Credit Card Agreement regulated by the Consumer Credit Act 1974

In this Agreement some expressions (e.g., ‘Account’) have specific meanings given to them. Unless they are explained when they are first used, those meanings are set out in clause B.30 - Definitions.

This credit card agreement is made between you and us.

We are Koto Card Limited (trading as ‘The Credit Thing’) (‘us’, ‘we’, ‘our’)

Our address is Nightingale House, 46-48 East Street, Epsom, Surrey, England, KT17 1HQ

and

You: the person signing this Agreement whose name and address are stated in your application (‘you’, ‘your’).

The credit intermediary involved in your entry into this Agreement is [XXXXXXXXXX] [trading as XXXXXXXXXXXXXXXXX] whose address is [XXXXXXXXXXXXXXXXX].

This Agreement is made up of the Key Terms (Part A) and the Further Terms including the Definitions (Part B).

A - KEY TERMS

A.1 How long this Agreement lasts

The Agreement has no fixed end date and will last until it is ended by you or by us under clause B.8.

A.2 Your Credit Limit

Your Credit Limit is the maximum amount you may owe us under this Agreement.

The amount you owe is the amount of transactions you and any additional cardholder on your Account have carried out and the interest and fees we have added to your Account balance less the repayments you have made.

You should not let the amount you owe us go over your Credit Limit. If you do, you must repay us the extra immediately.

We will set your Credit Limit according to your circumstances and will tell you what it is when we open your Account. From time to time we may make changes to your Credit Limit and will notify you of this (see Section B.3 below for more information on this).

A.3 How and when we provide you with credit

You must have an e-money account in order to obtain credit under this Agreement. Your e-money account is opened under a separate agreement with PrePay Technologies Limited. We issue you with a Card associated with your e-money account.

We provide credit to you by letting you use your Card and/or your security details to carry out purchase transactions, cash transactions and balance transfers including using another service provider to make an online payment on your behalf. The transactions that you can carry out under this Agreement are described in more detail at Section B.10 below.

Where the e-money balance on your Account is insufficient to finance a transaction you wish to make we will assume you wish to use the credit available under this Agreement.

If you ask us to and we agree, we may issue a Card to an additional cardholder who will be able to use their Card and/or security details to carry out the same kind of transactions which will be charged to your Account.

Any physical Card we issue to you or an additional cardholder under this Agreement remains our property. You and any additional cardholder should not use it for any illegal purpose.

A.4 Daily cash limit

Your daily cash limit is the maximum amount you and any additional cardholder can withdraw in cash advances each day. The limit on the amount you can withdraw in cash from an ATM is £500 per day, subject to credit being available on your Account. This limit is set by PrePay Technologies Limited under your e-money agreement with them and applies to the total of e-money and credit withdrawals you seek to make in a day. The daily cash limit may be changed by them.

Depending on how you manage your Account, we may restrict the amount of your Credit Limit you can draw down in cash and also limit the number of times in each day you can withdraw cash from your Account. For more information on when we may do this please see Section B.22.1 below.

We will notify you of any changes to these limits.

A.5 Interest rates

We charge interest on the different types of transactions you or an additional cardholder can carry out on your Account:

the purchase rate will apply to purchase transactions and any default fees payable;

the cash rate will apply to cash advances and any fees and transaction charges payable on them and any cash transfers;

the balance transfer rate will apply to balance transfers and any balance transfer fees and balance transfer charges payable on them.

You may be eligible for an introductory offer. If you are, we will tell you the introductory interest rates that apply to each transaction type during the introductory period, the length of the introductory period and any qualifying conditions and charges that may apply.

When the introductory period ends the introductory interest rates will cease to apply and our standard interest rates will apply unless, as a concession, we allow you to pay interest on any part of your balance at a lower rate.

The interest rates we charge you are variable. The grounds on which we can vary those interest rates are set out in Section B.22.2 of this Agreement.

You will lose any introductory rate if:

(i) you miss making at least the minimum payment due on your Account by the due date; or

(ii) you go over your Credit Limit for a period of more than five days.

We will then charge interest at our standard rates. The table below shows both the effective annual interest rates and the equivalent monthly interest rate. The effective annual interest rate gives a truer picture of the cost of the credit made available to you under this Agreement.

A.6 Annual Percentage Rate (APR) and Total Amount Payable

The APR applicable to your Account will depend on your circumstances. APRs for purchases range from 27.9% (variable) to 59.9% (variable).

The APR is to help you compare the cost of your credit card with those available from other lenders at the date of this Agreement. We have used the following assumptions to calculate the APR and the Total Amount Payable:

• you use the whole of a £1200 credit limit in making a purchase in sterling in the UK at the ‎date of this Agreement;
• the amount you have spent is repaid in full by twelve equal monthly instalments with interest charged on the balance owing each month at the interest rate for purchases;
• there is no change in the purchase interest rate; and
• both you and we keep to the terms of this Agreement.

On these assumptions the APR and the corresponding total amount payable are:

When this Agreement is made between us, we do not know how much you will end up paying. This depends on the value and type of transactions you make with the Card, how quickly you repay what you owe us and whether we change our interest rates, any charges we make and other terms of this Agreement like how we calculate the minimum monthly payment.

A.7 Making payments to us under this Agreement - how much and when

A.7.1 Monthly Statements

We will provide you with a Statement each month in which there has been activity on your Account or there is a balance owing at the Statement date. We will provide you with your Statement as an attachment to a message sent to the latest email address you have given us or make it available in the account servicing section of the App. We will tell you when your Statement is ready to view.

It will show the balance owing on your Account, the transactions on your e-money account and on your Account, including any interest and fees charged and details of payments and any refunds credited to your Account during the period covered by it. It will also show you the payments due in respect of any Instalment Plans on your Account, the minimum payment on your main balance you must make and the date by which you must make your payments, the payment due date.

Your Statement will also show an estimate of the interest that will be charged on your Statement for the next month. You should always keep sufficient credit available on your Account for that interest and for any transactions you make or you authorise and any fees and charges payable by you, which will be added to your Account and shown on your next Statement and which when added will not cause you to go over your Credit Limit.

You should review your Statement. If you think anything shown in it is incorrect or you suspect any fraudulent activity on your Account, you should tell us immediately using the contact details given in Section B.29.2.

A.7.2 Minimum Payments

The general rule is that your monthly Minimum Payment will be whichever is the greater of:

(i) the total of

1. any interest accrued since the date of your last Statement;
2. any transaction charges and default fees we have charged since the date of your last Statement;
3. 1% of the balance shown on your Statement before interest is applied; or

(ii) £10.

If the main balance shown on your Statement is less than £10, then the minimum payment you will be asked to make will be equal to the main balance.

If you have any Instalment Plans on your account, your minimum payment will be increased by the sum of the monthly instalments due for that month. The amount payable in respect of any Instalment Plans on your account will be shown on your Statement.

