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Prepaid MasterCard® Terms and Conditions

Usage of the Prepaid MasterCard

Subject to the restrictions set out below, you can use the Prepaid MasterCard at most locations that display the MasterCard acceptance mark, including shops, restaurants, online, or on the telephone. Before using the Prepaid MasterCard you need to make sure there are enough funds loaded on it. You will not be able to use your Prepaid MasterCard after its expiry date. Please note that you should not use your Prepaid MasterCard at any merchant where authorisation for the transaction is not requested electronically. Your Prepaid MasterCard is not a credit card and is not in any way connected to your bank account. You will not earn any interest on any funds loaded on your Prepaid MasterCard. The Issuer of the Prepaid MasterCard and the Programme Manager is Prepaid Financial Services Limited, based in the UK and the provider of the Prepaid MasterCard is taxback.com.

Applying for and activating your Prepaid MasterCard

You will receive your card within 5-7 days of applying and paying for the card. You must sign the signature strip on the back of the Prepaid MasterCard as soon as it is received. A member of our customer representative team will call you to provide you with instructions on how to retrieve your PIN and how to activate and load your card. You can also refer to the “Loading your Prepaid MasterCard" section below. By activating your Prepaid MasterCard, you are agreeing to these terms and conditions.

Loading your Prepaid MasterCard

Bank Transfers will only be loaded onto your card once we have received the cleared funds. Your employer can chose to pay your wages on your card as well. Other loading options may be added in the future; we will email you if and when a loading option is added.

Using your Prepaid MasterCard

Detailed instructions on how to use your Prepaid MasterCard are found on the website. You will need to follow these instructions when using your Prepaid MasterCard. We will deduct the value of your transactions from the balance on your Prepaid MasterCard as soon as they are made. We will also deduct any applicable fees as soon as they become payable by you.* If sufficient funds are not loaded on your Prepaid MasterCard at the time of a transaction to cover the amount of the transaction and the fees, the transaction will be declined. Your Prepaid MasterCard can only be used where the merchant requests authorisation electronically. Where authorisation is not sought, the transaction will be declined.

Cancellation and expiry of your Prepaid MasterCard

You have a legal right to cancel your Prepaid MasterCard up to 14 days after you have applied and paid for it without being charged a refund 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 Prepaid MasterCard at any time after the 14 day Cooling-Off Period. If your Prepaid MasterCard is cancelled, we will immediately block your Prepaid MasterCard so it cannot be used. 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 Prepaid MasterCard before the Prepaid MasterCard is cancelled or expires. You can cancel your Prepaid MasterCard by sending an email to us at info@tbgpayments.com.

For extra safety measures, please cut your Prepaid MasterCard in half through the signature box and magnetic strip, ensuring the chip is cut in half, and send to BAU Department, Prepaid Financial Services Ltd, Debello House, 14-18 Heddon Street, Mayfair, London, W1B 4DA with a print-out of your email requesting the cancellation.

Once we have received this, the refund of the funds remaining on your card will be processed. If you cancel your Prepaid MasterCard, once all transactions and fees have been deducted, we will arrange for any unused funds to be refunded to you (see the "Your Right to a Refund" section below for further information).

An administration fee will be charged* unless you have arranged to transfer any unused funds to another Prepaid MasterCard managed by us or you cancel your Prepaid MasterCard within 14 days of paying for it.

We may also cancel your Prepaid MasterCard immediately if we suspect fraud or misuse, have any other security concerns 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. In these circumstances, you must tell us what you want us to do with any unused funds within 3 months of the date you receive notification Prepaid MasterCard is cancelled. Your Prepaid MasterCard will be valid for 24 months.

When it expires, we may automatically send you a replacement card if you have used your card within the last 3 months before the date of expiry and have a positive balance on the card on the expiry date. Any funds on your Prepaid MasterCard will automatically be transferred to your new card. Replacement cards incur a fee*. If your card has expired and you have not received your new card please contact us. If the card is not re-issued for a period of 6 months after the expiry of the card, taxback.com will be entitled to retain the balance of the card in full.

