Just received an email from Tymit saying that “for the past three months, we’ve been working hard to upgrade to a new issuing provider. From 23rd November, all Tymit cards will be issued by Transact Payments Ltd, replacing our previous issuer. *You’ll be issued a new Tymit card, which will arrive in the post.”
No new Terms and conditions were attached to the email as stated but the online T&C suggest that the new issuer is located in Gibraltar.
Transact Payments Limited (the Issuer, TPL) being a company incorporated in Gibraltar with registered address 6.20 World Trade Center, 6 Bayside Road, Gibraltar, GX11 1AA and company registration number 108217. TPL is authorised and regulated by the Gibraltar Financial Services Commission as an electronic money institution.
Can you confirm please that the change of domicile of the card issuer in no way limits or affects our protections under UK law and that the FCA, as principal regulator of Tymit, are content that the issuer need not be UK domiciled for its (the FCA’s) regulatory supervision of Tymit, and Consumer protections to be effective?