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These legal terms are between you and Paywicks (Paywicks/us/we) and you agree to them by using the Paywicks app. Your Paywicks account is a personal current account.
You can contact us through the Paywicks app. In the meantime, you can go through the FAQ resource.
Using the Paywicks app, email, phone, or mail to your home address, we’ll:
Contact you in English or any supported language
Send you any items, agreements, statements, and other notices.
We also send you instant notifications when you spend or receive money. If any of your contact details change, including moving abroad, you must let us know as soon as possible.
Using the Paywicks app, email, phone, or mail to your home address, we’ll:
Your Paywicks current account operates as your single payment account. Money in Pots doesn’t form part of your main available balance. This means that we’ll reject a payment if you don’t have enough main available balance, even if you have money in Wallets.Some transactions that would take your balance below zero may still go through, including. If that happens, we’ll let you know the amount you’ll need to repay before the end of the day and you’ll need to pay us back as soon as possible.If you agree to pay for products like Paywicks Premium, you must have enough money in your account to make the monthly payments. If you don’t, those fees may still go through and take you into an arranged or unarranged overdraft as explained.
If you go over your arranged overdraft limit, or we haven’t agreed on an overdraft limit with you and your balance goes below zero, we call this an ‘unarranged’ overdraft. We’ll charge an interest rate of 33.4% per year (variable) which is equivalent to a rate of 39% EAR (variable). The monthly cap on unarranged overdraft charges for your current account is £15.50. It’s best not to spend long in an unarranged overdraft. We’ll calculate any interest based on how much you’re overdrawn by at midnight Universal Time Coordinated (UTC) each day, and charge your account on the first day of each month.
When we calculate the amount you’re overdrawn by, we’ll exclude any money you’ve agreed to put aside in ‘Wallets’. Money in Wallets isn’t part of your main available balance, so you can still go overdrawn even if you have money in Wallets. Wallets are a way to segregate your money and keep it aside from your main available balance. We’ll decline any payments (including standing orders and Direct Debits) that would take you over your main available balance unless you have an overdraft.
Your instructions are unclear
We suspect criminal activity on your account
We’re not legally allowed to make the transfer
It goes over your payment limits (you’ll find these in your app; they’ll change over time).
If we block a payment, we’ll let you know as soon as possible, using one of our usual channels.
You can find information on all your transactions in your feed and your regular bank statements in the app.
You might miss Paywicks charges or overdraft repayments, break your credit agreement or not repay when we ask you to. If this happens, we have the right to reduce or pay off a debt you owe us using any available credit balance in your account.
There are lots of ways you can send money with Paywicks. They each work differently, and we need different information from you to make them.
Info we need to make the payment
The recipient’s name
The recipient’s account number and sort code/swift code
The account type
Either your PIN, or
A security code, or
Proving it’s you with biometrics
Once you’ve given consent, you can’t withdraw it
If you schedule a future payment, we’ll treat it as you giving consent on the payment date
Faster Payments usually go through instantly but can take up to two hours
Other bank transfers will usually take up to 1 working day but could take longer for technical, regulatory, or legal reasons.
When you add your Paywicks card to your device you’re creating a new payment instrument you can use in the same way as your physical Paywicks card. You’re responsible for making sure that nobody else has access to any device to which you’ve added your Paywicks card to. You’re also responsible for keeping your Paywicks card details safe and not sharing them with anyone else.
You can use your card or device to pay in a shop or restaurant, or anywhere else that accepts Mastercard and Visa cards.
Either your PIN, or
Your signature, or
Tapping your card or device, or
Proving it’s you with fingerprint or facial recognition
Once you’ve given consent, you can’t withdraw it
Payments usually go through instantly, but some merchants can take longer to collect your payment
You can also use your card or device to make payments online, over the phone or through the post.
