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Cardholder Terms – Individual

What does everything in these Terms mean?

We have tried to keep our Terms as simple and straightforward as possible, because we at Lucy don’t like lots of complexity! However, there are some things that we are legally obliged to do and say. By signing up as a Lucy customer, you will automatically have agreed to these Terms, so please read them thoroughly.

In these General Terms of Use:

“ATM Withdrawal” has the meaning set out in Clause 9.2.1.

“Automatic Transfer” has the meaning set out in Clause 9.1.2. “Business Day” means a day other than a Saturday, Sunday or public holiday in Singapore

“Card Issuer” means Rapyd Holdings Pte Ltd., 89 Neil Road #02-00, Singapore, 088849, principal member pursuant to a license from Mastercard International Incorporated.

“Card PIN” means personal identification number, which is associated with your Lucy Card and allows you to enter into Lucy Card Transactions.

“Card Processor” means a third-party payment network card processor.

“Communications” means information provided relating to your Lucy Account or any Lucy Transaction, including: any agreements and policies you agree to, (e.g., these Terms) including updates to these agreements or policies; disclosures and notices, including prospectuses and reports for transaction receipts or confirmations; Lucy Account statements and history; and payments authorisations and transaction receipts or confirmations; documents; and any other information related to your Lucy Account or the Lucy Services.

“Cookie Policy” means the cookie policy relating to the Website which can be found at here.

“Counterparty” means the person you wish to send Electronic Money or money to.

“Counterparty Bank Account” means the bank account of the Counterparty.

“Electronic Money” means electronically stored value represented by a claim against Lucy.

“Exchange Rate” has the meaning set out in Clause 15 and the Fees and Pricing Section.

“External Account” means a designated personal deposit account (current or savings account) held with a bank in Singapore.

“Fees and Pricing Section” means the separate fees schedule outlining the fees we charge in relation to the Lucy Services which can be found here.

“Force Majeure Event” means an event which is beyond the reasonable control of an affected party including without limit any market disruption, acts or restraints of government(s) or public authorities, war, revolution, strikes or other industrial action, fire, flood, natural disaster, explosion, terrorist action, the suspension or limitation of trading by any execution venue, or any breakdown, failure, defective performance or malfunction of any telecommunications settlement or other equipment or systems.

“Information” means any confidential and/or personally identifiable information or other information, including but not limited to the following: name, email address, date of birth, tax identification number, billing/shipping address, phone number and financial information.

“Lucy” “we,” “us,” or “our” means Lucy Holdings Pte. Ltd., the details of which are set out in Clause 2.1.

“Lucy Account” means your relationship with us as described in these Terms.

“Lucy Account Profile” means your profile, accessible on the Lucy Home Screen where you can view, among other things, your details, your price plan and your verification limits.

“Lucy Bank Transfer” has the meaning set out in Clause 9.1.3.

“Lucy Card” means both Physical Lucy Cards and Virtual Lucy Cards issued via the Card Issuer.

“Lucy Cardholder Terms” means the terms and conditions between you and Lucy relating to the issuance to you and the use by you of the Lucy Card.

“Lucy Card Purchase” has the meaning set out in Clause 9.2.2

“Lucy Card Transaction” has the meaning set out in Clause 9.2.

“Lucy Home Screen” has the meaning set out in Clause 5.1.

“Lucy Home Screen Transaction” has the meaning set out in Clause 9.1

“Lucy Electronic Money Account” means an account with us in which Electronic Money is held.

“Lucy Services” means you being given access to the Lucy Home Screen via the Mobile App and being able to enter into Lucy Home Screen Transactions, you being issued with a Lucy Card and being able to enter into Lucy Card Transactions and the management of your Lucy Account.

“Lucy Transactions” means both Lucy Home Screen Transactions and Lucy Card Transactions. “Lucy Transaction History” means the list of Lucy Transactions you have entered into, which is available on the Lucy Home Screen.

“Lucy Transaction Limits” means the limits Lucy imposes on the Lucy Transactions you can enter into, the details of which will be set out on the Lucy Home Screen.

“Lucy User” means a user of Lucy.

“Manual Transfer” has the meaning set out in Clause 9.1.2. “Mobile” means your smartphone or other electronic device upon which you have downloaded the Lucy Mobile App.

“Mobile App” means the mobile application accessible through your Mobile where you can obtain access to your Lucy Home Screen.

“Mobile App Terms” means the terms and conditions governing your use of the Mobile App which can be found on the Mobile App.

“Mobile PIN” means your personal identification number which is entered onto the Lucy Mobile App to gain access to the Lucy Home Screen.

“Monetary Exchange” is not a service in its own right but will be part of a Lucy Bank Transfer, an ATM Withdrawal or a Lucy Card Purchase and means redeeming Electronic Money in your Lucy Electronic Money Account and using it to purchase money in a different currency using our Exchange Rates;

“Payment Services Act” is an Act to provide for the licensing and regulation of payment service providers, the oversight of payment systems, and connected matters. The Act came into effect on 28 January 2020.

“Physical Lucy Card” means the tangible plastic card issue to Users.

“Premium Lucy Card” means a metal version of the tangible plastic card issued to Users.

“Social Subscription Fees” means the optional fees payable by a User, which are set out in the Fees and Pricing Section. 

“Privacy Policy” means our privacy policy which can be found on the Website.

“Restricted Countries” means those countries that do not appear on the Lucy Home Screen.

“Standard Lucy Card” means the tangible plastic card issued to Users.

“Supplement(s)” means an agreement between Lucy and you for the provision of separate services by Lucy or one of its partners to you, which will be set out on the Website.

“Third Party Bank Transfer” means a payment from a person which is not you to one of our bank accounts, the details of which we shall provide to you, as part of the process of requesting a Top-Up.

“Top-Up” means you or a third party sending money to us in return for us issuing Electronic Money to your Lucy Electronic Money Account as further described in Clause 8.

“User”, “you” or “your” means you being the individual that has agreed to these Terms to use the Lucy Services.

“User Bank Account” means a bank account belonging to you.

“User Bank Transfer” means a transfer from a User Bank Account, performed by the User’s payment service provider, to one of our bank accounts, the details of which we shall provide to you or your bank, as part of the process of requesting a Top-Up.

“Virtual Lucy Cards” means the virtual non-tangible cards that allow you to enter into Lucy Card Purchases.

“Website” means our general website, the web address of which is www.welucy.com

“Website Terms” means the terms and conditions regarding the use of our Website which can be found on our Website.

These terms as a framework agreement

1.1. These Terms constitute a framework agreement which sets out the terms of

(a) you and us entering into Lucy Transaction(s); and

(b) the use of the Lucy Home Screen and other Lucy Services. Before you can enter into Lucy Transactions and benefit from the Lucy Services with us you are required to:

  1. Read these Terms and tick the box confirming the accuracy of the information provided and your agreement with these Terms; and
  2. provide us with such documentation, photographs and information as we may reasonably request to comply with our regulatory obligations.

1.2. These Terms incorporate the Website Terms, the Cookie Policy, the Privacy Policy, the Mobile App Terms and any Supplements by this reference. By accepting these Terms, you are deemed to have accepted the terms and conditions of our third party service providers including but not limited to, for the avoidance of doubt, the relevant Lucy Cardholder Terms.

1.3. Once you have completed the above and you have passed our internal checks, we shall make the Lucy Home Screen available to you.

1.4. You confirm that you have provided the correct Information during the process of creating a Lucy Account. You undertake that, if your details change, you will update them immediately via the Mobile App. You shall bear any losses that occur due to the submission of invalid, incorrect or inaccurate Information.

 

Regulatory information

2.1. These Terms are between you (the “User”, “you” or “your”) and Lucy Holdings Pte. Ltd. (“Lucy”, “we”, “us” or “our”). Lucy is a company incorporated in Singapore (U.E.N. 201939640R) and whose place of business is 13 Stamford Road #02-11, Capitol Piazza, Singapore 178905.

2.2. Lucy Holdings Pte. Ltd. Provides the Lucy Services related to Electronic Money and Lucy Cards through RAPYD Holdings Pte. Ltd., which is regulated as a major payment institution by The Monetary Authority of Singapore (MAS) under the Payment Services Act (No. 2 of 2019). You can verify this information at the MAS website here. Consumer advisory: Consumers (users) are advised to read the terms and conditions carefully. By agreeing to these Terms, you are deemed to have agreed to the relevant Lucy Cardholder Terms as stipulated by Lucy which are available on Lucy’s website.

