SDHFS Financial Services

Account Holder Terms and Conditions

1.1 The St Daniel House (SDH) account comprises one or more of a digital wallet a named bank account, a named multi-currency account, prepaid card(s) and an FX facility which operate together as a current account intended for personal use, unless applied for as a business.

1.2 SDH reserve the right to approve or decline any account application at their sole discretion.

1.3 This Agreement will commence on the Commencement Date and will continue until terminated in accordance with its terms or in accordance with applicable law.

1.4 These Terms and Conditions explain to you how the account will operate and sets out the obligations SDH owes to you and the obligations that you owe to SDH.

1.5 We are obliged by law to verify your identity; individuals must be over 18 and be able to provide proof of who you are and your address additional checks will be conducted in accordance to our vulnerable persons policy, and, for business customers we conduct these checks on the individuals deemed to be in control of the entity including company directors. We may use reference agencies for electronic identity checks to verify your identity and cross check with fraud prevention agencies and financial crime agencies.

1.6 You may be required to provide SDH with a specimen of your signature so that SDH can authenticate your written instructions as being genuine.

1.7 Identity authentication agencies may keep a record of the search.

1.8 We may use an automated scoring system as part of our verification process however we may ask you for further information and/or documentary evidence of business activity.

1.9 If we suspect that you have provided false or inaccurate information, we reserve the right to record our suspicions at fraud prevention agencies and may pass information about you to the appropriate law enforcement agency.

1.10 You can request the details of the organisations that we share information with by email at info@sdhfs.uk

1.11 If you are subject to insolvency proceedings, in certain circumstances, you may be asked to provide a validation order from the Court and  we will not be liable for any expenses, costs or losses incurred by you or your insolvency practitioner.

1.12 You undertake to inform us of your changes in circumstances within seven days of entering into an insolvency event.

In these terms and conditions:

2.1 ‘SDH Financial Services Account’ means an account in your name opened with SDH and which consists of your dedicated account number, Sort Code, IBAN and a prepaid Mastercard debit card. Swift Code for GBP, or Account Number, Routing Code, IBAN and BIC for foreign currency accounts.

2.2 ‘E-Money’ means electronic money in substitution for cash intended to make payments of a limited amount.

2.3 ‘Insolvency Event’ means any bankruptcy or winding-up petitions or orders or resolutions, the appointment of an administrator or receiver, an insolvent re-organisation (by way of voluntary arrangement or otherwise) or the occurrence of any similar or analogous insolvency event.

2.4 ‘load’ or ‘loading’ means the act of replenishing the balance on your SDH Financial Services Account.

2.5 ‘Our Site’ means www.sdhfs.uk and other websites we use to deliver our services

2.6 ‘Recurring Transaction’ means a regular payment debited from your SDH Financial Services Card or account in accordance with your instructions.

2.7 ‘we’, ‘us’, ‘our’ means St Daniel House Ltd

2.8 ‘you’, ‘your’ means the customer in whose name the SDH Financial Services Account is opened. This definition extends to any authorised users of the account who will have access to all Account transactions.

YOUR OBLIGATIONS

3.1 You will notify us in advance (or, if for reasons of confidentiality you cannot notify us in advance, as soon as possible afterwards) if there is a change of Control of your company or a change in your circumstances. Such notification must include details of the new, for example, Controller or address.

3.2 If two or more persons are comprised in the expression “you” or “your” then, unless this Agreement expressly provides otherwise, each of those persons shall be jointly and severally liable for each of the obligations and liabilities under this Agreement.

3.3 You acknowledge and agree that you are not a shell company, or a charity as defined in the PSR.

 
OUR OBLIGATIONS

3.4 The SDH Financial Services Account is an E-Money Account and the money in your Account is held with a Tier 1 Bank.

3.5 The SDH Financial Services Account can be accessed online and can be used to make purchases of goods or services, order foreign currency and to send and receive multiple currency payments.

