Frasers Plus is a credit product which enables you to spread the cost of your purchases into monthly instalments.

You'll now see Frasers Plus as a payment option during checkout when you buy from us online. So if you'd prefer to spread the cost of your purchases you can select Frasers Plus to apply for an account during checkout.

If you want to learn more about Frasers Plus see our How does Frasers Plus work? FAQs here or if you need any support from the Frasers Plus team, you can find more information here - Frasers Plus ( https://fgsupporthelp.zendesk.com/hc/en-gb )

Complaints about your Frasers Plus account

We are committed to providing you with the best experience possible but appreciate that sometimes things can go wrong. If you have a complaint about your Frasers Plus account, we recommend you firstly contact Frasers Group Financial Services who provide and manage your Frasers Plus account.

If you have a complaint about how your finance was introduced then please contact us directly and we will do everything we can to resolve the matter promptly. Contact details are below.

Please note: Any enquiries or complaints regarding purchases, including deliveries, should be directed to our customer services team. 

How to make a complaint about your Frasers Plus account?

What happens after I make a complaint?

• We take all complaints seriously and we will do everything we can to resolve them quickly.
• We will acknowledge your complaint promptly and keep you updated. In most cases, you’ll receive our final response within 8 weeks from receipt of your complaint. If we’re unable to resolve your complaint within 8 weeks, we’ll explain the reason why and tell you when we expect to be able to resolve it.

What if I am unhappy with your final response?

If you are not satisfied with the outcome of your complaint or you haven’t received a response within 8 weeks of us receiving your complaint, then you have the right to refer your complaint to the Financial Ombudsman Service who offer a free and independent review service. You can contact them by (1) post: Exchange Tower, London, E14 9SR, (2) telephone: 0800 023 4567, or (3) by sending an email to complaint.info@financial-ombudsman.org.uk. You'll need to contact them within 6 months of receiving our final response email. 

Frasers Plus, like Studio Pay, is a credit product that allows customers to spread the cost of their purchases. 

Both Studio Pay and Frasers Plus are offered by Frasers Group Financial Services Limited (FGFS) who are authorised and regulated by the Financial Conduct Authority (FCA) and are part of the Frasers Group plc.. You may be familiar with them as the company behind Sports Direct, Frasers, Flannels and Studio alongside many other well-known brands. 

As well as Frasers Plus being available at most Frasers Group owned brands, you can also checkout with Frasers Plus with our growing network of retail partners too. To see where you can shop see the Fraser Plus FAQ for Where can I use Frasers Plus?

How does Frasers Plus work?

With Frasers Plus you can shop both online and in participating stores by choosing Frasers Plus as your payment method. You’ll earn points with each purchase and you can spread the cost of your payments in multiple ways:

• Set your plan to 1 month and pay in full by your first payment date, interest free. 
• Pay in 3 for interest free. By choosing to pay in 3 monthly instalments.
• You can also spread the cost by choosing a 6, 12, 24 or 36 month instalment plan. Representative 29.9% APR variable.
• If you want to pay over a longer instalment plan period, you can replan a purchase with your Frasers Plus account at a later date. 

There’s never anything to pay at checkout. Your purchase will be added to your account and then you simply choose the instalment plan that suits your needs. You’ll always know upfront how much it will cost you, including any interest.

You’ll earn points with each purchase you make with Frasers Plus. Get 1 point for every £1 you spend. 500 points = £5 reward to spend at participating retailers. For further information on your points and rewards see our My Points and Rewards FAQs.

How does Frasers Plus compare?

As you can see in the table below, Frasers Plus has many of the same features and benefits as Studio Pay.

What are the main differences?

Although Frasers Plus has many similarities with Studio Pay, there are some differences to point out.

For any further queries

If you have any further queries, contact us about the switch at switch@studio.co.uk.

Will my Studio Pay account still switch to Frasers Plus?

Yes. We’ll no longer be offering our Studio Pay credit product and because of this we have made the decision to switch your Studio Pay account balance to your existing Frasers Plus account. Your account will be switched within two months of the opt out date that we’ve provided to you in an email. 

