time, the refund of the funds remaining on your card will be processed. We may ask you to provide us with further identification to proceed with the request.
5.5 Unless you have arranged to transfer any unused funds to another product managed by us, if you cancel your Card outside of the Cooling-off period Redemption Fee may be charged (see clause 10).
5.6 If at any time:
  1. you are in breach of any of the terms of this Agreement; or
  2. we have reasonable grounds to suspect fraud, theft or dishonesty;

we will be entitled to take such steps as we consider reasonably necessary to restrict your right to use the Card, which, without limitation, shall include, without prior notice to you, refusal to authorise a Purchase, suspension, withdrawal or cancellation of your Card.

If we do this, we will tell you as soon as we can or are permitted to do so after we have taken these steps. In these circumstances, you must tell us what you want us to do with any unused funds within 3 months of the date we tell you your Card is cancelled.

5.7 Your Card number will be valid for 5 years. If at that time you have used your Card within the 3 months prior to its fifth anniversary and have a positive balance on the card we will automatically send you a replacement card number and other relevant details. Any funds on your Card will automatically be transferred to your new card information.
5.8 If your card has reached its fifth anniversary and you have not received your new card number please contact us online at info@vplusprepaid.com or by phone on 1800 844 523.

6. Keeping your Card secure

6.1 You should treat your Card number like cash. You should keep the card number and other security information provided to you secure and ideally separate from each other.
6.2 You must take all reasonable care and precaution to ensure that the Card details are not lost, mislaid or stolen.
6.3 If the details are stolen, you may lose some or all of your money on the Card, in the same way as if you lost cash from your wallet or purse.
6.4 We recommend that you check the balance on your Card regularly online on the Website. You can see the Card balance and recent transactions online at any time.
6.5 If you lose your Card details or if they are stolen, or you suspect that your Card has been used by someone other than you, you must tell us immediately by calling us on our lost and stolen card helpline on 1800 844 523 so we can block your Card.

7. Liability

7.1 In the event that you do not use your Card in accordance with these terms and conditions or we find that you are using the Card fraudulently, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using this Card and to recover any monies owed as a result of your activities.
7.2 Like other payment cards, we cannot guarantee a retailer will accept your Card, or that we will necessarily authorise any particular transaction. This may be because of a systems problem, something outside our reasonable control, or because we are concerned that your Card is being misused. Accordingly, we shall not be liable in any event that a retailer refuses to accept your payment, or if we do not authorise a transaction, or if we cancel or suspend use of your Card.
7.3 Unless otherwise required by law, we shall not be liable for any direct or indirect loss or damage you may suffer as a result of your total or partial use or inability to use your Card, or the use of your Card by any third party.
7.4 We may restrict or refuse to authorise any use of Your Card in any legal jurisdiction if using the Card is causing or could cause a breach of the Terms and Conditions of this agreement or if we suspect criminal or fraudulent use of the card.

8. Redemption

8.1 You may at any time redeem the balance in whole or in part on the Card. To do so you must contact us and notify us of your intentions.
8.2 In order to allow any outstanding Card purchases to clear, we will refund the requested amount to you, by bank transfer to your nominated bank account, within fifteen Business Days of receipt of such a request. You must not use your Card after you ask us to repay the full balance to you. The appropriate redemption fee, as set out in Clause 10, will apply.
8.3 If you wish to redeem more than €1000 in any calendar year (by redeeming multiple cards), you may be required to submit additional documentation to us for purposes of identification in accordance with our Customer Due Diligence and regulatory requirements.
8.4 For the avoidance of doubt, redeeming the balance on your Card will not terminate this Agreement. If you wish to terminate this Agreement then Clause 13.4 will apply. You may be charged a fee for funds to be returned to your accounts. For security purposes funds may only be returned to an account held by you the cardholder.
8.5 Notwithstanding any Expiry Date your funds are available for redemption by contacting us at any time before the end of the 6 years Limitation Period. After the 6 years Limitation Period your funds will no longer be redeemable to you
8.6 Provided that your request for redemption is made less than 12 months following the Expiry Date redemption will not incur any Late Redemption Fee. In the event that you make a request for redemption more than 12 months after the Expiry Date and before termination of the contract an Account Closure Fee may be charged (where specified)

