What is a Unizest e-current account?

What is an e-current account compared to an online bank account?

An e-current account is an online current account that stores money in electronic form, known as e-money. E-money is a method of payment, like cash, rather than a deposit of money that is placed into a bank. E-current accounts can offer the same features and benefits as online bank accounts. A Unizest e-current account can be used in the same way as online bank accounts, with an app for management of your money and a Debit Mastercard for purchases, cash withdrawals and contactless payments.

Can I use a Unizest account the same as a UK online bank account?


  • Your Unizest e-current account can be used in the same way as online banking accounts.
  • Your Unizest Debit Mastercard can be used for purchases, cash withdrawals and contactless payments within the UK.
  • Once your card is activated and you have put funds into your account, you can use it anywhere that accepts Mastercard.
  • The card does not offer an overdraft facility.
  • There are no hidden charges, and you can view all charges on our Fees page.

Is Unizest a bank?

Unizest is not a bank. The Unizest Account is an electronic money product. Neofin Ventures Ltd, trading as Unizest (company no. 12632726), is an Electronic Money Directive (“EMD”) distributor on behalf of PayrNet Limited (company no. 09883437). The Unizest Debit Mastercard is issued by PayrNet Limited. PayrNet Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (reference no. 922901) for the issuing of electronic money.

The Unizest Account is not covered by the Financial Services Compensation Scheme, but is a product regulated by the Financial Conduct Authority. We ensure that any funds received by you are held in a segregated account so that in the unlikely event that PayrNet Limited becomes insolvent your funds will be protected against claims made by creditors.

What do I need to know before I open my account?

I would like to apply for a Unizest account - what do I need?

  • Download the Unizest app from the App Store or Google Play.
  • Have your photographic passport ID available. This will be scanned by the app and your identity confirmed.
  • If you need a visa to come to the UK, you will need to enter your Home Office share code
  • You don’t need a residence in the UK to open an account but you will need to confirm your UK address before your Debit Mastercard is issued to you.

To find out what you need to open an account see here

Is there a charge to open a Unizest account and how do I pay?

No fees are charged to open an account, there will be a £4.99 monthly management fee that will be charged to your Unizest account balance automatically.

What is included in my Unizest account?

You can do the following on your account:

  • View, save and print PDF statements
  • Pay bills
  • Transfer money to other accounts
  • Request another card if yours is lost or stolen
  • Access help & advice on living and working in the UK
  • Update your personal details
  • Freeze your card, report your card lost or stolen

How old do I need to be to open a Unizest account?

Right now, you can open an account if you’re 18 years old or over.

Do I need a UK phone number to open a Unizest account?

No, you can provide any valid phone number to open your account. If you later change your number, it is easy to update these details within the app.

If I have a bad credit history, can I still get a Unizest account?

Yes, you can get a Unizest e-current account and Debit Mastercard, regardless of your credit history. You can open a Unizest e-current account as long as you can pass our identity check via the app.

Do I need to sign an agreement?

When you open a Unizest e-current account the final step is to read the Terms and Conditions presented in the app, before accepting before agreeing to them. You can also view the Terms and Conditions here.

Do I need a share code to open a Unizest account?

If you need a visa to work or study in the UK, then we will need proof of your immigration status to open your Unizest account. To prove your status, you need to obtain your unique alphanumeric ‘share code’ from the UK Home Office website. If you are unable to get a share code using this service, you can scan your visa vignette within the app, however you will still need to provide us with your share code once you have access to it.

What is a share code?

Share codes are alpha-numerical codes used to confirm your right to work, rent or access benefits in the UK, or open a UK bank account. The UK government has an online service that provides migrants with a ‘share code’ so they can prove their immigration status and rights, privately and securely. You are able to use this service if you applied for a visa and used the ‘UK Immigration: ID Check’ app to scan your identity document on your phone.

How do I get my share code?

You can get your share code from the Home Office website. You can use this service if you applied for a visa and used the ‘UK Immigration: ID Check’ app to scan your identity document on your phone. You will be given access to view your immigration status in your own online account, where you are able to get your share code to prove your status to others. An individual share code consists of 9 letters and numbers, and is valid for 30 days. You can get as many as you need. Get your share code here: Home Office website

How does my account work?

How do I login to my account?

You can log into your account via the Unizest app and can use Face ID technology for a quick login.

Your login details are the username and password you used to open your account. Usernames are either your mobile number or email address.

How do I add money?

You can add money to your account from anywhere in the world. Tap the ‘Top Up’ icon in your App and your account details will be shown. Use or share these details when setting up a transfer of money into your Unizest account. Receiving money via bank transfer is free and for a reminder of Fees see here

Can I pay my utility bills using my account?