What do I need to do if I'm happy to switch to Frasers Plus?

You can manage whether you want to switch or not, please refer to the email or letter you received to find out how and when you need to do this by. If you’re happy to switch you don’t need to do anything and we’ll take care of everything for you. We’ll be in touch before your account is switched to Frasers Plus.

Please be aware that we reserve the right to postpone or cancel your switch if your circumstances change.

What will happen to my Studio Pay account balance?

If you have a Studio Pay account balance this will automatically be transferred to your existing Frasers Plus account. You’ll see the instalment plan, monthly instalment amount, and interest you’ll pay over the length of the plan in your Frasers Plus account.

You can replan your balance to a shorter instalment plan to reduce the interest you will pay. 

Your Frasers Plus annual percentage interest rate (APR) and credit limit will remain on your Frasers Plus account. Your Frasers Plus APR will be used to calculate any applicable interest on any existing balance before we switch your balance.

What if I don't want to switch?

That’s completely up to you. See our ‘Opting out of switching to Frasers Plus FAQs’ article here for more information.

After receiving your email to switch and logging in for the first time, you can see your account details by logging in at frasersplus.com or downloading the Frasers Plus app. 

If you want to learn more about Frasers Plus or need any support from the Frasers Plus team, you can find more information on their detailed Frasers Plus FAQs.

To keep things safe on our website and app, we'll sometimes send you an Email or a Text message asking you to enter a unique code before placing an order and giving you access to your account online.  We'll send a code to the email address or mobile phone number registered on your Studio Pay account.  This code only works for a short time, so please use the code as soon as you can.

I have not received my Verification Code

It can sometimes take a few minutes to receive your verification code.  If you have not received your verification code after a few minutes please use the Resend Code option.  Please do not use the resend option multiple times as there is a chance your login will be disabled.

The Verification Code has been sent to a phone number I cannot access

You will need to update the phone number registered on your Studio Pay account.  To do this, log in to your Studio Pay account here, click Personal Details and update Phone Number 1 to your new mobile phone number.  Please remember to scroll to the bottom and click Save Changes.  Return back to checkout and if you are still being asked to enter a verification code that has been sent to your old phone number, click cancel, log back in and a new verification code will be sent to your updated phone number.  

The Verification Code has been sent to an email address I cannot access

You will need to update the email address registered on your Studio Pay account to receive verification codes plus important updates about your Studio Pay Account.  To do this, log in to your Studio Pay account with the email address you have already registered here, click Personal Details and update Email Address to your new email address.  Please remember to scroll to the bottom and click Save Changes.  When you log back in to your Studio Pay account you will have the option to send your verification code to your updated email address. 

I did not request a Verification Code

If you've received a verification code and are concerned someone is trying to access your Studio Pay account, please get in touch with Studio Pay using the details found on the How Can I Contact Studio Pay FAQ.

If you are still unable to update your email address or your mobile phone number in your Studio Pay account, please get in touch with Studio Pay using the details found on the How Can I Contact Studio Pay FAQ. 

To do this, log in to your Studio Pay account here, click Personal Details and update Phone Number 1 to your new mobile phone number.  Please remember to scroll to the bottom and click Save Changes. If an error message appears, please click Save Changes again.  You should see your new phone number in Phone Number 1. When you return to checkout you will be prompted to enter a six digit code that has been sent to your new mobile phone number.

If you are still unable to update your mobile phone number in your account, please get in touch with Studio Pay using the details found on the How Can I Contact Studio Pay FAQ.

To check your phone number has been updated please log in to your Studio Pay account here, click Personal Details and check Phone Number 1. If the mobile phone number is incorrect, please change your phone number, scroll down and click Save Changes. If an error message appears, please click Save Changes again.

When returning to checkout, if you are still seeing your old number please cancel the prompt and enter your email and password again during checkout. This will trigger the code to be sent to your updated number.

If you are still unable to update your mobile phone number in your account, please get in touch with Studio Pay using the details found on the How Can I Contact Studio Pay FAQ.

Product not working?

