Terms and Conditions Sogexia SmartPay 26/09/2016

Transcription

1 Preamble This document contains the terms and conditions which are governing the contractual relationship between we, R. Raphael & Sons plc (also trading as Raphaels Bank ) and you, once you have accepted such terms and conditions. The terms and conditions apply to your SmartPay Account and Card. You must read them carefully before agreeing to them. You can view or download a copy of this Agreement at any time via the Website. At any time during our contractual relationship, you may ask Customer Service for a paper copy of the Agreement. To provide you with the SmartPay Account and Card service, we are partnering with Sogexia and MasterCard International Incorporated, as described (to the extent relevant to you) in the Agreement, but none of them is a party to this Agreement. Definitions Term Meaning Activation The process whereby the Card is activated and allowed to be used. Additional Card An additional Card issued at your request, for use by an Additional Card User designated by you. Additional Card User An individual authorised by you to use an Additional Card. Agreement These terms and conditions, as well as any other supplementary provision agreed between the Parties. ATM Available Funds SmartPay Account Business Day Card or SmartPay Card Automated Teller Machine. The value at any given time of unspent funds loaded onto your SmartPay Account and available to carry out Transactions and pay for any fees applicable under this Agreement. Your account with us which allows you to make purchases and receive or make payments into or from this account. A day other than a Saturday or Sunday on which banks are open for general business in France. The prepaid MasterCard card, including any Additional Card(s), issued at your request. Creditor The beneficiary of a SEPA Direct Debit mandate. Customer Service 1

2 The contact centre available as described in the Agreement, reachable via: telephone at +33 (0) (calls to this phone number from a French landline are free, or otherwise subject to the charges of your telecoms operator); post at sogexia SAS, rue Malesherbes, Lyon, France; or at support@sogexia.com Electronic Money The monetary value electronically or magnetically stored, representing a claim on the Issuer, issued on receipt of funds for the purpose of making payments and accepted by an individual or a legal entity other than the issuer. FAQs Frequently Asked Questions IBAN International Bank Account Number Issuer us Instant Transfer Lost or Stolen Card Contact Number A transfer of funds from your SmartPay Account to another account held by us with the help of Sogexia. +33 (0) Merchant A provider of goods and/or services who accepts the Card as a means of payment whether remotely (e.g. by telephone or online) or over the counter. Online Portal The web application available at from which your SmartPay Account can be managed. You can access it by logging in, using your Personalised Security Features. Parties You and we as parties to the Agreement. Payee The person identified in a Payment Order as the beneficiary. Payer The holder of the account from which a payment is to be made. Payment Order A proper instruction issued on your behalf, requesting execution by us of a Transaction to the benefit of the Payee identified with the Unique Identifier as set out in the instruction. 2

3 PIN Personal Identification Number POS Point Of Sales Personalised Security Features The username and password you choose when applying for your SmartPay Account or change at any later time and any other security procedure or tool you choose to use to log in to the Online Portal, confirm Payment Orders, add Payees or Creditors or validate any other operation on your SmartPay Account or Transaction (e.g. your mobile phone or any one-time password generator device). SEPA Single Euro Payments Area. SEPA Credit Transfer(s) or SCT SEPA Direct Debit(s) or SDD Shortfall Transaction Unique Identifier A euro Transaction debiting a euro account and crediting another euro account within the SEPA zone. A euro Transaction intended to collect funds between a debtor (payer) account and a creditor (payee) account within the SEPA zone. An exceptional shortage in Available Funds, where they are not enough to cover the Transactions and the applicable fees. A payment transaction which we carry out on your behalf, on the basis of a Payment Order issued by you, including a SEPA Direct Debit mandate. A combination of letters, numbers or symbols used to identify unambiguously a Payer, a Payee and their account and which will usually include an IBAN and the Bank Identification Code (BIC). Upgrade Decision to offer the full range of available services following assessment of the client file. we, us, our Raphaels Bank Website you, your The SmartPay Account and Card holder 1. Your SmartPay Account 1.1 Your SmartPay Account is a payment account, without any authorized overdraft. It is not a deposit account and is not in any way connected to any account you may have with another provider. Funds credited to your SmartPay Account will be held as Electronic Money and cannot earn interest. 3

