Last updated: 12 September 2026
Social Wallet is a mobile application that lets you hold a balance, send and receive money with other Social Wallet users, top up from a debit or credit card, request an instant payout to your own card, and order a payment card linked to your balance. We are not a bank. Your balance is not a deposit account and is not covered by the Financial Services Compensation Scheme or any equivalent deposit protection scheme.
You must be at least 18 years old and able to form a binding contract in your country of residence. You're responsible for the accuracy of the information you give us, and for keeping your device and account secure (including any fingerprint/face unlock you enable).
Below a per-country lifetime top-up threshold, verifying your phone number is enough to use Social Wallet. Once your cumulative top-ups pass that threshold, we require full identity verification before you can add more funds, in line with anti-money-laundering rules that apply in your country (for example the UK Money Laundering Regulations 2017, the US Bank Secrecy Act, or the EU Anti-Money Laundering Directive, depending on where you're based). We may also require verification at any time if we reasonably suspect fraud or misuse.
Card payments, payouts, and card issuing are processed for us by a regulated payment institution. We don't store your full card number.
We can change fees going forward; we won't change the fee on a transaction you've already confirmed.
Your balance is held for you and is not lent out or invested by us. Cash Vaults (round-up savings) are your own money, moved from your spendable balance into a separate part of your account at your request (or automatically, only if you've turned round-up on) - you can move it back at any time, with no penalty.
A virtual or physical card ordered through Social Wallet draws on your Social Wallet balance. It is not a credit product - you can't spend more than your balance. Physical cards are mailed to the address you give us; you're responsible for keeping the physical card and its PIN secure.
We monitor for fraud and abuse (for example, an unusual number of accounts on one device, or a card payment flagged as fraudulent by our payment processor). We may restrict a specific payment method, pause a transaction, or ask for additional verification while we look into it. We'll never sell your balance or your data to cover someone else's fraud - restrictions exist to prevent it happening in the first place.
You can stop using Social Wallet and ask us to close your account at any time by contacting us. We may suspend or close an account that we reasonably believe is being used fraudulently, to launder money, or in breach of these terms. Where we can, any remaining balance is returned to you.
We don't hold our own e-money or payment institution licence. Money you add to Social Wallet is processed and held via our payment processor, a regulated institution, in an account structure kept separate from business extender LTD's own operating funds. Because we're not directly FCA-authorised for payment services, your balance is not protected by the Financial Services Compensation Scheme, and - unlike a directly FCA-regulated e-money provider - you don't have a statutory right to claim against an FCA-run compensation scheme if we became insolvent. In practice this means the protection your money has comes from our payment processor's own regulatory status, not from us directly.
If something's gone wrong, tell us first: ar@esms.uk. We'll acknowledge a formal complaint promptly and aim to give you a final answer within 8 weeks. If you're not happy with our response, or we haven't resolved it within 8 weeks, and you're a UK consumer or small business, you can ask the Financial Ombudsman Service to look at it independently, free of charge: financial-ombudsman.org.uk, Exchange Tower, London E14 9SR.
We're liable for losses caused by our own failure to follow these terms or by our negligence, but not for losses caused by you sharing your device or unlock credentials, or by circumstances outside our reasonable control. Nothing in these terms limits liability that can't be limited by law (for example, for fraud).
We may update these terms as the product changes. We'll show a notice in the app for material changes. Continuing to use Social Wallet after a change takes effect means you accept the update.
These terms are governed by the law of England and Wales. If you're a consumer living elsewhere, mandatory consumer-protection laws of your own country may also apply and take priority where they conflict with this clause.
Questions about these terms: ar@esms.uk or see our contact page.