PERSONAL ACCOUNTS TERMS – 20th July, 2022 

Important information

Please read these terms and conditions carefully before using your Saurus.com account, before activating your Saurus.com card and before using any of our services.

Our site(s) and our App(s), such as but not limited to www.saurus.com (hereinafter Saurus.com or Saurus) are operated by Rewire Holding LTD and Saurus Subsidiary SL (hereinafter we, us or our). Rewire Holding LTD is a company registered in England and Wales with company number 12344479, acting as a Distributor of Payrnet limited (hereafter Payrnet), a company registered in England and Wales authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution with register reference 900594.

This document explains the terms and conditions for your Saurus personal account and other important things about the use of it. You can also find helpful information in our FAQs.

These Terms and Conditions, the Privacy Policies and the Payrnet Limited Terms and Conditions (attached in Annex 1) combined constitute a legal Agreement (The “Agreement”) between Rewire Holding LTD and the account holder (you or your), and you can find them in our App or website at any time. Be aware that there are one or several different additional terms and conditions that are referenced within these terms and conditions and all together constitute the terms and conditions. Separate dedicated terms and conditions (T&Cs) for specific items or specific services or offers or promotions will be made available in due course, such as but not limited for example T&Cs for our Referral Program.

  1. Saurus personal account
    • Type of account

Your Saurus account is an electronic money account holding your e-money in Euro or GBP, and electronic money in your Saurus account is issued by Payrnet and managed by Saurus.

  • How do I open an account?

Normally you must be at least 18 years old or over within Europe or at least 16 years old or over in UK to open a Saurus account. When you apply for an account, someone from our team or a third parties authorised by us, and by you by using our services herewith, will ask for information to comply with our requirements at our discretion and legal/regulatory requirements. By entering to this Agreement, you confirm that you consent to us or a third party authorised by us on our behalf to carry out any research related to you and/or your application.

When we have the information we need and if we think you fulfil our requirements, we will open your Saurus account and notify you accordingly.

You cannot open more than one Saurus personal account but you can have multiple current accounts (Euro and/or GBP).

Once you have put money in your account you will be able to use our Saurus services through our app, and you will be able to checkout all your in and out payments and receive money and transfer money as described herein.

  • Adding funds to your Saurus current account

 You can add money to your Saurus current account in the following ways:

Into your EURO IBAN current account:

  • By our bumping feature, sending instant funds contactless from another Saurus.com user to you, by that other Saurus user entering the amount in EURO to send you on his Android smartphones and then put both yours and his/her Android smartphones back to back to each other till they vibrate, using our licensed patent pending technology.
  • By an almost instant transfer from any EURO current account from another Saurus.com user.
  • By a standard EURO SEPA transfer from any 3rd party EURO current account.
  • In future and when available by topping up with a third part debit or credit card.
  • By FX from a foreign currency exchange into EURO currency transferred locally into your EURO IBAN current account with us.

Into your GBP local current account (sort code/account number)

  • By our bumping feature, sending instant funds contactless from another Saurus.com user to you, by that other Saurus user entering the amount in GBP to send you on his Android smartphones and then put both yours and his/her Android smartphones back to back to each other till they vibrate, using our licensed patent pending technology.
  • By an almost instant transfer from any GBP current account from another Saurus.com user.
  • By a standard faster pay GBP transfer from any 3rd party GBP local current account.
  • In future and when available by topping up with a third part debit or credit card.
  • By FX from a foreign currency exchange into GBP currency transferred locally into your GBP local current account with us.

The above is not a final and complete list and we may change or stop any of above methods or we could be adding other methods, which we might make available to you at any time without informing you or without any prior notice.

  • Direct debits from a Saurus account

You can set up direct debits from your Saurus account authorising the organisation taking direct debit payments from your current account(s) with us. You can check our detailed Term and Conditions for SEPA and UK Direct debits here.

  • Authorisation for outgoing Payments

 When we execute an outgoing payment (hereinafter payment), it is your responsibility to ensure you provide correct recipient account details and amount and you are responsible if you give us incorrect instructions or you make the payment more than once, and we will not be liable for any loss or any damages direct or indirect or incidental that this may cause to you Although we will try to get your money back, we are not always capable to do this, and we will charge you a fee for tracing, recalling and cancelling a payment.

We may not execute or process an outgoing payment if:

  • Your Saurus account does not have sufficient funds to cover the payment.
  • Your Saurus account has reached its limits of use.
  • Your account is suspended or closed.
  • we believe it is required in compliance with any applicable law
  • We suspect fraudulent activity on your Saurus account.

We will notify you through the app of the refusal (unless the law or regulation or any appropriate or competent authority prevents or recommends us to do so) as soon as reasonable possible.

If, for any reason, a payment is processed for an amount greater than the available funds on your Saurus account, you must repay us the balance immediately after receiving a notification from us. Should you not repay this amount immediately we reserve the right to take all steps necessary, such as debit your due amount to us onto any of your current accounts with us, including legal action and/or closing your Saurus account to recover any monies outstanding.

