Pre-paid cards: terms and conditions
Buttle UK uses prepaid cards as one way of awarding grants. Please see the card terms and conditions (below), the letter that is sent with the cards, and the grant terms and conditions for more information on how prepaid cards should be managed.
- You can make up to 20 transactions in one calendar day.
- You will be asked to enter the PIN after 6 contactless transactions or £130, whichever comes first.
As Buttle UK issues many of its grants via prepaid cards, the Financial Conduct Authority (FCA), who regulate financial institutions and markets in the UK, have highlighted the need for prepaid card issuers to clearly communicate the rules on e-money protection and ensure card users understand the level of protection they hold under e-money regulations. In particular, they want card users to be clear about how these rules are separate to those covered by the FSCS (Financial Services Compensation Scheme) protection.
A letter has been provided to us by QPay, the company that manages the prepaid cards that we use, that sets out this information.
You can read the letter here: FCA-Letter-emoney-protection-21.07.2022-Buttle
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The Prepaid Mastercard® Card is issued by PayrNet Ltd pursuant to license by Mastercard International Inc. PayrNet Ltd is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900594).