3.6 Money held in your SDH Financial Services Account does not earn interest and does not constitute a deposit.

3.7 SDH Financial Services does not act as a trustee, fiduciary or escrow holder in respect of any residual balances held in your SDH Financial Services Account.

3.8 You can pay money into your SDH Financial Services Account by electronic fund transfers.

3.9 SDH Financial Services will accept payments made to your SDH Financial Services Account directly by third parties but will not accept cheques of any value or cash from a third party of more than £10,000 (or the equivalent currency) unless such additional documents are supplied to satisfy SDH Financial Services as to the source of funds and the identity of the individuals involved in the transaction in accordance with money laundering legislation.

3.10 In the event that you are expecting to receive a large deposit, and especially if this originates overseas or is an international payment, then we would ask that you make prior arrangements with us to avoid any delays or suspensions of payments.

3.11 We do not accept payments in third party names.

3.12 We may also ask for proof of the source of funds.

3.13 We may refuse to accept a payment into your account if we reasonably believe that to do so would cause us to breach a legal requirement or that it would expose us to action from any regulator.

3.14 If SDH Financial Services is unable to execute a payment request we will notify you of being unable to execute the order and, if possible, the reasons for our refusal.

3.15 If money is paid in from abroad, we will tell you the original amount received and any charges. Certain foreign currencies received will be converted into a currency that we hold. Should a credit be rejected for some reason the payment may be converted back into the currency before being returned. You are liable for any fluctuations in the currency exchange and charges will be applied by the relevant banks.

3.16 We are not able to accept cheques.

3.17 If we are informed that money was paid into your account in error, we can take an amount up to the amount of the payment from the account. We do not have to seek your permission to withdraw the amount. We will do all that we can to minimise any inconvenience to you.

3.18 There is no overdraft facility on your SDH Financial Services Account.

3.19 Clearing times for money loaded into your SDH Financial Services Account will between 2 (e.g. UK faster payments) and 2-3 days (SWIFT, BACS) due to bank cut off times for foreign currency transactions.

3.20 As part of our obligations as provider of services, by agreeing to these terms and conditions you authorise and acknowledge that all transaction activity will be monitored in accordance to the MLR 2017 and that you consent to us monitoring payment instructions and payment transactions for the prevention and detection of money laundering, fraud, breach of sanctions and other crimes.

4.1 Each party will perform its obligations under this Agreement in accordance with Applicable law.

4.2 Each party will ensure it has, at all times, all permits, licenses, authorisations and consents necessary to perform its obligations under this Agreement (and, in our case, necessary for us to perform the Services).

4.3 Each party will promptly provide all information, co-operation and assistance reasonably requested by the other party to enable the other party to respond to the request of any Regulatory Authority.

5.1 You can take money from your SDH Account by transferring money to another bank your prepaid card, a beneficiary of a payment or other service provider.

5.2 You may close the Account by notifying us in writing and we reserve the right to charge you a redemption fee for the refund of funds to you. We will arrange for the balance to be remitted to your nominated bank and to facilitate the redemption request we require certain information from you before we are able to process this.

5.3 You can arrange for a regular bill to be paid from your SDH Financial Services Account, these can be made by standing order via a faster payment or by a direct debit.

5.4 If you wish to cancel a regular payment you can do so by visiting your account online or by contacting us directly. You must let us know of the cancellation 3 working days prior to the payment to ensure that the payment is not automatically sent as we cannot recall any payments made. We would ask you to also inform the company to whom the regular payment is made of the cancellation so that they can also amend their own records.

5.5 A business or other organisation you have a direct debit with will normally tell you 10 working days before changing the payment dates or amount of money they ask us to pay them from your account. For certain accounts we allow direct debit payments to be collected from your account on the date specified in the direct debit instruction. If you think there has been an incorrect direct debit payment you should tell us immediately so that we can arrange a refund. If you have a dispute about a direct debit you will need to resolve the dispute with the company or organisation directly.

5.6 If the balance in your account is insufficient to meet the regular payment, we will not make the payment and we will inform you that the payment has not been made. You will then be responsible for making alternative arrangements for payment and incur fees.

