What is SourceCards?
SourceCards is a unique way of managing money that gives you control over your money; it helps you to budget and put aside enough to pay for your essentials, and it gives you freedom and flexibility to spend the rest of your money as you wish.
What are my login details?
You user name is the email address used to create the account. If you have forgotten your password, you can always ask to reset this when you first login.
How does it work?
SourceCards provides two types of account in one:
… is a payment account linked to a Contactless Visa Debit Card which gives you the flexibility on how you spend your money. As long as you have funds in your account, you can use it to buy whatever you need and withdraw money from an ATM.
…is a payment account designed to help you pay for Essentials. You put aside money in 5 separate accounts called ‘wallets’. Money can be paid directly (or transferred from your Flexi Account) into any of these wallets, which you then spend on these essentials:
- Other Essential Goods (such as a fridges, cookers, electrical equipment)
Your essentials wallets can only be spent in certain ways and on certain things, this will help you to know that money you have set aside in your budget for Essentials, like your rent and electricity will be there when you need it.
When do I get my Flexi and Essentials Visa SourceCards?
The moment your account has been approved and been set-up your Visa cards are automatically ordered. They are sent to you in the post to the address on your account and should arrive in 5 working days. If you have any questions then contact us.
How do I get replacement cards?
If you card has been lost or stolen then you need to get in touch with us via the helpdesk to order a new Visa card. We sometimes have to charge for replacement cards (the replacement fee is £5). If you card has expired, this will be replaced automatically if you account is still active.
How do I add money into my accounts?
Your accounts (and wallets in the Essentials account) all have individual account numbers and a sort code. This means that payment made by bank transfer can be made from any bank account using these references.
For example, if you are wanting your income (from your work or from the DWP) to be paid to your Flexi account you tell them the Account number and Sort Code and they will set up a regular payment into your Flexi account.
If friends or family are wanting to pay money into your accounts, again, you let them know the account number and sort code for the wallet you want them to pay into. They will be able to make a transfer using online banking or by paying money into a bank on the high street.
You can also pay money into your account as cash via Paypoint, but beware, this is a relatively expensive way to get money added to your accounts as the charges for using PayPoint are out of our control.
Finally, when you are logged into your SourceCards Account, you can pay money from your Flexi account to any of your Essentials accounts—you can even set up regular payments to these accounts. This is how we recommend you start to use your account to budget and manage your essential payments.
How can I spend money from my accounts?
SourceCards is new and different way to manage your money. Once you have money in your account there are a number of ways to use it. The SourceCards Flexi payment account is like a normal bank account with a VISA debit card attached to it. You can use this card like any other Debit card: you can pay online, in store, use contactless and take out cash at ATMs. You can also go online and use the SourceCards Flexi account to make one-off and regular payments (by setting up standing orders). Transfers can also be made from the Flexi account to your Essentials wallets .
The Essentials Account contains 5 separate essential wallets and is a little bit different from other bank accounts. We have set it up to help you manage your money by setting certain rules on how money in each of the wallets can be used.
For helping you plan and budget for buying food to keep you and your family healthy. This wallet also has a handy VISA Essentials Debit card; we have set it up to so that that you can use it in all the supermarkets (but not in restaurants). If you try to use it in other places where they take chip and pin it will be declined, not because you don’t have money, but because that’s how it’s designed to work.
To ensure you have enough money to travel to work, college or school or just day-to-day. This account is linked to ‘virtual’ Visa card; this means that you can only use it for online purchases and only with travel operators. You can use this through the travel operators online site to add tickets or top-up your travel card (e.g. Oyster or bus card) using the 16-digit Visa Account number attached to this wallet and stored in your SourceCards Essentials Travel wallet.
For helping make sure you put aside enough money to make your regular utility payments like gas, electricity, water etc. You can go online and use the online Utilities account to make regular payments (by setting up standing orders) to your utility providers.
Keep on top of your rent and Council Tax by putting aside enough money to cover the cost each month. You can go online and use your online Rent account to make regular payments (by setting up standing orders) to your housing provider.
Where you can save towards things like washing machines, electrical goods and other household items at great prices in the SourceCards online shop (which is not currently live). This account is a bit different as you can’t make payments from this account and there is no card so you can’t use the money in high street or online shops.
What is a Virtual Visa card?
A ‘virtual’ Visa card is special type of debit card that you can only use for online purchases (in with your Essentials Travel Virtual Visa, only with travel operators). You can use this through the travel operators online site to add tickets or top-up your travel card (e.g. Oyster or bus card) using the 16-digit Visa Account number attached to this wallet and stored in your SourceCards online account.