It's never nice when something breaks down or isn't working as it should, particularly if the manufacturer's guarantee has run out too. There is time and hassle finding a local technician who can fix the fault, and then you have to pay for the emergency callout, plus what if your product can't be repaired?

Our Product Breakdown or Replacement Plan is designed to repair or replace your item if it is accidentally damaged or breaks down and fails to operate as intended by the manufacturer. Breakdown is covered outside of the manufacturers guarantee period.

What is a Product Breakdown or Replacement plan?

We offer this plan on some of the powered items (for example electrical appliances) you order from us. It works a little differently depending on the original price of your item.

• If you paid £200 or less for your item, the insurer will arrange an exact replacement or if it's not possible a product of the same kind and quality.
• If you paid more than £200 for your item the insurer will pay for the repair but don't worry it doesn't finish here; if it can't be repaired you will be given an exact replacement or if not possible a product of the same kind and quality.
• If no replacement can be found the insurer might decide to credit your account with the amount you paid for the item.
• The plans are individually priced and you can see plan price on the product details page, so whether you are ordering a washing machine or a tablet, we have a plan to cover you. To find out more details about the insurer, what your plan covers and how to make a claim, see- About Your Product Replacement or Breakdown Plan
• There are some circumstances where the product would not be covered, these include general wear and tear or theft/loss of item.

How can I get a plan?

If you are shopping online, we will tell you if cover is available on the product details page for the item you are ordering. Check you are happy with the price of the plan and the cover it offers before you select your preferred plan option. We will automatically add it to your account.

We will send you the cover details by email where possible or in the post. You should read these and keep them in a safe place. You can also read more about the plan in About Your Product Replacement or Breakdown Plan

How do I make a claim?

To make a claim, you need to call Castelan Limited on 0330 024 0367. Lines are open between 9am and 5:30pm Monday to Friday. Alternatively, you may send an email to productbreakdown@castelangroup.com or write to
Castelan, Customer Care, Alpha House, Sunnyside Road North, Weston-super-Mare, Somerset, BS23 3QY.

What else do I need to know?

If you have purchased this plan it will only cover the product that you bought it for and will only apply once the manufacturer's guarantee has expired. Your claim will be assessed by the insurer to check if it's covered within the plan you have bought.

About Your Product Replacement, Accidental Damage or Breakdown Plan

SECTION 1 - INTRODUCTION

Welcome to your Product Replacement, Accidental Damage or Breakdown Plan Policy Document.

This insurance is designed to repair or replace your product if it suffers:

1. Accidental Damage resulting in breakdown and/or fails to operate as intended by the manufacturer;
2. Breakdown resulting in the product failing to operate as intended by the manufacturer outside of the manufacturers guarantee period.

If your product has an original purchase price of £200.00 or less, we will (in the event of each valid claim):
- replace your product with an identical product, or if this is not possible, we will arrange for a credit to be applied to the account through which the original purchase was made

If your product has an original purchase price of more than £200.00, we may (in the event of each valid claim):
- choose to pay for the cost of repairing your product, or,
- replace your product with an identical product.
- arrange for a credit to be applied to the account through which the original purchase was made. However, we will only pay the purchase price of the product, or £1,500, whichever is lower in each individual claim.

The maximum we will pay under this policy in total for all repairs and replacements is an amount equal to twice the original purchase price of the product or £3,000, whichever is lower. If the product is replaced, or your account is credited, the plan will terminate. If required, you will need to buy a new plan for any new product

Please take time to read the Important Information in section 2 of this Policy Document. It tells you about things you need to check and the actions you need to take. It also contains details of which products you can insure.

This insurance was arranged by Studio Retail Trading Limited on behalf of Frasers Group Financial Services Limited whose contact details are: Frasers Group Financial Services Limited, Express House, Clayton Business Park, Accrington, Lancashire, BB5 5JY. Telephone 0371 376 5680.

The insurance is underwritten by Novus Underwriting Limited on behalf of Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG. Novus Underwriting Limited is an appointed representative of Direct Insurance Group Plc, which is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 306080). Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG. Registered Office: Aeulestrasse 60 (2. Stock) 9490 Vaduz, Liechtenstein is authorised and regulated by the Liechtenstein Financial Market Authority and is deemed authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority (Firm Reference No. 454140).

Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website at https://register.fca.org.uk/ or by calling them on 0800 111 6768.

The authorisation details of each firm can be checked on the Financial Services Register at https://register.fca.org.uk/ or by calling 0800 111 6768.

As the retailer ultimately acts as agent for the insurer under a delegated authority, monies paid to (or held by) the retailer in relation to the insurance contract are treated as having been paid to (or held by) the insurer.

Claims and administration are handled by Castelan Limited on ourbehalf. Castelan Limited is referred to as the administrator in this Policy Document. Their contact details are: Castelan Limited, Alpha House, Sunnyside Road North, Weston-super-Mare, North Somerset, BS23 3QY. Email productbreakdown@castelangroup.com. Tel. 0330 024 0367.

The start date of your insurance and period of cover is shown on your schedule of insurance.

Some words and phrases in this Policy Document and in your Policy Schedule will always have the same meaning wherever they appear. To make them easier to recognise when they are being used, they will be shown in bold. They are all listed and explained in the “Definitions” which can be found in section 10 of this Policy Document.

All insurance documents and all communications with you about this policy will be in English.

Please contact the administrator if you need any documents to be made available in braille and/or large print and/or in audio format. Their contact details are shown above.

How to Make a Claim

To make a claim, call the administrator on 0330 024 0367. Lines are open between 9.00am and 5.30pm Monday to Friday. Alternatively, please send an email to productbreakdown@castelangroup.com or write to Castelan, Customer Care, Alpha House, Sunnyside Road North, Weston-super-Mare, North Somerset, BS23 3QY.

The Insurance Contract

This Policy Document and your Policy Schedule are your insurance documents and together they make up the contract between you and us.

It is important that you read this Policy Document carefully along with your Policy Schedule so you can be sure of the cover provided and to check that it meets your needs.

This Policy Document and your Policy Schedule are issued to you by Castelan Limited in its capacity as our agent under contract reference B0554CLN2019. In exchange for your payment of the premium referenced in your Policy Schedule, you are insured in accordance with the terms & conditions contained in these documents (and any amendments made to them) for the duration of your policy.

Demands and Needs

This product meets the demands and needs of United Kingdom residents over 18 years of age who wish to protect their purchases against mechanical and/or electrical breakdown after the end of the original manufacturer’s warranty and/or guarantee and who wish to cover their purchase for accidental damage.

SECTION 2 - IMPORTANT INFORMATION

It is important that:

• You check your Policy Schedule to ensure the details are correct and that the cover is as you requested;
• You check that you are eligible for this insurance (see “Eligibility” below);
• You check the information you have given us is accurate (see “Disclosure of Important Information” below);
• You notify Frasers Group as soon as possible of any inaccuracies on your Policy Schedule, or if you are not eligible for the insurance; and
• You comply with any duties detailed under each section of the Policy Document and under the insurance as a whole.

Which Product Is Insured

Any product that you have purchased from Studio Retail’s websites and which is specified on the Policy Schedule. The product must be a domestic product that was originally designed for domestic use.

Information You Give Us

Eligibility

The eligibility requirements are as follows:

• You must be aged 18 or over at the time of purchasing this insurance.
• You must be a permanent resident in the United Kingdom, the Channel Islands or the Isle of Man.

We will not provide any cover if you do not meet these eligibility requirements at the start date of your policy. Please contact the administrator as soon as possible if you are not eligible for this insurance, if a change in circumstances means that you no longer meet these eligibility requirements or if you have any queries. Their contact details are in section 1 of this Policy Document.

Disclosure of Important Information

In deciding to accept this insurance and in setting the terms and premium, we have relied on the information you have given us via Frasers Group. You must take reasonable care to provide complete and accurate answers to the questions we ask when you take out or make changes to your policy. If the information provided by you is not complete and accurate:

• we may cancel your policy and refuse to pay any claim, or
• we may not pay any claim in full, or
• we may revise the premium, or
• the extent of the cover may be affected.

