Q: What are the benefits of the new Terminal Hire Agreement?
A: We are bringing your terminal hire agreement more in to line with those offered to other Worldpay customers, with the following benefits.
- During 2015 we’ll be changing our billing cycles so you pay monthly in arrears, which gives you the benefit of better cash flow than paying quarterly in advance. We’ll write to you later this year to give you further details about this change and how and when it will apply to your business.
- A fee of up to £150 (plus VAT) per terminal was payable under your Cardsave Membership Agreement at the time of cancellation. This has been removed and will no longer apply under your new Terminal Hire Agreement. You may still need to make an extra payment on cancellation though if there has been any damage to the terminal/s when they are returned to us, or if we need to collect these from you.
- If you want to leave us part way through a hire period you will still need to pay an amount equal to the amounts that would have been payable to the end of your contract hire period (i.e., to the end of your Current Hire Period or the 18 month renewal period), but a discount of 5% will now be applied.
- If you are a sole trader, partnership of three or less or an unincorporated association then you may also be eligible to use the Financial Ombudsman Service.
Q: Will I receive a new Monthly Statement showing terminal hire charges?
A: There will be no changes to your payments or invoicing arrangements initially. Later this year we will be changing our billing cycles to monthly in arrears, which gives you the benefit of better cash flow. We’ll write to you closer to the time to give you further details about this change and how and when it will apply to your business.
Q: When does my new Terminal Hire Agreement start?
A: This will take effect automatically one month after we wrote to you. You’ll be able to keep using your terminal as usual over this time without interruption. If you don’t want to accept the changes, then you’ll need to contact us within this one month period to let us know you want to cancel.
Q: How long does my Terminal Hire Agreement run for?
A: This will run initially for the Current Hire Period as shown in your Terminal Schedule. For most of our customers who were part way through an annual membership with Cardsave, this will equate to whatever period was left of that annual membership. At the end of that time the contract will automatically renew for a new 18 month hire period. This makes things easier for you, as you do not need to do anything if you are happy for your contract just to renew. If you don’t want it to renew for another 18 months, you will need to let us know at least a month before the end of your Current Hire Period that you want to cancel.
Q: Do I have to accept the new Terminal Hire Agreement?
A: No – but you’ll need to let us know within one month of the date of our letter that you want to cancel your contract. You can contact us on 0800 140 4447. If you don’t do so within this time, then you will be deemed to have accepted the changes.
Q: Where can I find the full terms and conditions for the Hire agreement?
A: You will have received a Terminal Schedule and booklet with our recent letter. The Terminal Schedule together with the terms and conditions at the back of the booklet form your new Terminal Agreement. Please read these carefully and keep a copy of them somewhere safe.
Q: Do I still call the same numbers if I need help?
A: For any questions relating to the recent contract or terminal changes please call us on 0800 140 4447. We’re open from 9.00am to 5.30pm Monday to Friday (excluding bank holidays).