The ecoVirtualcard, powered by MasterCard®, Terms and Conditions

These terms and conditions apply to your ecoVirtualcard. You must read them carefully. In these terms and conditions "you" means the named ecoVirtualcard holder and the authorised user of the ecoVirtualcard. "We", "us" or "our" means PSI-Pay Ltd. “Website” means our website at

1. Your ecoVirtualcard

You can use the ecoVirtualcard at any online location that displays the MasterCard® acceptance mark including making purchases using the telephone. Before using the ecoVirtualcard you need to make sure you have sufficient funds on your ecoAccount. You will not be able and should not attempt to use your ecoVirtualcard after its expiry date. To be issued with a replacement ecoVirtualcard you will need to cancel your existing ecoVirtualcard and apply for a new one.

Your ecoVirtualcard is not a credit card and can only be connected to your bank account for the purposes of loading the card. You will not earn any interest on any funds loaded on your ecoVirtualcard.

2. Applying for and activating your ecoVirtualcard

To be eligible to apply for our ecoVirtualcard you must be at least 18 years old, an ecoAccount holder and resident in any country that PSI-Pay provides this service. We will also require evidence of who you are and your address. We may ask you to provide some documentary evidence to prove this and/or we may carry out checks on you electronically.

Please refer to our Website ( or for all ecoVirtualcard loading options, or refer to the “Loading your ecoVirtualcard” section below.

By using the ecoVirtualcard you are agreeing to these terms and conditions.

3. Loading your ecoVirtualcard

Funds can be loaded onto your ecoVirtualcard through your ecoAccount. Simply follow the instructions on the website.

Funds loaded and spent using the ecoVirtualcard will be debited from your linked ecoAccount. The balance on your ecoVirtualcard can never exceed the maximum initial load, at any time. We reserve the right to refuse to accept any particular loading transaction.

Upon receipt, your funds will be available for use without delay. Your ecoVirtualcard is not reloadable and is for single use only. Once used it will expire and you will need to apply for a new ecoVirtualcard.

4. Using your ecoVirtualcard

Detailed instructions on how to use your ecoVirtualcard are found on our website. You will need to follow these instructions when using your ecoVirtualcard.

We will deduct the value of your transaction from the balance on your ecoVirtualcard. We will also deduct any applicable fees as soon as they become payable by you, see our Fees section below for details of our fees.

The ecoVirtualcard belongs to us. We may ask you to refrain from using your ecoVirtualcard or cancel it. We may at any time suspend, restrict or cancel your ecoVirtualcard or refuse to issue or replace it for reasons relating to the following:

  • we are concerned about the security of your ecoAccount or ecoVirtualcards we have issued to you;
  • we suspect your account is being used in an unauthorised or fraudulent manner;
  • or we need to do so to comply with the law.

If we do this, we will tell you as soon as we can or are permitted to do so after we have taken these steps.

We reserve the right to impose restrictions at the point of sale where we believe that either your or our security can be compromised.

Like similar payment card products we cannot guarantee a retailer will accept your ecoVirtualcard purchase. We may also refuse to pay a transaction:

  • if we are concerned about security of your ecoVirtualcard or we suspect your ecoVirtualcard is being used in an unauthorised or fraudulent manner;
  • if sufficient funds are not loaded on your ecoVirtualcard at the time of a transaction to cover the amount of the transaction and any applicable fees;
  • if there is an outstanding Shortfall on the ecoVirtualcard in accordance with condition 12;
  • if we have reasonable grounds to believe that you are acting in breach of this agreement;
  • if we believe that a transaction is potentially suspicious or illegal (for example, if we believe that a transaction is being made fraudulently); or
  • because of errors, failures (whether mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing transactions.

If we refuse to authorise a transaction, we will, if practicable, tell you why immediately unless it would be unlawful for us to do so. You may correct any information we hold and which may have caused us to refuse a transaction by contacting us on

5. Authorising Transactions

Subject to the features of the particular ecoVirtualcard, the authorisation of a transaction can include authorising any single transaction, a series or recurring transactions (including transactions for an indefinite period) or pre-authorising future transactions of a certain or uncertain amount.

An ecoVirtualcard transaction will be regarded as authorised by you where you provide the ecoVirtualcard details and/ or provide any other details as requested.