If you become aware that any information you have given is incomplete or inaccurate, please contact the administrator as soon as possible. Their contact details are shown in section 1 of this Policy Document.

When cover ends

Cover will end automatically on whichever of the following happens first:

• The date your product is replaced;
• The date you cancel your plan;
• The date your plan expires;
• The cost of repairs or replacement exceed twice the purchase price.

SECTION 3 - WHAT IS COVERED

Breakdown:

• We will repair or replace your product when it breaks down and/or fails to operate as intended by the manufacturer outside of the manufacturer’s guarantee period.
• The breakdown must be entirely due to a sudden and unforeseen defect causing the actual breaking of a part.

Accidental Damage:

• We will repair or replace your product if it fails or operate as intended by the manufacturer due to an accidental event
• The accidental damage must be entirely due to a sudden and unforeseen event.

This plan only applies to domestic products and that were originally designed for domestic use.

Repair to the product will be undertaken when the product is in the UK. It is important that you understand:

In the event of each valid claim:

If your product has an original purchase price of £200 or less, we will provide an identical replacement, or we will arrange for a credit to be applied to the account through which the original purchase was made. If your product has an original purchase price over £200, then we will pay the cost of repairing your product. If we are unable to repair your product then we will provide you with an identical replacement or we will arrange for a credit to be applied to the account through which the original purchase was made.

The maximum we will pay under this policy in total for all repairs and replacements is an amount equal to twice the original purchase price of the product or £3,000, whichever is lower.

SECTION 4 - WHAT IS NOT COVERED

We will not pay for any claim:

• caused by you deliberately damaging or neglecting your product;
• for electrical or mechanical breakdown for which the manufacturer, supplier or any other person may be held responsible under the terms of any guarantee or warranty;
• caused by you not following the manufacturer’s instructions or use of accessories not approved by the manufacturer;
• for the replacement of or adjustment to consumable items including but not limited to discs, records, tapes, styli, cartridges, software, aerials or aerial sockets, air or water filters, light bulbs, plugs, fuses, batteries, disposable bags, belts, brushes or tools;
• caused by routine servicing, inspection, maintenance or cleaning;
• caused by an inherent manufacturing defect or a product recall;
• resulting from repairs carried out by a repairer not authorised by us;
• resulting from wear and tear or the gradual deterioration of performance;
• for cosmetic damage, scratching, denting or marking of your product which affects the appearance of your product but does not affect its performance or functionality in any way;
• caused by permanent or temporary interruption of electricity or water supplies;
• due to transportation or installation;
• due to over-icing of cooling products;
• due to tuning or aerial faults or the incorrect setting of automatic controls or thermostats;
• due to fire, flood, lightning, storm, tempest, explosion, impact, aircraft or other aerial device or article dropped from, theft or attempted theft, or any other external cause;
• if no fault is found or a part is not burnt out or broken;
• if you have failed to carry out general or regular maintenance as required or recommended by the manufacturer;
• repairs to the product whilst it is outside of the UK;
• for any loss suffered as a result of not being able to use the product or any loss over and above the purchase price of the product.
• due to war or acts of terrorism or you engaging in active war.
• due to nuclear risks.
• due to damage resulting from pressure waves caused by aircraft or other aerial devices travelling at sonic or supersonic speeds.
• for any loss, damage, liability, cost or expense caused by malicious or non-malicious use of any application, process, software, code or programme, including computer virus (or any computer related hoax).

SECTION 5 - GENERAL CONDITIONS

• We will only provide cover for your product if you agree to take all reasonable steps to protect your product to prevent breakdown and accidental damage or minimise the effects of a breakdown once it has occurred.
• All claims must be made within 30 days of discovery of the incident. Failure to do so may delay your claim.
• If you change your address, please contact Frasers Group Financial Services Limited on 0371 376 5680 with the new details.
• If the product is replaced following a claim the plan will terminate. If the replacement product is to be covered, you will need to buy a new plan.

