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Smartcash Junior Accounts

IMPORTANT NOTICE - 7th November 2024

Suits Me Limited (www.suitsmecard.com) has acquired the Engage customers, and this acquisition means your account will soon be transferring to Suits Me*. This change means there will be a new Issuer* for your card (the Issuer is the regulated entity responsible for issuing your card and account and safeguarding your funds), updated safeguarding measures, and new terms and conditions after the transfer.

What Does This Mean for You?
As required by industry regulations, Engage are providing a 2 months’ notice of a change to your current terms and conditions, which relate to the change of Issuer of your card. As part of this transition, your Engage account will move from currently being issued by Contis Financial Services Limited (“Contis”), a UK Electronic Money Institution, to being issued by IDT Financial Services Limited (“IDT”), a regulated bank licensed and registered in Gibraltar.

Choice of Account Types with Suits Me
When your account moves to Suits Me*, you’ll have a choice of three account options. Engage will initially place you on the account option they believe will be the most cost-effective for your usage. However, you can switch to a different option at any time. To ensure a smooth transition, Engage also guarantee that for the first three months after the move, if your Suits Me account incurs charges higher than what you were paying with Engage, they’ll refund the difference.

Key Information:

  • Current Issuer: Your Engage card is currently issued by Contis Financial Services Limited, a UK-based EMI regulated by the Financial Conduct Authority (FCA).
  • New Issuer: Starting Monday, 13th January, your card will be issued by IDT Financial Services Limited, a bank regulated by the Gibraltar Financial Services Commission. IDT’s registered office is 57-63 Line Wall Road, Gibraltar, Registered No. 95716.

What You Need to Do:

  • New Card: We’ll issue your new Suits Me card before the switch date of Monday, 13th January. Activation instructions will be included with your card.
  • Account Details: You’ll receive a new sort code and account number in December. To ensure continued payment processing, it’s essential to inform your employer, the DWP, or any other party who deposits funds into your account about these changes.
  • Outgoing Payments: We’ll also provide instructions on managing your bills, subscriptions, and other outgoing payments with the new account details.

Why the Change?

Engage will cease trading, and all accounts will be transferred to Suits Me to ensure uninterrupted service. This move includes transferring your account from Contis Financial Services Limited to IDT Financial Services Limited. Your funds will continue to be safeguarded—first by Contis Financial Services Limited until the transfer date, and then by IDT Financial Services Limited, a licensed and regulated bank.

If You’d Like to Close Your Account

If you prefer not to transition to the new Issuer, you can close your account at no charge before the switch date of 13th January 2025. Please contact our Customer Care team by email at info@engageaccount.com. If Engage don’t hear from you by then, they will proceed with the transfer, you will have accepted the new terms and conditions, and the balance on your Engage card will transfer to your new Suits Me card.

Need Help?

If you have any questions regarding your Engage account, you can also call 0333 202 3642 or email at info@engageaccount.com.

If you have any questions regarding your move to Suits Me, please email engageaccount@suitsmecard.com.

Engage will contact you again in December to tell you more about the proposed changes including the new terms and conditions and whether there will be any operational impact on your access to our product during the migration to a new Issuer. But we can tell you now that you will also get a new sort code and account number.

Smartcash is the pre-paid VISA account that Junior members of Wave Community Bank can enjoy for FREE!  

Here’s how Smartcash helps our junior members aged 8-16:

  • Teaches children cashless money management skills
  • Provides a FREE junior digital mobile app
  • Includes a Debit Card with safe spending/withdrawal limits
  • Makes it easy for children to request pocket money from parents, receive cash gifts or wages from part time job
  • Easy to send money back to your Credit Union savings account
  • Parents/guardians have full authorisation
  • NO management fees or costs for purchases made within the UK

Smartcash Limits

Maximum daily ATM withdrawal

£50

Maximum balance

£500

Maximum Paypoint Pay-in

£249

Card expiry

36 months

Your Smartcash card and account is issued by Contis Financial Services Ltd who is authorised by the Financial Conduct Authority to issue e-money (Firm Reference Number: 900025) and is a member of VISA.

Please note that Smartcash card and account is an electronic money product and although it is a product regulated by the Financial Conduct Authority, it is not covered by the Financial Services Compensation Scheme. We ensure that any funds received by you are held in a segregated account so that in the unlikely event that Contis Financial Services Ltd becomes insolvent, your funds will be protected against claims made by creditors

Terms & Conditions

You can download the Terms and Conditions here.

Smartcash Fees and Charges

Costs

NO MONTHLY MANAGEMENT FEE

£10 one off account set up fee (less any promotional offer)

Replacement for lost, stolen or damaged cards – £4.95

Loading onto the card and balances

£10 minimum initial load with £500 maximum balance

Load money free from a Credit Union account, an Engage account or bank account. Maximum transfer value £500.

Load cash with a Paypoint card – maximum deposit £249. Charge to load – £0.50 + 2.5%. You can locate nearest Paypoint on the mobile app

Spending charges in shops

UK purchases – free

Cashback instore in UK – FREE

Abroad – £1 + 2% of transaction value

ATM

In the UK:

Balance enquiry fee – £0.10

Withdrawal fee – £0.35 (some ATM providers may charge additional fee)

Daily withdrawal limit – £50

Abroad – £2 fee + 2% of withdrawal value

Transferring money out

Can transfer money directly into Credit Union Savings Account.

Closing account

Redemption fee £2

Card cancellation within 14 day cooling off period is free

Alerts, Admin & Support

SMS Alerts – 10p

Email alerts – Free

Calls to Customer Services on 0333 202 3642 charged at standard geographical rate

Online Statements – Free

Admin fees for chargebacks or cardholder errors – £5

Data subject access fee – £10

Opening Hours

Our phones are open Monday to Friday between 9.30am-1.00pm and we continue to monitor our emails between 9.30am to 4.00pm.

Contact Us

Phone: 0300 303 3188

Email: info@wavecb.org.uk

Face-to-face appointments at Hove Town Hall by arrangement only.

Addresses:

East Sussex, Brighton & Hove:

Tisbury Road Offices, Hove Town Hall, Tisbury Road, Hove, BN3 3BQ

Kent, Medway and Bexley:

39-48 Marsham Street, Maidstone, Kent, ME14 1HH

Wave Community Bank serves members in East Sussex, Brighton & Hove, Kent, Medway and the London Borough of Bexley, plus members of Unite in the South East Region. Withdrawals over £5000 will take 5 working days to process
Wave Community Bank is a trading name of East Sussex Credit Union Ltd.Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FCA Firm no 213910

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