We can change the calculation of the minimum payment. For more information about when we might do this please see Section B.22.3 below.

If in any month you fail to make the full minimum payment due, the amount left unpaid will remain repayable immediately.

If you have:

1. missed or not paid in full any minimum payment due on your account in respect of a previous month; and/or
2. exceeded your Credit Limit

and that underpayment and/or the amount by which you have exceeded the Credit Limit remains unpaid as at the date of your Statement, these sums will be added to and form part of the minimum payment you have to pay and will be shown on that Statement.

You must pay us at least the minimum payment amount by the payment due date each month.

You may always pay more than the minimum payment amount and we recommend you do this as this will help clear your account balance faster, reducing the amount of interest you would otherwise pay.

A.7.3 Payment due date

The payment due date is the latest day in each month by which your payment must reach us. Generally, this will be not less than 25 days after your statement date. If your payment is received after the payment due date, you will be in breach of this Agreement and a late payment fee will be charged. You may also lose the benefit of any introductory rate. See Section A.5 above for more information.

Unless we agree otherwise, all payments to us must be made in pounds sterling (GBP) from your e-money balance on your e-money account.

A.7.4 What fees do we charge?

We charge default fees and servicing fees. Default fees are payable where you break this Agreement. Servicing fees are payable in respect of providing you with services in connection with your Account. Details of the default fees and when we charge them are set out in Table 2. Table 3 sets out details of the servicing fees and when we charge them.

We charge interest on default fees. The interest rate we apply to the default fees set out in Table 2 is the purchase interest rate and the interest rate we apply to the servicing fees set out in Table 3 is the cash interest rate.

We may review the default fees and servicing fees we charge from time to time and change them. See Section B.22.4 for more information on when we may do this.

* Where made in a foreign currency, the value of transactions will be converted into sterling by the card scheme (currently Mastercard) at their exchange rate on the day the transaction is settled. You can find their exchange rates at:

https://www.mastercard.co.uk/en-gb/consumers/get-support/convert-currency.html.

We do not add any additional mark up to the exchange rate.

A.8 Your right to withdraw from this Agreement

You have the right to withdraw from this Agreement without having to give us any reason within the period of 14 days starting on the day after the day:

1. you receive a copy of the Agreement as made; or
2. we tell you that the Agreement has been made in the same terms as the unsigned copy of the Agreement we provided to you earlier.

If you want to withdraw from this Agreement you must tell us:

• through the App; or
• by sending an email to support@thecreditthing.com; or
• by calling us on 0800 917 6177 or 020 3901 3517; or
• by writing to us at Nightingale House, 46-48 East Street, Epsom, Surrey, KT17 1HQ.

If you withdraw from this Agreement you will have to repay any credit you have used together with interest from the date when we provided the credit until the date you repay it. You must repay the credit and interest without delay but no later than 30 days after you tell us you want to withdraw from this Agreement. If you ask us we will tell you without delay how much interest is payable per day.

A.9 Claims for unsatisfactory goods or services bought with your Card

If you use your Card or security details to buy goods or services and costing between £100 and £30,000 for a single item, you may have a claim against us as well as the supplier if the goods or services were misrepresented, are unsatisfactory or the goods were not delivered or the services carried out.

Please note that you can only have a claim against us if you use your Card or security details to pay for the goods or services directly. You will not have a claim against us if, for example, you paid for them with cash that was withdrawn using your Card or with money that was transferred to your Bank Account.

B - FURTHER TERMS

B.10 What kinds of transactions can you carry out with your Card?

The kinds of transactions you and any additional cardholder can carry out with your Card are set out below:

B.10.1 Purchase Transactions

These include paying for goods or services with your Card or by using your Card number and security details, for example, in a shop, restaurant or online. Payment for purchases may also be made through other service providers, such as PISPs and electronic money institutions (such as ApplePay and Google Pay).

Purchases can be made through making single payments to a retailer selling goods and services or by giving permission to the retailer to take regular payments from your Account such as a subscription (a ‘continuous payment authority’). You or an additional cardholder can ask us to cancel any continuous payment authority for which you or an additional cardholder have given permission.

B.10.2 Cash Transactions

Cash transactions are made when you obtain cash or make a cash related payment using your Card. These are:

• withdrawing cash in the U.K. or elsewhere in any currency from a cash machine or from a financial institution;
• buying foreign currency or traveller’s cheques;
• money transfers where you ask us to transfer funds from your Account using the Faster Payments service; and
• other transactions which allow you to draw down credit on your Account as cash.

Details of the transaction charges we apply in respect of cash transactions are set out in Table 3 in Section A.7.4 of this Agreement.

B.10.3 Using your Card for foreign currency transactions

If you use your Card to make purchases in a foreign currency, withdraw foreign currency in cash, buy foreign currency or buy traveller’s cheques denominated in a foreign currency, the card scheme, currently Mastercard, will convert all transactions and refunds from a foreign currency to pounds sterling at their exchange rate on the day the transaction is settled. You can find their exchange rates at https://www.mastercard.co.uk/en-gb/consumers/get-support/convert-currency.html. The exchange rate used will appear on your Statement. We do not add any additional mark-up to the exchange rate. However, we may charge a transaction charge for foreign currency transactions as set out in Table 3 in Section A.7.4 of this Agreement.

B.10.4 Balance Transfers

These are special transactions which are used to pay-off in full or in part balances you owe on a credit card account or loan with another credit provider. We may place limits on the amount of any balance transfer you ask us to make. We will tell you about any other restrictions that will apply before you confirm to us you want to make the balance transfer.

B.11 Interest charging

B.11.1 Introductory Rates

We will generally charge interest at the relevant standard rate.

If we make an introductory offer, introductory rates will apply instead of our standard rates during the introductory period provided you still qualify for an introductory offer. If you cease to qualify for an introductory rate, we will charge interest at our standard rates. Some of the possible reasons for withdrawal of the introductory rates are set out in Section A.5 above.

The restrictions on changing interest rates set out in Section B.22.2 will not apply in this case.

B.11.2

The general rules under which we charge interest are:

• when you or an additional cardholder carry out a transaction or we charge a fee, we accrue interest on the amount of the transaction or the fee from the date it is added to your Account until it has been repaid in full;
• the interest to be accrued is calculated at the end of each day;
• the interest to be accrued for each day is calculated on the highest amount of credit standing on your Account during that day and is rounded to the nearest penny;
• interest that has accrued during each month is added to your Account at the start of the first day of the following month.

Once it has been added to your Account, interest forms part of your Account balance. This means that for as long as interest remains unpaid by you, we will charge interest on it.  This is known as compound interest.

