Prepaid Customer Charter

This Customer Charter has been published by the Prepaid International Forum (PIF), a not-for-profit trade association that represents many companies involved in the supply of prepaid payment products and services.

All members of PIF subscribe to this Charter. A full list of our members is shown on the homepage of this website.

What is prepaid? What does this Customer Charter cover?

Prepaid payment products and services provide consumers with an alternative way to make payments. Funds are pre-loaded onto a device such as a card, an electronic voucher or mobile device

This Charter outlines what you should expect from our members and what they should always strive to deliver.

All references to a “prepaid card” in this Charter means any prepaid payment product (physical or virtual) including without limitation a card, e-voucher or code.

PIF Code of Conduct

All members of PIF are committed to the key principles of the PIF Code of Conduct:

  • To promote and demonstrate fairness and clarity to customers and end-users
  • To operate in a manner compliant with regulations
  • To encourage sound business practice
  • To maintain and enhance the reputation of the industry

What does that mean for you, the customer?

Applying for or purchasing a prepaid card:

Our members will strive to ensure that the application process for prepaid products such as cards and e-vouchers by customers is simple, timely and accessible.

When you are asked for information to prove your identity, our members are expected to have processes in place to ensure that you understand why and how the details you provide will be held and used.

Terms and conditions relating to the product you are applying for will be made available to you, generally supported by a comprehensive set of FAQs which address all the key issues such as consumer protection.

All charges and fees should be shown clearly and accurately in marketing materials and terms and conditions. This should include any charges, fees and key conditions giving you a genuine opportunity to see key material information before you commit.

You should be provided with clear details of how any changes to prices and tariffs will be advised to you.

Terms and conditions should indicate whether the prepaid product has an expiry date.

Our members will advise you of your protection in certain circumstances. This information should be shown in the product literature or terms and conditions. Before you commit to a prepaid card make sure you know the answers to the following questions:

  • What happens if my card is lost or stolen?
  • Will I lose my money if the card is not used?
  • What happens when I purchase something that goes wrong?
  • If there is customer protection do I have to opt in or out?
  • What happens if my issuer stops trading?

Using your prepaid card:

Our members should provide you with a means to know the balance on your card, either by text, telephone, online or when you load funds onto your card at a retail outlet.

Customer help-desk contact details should be shown clearly on the prepaid card and/or product literature.

You should be advised of how and when to inform your issuer of changes in personal circumstances such as a change of address.

Our members are expected to have procedures in place to ensure that any complaints you have about your prepaid card are handled promptly. Information on how to make a complaint and how your complaint will be handled should be provided in the product literature or terms and conditions.

What if you have questions?

In the first instance, you should always refer to the company that issues your prepaid card. The name of the issuer and how to contact them should be shown clearly on the card and/or in the terms and conditions and on the issuer’s website.

Disclaimer: The Prepaid International Forum does not represent consumers or its members in any legal or other dispute and cannot be held liable for any advice. The information provided in this Customer Charter is for guidance purposes only and should not be construed as legal or any other professional advice. No responsibility will be accepted by PIF or its members for any loss incurred by any individual acting or not acting as a result of any information provided in this document.