  • How long it takes to make a payment

We understand that when you make a payment, it is very important to you that the recipient of your payment receives it within a reasonable time. However this time will depend on when (working day or holiday, working hours or out of working hours, before or after our working days cut-off time that we set from time to time) you tell us to make the payment and on the network load on the cloud, on our Electronic Money Institution (EMI) partner executing it in a timely manner and potentially depends on any 3rd party clearing banks and depends on our EMI partner correspondence bank execution time.

For example, the average timing is:

  • If you make a payment from your Saurus account to another Saurus account with the same currency (example EURO payment to another EURO account with us or GBP payment to another GBP account with us), in this case the recipient is aimed to receive it in less than a minute or so, depending on our network load.
  • If you make a payment from your Saurus account on an Android smartphone with our Bumping technology to another Saurus account on an Android smartphone with the same currency (example EURO payment to another EURO account with us or GBP payment to another GBP account with us), in this case the recipient is aimed to receive it almost instantly, depending on our network load.
  • By UK Faster Pay payments are aimed to be received in minutes.
  • If you make a payment to someone else’s 3rd party current account in the same currency within Europe for EURO or within UK for GBP it is aimed to be received on average the next business day.
  • If you want to make a payment from a Euro account with us or form a EURO account with a 3rd party to a GBP local current account with us, it will not be received simply because your GBP account with us is a local GBP account and does not have an IBAN associated with it but rather a sort code and an account number which is strictly for use within the United Kingdom locally. You could however use in future, if and when available our FX (foreign exchange) feature to send EUROs to the FX method and exchange and send it through the FX local transfer method into your GBP account with us.
  • If you want to make a transfer from your Euro or GBP account with us, through our future FX feature, if and when available, it is aimed to take a day or two but it could last on average up to four business days depending on which of the foreign currency that we aim to make available to you in future and on the processing time of any 3rd party partners.
  • Transfer money between Saurus users

We aim for you to send and receive money virtually instantly between yourself and another Saurus user, choosing them from the Saurus users contact list, or by using our Bumping feature between Android smartphones, whereby the payment will aim to be received virtually immediately.

We aim to allow you to transfer money instantly between our nearby Android users through our licensed patent pending “Bumping” technology in a more secure way than current transfers by both Android smartphones sending a separate transaction request to our infrastructure (assuming both have internet access) and whereby our infrastructure verifies and consolidates these 2 as one transaction if both fully match and authenticate.

  • Payments made in error

If you suspect an incorrect or unauthorised payment has been made from your account with us (for example a direct debit previously cancelled), you have to contact us immediately such that we can assist you in as far as we can to ensure this does not happen again, but we will not be liable for any loss as it is your responsibility to ensure the 3rd party you previously authorised to collect monies from your account was notified by you and stops collecting monies from your account.

If we make a payment into your account by mistake, we will take out from your account the same amount without asking you and if we take an amount out from your account by mistake we will refund the same amount back into your account as soon as we notice it ourselves or by you informing us about it. Depositing the monies back into your account, in this last case is the sole remedy in for this case and no other liabilities or damages are attributable to us other than returning the funds in this event.

If you made an incorrect payment introducing incorrect details, we will make reasonable efforts to recover your money, but we might charge you a fee to cover our costs. We will tell you how much you will have to pay in order to recover that money, although we will not be able to give you any guarantee that the money will be recovered. We will send you a form that you will have to fill up with the information of the payment to help you reclaim the money, but we will not be responsible for any loss as it is your responsibility to ensure that the introduced details are correct.

  • How is your money protected?

We issue the equivalent electronic value of the money we receive in your account or that you add in e-money, and we place it into our “client money bank account” that we hold with a large commercial bank associated to our EMI partner, keeping your money separated from our own money, that way even in a case of insolvency of our company your money would be protected and would be paid to you from our “client money bank account”. Therefore, as we use this system to protect your money, it is not covered by the Financial Services Compensation Scheme. We aim to introduce over time additional protection mechanism as a result of more data collected that will help us to take more automated decisions to protect our users funds even better from or any potential or suspected fraud or suspected illegal activity.

  • How do you close your account?

You can end this Agreement and close your account at any time by contacting our Customer Services or in future also through the App and it is your sole responsibility to transfer any of your available funds (minus any payments or fees to us, if any) with us to another account before closing it.

You might still have to pay some charges which will be deducted from your funds before closing your account or deducted automatically from the total funds you would be transferring out of your account prior to closing it.