Authorisation for a transaction may not be withdrawn (or revoked) by you after the time it is received. However, the following transaction type may be withdrawn if you give notice to the supplier (providing a copy of the notice to us):

  • any transaction which is agreed to take place on a date later than the date it was authorised as long as notice was provided no later than the close of business on the business day before it was due to take place;
We may charge you a fee if a transaction is revoked by you under this condition, please see our fees table in section 12 below.

We will pay the funds required by the retailer or merchant to cover the transaction authorised by you within 3 days of us receiving their request. A transaction (the payment order) will be received as follows:

  • for purchases, at the time we receive the transaction instruction from the merchant acquirer;
  • for transactions which are communicated directly to us, at the time you ask us to complete the transaction.
  • If, in relation to:
    • purchases, we receive the transaction instruction from the merchant acquirer; or
    • transactions communicated directly to us, you ask us to complete the transaction after 3pm GMT, the transaction instruction or request will be deemed to have been received by us on the following business day.

6. Cancellation and expiry of your ecoVirtualcard

This agreement will continue indefinitely unless terminated. You have a legal right to cancel your ecoVirtualcard up to 14 days after you receive the ecoVirtualcard without being charged the Redemption Fee – this 14 day period is known as the “Cooling-Off Period”. Under these terms and conditions, you also have the right to cancel your ecoVirtualcard at any time after the 14 day Cooling-Off Period without notice and any funds remaining on your ecoVirtualcard will be returned to you within 5 days subject to satisfactory checks being completed.

We may also cancel your agreement for any reason by giving you at least 2 month's notice:

  • if this agreement or your card expires on a set date and we have not agreed to renew this Agreement;
  • if you break an important part of this agreement, or repeatedly break the agreement and fail to resolve the matter in a timely manner;
  • if you act in a manner that is threatening or abusive to our staff, or any or our representatives;
  • if you fail to pay fees or charges that you have incurred or fail to put right any shortfall;
  • in the event of your death.

We may also cancel this agreement or suspend your card or account immediately if we believe your ecoVirtualcard is deliberately being used by you to commit fraud or for other illegal purposes. If we do this we will tell you as soon as we are permitted to do so.

If we cancel your ecoVirtualcard you must tell us what you want us to do with any unused funds within 3 months of the date we tell you your ecoVirtualcard is cancelled. We can return the funds to the loading source, to a bank account in the same name as the ecoVirtualcard or we can issue a cheque for your refund. Please note we will need to verify your identity in order to satisfy Anti Money Laundering requirements. If we receive no contact within three months, the funds will be returned to the loading source.

If your ecoVirtualcard is cancelled, it will immediately expire.

You will not be entitled to a refund of money you have already spent on transactions authorised, or pending or any fees for use of the ecoVirtualcard before the ecoVirtualcard is cancelled or expires. You can cancel your ecoVirtualcard by sending an email to us using the “contact us” function on the Website, and confirming that you have destroyed your ecoVirtualcard.

If you cancel your ecoVirtualcard, once the transaction and fees have been deducted, all unused funds will be refunded to your ecoAccount. “Your Rights to Redemption of Funds and Refunding of Transactions on your ecoVirtualcard” section below for further information. A Redemption Fee may be charged (see Fees section below) unless you have arranged to transfer any unused funds to another payment card managed by us, or you cancel your ecoVirtualcard within 14 days of receiving it.

Your ecoVirtualcard will be valid for 1 year.

Shortly before expiry of your ecoVirtualcard, we will contact you to ask whether you require a replacement card. If you promptly confirm to us that you wish to receive a replacement card, then subject to receiving acceptable evidence of identity from you, we will issue a replacement card before expiry of your card.

When we issue a replacement ecoVirtualcard we may charge a fee. Please see section 12 for a summary of fees.

7. Keeping your ecoVirtualcard secure

You should treat your ecoVirtualcard like cash. If your ecoVirtualcard details are lost or stolen, you may lose some or all of your money on your ecoVirtualcard, in the same way as if you lost cash or a card in your wallet or purse. As a result, you must keep your ecoVirtualcard details safe and not let anyone else use them.

We recommend that you check the balance on your ecoVirtualcard regularly online at the Website. We will provide you with your ecoVirtualcard balance and a statement of recent transactions either by electronic means or on our secure webpage at any time. Your statement will show:

  • information relating to each ecoVirtualcard transaction which will enable it to be identified;
  • the amount of the ecoVirtualcard transaction shown in the currency in which the transaction was paid or debited to the account;
  • the amount of charges for the transaction;
  • the date the transaction is authorised or posted on to the account.

