BREXIT BIN transfer notice


As a valued cardholder of the Kingcard Prepaid Card Programme, as provided by Card Compact Limited Program Management, we would like to advise you of some key changes that may impact the use of your card.  On the 29thMarch 2019, the United Kingdom and Gibraltar will be leaving the European Union.  The United Kingdom and the European Union are in discussions regarding a transition process that will allow for a smooth transition following the United Kingdom and Gibraltar’s exit from the European Union.  We are hopeful that agreement by the United Kingdom and the European Union should be finalised shortly or an extension to the 29thMarch 2019 deadline be agreed.


However, should transition agreement not be finalised by this date we are sorry to advise you that, IDT Financial Services Limited (IDT FSL), the issuer of your King Prepaid Mastercard© would no longer be able to offer the Kingcard Prepaid Card Programme. In order to mitigate such a risk, we have therefore taken the necessary steps to commence the transfer of your Kingcard Prepaid Debit Mastercard© to another Issuer which will allow us to support continued use of your current card or the issue of a replacement card.


You should be aware that, whilst every endeavour will be made to ensure the successful transfer of your card to the new issuer, there is a risk that such action may not complete before the transaction date.


What does this mean for me?


If the United Kingdom and Gibraltar leave the European Union without a transition agreement being agreed on the 29thMarch 2019, and if Card Compact Limited have been unable to make alternate arrangements, you will no longer be able to use your Kingcard Prepaid Mastercard© from the 30thMarch 2019. Please be assured that Card Compact Limited is actively engaged in ensuring that either your current or a new replacement card, will be available to you by the 29thMarch 2019.


What if I still have money on my prepaid card?


If you have money on your prepaid card, you can continue to use your card in the normal way wherever you see the Mastercard©Acceptance Mark up to and including the 29thMarch 2019.


What happens after the 29thMarch 2019 if there is no transition agreement or extension to the exit period?


IF we are unable to transfer your card or issue you with a replacement in time, your Kingcard Prepaid Mastercard© will not be able to be used from the 30thMarch 2019. In such unlikely circumstances, rest assured that your money will continue to be safe. If you have any remaining funds on your prepaid card on the 30thMarch 2019, you can contact our Customer Services Team to arrange a refund to your bank account by emailing [email protected] or calling +44 20 36953242. You will not be charged for this transfer.


What if a transition deal is reached between the United Kingdom and the European Union?


If a transition deal is reached between the United Kingdom and the European Union before the 29thMarch 2019 which would allow for the smooth transition of services or an extension to the exit period, the access and use of your Kingcard Prepaid Mastercard© will continue as normal.  We will send you a further message advising you of this, and if any action would be required by you.


What should I do with the card?


On the 30thMarch 2019, and if we have not informed you otherwise, please cut your card through the magnetic stripe as well as the chip. Please remember to dispose of the plastic remains in a responsible manner.


We thank you for all your past business. It’s been a pleasure serving you.


Yours sincerely,


Card Compact Customer Service