4 1.2 Your SmartPay Account may only be operated by you. However, Additional Card Users (if any) may draw Available Funds. 1.3 You can check the level of your Available Funds and manage your SmartPay Account by logging in to the Online Portal or by contacting Customer Service. The level of your Available Funds will be immediately adjusted once a Transaction has been carried out and any applicable fees have been deducted from your SmartPay Account. Your Online Portal is accessible 24 hours each day subject to maintenance or force majeure. 1.4 We draw your attention to the fact that to the extent that you are domiciled in France for French tax purposes, notification duties may be owed as part of the income tax duties owed to the relevant French tax authorities. 2. Your SmartPay MasterCard Card 2.1 Upon activation, your Card will allow you to make purchases from Merchants belonging to the MasterCard international network of acceptance, as well as cash withdrawals at ATM. 2.2 Your Card is not a credit card. 2.3 Your Card remains the property of Raphaels Bank and is not transferable to anyone else. 2.4 Your Card may only be used by you. Additional Cards are available on request and may be used by Additional Card Users where authorised by you and approved by us in each case. 2.5 Your Card is provided for your personal use only and by agreeing to these terms and conditions you hereby undertake that you shall never use it for other purposes, including business, professional and any other non-personal purposes. 2.6 After 3 failed successive attempts to enter your PIN code, your Card will be blocked. 3. Applying for and activating your SmartPay Account and Card 3.1 The SmartPay Account is distributed by Sogexia, acting on behalf of the Issuer. Your SmartPay Account may be opened online from the Website and managed thereafter from the Online Portal. 3.2 To apply for a SmartPay Account and Card, you must be at least 18 years old and a European Union resident. 3.3 If you have not Upgraded your SmartPay Account, we may ask to see evidence as to your identity, place of residence as well as on the activity of Your Account for reasons including the fight against money laundering or the financing of terrorism. We will 4

5 request this information on you and Additional Card Users if any, in the event you wish to Upgrade Your Account. 3.4 As soon as you receive your Card, you must sign the signature strip on the back of it and activate it. The Activation of the Card must be conducted from the Online Portal by way of entering the unique identification number printed at the back of the Card along with the last 4 digits of the Card number engraved on the front of it. 3.5 Your Card may not be used before signature on the signature panel on the card back and cannot be used before Activation. 4. Funds credited to your SmartPay Account 4.1 Funds can be loaded electronically to your SmartPay Account using the following methods described below. Method Debit or credit card SEPA credit transfer Instant Transfer Availability of funds The funds will normally be available to you as soon as we receive them (subject to clause 4.3, maintenance and force majeure) The funds will normally be available to you within without delay once we receive them (subject to clause 4.3, maintenance and force majeure) The funds will normally be available to you immediately (subject to clause 4.3, maintenance and force majeure). 4.2 Additional load methods may be made available from time to time, as published on the Online Portal. 4.3 All transactions towards your SmartPay Account are subject to our compliance procedures and usual security and risk checks, which may result in us holding, postponing or refusing to accept a payment. In such case we will, where possible, notify you of the reasons for our decision to do so. 5. Outbound Transactions 5.1 Purchases and withdrawals You will receive a Card linked to your SmartPay Account for you to make purchases and cash withdrawals at ATM or even at Merchants in certain countries, providing each time there are sufficient Available Funds The table in clause 17 below sets out the minimum and maximum amounts you can withdraw using your Card. In addition, Merchants or ATM may have their own limits You can verify the level of Available Funds by logging in to your Online Portal. 5.2 Outbound SCT 5

6 5.2.1 Only SCT may can be carried out pursuant to the Agreement, i.e. credit transfers between a Payee and a Payer whose accounts are held within the SEPA zone You can issue so-called outbound SCT as long as an Upgrade has been carried out, you have sufficient Available Funds and the applicable limits as set out in clause 17 are not breached Where we receive a credit transfer order before 16:30 on a Business Day, we will send the funds to the Payee s payment service provider on the same Business Day. Otherwise, the funds will be received by the Payee s payment service provider before the end of the next Business Day. We will also deduct any applicable fees as soon as they become payable by you (see clause 17) Your Payment Orders shall be deemed irrevocable as soon as we receive them You must ensure that you have provided us with the correct Unique Identifier and a reference which will allow the Payee to identify the origin of the credit transfer We may refuse to carry out an outgoing SCT: i. if we reasonably suspect your SmartPay Account is being used in an unauthorised, fraudulent, or grossly negligent manner; ii. iii. iv. if the Available Funds are not sufficient to cover the amount of the SCT and any applicable fees; if we believe the SCT would be unlawful; or if we believe that you have not validly authorised the payment In case of refusal, we will inform you about the reasons as soon as possible, to the extent that we are not prohibited from doing so by law You may correct any information we hold which may have caused us to refuse an SCT by contacting Customer Service. 5.3 SDD SDD are available only if an Upgrade has been carried out, you have sufficient Available Funds and the applicable limits as set out in clause 17 are not breached Only SEPA Direct Debits can be carried out pursuant to the Agreement, i.e. direct debits between a Payer (you) and a Payee whose accounts are held within the SEPA zone If you wish to set up an SDD, you must directly contact the Payee company (referred to as the Creditor ). You will then have to authorise the Creditor to collect the 6