  • Closing or suspending your account

 We may close or block your account without notifying you if:

  • Any of the statements you made when you created your Saurus.com account or thereafter at any time in the future become false, inaccurate or misleading in any way. It is your sole responsibility to keep all the information you provided to us up to date, including but not limited your country of residence or fiscal residency and your ID document to be upload when you replace an expired ID document and so forth.
  • You break the terms of any Agreement with us in any way.
  • We deem, at our sole discretion, that you are no longer entitled to have an account with us.
  • We suspect you are using our account for criminal or fraudulent purposes.
  • We deem, at our sole discretion, that your behaviour towards any of our team makes it difficult to deal with you for any reason without any prior notice.
  • If we have good reason to believe that your use of your account with us could
  • directly or indirectly damage our reputation, our image, our brand, our software, systems or hardware or any of those previous listed applied to any our business partners, such as but not limited to our EMI partner, our EMI correspondent bank, our EMI CARD provider (i.e. Mastercard or any other).
  • If we believe that we have to do it to remain in compliance with any Agreement or contract that we may have with 3rd parties or to comply with any law or regulation, or court order or as instructed or recommended by any regulator with jurisdiction.

If any of the events listed above, or any additional one that we deem critically important even if not listed herein or in any such additional T&Cs, happen and there are funds remaining in your account, we aim to transfer these to any 3rd party current account on your name with any 3rd party or with a high-street bank within 30 days since you provided an alternative account to transfer those funds or any such other time frame that the law states. If however any competent authority instructs or recommends us to freeze your funds or your account, than we will comply with such instruction or recommendation even if it comes with a no notice to you.

We may also decide to close or suspend temporarily or permanently your account for any other reason, in that case we aim to notify you through our app by notification and/or by email unless we were instructed or recommended not to do so by any competent authority, our provider or our own Compliance team.

  1. Saurus Personal Card
  • Type of card

The Saurus.com (Saurus) card is a MasterCard Debit Card. Please be advised that additional terms and conditions apply for the use of Debit Mastercard, which you can read here.

The maximum amount that you can spend with your card will depend on the limits that applies to your card, you can find those limits here.

  • Apply for, receive and activate a card

Upon your request through our Saurus app we aim to issue a Saurus.com (Saurus) card associated with your account. The card will be posted to your home address as provided by you during the account creation process and which we aim that you can amend, correct or change if you move house at any time in future.

We aim for you to receive the Saurus card with a welcome letter with the instructions on how to activate your personal card through the Saurus App. Once it has been activated, you can access your card PIN through the Saurus App. It is your responsibility to keep the PIN and card details safe at all times.

Be advised that the Saurus App is aimed to allow you access to the original PIN when the card was issued to you and that if you change the PIN at any ATM machine that it is your responsibility to keep that PIN in a safe place as the Saurus app will not have that changed PIN. You will be however be able to recover or retrieve your PIN if you changed it and forgot it, through the Saurus App but a PIN number retrieval FEE will apply in most cases, depending on which type of account you hold with us (i.e. which type of monthly subscription account or a pay as you go account or any such other future account type).

  • Using your Saurus card

 Your Saurus card can be used:

  • At any merchant to make purchases fees may apply)
  • Via internet to make purchases (3D secure fees may apply)
  • To obtain cash through ATMs worldwide (fees apply, see point 5)

When making purchases online, to ensure the online payments you make are secure (Strong Customer Authentication), we may ask you additional information or ask you for a security code (3D secure) that will be send to you by notification or by email (or any such other means at our sole discretion) as additional security in order to confirm you are the person performing the payment before the payment is accepted for execution.

You will need to authorise a transaction when paying in any Merchant by entering the PIN the first time you make a merchant POS (point of sale) payment or thereafter too over a certain amount, or it can also be done paying though contactless, and once you have authorised a transaction, you will not be able to withdraw your consent to that transaction for any reason whatsoever so please be careful and do not authorise any payments lightly and be vigilant and take your time to read and check before you authorise and card payment. Also, please protect your card inside a metal box as to avoid any contactless fraudulent charges on your card as those do not require any authorisation other than the proximity of your card to any POS device, so protect your card such that malicious people cannot get near your card even contactless by shielding your card in a metal cards box. It your sole responsibility to protect your card from any fraudulent use or charges.

In some occasions, the merchants (especially hotels or car rentals) may need to access more funds that you are supposed to pay at first instance, in example to cover potential liabilities, and they may require us to authorise all the transactions you make. This is because they need to know if you have sufficient funds to cover the possible transaction, so make sure you only enter your PIN when you agree to all terms and conditions of the merchant because by entering your PIN you herewith authorise us to automatically authorise any and all transactions from any merchant where you entered your card PIN.

Regarding the internet merchants, some sites may, on registration or at checkout stage, send a request for payment authorisation to verify if funds are available on your card. This may temporarily affect the available balance. They may not deduct the amount from your Saurus card until goods are dispatched but you should be aware of any previous authorised payment that you did and such amount still has to be deducted from your available fund on your card account when you are making other follow on purchases and remember that it is your sole responsibility to ensure that you have enough balance or funds in your Saurus account and or in your card account to cover all your purchases.

The Saurus card can be used to make payments in other currencies than the card currency, such as when you are abroad, and the amount deducted from your card account will be converted using our card provider and/or EMI provider exchange rate and FX mark-up, which can fluctuate and change between the time you authorise the transaction and the time it is deducted from your account.