There are some exceptions to the general rules:

First, where your Account is in a Grace Period different rules around the adding of interest to your Account apply. Your Account will be in a Grace Period where:

1. in any month you have paid off the whole balance on your Account by the payment due date shown on your Statement for that month, so that following that payment you are no longer using any of the credit available to you under your Credit Limit; or
2. in the preceding month your Account was in a Grace Period and you pay off the whole of the your balance shown on your Statement for that preceding month by the payment due date shown on that Statement; or
3. at the commencement of a month you are not using any of the credit available to you under your Credit Limit.

When your Account is in a Grace Period interest that has accrued up until the date of your last Statement and which has not yet been charged to your Account will be waived by us.

Second, we will not charge interest on default fees added to your Account for the first 28 days after we gave you notice that you have to pay the fee. After that, we will charge simple interest only on the fee until it has been paid in full by you. This means you will not pay interest on the interest we have charged on a default fee.

If you fail to make your minimum payment by the payment due date or miss making it altogether, we will continue to charge interest at the relevant interest rates. A late payment fee will also be payable by you. Details of the fee can be found in Table 2 in Section A.7.4.

Please note: Our standard interest rates do not apply to any part of your balance which you are repaying under an instalment plan. We will tell you what interest rate will apply to each instalment plan before it takes effect. Further information about instalment plans is set out in Section B.20 below.

B.12 Issuing a card to you and to an additional cardholder

When you open your e-money account under your agreement with PrePay Technologies Limited, we will provide you with a virtual Card and a personal identification number (“PIN”) through the App.

If you ask us to issue you with a physical or ‘plastic’ Card for use on your Account and we agree, we will charge you a fee of £5.

B.12.1

If you ask us to and we agree, we may also issue a Card and PIN to an additional cardholder

for use on your Account.

If we do this, the following terms will apply:

1. You will have to give us the additional cardholder’s details. You should only do this afteryou get their agreement to it. You must make sure that they are at least 18 years old and resident in the United Kingdom.
2. You must make sure that the additional cardholder uses their Card in accordance with this Agreement, such as their not exceeding the Credit Limit on your Account.
3. We are unable to control the additional cardholder’s use of the Card issued to them or their security details. You will be responsible for repaying the amount of transactions carried out by an additional cardholder together with any interest and fees we charge on them. However, we will not hold you responsible for a transaction which it would have been reasonable for you to expect that we would refuse to carry out under Section B.16.1(i) or (ii) or under Section B.16.2 (i) or (ii) of this Agreement.
4. You can ask us at any time to cancel an additional cardholder’s Card but you will remain responsible for its use until any physical Card issued by us is returned to us or we have asked you to destroy it and you have done so.
5. This Agreement is between us and you. The additional cardholder has no right to enforce any term of this agreement under the Contracts (Rights of Third Parties) Act 1999. We will not provide the additional cardholder with information about your Account.

B.12.2

Each Card we issue may only be used by the person whose name is on it. The Card can only be used between the “valid from” and “expires end” dates shown on the Card.

B.13 Authorising transactions, disputes and refunds

B.13.1 Authorising a transaction

We will only charge a transaction to your Account if you or an additional cardholder have authorised the transaction, either directly or through a PISP or an electronic money institution. You or the additional cardholder will be told what you need to do to authorise the transaction.

B.13.1.1 Purchase transactions

Purchase transactions may be authorised by you by:

1. using the Card or security details or both - examples of this are inserting the Card into a card reader and entering the PIN or using the Card details to make a purchase online or by telephone;
2. holding a contactless Card in front of a contactless card reader;
3. providing a merchant or retailer with the Card details and giving them permission to take regular payments from your Account (under a continuous payment authority).

B.13.1.2 Cash transactions

Cash transactions may be authorised by you by:

1. inserting the Card into a cash machine and entering the PIN;
2. using the Card or security details or both to buy foreign currency or buy digital currencies; and
3. a money transfer may be authorised by you telling us the amount to be transferred and supplying us with the details of the account to which the transfer is to be made (which may be your Bank Account) and your security details.

B.13.1.3 Balance transfers

A balance transfer may be authorised by you telling us the amount to be transferred (the amount owing on another credit card account which you or an additional cardholder want to transfer to your Account) and providing us with the details of the transfer proposed to be made and your security details.

You are not able to transfer a balance from another account held with us.

B.13.1.4 Other authorisation methods

Transactions may also be authorised by you:

1. in the App;
2. with ApplePay or Google Pay or any similar payment application software which is linked to your Account;
3. by using any new payment technology which has become available and which is linked to your Account (e.g., the use of biometric data such as a fingerprint or iris scan).

B.13.2 Transactions authorised through a PISP

Where a transaction has been authorised through a PISP:

(a) after we receive instructions from the PISP to carry out the transaction, we will provide or make available to the PISP all information on the initiation of the transaction and all information to which we have access regarding the carrying out of the transaction;

(b) we will treat the instruction in the same way as an instruction received directly from you, unless we have objective reasons for treating it differently;

(c) we may deny the PISP access to your Account on reasonably justified and duly evidenced grounds relating to unauthorised or fraudulent access to your account by the PISP. We will tell you about any denial of access to the PISP using any of the contact details we hold for you and if possible we will tell you before we deny access or immediately afterwards we have denied access unless it would compromise reasonably justified security measures or would be unlawful.

If you think that a payment made through a PISP was not authorised or was incorrect, you must tell us as soon as possible.

B.13.3 Money transfers to another bank account

We may need to transfer money to a bank account in order to carry out our obligations under this Agreement. This will be where:

(a) you authorise us to make a money transfer to your Bank Account or another personal bank account (other than one held with us); or

(b) you or an additional cardholder authorise us to make a balance transfer where we will need to transfer money to another credit card provider to reduce or pay off the amount owed to them.

To allow us to make the payment you or the additional cardholder must provide us with the sort code, account number and account name of the account to which you want the money transferred and tell us the date when you want the transfer to be made. The general rule is that the money will arrive no later than the next business day after we receive that information. There are exceptions to this:

• if you do not provide us with that information before 5 p.m. on a business day or provide that information on a day that is not a business day, then we may treat that information as having been received on the next business day. If we do, this may delay the money arriving in the account to which it is to be sent, which may be the next business day after the day on which we regard the information as having been received by us; and
• if you have told us the transfer is to be made on a later day, the money will arrive on that day unless it is not a business day in which case it will arrive on the next business day.

If you or the additional cardholder give us payment details which are incorrect (for example, the wrong sort code or account number), we will not be responsible if the money does not reach its intended destination. If this happens, we are not obliged to give you a refund but we will make reasonable efforts to recover the money and we may charge you for the reasonable costs we incur in doing this.

If the payment instruction came from a PISP, we will refund the amount of the transaction to you if it was not carried out or was carried out incorrectly and we will put your Account back in the position it would have been in had the amount refunded never been charged to your Account. This would include refunding any interest or fees we may have charged as a result.