9. Changes to these Terms and Conditions

9.1 We may add to or change these terms and conditions in accordance with clause 9.2. We may add new fees and charges or change existing fees and charges at any time.
9.2 We will tell you in advance if we add to or change these terms and conditions or if we add new fees and charges or change existing ones. The amount and type of notice that we will give you will follow the laws and regulations that apply at that time. (For example, we may notify you by letter, electronic mail, telephone (including recorded message) or by an advertisement in an Irish daily or weekly newspaper). Most changes will occur two months after we tell you about them.
9.3 If we change or add to these terms and conditions and you are not happy to accept the changes, you may end this contract and close your Card in accordance with Clause 13.4. If you do not ask us to end this Agreement, you are deemed to accept the changes on their effective date.

10. Fees Charges

10.1
Fees
The amounts of fees and details of when they will be payable are set out in the table below. All fees will be debited directly to the Card as they arise.
10.2
Charges

Inactive Balance Charge

A monthly inactive balance charge of €1.45 (or the credit balance on the Card, if lower) will be charged after the card has been in issue for 18 months. This charge will start to be applied from the following month and will continue until the balance on the Card is zero balance and the Card will be terminated.

Category Amount
Load Fee €3.00 for amounts between €10 & €30.00
€6.00 for amounts between €30.01 & €70.00
€8.00 for amounts between €70.01 & €100
Issuance Fee FREE
Redemption Fee (This applies where you contact us to redeem the Card balance in accordance with Clause 8). €7.50 fee or the balance on the Card, if lower
Card Replacement Fee (if we issue a replacement Card at your request) €7 fee per Card
FX Fee (charged when you purchase goods or services in a currency other than Euro). 2%
Inactive Balance Charge – monthly amount charged to Cards with balances remaining that have had no transactions within an 18 month period €1.45 charge per month, or remaining balance on card if lower.
10.3 All fees and charges will be payable to Prepaid Financial Services.

11. Restrictions on use of the Card

11.1 The following Card limits will apply:
  • Minimum Load Amount €10
  • Maximum Loan Amount €100
  • The amount you pay onto the Card must be in multiples of €1

12. Your Details

12.1 You must let us know as soon as possible if you change name, address, mobile phone number or e-mail address.
12.2 If we contact you in relation to your Card, for example, to notify you that we have cancelled your Card or to send you a refund, we will use the most recent contact details you have provided to us.
12.3 Any e-mail or SMS text message sent to you will be treated as being received as soon as it is sent by us.
12.4 We will not be liable to you if your contact details have changed and you have not told us.

13 Termination of this Agreement

13.1 We may terminate this Agreement at any time on giving 2 month written notice of termination to you.
13.2 On termination of this Agreement for any reason you must immediately securely destroy the Card details. (Such as deleting emails, shredding paper copies etc.)
13.3 Following termination of this Agreement in accordance with clauses 13.1 and 13.2, we will refund the balance of the Card to you, by transferring the balance onto another product issued by us, transferring the funds into a bank account of your choice or by issuing a cheque to you, within fifteen days of such termination. No redemption fee will apply when we terminate the Agreement in accordance with clauses 13.1 or 13.2.
13.4 You may terminate this Agreement at any time on 30 days advance notice by phoning us on 1800 844 523. If you terminate this Agreement in accordance with this clause 13.4 we will refund the Card balance by electronic methods to a bank account of your choice or by cheque, minus any fees, to the latest address you have given us (we will not deduct any redemption fee in the event that you request termination after the first anniversary of the date upon which the Card is issued to you).

14. General

14.1 Prepaid Financial Services will not be liable for any delay or failure in performing any of its obligations in respect of the use of the Card where such delay or failure occurs because of any circumstances beyond Prepaid Financial Services’ reasonable control.
14.2 The accounts and records kept by Prepaid Financial Services or on its behalf shall, in the absence of an obvious error, constitute sufficient evidence of any facts or events relied upon by Prepaid Financial Services in connection with any Card Purchase or matter or dealing in relation to the Card.
14.3 Prepaid Financial Services may disclose details of the Card to any person acting as its agent in connection with the use or issue of the Card.
14.4 This Agreement shall be governed by and interpreted in accordance with Irish law.
14.5 All communications under this Agreement will be in English..
14.6 Prepaid Financial Services may record or monitor phone calls with you for training purposes, to enable instructions to be verified and to assess whether our service standards are being met.
14.7 Prepaid Financial Services may transfer to any other person any or all of its rights and/or obligations under this Agreement. Prepaid Financial Services may do this without telling you but your legal rights will not be affected and your obligations will not be increased as a result. You may not transfer your rights and obligations under this Agreement.