  • Virtual Card

A Saurus Virtual Card is a payment debit card that only exists virtually. Therefore, it hugely will help you in keeping your physical card details secure as you do not have to have it with you.

To get a Saurus virtual card, go to the app and open the card section and go to “get a new card”, and select a virtual one. Then your virtual card will be automatically activated and you will be able to use it shortly after auto-activation as normal through your smartphone.

  • Security details

You are responsible for the use of your Saurus card and account and keeping them safe, including your Saurus virtual card through our App. You must not:

  • Share your physical or virtual card-, nor your App- nor your smartphone- security details with anyone.
  • Allow a third person to use your Saurus card or your Saurus App.
  • Disclose or make available your PIN, email or App, or smartphone credentials to any third party, with the exception to the PIN when using a third party authorised ATM/POS merchant or your CVV number when using an authorised third party online merchant if you want to use their services but be very vigilant that such ATM/POS merchant/online merchant is truly genuine, especially when online make sure the website is truly the genuine one.
  • Enter the PIN in any ATM that does not look genuine, looks modified or has a suspicious device attached or operates in a suspicious manner.

You can freeze your Saurus card though our App or by calling our Customer Service, we recommend to always use our App when you have internet as it uses secure connections and it is the fastest way to freeze or un-freeze your card.

  • Blocking your Saurus card

We might prevent you from using your card if we reasonably believe that it might be used fraudulently, without your permission, or to meet our legal or contractual obligations.

We aim to communicate with you in such an event through the App as soon as reasonable possible after we block your Saurus card, letting you know why we have done it, unless it would be unsecure or unlawful or at our sole discretion.

  • Lost or stolen cards

In the event of loss, stolen, damaged, malfunction or any other situation in which the Saurus card could be in risk, you must ensure that you block or freeze your Saurus card immediately via the App or by contacting our Customer Support service only in the event that you have no internet to use your App.

You can ask for a card replacement through the App and we will deliver a new one to your home address (fees apply, see point 5).

  •  Expiry date

The expiry date of the Saurus card is printed on the back of the card and once it expires you will not be able to use it. You can ask for a card replacement through the App before the expiration date and we will deliver a new one to your home address (fees apply, see point 5).

  1. Communicating with you

We aim to communicate with you primarily through the Saurus App (including notifications to your smartphone) or by email, and at our sole discretion by phone or by SMS, to give you any information we deem related with your account, so please make sure you check the App regularly by opening it to foreground and authenticating. We will only be able to communicate with you through the registered email or telephone number, to be sure that we are not disclosing confidential information with anyone that is not the account/card holder.

To keep your account safe and all the new features active, download the latest software for your device and the last version of our Saurus app when they come available by checking regularly for updates or when receiving a notification in your smartphone or by email or by any such other means that we may communicate with you.

Keep your personal details updated through our App and let us know if any given information changes by simply updating it through our App or if not possible for whatever reason than let us know through our customer service email.

We aim to communicate with you in English or Spanish, or at our sole discretion in future with any such other language(s) if and when they become available and we will notify you at least through one of the above-mentioned communication channels.

  1. Monthly Subscriptions Plans Fees

You must pay any monthly fee a month before the relevant monthly fee period, which is 30 consecutive calendar days, based on a 365-calendar year. For example, if you pay your first monthly fee on September 10th, we will charge your next monthly fee on 10th of October, and so on. If your next payment date is due for a date that does not exist in a given month, for example 30th February, we will charge you on the last day of that month instead.

We will take any debited fee from the available Balance of your Saurus account, or if you have no available Balance in that particular account, we will take that amount from any other Saurus account or card that you hold with us. If your available balance on the other account is in a different currency than the fees due, we will convert the money from that account at the exchange rate set by the third party we use for Foreign Exchange.

If you do not have enough available Balance on any of your accounts to cover the monthly fee, we will set that fee as “pending” and it will be charged when you next have enough Balance on any of your accounts. If you don´t top-up your account before that month expiration, your Monthly Subscription Plan will be downgraded to “Saurus Go” and all of your accumulated benefits will be canceled.

If there is not enough available Balance on any of your Saurus accounts, we reserve de right to take all steps necessary to recover any outstanding fee, including legal action.

We currently offer the following monthly plans that will apply to each current account:

Saurus Go

Is a pay as you go plan with no monthly subscription fees, however a one-off fee will apply to for shipping and activation of your card.

Saurus Classic

Is the most affordable monthly subscription plan including a series of monthly transactions and items within this subscription package, and include amongst others shipping and activation of the card as part of the monthly fee.

Anything over and beyond the number of transactions and items covered within the monthly package will be charged from then on at the Saurus Go fees only for those transactions and items above the inclusive ones in the package and for those transactions and items not listed in the monthly package.