B.13.4 Cancelling an authorised transaction

If you or an additional cardholder have authorised a transaction which is due to be carried out at a future date (such as where you have given a retailer a continuing payment authority to take regular payments from your Account), you can cancel the transaction by contacting us no later than 5 p.m. on the business day before the transaction is due to be carried out. If the transaction involves a third party e.g., a retailer, you should tell them before the transaction is due to be carried out that you have cancelled it.

You will not be able to cancel any other transaction after you or an additional cardholder have authorised it. Examples of such transactions are cash withdrawals or where goods have been supplied at the time of payment.

B.13.5 Refunds for authorised transactions

If you or an additional cardholder have authorised a money transfer or a balance transfer and the payment details you have given us to make the transfer are correct:

1. we will promptly refund the money if we cannot prove it arrived on time;
2. we will put your Account back in the position it would have been in had the amount refunded never been charged to your Account (including refunding any interest or fees we may have charged as a result); and
3. if you ask us to, we will make immediate efforts to trace the money and will notify you of the outcome.

We will refund the full amount of the transaction you or an additional cardholder have authorised where all the conditions set out in (a) to (d) below are met in full:

(a) when you authorised the transaction the exact amount was not known (for example, you authorised a hotel to take from your account whatever you spent during your stay);

(b) the amount actually paid was more than you could reasonably have expected to spend in the circumstances having regard to your previous spending patterns (but disregarding exchange rate changes);

(c) the transaction was being made in either sterling or euros and the person receiving the payment was using a payment scheme operating in or a bank or other institution located in the United Kingdom or the European Economic Area (the European Union, Iceland, Liechtenstein and Norway) to provide them with payment services; and

(d) you ask us for a refund within eight weeks of the payment being taken from your account.

You must provide us with any information we reasonably need to check whether the conditions in (a) and (b) have been met and you are entitled to the refund. Any refund to which you are entitled will be provided within 10 business days of you requesting it or if we ask you for information, within 10 business days of our receiving that information.

B.14 Keeping your Card and security details safe

You must take all reasonable precautions to keep your Card and security details safe. You must ensure that any additional cardholder takes the same precautions to keep their Card and security details safe. These include:

(a) where you have requested and we have agreed to issue you with a physical Card, signing that Card as soon as it is received;

(b) keeping the Card secure;

(c) memorising the PIN and any passcode and keeping them secret and not writing them down or recording them in such a way that they might be recognised as a PIN;

(d) not changing the PIN to one that is obvious;

(e) not keeping any note of your PIN in the same place as your physical Card;

(f) not allowing anyone else to use your Card;

(g) not allowing anyone else to use the App registered to your Account;

(h) not allowing anyone else access to other mobile apps or technologies which have been authorised by you to initiate transactions on your Account;

(i) maintaining a PIN or other strong security measures on the App and any other mobile apps or technologies which have been authorised by you to initiate transactions on your Account;

(j) not allowing anyone else to use your security details apart from an AISP or a PISP and then only to the extent needed to enable them to provide the services they have agreed to supply to you.

We will not call and ask you for your passwords or full security details. If we do call you or you call us, we will first ask you security questions associated with your account to confirm that we are talking to you.

B.15 Lost, stolen or misused Cards or security details

You must tell us tell us immediately if you know or suspect your or an additional cardholder’s Card and/or security details have been lost or stolen or you think that your Account and/or its security has been compromised including where you suspect or know that someone has access to your card details, your PIN and/or your login details to access the App or any other account details or someone has carried out an unauthorised transaction on your Account or they may try to do so. You should call us IMMEDIATELY on 0800 917 6177 or on 020 3901 3517 if you are calling from outside the United Kingdom.

You will need to tell us all the information you have about the loss, theft or misuse of your or an additional cardholder’s Card or your Account. We may share this information with the police. We may put a stop on the Cards associated with your Account and you and any additional cardholder will not be able to use them. If we ask you to, you must destroy all physical Cards issued for use on your Account immediately. If you report your physical Card or any physical Card issued to an additional cardholder as lost and then it is found, you or the additional cardholder will not be able to use it.

Until you report the theft, loss or suspected misuse of your Card or Security Details you will be responsible for all losses caused by the misuse of your Card or Account by someone who got possession of it or your Security Details with your consent.

If we become aware of fraud, actual or suspected, or threats to the security of your Card or your security details, or those of an additional cardholder, we will attempt to contact you by telephone using the number you have given us or via the App or by email, asking you to contact us. Provided you complete satisfactorily our security checks to verify your identity, then and to the extent permitted by law, we will inform you of the nature of the suspected or actual fraud or security threats.

We will promptly investigate any transaction you challenge as unauthorised or which we suspect to be unauthorised. You must co-operate with us and the police in carrying out the investigation and in attempting to recover any losses arising from the theft, loss or misuse of your or an additional cardholder’s Card or security details.

If our investigations confirm that the transaction you challenge was not authorised by you or an additional cardholder, the general rule is that we will refund the transaction and return your Account to the position it would have been in had the transaction not been charged to your Account. The general rule applies in every case where your or an additional cardholder’s physical Card or your or their security details are misused before you or an additional cardholder received the physical Card or the Card and security details have been misused to carry out a transaction where the cardholder is not required to be present, such as buying goods online.

There is an exception to the general rule. Until you report the theft, loss or suspected misuse of your Card, you will be responsible for all losses caused by the misuse of the Card by someone who got possession of it or your security details with your consent.

B.16 When can we refuse to carry out a transaction or restrict the use of your Card?

B.16.1 What you should not use your Card for

You and any additional cardholder must not use your Card or security details:

(i) for an illegal purpose; or

(ii) after the expiry date shown on the Card; or

(iii) after you have exercised your right to withdraw from this Agreement

under Section A.8 above; or

(iv) you or we have given notice to end this Agreement under Section

B.25 below.

B.16.2 When we may refuse to carry out a transaction

We may refuse to carry out a transaction:

(i) if you owe more than your Credit Limit or would do so if the transaction went ahead (and in determining this we may take into consideration transactions already authorised but not yet charged to your Account);

(ii) if the transaction is a cash withdrawal and your daily cash limit has been exceeded or would be if the cash withdrawal went ahead; or

(iii) the transaction appears unusual compared to how you normally use your

Account.

B.16.3 Stopping your use of the Card

We may also refuse to carry out a transaction or, if it is reasonable, put a temporary or permanent stop on you or any additional cardholder using the Card or its security details:

(i) to protect the security of the Card or your Account;

(ii) to stop the Card or its security details being used where we reasonably suspect fraud or for other criminal or illegal purposes;

(iii) to reflect or prevent a significant increase in the risk you may not be able to pay us what you owe (for example, this could be because of the way in which you manage your Account with us or from information we receive from credit reference agencies);

1. where we reasonably believe that any information you have given us in your application was untrue, incomplete, incorrect or misleading in any material respect;
2. we are unable to contact you;
3. if you or an additional cardholder have told us that the physical Card is lost or stolen or someone else knows the security details;
4. where we have told you that we do not allow that type of transaction; or

(viii) if you or we have given notice to end this Agreement under section B.24.

