LSE Wallet Terms and Conditions

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Terms and Conditions


Standard Terms of London School of Economics for the use of LSE Wallet


1 Contractual relationship |

2 Scope of services|

3 Obtaining a LSE Wallet|

4 Re-charging and topping up LSE Wallet|

5 Period of validity |

6 Payments|

7 Balance refunds|

8 Complaints|

9 Safety, loss and misuse|

10 Intellectual Property|

11 Data protection|

12 Liability|

13 General |


The London School of Economics and Political Scienceis a charity and incorporated in England and Wales as a company limited by guarantee under the Companies Acts (Reg. No. 70527) ("LSE") with its registered office at 10th Floor Tower One, Houghton Street, London, WC2A 2AE. Its VAT registration number is GB 629 5880 94.


The LSE Walletis an electronic payment system provided and distributed by LSE, which allows students of the LSE to set-up and manage a virtual pre-payment account on LSE's financial system.  The LSE Wallet can be used as a means of payment for services provided by participating departments within the LSE campus and Halls of Residence ("Departments"), including printing and photocopying.  For further information on the Departments, please refer to [LSE Website Hyperlink].


These standard terms of use and any other documents referred to herein (together the "Standard Terms") set out the nature of the relationship between the LSE ("Us"/"We"/"Our") and any applicant for or holder of the LSE Wallet ("You"/"Your").


November17, 2008


1 Contractual relationship

(1) By requesting a LSE Wallet, You are entering into a legally binding agreement with Us in relation to Your application for and Your use of the LSE Wallet.

(2) Our supply of the LSE Wallet to You, and Your use of the LSE Wallet will be governed by these Standard Terms at all times.

(3) To avoid any doubt, in providing the LSE Wallet, We are not carrying on the regulated activity of issuing electronic money (as defined under Article 9B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001), nor are We carrying on any other activity that is regulated by the Financial Services Authority.

(4) The LSE Wallet is a mechanism for payment operated by Us, and these Standard Terms will not apply to the actual purchase of any products or services.  The purchase of any products or services using a LSE Wallet will be the subject of a separate contractual relationship between You and the Department, and will therefore be governed by any applicable other terms and conditions.


2 Scope of services

(1) The LSE Wallet allows You to make cashless payments for products and/or services from Departments.  You may not use the LSE Wallet as a means of payment for products and/or services provided by any other persons.

(2) A full list of Departments which accept the LSE Wallet as a means of payment can be found by contacting| .

(3) We reserve the right to add to, amend or alter the Departments at any time, and when we do, such changes will be effective from such time as a revised list of the Departments is available by contacting|.


3 Opening a LSE Wallet

(1) You can apply for a LSE Wallet online at [LSE Website Hyperlink] (the "Website"). To apply for an LSE Wallet You must either be currently enrolled with LSE as a student or, must have accepted an offer from LSE for a course that will commence in the next academic year, and have been issued with valid LSE network log-in credentials. You will need to use Your valid LSE network log-in credentials to be able to access the application pages.

(2) When You have successfully completed Your application, You will be sent an automated email confirming Our receipt of Your application to Your LSE email account. This email will not be confirmation of Our acceptance of Your application.

(3) When You apply for an LSE Wallet You are entering a legally binding agreement with Us. Subject to Clause 3(5) below, once You have applied for Your LSE Wallet, You have a seven (7) working day cooling-off period, during which You can change Your mind and cancel Your LSE Wallet. You will also be notified of this right in the email confirmation referred to above.

(4) If You decide that You want to cancel Your LSE Wallet during this cooling-off period, You should inform Us in writing, either by post to LSE Wallet Queries, LSE Finance Division, Houghton Street, London WC2A 2AE, or by email to . We will then deactivate Your LSE Wallet.

(5) If You use Your LSE Wallet during the cooling-off period, by either topping it up or spending funds which have been debited on it, You will loose Your right to cancel this agreement under Clause 3(4).


4 Re-charging and topping up LSE Wallet


(1) To use Your LSE Wallet, You will need to make payments onto it.  These payments will then be held for You by Us in our LSE Wallet Holding Account until such time as You have used them to make payments to Departments for goods and/or services.

(2) When You are logged into the Website You will be able to review Your account balance and see how much money You have available on Your LSE Wallet. We recommend that You regularly top up Your LSE Wallet, and try to keep at least five pounds (£5.00) on it at all times, to make sure You have sufficient funds to pay for any services that You use.