7 payment from your SmartPay Account on the basis of a mandate supplied by the Creditor and completed by you. You should complete all the required fields on the mandate form You should return the completed mandate form to the Creditor, not to us. The Creditor will then arrange for the SDD to be collected from your SmartPay Account In respect of SDD providing for fixed amounts, you will be informed once only, when the SDD arrangement is put in place. In other cases, you will be informed at least 14 days before the payment is collected, unless otherwise agreed between you and the Creditor We will deduct the amount of any SDD from the balance on your Available Funds as they fall due. An SDD will be rejected if there are no sufficient Available Funds in your SmartPay Account by 09:00 am (Paris time) on the collection date The table below explains how you can amend or cancel a mandate, and how you can ask for refund from your Creditor. The table also sets out the applicable timescales. Action Cancelling a mandate Whom to contact and timescale You may inform the Creditor at any time that a mandate is cancelled. Once informed, the Creditor is no longer entitled to collect SDD funds. You may instruct us to refuse any future direct debit requests which a Creditor has pre-notified you of. In order to refuse the SDD request before adjusting your Available Funds, to this end, we must receive your instructions before 7 am (Paris time) in the morning of the Business Day on which the direct debit was to be carried out. In the negative, a request for refund will have to be made within 8 weeks as described below. Amending a mandate You may amend a mandate by informing the Creditor of the changes you wish to make. Requesting a refund within eight weeks of SDD collection If you consider that the amount of the payment is wrong, or you wish to have a refund for any other reason, you must inform us no later than eight weeks after the payment was debited to your SmartPay Account, in which case we are obliged to give you a refund. Requesting a refund more You may request a refund more than eight weeks after the payment was debited to your payment account if you claim that you did not authorise the SDD, provided you inform us as soon as 7

8 than eight weeks after SDD collection you become aware of the circumstances within the 13 months of the SDD. We reserve the right to require evidence supporting your claim, as well as the right to turn down a tardy refund request. If you request and obtain a refund from us, that does not mean that you debt to your Creditor is extinguished. This is a question that you should directly deal with your Creditor We may refuse to carry out an SDD if: i. We reasonably suspect your SmartPay Account is being used in a fraudulent or grossly negligent manner; ii. iii. iv. The Available Funds are not sufficient to cover the amount of the SDD and any applicable fees; We believe that the SDD would be unlawful; or We believe that you have not validly authorised the SDD In case of refusal, we will inform you about the reasons as soon as possible, to the extent that we are not prohibited from doing so by law You may correct any information we hold which may have caused us to refuse an SDD by contacting Customer Service. 5.4 Instant Transfers Instant Transfers are only available if an Upgrade has been carried out, you have sufficient Available Funds and the applicable limits as set out in clause 17 are not breached Instant Transfers can be carried out between your SmartPay Account and another account held by Raphaels Bank in cooperation with Sogexia Instant Transfers allow you to carry out scriptural fund transfers at any time via the Online Portal, with immediate effect subject to force majeure or maintenance. 6. Using your Card 6.1 You may use the prepaid Card at any location in the world that displays the MasterCard acceptance mark, excluding limited acceptance Merchants in EU / EEA that do not accept prepaid cards and subject to Section 17 and the provisions below. 8

9 6.2 You may not be able to use your Card to set up a recurring payment or regular subscriptions, depending on the Merchant acceptance policy with regards to prepaid cards. 6.3 You will not be able to use your Card after its expiry date. 6.4 Certain spending, withdrawal or acceptance limits will apply to your Card (see clause 17). 6.5 The Available Funds are denominated in euros. If you are paying for goods and services in a different currency, the amount payable shall be converted at the MasterCard conversion rate at the time your Transaction is processed (see clause 17). The MasterCard conversion rate is displayed on the MasterCard s website. This rate may vary even throughout the day and is not set by us. It can fluctuate between the time when the Transaction is made and the time when it is settled and recorded into your SmartPay Account. In addition, a foreign currency fee will be charged to our benefit (see clause 17). 6.6 We will deduct the value of your Transactions from the Available Funds on your SmartPay Account as they are carried out. We will also deduct any applicable fees as soon as they become payable by you (see clause 17). 6.7 We reserve the right to suspend, restrict or cancel the use of your Card, or refuse to issue or replace a Card if: i. We are concerned about the security of your SmartPay Account or Card; ii. iii. iv. We reasonably suspect your SmartPay Account or Card is being used in a fraudulent or grossly negligent manner; You break an important term of this Agreement, or repeatedly break any term in this Agreement and following notice fail to resolve the matter in a timely manner; or if we need to do so to comply with the law. 6.8 If we take any of the steps referred to in Clause 6.7, we will tell you as soon as we can and are permitted to do so after we have taken such steps. We may ask you to stop using your Card and return it to us or destroy it. In such circumstance, we will issue you with a replacement Card if after further investigations we have a reasonable belief that the matter no longer falls within the scope of any of the circumstances described in clause As with all payment cards, we cannot guarantee a Merchant will accept your Card in any particular instance. Merchants should normally check that your Available Funds will cover the Transaction amount. 9