2.3. These Terms are separate and independent from the Lucy Cardholder Terms which govern the use of your Lucy Card.

 

Commencement, term and your Lucy account

3.1. These Terms shall commence on the day that Lucy confirms to you via the Mobile App that your Lucy Account has been approved and shall continue until terminated in accordance with Clause 31 (Amendments to these Terms) and/or Clause 34 (Termination).

3.2. Your Lucy Electronic Money Account is an account in which Electronic Money, which Lucy has issued to you in exchange for receiving money from you or on your behalf, is stored. The Electronic Money in your Lucy Electronic Money Account may be used by you to enter into:

  1. Lucy Home Screen Transactions; and
  2. Lucy Card Transactions.

3.3. You may be required to provide supplemental information to us to be able to use all of the functionality available.

3.4. When we hold Electronic Money for you, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding money for you in that

(a) we cannot and will not use the funds to invest or lend to other persons or entities;

(b) your Electronic Money will not accrue interest; and

(c) your Electronic Money is not covered by the Deposit Insurance Scheme. The funds corresponding to Electronic Money will be held in one or more segregated bank accounts separately from our own funds.

3.5. As required by the Payment Services Act, our Electronic Money provider (Rapyd Holdings Pte Ltd) safeguards all Client Money in trust accounts held with its Safeguarding Institution DBS Bank Ltd.Client Money is commingled with other customers’ money. Interest from Client Money is not payable to the customers.

3.6. We may stop your access to the Lucy Home Screen and/or the Lucy Card on reasonable grounds relating to:

  1. the security of the Lucy Home Screen or the Lucy Card;
  2. the suspected unauthorised and/or fraudulent use of the Lucy Home Screen or the Lucy Card.

If we do stop your access in such instances, we will inform you via the Mobile App and direct you to our customer services team via the chat function on the Lucy Home Screen.

 

Payment of Social Subscription Fees

4.1 Unless you notify us with appropriate notice before the next due date of your Social Subscription Fees that you want to cancel your Social Subscription, we will automatically charge you the then-applicable periodic Social Subscription Fees using your preferred payment method.

4.2 If your preferred payment method becomes invalid during your subscription period, or if the charge is refused for any other reason outside our control, you authorise us to use any other payment method we have on file in your Lucy Account, in accordance with Clause 16 (Your Balance and Negative Balances). If all of your payment methods on file are declined or we are unable to exercise our right of set-off in accordance with Clause 21 (Our Right to Set-Off), you must provide us with a new eligible payment method within 30 days or your Social Subscription will be cancelled.

Cancellation and refunds

4.3 The Social Subscription Fees are non-refundable except as expressly set forth in these Terms.

4.4 You may cancel the renewal of your Social Subscription at any time by providing us with one calendar months’ notice. Upon such notice, you will be required to contact our customer support team via the chat function on the Lucy Home Screen.

4.5 By signing up for a Social Subscription, you expressly request for the subscription period to commence from the moment that your Social Subscription is confirmed. 

 

 

The Lucy dashboard

5.1. The Lucy Home Screen is our portal where you can, among other things:

  1. perform Top-Ups via Manual Transfers and Lucy Bank Transfers including recurring transfers (once accepting all charges as displayed on the Lucy Home Screen);
  2. review and accept or decline Manual Transfers;
  3. verify your identity with us;
  4. view your Lucy Transaction History;
  5. view the balance and currency of the Electronic Money you hold in your Lucy Electronic Money Account;
  6. enable or disable your Physical Lucy Card, change the PIN on your Physical Lucy Card and access other security features; and
  7. enter the details of your User Bank Account.

5.2. You may access the Lucy Home Screen via the Mobile App.

 

Your Lucy Card

6.1. Once you have been accepted as a Lucy Account holder, we shall allow you to issue your Lucy Card, subject to any issuance charges as set out in Schedule 2 of these Terms.

6.2. If you choose to have a Premium Lucy Card, this will subject to any issuance charges as set out in the Fees and Pricing Section. You may request that we issue you with a spare Premium Lucy Card in which case, we may issue you an additional Premium Lucy Card, subject to any issuance charges as set out in the Fees and Pricing Section.

6.3. Your use of the Lucy Card is subject to the Lucy Cardholder Terms.

6.4. You may activate and de-activate a Physical Lucy Card using the Lucy Mobile App. Failure to disable the Physical Lucy Card upon becoming aware of it being lost or stolen may mean that you lose your right to any compensation for an unauthorised Lucy Transaction.

 

Verification of identity

7.1. You agree to cooperate with all requests made by us or any of our third party service providers on our behalf in connection with your Lucy Account, to identify or authenticate your identity or validate your funding sources or Lucy Transactions. This may include, but not limited to, asking you for further information that will allow Lucy to reasonably identify you, including requiring you to take steps to confirm ownership of your phone number or payment instruments or verifying your Information against third party databases or through other sources.

7.2. We reserve the right to close, suspend, or limit access to your Lucy Electronic Money Account and/or the Lucy Services in the event we are unable to obtain, verify such Information or you do not comply with our requests under Clause 7.1 of these Terms.

7.3. We may confidentially verify the information you provide us with or obtain information on you ourselves or through third parties from secure databases. Some of the searches which we or a third party may perform, such as a credit check, may leave a soft footprint on your credit history. This will not affect your credit rating. By entering into these Terms, you confirm that you consent to us or a third party on our behalf carrying out such verifications.

7.4. You must ensure the information on your Lucy Account is always accurate and up to date. If at any time we believe that your information is outdated or inaccurate, we may contact you and request further information or request that you go through the verification process again. Your Lucy Transaction Limit will be adjusted accordingly while we verify your identity. We shall not be liable for any losses arising out of your failure to maintain up to date information.

 

Top-ups to your Lucy electronic money account

8.1. In order to top-up the Electronic Money in your Lucy Electronic Money Account, you will need to perform a top-up via any method we make available to you from time to time.

8.2. We may, at our reasonable discretion (for example, without limitation, to limit fraud or credit risk), impose limits on the amount of money you can receive through Lucy Services. In order to lift your receiving limit, you must provide us with any supplemental information we request. If you have a top-up limit on your Lucy Electronic Money Account, you may be able to view it by logging onto your Lucy Home Screen and accessing the Profile section. 

Top-Ups via User Bank Transfer and Third Party Bank Transfer

8.3. Where available on the Lucy Home Screen, you may also fund your Lucy Electronic Money Account by entering into a User Bank Transfer or a Third Party Bank Transfer.

8.4 In connection with Clause 8.5 below, upon our receipt of the amount sent via User Bank Transfer (either performed within or outside of the Lucy Home Screen) or a Third Party Bank Transfer, we will issue the corresponding value of Electronic Money to your Lucy Electronic Money Account. The details of the bank account, belonging to Lucy, to send the money to will be set out on the Lucy Home Screen. Please take care (or ask the third party making a Third Party Bank Transfer to take care) to enter the correct bank account details when performing the User Bank Transfer or Third Party Bank Transfer, to make sure the money reaches us. If we receive your money in a currency other than the currency you indicated to us when we provided you with the bank account details, then we will not be liable for any losses that you incur if our bank performs a currency conversion to change the money received into the currency of our bank account to which the money was sent.

8.5. We are required by the Payment Services Act to impose an electronic money stock cap on your daily electronic money balance. This means that the sum of your balances across all Lucy Electronic Money Accounts in your name must not exceed S$ 5,000 or foreign currency equivalent at the end of the day. If for any reason your electronic money balance reaches the allowable limit, you will not be able to top-up or receive incoming transfers until you have reduced your balance.