Saurus Plus

Is a premium monthly subscription plan suitable for most people, with a monthly subscription fee, which includes a series of monthly transactions and items within this subscription package, and include amongst others shipping and activation of the card as part of the monthly fee. Anything over and beyond the number of transactions and items covered within the monthly package will be charged from then on at the Saurus Go fees only for those transactions and items above the inclusive ones in the package and for those transactions and items not listed in the monthly package.

Saurus Premiere

Is a premium monthly subscription plan suitable for most active individuals, with a higher monthly subscription fee, which includes a higher series of monthly transactions and items within this subscription package, and include amongst others shipping and activation of the card as part of the monthly fee. Anything over and beyond the higher number of transactions and items covered within this monthly package will be charged from then on at the Saurus Go fees only for those transactions and items above the inclusive ones in this package and for those transactions and items not listed in the monthly package, such as for example but not limited to the SWIFT fees.

  • Upgrading your Saurus account to a monthly fee plan

 

You can upgrade your Saurus account plan at any time in your App, provided that you have enough Balance for at least one monthly.

If you are already subscribed to any Saurus monthly fee plan and you want to upgrade to another with better conditions, you can do that at any time, and the activation of the new monthly plan will be executed on the next monthly fee period.

  • Downgrading your Saurus account from a monthly fee plan

You can downgrade your Saurus account plan at any time in your App, provided that you do it at least 10 calendar days before your next payment is due. If you downgrade your account within the previous 10 calendar days of your next payment, the activation of the new plan will be executed the month following the next due date.

  • Annual fee subscription

Our annual subscription gives you the option of paying upfront any of our monthly plans on an annual basis at a discounted price.

You can cancel your annual subscription at least 10 days before your next payment date is due, otherwise it will be renewed automatically. We will notify you at least one month before your annual plan renewal date.

We will take any debited fee from the available Balance of your Saurus account, or if you have no available Balance in that particular account, we will take that amount from any other Saurus account or card that you hold with us. If your available balance on the other account is in a different currency than the fees due, we will convert the money from that account at the exchange rate set by the third party we use for Foreign Exchange.

If you do not have enough available Balance on any of your accounts to cover the annual fee, we will set that fee as “pending” and it will be charged when you next have enough Balance on any of your accounts.

If there is not enough available Balance on any of your Saurus accounts, we reserve de right to take all steps necessary to recover any outstanding fee, including legal action.

  1. Limits

When applying for a Saurus account, we aim for you to choose for now between Saurus “Go” or one of our Monthly Subscription Plans in the App, or in future potentially also from our website(s), based on the plan that you feel better servers your needs, according to the services we offer and the limits we have or how much you can spend or withdraw with your Saurus card. You can check here the limits that apply for each of the account and card we offer.

You can change your plan or account type at any time (fees might apply), and if your spending increases exceeding our limits, we may ask you for some additional information and documentation, so please provide them as quick as possible. Furthermore, when an incoming transaction exceeds our limits, the transaction might be returned to the sender at our solely discretion.

  1. Restrictions on using the Saurus app and Card

Saurus current account or card must not be used:

  • To allow someone else to have access to your account or app.
  • By anyone different than the account holder.
  • For illegal or fraudulent purposes or in any matter prohibited by any law of any EEA country (Spain, etc.), including the UK.
  • To trade in foreign currencies with unlawful purposes or taking unlawful advantages or discrepancies in the foreign exchange market or to manipulate any foreign exchange markets or to trade with any non-public or privileged insider trading knowledge.
  • In a way that could harm our ability to provide our services.
  • In any way that may adversely/negatively affect tangible or intangibly our image, brand or our business operating margins or profits or costs.
  1. When we can change these terms

We may changes these or any such other additional T&Cs (terms or Terms and Conditions) at any time except for any additional charges or fees charged to you if any of those changes becoming more expensive to you than we will notify you 2 months before or 60 calendar days before, whichever comes earlier. Any reduction in charges or fees that have a beneficial effect to you are at our sole discretion and are aimed to be implemented at any time and at our sole discretion, without any prior notice and we reserve the right to apply discounts or even waive certain fees or charges on our published charges or fees for certain individual accounts that we select, if any, at any time at our sole discretion.

If you do not agree with the changes, you can terminate this Agreement within the 2 months before or 60 calendar days period before such changes become into force and you may close your Saurus account in accordance with clause 2.10. However, in the event you do not cancel during this period then any and all T&Cs changes will apply to you too automatically.

We also may change our T&Cs if any part of them is inconsistent with any regulatory requirement and you herewith consent that we can replace any non-compliant part or whole with new legally compliant parts or whole with the same original intend or meaning.

Any changes in our T&Cs, and/or any additional T&Cs, or our Privacy Policies that do not affect any charges or fees having a negative effect to you, we reserve the right to change all those at any time, at our sole discretion, and without any prior notice. So please read all our T&Cs and Privacy Policies regularly by checking the date of the latest version available through our website(s) and/or our App(s).

Any new and/or additional T&Cs of any kind, such as but not limited additional T&Cs for referral programs or any such other programs or any other additional T&Cs or new services can be added by us at any time, at our sole discretion without any prior notice.