5.7 The remittance of funds as part of a Transaction is executed at the earliest available time slot during the banking day or on the next banking day as appropriate. You acknowledge that funds received before 14:30 Central European Time (CET) on a business day will be processed on the same day.  Funds received after 14:30 CET may be processed on the following business day.  Funds that are being sent abroad will be processed according to the exchange rate applied.

5.8 Banks have specified times of cut-off for the receipt and dispatch of electronic payments. SDH Financial Services accepts no responsibility for any delay in onward payment attributable to the late arrival of funds or instruction of payment relative to the cut-off times of the bank at which the Customer’s payment account is maintained.

5.9 Until a payment is accepted by the beneficiary or their bank, you remain the owner of those funds and SDH Financial Services holds those funds as agent.

5.10 SDH Financial Services will not be able to withdraw those funds or send the funds to any other recipient without your instruction to cancel the original Transaction and reissue as a new Transaction (in respect of which, see clause 7 below).

5.11 You cannot cancel a one-off payment once the funds have been debited from your SDH Financial Services Account.

5.12 We reserve the right to be able to refuse to make a payment from your account if we reasonably believe that to do so would cause us to breach a legal requirement or cause action to be taken against us by a regulator.

5.13 We reserve the right not to act on your instructions if we are required to do so for legal reasons or to comply with regulations.

5.14 We reserve the right to refuse to act on your instructions if there are insufficient funds in your SDH Financial Services Account to meet the payment.

5.15 If you make a withdrawal from your account and there are insufficient funds in the account, then we will request a payment of the shortfall from you immediately. We may suspend your account until the shortfall is repaid.

6.1 You will be able to check your statements by logging into your online account.

6.2 You are able to download your statements online.

6.3 If you require a paper copy of your statements, you will be charged a fee.

6.4 If there is an entry on your statement that you consider to be wrong, then you should tell us about this as soon as possible so that we may investigate this for you. During this investigation you will co-operate with us and with the police, if it has been necessary to involve them.

7.1 To keep matters in order you are required to maintain a positive balance on your account and enough to meet any monthly management fee. Where applicable the monthly management fee will be charged on the 1st day of each month. If there is insufficient money in your account to meet this fee but there is a positive balance on the SDH Financial Services Prepaid Card then we have the authority to transfer the funds from the Prepaid Card to the SDH Financial Services Account to meet the fee.

7.2 You must retain a minimum balance on your account of £50.

7.3 If you have insufficient funds in your account to meet the management fee for three consecutive months, then we will suspend your SDH Financial Services Account.

7.4 When funds are paid into the Account the fees will be taken immediately.

7.5 We will deduct the management fee on the 1st day of the month, but other charges will be deducted from the SDH Financial Services Account on the date of the transaction.

7.6 If you have a retail account which is being operated as a corporate account, SDH Financial Services reserve the right to close the account and reopen a corporate account and you will be charged the corporate account fee backdated charges to the date of the opening of the original account.

8.1 You acknowledge that when you initiate a transaction through the service You must select the currency in which the payment to the beneficiary is to be made. The beneficiary might be able to instruct their agent or bank to convert the funds to a currency which the beneficiary requires rather than the currency selected by you. You acknowledge that SDH Financial Services might make additional revenue when the funds are converted into the currency selected by the beneficiary and that you have no claim upon such income.

 

8.2 At times additional terms apply to fund transfers to foreign countries in relation to the beneficiary’s account number and codes and minimum payments and deductions by receiving banks for fund transfers to different accounts. The beneficiary’s bank may also deduct their own charges. You are responsible for checking that your beneficiary’s bank in a foreign country will accept payment.

8.3 To effect overseas funds transfers it may be necessary for SDH Financial Services to pass your personal information to individuals, banks or organisations in countries located outside of the European Economic Area (‘EEA’) that do not have laws that protect a customer’s personal information.

