If something goes wrong, you're covered. And we'll tell you exactly where the edges are.
Most money apps oversell. We'd rather you knew what we can't do as clearly as what we will.
Refunds, three ways
From the merchant
Every merchant in the network signs up to the network refund policy: 14 days no-quibble on digital subscriptions, pro-rata refunds when you cancel, and refunds paid back into your wallet within 2 working days.
Through us
Raise a dispute from the receipt in your app. We contact the merchant, and if they don't honour the policy within 5 working days we step in. Merchants who don't play fair are removed from the network.
FVAMPay Protection
If a merchant disappears, charges you twice, or never delivers what you paid for, we reimburse you up to £100 per claim from our own funds. Claims are reviewed within 5 working days.
And the thing cards can't match: cancel any subscription in one tap from your app, and the next charge simply doesn't happen. No "contact the merchant to cancel."
What we can't do
- Move your money. The keys live on your phone, not our servers. Nobody at FVAMPay can spend, transfer or freeze your balance.
- Decline a payment. If a merchant is in the network and you have the balance, it goes through.
- Change the limits you set. Spending rules live in your wallet and only you can change them.
- Ask about individual payments. There's one identity check, at signup. After that, your payments are your business.
What you should know
- We're not a bank. Your balance isn't covered by a deposit guarantee. It's protected by the fact that nobody but you can touch it.
- Your bank can't see your payments. The ledger can. Payments are recorded on a public ledger under your wallet address, not your name. Your bank only ever sees the top-up.
- Lose your phone, keep your money. Sign in on a new phone with Face ID. Add a trusted contact for a second recovery route.
- Refunds come from merchants, not a bank. That's why the network refund policy and FVAMPay Protection exist.
How your money is held
Plain English, because you're entitled to it.
Your balance is a digital pound-equivalent
Held as a digital dollar or euro issued by a regulated company and backed one-to-one, shown to you in pounds at a live rate you can see on tap.
It sits in a wallet only you control
Not in an account with us. The key that can move it is created on your phone and never leaves it. We can't freeze it, and we can't unfreeze it either, because we never had the key.
One rare exception, and it isn't us
The company that issues the digital currency can freeze a wallet address if a court or law-enforcement agency requires it. This happens to a tiny number of addresses worldwide, almost always linked to serious crime. We have no power to do it, and no power to undo it. We'll always tell you if it happens and point you to the issuer's process.
Every payment needs your face
Face ID on every payment, unless you've chosen to allow small amounts or a subscription. You can pause everything with one tap, and nobody can turn it back on but you.
Adding money is handled by a regulated partner
Ramp Network, an authorised crypto-asset service provider, converts your pounds and delivers them to your wallet. The identity check you do with us is shared with them so you never do it twice.
Questions about any of this?
A human answers support within 1 working day. No bots, no scripts.