  1. Commence and Termination of this Agreement

This Agreement will commence when we notify you that we have accepted your application by accepting your KYC and creating a current account for you or accepting an order for a Card for you and will continue until terminated by you or by us at our sole discretion.

We can terminate this Agreement at any time, without giving any reason, if we give you two months’ notice via our app, email or phone and refunding the balance on your account to you without charge.

We can also terminate this Agreement with immediate effect if you have breached any clause of any of our T&Cs or Privacy Policies or we have a reason to believe or suspect that you have used or intend to use the Saurus account or card in a negligent, fraudulent or non-ethical manner or in any other unlawful purposes, or if we cancel your Saurus account.

In the event that any additional fees are found to have been incurred on your account following termination by us, then subject to this Agreement, you must refund to us any sum which relates to a withdrawal on the account or fees and/or charges validly applied whether before or after termination. We will send a refund request to you and will require you to refund us immediately. Should you not repay this amount immediately after receiving the request for refund from us, we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding from you to us.

  1. How to make a complaint

If you are unhappy with any element of the services provides by Saurus, then a complaint message can be sent by you to Customer Service via the app or via email to [email protected].

One we have received your compliant we aim to investigate the complaint and give you a response within a couple of days but this can take up to 15 business days depending on our work load.

If you are not happy with our resolution you can send your complaint to the Financial Ombudsman Service (https://www.financial-ombudsman.org.uk/)

  1. Contacting customer service

If you want to contact us with regards to any matter related to our services you can contact us via our App or via email to [email protected]

Lost, damaged or stolen cards can be reported preferably via the App as that is the fastest way that you can Freeze/Block your Card, alternatively by email to [email protected] which is the slowest way or if you lost your phone and have no access to the App than you can contact us to report this by calling +447873278758 and request us to Freeze/Block your Card on your account once we are satisfied that you answered security questions correctly to ensure it is truly you (the account holder) making such request.

  1. Our Intellectual property

We own or licence all intellectual property rights in our brand and name, our software, our App(s) and our Cloud infrastructure and all related materials. No right (including any intellectual property rights) in the aforementioned will vest in you at any time and you must not use our intellectual property as your own. We provide you herewith the right of use of our App(s) and services strictly and only in so long you remain a customer of us and have an active account with us.

  1. Miscellaneous
  • This Agreement is personal and only binds you and Saurus. You cannot transfer any right or obligation under it to anyone else.
  • Each term or condition of this Agreement operates independently and if any such term or condition is deemed unlawful or unenforceable at any time, than you consent herewith that any such unlawful or unenforceable part(s) will not affect any other term of this Agreement and you consent herewith that any such unlawful or unenforceable part(s) will be replaced by new wording with the same meaning or original intend which is deemed lawful or enforceable.
  • This Agreement is governed by English law and English courts will have exclusive jurisdiction to decide about any dispute in connection with this Agreement.
  • No third party who is not a party in this Agreement has any right to enforce any of the clauses in this Agreement.
  • If these terms and conditions or any such other additional terms and conditions or our privacy policies are translated into any another language, the English version will prevail.
  • The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity.  If fraud is detected, you could be refused certain services, finance, or employment.  Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found in our privacy policy. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can also be found by visiting cifas.org.uk/fpn. Whenever fraud prevention agencies transfer your personal data outside of the European Economic Area, they impose contractual obligations on the recipients of that data to protect your personal data to the standard required in the European Economic Area. They may also require the recipient to subscribe to ‘international frameworks’ intended to enable secure data sharing.

 

ANNEX 1

PAYRNET LIMITED

TERMS AND CONDITIONS FOR CONSUMERS

ELECTRONIC MONEY ACCOUNTS

BACKGROUND

This Agreement: This Agreement is with PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”, “we” “us”). We are an Electronic Money Institution (“EMI”) and are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011  (“EMR 2011”) (register reference 900594) for the issuing of electronic money.

Our relationship with Rewire Holding LTD: As an EMI, we have appointed Rewire Holding LTD as an EMD Distributor. An EMD Distributor means a person who provides payment services on behalf of an electronic money institution (as defined in the EMR 2011). As our EMD Distributor, Rewire Holding LTD is authorised to provide associated payment services alongside our e-money account services.

