Amaiz Personal Account Terms & Conditions
Valid for all customers who joined Amaiz after 20 April 2021
1. About us and this Agreement
We are Amaiz Ltd (Amaiz), an electronic money (e-money) institution authorised by the Financial Conduct Authority (FCA) for the issuing of electronic money and payment instruments (FCA firm reference: 900857). We are registered in the United Kingdom with company number 10977384.
Please read and understand these terms. It is a condition of membership and use of the Account that you agree to these. Further information that may be useful is available at our FAQ.
The below are our personal Terms, if you hold a separate or additional Amaiz business account these Terms will not apply. You will need to read and adhere to our Business Terms.
These Terms are available at all times in our app. You can also download a copy for your reference here.
2. Opening your account
Before we open your Amaiz Account, we may need to carry out certain checks, including verifying your identity. You must provide us with any accurate information and/or documentation we request in order to comply with our legal and regulatory obligations. We may refresh these checks at any time during this agreement, in order to meet our regulatory obligations.
As part of this agreement, Amaiz may obtain specific payment services including collecting, holding, disbursing, or remitting funds domestically or internationally via CashDash UK Ltd (trading as Rapyd), a company incorporated in the UK (hereinafter referred to as “Rapyd”) and regulated as an Electronic Money Institution (EMI) by the Financial Conduct Authority (FCA).
On your behalf, Amaiz will provide up
You accept that these Terms constitute a legal, valid, and binding agreement between you and Rapyd within the framework of the contractual relationship between you and Amaiz.
This Agreement will be available at all times via the Amaiz App and our Website, but we also recommend that you download and retain a copy for your reference. If there is anything you do not understand, please don’t hesitate to contact our Customer Services using the contact details below:
Telephone: +44(0)020 3987 3173
In writing: Amaiz, Dawson House, Jewry Street, London EC3N 2EX
Nothing in this Agreement requires us to accept your application for an Amaiz Account and we can refuse your application at our sole discretion.
If you change your mind, you can cancel your Amaiz Account at any time.
3. About e-money
Your Amaiz account is a 'virtual' account that holds e-money - an electronic alternative to cash. Your e-money is stored in your account and can be used to purchase goods and make payments. The Amaiz card is a prepaid payment card, not a credit card, charge card or bank account debit card.
4. Account limits
Transaction limits may apply to your Amaiz account. These may be subject to change, please see the list of current transaction limits.
5. Using Third-party Providers
If you use a Third Party Provider (TPP) with your Amaiz Account, you may do so provided that your account is active. We advise that before using a TPP, you ensure that they are authorised by a Regulator to provide their services. In the UK, see the Financial Conduct Authority’s register.
If a TPP requests access to your Account to provide services using your Amaiz App credentials, we will ask you to explicitly confirm and verify this request in the app. When we seek your explicit consent for such access, we will make clear to you the purpose of the TPP’s request and service they provide so as to enable you to decide whether to allow the requested access. Please note, once you have approved this request, we are obliged to provide access to your Amaiz Account if it is requested by a TPP and can only refuse access in certain circumstances.
6. Applying For and Registering Your Amaiz Account
To apply for an Amaiz Account, you must be at least 18 years old and adhere to the Terms of this Agreement.
If you or your business are engaged in, or linked in any way to the following business trading activities then, at our discretion, we may request additional information and/or documentation or decline an Amaiz Account:
- Unlicensed banks and/or NBFIs;
- Other entities that provide banking services to unlicensed banks;
- Another Entity that provides services to shell banks;
- Section 311 designated entities;
- Unlicensed unregulated remittance agents, exchanges houses, casa de cambio, bureaux de change or money transfer agents;
- Non-account customers;
- Correspondent banks;
- Atomic Power;
- Environment/Corporate Social Responsibility;
- Non-Government Organisations;
- Virtual Currencies;
- Embassies/ Consulates;
- Payment Service Providers;
- Alcohol Retail and Wholesale;
- Arms and Defence;
- Art and Antiques;
- Car, boat and plane Brokers/ Dealers;
- Carbon Credits;
- Cash intensive business (restaurants, launderettes, taxi firms, bars etc);
- Casinos, betting shops and other gambling related businesses;
- Charities and not for profit organisations;
- Currency exchange (including virtual currencies) or money transfer (including Money Service Bureaus).