B.16.4 Persistent Debt

If at all times during the preceding two consecutive periods each of 18 months the amount you owe us under this Agreement has exceeded £200 AND the payments you have made during that period have repaid less in principal than they have paid in interest and fees, you will be in ‘persistent debt’.

If you are in ‘persistent debt’ and:

(i) we have contacted you to provide you with options for increasing your payments to repay the amount you owe more quickly in a way that does not adversely affect your financial situation (for example, by transferring all or part of your account balance to an instalment plan under Section B.20); and

(ii) you do not respond within a reasonable period specified by us to confirm either that you will increase your payments in accordance with one of the options we have offered you or the options are not sustainable for you, or you state that you will not make the increased payments after confirming that they are sustainable

we may put a permanent or temporary stop on you or any additional cardholder using the Card or security details.

B.16.5 Notifying you

If we take any of the steps set out in Section B.16.1 or Section B.16.2, we will notify you in the following ways:

B.16.5.1 we will tell you if we refuse to carry out a balance transfer or money transfer and unless we are prevented from telling you by law we will explain why we are doing this.

B.16.5.2 for other kinds of transactions, you will normally find that we have refused to carry out the transaction when a retailer asks for payment by another method or a cash machine will not dispense the cash. If this happens you can contact our customer support team using the contact details in Section B.29.2 below and ask us for an explanation. We will give our reasons unless we are prevented from telling you by law.

B.16.5.3 We will normally give you notice before or if that is not possible, immediately after we put a temporary or permanent stop on the use of the Card and will give our reasons for doing so. However, we will not give notice where prevented by law from telling you, or where the giving of notice would be likely to prejudice the prevention or detection of crime, the apprehension or prosecution of offenders or the administration of justice.

B.16.6 Returning the Card to us

In a case where Section B.16.3 or Section B.16.4 allows us to put a temporary or permanent stop on the use of a Card, we may ask you to return any physical Card issued to you and any additional cardholder in which case you must return it/them to us immediately or we may Ask a retailer to keep the Card and return it to us. We will allow you to start using your physical Card again or replace it with a new physical Card if and when the reasons for stopping its use no longer apply.

B.16.7 Verifying transactions

We may verify certain transactions with you to ensure the transaction is genuine before allowing it.

B.16.8 Losses resulting from improper use of the Card

If you or an additional cardholder use a Card for a criminal or illegal transaction we may require you to reimburse us or the operator of the Card scheme for any loss which we or they suffer as a result.

B.16.9 Replacement Cards

We may decline to issue you with a replacement Card where:

(i) you have broken this Agreement regularly or seriously;

(ii) you have not used your Card or security details to carry out a transaction on your account for a period of 12 months; or

(iii) if you or we have given notice to terminate this Agreement under section B.24 of this Agreement.

B.17 Providing an AISP with information about your Account

If you are using an AISP the following terms will apply:

(a) we will treat a data request from the AISP in the same way as a data request received directly from you, unless we have objective reasons for treating it differently.

(b) we may deny the AISP access to your Account on reasonably justified and duly evidenced grounds relating to fraudulent access to your account by the AISP. Unless it would compromise reasonably justified security measures or would be unlawful:

(i) we will tell you about any denial of access to the AISP using any of the contact details we hold for you;

(ii) if possible, we will tell you before we deny access or otherwise immediately afterwards.

B.18 Making payments to us

B.18.1 You are responsible for paying us the amount of all transactions charged to your account under this Agreement together with the interest and fees we charge.

B.18.2 Except where there is no money owing on your Account, you must make the following payments:

(i) the instalment plan payments due under any instalment plans; and

(ii) at least the minimum payment due on your main balance.

B.18.3 Your payments must reach your Account on or before the payment due date every month.

B.18.4 You must pay us even if you do not receive a Statement showing the amount due. In case you do not receive your Statement you can find out how much you need to pay and the date by which you need to pay it by using the App or by email to support@thecreditthing.com.

You can always pay more than the minimum payment amount each month and we recommend you do this as this will help clear your balance faster and reduce the amount of interest you would otherwise pay.

B18.6

You should not make payments that put your Account in credit. If you do the excess over what you owe will be held as your e-money. We do not pay any interest on credit balances on your Account.

B.18.7

All payments must be made in pounds sterling (GBP) from your e-money balance on your Account unless we agree otherwise.

In all other cases where money is transferred electronically, the transfer must be from a U.K. bank or building society.

B.18.8

Payments will be credited to your Account when we receive them. When a payment is credited to your Account, it will reduce the balance you owe on it.

B.18.9

You may have a claim against a retailer because you have used your Card or security details to pay for goods or services and the retailer has not performed their side of the contract, for example, either because the goods are not delivered or the services are not performed or they are of poor quality. Normally, your claim against the retailer may not be used as a reason for not making payments you owe to us under this agreement. In the cases mentioned in Section A.9 of this Agreement, where you have a claim under section 75 of the Consumer Credit Act 1974 against us as well as the retailer, you may be able to use your claim as a reason for not making payments to us but only to the extent that the payments you owe us do not exceed the amount of your claim against us.

B.19 Payments using CPAs (Continuous Payment Authorities)

B.19.1 Setting up a CPA

We may ask you to set up a CPA in order to make payments to us under this Agreement. We may ask you to do this when this Agreement is made or you can set up a CPA at any time after your Account is opened. You set up a CPA by giving us the details of your debit card and we will use those details or the details of any replacement debit card you give us to take regular payments from the payment account of yours associated with your debit card to pay money you owe us under this Agreement.

B.19.2 Operating a CPA

The following terms will apply to any CPA you set up to make payments to us under this Agreement:

(a) you set the amount which you want us to take from your payment account. This can be a fixed sum or a variable amount (for example, your minimum payment or the full balance you owe us each month) or a combination of the two (for example, your minimum payment plus £10). If the amount you set is or includes a fixed sum, then:

(i) if the amount set is more than the full balance you owe us, we will limit the amount we take to the balance you owe;

(ii) if the amount set is not enough to pay the minimum payment and any instalment plan payments by your payment due date, you will need to pay the shortfall in some other way.

(b) you set the frequency of payments we may take and you choose the date when we may take them. The date you choose may either be a fixed day of the month or the payment due date:

(i) if you choose a fixed date, we will take the payment on the same date in every month (even if it is not a business day) unless the month does not have a day corresponding to the fixed date (for example where the date selected is the 31st and the month has 30 days), in which case we take the payment on the first day of the following month. In choosing the fixed date you should ensure the payment reaches your account by the payment due date;

(ii) if you choose the payment due date, the day will normally fall around 25 days after the date of the Statement.