 

Lucy transactions

9.1. The following are “Lucy Home Screen Transactions”:

  1. “Manual Transfer” – this means us sending Electronic Money into your Lucy Electronic Money Account or from your Lucy Electronic Money Account to the Lucy Electronic Money Account of a different Lucy User or between your Lucy Electronic Money Accounts, on explicit request from you or a third party;
  2. “Automatic Transfer” – this means us sending Electronic Money into your Lucy Electronic Money Account or from your Lucy Electronic Money Account to the Lucy Electronic Money Account of a different Lucy User or between your Lucy Electronic Money Accounts, on a date and for an amount that has previously been determined by the sending party;  and
  3. “Lucy Bank Transfer” – this means us redeeming Electronic Money in your Lucy Electronic Money Account, with or without an associated Monetary Exchange taking place, and transferring the equivalent amount of money to the Counterparty Bank Account.

9.2. The following are “Lucy Card Transactions”:

  1. “ATM Withdrawal” – this means you using your Physical Lucy Card and Card PIN to obtain cash internationally from an ATM in countries outside of Singapore with or without a Monetary Exchange taking place; and
  2. “Lucy Card Purchase” means you using your Lucy Card to purchase goods and/or services from a merchant by entering the details of your Lucy Card and/or your Card PIN.

9.3. Lucy may refuse to enter into a Lucy Transaction with you at any time and for any reason.

9.4. Lucy provides virtual receipts for successful Lucy Transactions, which are accessible on the Lucy Home Screen. In addition to virtual receipts, merchants should provide you with receipts when you enter into a Lucy Card Purchase. Lucy will not and is under no obligation to provide you with a physical receipt or other written confirmation in connection with any Lucy Transaction.

 

Manual and Automatic Transfers

10.1. You are able to send your Electronic Money using the Lucy Home Screen.

10.2. You can make a request to enter into a Manual Transfer or Automatic Transfer by logging onto the Lucy Home Screen and following the on-screen instructions. You will need to enter the Counterparty’s details requested on the Lucy Home Screen (the ‘unique identifier’) in order to request entry into a Transfer. It is your responsibility to make sure that the Counterparty’s unique identifier is entered correctly. Any error may result in the Transfer being unsuccessful or delayed. We shall not be liable for any losses you incur from entering an incorrect unique identifier.

10.3. If the Counterparty is already a Lucy User, you will be informed on the Lucy Home Screen, prior to confirming your request to enter into the Transfer, of:

  1. the Counterparty’s name;
  2. the amount and currency of Electronic Money you wish to send to the Counterparty; and
  3. the fees for the  Transfer (if any).

10.4. In order to submit the request to enter into the Transfer, you will need to confirm the details which have been entered by hitting the button entitled “Send” on the relevant part of the Lucy Home Screen. Once you have provided confirmation (provided the Counterparty is a Lucy User), then at this time we will have been deemed to have received your request to enter into the Transfer.

10.5. If the Counterparty is not a Lucy User, then the request to enter into a Transfer shall be pending for 24 hours (excluding weekends and public holidays in Singapore). The request to enter into the Transfer will not be deemed as received until the Counterparty is approved as a Lucy User, within the 24 hours (excluding weekends and public holidays in Singapore) that the Transfer is pending. The Counterparty will receive an SMS, email or WhatsApp message (collectively, “Electronic Messages”) with instructions on how to open a Lucy Account. You authorise Lucy to send an Electronic Message to the Counterparty on your behalf. If the Counterparty does not sign-up to Lucy within 24 hours of the Electronic Message being sent to them, then the pending Transfer will be terminated.

10.6. If the Counterparty is not a Lucy User then:

  1. the request to enter into the Transfer will be pending and will not be deemed to have been received by us until the non-Lucy User has been accepted as a Lucy User;
  2. the Transfer should be completed at the latest by the end of the Business Day following the day upon which the Counterparty becomes a Lucy User, provided the Counterparty becomes a Lucy User before the pending  Transfer lapses.

10.7. Once your Electronic Money has been sent, you will be able to view the completed Transfer on the Lucy Transaction History part of the Lucy Home Screen.

10.8. As required by the Payment Services Act, we impose an electronic money flow cap (S$ 30,000 or foreign currency equivalent) on an annual rolling basis on all your outbound electronic money transactions (including transfers), except:

  • Domestic transfers to a personal deposit account held in your own name, including transfers to your External Account (designated personal deposit account)
  • Domestic transfers to another person’s personal deposit account
  • Cross-border transfers to a personal deposit account held in your own name

 

Lucy bank transfer and monetary exchange

11.1. You can make a request to enter into a Lucy Bank Transfer by logging onto the Lucy Home Screen and following the on-screen instructions. You will need to enter the Counterparty Bank Account details and other Counterparty information. It is your responsibility to make sure that the details of the Counterparty and the Counterparty Bank Account (the ‘unique identifiers’) are entered correctly. Any error in information may result in the Lucy Bank Transfer being unsuccessful or delayed. We shall not be liable for any losses you incur from entering incorrect Counterparty or Counterparty Bank Account details.

11.2. You will be informed on the Lucy Home Screen, prior to confirming your request to enter into the Lucy Bank Transfer, of:

  1. the details of the Counterparty Bank Account and any other recipient information that may be requested;
  2. the amount and currency of money you wish to send to the Counterparty; and
  3. the fees for the Lucy Bank Transfer (if any).

11.3. In order to submit the request to enter into the Lucy Bank Transfer, you will need to confirm the details which have been entered by hitting the ‘tick’ button on the relevant part of the Lucy Home Screen.

11.4. The request to enter into the Lucy Bank Transfer or a Lucy Bank Transfer via recurring payments shall be deemed to be received at the time at which you provide your confirmation except that where the request to enter into a Lucy Bank Transfer would otherwise be deemed to be received on a day which is not a Business Day or is received after 4.00 pm, Singapore Time on a Business Day, we have the right to treat the request to enter into the Lucy Bank Transfer as having been received on the next Business Day.

11.5. Where the Payment is denominated in Singapore Dollars, or a currency other than Singapore Dollars, we shall endeavour to ensure that we action the Lucy Bank Transfer as soon as is reasonably practicable and in any event, within at least 7 Business Days.

11.6. If the currency of the Counterparty Bank Account (in accordance with the information provided by you on the Lucy Home Screen) is different to the currency of the Electronic Money you are using to enter into the Lucy Bank Transfer, then as part of the Lucy Bank Transfer we shall perform a Monetary Exchange to the appropriate currency prior to sending the money to the Counterparty Bank Account. In this event, you will be informed of the Exchange Rate for the Monetary Exchange prior to confirming the Lucy Bank Transfer.

11.7. Where applicable, you may revoke your request to enter into a recurring payment via Lucy Bank Transfer at any time prior to the end of the Business Day prior to the date upon which the Lucy Bank Transfer recurring payment is due to take place.

11.8. Once the Lucy Bank Transfer has been completed, you will be able to view the completed Lucy Bank Transfer on the Lucy Transaction History part of the Lucy Home Screen.

11.9. If, for whatever reason, the funds are not deposited in the Counterparty Bank Account and are returned to Lucy, they will be converted into the currency of the Electronic Money they were originally withdrawn from. Due to the difference in price for purchasing and selling currencies and/or fluctuations in currency exchange rates, the amount of Electronic Money you receive back into your Lucy Electronic Money Account may be more or less than what was originally redeemed to perform the Lucy Bank Transfer. Lucy is not liable for any losses you incur in this respect.

11.10. Some Counterparties accept payment by setting recurring payments to be deducted from your Lucy Electronic Money Account on a regular basis. The amount of the recurring payment and the intervals at which the payments will be deducted is determined by the arrangement between you and the relevant Counterparties and their terms and conditions will apply. If you wish to amend or cancel your recurring payment, you may only do this by contacting the Counterparties directly.

11.11. As required by the Payment Services Act, we impose an electronic money flow cap (S$ 30,000 or foreign currency equivalent) on an annual rolling basis on all your outbound electronic money transactions (including bank transfers), except:

  • Domestic transfers to a personal deposit account held in your own name, including transfers to your External Account (designated personal deposit account)
  • Domestic transfers to another person’s personal deposit account
  • Cross-border transfers to a personal deposit account held in your own name

 

ATM withdrawal and monetary exchange

12.1. You can use your Physical Lucy Card to withdraw cash internationally from an ATM in countries outside of Singapore. In such an event we will redeem Electronic Money in your Lucy Electronic Money Account and you will be provided with the equivalent amount of cash. You will need to follow the instructions on the ATM machine to perform the ATM Withdrawal. This may involve entering your Card PIN.