(3) You may top up Your LSE Wallet by logging onto the Website.  To make a payment onto Your LSE Wallet, You will need a valid credit or debit card. 

(4) When You pay money onto Your LSE Wallet, You will be transferred from the Website to the website of Our payment processor, Worldpay.  You will need to provide Worldpay with Your credit or debit card details and billing address.  Worldpay will process Your payment in a secure way, and Your LSE Wallet balance will then be updated.  For the avoidance of doubt, Worldpay is not providing or administering the LSE Wallet, Worldpay is simply helping us by facilitating Your payment.

(5) You must comply with any terms and conditions imposed on You by Worldpay.  You can find out more information on Worldpay by visiting|.

(6) The minimum top-up amount is £5 per time.  The maximum amount that may be charged to the LSE Wallet at any one time is £100.

(7) LSE does not store any of your credit card information; Worldpay may keep details of Your payment for their records and/or to allow Us to make any refunds that are requested by You.


5 Period of validity

(1) Your LSE Wallet will remain valid until the earliest of either:-

(a) the end of Your enrolment at LSE; or

(b) Our records indicating that You have not used Your LSE Wallet for a period of one (1) year.

(the "Validity Period")

(2) At the end of the Validity Period or at any time thereafter, We will be entitled to close down Your LSE Wallet. If, when we close Your LSE Wallet, there are unspent funds in excess of ten pounds (£10) on the LSE Wallet, we will write to You at Your most recent address on Our records, and notify You of that fact.  You will then have a period of thirty (30) days from the date of such letter ("Grace Period") to either spend those sums or request a refund of the sums from Us.

(3) If You have not spent these sums or requested a refund by the end of the Grace Period, or if Your balance is less than ten pounds (£10) at the end of the Validity Period, We will be entitled to transfer any remaining balance to a LSE hardship fund of Our choosing because of the disproportionate administrative costs which would be incurred by Us in trying to locate You.



6 Payments

(1) When You make a purchase from a Department using Your LSE Wallet, You will need to do it by logging on to Your LSE Wallet via the Website.  The sums spent will simultaneously be deducted from the balance on Your LSE Wallet. 

(2) If there are insufficient funds available on the LSE Wallet to cover the amount of a transaction then the transaction will be declined by the Department.  You will need to top-up Your LSE Wallet with more funds if You want to complete the transaction.

(3) When Your transaction has completed, Your new balance will be shown on the Website.



7 Balance refunds

(1) Subject to the remainder of this Clause 7, You may request a refund of all or part of any unspent credit balance on the LSE    Wallet during the Validity Period or the Grace Period.  We will not issue any refunds after this.

(2) You may request a refund by contacting us in writing either by post to LSE Wallet Queries, LSE Finance Division, Houghton Street, London WC2A 2AE, or by email to, quoting Your LSE ID number, the amount of the refund that You are requesting and the reason for Your request.  You can only obtain refunds from Us and You cannot obtain refunds from the Departments directly. One of Our Systems Accountants will review Your request, and determine whether or not to approve Your request for a refund.  The granting of refunds is at Our sole discretion.

(3) Approved requests for refunds are processed within fourteen (14) days from the date of receipt of the request and will be made back to the original card payment used to top up the LSE Wallet.  No refunds are made via cash, cheque or bank transfer.  We will notify Worldpay of Your request for a refund, and they will process it using their records or Your previous transactions.  You agree to provide us with any information required by either Us or Worldpay to process a refund.  If You fail to do so, Your request for a refund will be automatically invalidated.

(4) Once the refund has been processed and authorised by Worldpay, You will receive a confirmation email from Worldpay.  If You have any further queries about Your refund after this stage, You must contact Worldpay directly.

(5) There are a number of transaction and processing charges which are involved in administering refunds; because of this We can only issue refunds for five pounds (£5) or more.


8 Complaints

(1) If You have any complaints relating to any purchases made from Departments, You must raise Your complaint with the relevant Department directly.  The value of any purchase made using a LSE Wallet will not be refunded by Us under any circumstances and any refund must be sought from the relevant Department(s).

(2) If You have any complaints relating to Your LSE Wallet, You should let us know in writing by post to LSE Wallet Queries, LSE Finance Division, Houghton Street, London WC2A 2AE, or by email to

(3) Any complaint concerning an incorrect amount being credited or debited to a LSE Wallet must be made by You to Us within six weeks of date on which such payment was processed.  You must provide us with full details of the Department and the amount of any disputed sums.