SECTION 6 - MAKING A CLAIM

Who to Contact

To make a claim, call the administrator on 0330 024 0367. Lines are open between 9am and 5:30pm Monday to Friday. Alternatively, please send an email to productbreakdown@castelangroup.com or write to Castelan Limited, Customer Care Team, Alpha House, Sunnyside Road North, Westonsuper-Mare, North Somerset, BS23 3QY

Calls may be recorded for training, compliance and fraud prevention purposes.

Things You Must Do

You must comply with the following conditions. If you fail to do so and this affects the ability of the claims administrator to fully assess your claim or keep our losses to a minimum, we may not pay your claim or any payment could be reduced.

• All claims must be reported to the administrator as soon as possible but in any event, within 30 days of you becoming aware of an incident. You must complete a claim form (in full) and provide at your own expense, any information and assistance which the claims administrator may require in establishing the amount of any payment under your insurance.
• You must make the product available for inspection and repair.

Manufacturer’s Guarantee If your product has been delivered with a fault, or has developed a fault within 12 months from the delivery date, please contact Studio Retail Trading Limited; details on how to get in touch can be found on their help pages- help.studio.co.uk

SECTION 7 - CANCELLATION OF THE POLICY

Your Cancellation Rights

You can cancel your policy within 30 days of the policy start date or, if later, 30 days of the date you receive this Policy Document. We will refund any premiums you have paid as long as you have not made a claim and do not intend to make a claim.

You can also cancel your policy at any other time by writing to:

Frasers Group Financial Services Limited, Express House, Clayton Business Park, Accrington, Lancashire, BB5 5JY or please call 0371 376 5680 or via the web: support.studio.co.uk/s/contact-us

You may be entitled to a pro-rata refund for each complete unexpired months cover, calculated at the date the cancellation request is received provided that you have not made a claim. This means that a refund will only be provided for every complete month of the plan remaining from the date you request the plan is cancelled.

Example 1: if you have a two year plan and request that your plan is cancelled anytime during the seventh month, you will be entitled to a refund for the remaining full 17 months. This will be calculated as 17/24th of the premium you have paid as follows: if the premium taken for a plan is £26.00, the refund would be £26.00/24 x 17 = £18.41.

Example 2: if you have a three year plan and request that your plan is cancelled anytime during the seventh month, you will be entitled to a refund for the remaining full 29 months. This will be calculated as 29/36th of the premium you have paid as follows: if the premium taken for a plan is £26.00, the refund would be £26.00/36 x 29 = £20.94

The Insurers’ Cancellation Rights

We reserve the right to cancel this policy immediately if you commit fraud. If we cancel your policy, we will do so in writing to the most recent address we have for you. We cannot cancel this insurance for any other reason.

SECTION 8 - HOW TO MAKE A COMPLAINT

Our aim is to provide you with a high quality service at all times, although we do appreciate that there may be instances where you feel it is necessary to lodge a complaint.

If your complaint is about the sale of your policy, please direct it to:
Frasers Group Financial Services Limited, Express House, Clayton Business Park, Accrington, Lancashire, BB5 5JY Tel: 0371 376 5680 or email using our help pages: support.studio.co.uk/s/contact-us

If you have a complaint about how your claim has been handled, or how your policy has been administered, please contact the administrator by email at customercare@castelangroup.com or by telephone on 0333 015 1182, or by writing to Castelan Ltd, Customer Care Manager, Alpha House, Sunnyside Road North, Weston-super-Mare, North Somerset BS23 3QY.

In some cases the administrator may refer your complaint to Novus Underwriting Limited. You can contact Novus Underwriting Limited by email at complaints@novusunderwriting.com or by writing to 4th Floor, 34 Lime Street, London EX3M 7AT.

If you are not happy with the outcome of your complaint you have the right to refer your complaint to the Financial Ombudsman Service. You can contact the Financial Ombudsman Service by writing to The Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London E14 9SR or by telephone on 0300 123 9 123 or by visiting www.financial-ombudsman.org.uk.

The above complaints procedure is in addition to your statutory rights as a consumer. For further information about your statutory rights contact your local authority Trading Standards Service or Citizens Advice Bureau.