12.2. We do not charge for ATM Withdrawals up to the threshold set out in the Fees and Pricing Section. If you withdraw more than the threshold, then each ATM Withdrawal will be subject to the fee set out in the Fees and Pricing Section. 

12.3. If you choose to withdraw cash in a currency other than the currency for which you hold enough Electronic Money in your Lucy Electronic Money Account, then our Exchange Rate will be used.

12.4. If you choose to withdraw cash using the currency conversion offered by the ATM owner, Lucy has no liability to you for that currency conversion. You can find more information on this at here. Please note that the ATM provider may, in addition charge its own fee for ATM Withdrawals which we have no control over or liability for.

12.5. As required by the Payment Services Act, we impose an electronic money flow cap (S$ 30,000 or foreign currency equivalent) on an annual rolling basis on all your outbound electronic money transactions (including bank transfers), except:

  • Domestic transfers to a personal deposit account held in your own name, including transfers to your External Account (designated personal deposit account)
  • Domestic transfers to another person’s personal deposit account
  • Cross-border transfers to a personal deposit account held in your own name

 

Lucy card purchase and monetary exchange

13.1. You can use your Lucy Card to purchase goods and/or services from a merchant either online or at a point of sale terminal anywhere that accepts the Lucy Card. In such an event we will redeem Electronic Money in your Lucy Electronic Money Account and the merchant will be sent, less any fees from Lucy or the Card Issuer, the equivalent amount of money. You will need to follow the instructions on the relevant website or point of sale machine to perform the Lucy Card Purchase. This may involve you entering the details of Lucy Card (the card number, expiry date and CVC number) or your Card PIN.

13.2. If you choose to be charged for your purchase in a currency other than the currency for which you hold enough Electronic Money in your Lucy Electronic Money Account, then our Exchange Rate will be used.

13.3. Where a currency conversion is offered to you by the merchant and you choose to authorise the payment transaction on the basis of the merchant’s exchange rate and charges, Lucy has no liability to you for that currency conversion. You can find more information on this here.

13.4. As required by the Payment Services Act, we impose an electronic money flow cap (S$ 30,000 or foreign currency equivalent) on an annual rolling basis on all your outbound electronic money transactions (including card purchases), except:

  • Domestic transfers to a personal deposit account held in your own name, including transfers to your External Account (designated personal deposit account)
  • Domestic transfers to another person’s personal deposit account
  • Cross-border transfers to a personal deposit account held in your own name

13.5. Lucy does not have any control over the products or services that are paid for using the Lucy Card. Lucy is not responsible for the quality, performance, delivery or any consequential results of the products and/or services purchased using the Lucy Card. If you have any dissatisfaction with products and/or services purchased with the Lucy Card, you should contact the merchant directly.

 

Receive electronic money

14.1. If you receive Electronic Money into your Lucy Electronic Money Account, we will send a notification to the Lucy Home Screen and display the payment in your Lucy Transaction History.

14.2. You can request a payment from another Lucy User by using the “Get Money” function or other functions made available to you from time to time on the Lucy Home Screen. You should only use this function for amounts owed to you and that are due for payment in full. This service may not be used as a debt collection or enforcement tool.

14.3. We are required by the Payment Services Act to impose an electronic money stock cap on your daily electronic money balance. This means that your electronic money balance must not exceed S$ 5,000 at any time. If for any reason your electronic money balance is larger than the allowable limit, you will not be able to top-up or receive incoming transfers until you have reduced your balance.

 

Exchange rates

15.1. The “Exchange Rate” means the:

  1. “Standard Exchange Rate”; or
  2. “Non-Standard Exchange Rate”

depending on the value of the Electronic Money Exchanges and Monetary Exchanges carried out by you in the given month, further details of which are set out in the Fees and Pricing Section.

15.2. Generally, for major currencies during FX market hours the Standard Exchange Rate will be the interbank rate. However, in certain circumstances, it is not possible for the Standard Exchange Rate to be the interbank rate including when the FX market is closed on weekends or on public holidays or when your Exchange Rate involves illiquid currencies. It may also not be possible for the Standard Exchange Rate to be the interbank rate due to other external factors such as volatile market conditions, a system failure of Lucy or any other external factors. In such instances, the Standard Exchange Rate will be different from the interbank rate. Please see the Fees and Pricing Section for more details.

15.3. We will use the Exchange Rates set out in the Fees and Pricing Section, where we can, however you will be informed (where possible) of the exact Exchange Rate for each Lucy Transaction prior to your entry into the same. It is your responsibility to ensure that you are happy with the Exchange Rate we offer you, prior to entering into each Lucy Transaction. In addition, our live exchange rates are available on the Lucy Home Screen.

 

Your balance and negative balances

16.1. You acknowledge that balances and available funds reported on the Lucy Home Screen are only approximate real time balances rather than the settled balances in your Lucy Electronic Money Account. A real time balance may not take into account pending debits and credits. Lucy will provide you with information on pending debits and credits as soon as it has that information.

16.2. If for any reason (including, but not limited to, any technical errors on our behalf or on behalf of our third-party providers) you have a negative balance in your Lucy Electronic Money Account, you agree to immediately Top-Up the required amount to correct the negative balance, such amounts being due without the need for previous notification. If you fail to do so:

  1. we may exercise our right of set-off in accordance with Clause 21 (Our Right to Set-Off) of these Terms;
  2. initiate a chargeback procedure for any specific transaction which led to your Lucy Electronic Money Account having a negative balance;
  3. take debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge you the expenses we reasonably incur in connection with any debt collection or enforcement efforts;
  4. if Lucy requests that you complete a Top-Up in order to correct a negative balance and you fail to do so within 7 Business Days, where applicable, you authorise us to initiate a payment transaction for the amount of the negative balance (or the equivalent in another currency) from one of your User Bank Accounts.

 

Security

17.1. You must ensure that you take all reasonable steps to:

  1. ensure that your Mobile and your Mobile PIN is kept safe and secure;
  2. ensure that access to the Lucy Home Screen is kept safe and secure; and
  3. ensure your Lucy Card PIN and other unique numbers (including CVC, expiry and card number) are kept safe and secure.

17.2. The requirement in Clause 17.1 includes, but is not limited to, for the avoidance of doubt: you:

  1. closing the Mobile App every time you are not using it;
  2. keeping the Mobile you use to gain access to the Lucy Home Screen safe and secure and locked with a secure password or other security mechanism;
  3. not writing down or telling anyone your Mobile PIN;
  4. changing your Mobile PIN regularly;
  5. if you receive any SMSs or emails, questionnaires, surveys, or other links that require you to provide your Mobile PIN, not providing your information and contacting our customer services team via the support function on the Lucy Home Screen;
  6. ensuring that the Mobile and e-mail account(s) you use to communicate with us are secure and only accessed by you, as the Mobile and e-mail address may be used to reset your Mobile PIN or to send information relating to the security of the Lucy Home Screen;
  7. if at any time you think that your Mobile PIN has been lost, stolen or any other person knows your Mobile PIN or anyone has access to your e-mail account or Mobile you use to communicate with us, informing customer services immediately via the chat function on the Lucy Home Screen;
  8. updating the Mobile App to the latest version available for your device as it may contain security updates;
  9. keeping your Lucy Card safe and secure;
  10. not writing down or telling anyone your Card PIN or details of the Lucy Card; and
  11. disabling your Lucy Card via the Lucy Home Screen or otherwise reporting to us, at any time if you think the security of the Lucy Card is at risk, for example, if it is lost or stolen.

17.3. All Lucy Transactions are processed by automated methods, and anyone who obtains access credentials to the Lucy Home Screen or access to a Lucy Card could use it to enter into Lucy Transactions without your permission. If you notice misuse, theft or unauthorised use of your Mobile, Lucy Card, Mobile PIN or Card PIN or any other activity that makes you suspicious, you must contact the customer services team and if possible enable the appropriate security features on the Mobile App. If you suspect identity theft or theft of Electronic Money, we suggest that you contact your local police as well.