15. Use of your Information

15.1
Considering your application
The V+ Prepaid Virtual card is issued by Prepaid Financial Services and Prepaid Financial Services is the data controller. The personal information which you have provided to us may be used in the manner set out in this Clause 15.
15.2
Use and disclosure of your information
The personal information which we hold about you may be shared with and cross-checked by other businesses, fraud prevention or credit reference agencies, our suppliers, agents or subcontractors and anyone who introduced you to us:
  1. to verify your identity and/or address;
  2. to trace debtors, recover debt, to prevent fraud and money laundering;
  3. to manage and administer your Card; and
  4. to carry out statistical analysis and market research.

This information will be used by Prepaid Financial Services so that we may carry out statistical research and analysis, compliance and regulatory reporting and administration in respect of the Card in accordance with the above.

The Customer grants Prepaid Financial Services and relevant third parties a perpetual, royalty free right to keep a record of the information referred to above.

If you want to receive details of those fraud prevention agencies from whom we obtain, and with whom we may record, information about you, please write to us at the address shown in Clause 15.4 below. You have a legal right to these details.

15.3
Transfer of your information abroad
From time to time, we may disclose or transfer information about you to previously approved persons or companies who are based outside of the European Economic Area. We will only do so provided such persons or companies agree to give your information the same level of protection as we are required to give it in Ireland and act solely on our instructions. Such transfers abroad will be for the purpose of managing and administering your Card.
15.4
Your right to information

You have a legal right to receive a copy of the information we hold about you by applying in writing to us at:

  • Prepaid Financial Services
  • 36 Carnaby Street
  • London
  • W1F 7DR
A fee will be payable.

16. Participating Retailers

16.1 It will be necessary in all cases, for a Participating Retailer to obtain authorisation to honour the Purchase; this is to ensure that there are sufficient funds on the Card. We may refuse to authorise a purchase at any time if there are insufficient funds on the Card.
16.2 A Participating Retailer may not be able to obtain authorisation from us in some circumstances. If this happens we will not be responsible if you are unable to use the Card for a particular Purchase. Furthermore, we will not be liable for the refusal of any Participating Retailer to accept or honour the Card for any reason.
16.3 If a Participating Retailer becomes liable to make a refund to you we will not credit the amount of any refund to the Card; refunds are a matter between you and the relevant Participating Retailer.

17. Communication

17.1 If you have an enquiry relating to your Card, you can use the 'Contact Us' facility on the Website. We will deal with your enquiry promptly.
17.2 If you do not wish to enquire in this way you can alternatively call our customer service telephone line on 1800 844 523. Call costs from mobile networks may vary.

18. Complaints

If you are not satisfied with any aspect of the service offered, please contact Customer Services on 1800 844 523, via the ‘Contact Us’ link at https://www.vplusprepaid.com or write to Customer Services at Prepaid Financial Services, 36 Carnaby Street, London W1F 7DR, England. They will be pleased to help and explain the complaints procedure in more detail. A copy of the Complaints Procedure is available upon request. Prepaid Financial Services will try and resolve your complaint as soon as possible. Often however, the complaint will need to be investigated. If this is the case, Prepaid Financial Services will respond to you within 5 Business Days to acknowledge receipt of your complaint and tell you how long it might be before your complaint is resolved. If your complaint cannot be resolved, you may refer it to the Financial Ombudsman Service (the “FOS”). The FOS is an independent body. You can contact the FOS at Exchange Tower, London E14 9SR; telephone 0800 023 4567 or 0300 123 9123. Email: complaint.info@financial-ombudsman.org.uk. website: www.financial-ombudsman.org.uk.