 

8.4 SDH Financial Services retains the right to ensure efficient delivery using any correspondent bank or intermediary bank that we have access to.

9.1 Our online banking system and mobile website is safe and secure. However, ensure that you keep your computer/mobile/tablet secure. Please inform us if these are lost or stolen and ensure that your system security is up to date, including your personal firewall, spyware software and anti-virus.

9.2 Keep your password and security details safe and secure at all times.

9.3 We will never contact you to ask you for your online banking details, your PIN or your password.

9.4 Treat any emails received concerning your account with caution, especially if you are asked about your personal details.

9.5 Always access our website by typing our address in the web browser and do not access our website using a link from an unknown third party.

9.6 Once you have logged in to the Mobile banking site, do not leave your mobile device unattended or let anyone else use your mobile device. Also ensure that you log out of the Mobile banking site once you have finished and do not leave the Mobile banking site running in the background whilst logged in.

9.7 You may be responsible for unauthorised payments made from your accounts if you have not kept your mobile devices and your security details safe.

9.8 For more information on how to safely bank online, visit http://www.financialfraudaction.org.uk/consumer.

10.1 You will be liable for any losses on your SDH Financial Services Prepaid Card Account if you have acted fraudulently or without reasonable care.

10.2 We will limit your liability in circumstances where on investigation we have deemed that you have not been complicit in either fraudulent activity or acted without reasonable care as follows:

    10.2.1 If someone else uses your card or account before you have been able to tell us that it is compromised, we will attempt to recover the funds and return the amount to your account.
    10.2.2 If someone uses your card or account without your permission after you have notified us that your card or account has been reported lost or stolen or compromised, you will not be liable for those transactions.
    10.2.3 If someone uses your card without your permission for transactions where the cardholder needs not be present, then you are not liable for those transactions.
    10.2.4 If your card is used before it is received by you then you are not liable for those transactions.
    10.2.5 If you have acted with reasonable care and not fraudulently you will not be liable for losses caused by a third party on your online account.

10.3 We will provide the Services and perform our other obligations with reasonable care and skill and in accordance with our own policies.

10.4 Subject to clause 10.4 our total aggregate liability to you in respect of any and all claims arising in any calendar year, whether in contract, tort (including negligence and breach of statutory duty howsoever arising), misrepresentation (whether innocent or negligent), restitution or otherwise, for any Loss arising out of or in connection with the performance or contemplated performance of this Agreement (or any collateral contract) will in no event exceed the value of the Charges paid and payable by you to us during the calendar year in which the relevant claim or claims arise.

10.5 While reasonable efforts have been made to ensure the accuracy, currency and reliability of the content provided through the Services, you acknowledge and agree that all information and services are provided “as is” and we cannot guarantee the completeness, accuracy, timeliness or results obtained by you through using the Services.

10.6 We are not liable to you for any Loss arising from or in connection with any action taken or omitted to be taken by us or by any third party (including any Indirect Third Party Service Provider) in connection with the performance or contemplated performance of this Agreement (or any collateral contract) except to the extent the Loss is the result of our fraud, wilful default or negligence (in which event, subject to clause 10.5 the limit of liability in clause 10.5 applies).

10.7 Without limiting clause 10.6, where we consider it appropriate to pursue any remedy or financial redress from an Indirect Third Party Service Provider, if we are successful in obtaining any financial redress from such Indirect Third Party Service Provider, we will pass through a proportionate part of any such amounts recovered as we deem appropriate, having taken into account any outstanding Losses, liabilities or costs incurred by us.

10.8 Other than as expressly set out in this Agreement, we do not give any warranty of any kind, express or implied, on behalf of us or our suppliers in relation to the Services or anything else provided through or under this Agreement, including warranties as to performance, merchantability or fitness for a particular purpose.

10.9 We and our suppliers do not accept any liability to you or anyone else for any decision made or action taken in reliance on, or for any errors or omissions in, or for any results obtained through the use of, any information provided through the Services.

