Summary of key changes to your Elavon Terms of Services
Why are your Elavon Terms of Services changing?
|In line with European regulations namely Payment Services Directive (PSD2) and General Data Protection Regulation (GDPR), we have updated your Elavon Terms of Service (ToS) to incorporate these changes.|
When is this happening?
|Your new ToS is effective from 23 May 2018|
What are the main changes to Elavon ToS?
Here’s a summary of what’s changed.
Section 5 – Our Fees
This is amended to clarify the position that any changes in Card Scheme Fees or any other costs charged by the Card Schemes to Elavon will be automatically passed on to Customers that are on Interchange Plus Plus pricing and does not constitute an amendment to the Agreement. We will endeavour to provide two (2) months’ notice of any material change in Card Scheme Fees or Card Scheme Fines where reasonably practicable.
Elavon may make any changes to the Agreement at any time on two (2) months’ notice where a Customer is NOT on Interchange Plus Plus pricing then any changes in Card Scheme Fees and costs charged by the Card Schemes will constitute an amendment to the Agreement and will be dealt with in accordance with the Agreement.
Section 17 – Data ProtectionThis is amended in its entirety and now sets out the categories of personal data in relation to processing of Transactions, subject matter, duration of processing, and rules of processing to comply with the GDPR coming into force on 25th May 2018. The terms in relation to the processing of personal data that is not related to Transactions has now been removed from the TOS and inserted in the Privacy Notice section of the Application form.
Section 26 (b) - Termination by Elavon
The termination of your customer agreement with Elavon has been amended to two (2) months' notice instead of 60 days.
Section 26(g) (i) - Termination by Customer within the Initial Term
This is amended to clarify that where a Customer terminates the Agreement within the first six months of the Initial Term a termination fee shall become payable, the structure of which may change from time to time. Please note, where a Customer terminates the Agreement that has been in force for more than 6 months then termination of the Agreement is free of charge for the Customer, subject to any outstanding charges due.
Section 27(g) - Amendments
Elavon may make any changes to the Agreement at any time on two (2) months’ notice. This is amended to reflect the amendment process with regard to contractual changes to the Agreement only and removes reference to Interchange Plus Plus pricing changes which is now dealt with in Section 5 as per above.
Section 27(n) – Complaints
A new section “complaints” has been added in Section 27 (n) to regulate the customers’ procedure and comply with PSD2 requirements.
Our aim is to resolve your concerns and respond to you as soon as possible and no later than 15 business days of first receiving your complaint. If, for reasons beyond our control, we are unable to issue a final response to you within 15 business days we will write to you to keep you updated, clearly outlining the reason for our delay and we will set out the timeline by which you will receive a full written response.
In any event, the timeline for sending you a full written response will be no longer than 35 business days from our receipt of your initial complaint.
What do I need to do next?
You do not need to take any action and your ToS will be effective from 23 May 2018. Please download the ToS depending on your type of business.
(Sole Trader, or Partnership with 3 or less Partners)
(All other Customers)
Please note If you qualify as a Micro Enterprise or are a registered Charity with annual revenue of under £1 million you may object to the changes by notifying Elavon in writing before the effective date outlined above. If you choose to object we will have no choice but to terminate your account with us. Otherwise, you will be deemed to have agreed to the changes if you continue to present transactions to Elavon for processing at any time after the effective date.
Note that a Micro Enterprise is defined as an enterprise (entity engaging in economic activity regardless of form) which employs fewer than 10 persons and whose annual turnover and/or annual balance sheet total does not exceed £1 million.
If you do not accept any of these changes, you must contact us in accordance with section 27(f)(ii) of your TOS, in writing to: Elavon Financial Services DAC, PO Box 56, IDA Business Park, Arklow, Co. Wicklow, Ireland, or email email@example.com, before 23 May 2018.