CONSUMER DUTY NOTICE

Eqwire UK Limited is an authorised electronic money institution (EMI) regulated and supervised by the Financial Conduct Authority (the firm reference number is 901100). Eqwire provides its operations in partnership with the Modulr group of companies (Modulr FS Limited and Modulr FS Europe Limited) for the following activities.

1. Distribution of electronic money and e-money accounts in the European Union (EU) and acting as an agent of Modulr FS Europe Limited in the EU.
2. Issuance of electronic money and offering of e-money accounts in the UK in partnership with Modulr FS Limited.
3. Providing a portal with a digital interface that enables its customers to open an electronic money account and access the account and associated services. Through this service and interface, the customer can instruct and operate additional functionality in relation to their electronic money account.

In this Notice, we use the terms “we”, “us”, and “our” (and other similar terms) to refer to Eqwire, and “you” and “your” (and other similar terms) to refer to our customers, contacts, suppliers, job applicants and site visitors.

This Consumer Duty Notice (“Notice”) is to help you understand your consumer rights and what we are doing to comply with the Consumer Duty.

This Notice is an important document. We recommend that you read it carefully, print and keep a copy for your future reference. When you deal with Eqwire, we will assume you are familiar with your rights described in this Notice unless you tell us otherwise in writing.

The Consumer Duty is a new set of rules that came into effect on 31 July 2023. It sets out the expectations that the Financial Conduct Authority (FCA) has for firms when it comes to delivering good outcomes for their customers.

The Consumer Duty has four main elements:

• The Consumer Principle: We must act in the best interests of our customers and enable them to make informed decisions.
• The Cross-cutting Rules: We must take all reasonable steps to avoid foreseeable harm to our customers, enable them to pursue their financial objectives, and act in good faith.
• The Outcomes: We must deliver four outcomes for our customers:
  • Products and services: Firms must design and sell products and services that are fair, clear, and meet the needs of their customers.
  • Price and value: Firms must ensure that their customers are getting a fair price for the products and services they buy.
  • Consumer understanding: Firms must provide their customers with clear and accurate information about their products and services, so that they can make informed choices.
  • Consumer support: Firms must provide their customers with support if they need it, such as help with complaints or resolving problems.

We are committed to providing you with the highest standards of consumer protection and putting your needs first. This is in line with the Consumer Duty rules set by the Financial Conduct Authority (FCA), the regulator of financial services in the UK. As a responsible business, we are fully committed to complying with the Consumer Duty. To help you better understand your consumer rights, we would like to highlight some key points:

• You have the right to receive clear and transparent information about our products and services, including pricing and fees.
• You have the right to access and manage your account information, and to have your personal data protected.
• You have the right to raise any concerns or complaints with us, and to expect a timely and effective resolution.

Under the Consumer Duty, you can expect that we will:

• Provide you with products and services that are fit for purpose, represent fair value and meet your needs.
• Treat you fairly and with respect.
• Give you clear and accurate information about our products and services.
• Help you understand your rights and responsibilities.
• Resolve any complaints you have promptly and fairly.

The Consumer Duty requires us to:

• Act in your best interests and enable you to make informed decisions.
• Communicate with you in a clear, fair and not misleading way.
• Provide customer service and support that is prompt, efficient and helpful.
• Respect your rights if things go wrong or you want to complain.

We are committed to delivering good outcomes for our customers. In order to comply with the Consumer Duty, we have put in place a number of measures, including:

• We have developed a Consumer Duty Policy that ensures that all our products and services are fit for purpose and meet customers’ needs. We believe that the Consumer Duty is a positive step for consumers, and we are committed to meeting its requirements.

• We have a Fair Pricing Policy that ensures that we are not charging you more than we should for our products and services.
• We have a team who are dedicated to understanding our customers’ needs and making sure that our products and services meet those needs.
• We have a dedicated team of customer support staff who are available to help our customers with any questions or problems they may have.

• We regularly review and update our products and services to ensure that they remain relevant and appropriate for our customers.
• We provide clear and transparent information about our pricing and fees, including any changes that may affect you.

• We provide clear and accurate information about our products and services in a way that is easy to understand to enable you to make informed decisions.
• We have conducted an analysis of our prices to ensure we provide fair prices to our customers.
• We have developed a customer understanding assessment and testing framework that ensures that we understand customers’ needs and that we are providing the customer with the information they need to make informed decisions.

• We train our staff to provide the service with respect and treat the customers fairly, and to ensure that they are knowledgeable about our products and services.
• We implement strict data protection measures to safeguard your personal information and prevent any misuse.

• We have a robust complaints process that is easy to use, and we are committed to resolving complaints in a timely and fair manner.

If you have any questions or complaints about the product or service, then please contact us. You can e-mail us at [email protected].

If you have any concerns or feedback about your consumer rights or about our products, services or performance, please contact us at [email protected]. We value your opinion and want to hear from you.

Thank you for choosing us as your financial services provider. We look forward to serving you well.

We may update this Consumer Duty Notice from time to time in response to changing legal, technical or business developments. When we update our Consumer Duty Notice, we will take appropriate measures to inform you, consistent with the significance of the changes we make.