How can I move money between my accounts?
The SourceCards Flexi and Essentials account is a little bit different from other bank accounts. We have set it up to help you manage your money by setting certain rules on how they can be used. One of these rules is that you can make transfers from the Flexi account to any of the Essentials wallets, but not from Essentials wallets back to the Flexi account.
To transfer money from your Flexi, simply go to your Flexi account online and use the transfer and payments button, you can then chose which Essentials wallet from the menu. Fill in the amount and a helpful description and simply press the button to make the transfer. Its as easy as that.
With money in your Essentials wallets, how you access the money is a little different for each wallet. As rule, money that is put into an Essentials wallet can only be spent on what is was intended to be used for.
Why has my card been declined?
There could be a number of reasons why your card may be declined, most common of which is that there aren’t enough funds in your account to cover the spend. On the SourceCards platform we won’t let you make a payment that puts you overdrawn. This is how we make sure you won’t get charged for slipping into overdraft.
Also, because of the way the accounts are set-up, you may find that your Essentials Food card (blue one) gets declined in some places where you might think it should work. We have set the card up so it only works for buying things from certain shops—in the case of the Food card it it set up to be used in supermarkets and grocery stores only. Where the shop isn’t one of these, then the card will be declined. In this case, there is always the option to use your Flexi card as an alternative.
Why is my SourceCards Essential Food card restricted to certain supermarkets?
The Essentials account has been set-up to help you manage your money more effectively. We have structured the account to help manage your budget more carefully. If you choose to use your Food wallet to budget for a regular or weekly food shop, making it so that it can only be used in Supermarket and Grocery stores is a good way to give you peace of mind that you will always be able to put food on the table.
How do I see my entire transaction history?
The SourceCards system allows you to see the last 5 transactions on any of your accounts and will always show you the available balance in real-time.
Although the platform gives you a view of your transactions on each account or wallet, if you would like a statement please contact SourceCards.
How does SourceCards help me budget?
One of the challenges of managing money is understanding that when you have regular commitments and bills that come up, the balance that you see in your bank account isn’t always how much money you have ‘spare’. The SourceCards Flexi account is like a normal bank account, but the Essentials accounts allow you to move money into an account where you can only use it for what you have planned to spend it on. We have made it so that money can move in one direction only—from Flexi to the Food wallet for example, and not back again. This is so that you will get peace of mind that the money you have put aside for essential bills and things you need to buy is sitting safe in separate wallet. Everything else that you need to spend money that isn’t ‘essential’ can be bought using funds that remain in your Flexi account.
We recommend that you sit down regularly and look at your finances, to work out what is coming in and what is going out and make sure you make plans to meet your commitments. In some cases, your sponsor organisation will be able to help you with this if you find it a struggle.
How do I activate my Visa debit cards?
Once you have received your SourceCards Flexi and Essentials Visa debit cards, you will need to ‘activate’ them individually. To do this, call Customer Services on 0330 223 3667 and follow the recorded instructions. You will be required to enter your 16-digit long card number (on the front of the card) followed by your date of birth in the format DD/MM/YY. After successfully completing this stage, you will be sent a one time 8-digit password to the phone and number registered to your account at sign up. Enter the 8-digit password to obtain your 4 digit PIN and complete the activation process.
A separate call must be made to activate and find out the PIN on each card. Please ensure you have both your Flexi and Essentials Visa debit card to hand when you call in.
How do I find out my PIN number?
Once you have received your SourceCards Flexi and Essentials Visa debit cards, you will need to ‘activate’ them individually. To do this, call Customer Services on 0330 223 3667 and follow the recorded instructions.
You will be required to enter your 16-digit long card number (on the front of the card) followed by your date of birth in the format DD/MM/YY. After successfully completing this stage, you will be sent a one time 8-digit password to the phone number registered to your account at sign up. Enter the 8-digit password to receive your 4 digit PIN and complete the activation process.
A separate call must be made to activate and find out the PIN on each card. Please ensure you have both your Flexi and Essentials Visa debit card to hand when you call in.
If you have already activated your SourceCards Flexi and Essentials Visa debit cards but have forgotten you PIN for either of your two cards, you must follow the exact same process as if you were activating your cards and retrieving your PIN for the first time.
Can I withdraw money at a cashpoint?
You can withdraw money from your Flexi account at an ATM. Be careful, as much as we have tried to set them as low as possible, we still have to charge you to take money out of an ATM. We have set the account up to allow you to make up 4 withdrawals free of charge in a month to help out. Another way to keep cost down is to use your Flexi card to get cash-back in shops and stores where they offer this service.