10 6.10 In some circumstances we, or a Merchant, may require you to have Available Funds in excess of the Transaction amount and any applicable fees. This is to ensure there are sufficient funds available to cover the final cost of the Transaction and to reduce the risk of a Shortfall. Examples include: (1) When the Card is used at certain Merchants including bars and restaurants, an additional amount (typically 10%-20%) can be automatically added as an anticipated tip, temporarily reducing the Available Funds; (2) When the Card is used to purchase fuel at an automated fuel pump, the SmartPay Account must have a minimum credit of typically which can go up to more than EUR 100. If your actual service charge is less than the amount initially debited, it may take up to 30 days from the date of the Transaction before the difference is credited back to your Account. Only the actual amount of the final bill agreed between you and the Merchant will be deducted from your Account. For further information, please refer to Customer Service or the FAQs available on the Website Hotel and Rental Cars: as Merchants may not be able to accurately predict how much your final bill will be, in some cases they may request an authorisation for funds greater than your Available Funds. This is called pre-authorisation. Internet Merchants: certain Merchant websites will, on registration or at checkout stage, send a request for payment authorisation to verify if funds are available. This will temporarily impact your Available Funds. Also please bear in mind that many websites will not deduct payment until goods are dispatched, so please be aware of this when checking your balance to make sure you always have sufficient Available Funds to cover your purchases Current Bank of India legislation prevents the provision of SmartPay Account and Card products to residents of India. 7. Additional Card Users 7.1 Each Additional Card User must be at least 18 years old and a French resident. 7.2 An Additional Card allows its holder to use the Available Funds via making purchases of goods and services via the Additional Card. An Additional Card User is not entitled to carry out Transactions other than purchasing goods and services via the Additional Card. 7.3 Before accepting an Additional Card User, we advise you to check the tax regime applicable to the right you will grant to use Available Funds, e.g. where offering access to your Available Funds to an Additional Card User goes beyond a mere gift proportionate to your financial means. We shall not carry out any checks or formalities or make any payments for you in this respect, should taxation arise as a result of your own choice to designate an Additional Card User. 7.4 You are solely responsible for any fees, Transactions, use or misuse of any Additional Card issued in relation to your Account. 7.5 The terms in this Agreement apply to all the Cards issued to you and connected to your Account. It is important that you make sure that each Additional Card User has 10

11 been made aware of the terms and has accepted them before using the Additional Card. 7.6 You agree to ensure that all Additional Card Users will comply with the terms of the Agreement that apply to them. 7.7 Each Additional Card User acknowledges that you will have access to the details of all Transactions made using the Cards. 7.8 Each Additional Card User must be duly identified prior to ordering any Additional Card from the Online Portal. This requires the submission of their full name, date of birth, phone number, address and residential address, as well as any supporting evidence we may require from time to time. The Issuer also reserves the right to inquire into the purpose of subscribing an Additional Card and to refuse to issue such card for reasons including the fight against money laundering or the financing of terrorism. 7.9 Additional Card Users are not allowed to load or reload the Account. Additional Card Users are not entitled to any redemption rights hereunder. Should they wish to cease to use their Additional Cards for good, they shall promptly return them to the Issuer or destroy them, and promptly inform you and the Issuer of the same. Should you wish them to cease to use their Additional Cards for good, which you are entitled to require, you should inform Customer Service and ensure the Additional Card(s) are returned to us or destroyed. 8. Transactions 8.1 You may ask us to carry out a single Transaction immediately or to carry out a series of Transactions relating to a set or an undetermined amount or involving set or undetermined dates. 8.2 Once you have given your consent to the carrying out of a Payment Order, your consent is deemed irrevocable. You consent is deemed given at a POS under the following circumstances: i. entering your PIN or providing another security code; ii. iii. iv. signing a sales voucher; providing the Card details and/or providing any other details as requested; waving or swiping the Card over a card reader; v. inserting a Card and entering your PIN to request a cash withdrawal at an ATM; or vi. making a request for a cash withdrawal at any bank counter or branch or at any Merchant providing this service. 11

12 8.3 A Transaction will also be regarded as authorised by you where you have performed the Transaction from the Online Portal using your Personalised Security Features or where you have set up a Direct Debit. 8.4 Authorisation for a Transaction may not be revoked by you after the time we have received it. However, any Transaction which is agreed by a Merchant to take place on a date later than the date it was authorised may be withdrawn if you give notice to the Merchant (providing a copy of the notice to us) as long as such notice was provided no later than the close of business on the Business Day before the Transaction was due to take place. 9 Statements 9.1 You can issue a statement covering the period of time of your choice at any time you wish by downloading the Transaction history from your Online Portal. 9.2 A Transaction statement will be put at your disposal once a month. At your request, we can send you this statement on a paper medium. 9.3 Corrections of Transactions as recorded in the statements may be made from time to time by us, in case of error. 10. Termination, Card expiry and cancellation 10.1 The Agreement is entered into for a period of time starting from the entry into force of the Agreement and ending; i. on the effective date of Termination by one of the Parties; ii. iii. six (6) years after the last Transaction on your SmartPay Account; in the event of your death You have the right to withdraw your consent to entering into the Agreement without having to give us any reason and without being charged for doing so, provided that you do so within fourteen (14) days after opening your SmartPay Account. You can do so by contacting Customer Service and confirming that you have destroyed any Card in your possession. You also have the right to terminate this Agreement after the 14- day cooling-off period at any time pursuant to clause If your SmartPay Account is cancelled or you have terminated your Agreement in accordance with this Section we will immediately block your SmartPay Account and any associated Card(s) so they cannot be used We may terminate this Agreement for any reason by giving you at least two (2) months' notice. You may terminate the Agreement without having to give any reason, with immediate effect subject to taking into account the outstanding Transactions and any applicable fees before carrying out a full refund of Available Funds left (if any). 12