 

Restrictions on the use of the Lucy services

18.1. It is not permitted to:

  1. use the Lucy Services for any illegal purposes, including, but not limited to fraud and money laundering, unlawful sexually oriented materials or services, counterfeit products, unlawful gambling activities, fraud, money laundering, the funding of terrorist organisations, the unlawful purchase or sale of tobacco, firearms, prescription drugs, other controlled substances or other products prohibited by law. Lucy will report any suspicious activity and cooperate with any relevant law enforcement agency or regulator;
  2. use the Lucy Services to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides, or to obtain goods or services without paying the amount due partially or in full;
  3. breach these Terms, the Lucy Cardholder Terms (as applicable) or any other agreement or policy that you have agreed with Lucy or with the Card Issuer;
  4. create more than one Lucy Account without our prior written consent;
  5. use the Lucy Services to violate any law, statute, ordinance, or regulation;
  6. use the Lucy Services for any illegal purposes including the purchase or sale, or the facilitation of the purchase or sale of, illegal goods or services;
  7. use the Lucy Services to conduct activities pertaining to adult entertainment/pornography, auction houses, charities, chemicals and allied products, dating and escort services, binary options, legal services, political or religious organisations, video game arcades or establishments and business claiming to trade in prime bank guarantees, debentures, letters of credit or medium term notes;
  8. infringe Lucy’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
  9. act in a manner that is defamatory, libellous, threatening or harassing when using the Lucy Services;
  10. provide us with false, inaccurate or misleading information;
  11. use the Lucy Services to engage in debt-collection activities;
  12. instruct us to send or receive what we reasonably believe to be potentially fraudulent funds on your behalf;
  13. attempt to intentionally or knowingly receive or attempt to receive funds from both Lucy and a merchant for the same Lucy Transaction;
  14. control a Lucy Account that is linked to another Lucy Account that has engaged in any of these Restricted Activities;
  15. conduct your business or use the Lucy Services in a manner that is likely to result in or may result in complaints, disputes, reversals, chargebacks, fees, fines, penalties or other liability to Lucy, other Users, third parties or you;
  16. use your Lucy Account or the Lucy Services in a manner that Lucy, the Card Issuer, Visa, MasterCard, American Express, Discover or any other electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules;
  17. allow your Lucy Electronic Money Account to have a negative balance;
  18. provide yourself with a cash advance from a credit card in your name (or help others to do so);
  19. take any action that imposes an unreasonable or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information; use an anonymising proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our Website without our prior written permission; or interfere or attempt to interfere with the Lucy Services;
  20. take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers;
  21. use the Lucy Services to test credit card behaviours;
  22. circumvent any Lucy policy or determinations about your Lucy Electronic Money Account including, but not limited to, attempting to create a new or additional Lucy Account when a Lucy Electronic Money Account has a negative balance or has been restricted, suspended or otherwise limited; creating new or additional Lucy Electronic Money Accounts using Information that is not your own (e.g. name, address, email address, etc.); or using someone else’s Lucy Electronic Money Account;
  23. harass our employees, agents, or other Users;
  24. refuse to cooperate in an investigation or provide confirmation of your identity or any Information you provide to us;
  25. use the Lucy Services in a manner that we believe may be a violation of any applicable electronic payment network rules, card association or network rules, or applicable law;
  26. use the Lucy Services to trade FX for speculative purposes or for FX arbitrage;
  27. refuse or fail to provide further information about you or your business activities that we may reasonably request;
  28. conduct your business or use the Lucy Services in a manner that leads us to receive a disproportionate number of claims or chargebacks;
  29. have a credit score provided by a third party provider of Lucy’s choosing which indicates a higher level of risk associated with your use of the Services; and/or
  30. reveal your Mobile PIN or Card PIN to anyone or use anyone else’s Mobile App or Lucy Card.

18.2. You must ensure that you only enter into Lucy Transactions relating to the sale or supply of goods and services in compliance with all applicable laws and regulations. The fact that a person or entity accepts payments via a Lucy Transaction is not an indication of the legality of the supply or provision of the goods and services.

18.3. We reserve the right to refuse to perform a Lucy Transaction directly or indirectly associated with any Restricted Country.

18.4. If Lucy, in its sole discretion, believes that you may have breached the provision of this Clause, we may take action to protect ourselves, other Users and third parties. The action we may take includes but is not limited to:

  1. closing, suspending, or limiting your access to your Lucy Electronic Money Account or any or all of the Lucy Services.
  2. contacting other Users who have transacted with you; contacting your bank or credit card issuer; and/or warning other Users, law enforcement, or impacted third parties of your actions;
  3. updating inaccurate Information you have provided to us;
  4. taking legal action against you;
  5. terminating these Terms or access to the Website;
  6. fully or partially reversing a Lucy Transaction; and/or
  7. blocking your access to your Lucy Electronic Money Account and/or Lucy Home Screen temporarily or permanently.

18.5. Where possible, Lucy will provide you with the relevant information regarding the actions imposed, but we may be unable to do so in accordance with the appropriate law including avoiding disclosing protected third party information or interfering in the course of an investigation.

 

Lucy transaction limits

19.1. We reserve the right to impose at our sole discretion Lucy Transaction Limits, based on criteria determined by us and that does not have to be disclosed.

19.2. You may be able to view some of these Lucy Transaction Limits by logging onto the Lucy Home Screen. Lucy may, from time to time, provide you with procedures or methods to remove or increase such limits. We reserve the right to remove Lucy Transaction Limits from the Lucy Home Screen.

19.3. We are required to impose limits on how much electronic money you can hold and transact. See sections 8.5, 10.8, 11.1, 12.5, 13.4 and 14.3.

 

Suspending your use of the Lucy services

20.1. We reserve the right to change, suspend or discontinue any aspect of the Lucy Services at any time, including hours of operation or availability of the Lucy Services or any Lucy Services feature, without notice and without liability.

 

Our right to set-off

21.1. On the happening of any event which entitles us to be compensated by you (including, but not limited to, any technical errors on our behalf or on behalf of our third-party providers), we shall be entitled to recover any sum due to us by retaining part or all of any sum that you have lodged with us under any Lucy Transaction or otherwise. You shall have no similar right of set-off. For the avoidance of doubt, this includes if one of the currency balances in your Lucy Electronic Money Account shows that you owe us an amount of funds for any reason or has a negative balance, Lucy may set-off the amount you owe us by using funds you maintain or by deducting amounts you owe us from money you receive into your Lucy Electronic Money Account, or money you attempt to withdraw or send from your Lucy Electronic Money Account, or in a different Lucy Electronic Money Account which you control and by deducting funds from any withdrawals you attempt to make.

21.2. On the happening of any event which entitles us to be compensated by you, if for whatever reason we are unable to exercise our right of set-off pursuant to Clause 21.1, we may initiate a payment transaction for the amount we are due to be compensated by you from one of your User Bank Accounts.

21.3. If the amount owed to us is in a currency which is different to the money or Electronic Money you hold with us, we shall convert the amount you hold with us to the currency of the amount you owe us by applying our Exchange Rates. We do not need to notify you of this conversion occurring.

 

Our liability with respect to Manual Transfers, Automatic Transfers, Lucy bank transfers, ATM withdrawals and Lucy card purchases

22.1. You warrant that you are an individual acting solely on your own behalf and are acting for a purpose other than a trade, business or profession.

22.2. If you believe that a Manual Transfer, Automatic Transfer, Lucy Bank Transfer, ATM Withdrawal and/or a Lucy Card Purchase has been incorrectly executed or was not authorised by you, you must inform us as soon as possible via the support function on the Lucy Home Screen. Failure to notify us immediately on becoming aware or within 120 days of the date of the unauthorised or incorrectly executed Manual Transfer, Automatic Transfer, Lucy Bank Transfer, ATM Withdrawal or Lucy Card Purchase will result in you losing your entitlement to have the matter corrected.

22.3. Where it is established that a Manual Transfer, Automatic Transfer, Lucy Bank Transfer, ATM Withdrawal and/or a Lucy Card Purchase was not authorised by you, or was incorrectly initiated or executed by us (provided we can prove such incorrect transaction has taken place) and you have notified us in a timely manner within 120 days of the date of the unauthorised Manual Transfer, Automatic Transfer, Lucy Bank Transfer,  ATM Withdrawal or  Lucy Card Purchase, unless Clause 22.4 applies, we shall refund to you the full amount debited without authorisation.