(c) if we are not able to take a payment on the date set by you because there is not enough money in your payment account, we will make a second attempt to take the payment within the next seven days. If there are arrears of a previous month’s minimum payment owing on your Account, that second attempt may be to take a reduced payment equal to the minimum payment (which will include those arrears). If we remain unable to take the payment, we will regard the CPA as being revoked by you. We will tell you if this happens. You will need to find another way to pay us at least the minimum payment and any instalment plan payment payable by the payment due date in every month.

B.19.3 Cancelling a CPA

You can cancel your CPA at any time. You can do this by contacting us using the contact details given in Section B.29.2 or by telling the bank or building society where you have your payment account. If you cancel your CPA, you will still have to pay us at least the minimum payment and any instalment plan payment payable by the payment due date in every month.

B.20 Instalment plans

B20.1 General

We may allow you to transfer part of your Account balance to an instalment plan which will have a separate interest rate and monthly instalment payable. In addition, there may be a fee payable. The instalment plan may also be subject to an introductory rate. We will tell you what these will be before the instalment plan comes into effect. You may have more than one instalment plan on your Account at any one time.

B.20.2 How is an instalment plan set up?

You can ask us whether part of your Account balance or a particular transaction (such as a purchase) qualify for transfer to an instalment plan. Also, we may propose the transfer of any part of your Account balance or the allocation of transactions to an instalment plan at any time. You will have a limited time (usually not more than 28 days) in which to ask us to set up the instalment plan.

Before we set up an instalment plan for you, we will always first tell you what the terms of the instalment plan will be which will include:

(a) the rules we apply when deciding which transactions may be moved to the instalment plan;

(b) the amount we are willing to let you transfer to the instalment plan;

(c) the duration of the instalment plan;

(d) the interest rate we will charge;

(e) the monthly instalment you will have to pay;

(f) any other conditions attaching to the instalment plan; and

(g) the fee, if any, we will charge for the instalment plan.

We will ask you to confirm you want us to set up the instalment plan.

Once we have set up the instalment plan you must keep to its terms for as long as it remains in force.

B.20.3 When will an instalment

The general rule is that an instalment plan will remain in force until the end of the fixed term set. Exceptions to this rule are:

(i) where you repay the whole of the instalment plan balance, together with any interest which has become due on it but has not yet been paid at the date when you repay;

(ii) you ask us to cancel the instalment plan;

(iii) we give you notice cancelling the instalment plan because you have not paid the instalment plan payments for two months in a row; or

(iv) you or we end this Agreement (see Section B.25 below).

If you make a payment or payments to your Account in excess of the minimum payment due and your instalment plan payments due under Section A.7.2 as shown on your monthly statement, then any such overpayment will be applied to instalment plan payments not yet due. This could mean an instalment plan may end early. If this happens you may be entitled to a refund of part of any fee which we may have charged you when that instalment plan was set up. See Section B.21 for more information on how we allocate payments made to your Account.

If the instalment plan ends but this Agreement continues, then unless the terms of the instalment plan provide otherwise, any part of the instalment plan balance which remains unpaid will be combined with your purchase balance for the purpose of charging interest and working out the minimum payment amount.

B.21 How we allocate the payments you make

Where the amount of your repayment is not enough to pay off the full balance outstanding on your Account, your repayment will be applied to reduce the different parts of your balance in the following order:

(i) first, any instalment plan payment or minimum payment that was not paid by its payment due date; then

(ii) any instalment plan payment due for the current month; then

(iii) to reduce or pay off your main balance (the Account balance shown on your Statement less any instalment plan balance) starting with the part bearing the highest rate of interest and then in reducing interest rate order; then

(iv) to reduce or pay off any remaining instalment plan balance; and

(v) lastly to reduce or pay off any recent transactions not yet shown on your Statement starting with transactions bearing the highest rate of interest and so on in reducing interest rate order.

Where you have more than one instalment plan on your Account, as between instalment plans bearing the same rate of interest, payments will be applied to reducing or paying off the instalment plan that ends first and so on in the order in which they end.

Where other amounts bear the same rate of interest, your repayment will be applied to them in the order they were applied to your Account.

B.22 Changes to this Agreement

This Agreement has no fixed end date. We may need to make changes to it to take account of changes affecting our business or changes in your financial status. If you are unhappy with any change we make, you can end this Agreement by giving us notice under Section B.26 that you want to end it and repaying the total amount you owe us.

B.22.1 Changes to your Credit Limit and daily cash limit

We will review regularly your Credit Limit and your daily cash limit and may change either or both of them. We will do this to respond proportionately to:

1. a change in the risk of your breaking this Agreement, having regard to how you have been managing your Account;
2. a change in your financial status and in particular a change in your ability to afford your repayments; or
3. a change in legal or regulatory requirements affecting us.

We may also make a proportionate reduction in your Credit Limit if your Account balance has remained substantially below your current Credit Limit over a sustained period.

We will give you at least 30 days’ notice if we are proposing to increase your Credit Limit, in which case the increase will apply to you at the end of that period unless you have contacted us in the meantime to reject it or request a smaller increase. If you ask us to, we will apply the increase before 30 days.

You can contact us at any time to tell us you do not want to receive any further proposals from us to increase your Credit Limit or that we can only increase your Credit Limit after you have received a proposal from us and you have agreed to it. You can do this through the preferences area in the App.

In an emergency, such as where you are stranded abroad, and you ask us to and we agree, we may grant you a temporary increase in your Credit Limit which will take effect immediately. Any such increase will be limited to a set period. We will tell you what that period will be when you ask for the temporary increase. Before the end of that period you must bring the amount you owe under this Agreement back to a level which does not exceed the Credit Limit which applied immediately before the temporary increase took effect.

We may reduce either or both of your Credit Limit or your daily cash limit to respond proportionately to:

1. a change in the risk of your breaking this Agreement, having regard to how you have been managing your Account;
2. a change in your financial status and in particular a change in your ability to afford your repayments; or
3. a change in legal or regulatory requirements affecting us.

Usually we will give you at least 30 days’ notice where we reduce any of your Credit Limit or your daily cash limit.

We may reduce either of your Credit Limit or your daily cash limit without notice where:

1. we reasonably think that reduction is needed to stop you carrying out further transactions which will increase your Account balance to an amount you cannot afford to repay;
2. your financial status or your ability to afford the payments you must make to under this Agreement undergoes a substantial change for the worse; or
3. we have to make the reduction to comply with legal or regulatory requirements affecting us.

We will tell you about the reduction as soon as possible after the change.

