Odola Ltd is authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Firm Reference Number 1043609) for the issuing of electronic money. Odola Ltd is registered in England and Wales under company number 16180580. Its registered office is at 9th Floor, 107 Cheapside, London, United Kingdom, EC2V 6DN.
Important information for customers whose accounts are currently provided by PayrNet Limited
Odola Ltd is transitioning certain existing customers from PayrNet Limited to Odola Ltd. If your current account terms identify PayrNet Limited as your provider, PayrNet Limited continues to provide your e-money account and issue the associated Odola Visa card until the effective date specified in an individual migration notice sent to you, subject to completion of any steps described in that notice.
In relation to those accounts, Odola Ltd acts as a distributor of PayrNet Limited. Your migration notice will explain the effective date, the terms that will apply, what will change and any action you may need to take or rights available to you. This website notice does not itself change your contract or migrate your account.
PayrNet Limited is registered in England and Wales under company number 09883437. Its registered office is at 3rd Floor, Vintners’ Place, 68 Upper Thames Street, London, England, EC4V 3BJ. PayrNet Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Firm Reference Number 900594) for the issuing of electronic money and provision of payment services.
Odola Ltd and PayrNet Limited are electronic money institutions, not banks. The electronic money issuer identified in your current account terms is responsible for safeguarding the relevant customer funds in accordance with applicable law and FCA rules. E-money balances are not bank deposits and are not protected by the Financial Services Compensation Scheme. Safeguarding is different from FSCS protection: if an electronic money institution fails, repayment may be delayed and insolvency costs may be deducted.
Visa is a registered trademark of Visa International Service Association. The Odola Visa card currently provided to customers is issued by PayrNet Limited pursuant to a licence from Visa Europe Limited.