22.4. You will be liable for:

  1. all losses incurred in respect of a Manual Transfer, an Automatic Transfer, a Lucy Bank Transfer, ATM Withdrawal and Lucy Card Purchase made by us which was not authorised by you, if you have acted fraudulently, or have intentionally or with gross negligence failed to comply with the obligations set out in Clause 17 (Security) or you have not notified us on time in accordance with Clause 22.2; and
  2. where Clause 22.4(1) does not apply, up to SGD60 of any losses incurred in respect of Manual Transfers, Automatic Transfers, Lucy Bank Transfers, ATM Withdrawals and Lucy Card Purchases which were not authorised by you, where you have otherwise failed to comply with your obligations under Clause 17 (Security).

 

General liability

23.1. Except where you have acted fraudulently, you will not be liable for any losses incurred in respect of a Manual Transfer, Automatic Transfer, Lucy Bank Transfer, ATM Withdrawal or a Lucy Card Purchase which was not authorised by you which occurs after you have notified us, without undue delay, on becoming aware of the loss, theft, misappropriation or unauthorised use of the Lucy Card or the Mobile PIN or Card PIN which relates to those losses. You can notify us via the chat function on the Lucy Home Screen.

23.2. We shall not be liable for non-execution or defective execution in relation to a Manual Transfer, Automatic Transfer or Lucy Bank Transfer we have made in accordance with a unique identifier given to us by you which proves to be incorrect. However, we shall make reasonable efforts to recover funds involved in that transaction and may charge you for doing so, including passing on to you charges made by intermediary banks and/or the payee’s bank for their assistance in the tracing process.

23.3. We are not liable to you for the correct execution of a Manual Transfer, an Automatic Transfer, a Lucy Bank Transfer, an ATM Withdrawal or a Lucy Card Purchase, if we can prove to you (and where relevant, to any payee’s payment services provider) that the payee’s payment services provider received the payment within the appropriate time period. We will however, upon your request, make efforts to trace any non-executed or defectively executed payment transactions or any Lucy Bank Transfers which were correctly executed to an account which is deemed fraudulent and notify you of any outcome involving our search.

23.4. Please note that any restriction on your liability in relation to an unauthorised or incorrectly executed payment transaction does not apply to losses arising from and/or in relation to Electronic Money Exchanges or Monetary Exchanges.

23.5. We shall not be liable to you for any:

  1. loss or damage which you may incur as a result of losses or costs caused by abnormal and unforeseeable circumstances outside our reasonable control, which would have been unavoidable despite all efforts to the contrary, which might for example include delays or failures caused by problems with another system or network, mechanical breakdown or data-processing failures;
  2. consequential or indirect loss (such as loss of profits or opportunity) you may incur as a result of us failing to perform our duties under a Lucy Transaction; or
  3. losses as a result of us taking action (or not taking action) as necessary to meet our legal obligations.

23.6. You are responsible for all liabilities, financial or otherwise, incurred by Lucy, the Card Issuer, a Lucy User, or a third party caused by or arising out of your breach of these Terms, your use of the Lucy Services, and any use of your Lucy Account. You agree to reimburse Lucy, the Card Issuer, a Lucy User, or a third party for any and all such liability, to the extent not prohibited by applicable law.

23.7. You remain liable under these Terms in respect of all charges and other amounts incurred through the use of your Lucy Account at any time, irrespective of termination, suspension or closure.

23.8. You alone are responsible for understanding and complying with any and all laws, rules and regulations of your specific jurisdiction that may be applicable to you in connection with your use of the Lucy Services, including but not limited to, those related to export or import activity, taxes or foreign currency transactions. You are liable to the state and other subjects for fulfilment of all tax obligations independently. Lucy shall not be responsible for the execution of tax obligations, or calculation and transfer of taxes applied to you.

23.9. You agree to defend, reimburse or compensate us (known in legal terms to “indemnify”) and hold Lucy, our third party providers, our employees or agents who are authorised to act on our behalf harmless from any claim or demand (including legal fees) made or incurred by any third party due to or arising out of your breach of these Terms, breach of any law and/or use of the Lucy Services.

23.10. Nothing in these Terms shall operate to exclude liability for death or personal injury or for fraud or fraudulent misrepresentation or for any liability cannot be excluded or amended under Singapore law.

23.11. In no event shall Lucy be liable for loss of profits or any special, incidental or consequential damages arising out of these Terms or otherwise in connection with the Lucy Services, howsoever arising.

23.12. We are not liable for any loss you incur resulting from your use of the Lucy Card which shall be subject to the Lucy Cardholder Terms (as applicable).

23.13. To the extent permitted by applicable law, Lucy is not liable, and you agree not to hold it responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from:

  1. your inability to use the Lucy Services for whatever reason;
  2. delays or disruptions in the Lucy Services;
  3. viruses or other malicious software obtained by accessing the Website or any associated site or service;
  4. glitches, bugs, errors, or inaccuracies of any kind in the Lucy Services;
  5. the content, actions, or inactions of third parties;
  6. a suspension or other action taken with respect to your Lucy Account;
  7. your need to modify practices, content, or behaviour, or your loss of or inability to do business, as a result of changes to these Terms or Lucy’s policies; and/or
  8. illegal actions and operations of third persons performed using counterfeited and/or illegal documents or illegally received data.

 

Withdrawing funds

24.1. You may withdraw funds from your Lucy Electronic Money Account by entering into a Lucy Bank Transfer and choosing a User Bank Account as the Counterparty Bank Account or by entering into an ATM Withdrawal or by using any other available method on the Lucy Home Screen or otherwise notified to you from time to time.

24.2. Lucy is not responsible for the withdrawal payment once the funds are received by your payment service provider as Lucy is the payer and not the payment service provider for withdrawals.

 

Closing your account

25.1. Your Lucy Account will be closed at the end of the term of this agreement in accordance with Clause 3.1 or upon termination of these Terms in accordance with Clause 32.1 (Amendments to these Terms) and Clause 35 (Termination). You accept that after your Lucy Account has been closed, Lucy will store personal data about you and your Lucy Transactions for a period of six years.

25.2. If your Lucy Electronic Money Account holds a balance at the time of its closure, we may ask you to withdraw your funds within a reasonable period of time, during which your Lucy Electronic Money Account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period you will not be able to access your Lucy Electronic Money Account but you may withdraw any remaining funds for a period of six years from the date of closure of your Lucy Account by contacting customer service and requesting that the funds be sent to you by returning the funds by either a card refund or bank transfer. When your Lucy Account is closed, any pending instructions will be cancelled.

25.3. You may not close your Lucy Account to evade an investigation. If you attempt to close your Lucy Account while Lucy is conducting an investigation, it may freeze the account to protect all parties to the Lucy Services, its affiliates, or a third party against any liability. You will remain liable for any obligations related to your Lucy Account even after it is closed.

 

Notice and communications

26.1. You agree and consent to electronic receipt of all Communications that we provide in connection with the Lucy Services. We will provide Communications to you by making them available on the Lucy Home Screen or by emailing them to you at the primary email address listed in your Lucy Account Profile.

26.2. It is your responsibility to ensure that you log onto the Lucy Home Screen regularly and regularly review the Lucy Home Screen, the Website and your primary email address and open and review communications that we deliver to you through those means. You are obligated to review your notices and Lucy Transaction History, and to promptly report any questions, apparent errors, or unauthorised Lucy Transactions. Failure to contact us in a timely manner may result in loss of funds or important rights.

26.3. We may contact you from time to time to notify you of changes or information regarding your Lucy Account. It is your responsibility to ensure you regularly check the Lucy Home Screen and that your contact information stored on your profile in the Lucy Home Screen is up to date. You may contact us in accordance with these Terms via the chat function on the Lucy Home Screen.

 

Data

27.1. The processing of your data is governed by these Terms, any applicable Supplements as well as our Privacy Policy.

27.2. Lucy reserves the right to transmit the Information or personal data about you as well as activity in your Account to law enforcement institutions, state authorities and financial institutions, if such is necessary to comply with relevant legislation, and in order to identify whether these Terms and relevant legislation have not been violated.