10.10 We will not be liable to you (or any third party) under contract, tort (including negligence), statute or otherwise, for:

    a. any special, indirect or consequential losses; or
    b. any loss of profit, loss of business, loss of revenue, loss of contract, loss of data, loss of anticipated savings, loss of goodwill or reputation or any compensation the party chooses in its discretion to pay, whether direct or indirect.
    c. we are not liable to you for any delay or failure to comply with our obligations in connection with this Agreement, including our obligation to provide any Service, to the extent that your failure or delay in performing your obligations under this Agreement causes or contributes to our delay or failure to comply with our obligations.

10.11 Your relationship with a Direct Third-Party Service Provider will be governed by the agreement between you and that Direct Third Party Service Provider and we are not liable to you or anyone else for any Loss suffered by you or any third party arising from the provision of services or any other act or omission of a Direct Third Party Service Provider.

11.1 If your SDH Financial Services Account is closed, the Account and the Prepaid Card Account may be closed together.

11.2 You have the legal right to cancel your SDH Financial Services Account within 14 days of the receipt of your first SDH Financial Services Card or Account activation (“Cooling Off Period”). If you cancel your SDH Financial Services Account within the Cooling Off Period, then any funds will be returned within 5 working days with no further charges.

11.3 You are able to cancel your SDH Financial Services Account at any time after the period stated at 14.2 in writing, by email or by phone. We will charge you minimum of £5 or 1% of the balance and return any remaining funds to you less any charges or transaction fees. We will return the funds to you to your nominated account by electronic transfer.

11.4 If SDH Financial Services takes steps to close your SDH Financial Services Account, we will usually give you 60 days’ notice. However, we reserve the right to close the SDH Financial Services Account if we suspect fraud or misuse, if you act in a threatening or abusive manner towards our staff or representative or if you act in breach of these terms and conditions of use.

11.5 SDH Financial Services also reserves the right to close your SDH Financial Services Account immediately if we have concerns over security, if we are required to do so by law and we will tell you of this closure as soon as we are permitted to do so.

11.6 Force Majeure – If either party is wholly or partly unable to perform its obligations under this Agreement because of a Force Majeure Event, then:

  1. the affected party will immediately notify the other party of the extent to which it is prevented from performing its obligations;
  2. if we are the affected party, we will promptly implement our business continuity plan;
  3. the affected party will use reasonable efforts to minimise the effect of the Force Majeure Event; and
  4. if the affected party complies with its obligations above, that party will not be liable to the other party for Losses the other party suffers as a result of the Force Majeure Event.

11.7 If we close your SDH Financial Services Account, you must tell us within 3 months of the date of the closure what you would like for us to do with any remaining funds.

11.8 Once your SDH Financial Services Account is closed we will not process any further transactions and will reject any requests for transaction authorisations. We will not process any further payments from your SDH Financial Services Account. We will debit any outstanding transaction fees and charges and we will also deduct any transactions that were authorised before the closure plus the related transaction fees.

11.9 If, after the account is closed, there are credits to be paid to the SDH Financial Services Account, it is your responsibility to ensure that these are paid to you directly instead.

12.1 You will find our current terms and conditions on our website.

12.2 We will communicate any changes to these terms and conditions to you by email or post. If the changes are detrimental to you, we will communicate these to you 60 days before the changes are implemented. You will be able to close you SDH Financial Services Account at any time over that 60-day period without incurring any other charges. Any other changes will made immediately and notified within 30 days.

12.3 So that we can communicate with you please ensure that your contact details which we have for you are up to date and we will assume that the details we hold for you are current and that the communication has been received by you.

12.4 The Mastercard exchange rate is used to convert foreign transactions into Sterling.

We will charge our fees to your SDH Financial Services Account.

14.1 You must notify us as soon as possible if you change your name, address, phone number or your email address.

14.2 If we contact, you about your SDH Financial Services Account we will use the most recent details that you have provided us with.

