Hi Chris,
We would like to inform you that we will be making some changes to our Terms and Conditions. We are also further developing our service to better adapt it to the needs of our customers across Europe. This includes the introduction of European account numbers (IBAN).
Updated Terms and Conditions
The updated version of our Terms of Service, which you can find here, will come into effect on September 30, 2019. We provide you with an overview of the most important changes below, so that you know exactly what is changing:
�You will soon be able to make direct debits with your Monese EUR account!
�Our licensed partner (the issuer of e-money for your Monese account, Prepay Technologies Ltd �PPSUKPPS UK�) has created a new entity in Belgium called PPS EU SA. This will transfer your Monese Euro account from PPS UK to PPS EU SA. This is how we guarantee that we can provide our services unchanged even after a possible Brexit.
�If you also have a GBP account, this will continue to be issued by PPS UK for the time being, in accordance with UK Financial Conduct Authority regulations
�We have made several changes to our Terms of Service to make them clearer and easier to understand
What does the transfer to an EU unit mean for me?
one concern, there is no change to how your Monese account and card work; this stays exactly the same. You can continue to use your Monese card as usual. You also continue to have the same rights and there will be no increase in your current fees. Your Monese Euro account will in future be regulated by the National Bank of Belgium and you will have the right to lodge a complaint with the Belgian authorities. PPS EU SA keeps your money safe in EU bank accounts.
What are the associated benefits?
At the end of September we will provide you with a new account number (IBAN) for your EUR account. Your current IBAN account number will continue to work. This means that you receive money, transfers and payments in your current IBAN account and your future one. This means that you will continue to receive money, transfers and payments to your current IBAN account number.
One of the advantages of your new IBAN is the fact that you can carry out direct debits with your EUR account in the future. Direct Debit is a simple and convenient way to pay bills with your Monese account. Direct debits give you the certainty that your bills will be paid on time and that you will not miss any deadlines.
When will the changes to my terms and conditions take effect?
You do not need to take any action to agree to these new Terms and Conditions. By continuing to use your Monese account or card after September 30, 2019, you will be subject to these new Terms and Conditions. If you have any concerns, please contact us within 2 months of receiving this email.
Would you like to find out more?
More information about transferring to an EU entity can be found here. To ask? Then don't hesitate to contact our customer support.
Other changes that might interest you
Nothing has changed about how we use your data. The changes make our privacy policy easier to understand - clear, plain language and to the point.
The new privacy statement is available in all 12 languages supported by the Monese app. You can find them in the Monese app and at monese.com/privacy.
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