13 10.5 We may terminate this Agreement immediately: i. if you break an important term of this Agreement, or repeatedly break any term in this Agreement and fail following notice to resolve the matter in a timely manner; ii. iii. if you act in a manner that is threatening or abusive to any of our staff or agents; or if you fail to pay fees or charges that you have incurred or fail to put right any Shortfall in due course We reserve the right to terminate your SmartPay Account and block any associated Card immediately if we reasonably believe they are being used, or have been used, by you to commit fraud or for other illegal purposes. If we do this, we will tell you if and as soon as we are legally permitted to do so If you have used your Card in the period of four (4) weeks before its expiry date we will send you an to inform you that a new replacement Card will be issued automatically to you (fees will apply according to clause 17). Tell us if you do not wish your Card to be renewed by contacting Customer Service If your Card has not been used in the four (4) weeks prior to its expiry date, you will be sent an asking whether you wish your Card to be replaced or not. If you request that we do this, you will be issued with a replacement Card (fee will apply according to clause 17) After (cooling-off) cancellation or termination of your Account, the amount of any Available Funds (if any such amount exists) will be returned to you once all outstanding Transactions and the payment of all relevant fees have been processed. 11. Keeping your SmartPay Account and Card(s) secure 11.1 In order to reduce the risk of fraud, you shall: i. never write down or record any Personalised Security Features or relevant personal information without disguising them; ii. destroy any written notification of your Personalised Security Features upon receipt and memorization; iii. avoid numbers and passwords which may be easy to guess such as birthdays and telephone numbers; iv. check carefully the details of the executed Transactions; and v. follow any reasonable security instructions we give you. 13

14 11.2 You shall ensure that the elements that keep the Transactions, the access to your SmartPay Account and the use of your Card safe are protected. You shall not share the components of the Personal Security Features or your PIN If you suspect your Online Portal has been compromised you must call Customer Service without undue delay If we suspect your SmartPay Account has been compromised we will only contact you in accordance with Clause You must have adequate anti-virus protection on your computer and smartphone and must take all reasonable precautions to prevent anyone else from accessing your SmartPay Account, including using Personalised Security Features relating to your computer or smartphone The above-mentioned security measures also apply to Additional Card Users. 12. Your liability 12.1 If you know or suspect that your PIN is known to an unauthorised person, or if you think a Transaction from your SmartPay Account has not been authorised or has been incorrectly executed, you must tell us without delay by contacting Customer Service. If you know or suspect your Card is lost or stolen, you must block your Card immediately from your Online Portal and tell us without delay by contacting Customer Service. If you know or suspect any of your SmartPay Account Personalised Security Features to be used by someone else, you must contact Customer Service immediately In case of unauthorised Transaction notified to us, we will immediately refund the amount of the unauthorised Transaction and, as the case may be, we will restore the balance of your SmartPay Account as if the unauthorised Transaction had not taken place Before you have informed us without delay of the loss, theft, misappropriation or other unauthorised use of one of your payment instruments or associated data, your maximum liability for any unauthorised Transactions is EUR 50 (or currency equivalent) unless you have acted fraudulently or with gross negligence, in which case you will be fully liable for any loss we or you suffer as a result of the use of the Card or Account. However, you are not liable for an unauthorised Transaction carried out without using the Personalised Security Features You are not liable for the unauthorised Transaction if your payment instrument has been forged and you were in possession of your payment instrument at the time of the Transaction You shall be liable for the losses incurred in relation to unauthorised Transactions if such losses are caused by a fraudulent activity on your part or if you have intentionally or with gross negligence failed to meet your obligations to (i) take all 14