27.3. When you use the Lucy Services we may collect precise location data about a Lucy Transaction. If you permit the Mobile App to access location services through the permission system used by your mobile operating system, we may also collect the precise location of your device when the app is running in the foreground or background. We may also derive your approximate location from your IP address. You may opt out of providing location data through the Mobile App, unless you opt out of providing location data, you consent to the collection, use, sharing and onward transfer of location data, as further set forth in the Privacy Policy.

27.4. By providing Lucy with a telephone number (including a mobile telephone number), you agree to receive autodialed and pre-recorded message calls at that number. The ways in which you provide us a telephone number include, but are not limited to, providing a telephone number at Lucy Account opening, adding a telephone number to your profile on your Lucy Home Screen at a later time, providing it to one of our employees, or by contacting us from that phone number. If a telephone number provided to us is a mobile telephone number, you consent to receive SMS or text messages at that number, for service-related matters. We will not share your phone number with non-affiliated third parties for their purposes without your consent and we will never market, advertise, or solicit you using autodialing or pre-recorded messages, but we may share your phone numbers with our affiliates or with other service providers, such as billing or collections companies, who may contact you using autodialed or pre-recorded message calls or text messages.

27.5. You understand and agree that Lucy may, without further notice or warning and in our discretion, monitor or record the telephone conversations you or anyone acting on your behalf has with Lucy or its agents for quality control and training purposes or for its own protection. You acknowledge and understand that, while your communications with Lucy may be overheard, monitored, or recorded without further notice or warning, not all telephone lines or calls may be recorded by Lucy, and Lucy does not guarantee that recordings of any particular telephone calls will be retained or retrievable.

27.6. You agree that we can use your Information in connection with your Lucy Account, to enable us to review, develop and improve our products and services. This may involve providing your Information to our partners, affiliates, agents, distributors and suppliers to process Lucy Transactions and for their statistical research and analytical purposes. We may also disclose your Information as required by law, regulation or any competent authority or agency to investigate possible fraudulent, unlawful or unauthorised activity.

27.7. You understand and agree that we may collect information about how you and other Lucy Users interact with the Lucy Services. We may access the address book on your device and store names and contact information to facilitate social interactions through the Lucy Services and for other purposes. We may access the photo gallery on your device to obtain images for identity verification purposes. We collect transaction details related to your use of the Lucy Services, including the type of service requested, date and time the service was provided, amount charged and other related transaction details. We may collect information about your mobile device, including for example, the hardware model, operating system and version, software and file names and versions, preferred language, unique device identifier, advertising identifiers, serial number, device motion information and mobile network information. You agree that we may use the information that we collect to facilitate interactions with the Lucy Services, including sharing certain non-sensitive information about you with other Lucy Users.

 

Intellectual property

28.1. The Lucy Home Screen and the Website and all intellectual property rights contained therein, including but not limited to any content, are owned or licenced by us. Intellectual property rights means rights such as: copyright, trademarks, domain names, design rights, database rights, patents and all other intellectual property rights of any kind whether or not they are registered or unregistered (anywhere in the world). Lucy’s intellectual property includes “WeLucy.com,” “Lucy”, and all logos related to the Lucy Services. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Lucy. You may not copy, imitate, or use them without our prior written consent.

28.2. We reserve all of our rights in any intellectual property in connection with these Terms. This means, for example, that we remain owners of them and free to use them as we see fit.

28.3. Nothing in these Terms grants you any legal rights in the Lucy Home Screen and/or the Website, other than as necessary to enable you to access the Lucy Home Screen. You agree not to adjust or try to circumvent or delete any notices contained on the Lucy Home Screen (including any intellectual property notices) and in particular in any digital rights or other security embedded or contained within the Lucy Home Screen.

 

Requesting information

29.1. You may request, at any time during the extent of these Terms, a copy of these Terms.

 

Customer support and complaints

30.1. We take all complaints seriously. Any complaints about us or the services we provide should be using the support function on the Lucy Home Screen. You should clearly indicate that you are wishing to make a complaint to us. This helps us to distinguish a complaint from a mere query. Our complaints procedure (available on our Website) sets out the process for submitting and resolving any complaints. You may request a copy of our complaints procedure at any time by contacting customer services via the chat function on the Lucy Home Screen.

30.2. A final response to your complaint, or a letter explaining why the final response has not been completed, will be sent to you within 14 Business Days of your complaint having been made. Should this not be possible due to unforeseen circumstances or lack of information, we will contact you.

30.3. If after having received our final response you are still unhappy or not satisfied, you may, if your complaint falls within the jurisdiction of the Consumer Association of Singapore, be able to take your complaint to the Consumer Association of Singapore (CASE) details of which are available here. You can also call the CASE on 6100-0315 or write to: Consumer Association of Singapore, 170 Ghim Moh Road #05-01 Ulu Pandan Community Building Singapore 279621.

 

Amendments to these terms

31.1. These Terms may be amended unilaterally by us, by providing you with two months’ notice. These changes will be deemed to have been accepted by you where you do not, before the proposed date of the entry into force of the changes, notify us to the contrary. If you do notify us to the contrary, your notification will be deemed to be a notice that you wish to close your Lucy Account and terminate these Terms on the date upon which the changes are to take effect.

31.2. Where an amendment to the Terms is required by law or relates to the addition of a new service, extra functionality to the existing Service, a reduction in the cost of the Services or any other change which neither reduces your rights nor increases your responsibilities, the amendment may be made without prior notice to you and shall be effective immediately.

 

Fees

32.1. The fees we charge for the Lucy Services are set out in the separate Fees and Pricing Section to these Terms. We will provide you with notice of any changes to the Fees and Pricing Section in accordance with these Terms. It is your responsibility to stay informed and review these changes once we have provided you notice of a change to our fees.

32.2. The fees we charge for any other transactional fees are clearly shown on the Lucy Home Screen prior to you completing an action and accepted by you or a User.

32.3. We shall deduct the fees that you owe us from the balance in your Lucy Electronic Money Account. If there is not enough Electronic Money in your Lucy Electronic Money Account to pay your fees, then we reserve the right to suspend your access to your Lucy Services if we are not paid any monies owing to use by you on time.

32.4. Fees for the delivery of replacement Physical Lucy Cards shall be charged at the time the request for Physical Lucy Card is made. If your Lucy Electronic Money Account balance is insufficient to cover the fees for the delivery of the replacement Physical Lucy Card, then we may refuse to issue the replacement Physical Lucy Card. If your Physical Lucy Card has been lost, stolen or misappropriated we will only charge you for the costs associated with replacing your Physical Lucy Card and sending it to your applicable jurisdiction.

32.5. ATM Withdrawal fees will be charged at the time the ATM Withdrawal is performed. If your Lucy Electronic Money Account balance is insufficient to cover the ATM Withdrawal fees, we may refuse to execute the ATM Withdrawal. Please be aware that some ATM providers charge additional fees for the use of their ATMs and some merchants add a surcharge for accepting certain types of cards. You may also be subject to the merchant’s terms and conditions of business when you use the Lucy Card and it is your responsibility to review and agree these before proceeding with a Lucy Card Transaction.

 

No warranty

33.1. The Lucy Services are provided on an “as is”, “as available” basis and without any representation or warranty, whether express, implied or statutory. Lucy, and the officers, directors, agents, joint ventures, employees and suppliers of Lucy, make no representation or warranty of any kind whatsoever for the services or the content, materials, information and functions made accessible by the Lucy Services used on or accessed through the Lucy Services, or for any breach of security associated with the transmission of sensitive information through the Lucy Services.

33.2. Lucy does not warrant that the Lucy Services will be uninterrupted or error free. Lucy shall not be responsible for any service interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of Lucy Transactions or the Lucy Services.

33.3. Lucy does not have any control over the products or services that are paid for using the Lucy Services.

33.4. Lucy is not responsible for the quality, performance, or any consequential results of the products and/or services purchased using the Lucy Services.

 

Termination

34.1. Lucy, in its sole discretion, may terminate these Terms at any time, by giving you two months’ notice. The termination of these Terms will not affect any of our rights or your obligations arising under these Terms.

34.2. You may terminate these terms at any time by providing us with one month’s notice, such notice to be provided using the support function on the Lucy Home Screen.

