Summary Terms


This is a high-level summary of the Terms and Conditions of using the e-wallet service provided by Moneyfold Ltd. The full Terms and Conditions are available here: Full Terms . For our full Privacy Policy please check here: Privacy.

  • Moneyfold Ltd has been selected by the Financial Conduct Authority (FCA) in the UK to participate in their regulatory sandbox program:
  • The objective is to test live with client money “A distributed ledger technology based e-money platform which turns digital identity cards into secure digital wallets through the use of smart contracts and fiat-backed tokens.”
  • By using our service, you will be taking part in this regulatory test and you are bound by the Full Terms of Service.
  • To conduct this exercise, we have worked with the FCA to obtain registration as a Small E-Money Institution. You can check our status on the FCA’s register:
  • Your funds will be deposited and maintained in segregated client accounts at a qualified bank. The fund in this account is legally the property of the clients and not Moneyfold Ltd. In exchange, you will receive electronic Sterling-tokens on the Ethereum public blockchain. The Sterling-tokens operate on a full reserve basis.
  • You are allowed a maximum deposit of £500 per month for each of 2 months of testing.
  • Sterling-tokens and the funds in the segregated accounts are not covered by FSCS.
  • Your Sterling-tokens will be issued to a smart contract (“a robot”) and you will need to use your Estonian e-residency card to prove to the robot that you are the owner of those tokens.
  • You will be able to spend the tokens at several merchants in the UK.
  • The balance linked to your ID will be visible on the public Ethereum blockchain and we have no way removing, altering or hiding your Sterling-token balance. If you are concerned about this, please do not use the system.
  • When spending Sterling-tokens your transactions linked to your digital ID will be recorded on the public Ethereum blockchain and we have no way of removing, altering or hiding your transaction. If you are concerned about this, please do not use the system.
  • You will be able to convert any unspent tokens back to fiat money.
  • You will be able to move the Sterling-tokens from the robot’s custody to an Ethereum address controlled by you. In order to do so, please contact us to white-list your address. You will be able to send Sterling-tokens from your white-listed address to a merchant address in order to make a payment.
  • If your Estonian digital ID card is lost, stolen or otherwise compromised, immediately report this by calling +372 677 3377 as specified in the Terms and Conditions provided by the Republic of Estonia. Please refer to:
  • The test is limited to participants who are UK residents.
  • Any questions or issues, please contact us.