Money Jar is Evolving.
There are some big changes happening at Money Jar! As part of our ongoing commitment to providing you with the best service possible, we’re moving your account to a new e-money provider . These changes will bring you greater stability with fewer payment delays, and less down time in the app.
Why is this happening?
We are changing to a new e-money provider because the current provider, PFS Card Services (Ireland), will be closing down its service, following a decision by its parent company EML. We are moving to a new provider, IPS Solutions Ltd, so we can grow and continue to build an even better service in the future.
Your Money is safe!
The continued security of your money is our top priority, and it is currently held safely in a Tier 1 bank account, and available as normal through the Money Jar app.
What’s Changing?
For now, your account will continue to operate as normal, but when your account is moved to our new e-Money provider, we will replace your existing prepaid card with a debit card and assign you a new IBAN (International Bank Account Number).
When Will You Receive Your New IBAN & Card?
We will send your new IBAN in an email ahead of time, allowing you to update any relevant payments from your employer or social services.
A new card will be delivered to your home address free of charge. As we will not have Apple Pay and Google Pay on day 1 of the move, we will send a new card to all customers, including those that don’t currently have a real card. We are working hard to get Apple Pay and Google Pay back as soon as possible, and will let you know when this happens.
What you need to know.
- Update Your Address by June 25, 2024: Make sure your home address is up to date in the Money Jar app, so your new card doesn’t get lost.
- Your New Card: We will send your new Mastercard® in the post at the start of July, 2024
- We will start to move accounts on week commencing, July 15, 2024: and we will let all customers know more nearer the time when this will happen.
- Update Regular Payments when you get your new IBAN: After you get your new IBAN, update anyone who makes regular payments to your account with your new IBAN, like your employer or social services.
- Update Card Payments when you get your new card: When you receive your new card, update any companies or services you make regular payments to with the new card details. These services may include your phone, internet, streaming services or any regular online payments.
- Alternative Direct Debit Payments: You will need to make alternative arrangements for any Direct Debit payments you have set up, as unfortunately this payment service won’t be available on your new account. Payments like standing orders or regular card payments from your account could be an option, but talk to your service providers to decide the best alternative.
We understand that change can sometimes be difficult, but please know that these updates are important to improve the Money Jar service . Thank you for your continued trust and support as we work to make your financial journey even better!
Please check the frequently asked questions below for further information.
Frequently Asked Questions.
Moving your account:
Q: Why are these changes happening?
A: We’re making these changes to improve your service by providing greater stability for your Money Jar account with fewer payment delays, and less down time in the app.
Q: Will my account remain secure during the move?
A: Yes, we take the security of your account information very seriously. Rest assured, all necessary measures are in place to ensure a smooth and secure move.
Q: How can I stay informed about these changes?
A: We will keep you updated through email notifications. If you have any questions or concerns, please reach out to our customer support team by email support@moneyjar.ie. We’re here to make sure the move goes smoothly.
Q: Moving to a new e-money provider – what does it mean to me?
A: Money Jar will replace your existing prepaid card with a new debit card, and you will also receive a new virtual IBAN (International Bank Account Number).
Q: When will my account be moved to the new provider?
A: We are working hard to move your account as quickly as possible. The process will happen in phases, starting in June 2024. We will let you know the exact date a week before so you can get ready.
Q: Will my account balance and transaction history be transferred to my new account?
A: Yes, your account balance and transaction history will be seamlessly transferred to your new account. You won’t lose any of your transactions, statements or data during the move.
Q: Can I still receive and send money while my account is being migrated?
A: There will be a period of downtime during the moving of your account, if you see any issues with your account during this time please contact customer support.
Q: What if I don’t want to move to the new provider?
A: If for any reason you don’t want to move with us, please close your Money Jar account by May 31st, 2024. If you choose not to close your account or contact our customer support team about closing your account, we will take it that you have no objection to Money Jar moving your account to our new e-Money provider. You can close your account by selecting the menu in the top right of the Money Jar app, select ‘Account Status’ from the main menu, then ‘Account status’ again at the bottom of the list and choose ‘Close account’.
Q: What will happen to my account if I don’t move it?