14.3 We will not be liable to you if you have failed to tell us of any change of contact details.

14.4 We will treat communication with you by text, phone, email or post as having been received by you. Communications by text message or email will be treated as having been received as soon as it is sent. Correspondence sent by first class post will be considered to have been received the next working day.

When you open an SDH Financial Services Account you agree to the use of your personal data in accordance with our Privacy Policy which you will find on our website or we can provide you with a copy of this If you request this from us in person.

a) We have developed our Services with IT security and the Data Protection Legislation in mind, in accordance with our role as a data processor and, to the extent applicable, a data controller.

b) Each party acknowledges and agrees that the CFSZIPP Protection Clauses shall be deemed to be incorporated into and form part of this Agreement.

c) Each party acknowledges that the personal data processed in connection with this Agreement may include the information set out in the table below and such other personal data as may be agreed between the parties in writing from time to time.

16.1 We provide services to our customers (including the Services we provide to you) in a ring-fenced environment via a centralised platform and we may need or want to enhance, modify or update the Services the outputs of the Services from time to time. You acknowledge and agree that we may make enhancements, modifications or updates to the Services at any time, including where required to comply with Applicable Law or any direction from a Regulatory Authority, or to rectify errors, improve security or change the scope of services that we provide. We will endeavour to implement such changes to the Services with minimal disruption to your use and enjoyment of the Services but will provide at least 5 Business Days’ written notice to you if any changes may cause any such disruption.

16.2 In the case of a change(s) to the Services required to comply with Applicable Law or a direction from a Regulatory Authority, or which are critical to the continuation of the Services we may implement the change(s) prior to notifying you, to the extent that it is necessary for us to do so to comply with Applicable Law or a direction from a Regulatory Authority or if such change(s) is critical to the continuation of the Services provided that we will notify you of the relevant change as soon as reasonably practicable after implementing it if we reasonably believe the relevant change has adversely impacted or may adversely impact the Services we provide to you.

16.3 We will endeavour to make the Services available to you, except if we are unable to do so due to Maintenance. Without limiting clauses 16.1.1 or 16.1.2 if Maintenance is required on any aspect of the Services and such Maintenance will impact your use of the Services, we will give you at least 5 Business Days’ notice of such Maintenance (except in the event that such Maintenance is required on an urgent or emergency basis, in which case we will not give you any notice prior to the Services being unavailable).

17.1 You can contact us:

    17.1.1 via the ‘contact us’ facility on our website,
    17.1.2 by phone on +44 (0)808 196 3322. We may monitor or record calls to help us improve our customer service
    17.1.3 Lost or Stolen cards can be reported 24 hours a day by logging onto your online account or by phoning us on +44 (0)2393 190 729. We may monitor or record calls to help us improve our customer service
    17.1.4 by post at SDH Financial Services,

18.1 If you are unhappy in any way with your SDH Financial Services Account, please tell us so we can try to resolve the situation. You can complain via email, post or by calling +44 (0)2393 190 729.

18.2 If we are not able to resolve it quickly, we will send you a prompt written acknowledgement to confirm that we are dealing with it.

18.3 We will keep you informed of our progress in dealing with your complaint.

18.4 We will send you our final response within eight weeks (or explain why we are not in a position to make a final response) and tell you that you may be able to refer your complaint to the Financial Ombudsman Service.

18.5 If you have a complaint, please contact our Complaints Manager. You can write to our Complaints Manager at our head office. Alternatively, you can email us at complaint@sdhfs.uk. The Complaints Manager will pass your complaint to the line manager of the member of staff with whom you have been dealing. This will give them the opportunity to explain what actions have been taken and to try to sort things out with you.

18.6 Acknowledgment. Timeframe: Within 5 business days of receiving your complaint. We will send you a letter acknowledging your complaint and will let you know the name of the person who will be dealing with your complaint. The letter will contain details of our Complaints Policy and of your right to refer the complaint to the Financial Ombudsman Service if you are dissatisfied with our assessment and ruling. You can expect to receive our letter within 5 business days of us receiving your complaint.