AGREED TERMS

  1. OUR TERMS
    • Interpreting this Agreement. In order to easily understand the terms of this Agreement, please first refer to clause 3 which, amongst other things, sets out the meaning of capitalised terms used in this Agreement.
    • Why you should read it? Please read this Agreement carefully before you agree to it, as its terms apply to the services provided by us. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only complete the sign on procedures and agree to the terms of this Agreement if you agree to be bound by this Agreement.
  2. INFORMATION ABOUT US AND HOW TO CONTACT US
    • Who we are. We are PayrNet Limited, an EMI as described above.
    • Communications between us are to be in English. This Agreement is concluded in England and all communications between you and us shall be in English only.
    • How to contact us. All queries should be directed towards the Customer Service of Rewire Holding (Saurus). You can contact the Customer Services of Saurus using details set out in clause 11 of their Terms and Conditions.
    • How we may contact you. If we have to contact you we will do so as follows: in the first instance via the Customer Services of Rewire Holding (Saurus) except in urgent cases. If we have not been able to contact you through the Customer Services of Saurus or if the matter is urgent, we will contact you by writing to you at the email address(es), you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us or Rewire Holding (Saurus).
    • ‘Writing’ includes emails. When we use the words “writing” or “written” in this Agreement, this includes emails.
    • Some of the services we provide are subject to the Payment Services Regulations 2017. The Regulations regulate how payments must be transmitted and provide protection for the clients of authorised payment institutions and electronic money institutions.
  3. INTERPRETATION
    • The definitions set out in this clause apply in this Agreement as follows:

“Agreement” means this agreement and the privacy policy.

“Consumer“ means an individual who, in entering into this Agreement, is acting for a purpose other than a trade, business or profession.

“Electronic Money” means electronically stored monetary value as represented by a claim against us.

“Regulations” means the Payment Services Regulations 2017 (SI 2017 No. 752).

“Safeguarded Account” means the bank account(s) belonging to us, which are separate to our own office bank accounts, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.

“Services” means the e-money account services.

  • Clause headings shall not affect the interpretation of this Agreement and references to clauses are to the clauses of this Agreement.
  • Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
  • Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
  • A reference to a statute or statutory provision is a reference to it as amended, extended or reenacted from time to time and reference to a statute or statutory provision shall include all subordinate legislation made from time to time.
  1. TERM AND BECOMING A CLIENT
  • How can you agree to this Agreement? You can agree to this Agreement by clicking on “I agree the Terms and Conditions” during the account opening process of Saurus or by otherwise confirming your agreement to same or availing of the Services.
  • When will you become a client of ours? You will be bound by this Agreement once you have agreed to it as set out above and this Agreement shall remain in force until terminated in accordance with its terms.
  1. SERVICES
  • As part of the Services, we shall issue you with Electronic Money upon receipt of money from you or a third party on your behalf, store your Electronic Money and redeem Electronic Money both on your express instruction and in accordance with this Agreement and the agreement of Rewire Holding LTD.
  • Our Services do not include the provision of advice. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation, or markets.
  1. ISSUING ELECTRONIC MONEY TO YOU
  • Where we receive money from you or on your behalf, this money will be held by us in the relevant Safeguarded Account in exchange for the issuance by us to you of Electronic Money. Your funds will not be used by us for any other purpose and in the unlikely event that we become insolvent, your e-money is protected in an EEA-authorised credit institution or the Bank of England.
  • When we issue you with Electronic Money, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding your money in that (i) we cannot and will not use the funds to invest or lend to other persons or entities; (ii) the Electronic Money will not accrue interest and (iii) the Electronic Money is not a deposit and is therefore not covered by the Financial Services Compensation Scheme but it is held by us and protected in the relevant Safeguarded Account
  • You may hold Electronic Money and we may hold funds corresponding to your Electronic Money indefinitely. However, if we hold Electronic Money for you for more than two years without any activity on the account, we shall use reasonable endeavours to contact you to redeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.
  • We accept no responsibility in the event that you send money to the incorrect account.
  • We do not accept cash or cheques. We accept monies via a variety of methods of electronic funds transfer to our bank account, the details of which we shall provide to you upon request.
  1. GENERAL LIMITATION OF LIABILITY
  • Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.
  • Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.
  • Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.
  1. COMPLAINTS
  • If you feel that we have not met your expectations in the delivery of our Services, in the first instance contact the Customer Services of Saurus using the contact email address for complaints set out in clause 11 of their Term and Conditions. If the Customer Services of Saurus does not deal with your complaint adequately, please contact us via email to [email protected].
  • We have internal procedures for handling complaints fairly and promptly in accordance with the Financial Conduct Authority’s requirements. A copy of our complaints procedure is available upon request.
  • If you are an eligible complainant you may be able to take your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and information on the procedures involved are available from http://www.financialombudsman.org.uk. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.
  1. ESTABLISHING YOUR IDENTITY
  • To comply with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and EU Wire Transfer Regulations (Regulation (EU) 2015/847) and related regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity in our records from time to time. If satisfactory evidence is not promptly provided to us we cannot accept your instructions.
  • We may keep records of the contents and results of any searches that we carry out on you in accordance with all current and applicable laws. You acknowledge that us carrying out an electronic verification check or, if required, a credit reference agency check will leave a soft footprint on your credit history.
  • We are obliged to report any reasonable suspicions about activities on the electronic accounts to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.
  • The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment.  Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found in our privacy policy. 
  1. TERMINATION
  • When we may terminate or suspend this Agreement.
  • We can terminate this Agreement at any time:
  • If you breach this Agreement; and/or
  • if we suspect that you are using the Services for any illegal purposes.
  • We may suspend or terminate your access to the Services where we have reasonable grounds for concern relating to: (i) the security of your account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).
  • If Rewire Holding LTD notifies us that its agreement with you has terminated we can terminate this agreement with immediate effect.
  • If you terminate your agreement with Rewire Holding LTD or that agreement is terminated, we can terminate this Agreement with immediate effect.
  • If our agreement with Rewire Holding LTD terminates, we will give you not less than two (2) month’s written notice to terminate this Agreement.
  • We may terminate this Agreement at any time and for any reason by giving you not less than two (2) month’s written notice.
  • When you may terminate this Agreement. You can terminate this Agreement at any time and for any reason by cancelling your agreement with Rewire Holding LTD. We may contact you to confirm your request.
  • Effect of Termination. Upon the effective date of termination:
  • you will no longer be able to avail yourself of the Services;
  • we shall redeem any Electronic Money we hold for you and send the equivalent funds to a bank account in your name, unless agreed by both parties, less any monies which are due and owing to us.
  • After termination, you may contact us using the contact details set out in clause 2.3 to redeem any Electronic Money you still hold with us.
  1. CONFIDENTIALITY