Do I have to pay to use SourceCards?
The SourceCards Flexi and Essentials account is a little bit different from other bank accounts. We have set it up to help you manage your money and to give the opportunity to receive other benefits like cheaper goods and cash-back, for example.
There is a monthly charge for being a SourceCards account holder of £5 per month, as well an initial set-up cost of £5. There are also some other areas where additional fees are charged, but ones to look out for are:
- VISA ATM fees. The first 4 uses per month are free then they charge for each withdrawal, rejected request or balance enquiry
- Loading funds—Adding cash to your accounts using Paypoint
A full list of fees and charges is below. In some cases, sponsors will cover these costs for you as part of you being in a supported programme (ask your sponsor for more information about this)
What are the fees associated with my SourceCards?
|SourceCards Account Fees||Price||Regularity|
|SourceCards Set up Cost||£5||One-off|
|Monthly Account Fee||£5||Per month|
|Transaction Fees (Flexi card only)|
|UK Transactions via 3 days BACs / Standing Orders||£0||-|
|Contactless VISA debit card||£0||-|
|Receive Salary or other payments||£0||-|
|Transfers to Essentials Wallets||£0||-|
|Balance Checks (on site)||£0||-|
|ATM PIN change (UK only)||£0||-|
|In store cash back||£0||-|
|Account Help & Support||£0||-|
|4 Free (UK) ATM Withdrawals||£0||Per month|
|ATM Withdrawal Fees (UK)||£0.50||Per transaction|
|ATM Withdrawal Fee (Europe)||£1.00 + 1%||Per transaction|
|ATM Withdrawal Fee (International)||£1.50 + 1.5%||Per transaction|
|ATM Balance Enquiry||£0||Per transaction|
|Declined/Failed ATM Transaction Fee||£0.15||Per transaction|
|Paypoint Fee||£0.50 + 2.5%||Per transaction|
|Replacement Card||£5||(per card)|
|Card Cancellation & Redemption Fund||£3.00||(on account closure)|
|Card Load through debit card or refund||£0.50 + 1%||Per transaction|
How is the money charged to my account?
Monthly account fees and certain fees that arise from the transactions you make will be taken from your Flexi account. The monthly fee will be charged on the a certain day of the month. Other fees will be charged as they occur. In certain circumstances where your Sponsor is supporting you and picking up certain fees—the SourceCards team will credit your account on their behalf without you having to worry about it.
Who can see my account details/activity?
The SourceCards Flexi and Essentials account is a little bit different from other bank accounts. One of the main things that is different is that the only way to be able to become an account holder is to be invited to do so by a sponsoring organisation. In this way we can help make sure that people with SourceCards account are people that will truly benefit from having one. Part of being supported means that a sponsor can see a very limited amount of information on your finances. No-one but you will be able to spend your money, make any payments on your behalf or see details of your individual transactions.
How do I close my SourceCards account?
Your account can be closed by contacting the SourceCards helpdesk. There is a small fee of £3 for closing-down your account.
Who is SourceCards for?
A SourceCards account is a unique account that has only been made available to people who can benefit most, not only from the account and budgeting tools, but also from the discounts and cashback offered by the partners we work with. We also work with organisations who know people who need a helping hand every now and again—at the heart of the offer of SourceCards is to enable people to help themselves get their finances, and lives, back in control.
Who is behind SourceCards?
SourceCards is a Fintech company that was launched in 2015. The team are experienced and successful business people who have turned their expertise to building an enterprise with a social benefit at its heart. SourceCards has a close partner, Contis Financial Services Ltd, who are licensed by the Financial Conduct Authority, who safeguard your money and manage the banking-like activities for SourceCards. A major shareholder of SourceCards is a charitable foundation who will benefit from the success of the business and are able to deploy more charitable support to those who deserve it.
Is SourceCards a bank?
SourceCards is not a bank—it is a Fintech company that was launched in 2015. SourceCards has a close partner, Contis Financial Services Ltd, who are licensed by the Financial Conduct Authority (FCA). You will notice in the terms and agreements, you have agreed to, that Contis Financial Services Ltd are an approved e-money provider who are regulated by the FCA. So whilst not strictly a bank, they manage your money, issue Visa cards and make (and receive) payments to your accounts through the SourceCards platform.
How can I contact the SourceCards team?
There are a couple of ways to contact the SourceCards support team:
- By Telephone
- 0330 223 3667 (please note that calls are charged at your standard rate for local calls); or
- By Email
If your SourceCard is lost or stolen, please call the following number:
- Lost and Stolen Card Line
- 0330 223 3667 and follow the options.