18.7 Recording your complaint. We will record your complaint and provide a summary of it to the Financial Conduct Authority (FCA) and to our Insurer. These details will usually include as a minimum; the nature, date and method of communication of the complaint, your details, how the complaint was dealt with (outcomes), whether the complaint was upheld or refuted, whether the complaint was closed or whether it remains open and outstanding and what financial redress or other significant outcome resulted from the complaint. Private information will not be shared with any third parties and we comply with the Data Protection Act 1998.

18.8 Final Response letters will enclose a copy of the Financial Ombudsman’s standard explanatory leaflet and will inform you that if you remain dissatisfied with the response, you can refer your complaint to the Financial Ombudsman and must do so within six months.

18.9 Holding Response. If we are unable to conclude the investigation, we will issue what is called a Holding Response, which will enclose a copy of the Financial Ombudsman’s standard explanatory leaflet. The purpose of this is to inform you of the reasons why we cannot provide a Final Response and to provide a further indication as to what is happening with the complaint and when you can expect to hear from us again.

18.10 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 eight weeks of your complaint. The contact details are: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR; phone 0300 123 9 123, website http://www.financial-ombudsman.org.uk.

19.1 The SDH Financial Services Card is an electronic money product and although it is a product regulated by the Financial Conduct Authority (FCA), it is not covered by the Financial Services Compensation Scheme (FSCS). No other compensation scheme exists to cover losses claimed in connection with the Card or Account. As a responsible service provider our e-money issuers, and St Daniel House ensures that once it has received your funds they are deposited in a secure account, specifically for the purpose of redeeming transactions made with your SDH Financial Services Account or Prepaid Card.

20.1 We may assign the benefit and burden of these terms and conditions to any provider company at any time, on giving you at least 60 days prior notice. If we do this, your rights will not be affected.

20.2 We may transfer your Card Account to a card issuer other than Cashflows Europe Limited at any time. If there are new terms and conditions, we will provide these to you. Unless you advise us that you do not want the new Card, you agree that we can transfer the balance on your existing SDH Financial Services. Prepaid Debit Card to the new Card when you activate it.

21.1 These terms and conditions are concluded in English and governed by English law. All communications with you will be in English

21.2 These terms and conditions are subject to the jurisdiction of the English Courts.

SDH Financial Services Card Products are issued by Monavate Ltd., pursuant to license by Mastercard International. Mastercard is a registered trademark of Mastercard International Incorporated.


Monavate Ltd a company registered in England and Wales whose registered office is at SUITE EF38, The Officers Mess Business Centre Royston Road, Duxford, Cambridge, England, CB22 4QH. Monavate Ltd is authorised in the UK by the Financial Conduct Authority (register reference 901097) under the Electronic Money Regulations 2011 for the issuing of electronic money and the provision of payment services.

The e-money loaded to the SDH Prepaid Card will be issued by St Daniel House Ltd. St Daniel House is authorised in the United Kingdom by the Financial Conduct Authority as an EMD Agent under the Electronic Money Regulations 2011 for the issuing of electronic money and the provision of payment services are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).

Account services are provided by St Daniel House Ltd trading as SDH, who are authorised by the Financial Conduct Authority as an EMD Agent and Authorised Representive. 

GBP Bank Account Services are provided by CFS-Zipp Ltd an Electronic Money Institution authorised by the Financial Conduct Authority (reference number: 900027).

EUR Bank Account Services are provided by Transactive Systems UAB who is authorized by the Bank of Lithuania Authorised Electronic Money Institution (authorization number LB000443)

Multi Currency Account Services are provided by The Currency Cloud Limited, authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199); all clients who use this product are subject to The CurrencyCloud Limited’s T&Cs

 
FX Services.

FX services are provided by SGM Foreign Exchange Limited Authorised by the Financial Conduct Authority, to carry out payment services under the Payment Services Regulations 2017 FCA reference no. 510014 and HMRC registration no. 12145706

FX Services are provided by The Currency Cloud Limited, authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199);

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