Your 16-digit card number, expiry date, and 3-digit CVC
Your billing address
Confirming on the merchant’s website, or
Verbally consenting over the phone, or
Using a security code, or
In your Paywicks app with your PIN, or
Proving it’s you with fingerprint or facial recognition
Once you’ve given consent, you can’t withdraw it
Payments usually go through instantly, but some merchants can take longer to collect
Spending with your Paywicks card is free anywhere around the world and should work anywhere that accepts Visa or Mastercard. When you make a payment in a foreign currency or take out cash abroad, we use Visa’s or Mastercard’s exchange rate with a 0.0% fee. We may allow you to make international payments through third parties. The exchange rate that will apply to payments through third parties will be in your Paywicks app.
We’ll treat any instruction from a third party provider to check your account information or make payments from your account as if it were coming from you. We may block a third-party provider from accessing your account if we think that they’re acting without your permission or are fraudulent. We’ll tell you if we do this (unless we’re not allowed to by law or it would impact the security measures we have in place to keep your account safe).
We won’t charge you for withdrawing money from an ATM if you meet the Fee Criteria listed in our Fees and charges section below at the time you make the withdrawal.If you have both a Paywicks personal and Paywicks joint account, you have one fee-free ATM allowance across both.
If you’re under 18 you won’t be able to apply for an arranged overdraft or a loan and we won’t charge any fees if you go into an unarranged overdraft. You also won’t be able to make some payments for things like gambling. From the age of 18, we’ll charge you at the current rate if you use an unarranged overdraft.
By accepting these terms, you agree to us using your information to make and receive payments on your account. If you’re no longer happy for us to use your information, we’ll have to close your account. But we may keep your personal data and use it where we have lawful grounds to do so. For example, any records we need to keep for regulatory reasons.
You may have to pay other costs, taxes, or charges in relation to your Paywicks account, which is outside of our control and not charged by us. For example, other banks may charge you for sending money to your Paywicks account.
The for your current account is £15.50.
At least a sum of $200 was actively transacted in your Trimium account/wallet over the last rolling 30-day period.
We’ll tell you in these terms and conditions where fees won’t apply if you meet the Fee Criteria.
We’ll never charge you for replacements where your card expires, is faulty when you receive it, has been stolen, has been swallowed by an ATM, or if we’ve canceled your card because we’re concerned about fraud.
But we do charge a fee for replacement cards for other reasons (including if you lose your card or if it stops working because you damaged it). You’ll get up to two replacement Paywicks cards per account per year for any reason without paying the fee if you meet the Fee Criteria when you order a replacement card.If you need us to post your replacement card somewhere outside the registered country of residence, we’ll charge you the international card fee of £30 in all circumstances.
Sometimes we’ll offer rewards for things like inviting friends to join Paywicks or switching to Paywicks using the Current Account Switching Service (CASS). We can withdraw or change these offers at any time, without letting you know in advance. You’ll only get financial awards once per action (for example you’ll only get a bonus for CASS switching once, or once per friend you invite). You might have to pay income tax on the money you get as part of these rewards. Contact the relevant authority if you’re unsure.
English law applies to this agreement and disputes will be settled by English courts. Please keep your phone, card, PIN, and security details safe at all times. If we find any security issues affecting your account, we’ll contact you as soon as possible in the most secure way, using one of our usual channels.If you lose your card or see transactions in the app that look wrong, you must freeze your card and tell us as soon as possible. If you don’t let us know within 12 months from the date the money leaves your account you might not be able to get the money back.
If someone pays money into your account by mistake you give us permission to return it. If you’ve used your card to make a payment that didn’t specify the exact amount (for example when hiring a car), and the final amount is higher than you could reasonably have expected, we’ll give you a refund. You’ll need to tell us within eight weeks of the transaction and give us any information we reasonably ask for to investigate. You’re responsible for making sure that your device can run the Paywicks App (which we’ll update from time to time). Sometimes important information won’t show correctly on older operating systems. We also can’t guarantee that all features in your Paywicks app will work as expected on older operating systems.
Since you’re only allowed to use your account for personal use, we’re not responsible to you for any loss of profit, loss of business, business interruption, or loss of business opportunity. This applies to you using your account for personal use, as well as if you wrongly use it for commercial or business purposes.
