How is the balance on my card protected?

Your One4all Gift Card is issued by GVS Prepaid (Europe) Limited*, an e-money institution authorised by the Central Bank of Ireland for the issuing of electronic money and the provision of payment services. It's important to understand that e-money institutions are not banks and, as such, the protection of your funds will differ from that of banks.

The funds on your card are classified as electronic money. For your protection, we are required at all times to hold money equal to the value of your card funds in a safeguarded bank account separate from our own funds. This is to ensure that we always have enough money available to cover your card spending and also to return your card funds to you should you decide to request a redemption of them. Redemption means when you request your card funds (which are e-money) are converted back into cash funds of equal value and transferred into your nominated bank account - see 'What does 'Redeeming my card funds' mean?' for more details. This safeguarded money is also protected from our creditors (which means anyone we owe money to) and so in the unlikely event that we became insolvent (went bust) you should receive a pay out equal to your remaining card funds.

Your card funds are NOT protected by the Irish Deposit Guarantee Scheme (DGS) which does not cover e-money.

* GVS Prepaid (Europe) Limited is a company incorporated in Ireland under company number 413979, having its registered office at One4all Unit 2, Swords Business Park, Swords, Dublin K67 PX82 Ireland and is regulated by the Central Bank of Ireland under the European Communities (Electronic Money) Regulations 2011, EC Registration Number C189313