Keeping your Prepaid MasterCard secure

You should treat your Prepaid MasterCard like cash. If it is lost or stolen, you may lose some or all of your money on your Prepaid MasterCard, in the same way as if you lost cash in your wallet or purse. As a result, you must keep your Prepaid MasterCard safe and not let anyone else use it. You must keep your PIN secret at all times. Do not write it down or reveal it to anyone. In no circumstances will we or should you reveal your PIN to a third party. We recommend that you check the balance on your Prepaid MasterCard regularly online at the website. You can see your Prepaid MasterCard balance and recent transactions online at any time. If you lose your Prepaid MasterCard or it is stolen, or you suspect that your Prepaid MasterCard has been used by someone other than you, you must tell us immediately by calling us on our lost and stolen card helpline +44 (0)207 125 0321 so we can cancel your Prepaid MasterCard.

In the event that your Prepaid MasterCard is lost, stolen or misused by someone without your permission, you may have to pay part of the loss up to a reasonable sum of any loss incurred. If your Prepaid MasterCard is misused with your permission you will probably be liable for ALL losses. You will not be liable for losses which take place after you told us about the loss or theft of your Prepaid MasterCard, as long as you confirm this in writing within 7 days.

If, after reporting a Prepaid MasterCard lost, you subsequently find the card, you must not use it. Cut the Prepaid MasterCard in half through the signature box and magnetic strip, and ensure the chip is cut in half. If you ask us to do so, we will investigate any disputed transaction or misuse of your Prepaid MasterCard and we may need more information and assistance from you. If this assistance or information is not provided then you may not be entitled to a refund. We may refund the amount of any transactions which the investigations show are not authorised by you, provided you have kept your Prepaid MasterCard and PIN secure, you have not acted fraudulently, or acted without reasonable care. However, if the investigations show that any disputed transaction was authorised by you, or you have not kept your Prepaid MasterCard or PIN secure, we will not refund the transaction amount and will charge you an Administration Fee (please refer to our fees information in Section 11).

Your liability

In the event that you do not use your Prepaid MasterCard in accordance with these terms and conditions or we find that you are using the Prepaid MasterCard fraudulently, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using this Prepaid MasterCard and to recover any monies owed as a result of your activities.

Our liability

Like other payment cards, we cannot guarantee a retailer will accept your Prepaid MasterCard, or that we will necessarily authorise any particular transaction. This may be because of a systems problem, something outside our reasonable control, or because we are concerned that your Prepaid MasterCard is being misused. Accordingly, we shall not be liable in any event that a retailer refuses to accept your Prepaid MasterCard, or if we do not authorise a transaction, or if we cancel or suspend use of your Prepaid MasterCard.

Unless otherwise required by law, we shall not be liable for any direct or indirect loss or damage you may suffer as a result of your total or partial use or inability to use your Prepaid MasterCard, or the use of your Prepaid MasterCard by any third party.

Your right to a refund

You may request a refund of the funds on your Prepaid MasterCard provided you have more than £10.00 loaded on your Prepaid MasterCard (or equivalent in US Dollars and Euros, depending on the currency of your card). To do so, send us an e-mail to info@tbgpayments.com requesting a refund and confirming that you have destroyed your Prepaid MasterCard by cutting it up.

When we process your refund, we will charge a refund fee (please refer to our fees information in Section 11). We will send a cheque to your last notified address or arrange an electronic transfer to a bank account nominated by you. However, to enable us to comply with our legal obligations, we may ask you to provide us with certain information before we can process your refund request.