None of these terms affect your legal rights as a consumer. You can find more information on the Competition and Markets Authority’s or Financial Ombudsman Service’s websites. These terms don’t exclude or limit our liability to you where it’s against the law for us to do so.
We’re responsible to you for any foreseeable loss and damage which we cause. When we say ‘foreseeable’, this means we could or should have expected those losses. This includes if we breach the terms of this contract or fail to use reasonable care or skill in providing services to you. For example, we’ll usually refund your money if:
It was taken after you froze your card in the app unless you acted fraudulently
We should’ve applied strong customer authentication but we didn’t unless you acted fraudulently
Someone makes a payment without your permission.
We’ll also refund any money you lose if we make mistakes with your payments. We can help by speaking to other banks to make sure they treat any payment we send late as if it was sent on time.
Examples of when you won’t be able to claim back money you’ve lost may include if:
You gave us incorrect instructions or we can prove that the bank we sent your payment to received it (although we’ll still try to help you recover your money)
You purposefully didn’t keep your phone, card (including virtual card), PIN, or other security details safe, you were very negligent in not keeping them safe, you gave them to someone else, or your account is overdrawn
You acted fraudulently.
We’re not responsible for any loss or damage (direct or indirect) caused by something beyond our reasonable control. We’re also not responsible for any loss or damage (direct and indirect) if something was unavoidable despite our using reasonable care and skill to avoid it.
This may include:
Hardware breakdowns
Actions or decisions taken to comply with legal or regulatory requirements
Delays or failures caused by third-party industrial action
Problems with a third-party system or network (including power outages
Data-processing failures.
So you won’t be able to claim back the money you lost if your losses resulted from circumstances that we couldn’t or shouldn’t have been expected to know about.
Once this agreement has started it won’t end until you or we end it. You can cancel your account within the first 14 days of opening it or close it at any other time. If you’d like to, please get in touch with us. You’ll need to repay any money you owe us before we can close your account. Once we’ve closed it, your card won’t work and you won’t be able to access your account. You’ll lose access to any Paywicks features, except for special offers you’ve already taken out with other providers.
We can close your account by giving you at least two months’ notice. We may close your account or stop you from using your card and the app immediately if we believe you’ve:
Broken the terms of this agreement
Put us in a position where we might break the law
Broken the law or attempted to break the law
Given us false information at any time
Had a change in circumstances which means you’re no longer eligible for a current account
Given a third-party control of your account, phone, card, or PIN (unless you’ve formally agreed to this with us or are legally permitted to do this)
Been abusive to anyone at Paywicks or a member of our community.
If you have a complaint, please contact us and we’ll do our best to fix the problem. If you’re still not happy, you may be able to refer your complaint to the Financial Ombudsman Service and/or the Financial Conduct Authority.
This agreement will always be available in the app and on our website. We can make changes from time to time to our charges, interest rates, or the terms of this agreement or the terms of any other agreement to which these terms apply. This includes introducing new charges or rates and charging in a different way. We may make these changes, including fees we charge, because of changes to:
Law, regulation, industry codes or Financial Ombudsman, court, or regulator decisions
The way we run our business
The cost of providing your account and running our business, for example, a change in our cost of funding, technology (including our systems), and service costs
The way we need to charge for our products or services, for example, if we change our prices to make our business more sustainable or profitable
The banking or financial services system.
We can make favorable changes to these terms and charges for any reason. We can also make proportionate changes for any other balanced and valid reason that impacts us or your account.
If we make changes that are clearly in your favor, we’ll tell you once we’ve made them. Otherwise, we’ll give you two months’ notice and tell you our reasons in the most secure way, using one of our usual channels.
If you don’t agree to these changes, you can let us know and we’ll close your account fee-free. We’ll transfer any money in the account to another account of yours, and you’ll need to pay back any money you owe us. If we don’t hear from you before the changes come into effect, we’ll assume that you’re happy and accept the changes we’ve made.
Paying with our app means you don’t have to handle cash or credit cards when you pay. Open the Paywicks app, pay—and go. Simple.
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