We have been continuing to work hard to improve our processes and reinstate our services as quickly as possible. While we’ve made good headway, accounts remain suspended. We’ll continue to keep all customers updated of our progress through regular updates on our website.
In the meantime, we’ve created some more FAQs to help some customers with their questions.
Q: When you talk about AML what do you mean?
Reply: Anti-money laundering refers to a set of obligations placed on companies like ePayments by the UK The Money Laundering and Terrorist Financing (Amendment) Regulations 2019.
In particular, ePayments must have processes in place to ensure that we understand who our customers are, why they want to do business and how they use our services
Q: Will you withdraw the card service fee?
Reply: All operations are being restricted at the moment. Fees won’t be withdrawn.
Q: Is there any guarantee/insurance that I’ll receive my money back?
Reply: In accordance with Section 19 of the terms and conditions and in line with our obligations as an authorised Electronic Money Institution (EMI), ePayments is required to safeguard customer funds. To find out more about what this means, please read this link.
Q: Which bank has the safeguard account of your payment system?
Reply: Our funds are safeguarded using a number of different methods with a number of different institutions.
Q: Is the Financial Services Compensation Scheme applicable to you?
Reply: As per our terms and conditions, your ePayments account is an electronic money account and not eligible for the protection of the Financial Services Compensation Scheme.
Q: I have been a victim of a scam. What can I do?
Reply: All customers should remain alert to the possibility of fraud. If you are cold called or emailed by someone claiming to be from ePayments or the FCA, please end the call / do not reply to the email and contact us directly ([email protected]). Find out more about protecting yourself from scams. Please make fraud reports to Action Fraud https://www.actionfraud.police.uk/.