You may ask us to reduce either or both of your Credit Limit or your daily cash limit at any time. However, we will not reduce your Credit Limit to a level we reasonably believe would cause you to be in breach of this Agreement, such as where, if made, the reduction requested would take your Credit Limit below the balance you owe us on your Account.

B.22.2 Changes to your interest rates

We will not change any fixed rate of interest which applies under an instalment plan.

We may from time to time change any of the other rates of interest we charge to respond proportionately to:

(a) a change in the risk of your breaking this Agreement, having regard to:

1. how you have been managing your Account;
2. whether on two or more occasions during the last 12 months you have been more than five days in making any payment you were due to make under this Agreement;
3. any change in your credit score; and
4. in particular, any information we obtain from credit reference agencies on how you are meeting your financial commitments;

(b) a change beyond our reasonable control in the cost of providing your Account;

(c) a change in the cost to us of funding the provision of credit under this Agreement;

(d) a change in legal or regulatory requirements or in any code or practice or conduct affecting our business; or

(e) a change in the cost to us of complying with any legal or regulatory requirements that apply to us (other than where any additional costs we have to bear due to any failure on our part to comply with those requirements).

We will give you at least 30 days’ notice of any increase in your interest rates. We will give you at least seven days’ notice of any reduction in your interest rates.

If we give you notice of an increase in your interest rates, you will have 60 days starting with the date you receive that notice in which to tell us that you reject the increase. If you do this the increase will not apply to you but:

(i) no further Card transactions may be carried out and you or any additional cardholder;

(ii) you must cancel any continuous payment authorities you have given allowing someone else to take payments from your Account;

(iii) you must repay all the money you owe us under this Agreement within a reasonable period; and

(iv) this Agreement will end and your Account will be closed when all the money you owe us has been repaid.

B.22.3 Changes to your minimum payment

We may from time to time change how we set the minimum payment to respond proportionately to:

(i) a change in legal or regulatory requirements or in any code of practice affecting our business; or

(ii) a decision by a court or ombudsman; or

(iii) reflect good practice in the provision of banking and financial services.

We will give you not less than 30 days’ notice of any change in the way we set the minimum payment.

B.22.4 Changes to the fees we charge

We may from time to time change the fees we charge for the reasons below. Some of the reasons given apply to particular fees and some are common to all fees. The specific reasons are set out in sections B22.4.1 - B22.4.3 and common reasons are set out in section B22.4.4.

B.22.4.1 Default fees

We may change the default fees shown in Table 2 in Section A.7.4 to reflect a change in the average costs or losses we reasonably expect to incur as a result of the breach which causes the fee to become payable.

B.22.4.2

We may change the money transfer fees shown in Table 3 in Section A.7.4 to respond proportionately to a change in the risk of your breaking this Agreement, having regard to:

(i) your payment history;

(ii) any change in your credit score; and

(iii) any information we obtain from credit reference agencies on how you are managing your financial commitments.

B.22.4.3

We may change any of the servicing fees we charge (including the money transfer fee) to respond proportionately to a change beyond our reasonable control in the cost of supplying the service covered by the fee.

B.22.4.4 All fees

We may change any of the fees we charge under this Agreement to respond proportionately to:

(i) a change in the value of money; or

(ii) a change in the law or any code of practice affecting our business.

We also may introduce a new servicing fee to reflect in a proportionate manner the costs we reasonably incur in providing a new service or facility which we make available to you under this Agreement.

We will give you at least 30 days’ notice of any increase in an existing fee or the introduction of a new fee. We will give you at least seven days’ notice of a reduction in an existing fee.

B.22.5 Changes to your Card and Account number

We may replace your Card with a new Card having the same features, for example when you have lost your Card or when your current Card is due to expire.

We may also issue a replacement Card which has different features and may have a different number from your current Card. We may do this where:

(i) we are replacing the Card with one which has equivalent or superior features (for example, where the new Card is issued under a different card scheme);

(ii) we need to change the features of the Card to reflect a change in the terms that apply to the Card (being a change which we are entitled to make by exercising our powers under this Agreement);

(iii) we need to remove a feature which is available with your current Card because the feature gives rise to security risks or is supported by technology which has become obsolete or is being withdrawn by a third party;

(iv) there is a change beyond our reasonable control in our relationship with a third party which has been providing features available with the current Card;

(v) we need to reflect a change in the security and authorisation settings in

the Card; or

(vi) we need to add a feature to enable the Card to access new services or technology.

We will give you at least 30 days’ notice before we replace your Card with one which has different features.

We may change either or both of your Account number and Card number if we reasonably think the change is needed to protect the security of your Account or Card. In particular we may do this when you tell us your Card or the Card of an additional cardholder has been lost or stolen, you or an additional cardholder have not received a physical Card that we have sent or you suspect your Account details or security details are being misused. Generally, we will try to contact you before we do this where we can do so without putting the security of your Card or Account at risk.

If we change your Account number or the number of your Card or a Card issued to an additional cardholder, you will need to tell anyone to whom you or the additional cardholder have given a continuous payment authority on your Account so they may continue to take payments from your Account.

B.22.6 Changes to other terms of this Agreement

We may from time to time make changes to the other terms of this Agreement for any one or more of the following reasons:

(i) if the change is in your favour;

(ii) to correct an error;

(iii) to make the terms easier for you to understand;

(iv) to reflect a change beyond our reasonable control in the operation of the card scheme we use in connection with your Account;

(v) to enable us to offer you a new service or feature in connection with your Account;

(vi) to reflect improvements in the systems we use to run our business (including changes in the capabilities of those systems) or other changes to those systems which are beyond our reasonable control;

(vii) to reflect changes in technology, fraud prevention requirements or payment methods;

(viii) to reflect changes beyond our reasonable control in the costs of providing the services we supply to you;

(ix) to reflect a change which has occurred or we reasonably expect to occur in the near future in legal or regulatory requirements or in the requirements of any trade body that apply to us;

(x) to reflect the requirements of any code of practice which promotes good practice in the financial services sector.

Any changes we make will be a proportionate response to the reason relied upon in making the change.

We will give you at least 30 days’ notice of any change we make to the terms of this agreement, except that where the change is in your favour, we may make it on giving you not less than seven days’ notice.

B.23 Things you should tell us

You should tell us immediately if:

(a) you change your name or your address;

(b) you change a telephone or mobile number or e-mail address which you have given us for the purposes of our communicating with you under this Agreement;

(c) you move overseas permanently;

(d) your Statement contains anything you think is incorrect; or

(e) where you have set up a CPA to pay money you owe us under this Agreement you change your payment account or debit card details.

You should always tell us without delay if your financial circumstances change.

You can tell us about changes by contacting us using the contact details given in Section B.29.2.

IMPORTANT:

You should call us immediately if you think your or an additional cardholder’s Card or security details have been or may be lost, stolen or misused.

