AvantCard established an Irish subsidiary

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Important Legal Notice - No Action Required


We are sending you this letter to inform you about an upcoming change to your credit agreement with Avant Tarjeta EFC, trading as AvantCard (Avant Tarjeta).


Avant Tarjeta is authorised by Banco de España (the Central Bank of Spain) and is regulated by the Central Bank of Ireland for conduct of business rules. We recently established an Irish subsidiary, AvantCard Limited* and we are currently liaising with the Central Bank of Ireland for that company to obtain authorised status as a Payment Institution here in Ireland. Banco de España has confirmed it will continue to supervise Avant Tarjeta in the meantime.


The purpose of this letter is to provide you with notice of these developments. We anticipate that the authorisation and set-up process will be completed later in the year. Customers of AvantCard will continue to benefit from all existing consumer protection measures in Ireland and this approach will not change during this transitionary period.


Your credit agreement will be transferred to AvantCard Limited following its transition to a locally regulated Payment Institution and it will then be the provider of your credit card facilities. You will receive a further notice, together with an updated copy of your credit card terms and conditions, once the transfer to AvantCard Limited has occurred. Your current credit card terms and conditions will remain the same, other than the change from Avant Tarjeta to AvantCard Limited. You will also see a new regulatory disclosure appearing on communications with you once the authorised status as a Payment Institution is obtained. We do not expect customers to be affected by these changes and day to day business will continue as normal.


If you are not happy with this change you can notify us without charge that you are terminating your contract with us immediately and either:

• Pay off your balance in full and close your account or
• Make alternative arrangements with another credit card provider and transfer any outstanding balance.

In either case please contact us on the number below for assistance.


If you have Payment Protection Insurance on your card account, it is intended that this will also continue with no change, other than you will be dealing with AvantCard Limited rather than Avant Tarjeta in relation to your policy**. AvantCard Limited is also liaising with the Central Bank of Ireland to be registered as an Insurance Intermediary here in Ireland and if applicable to you, once authorisation has been obtained, an updated version of AvantCard Limited's terms of business as an Insurance Intermediary will also be sent to you.


As part of the transfer of your credit agreement, AvantCard Limited will become the data controller of your personal information for the purposes of data protection law. The purposes for which AvantCard Limited will use your personal data will not change. The consents and authorisations which you have previously provided to Avant Tarjeta will continue to apply and be relied on by AvantCard Limited. We will keep you informed, in accordance with data protection law, of any changes to our data protection policies and procedures which are necessary as a result of this transfer.


Under the new arrangements, all amounts due under your customer contract will continue to be payable. Please continue to make your payments in the usual way to AvantCard Ireland Limited, an associated company of AvantCard Limited.


If you have appointed a third party to act on your behalf in relation to your account with us, please ensure they receive a copy of this letter.


For more information go to www.avantcard.ie. Alternatively you can contact us on 0818 409 513 or +353 71 95 94040 from abroad, Monday to Friday 8am to 8pm and Saturday 8am to 2pm, excluding Bank Holidays.


Yours sincerely,
Matthew McGrath
Matthew McGrath
Director of Operations


Please read, important information about e-mail security:

1. So you can recognise a genuine e-mail when you receive one, we quote the last 4 digits of your AvantCard account number: xxxx
2. To ensure that you receive all e-mails about your card, add customerqueries@avantcard.ie to your e-mail address book or safe list.
3. If you have any general account queries about your account, please call us on 0818 409 511 Monday to Friday 8am - 8pm, Saturday 8am - 2pm, closed Sundays and bank holidays.

*AvantCard Limited's Head Office address will be Dublin Road, Carrick on Shannon, Co Leitrim and its company registration number is 541980
**AvantCard is tied to Sterling Life Limited and Sterling Insurance Company Limited for all Payment Protection Insurance offered

BuffyBot

I got this letter. It'll be interesting to see if they re-enter the market again as a result of this.

3DataModem

Weird. Twice this week two 30 euro credits hit my Boi account labelled "avantcard gb".


I have no idea why.

wmpdd3

refund of gov tax when you closed your avant card and opened a boi cc?