7. Adding funds to your account
You require your Account Details to add funds to your Amaiz account. This can be done through bank transfer, using a debit card or by depositing cash at a UK Post Office.
Fees may apply depending on how funds are added to your Account. We may not credit your Amaiz Account with a payment if:
- Your Account has reached the maximum balance or Account Limits;
- Your Amaiz Account is inactive, suspended or blocked;
- The sender has provided incorrect/invalid Account Details for your Account;
- We suspect fraudulent activity on your Account, or;
- to do so is prohibited by any law.
- The funds may be returned to the sender, without prior notice.
8. Making payments from your account
You can make a payment by entering the sort code and account number (or for international credentials) of the intended recipient.
9. Multi-currency transactions
You can use your Amaiz account for multi-currency transactions, our currency exchange rates are available in app and are subject to change. When making multi-currency transactions, applicable exchange rates will be confirmed at time of transaction.
If currency is returned to your account, this will revert to the original currency, which means the amount you receive may differ from the original amount. Amaiz will not be liable for any losses, if we have completed the transaction as requested.
10. Direct Debits
To set up a Direct Debit from your Amaiz Account, you must first authorise the organisation taking the Direct Debit payment.
If a Direct Debit specifies payment on a specified day or on the last day of a certain period, we will treat the Payment Instruction as being received on the day specified.
It is your responsibility to check there are sufficient funds in your Account Balance before any payment is due. If your Amaiz Account does not have sufficient funds, any Direct Debit payment will be rejected.
In the case of a Direct Debit, you can revoke a payment order at any time up to the end of the Working Day preceding the day agreed for debiting the funds. The revocation will be effective for all future Direct Debits for such payment order.
11. Payments made in error
It is your responsibility to ensure you provide the correct recipient account details and payment amount when making any payment or setting up a payee.
You are responsible if you give us incorrect instructions or mistakenly instruct us to make the same payment more than once, but we will try to help you get the money back. We may not always be able to do this, but we will do what we reasonably can. We may charge you a fee for tracing, recalling or cancelling a payment.
If we cannot get the money back, you can request the relevant information we have about the transaction to help you reclaim the money. We will provide this information on receiving a written request from you, unless the law prevents us from doing so.
If somebody makes an incorrect payment into your account, we can reverse the payment and if the sender requests further information we may be required to share your personal details, in accordance with data protection regulations.
12. Keeping your account safe
If you do not recognise a payment or think your account has been compromised you must inform us immediately (and no later than 13 months after the transaction). We will return the funds to your account unless:
- We have reason to believe that you have acted fraudulently,
- You have shared your details, such as login details or PIN number,
- You have acted recklessly, for example if you have written down your PIN or made your Amaiz card available to others.
- You have breached this Agreement,
- You have failed to notify us without undue delay or more than 13 months after the date of the transaction.
If an error is made in Direct Debit, you may be entitled to a refund from the payee or us under the Direct Debit Guarantee.
Regardless of liability, if you wish to make a request for information regarding the execution of a payment transaction, we will make reasonable efforts to trace the transaction and notify you of the outcome, free of charge.
13. Account Suspension
We can suspend or cancel your Amaiz Account or Amaiz Card at any time with immediate effect without any prior notice to, if required to do so to meet our legal obligations.
We will, where possible, notify you of this prior to suspension or as soon as is reasonably possible, unless law prevents us from doing so.
We may suspend your card or account if:
- We have reason to suspect that fraud has occured on your account,
- we suspect you have acted fraudulently,
- if we believe the information provided is incorrect or we require further information,
- we believe that you are in breach of this Agreement,
- to assist in law enforcement agencies investigations,
- we suspect you are involved in illegal activity,
- we are required to do so to meet our regulatory requirements.