8. Lost and stolen ecoVirtualcard and unauthorised or incorrectly executed payments

You must tell us without undue delay by calling us on our 24 hour lost and stolen card helpline +44 (0) 871 898 1012 if you know or suspect that the ecoVirtualcard details are lost or stolen, or that the ecoVirtualcard details are known to an unauthorised person, or if you think a transaction has been incorrectly executed.

We will refund any incorrectly executed transaction immediately unless we have any reason to believe that the incident has been caused by a breach of this agreement, gross negligence or we have reasonable grounds to suspect fraudulent activity.

However, if the investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence (for example by failing to keep your ecoVirtualcard details secure), you may be liable any loss we suffer because of the use of the ecoVirtualcard.

9. Our liability

We will not be liable for any loss arising from:

  • any cause which results from abnormal or unforeseen circumstances beyond our control, consequences which would have been unavoidable despite all our efforts to the contrary; or
  • a retailer refusing to accept your ecoVirtualcard; or
  • our compliance with legal and regulatory requirements;
  • loss or corruption of data unless caused by our wilful default.
We are also not liable for:
  • business interruption, loss of revenue, goodwill, opportunity or anticipated savings;
  • any indirect or consequential loss.

10. Your Rights to Redemption of Funds and Refunding of Transactions on your ecoVirtualcard

Redeeming the funds on your ecoVirtualcard

You have the right to redeem the funds on your ecoVirtualcard at any time in whole or in part. To do so, please send us an e-mail using the "contact us" facility on the Website, requesting redemption and indicating the amount to be redeemed.

When we process your redemption request, we may require you to provide us with documents such as identification so that we may process your request in accordance with legal requirements. We may also charge a redemption fee if one of the following circumstances applies:

  • You are requesting redemption before termination or expiry of this agreement;
  • You cancel this agreement before any agreed termination or expiry date; or
  • You request redemption more than one year after the date of termination or expiry of this agreement.

Please see section 12 for a further information concerning fees including redemption fees.

We will not redeem the value of the funds on your card to you if your request for redemption of the funds is more than six years after the date of termination or expiry of this agreement.

Refunding Transactions

You may be entitled to claim a refund in relation to transactions where:

  • the transactions was not authorised under this agreement;
  • we are responsible for a transaction which was incorrectly executed notified us in accordance with section 8 above;
  • a pre-authorised transaction did not specify the exact amount at the time of its authorisation and the amount charged by a supplier is more than you or an additional ecoVirtualcard holder could reasonably have expected taking into account normal spending patterns on the ecoVirtualcard or the circumstances of the transaction;
  • A claim for a refund in the circumstances set out above will not be accepted if the amount of the transaction was made available to you at least 4 weeks before the transaction date or it is made more than 8 weeks after being debited to your account;
  • We were notified of the unauthorized/incorrectly executed transaction within 13 months of the debit date.

11. Changes to these Terms

We may change these terms at any time by notifying you by e-mail or other agreed means at least 2 months before the change is due to take effect. The up-to-date version of the ecoVirtualcard terms and conditions will always be available on the Website. The change will automatically take effect and you will be taken to have accepted the notified change unless you tell us that you do not agree to the change. In that event, we will treat that notice as notification that you wish immediately to terminate this agreement. In such circumstances we will refund any balance on the card in accordance with section 10 above and you will not be charged a Refund Fee.

We may make immediate changes to the exchange rate used to convert foreign transactions into Sterling. For all transactions made in a foreign currency you can find out what the applicable exchange rate was at the time of the transaction via the MasterCard website.

12. Fees and Usage Restrictions

We do not charge any fees for checking your online balance and transactions. However, for details on all fees that do apply to the ecoVirtualcard please refer to our fees and limits page.

If we decide to increase or impose any new fees, we will tell you by e-mail, text, or post, at least two months before any changes take effect. Authorisation will be requested for all transactions at the time of each transaction. In the unlikely event, for any reason whatsoever, a transaction is completed when there are insufficient funds on the ecoVirtualcard for that transaction (a "Shortfall"), the Shortfall shall be reimbursed by you unless it is due to an error on the part of the retailer where the ecoVirtualcard was presented, in this circumstance we may seek the Shortfall from the retailer.