Yes, you can pay individual bills by transfer from your Unizest account to their account.
If your utility provider generates Direct Debits mandates, they will send you an instruction to complete which will link to your Unizest account number. For more information on Direct Debits see here https://www.directdebit.co.uk/faqs/setting-up-a-direct-debit/

Do I need to inform you of changes to my personal details?

Yes, please let us know as soon as possible if you change your name, address, telephone number, mobile number, or e-mail address.

You can do this by contacting Customer Service on help@unizest.co.uk or calling +44 207 205 2500. Evidence is required if the change is a name or address such as providing a marriage licence and proof of address changes.

How quickly are funds available in my account?

When receiving funds in the UK via Faster Payments, your money is usually available within seconds though sometimes this takes a little longer. When receiving funds via International Transfer (SWIFT), your money should be available within 24 hours. If you’re being paid via BACS, processing times are between 3-5 business days. Whatever way you receive funds, you’ll be sent a notification via the app once your money is ready to use.

How do I know when someone has put money into my account?

You will receive a notification via the app when someone has put money into your account. These alerts are instant, you will receive them as soon as funds are received and cleared.

How do I get cash out of my Unizest account?

You can withdraw cash from an ATM using your card and PIN. We will charge you 0.99p per withdrawal in Pounds in the UK and some ATM operators may add an extra fee for each withdrawal. You can also get cashback, free of charge, at most supermarkets.

Will I receive interest if my account is in credit?

No, you will not earn interest on your account balance.

How do I get a card?

How do I order my card?

You can order your Debit Mastercard straight away via the Unizest app, even before you arrive in the UK. To receive your card, you will need to provide a UK residential address where your card will be delivered. Your card will cost you nothing although you will need to add £10 into your account before your card will be issued to you.

When can I start using my card?

You can start using your card as soon as it has been activated via the App and funds have been put into your Unizest e-current account.

How do I activate my card?

You can activate your card easily via the app. Login to your account with your username and password. Swipe onto the card section of your app and tap the ‘activate’ button then enter your 16 digit card number.

How do I retrieve my PIN?

Once you have activated your card via the App, select ‘reveal PIN’ to get the PIN for your card.

Can I use my card abroad?

Yes, your card can be used worldwide – wherever you see the Mastercard acceptance mark.

What if I need to return an item I bought using my card?

The retailer will use the same return policy they have for any Debit Mastercard – this could be crediting your card, providing a cash refund or offering a store credit.

What if my card is lost or stolen?

If you lose your card or it is stolen, or you suspect that your PIN or password is known to an unauthorised person, you must login to your Unizest account and notify us immediately. Alternatively you can call our lost and stolen line on +44 (0) 207 205 2500. Your card will immediately be cancelled and we will arrange for a new card to be sent to you. There is a £5.00 charge for reissuing a card and PIN. If you subsequently find the card, please don’t use it – cut it in half through the signature box, magnetic strip and CHIP.

Where can I use my card?

You can use your Unizest Debit Mastercard wherever you see the Mastercard acceptance mark, including shops, restaurants, online and for telephone or TV shopping. You can withdraw cash at ATMs and request cashback at most supermarkets.

How long does it take to receive my card?

Once you have ordered your card in the app, it will take up to 2 weeks to arrive. You can order your card anytime before you arrive in the UK, provided you give a secure UK address where the card will be delivered.

Am I protected?

Is my money safe?

Your money is protected by Payrnet Limited. A Unizest e-current account is issued by Payrnet Limited and is protected by its EMI (e-money institute) license, meaning Payrnet is legally responsible for safeguarding your funds. In the event of failure by this institution, the FCA (Financial Conduct Authority) would step in to keep your money safe.

Is my account protected by the FSCS?

The Financial Services Compensation Scheme (FSCS) only protects deposits of money paid into a bank, building society or credit union. E-money is considered a method of payment rather than a deposit in a bank, and so e-money is not protected by the FSCS. However, your money is protected. A Unizest e-current account is issued by Payrnet Limited and is protected by its EMI (e-money institute) license, meaning Payrnet is legally responsible for safeguarding your funds. In the event of failure by this institution, the FCA (Financial Conduct Authority) would step in to keep your money safe.

Can I speak to someone?

How do I contact you?

The Customer Service team are available to assist you Monday to Friday 09:00 to 17:00 GMT and Saturday 09:00 to 13:00 GMT.
You can contact the team by email help@unizest.co.uk and via phone on +44 (0)207 205 2500*

*Calls are charged at standard UK local rates, however inclusive minutes on your telephone tariff can be used instead of paying a monetary charge. If you’re calling from outside the UK, please check with your network provider to confirm the call charges.