15 reasonable steps to keep your Personalised Security Features safe, (ii) use payment instruments in compliance with the conditions governing their issuance and use or (iii) inform us without delay of the loss, theft, misappropriation or other unauthorised use of one of your payment instruments or associated data Provided you have not acted fraudulently, we will refund the amount of any Transactions which were not authorised by you and which arose after you notified us of the loss, theft, misappropriation or unauthorised use of your Card or Account Where necessary and pursuant to the terms of this Agreement, we reserve the right to investigate any Transactions at any time, and to charge you for any reasonable costs that we incur in taking action to stop you using your Card or SmartPay Account other than in accordance with this Agreement and to recover any monies owed as a result of such activity. 13. Our liability 13.1 Where a Payment Order is initiated by you, we shall be liable to you (Payer) for the correct execution of the payment transaction, until proper receipt of the transferred funds to Payee s payment service provider, except: i. In a case of force majeure iii. Where you provided us with an incorrect Unique Identifier for the payment (i.e. an incorrect IBAN) 13.2 Where we were liable to carry out a Transaction as properly instructed by you, we shall refund you the amount of the non-executed or defective payment Transaction and, where applicable, restore the debited payment account to the state in which in which it would have been before recording the Transaction in question Where we are liable to you as a Payer under clause 13.1 we shall immediately place the amount of the Transaction at the Payee s disposal and, where applicable, credit the corresponding amount to the Payee s payment account In the case of a defectively executed Transaction, we shall make immediate efforts to trace the Transaction and notify you of the outcome We shall be liable to you for all costs and interest to which you are subject as a consequence of any defective execution of a Transaction for which we are liable We will not be liable for any loss arising from: i. A Merchant refusing to accept your Card; ii. iii. iv. A Payee refusing to accept an SCT or an SDD; Any cause which results from circumstances beyond our reasonable control; Any system failure or industrial dispute outside our control; 15

16 v. Any unforeseeable action on your part; vi. vii. Legal, regulatory, administrative and judicial constraints; Any infringement by you of any currency laws; viii. Any additional fees charged by the operator of POS or ATM terminals (e.g. when you are offered dynamic currency conversion); ix. Our suspending, restricting or cancelling your Card or SmartPay Account or refusing to issue or replace your Card if (a) we suspect your Card or SmartPay Account is being used in an unauthorised or fraudulent manner, or (b) as a result of you breaking an important term or repeatedly breaking any term in this Agreement; x. The goods or services (or in connection with use of the goods or services) that you purchase with your Card or SmartPay Account; xi. Our compliance with any applicable laws; xii. Loss or corruption of data unless caused by our wilful default or gross negligence; or xiii. Anything specifically excluded or limited elsewhere in this Agreement From time to time, your ability to use your Card or SmartPay Account may be interrupted for maintenance reasons. The functionalities that may be potentially affected are: loading funds into your SmartPay Account; access to Online Portal; payments or cash withdrawals by Cards; the obtaining of information concerning the Available Funds or the carrying out of Transactions Where the Card is faulty, we will issue a new one to you Because the SmartPay Account is for private use only, we shall not be liable for any losses resulting from any other use Where You suffer from financial loss resulting from any of Our non-compliance related to the performance of Our requirements in regards to the outbound and inbound switching services as set out under Articles 17 and 18, We will refund You immediately to the extent of Your loss, outside any abnormal and unforeseeable circumstances beyond Our control or Our compliance duty with any statutory obligation. 14. Your right to redemption 14.1 You have the right to redeem the unspent SmartPay Account funds at any time. You can do so by sending your request to Customer Service, setting out the amount to be 16

17 redeemed. You have the right to make a request for partial or full redemption before the term stipulated in the Agreement, except in case of termination or if a redemption request is made within one year of the term of the Agreement. In such instance the redemption may only be in full We will charge you a Redemption Fee under any of the following circumstances: i. your redemption request predates the term stipulated in the Agreement; ii. you terminate the Agreement before its term; iii. your redemption request is made one year and one day after the term of the Agreement Funds will be returned in euros to Your personal bank account via SEPA Credit Transfer. Before we do so, we may need to verify your identity in order to satisfy applicable law and we reserve the right to withhold funds where we have a reasonable concern regarding fraud, money laundering or other security issues We will not redeem funds if your request is received by us at least 6 years after termination of your SmartPay Account. 15. Disputed Transactions 15.1 If you have any dispute(s) about purchases made using your Card or SmartPay Account, you should settle these with the relevant Merchant. We are not responsible for the quality, safety, legality or any other aspect of any goods or services purchased using your Card or SmartPay Account You may be entitled to claim a refund in relation to Transactions made using your Card or SmartPay Account where: i. A pre-authorised Transaction did not specify the exact amount at the time of its authorisation and the amount charged by a Merchant is more than you could reasonably have expected taking into account normal spending patterns on the Card or the circumstances of the Transaction. However, a claim for a refund in such circumstances will not be accepted if the amount of the Transaction was made known to you at least four (4) weeks before the Transaction date or if the claim is made more than eight (8) weeks after being debited to your SmartPay Account; or ii. We were notified without any delay of any Transaction under this Agreement within thirteen (13) months of the debit date of such Transaction If any of the above circumstances apply, you may wish to contact the Payee of the Transaction first as this may lead to a quicker resolution of the dispute, it being set out for the avoidance of doubt that reasonable time taken to contact the relevant Payee shall not be taken into account for the purposes of computing the time 17