Where possible, we will provide 60 days notice prior to suspending your account, however, if any of the above apply, if may not be possible to provide prior notice.
We may also suspend your account or for other reasons, at our sole discretion. Please see our FAQs on Account Suspension.
14. Blocking your Amaiz Card
- We may block or cancel your Amaiz Card if:we believe this is necessary for security reasons;
- we have reason to suspect unauthorised or fraudulent use of the Amaiz Card; or
- we are required to do so by legal or regulatory obligations.
In the event that we do cancel or block your Amaiz Card, we will, if appropriate, tell you prior to stopping or blocking and provide you with the reasons for doing so. If we are in the circumstances unable to give you such prior notice we will inform you as soon as reasonably possible. In addition, we may advise anyone involved in a transaction if a suspension has taken place.
15. Account Closure
You may close your Amaiz Account and/or cancel any Amaiz Card at any time by contacting our Customer Services.
Your Amaiz Account will be closed and your Amaiz Card will be deactivated by us in the event of termination of this Agreement.
We may close your account, without prior notice if we are required to do so by law.
16. Changes to the Terms & Conditions, Product and Service
We may change these Terms & Conditions, including fees, at any time. 2 months notice will be supplied prior to any change. If you do not agree with the changes to the Agreement, you may at any time within the two months’ notice period terminate your Agreement and close your Amaiz Account at that time without a charge. However, in the event you do not cancel during this period then you will be deemed to have accepted them.
Where we introduce a new product or service that will improve our service we may do so without prior notice.
We hope that you never feel the need to complain, however, we do understand that sometimes things do go wrong and we will do our best to rectify this.
If you wish to complain please contact us via telephone: 0808 164 6641, Live Chat or email us at email@example.com.
If you are unhappy with the outcome of your complaint you can contact the Financial Ombudsman Service:
(Exchange Tower, London E14 9SR, phone 0800 023 4567 when calling from UK and +44 20 7964 0500 when calling from abroad).
Details of the service offered by the Financial Ombudsman Service are available at www.financial-ombudsman.org.uk.
You can also submit a complaint to the FCA, our Regulator, or try to invoke an alternative dispute resolution procedure by visiting the ODR Platform at http://ec.europa.eu/odr.
18. Privacy and Data Protection
To make a payment we may transfer your personal data and other information to any payment service provider used to complete your Payment Instruction.
We may also transfer your information outside of the UK and the EEA to enable you to use your Amaiz Card while they are travelling or as permitted by law.
If you allow or give consent to an Authorised Third Party Provider to access your Amaiz Account to provide their services to you, we have no control over how an Authorised Third Party Provider will use your information nor will we be liable for any loss of information.
19. Intellectual Property
Amaiz owns the Intellectual Property, such as the logo and content of the app. This must not be copied or reproduced in any way.
We may also use third party Intellectual Property, which must also not be reproduced or used as your own.
“Account Information Services” – An online service which provides consolidated information on accounts held by you with one or more payment service providers such as banks.
“Account Information Services Provider” – A third party payment service provider which is authorised by its Regulator to provide Account Information Services to you with your explicit consent and under a separate agreement which you have signed with them.
“Agreement” - This agreement, as varied from time to time.
“Amaiz” – Amaiz Limited, a company registered in England and Wales with number 10977384 who can be contacted at Dawson House, 5 Jewry St, London EC3N 2EX.
“Amaiz Account” - The electronic account in pounds sterling which may have an Amaiz Card linked to it.
“Amaiz Account Details” – Any details related to an Amaiz Account, including but not limited to, Sort Code and Account Number.
“Amaiz Account Holder” – The entity legally responsible for an Amaiz Account and entering into this Agreement with us.
“Amaiz Account Limits” – Maximum limits in relation to the Amaiz Account, such as Amaiz Account - Maximum Balance, and topping up limits as shown in paragraph 2.