If you fail to tell us about a change in your address and we have to trace you, you may have to pay the cost to us of tracing you (for more information see Section A.7.4 above).

B.24 Transferring this Agreement

B.24.1

You may not transfer this Agreement or any of your rights and duties under it.

B.24.2

We can transfer this Agreement or any of our rights and duties under it to another person (‘the transferee’) if:

1. the transferee is authorised by the Prudential Regulation Authority or the Financial Conduct Authority and has permission from the Financial Conduct Authority to exercise the lender’s rights under agreements regulated by the Consumer Credit Act 1974; and

(ii) we have first agreed with the transferee a statement of policy under which they agree to exercise the rights and powers transferred in a way that is no less favourable to you than the way in which we have been exercising them before the transfer.

We will arrange for notice of the transfer to be given to you as soon as reasonably possible after the transfer. If there is no change so far as you are concerned in the arrangements for administering this Agreement or servicing your Account following the transfer, we do not need to give you notice until those arrangements are changed in a way which affects you.

Before we make the transfer, we may give the transferee and their advisers personal information about you to help them prepare for the transfer. We may also allow them to use your personal information after the transfer in the same way that we can. By personal information, we mean any personal details you and others have given us, and what we learn about you from managing your Account.

B.25 Ending this Agreement and closing your Account

B.25.1 This Agreement has no fixed end date. It will continue until either you or we decide to end it.

You can give us notice at any time that you wish to end this Agreement through the App or by us using the contact details given in Section B.29.2.

We may end this Agreement at any time by giving you not less than two months’ notice in writing.

B.25.2 We may also give you notice ending this Agreement immediately in the following

cases:

1. we reasonably believe that you have broken this Agreement regularly or seriously;
2. you have acted in a fraudulent manner;
3. you die;

(d) a bankruptcy order is made against you;

(e) you apply for a debt relief order or similar order relating to personal insolvency is made against you;

(f) you enter into an individual voluntary arrangement;

(g) we are unable to contact you;

(h) we have put a permanent stop on the use of your card under Section B.16.3 of this Agreement;

(i) we are required to by a Government department or agency;

(j) we think it is reasonable and proportionate to end the Agreement to respond to a change in legal or regulatory requirements or in any code or practice or conduct affecting our business; or

(k) either notice to terminate the agreement with PrePay Technologies Limited under which your e-money account is operated has been given or that agreement has been terminated.

B.25.3 We will only give you notice to end this Agreement for the reason given under Section B.25.2 (a) above if we have first given you a default notice under the Consumer Credit Act 1974 and the default notice has expired without you having remedied the breach (if it had been capable of being remedied).

B.25.4 If you do not keep to the Agreement and we decide not to take action in respect of your breach, this will not stop us from taking action if you break the Agreement again in the future.

B.25.5 When you or we have given notice to end this Agreement, you and where appropriate any additional cardholder must:

1. stop using the Card or security details to carry out any further transactions;
2. repay all the money you owe us, including the amount of any transactions which are applied to your Account after notice has been given; and
3. cancel any continuous payment authorities you have given to someone else to enable them to take regular payments from your Account.

B.25.6 We will not close your Account and this Agreement will not end formally until you have repaid all the money you owe us under it. Until then we may continue taking monthly repayments from you. We may use any balance on your e-money account towards settlement of what you owe us except where this would have an adverse effect on your ability to pay your Priority Debts.

B.25.7 If when this Agreement ends your Account is in credit, we reserve the right not to repay to you any amount less than £5 due to the administrative costs of making the payment.

B.26 Complaints

If you have a complaint, please contact us using the contact details given in Section B.29.2.

We can provide you with a copy of our internal complaints handling procedure on request, or you can find it via the ‘contact us’ page of our website, getkoto.com/contact.

We will investigate your complaint and give any redress to which we feel you are entitled. We will do all we can to resolve your complaint to your satisfaction but if you are not happy with our final response to your complaint (due within eight weeks of your contacting us about it), you can refer your complaint to the Financial Ombudsman Service. You can do this by:

• completing the online complaint form on their website (www.financial-ombudsman.org.uk/);
• email to complaint.info@financial-ombudsman.org.uk;
• telephoning them on 0800 023 4567; or
• writing to them at Exchange Tower, London E14 9SR.

If you have not taken up your complaint with us first you will not be able to refer it to the Financial Ombudsman Service.

B.27 Who supervises us?

We are authorised and regulated by the Financial Conduct Authority (Financial Services Register No. 813940). The Financial Conduct Authority is the supervisory authority under the Consumer Credit Act 1974 and its address is 12 Endeavour Square, London E20 1JN.

B.28 Governing law

This Agreement is governed by the law of England and Wales. You and we agree that the courts of England and Wales, or Scotland if you reside there, or Northern Ireland if you reside there, shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).

B.29 Communications

B.29.1

We may give you a notice or document under this Agreement or that we are required to give you by law by:

1. posting or delivering it to the last contact address you have given us;
2. sending it as an attachment to a message sent to the latest e-mail address or mobile number you have given us; or
3. making it available in the App.

We will tell you when the notice or document is ready for you to view.

Where you have opted to receive Statements electronically we may:

(a) send them as attachments to messages to the latest e-mail address or mobile number you have given us; or

(b) provide them through the App.

We will tell you when the Statement is ready for you to view.

Some notices we are required to give you by law (such as notices of sums in arrears on your account or notices of default sums charged to your account) may be included in your Statement. If we may do this, we will incorporate that notice in your Statement.

We will send you a notice or document using the most recent contact details we hold for you for that channel of communication. When we send you a notice or document using the most recent contact details we hold for you for that channel of communication we will assume you have received it.

Any notice or document sent electronically will be in a form which allows you to store it for future reference.

Any attachment to a message will be a PDF or in another format which allows you to store it for future reference and copy it without changing it.

We will communicate with you in English and all contract terms and information supplied to you will be in English.

Any telephone calls between you and us may be monitored and will be recorded to enable us to maintain quality control, check that transactions have been executed correctly and help with the resolution of disputes and prevention of fraud.

B.29.2 Your communicating with us

If you want to get in touch with us, you can do so:

• via the App; or
• by e-mail to support@thecreditthing.com; or
• by calling us on 0800 9176177; or
• by messaging us through the thecreditthing in-app support; or
• by writing to us at Koto Card Limited t/a thecreditthing, Nightingale House, 46-48 East Street, Epsom, Surrey, England, KT17 1HQ.

B.30 Definitions

In this Agreement the following terms have the meanings set out below:

Our contact details

IMPORTANT INFORMATION

Call Charges

Calls to numbers beginning 0800 and 0808 are free from consumers’ mobiles and landlines. Calls to 02 numbers from U.K. landlines and mobiles are usually included in free plan minutes if available; otherwise calls to 02 numbers should cost the same as national rate calls.

Call cost information correct as at November 2021.