We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:

  • To our employees, officers, representatives or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives or advisers to whom we disclose your confidential information comply with this clause; and as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
  1. HOW WE MAY USE YOUR PERSONAL INFORMATION
  • How we may use your personal information. We will only use your personal information as set out in our privacy policy which can be found https://railsbank.com/payrnet. (Payrnet is a wholly owned subsidiary of Railsbank Technology Limited).
  1. GENERAL
  • Recording of telephone conversations. We may record telephone conversations with or without use of a warning tone and we may use these recordings as evidence for a particular purpose or in relation to disputes as well as for our ongoing quality control and training programme. We may also maintain a record of all emails sent by or to us. All those recordings and records will be maintained at our absolute discretion and are our property and can be used by us in the case of a dispute. We do not guarantee that we will maintain such recordings or records or be able to make them available to you. You consent to the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.
  • Ensuring this Agreement is legally enforceable. For a contract to be legally enforceable, there needs to be an offer, acceptance and consideration. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer. In order to ensure that this Agreement is legally binding, upon you becoming a client, you promise to pay us the sum of onePound sterling, upon demand from us, as consideration.
  • Even if we delay in enforcing under this Agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
  • What if something unexpected happens? We shall have no liability to you under this Agreement or any Contract if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lockouts or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of subcontractors, provided that you are notified of such an event and its expected duration.
  • If a court finds part of this Agreement illegal, the rest will continue in force. Each of the subclauses, clauses and paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining subclauses, clauses and paragraphs will remain in full force and effect.
  • We are not partners and neither of us may act as the other’s Distributor. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorise either party to act as Distributor for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
  • We can make amendments to this Agreement. We shall have the right to make such amendments to this Agreement, via Rewire Holding LTD, as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement. Such amendments may be made at any time upon as much notice as possible to you and shall take effect following such notice, if any. If you object to the proposed amendments, you have the right to terminate this Agreement without charge before the date proposed by us for the entry into force of the changes. You will be deemed to have accepted the proposed amendments unless you notify us and terminate this Agreement before the date proposed by us for the entry into force of the changes. If we receive no objection from you, such amendments shall take effect from the date specified by us but may not affect any rights or obligations that have already arisen and will not be retrospective.
  • What happens if you are jointly a client of ours with another person? Where you comprise two or more people, each person will be jointly and severally liable to us in respect of all obligations contained in this Agreement. 
  • Can you obtain a copy of this Agreement or additional information? You may request and we shall provide a copy of this Agreement and any information set out in Schedule 4 of the Regulations (if relevant) at any time prior to termination of this Agreement.
  • We may transfer this agreement to someone else. We may transfer our rights and obligations under this Agreement to another organisation without your consent. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.
  • You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.
  • Nobody else has any rights under this Agreement. This contract is between you and us. No other person shall have any rights to enforce any of its terms.
  • Which laws apply to this Agreement and where you may bring legal proceedings. These terms are governed by English law and you can bring legal proceedings in respect of the products in the English courts. If you live in Scotland you can bring legal proceedings in respect of the Services in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of the Services in either the Northern Irish or the English courts.

Copyright © 2020 - 2022 Saurus.com

Saurus.com acts as a Distributor of PFS Card Services (Ireland) Limited, trading as PCSIL, a company authorised and regulated as an issuer of electronic money by the Central Bank of Ireland under registration number C175999. Registered office: Front Office, Scurlockstown Business Park, Trim, Co. Meath, C15 K2R9. Company Registration Number: 590062.The Saurus.com Prepaid Mastercard is issued by PFS Card Services (Ireland) Limited pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Saurus.com (Rewire Holding LTD) acts as a Distributor of Payrnet limited, a company registered in England and Wales authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution with register reference 900594 and registered office at: Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX.

Welcome to the new generation

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Welcome to the new generation

Click on the icon to download the Saurus app