You agree that once we make this Shortfall known to you, we may charge you for the Shortfall amount. We may charge the amount of the shortfall from any other payment cards that you hold with us, to any other payment method which you may designate at that time, or against any funds which you may subsequently load onto your ecoVirtualcard or on any additional payment card ordered by you. Until we are reimbursed the Shortfall amount, we may suspend your ecoVirtualcard and any additional payment cards connected to you. In addition, we reserve the right to charge you an Administration Fee for each transaction that you make using your ecoVirtualcard that results in a Shortfall or increases the Shortfall amount on your ecoVirtualcard.

13. Your Details

You must let us know as soon as possible if you change name, address, phone number or e-mail address. If we contact you in relation to your ecoVirtualcard, for example, to notify you that we have cancelled your ecoVirtualcard or to send you a refund by cheque, we will use the most recent contact details you have provided to us. Any e-mail to you will be treated as being received as soon as it is sent by us. We will not be liable to you if your contact details have changed and you have not told us.

14. Data Protection

In purchasing the ecoVirtualcard on the Website and using it, you agree that we can use your personal information in accordance with our Privacy Policy. Our Privacy Policy is set out on our Website, it includes details of the personal information that we collect, how it will be used, and who we pass it to. You can tell us if you don't want to receive any marketing materials from us.

15. Disputes with Retailers

If you have any disputes about purchases made using your ecoVirtualcard, you should settle these with the person you bought the goods or services from. We are not responsible for the quality, safety, legality or any other aspect of any goods or services purchased with your ecoVirtualcard. Remember that once you have used your ecoVirtualcard to make a purchase we cannot stop that transaction.

16. Communication

If you have an enquiry relating to your ecoVirtualcard, you can use the "Contact Us" facility on the website. We will deal with your enquiry promptly. If you do not wish to enquire in this way you can alternatively call our customer service telephone line on + 44 (0) 871 898 1012 or if your ecoVirtualcard details have been lost or stolen on +44 (0) 871 898 1012. The customer services telephone line is a chargeable service. Calls cost 25p per minute from a fixed BT landline. Call costs from other networks may vary.

17. Complaints

The ecoVirtualcard programme is managed by PSI-Pay Ltd. If you are unhappy in any way with your ecoVirtualcard or the way it is managed, tell us by using the e-mail enquiry facility on the Website so we can investigate the circumstances for you. Any complaints you have will be dealt with quickly and fairly. You may be able to take unresolved complaints to the Financial Ombudsman Service at Exchange Tower, London E14 9SR. Telephone: 0800 023 4567 and e-mail:

18. Compensation

The ecoVirtualcard is an electronic money product and although it is a product authorised by the Financial Conduct Authority, it is not covered by the Financial Services Compensation Scheme. No other compensation scheme exists to cover losses claimed in connection with the ecoVirtualcard. This means that in the unlikely event that PSI-Pay Ltd becomes insolvent your funds may become valueless and unusable and as a result you may lose your money.

19. Assignment

We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you 2 months prior notice of this. If we do this, your rights will not be affected.

20. Transfer to a new Payment Card

We may transfer your unused balance to an equivalent payment card provided by a payment card issuer other than PSI-Pay Ltd at any time. Before we do this, we will give you 2 month's notice of the new arrangements and the new payment card terms and conditions. Unless you advise us within the 2 month period that you do not want an equivalent payment card from the new issuer, you agree that we can automatically transfer the unused balance on your ecoVirtualcard to an equivalent payment card provided by the new issuer.

21. Governing Law

This Agreement is concluded in English. All communications with you will be in English. These terms and conditions will be construed in accordance with English law.

22. Fund Protection

As a responsible e-money issuer, PSI-Pay Ltd ensures that once it has received your funds they are deposited in a secure account, specifically for the purpose of redeeming transactions made by your ecoVirtualcard. In the event that PSI-Pay Ltd becomes insolvent funds that you have loaded which have arrived with and been deposited by PSI-Pay Ltd are protected against the claims made by creditors.

23. ecoVirtualcard Issuer

MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. Your ecoVirtualcard is issued by PSI-Pay Ltd whose registered address is Afon Building, Worthing Road, Horsham, West Sussex, RH12 1TL, England. PSI-Pay Ltd is authorised by the Financial Conduct Authority under the Electronic Money Regulations (register reference 900011) for the issuing of electronic money. Your ecoVirtualcard is the property of PSI-Pay Ltd and is not transferable to anyone else.