“Amaiz Account Maximum Balance” – The maximum balance you can have on your Amaiz Account as referred to in paragraph 2.
“Amaiz App” – A mobile device App that allows you to have access to your Amaiz Account which is provided to you by Amaiz.
“Amaiz Card” – Any Amaiz Prepaid Card operated by Visa, Mastercard or any other card operator, associated with your Amaiz Account.
“Amaiz Web App” – an online portal available at bank.amaiz.com that allows you to access the Amaiz Account.
“ATM” - Automated Teller Machine, otherwise known as a cash machine.
“Authorised Individual” – An individual, who is both 100% ultimate beneficial owner and director of the limited company, who operates and manages the Amaiz Account on behalf of the limited company. “Authorised Third Party Provider” – Account Information Service Provider and/or Payment Initiation Service Provider.
“Available Balance” - The value of pre-paid funds available on your Amaiz Account to use.
“BACS Credit” – UK BACS Direct Credit that enables a payment to be made into an account which normally takes 3 Working Days for the funds to be cleared.
“Card” - Card operated by Visa, Mastercard or any other card operator.
“Cardholder” – An Amaiz Account Holder to whom an Amaiz Card is issued.
“Contactless” - A payment feature that enables you to pay by tapping the Amaiz Card on a point-of-sale terminal reader for transactions of up to £30 (limit may vary from country to country and amended from time to time).
“Customer Services” - The team responsible for supporting queries relating to your Amaiz Account. Contact details for Customer Services can be found in paragraph 30.
“Direct Debit” – A service allowing a third party to collect pre-authorised funds from your Amaiz Account electronically on agreed dates, for example to pay bills.
“EEA” - The European Economic Area, which currently includes all countries in the European Union together with Iceland, Norway and Liechtenstein.
“e-money” – the electronic money associated with your Amaiz Account.
“Faster Payment” – A service allowing you to make and receive electronic payments in the UK using your Amaiz Account which is received by the recipient bank within 2 hours provided that the receiving organisation or bank is part of the UK Faster Payments Scheme.
“Full Deductible Amount” - The full transaction amount, including the transaction itself along with any associated fees, charges and taxes.
“Jar sub-account” – an additional account that allows you to set some money aside for any goal, like tax, new equipment or just an emergency fund.
“Limited Company” - means a Limited Company, Limited Liability Company, Limited Liability Partnership, trusts, not-for-profit or government agencies incorporated in the UK.
“Merchant” - A retailer, or any other person, firm or corporation that accepts cards.
“Payment Details” – The details you provide to enable funds to be received into your Amaiz Account or the details that you provide in order to send funds from your Amaiz Account.
“Payment Initiation Services” – An online service which accesses your Amaiz Account to initiate the transfer of funds on your behalf.
“Payment Initiation Service Provider” – A third party payment service provider which is authorised by its Regulator to provide Payment Initiation Services to you with your explicit consent and under a separate agreement which you have signed with them.
“Payment Instruction” – An instruction from you to make a payment from your Amaiz Account.
“PIN” - Your four digit personal identification number for use with the Amaiz Card.
“Quasi Cash” – Transactions that includes, but not limited to, purchasing travellers cheque, lottery tickets, casino gaming chips, money orders, deposits and wire transfer money orders.
“Regulator” – Financial Conduct Authority in the UK or another financial services regulator
“SEPA” -The single euro payments area (SEPA) is a system for processing electronic payments across Europe..
“Unincorporated Sole Trader” - In respect of your business (meaning you are not in partnership with any other person, whether natural or legal, in relation to your business) and not own, manage or run your business through a separately incorporated legal entity and your business is established in the UK.
“Unique Identifier” - The name, account number and sort code of the person you wish to pay.
“we”, “us” or “our” - Amaiz Ltd.
“Website” – www.amaiz.com.
“Working Day” – Monday to Friday but does not include bank or public holidays in England.
“you”, “your” - The Amaiz Account Holder.