34.3. Without prejudice to any rights that have accrued under these Terms, or any party’s other rights or remedies, either party may at any time terminate these Terms with immediate effect by giving written notice to the other party if:

  1. the other party commits a material breach of any term of these Terms and (if such breach is remediable) fails to remedy that breach within a period of 30 days after being notified in writing to do so;
  2. the other party repeatedly breaches any of the terms of these Terms in such a manner as to reasonably justify the opinion that its conduct is inconsistent with it having the intention or ability to give effect to the terms of these Terms;
  3. the other party is subject to a bankruptcy, insolvency, winding up or other similar event; and/or
  4. the result of laws, payment scheme rules, regulatory authority rules or guidance or any change in or any introduction thereof (or change in the interpretation or application thereof) means that it is unlawful or contrary to any such law, rules, order or regulations for either of the parties to perform or give effect to any of its obligations hereunder and such obligation cannot be readily severed from these Terms.

34.4. Without prejudice to any rights that have accrued under these Terms or any of the party’s rights or remedies, we may at any time terminate these Terms with immediate effect by giving written notice to you if:

  1. we are unable to verify your information in the manner set out in these Terms;
  2. you die;
  3. we have reason to believe that your use of the Lucy Services: damages, corrupts, degrades, destroys and/or otherwise adversely affects the Lucy Services, or any other software, firmware, hardware, data, systems or networks accessed or used by you;
  4. there is a significant fluctuation (either positive or negative) in the aggregate number of Lucy Transactions you enter into;
  5. you have acted or omitted to act in any way which we reasonably determine to diminish Lucy’s (or the Card Issuer’s) business operations and/or reputation and/or goodwill and/or which we reasonably determine or suspect to give rise to any offence or any increased risk or liability to us; and/or
  6. we are unable to provide the Lucy Services to you through the inability of any third party to provide us with any good and/or service that we require to provide the Lucy Services to you.

34.5. Other actions we may take. If you have breached the terms of these Terms (including a breach of your obligation to pay us any amount owing), we are otherwise entitled to terminate these Terms, or we may: suspend your use of the Lucy Services (in whole or in part) in which case we will not treat any order for a Lucy Transaction that you may wish to make as being received by us; report any Lucy Transaction or any other relevant information about you and your use of the Lucy Services to the relevant regulatory authority, law enforcement agency and/or government department; and/or if appropriate, seek damages from you.

34.6. Termination of these Terms requires the closing of your Lucy Electronic Money Account in accordance with Clause 25 and the termination of all Lucy Cards and the associated Lucy Cardholder Terms (as applicable). Lucy will deal with your remaining balance in accordance with these Terms and the Lucy Cardholder Terms (as applicable).

34.7. Any terms which by their nature should survive, will survive the termination of these Terms.

 

Third party providers

35.1 If applicable, you can choose to allow a Third Party Provider (TPP) to access information on your Lucy Account, to combine and display information about your Lucy Account with information from accounts you have with other payment service providers, and, if applicable to your Lucy Card, to make payments for you from your Lucy Account, provided the TPP is authorised by the Monetary Authority of Singapore.

35.2 If you do, you must keep us informed of any incorrect or unauthorised transactions that happen so we can take steps to stop further misuse of your Card and arrange any refund you’ve been entitled to.

35.3 If you are thinking of using a TPP, it is important you check with the applicable regulator whether it is authorised before you use it.

35.4 We can refuse or stop access to a TPP if we’re concerned it isn’t authorised or if we believe it’s fraudulent or acting fraudulently. If that happens, we’ll contact you to explain why unless we believe that would compromise our security or it would be unlawful.

 

Miscellaneous

36.1. In order to use other functions of the Lucy Services, you may be requested to accept other terms and conditions, either with Lucy or with a third party.

36.2. To be eligible to use the Lucy Services, you must:

  1. pass our regulatory due diligence checks;
  2. not be in breach of these Terms; and
  3. not have had any previous Lucy Account closed by us.

36.3. These Terms shall be governed by the laws of Singapore and any claim or dispute arising out of or in relation to these Terms shall be subject to the non-exclusive jurisdiction of the courts of Singapore.

36.4 We may report any unlawful activity (or suspected unlawful activity) by you or another person to the police or other appropriate authorities, and cooperate with them in any investigation. We may also require your reasonable cooperation in alternative dispute resolution procedures as a means of disputing or issuing any claims in relation to these Terms.

36.5. These Terms do not intend to confer any benefit on any third party and no third party shall have the right to enforce these Terms or any Lucy Transactions.

36.6. The Electronic Money in your Lucy Electronic Money Account belongs to the person or legal entity which is registered as the Lucy Account holder. We recognise only the rights of the holder of the Lucy Account. You cannot assign or transfer legal ownership of the Lucy Electronic Money Account to anyone.

36.7. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. We are not responsible for determining whether taxes apply to your Lucy Transactions, or for collecting, reporting or remitting any taxes arising from any Lucy Transactions. In certain circumstances, the laws of the country in which you carry out a Lucy transaction may permit Lucy to collect from you stamp duty or other tax up to the maximum amount specified by applicable laws.

It is your responsibility to comply with any and all applicable tax laws in connection with your use of the Lucy Services, including without limitation, the reporting and payment of any taxes arising in connection with Lucy Transactions made through the Lucy Services.

36.8. If we fail to enforce any of our rights under the Terms, or applicable laws, it shall not be deemed to constitute a waiver of such right.

36.9. You may not transfer or assign or sell any rights or obligations you have under these Terms or otherwise grant any third party a legal or equitable interest over your Lucy Electronic Money Account without Lucy’s prior written consent. Lucy reserves the right to transfer or assign these Terms or any right or obligation under these Terms at any time.

36.10. We may comply with any subpoena, levy, or other legal process which we believe to be valid. We may notify you of such a process electronically, by phone, or in writing.

36.11. Lucy or the Card Issuer has the right to change any of its third-party service providers, including without limitation the Card Processor, with or without notice.

36.12. Lucy reserves the right, but shall have no responsibility, to edit, modify, refuse to post or remove any provider content, in whole or in part, that in its sole and absolute discretion is objectionable, erroneous, illegal, fraudulent or otherwise in violation of these Terms.

36.13. Unless stated otherwise in these Terms, if any provision of these Terms is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced.

36.14. We do not provide advice and contract on an execution only basis. We may provide information to you from time to time, for example via the Lucy Home Screen or the Website, but we will not and do not provide advice to you either upon the merits of a proposed Transaction or upon any other matter. Before entering into any Lucy Transaction you must make your and their own independent assessment as to whether it is appropriate to enter into a Lucy Transaction based upon your own judgment and upon such advice from such advisers as you consider necessary. It is an express term of every Lucy Transaction which you enter into with us that you are not relying upon any communication (written or oral) made by us as constituting advice about or a recommendation to enter into such Lucy Transaction. Foreign currency exchange rates are subject to fluctuations outside our control. Past movements or trends in the movement of foreign currency exchange rates should not be taken as an indicator of future movements in such exchange rates.

36.15. Clause, Schedule and paragraph headings shall not affect the interpretation of these Terms.

36.16. A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality).

36.17. The Schedules form part of these Terms and shall have effect as if set out in full in the body of this agreement. Any reference to this agreement includes the Schedules.

36.18. A reference to a company shall include any company, corporation or other body corporate, wherever and however incorporated or established.

36.19. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.

36.20. Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders.

36.21. These Terms shall be binding on, and ensure to the benefit of, the parties to these Terms and their respective personal representatives, successors and permitted assigns, and references to any party shall include that party’s personal representatives, successors and permitted assigns.

36.22. A reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time.

36.23. A reference to writing or written includes email and the support function on the Lucy Home Screen.

36.24. Any obligation on a party not to do something includes an obligation not to allow that thing to be done.

36.25. These Terms shall be concluded and interpreted in the English language. If these Terms are translated into another language, it is for reference purposes only. All communications between the parties shall be in the English language.

36.26. A reference to these Terms or to any other agreement or document referred to in these Terms is a reference to these Terms or such other agreement or document as varied or novated (in each case, other than in breach of the provisions of these Terms) from time to time. References to Clauses and Schedules are to the Clauses and Schedules of these Terms and references to paragraphs are to paragraphs of the relevant Schedule.

36.27. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.

36.28. Supplements to these Terms are an integral part of these Terms, under which you and Lucy agree on usage of specific services as defined in the Supplements.