18 limitation periods provided for in clause You can also ask us to investigate any Transaction or suspected misuse of your SmartPay Card or Account If we refund a disputed Transaction to your SmartPay Account and subsequently receive information that the Transaction was authorised by you, we shall deduct the amount of the disputed Transaction from the Available Funds. If there are insufficient Available Funds, then the provisions regarding Shortfalls shall apply. 16. Cross-border account switching service 16.1 Should You wish to switch Your Account to a payment account You have opened with another payment service provider located outside the United Kingdom, but within the European Union, by a date being six business days after We receive Your request, We will: i. Provide You with: a) A list of all currently active standing orders for credit transfers and debtor-driven direct debit mandates, where available; and b) Available information about recurring incoming credit transfers and creditor-driven direct debits executed on Your Account in the previous 13 months; ii. If You request it and assuming You provide Us with full details of the account opened with the EU payment service provider and there are no outstanding obligations on Your Account, transfer any Available Funds remaining on Your account to Your other payment account opened with the EU payment service provider; and iii. Close Your Account Where outstanding obligations prevent Us from closing Your Account, We will inform You without delay You must have Upgraded Your Account in order to be eligible for the cross-border account switching service. 17. Outbound account switching service 17.1 Should You wish to switch Your Account to a payment account You have opened with another payment service provider located within the United Kingdom and denominated in the same currency as Your Account, upon receipt of a switching request from the payment service provider, We will: i. Send the payment service provider within five business days a list of the existing standing orders for credit transfers and available information on direct debit mandates that are being switched, and available information about recurring incoming credit transfers and creditor-driven direct debits executed on Your Account during the previous 13 months; ii. Stop accepting incoming credit transfers and direct debits on Your Account with effect from the date specified in the authorisation You have signed with the payment service provider; iii. Cancel standing orders from the date specified in the authorisation You have signed with the payment service provider; 18

19 iv. Transfer any remaining Available Funds from Your Account to the payment account You have opened with the payment service provider on the date specified in the authorisation You have signed with them; v. Close Your Account on the date specified in the authorisation You have signed with the payment service provider if: a) You have no outstanding obligations on Your Account; and b) The actions described in paragraphs (i), (ii) and (iii) have been completed Where We stop accepting incoming credit transfers and direct debits in accordance with sub-paragraph (17.1)(ii), We will within five business days inform the payer or the payee of the reason for not completing the payment transaction Where any outstanding obligations on Your Account prevent closure of the Account pursuant to sub-paragraph (17.1)(v), We will immediately inform You that this is the case You must have Upgraded Your Account in order to be eligible for the outbound account switching service. 18. Inbound account switching service 18.1 Should You wish to switch to Your Account from a payment account denominated in the same currency as Your Account that You have opened with another payment service provider located within the United Kingdom ( Old Account ), We will: i. Request that You sign a form authorising Us to switch Your Old Account to Your Account and agree the date from which standing orders for credit transfers and direct debits are to be executed from Your Account, which must be at least six business days after the date on which We receive the documents transferred from the payment service provider holding Your Old Account; ii. Within two business days from receipt of the authorisation referred to in paragraph (i), We will request that the payment service provider holding Your Old Account carry out each of the following tasks, if provided in that authorisation: a) Provide Us with a list of the existing standing orders for credit transfers and available information on direct debit mandates that are being switched; b) Provide us with available information about recurring incoming credit transfers and creditor-driven direct debits executed on Your Old Account during the previous 13 months; c) Where the payment service provider holding Your Old Account does not provide a system for automated redirection of the incoming credit transfers and direct debits to Your Account, stop accepting direct debits and incoming credit transfers with effect from the date specified in the authorisation; d) Cancel standing orders with effect from the date specified in the authorisation; 19

20 e) Transfer any remaining positive balance to Your Account on the date specified by You; and f) Close Your Old Account on the date specified by You. iii. Within five business days of receipt of the information requested from the payment service provider holding Your Old Account in accordance with paragraph (ii), We will, if provided for in the authorisation and to the extent that the information provided by You and the payment service provider holding Your Old Account enables Us to do so, carry out the following tasks: a) Set up the standing orders for credit transfers requested by You and execute them with effect from the date specified in the authorisation; b) Make any necessary preparations to accept direct debits and accept them with effect from the date specified in the authorisation; c) Inform payers specified in the authorisation who make recurrent incoming credit transfers into Your Old Account of the details of Your Account and transmit to the payers a copy of Your authorisation; d) Where We do not have all the information We need to complete the task referred to in paragraph (c), ask You or the payment service provider holding Your Account to provide the missing information; e) Inform payees specified in the authorisation and using a direct debit to collect funds from Your Old Account of the details of Your Account and the date from which direct debits are to be collected from that Account and transmit to each payee a copy of Your authorisation; f) Where We do not have all the information We need to complete the task referred to in paragraph (e), ask You or the payment service provider holding Your Account to provide the missing information; iv. Where You choose to personally provide the information referred to in subparagraph (18.1)(iii)(d) or (f) to the payers or payees rather than to provide specific consent allowing Us to do so, We will provide You with standard letters providing details of: a) Your Account; and b) The starting date specified in the authorisation. within the deadline referred to in sub-paragraph (ii) You must have Upgraded Your Account in order to be eligible for the inbound account switching service. 19. Changes to this agreement 19.1 From time to time we may make you an offer to amend the Agreement and provide you with a change proposal (i) at least 2 months before the date on which we wish the proposed change to enter into force and (ii) via paper format or any other durable means. 20

