REDEEMING E-MONEY Clause Samples
The 'Redeeming E-Money' clause defines the process by which users can convert their stored electronic money back into traditional currency. Typically, this clause outlines the steps a user must follow to request redemption, any applicable fees, and the timeframe within which the funds will be transferred to the user's bank account or other withdrawal method. Its core function is to ensure users have a clear and reliable mechanism for accessing their funds, thereby building trust and transparency in the use of e-money services.
REDEEMING E-MONEY. 9.1 If you would like to terminate your Card and redeem any unused funds before the expiry of the Card, you can do so via your Account. We reserve the right to charge a Redemption Fee (see 13.1) or the total Available Balance if equal to or lower than the Redemption Fee (see 13.1) to cover redemption costs if you redeem all of your balance at the following times:
9.1.1 Subject to clause 9.1.2, before the expiry date of your Card or replacement Card;
9.1.2 before we (including upon reasonable request by UW, except where not permitted by law or regulation) terminate this Agreement; or
9.1.3 more than 12 months after:
i. your Card or replacement Card expires; or
ii. this Agreement is terminated,
iii. You will be reminded of this fee before redemption.
9.2 You may redeem funds as long as;
9.2.1 we believe you have not acted fraudulently; and
9.2.2 we are not prohibited from doing so by any applicable law, regulation, court order or instruction or guidance of a competent regulatory authority or agency.
9.3 All redemptions will be paid to you where possible via a refund to the original card(s) used to top up, otherwise, as a credit to your monthly bill.
9.4 If we find that any additional withdrawals, fees or charges have been incurred on your Card following the processing of your redemption funds, then we shall send an itemised invoice to you and will require you to refund them within 14 days of receiving the invoice. Should you not repay this amount within 14 days of receiving an invoice from us then we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding.
9.5 If your Account has had 60 continuous days without any transactions, then we reserve the right to proactively redeem your funds, inline with clause 9.3.
9.6 If your Account has had 60 continuous days without any transactions, we reserve the right to terminate your Account on a minimum of 7 days notice.
REDEEMING E-MONEY. You may redeem all or part of any E-Money held in your E-Money Wallet at any time by selecting the relevant option in the Site and following the instructions. Unless agreed otherwise, funds will be transferred to the bank account you have registered with us. If this Agreement is terminated, we will redeem any E-Money remaining in your E-Money Wallet and attempt to transfer funds to the bank account you have registered with us. Prior to redeeming E-Money from your E-Money Wallet, we may conduct checks for the purposes of preventing fraud, money laundering, terrorist financing and other financial crimes, and as required by applicable law. This may mean you are prevented or delayed from withdrawing E-Money until those checks are completed to our reasonable satisfaction in order to comply with our regulatory requirements.
REDEEMING E-MONEY. 9.1 If you would like to terminate your Card and redeem any unused funds you will be charged a fee of £5 or the total Available Balance if lower than the redemption fee, if you redeem your balance at the following times;
9.1.1 before the expiry date of your Card or replacement Card;
9.1.2 before you or we terminate this Agreement prior to the Card expiry date;
9.1.3 more than 12 months after;
(i) your Card or replacement Card expires: or
(ii) this Agreement is terminated (as applicable). You will be reminded of this fee before redemption.
9.2 You may redeem funds as long as:
9.2.1 we believe you have not acted fraudulently; and
9.2.2 we are not prohibited from doing so by any applicable law, regulation, court order or instruction or guidance of a competent regulatory authority or agency.
9.3 Our procedures may require us to carry out various checks reasonably required to prevent fraudulent use of your Card before we can process your redemption request.
9.4 If we find any additional withdrawals, fees or charges have been incurred on your Card following the processing of your redemption funds, we'll send an itemised invoice to you and we will require you to refund us immediately after receiving the invoice. Should you not repay this amount immediately after receiving an invoice from us we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding.
REDEEMING E-MONEY. 7.1 If you would like to redeem any unused e-money held in your Wallet(s) in full or in part you may do so at any time (subject to paragraph 7.5) so as long as:
7.1.1 we believe you have not acted fraudulently, and
7.1.2 we are not prohibited from doing so by any applicable law, regulation, court order or instruction or guidance of a competent regulatory authority or agency.
7.2 You can obtain redemption of any unused funds by contacting Customer Services. You acknowledge that all redemptions will be made to you in pounds sterling regardless of the currency in which your Card is issued. The exchange rate will be the Post Office BuyBack Rate of the day and advised to you at the time of requesting the redemption. Payment will be made after any pending transactions have been charged to your Account and you agree that the transaction will be made by us up to 15 Business Days after the date of your request. You may cancel your request at any time until it is processed by us. Refunds will be returned to your registered payment card or in cash or by cheque. Restrictions apply with cash redemptions that will be advised to you at the time of requesting the redemption.
7.3 Please note, our procedures may require us to carry out various checks reasonably required to prevent fraudulent use of your Card before we can process your redemption request. Redeemed funds will only be payable to you as the Cardholder and will not be paid to a third party.