Changes to these Terms and Conditions

We may change these terms and conditions at any time. The up-to-date version of the Prepaid MasterCard terms and conditions will always be available on the website. If we think that a change is material we will send you an e-mail and/or SMS text message and/or letter at least 30 days before making the change, unless a more immediate change is required by law or other valid reason. If you are significantly disadvantaged by any such change that we make, you may cancel your Prepaid MasterCard in accordance with our refund policy (see section 9 above). In such circumstances you will not be charged a refund fee.*


When you use your Prepaid MasterCard at an ATM, you may also be subject to applicable fees, surcharge rules and regulations of the relevant ATM, or other financial institution or association. If we decide to increase or impose any new fees, we will tell you by email, SMS text message, or post, at least 30 days 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 Prepaid MasterCard 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 Prepaid MasterCard 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 Prepaid MasterCards 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 Prepaid MasterCard or on any additional Prepaid MasterCard ordered by you. Until we are reimbursed, the shortfall amount, we may suspend your Prepaid MasterCard and any additional Prepaid MasterCards connected to you. For a full breakdown of the fees, please refer to our Frequently Asked Questions page.

Your details

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

Data protection

In purchasing the Prepaid MasterCard on the website and using it, you agree that we can use your personal information in accordance with our Privacy Policy. You can tell us if you don't want to receive any marketing materials from us. You have the right to inspect personal data we hold about you. To inspect any of your personal data held by us you will have to pay us an administration. If you wish to inspect your personal data you can contact us in any of the ways set out in the Communication Section below (No. 16).

Privacy Policy

The personal information that is collected when you apply for a Prepaid MasterCard will be used by us, our Prepaid MasterCard issuer and third parties (on its behalf) to run your Prepaid MasterCard, process your fund transfers or transactions. We or third parties may also contact you to let you know about services that we believe may be of interest to you, unless you have informed us that you do not want to receive this information.

We shall ensure that the appropriate technical and operational security measures are in place to keep the personal data transferred confidential and secure. You may raise queries as to the personal information held by us about you, let us know about changes to your personal information or contact us by emailing info@tbgpayments.com if you no longer wish us to use your personal information.

Disputes with retailers

If you have any disputes about purchases made using your Prepaid MasterCard, 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 Prepaid MasterCard. Remember that once you have used your Prepaid MasterCard to make a purchase we cannot stop that transaction.


If you have an enquiry relating to your Prepaid MasterCard, please email us at info@tbgpayments.com. 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 (UK) +44 203 364 5389, (Ireland) +353 1 887 1926, (Canada) +1 855 863 5444 or (United States) +1 855 735 7347. Call costs from mobile networks or outside the UK may vary.


The Prepaid MasterCard programme is managed by Prepaid Financial Services Ltd. If you are unhappy in any way with your Prepaid MasterCard or the way it is managed, please email us at info@tbgpayments.com 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 South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone: 0845 080 1800 or +44 (0)20 7964 1000 (for calls from outside the UK) and e-mail: enquiries@financial-ombudsman.org.uk.


The Prepaid MasterCard is an electronic money product and although it is a product regulated by the Financial Services Authority, it is not covered by the Financial Services Compensation Scheme. No other compensation scheme exists to cover losses claimed in connection with the Prepaid MasterCard. If you choose to hold a balance of more than £1,000.00 on your Prepaid MasterCard you understand and accept the risks of holding this large amount of money. This means that in the unlikely event that Prepaid Financial Services Limited become insolvent your funds may become valueless and unusable and as a result you may lose your money.


We may assign the benefit and burden of these terms and conditions to another company at any time, on giving you at least 30 days prior notice of this. If we do this, your rights will not be affected. You may not assign your rights.

Transfer to a new Prepaid MasterCard issued by a different bank

We may transfer your unused balance to a new Prepaid MasterCard provided by another Prepaid MasterCard issuer at any time. Before we do this, we will send you an email and/or SMS text message and/or letter with at least 30 days notice of the new Prepaid MasterCard arrangements and the new Prepaid MasterCard terms and conditions.

Unless you advise us within the 30-day period that you do not want a new Prepaid MasterCard from the new Prepaid MasterCard issuer, you agree that we can automatically transfer the unused balance on your Prepaid MasterCard to a new Prepaid MasterCard provided by the new Prepaid MasterCard issuer.

Governing law

All communications with you will be in English. These terms and conditions will be construed in accordance with English law and the exclusive jurisdiction of the English courts.