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Risk Warning - Notice to UK Users  

Estimated reading time: 2 mins

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.

What are the key risks?

1.You could lose all the money you invest

The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.

The crypto asset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.

2.You should not expect to be protected if something goes wrong

The Financial Services Compensation Scheme (FSCS) doesn’t protect this type of investment because it’s not a ‘specified investment’ under the UK regulatory regime – in other words, this type of investment isn’t recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker here.

The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm. Learn more about FOS protection here.

3.You may not be able to sell your investment when you want to

There is no guarantee that investments in crypto assets can be easily sold at any given time. The ability to sell a crypto asset depends on various factors, including the supply and demand in the market at that time.

Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your crypto assets at the time you want.

4.Cryptoasset investments can be complex

Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment.

You should do your own research before investing. If something sounds too good to be true, itprobably is.

5.Don’t put all your eggs in one basket

Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.

A good rule of thumb is not to invest more than 10% of your money in high-risk investments. Learn more here.

If you are interested in learning more about how to protect yourself, visit the FCA’s website here.

For further information about cryptoassets, visit the FCA’s website here.

Why doesn't contactless work for my Tap card?

Contactless payments offer a convenient alternative to the traditional method of entering a PIN or providing a signature when making a card transaction. This technology is widely adopted in regions such as the UK, EEA, Canada, Australia and New Zealand, providing a secure means to facilitate small payments through advanced encryption techniques.

If contactless isn’t working with your Tap card, here are a few potential solutions:

🙋 First-Time Use:
If you have never used contactless on your card before, it's essential to initiate a transaction using the card at an ATM or by conducting a chip and PIN transaction once. This initial action is necessary to activate contactless functionality.

💰 Spending Limit Reached:
If you have already used contactless but find that it is no longer working, you may have reached your spending limit. To reset the contactless spending limit, perform a transaction with your card using a PIN operation.

💳 Card Activation:
If you have recently received your Tap card but haven't yet activated it, you must complete the activation process before making any payments, including contactless ones. To activate your card, visit the nearest store and initiate a payment using your PIN, or use a nearby ATM to perform any operation, which will activate the card for use.

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