7.4 You will only ever be charged a redemption fee if when you make your request for redemption you also decide to close your Account before the expiry date stated on your Card, or if you hold multiple Cards, before the last expiry date stated on any Card you hold. Where you hold more than one Wallet the redemption fee will be payable for each redemption request that you make. See paragraph 10 for the cost of the redemption fee.
7.5 You will lose your right to redeem your e-money held in your Wallet(s) if you make your request for redemption more than 6 years from the date your Account is closed.
7.6 If we find any additional withdrawals, fees or charges have been incurred on your Card following the processing of your redemption funds, we’ll send an itemised invoice to you and we will require you to refund us within 14 Business Days of the invoice. Should you not repay this amount within 14 Business Days of receiving an invoice from us we reserve the right to take all steps necessary, including legal action, to recover any mo...
REDEEMING E-MONEY. You may redeem all or part of any E-Money held in your
REDEEMING E-MONEY. 9.1. If you would like to terminate your Card and redeem any unused funds before the expiry of the Card, you can do so by calling Customer Services. You will be charged a fee of £5 or the total Available Balance if equal to or lower than the redemption fee to cover redemption costs if you redeem all of your balance at the following times:
9.1.1. before the expiry date of your Card or replacement Card;
9.1.2. before you or we terminate this Agreement prior to the Card expiry date; or
9.1.3. more than 12 months after:
(i) your Card or replacement Card expires; or
(ii) this Agreement is terminated, You will be reminded of this fee before redemption.
9.2. You may redeem funds as long as;
9.2.1. we believe you have not acted fraudulently; and
9.2.2. we are not prohibited from doing so by any applicable law, regulation, court order or instruction or guidance of a competent regulatory authority or agency.
9.3. All redemptions will be paid to you by bank transfer.
9.4. If any additional withdrawals, fees or charges have been incurred on your Card following the processing of your redemption funds, then we shall send an invoice to you and will require you to refund them within 14 days of receiving the invoice. Should you not repay this amount within 14 days of receiving an invoice from us then we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding.
REDEEMING E-MONEY. 7.1 If you would like to terminate your Card and redeem any unused funds, you may do so as long as: (a) the Available Balance is greater than €25.00 or currency equivalent; (b) we believe you have not acted fraudulently; and (c) we are not prohibited from doing so by any applicable law, regulation, court order or instruction or guidance of a competent regulatory authority or agency.
7.2 You can obtain redemption of any unused funds by contacting the Card Support team.
7.2.1 We will charge a card closure fee as detailed in the Fees and Limits Schedule.
7.3 Please note that our procedures may require us to carry out various identity checks reasonably required to prevent fraudulent use of your Card before we can process your redemption request.
REDEEMING E-MONEY. 7.1 If you would like to redeem any unused funds on your Card you will be charged a fee to cover redemption costs on each occasion that you redeem, if you redeem all or part of your balance at the following times:
7.1.1 before the expiry date of your Card or replacement Card;
7.1.2 before you or we terminate this Agreement prior to the Card expiry date;
7.1.3 more than 12 months after:
(i) your Card or replacement Card expires; or
(ii) this Agreement is terminated, (as applicable). You will be reminded of this fee before redemption.
7.2 You may redeem funds subject to the provisions described in paragraph 7.1 as long as:
7.2.1 we believe you have not acted fraudulently; and
7.2.2 we are not prohibited from doing so by any applicable law, regulation, court order or instruction or guidance of a competent regulatory authority or agency.
7.3 You can obtain redemption of any unused funds by contacting Customer Services. You will be charged a redemption fee of £5, or the total Available Balance if lower than the redemption fee. All redemptions will be paid by cheque.
7.4 Any redemption shall be made together with a pro-rata refund of any activation fee that you may have paid in advance with respect to the Card (if applicable).
REDEEMING E-MONEY. 7.1 If you'd like to terminate your Card and redeem any unused funds, you may do so as long as:
7.1.1 we believe you have not acted fraudulently, and
7.1.2 we are not prohibited from doing so by any applicable law, regulation, court order or instruction or guidance of a competent regulatory authority or agency.
7.2 You can obtain redemption of any unused funds by contacting Customer Services or in store at a First Choice or Thomson Travel Shop, subject to an Account Closure Fee, see paragraph 11. You acknowledge that all redemptions will be made to you in pounds sterling, regardless of the currency in which your Card is denominated. If you choose to redeem unused funds then you must redeem all of those funds, there is no partial redemption available.
7.3 Please note, our procedures may require us to carry out various checks reasonably required to prevent fraudulent use of your Card before we can process your redemption request.
7.4 If we find any additional withdrawals, fees or charges have been incurred on your Card following the processing of your redemption funds, we'll send an itemised invoice to you and we will require you to refund us within 14 days of the invoice. Should you not repay this amount within 14 days of receiving an invoice from us we reserve the right to take all steps necessary, including legal action, to recover any monies outstanding.
REDEEMING E-MONEY. You may redeem all or part of any E-Money held in your E-Money Wallet at any time by selecting the relevant option in the Coinbase Site and