21 19.2 As provided for by law, you will be deemed to have accepted all of the notified change(s) unless you tell us, by contacting Customer Service before the proposed date, that you do not agree to the change(s). In such circumstance, we will immediately terminate this Agreement and we will refund any Available Funds in accordance with clause 14 of the Agreement without charging you any fee for the termination and redemption. 20. Fees, limits and restrictions 20.1 Fees applicable to SmartPay Accounts and Cards including Additional Cards Nature Card issue and replacement Load by SEPA credit transfer Load by credit or debit card Fee Amount or basis for calculation Explanation (if necessary) 9.90 Also including Additional Cards 2% 2.5% Decline Card Transaction 0.25 Charged when the Transaction is declined by an ATM or by a Merchant as a Point of Sales Card ATM cash withdrawal 1.00 Card foreign exchange Transaction 2.95% Card ATM balance inquiry 0.25 Card PIN reminder 1.50 Also including Additional Cards Redemption Fee Only applicable in the cases provided for in clause 14.3 Charged monthly after a 9 month period of Inactivity Fee you not using your SmartPay Account or 3.00 [per month] Card for Transactions. To the extent of Available Funds Applicable limits in EUROS Available Funds Not Upgraded Upgraded Maximum amount loadable ,000 Maximum spend via the Card Per day and per Transaction 250 5,000 Per month 250 7,500 Per annum ,000 21

22 ATM withdrawals Maximum per withdrawal and per day Not available 650 Maximum per month Not available 2,000 SEPA Credit Transfer Maximum per credit transfer and per day Inbound Not available 5,000 Outbound Not available 5,000 SEPA Direct Debit Maximum per SDD and per day Not available 10,000 Instant Transfer Maximum per transfer and per day Not available 10,000 SmartPay Account load Minimum per load 0 0 Maximum per day 250 5,000 Maximum per month ,000 Maximum per annum ,000 Maximum per credit and debit card over a day 250 1,500 Maximum per credit and debit card over a month 250 3,000 Maximum daily load by SEPA SCT & Instant Transfer Not available 5,000 Maximum monthly load by SEPA SCT & Instant transfer Not available 20,000 Limits will apply to any additional loading methods made available from time to time, as published on the Online Portal The following restrictions will apply to the usage of your Card and/or any Additional Card(s): Type of restriction Not Upgraded Upgraded Car renting merchants Not allowed Allowed ATM withdrawals Not allowed Allowed 20.4 When you use your Card at an ATM (if applicable), you may also be subject to fees from the relevant ATM provider, or other financial institution or association In the fortuitous and exceptional case of a Shortfall, this Shortfall shall immediately be compensated for by you. Charges will be deducted in such a case and we reserve the right to suspend the provision of the services pursuant to the Agreement until the Shortfall is compensated for and the applicable charges are paid You are responsible for ensuring that you have sufficient Available Funds when you authorise a Transaction. 22

23 21. Communicating with you 21.1 We will communicate with you via our Website, the Online Portal, Customer Service and by . At your request, where the Agreement provides for such possibility, communication will take place on a paper medium or, as the case maybe, via another durable medium The language in which we will communicate is the French language, both in writing and orally You must let us know as soon as possible of any changes to the details we use to communicate with you. To communicate with you, we will use the most recent details that you have provided us with We shall not be liable for the damage caused by the fact that we have used details which are not up to date, provided that you have not notified us that such details have changed You may communicate with us regarding all issues relating to the performance of the Agreement by contacting Customer Service A special number, the Lost and Stolen Card Number, is available 24 hours a day for you to inform us of the loss or theft of any Card. 22. Confidentiality and Data protection 22.1 We owe you a general duty of confidentiality, subject however to statutory exceptions and to the possibility of waiving such duty by obtaining your express consent. Without any prejudice to the availability of any other statutory exceptions, you and any Additional Card User(s) fully understand and expressly agree that information falling within the scope of such duty may be provided by Raphaels Bank to Sogexia and to any other partner or subcontractor on the condition that they observe the same duty of confidentiality. In addition to the extent permitted by law you, as well as any Additional Card User, fully understand and expressly allow us to disclose confidential information to third parties in the following cases: i. When necessary to allow you to carry out a Transaction or meet our obligations pursuant to the Agreement; ii. At the request of a British or French judicial, administrative, tax, or police authority or any other authority capable of exercising its powers and enforcing sanctions against the Issuer or Sogexia; and iii. To our employees, account auditors, companies belonging to our group and legal advisors, as needed. 23