(4) When we receive a complaint from You, the matter will be referred to one of Our Systems Accountants.  They will decide whether or not Your complaint should be upheld, and will let You know of the reasons for their decision in writing.

(5) If You are dissatisfied with any decision made under Clause 8(4) above, You can appeal the decision.  You must set out full details of Your appeal in writing and send them to us in the manner specified in Clause 8(2) above.  Your appeal will be considered by Our Finance Director, and his/her decision will be communicated to You in writing.

(6) If You are dissatisfied with any decision made under Clause 8(5) above, You can appeal the decision for a final time. You must set out full details of Your appeal in writing and send them to us in the manner specified in Clause 8(2) above.  Your appeal will be considered by one of Our School Directors, and his/her decision will be communicated to You in writing.  Once this decision has been communicated to You, You shall have no further right of appeal, and Your complaint process shall be deemed exhausted.

(7) For the avoidance of doubt, You are not an eligible complainant for the purposes of the Financial Services Authority's rules in relation to dispute resolution.   Accordingly, You have no right to refer any complaint in relation to these Standard Terms to the Financial Ombudsman Service.

(8) The LSE Wallet is a LSE in-house developed and supported electronic money product. It is not covered by the Financial Services Compensation Scheme and no other compensation scheme exists to cover losses claimed in connection with the LSE Wallet.  This means that in the event that We become insolvent, a credit balance held on a LSE Wallet may become valueless and unusable and, as a result, You may lose any remaining credit on the LSE Wallet.


9 Safety, loss and misuse


(1) You must take every precaution to ensure Your LSE Wallet details are kept safe and not shared with others.

(2) If You loose Your LSE Wallet account details and/or network log-in details, You should let Us know in writing by post to LSE Wallet Queries, LSE Finance Division, Houghton Street, London WC2A 2AE, or by email to  Once we have received this notice, We will freeze the balance of Your LSE Wallet, until such time as You notify Us that You have been issued with new network credentials and wish to unfreeze Your LSE Wallet. We will not be liable for any money spent on Your LSE Wallet until You have contacted Us and told Us to freeze Your LSE Wallet.

(2) We are subject to anti-money laundering rules and regulations and may suspend Your use of the LSE Wallet where, in Our reasonable opinion, it is necessary to do so in order to comply with such rules and regulations.  We may request further information about You in order to allow us to approve Your application for a LSE Wallet, or authorise any payment which You have attempted to make on to Your LSE Wallet.


10 Intellectual Property

All copyright, trade marks and all other intellectual property rights in and in relation to the LSE Wallet shall, at all times, remain the property of Us or Our licensors.


11 Data protection

Any personal information which You may provide to Us in relation to a LSE Wallet will be used by Us in accordance with the privacy policy set out on the Data protection| page.


12 Liability

(1) For the purpose of these Standard Terms, We give no warranty and are not responsible in any way for the quality, safety, legality or any other aspect of any products and/or services purchased from any Department using a LSE Wallet.

(2) We do not exclude or limit liability for death or personal injury caused by its negligence, for fraud or fraudulent misrepresentation, or for any other liability which may not be excluded or limited by law.  Subject to this, in no event shall We be liable to You for any indirect or consequential losses incurred by You in any way.  Any liability that We have is restricted to foreseeable losses.

(3) We shall be under no liability for any failure to perform any of Our obligations under these Standard Terms if and to the extent that the failure is caused by act of God, governmental restriction, condition or control or by reason of any act done or not done pursuant to a trade dispute, shortages of labour or materials or breakdown of machinery or any other matter (whether or not similar to the foregoing) outside of Our control.


13 General

(1) You may not transfer or assign any or all of Your rights or obligations under these Standard Terms.

(2) If any provision of these Standard Terms is found to be unenforceable, all other provisions shall remain unaffected.

(3) These Standard Terms may not be varied except with Our express written consent.

(4) These Standard Terms and any document expressly referred to in them represent the entire agreement between Us and You in relation to their subject matter.  We are required by law to advise You that contracts may be concluded in English only and that no public filing requirements apply.

(5) These Standard Terms are governed by English law and both parties agree that any dispute between regarding them or the LSE Wallet will only be dealt with by the English courts.

(6) We reserve the right to change these Standard Terms from time to time by changing them on the Website.  A set of the current terms will be available on written request by post to LSE Wallet Queries, LSE Finance Division, Houghton Street, London WC2A 2AE, or by email to


18 November 2008