A: If you choose not move from the current provider PCSIL to our new e-Money provider IPS Solutions Ltd, your account will be put into spend only mode on the 17th July 2024. After this date you can use your card for spending and card payments, but you will not be able to access your account from the app or deposit money into your account. Finally, your card will be frozen from the 17th January, 2025, and any remaining funds in the account can be claimed back by contacting the official the liquidators, Interpath.
IBAN:
Q: What is an IBAN and why am I receiving a new one?
A: An IBAN (International Bank Account Number) is a unique identifier assigned to your bank account. You’re receiving a new virtual IBAN as part of our move to a new e-money provider. A Virtual IBAN will be assigned to your new account which can be used by you or others for making a SEPA Transfer of funds that will result in a credit of the relevant funds to your Account.
Q: When will I receive my new virtual IBAN?
A: We will start to move accounts on week commencing, July 8, 2024 and we will let all customers know the exact timeline nearer to that time.
Q: Where can I find my new virtual IBAN?
A: Before we move your account we will send your new virtual IBAN securely in an email. After your account has been moved you can find your new virtual IBAN on the side menu (top right on your app screen) inside “Account details”.
Q: Will my new IBAN be an Irish IBAN?
A: Yes, if you currently have an Irish IBAN you will receive a new Irish, Virtual IBAN.
Q: What happens if I don’t provide my employer with my new IBAN or a transfer is made to my old IBAN?
A: After we move your account to the new e-money provider, you won’t be able to send or receive money with your old IBAN. Any transactions made using the old IBAN after the move will fail to arrive in your account.
Cards:
Q: When will I receive my new card?
A: Around the time we move your account over we will replace your existing prepaid card with a new debit card for free. You will receive it in the mail at no cost to you, even if you don’t currently have a real card. If you’ve recently changed your home address, please update it in the Money Jar app by June 25, 2024, to make sure you get your card in time for the move.
Q: Can I continue using my existing card after the move?
A: No, once your account has been moved your old card will not work any more.
Q: I expect to move to a new address at the start of July 2024, how will I get my new card?
A: We will inform you when we send your new card in the post, and if you change your address during this time you should contact customer support.
Payments:
Q: Do you support Direct Debits?
A: Money Jar will stop supporting Direct Debits from 15th of May. You will need to make alternative arrangements for any Direct Debit payments you have set up, as unfortunately this payment service won’t be available on your new account.
Q: What should I do if I have pending Direct Debits during the move?
A: Unfortunately Direct Debits will no longer be available after we move your account, we hope to have them back in the future and will communicate this if the service returns. We recommend contacting any companies or services taking Direct Debit payments and telling them of the upcoming changes. You can also consider setting up alternative payment methods, such as a standing order or regular card payments, if they accept these alternative payment options.
Q: What should I do if I have pending standing orders during the move?
A: Standing orders will not be affected with the upcoming changes, as you control these payments from your account, and they will not be affected during the move.
Q: Payments with Google Pay and Apple Pay are not working.
A: Google Pay and Apple Pay will not be available on Day 1 of the move. We are working hard to have that service available again, and will let you know when we do. While we look forward to providing this service again, we will be sending all customers a real card in the post, free of charge to use for contactless payments.
Q: Can I still receive and send money while my account is being migrated?
A: There will be a period of downtime during the moving of your account, this will take place overnight so will likely not affect transaction to and from your account. If you see any issues with your account during this time please contact customer support.
T&C’s:
Q: Will there be any changes to the fees associated with my Money Jar account?
A: Yes, there are some changes to the fees associated with your Money Jar account. See new terms here
Q: Will there be changes to the limits be on my account?
A: Yes, there are some changes to the limits on your Money Jar account. See new limits here
Support:
Q: I received an email about getting a new account, is this a scam?
A: Money Jar sent you an email explaining the moving of your account with the subject “Important update: We are moving your account”. This email was sent to all our customers between the 20th/26th of March, 2024 explaining the changes to your account. You can expect more emails about the changes as we have more information for you.
Q: How can I get assistance if I have questions or concerns?
A: If you have additional questions or concerns not addressed here our friendly Customer Support team are here to help! You can reach them via in-app chat, email at support@moneyjar.ie, or by phone at +353 (0)12118569, Monday to Friday, from 8am to 7pm.