If you live in the United Kingdom or the Isle of Man, the contact information is:

Financial Ombudsman Service, Exchange Tower, London, E14 9SR
Tel: 0800 0234 567 (calls to this number are free on mobile phones and landlines).
Tel: 0300 1239 123 (calls to this number cost no more than calls to 01 and 02 numbers).
Email: complaint.info@financial-ombudsman.org.uk
Website: www.financial-ombudsman.org.uk

If you live in the Channel Islands, the contact information is:

Channel Islands Financial Ombudsman, PO Box 114, Jersey, Channel Islands, JE4 9QG
Jersey +44 (0)1534 748610
Guernsey +44 (0)1481 722218
International +44 1534 748610
Facsimile +44 1534 747629
Email: enquiries@ci-fo.org
Web: www.ci-fo.org

SECTION 9 - LEGAL, REGULATORY & OTHER INFORMATION

Other Insurance

If, at the time of a valid claim under this policy, there is another insurance policy in force which covers you for the same loss or expense, we may seek a recovery of some or all of our costs from the other insurer. You must give us any help or information we may need to assist us with our loss recoveries.

You may be asked to provide details of any other contract, guarantee, warranty or insurance which may apply to the product including, but not restricted to, household insurance.

Fraudulent Claims or Misleading Information

We take a robust approach to fraud prevention in order to keep premium rates down so that you do not have to pay for other people’s dishonesty. If any claim made by you or anyone acting on your behalf under this insurance is fraudulent, deliberately exaggerated or intended to mislead, we may:

• not pay your claim; and
• recover (from you) any payments we have already made in respect of that claim; and
• terminate your insurance from the time of the fraudulent act; and
• inform the police of the fraudulent act.

If your insurance is terminated from the time of the fraudulent act, we will not pay any claim for any incident which happens after that time and may not return any of the insurance premium(s) already paid.

Financial Services Compensation Scheme

We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we are unable to meet our obligation to you under this contract. Further information can be obtained from the Financial Services Compensation Scheme, 10th Floor, Beaufort House, 15 St. Botolph Street, London, EC3A 7QU. Tel: 0800 678 1100 (Freephone) or 020 7741 4100. Website: www.fscs.org.uk

Data Protection Notice

We and the administrator are the data controllers (as defined by the General Data Protection Regulations) for the data you provide to us. We need to use your data in order to arrange your policy and associated products. We may collect personal information about you, including: • name, address, contact details • financial information such as bank details • details of any claim We may also collect sensitive personal information about your health where we consider a change to our procedures will likely provide you with a better customer outcome. This will only be collected with your consent. You are obliged to provide information without which we will be unable to provide a service to you. Any personal information provided by you may be held by us in relation to your policy. It may be used by our relevant staff in making a decision concerning your policy and for the purpose of servicing your policy. It may be held by the administrator for administering claims. Information may be passed to loss adjusters, solicitors, reinsurers or other service providers for these purposes. We may obtain information about you from credit reference agencies, fraud prevention agencies and others to check your credit status and identity. The agencies will record our enquiries, which may be seen by other companies who make their own credit enquiries. If you provide false or inaccurate information and we suspect fraud, we will record this.

We and other organisations may use these records to:
- help make decisions on insurance proposals and insurance claims, for you and members of your household;
- trace debtors, recover debt, prevent fraud, and manage your insurance policies; and/or
- check your identity to prevent money laundering, unless you furnish us with satisfactory proof of identity.

We and the administrator process all data in the UK but, where we need to disclose data to parties outside the UK, we and the administrator will take reasonable steps to ensure the privacy of your data during such transfers. In the event that your data needs to be transferred back to us and the administrator from the EU, then EU laws on data transfers will apply.

In order to protect our legal position, we will retain your data for a minimum of 7 years. We have a Data Protection regime in place to oversee the effective and secure processing of your data. Under Data Protection legislation, you can ask us for a copy of the data we hold, have it corrected, sent to a third party or deleted (subject to our need to hold data for legal reasons). We will not make your personal details available to any companies to use for their own marketing purposes.

If you wish to complain about how we have handled your data, you can contact us and we will investigate the matter. If you are not satisfied with our response or believe we are processing your data incorrectly, you can complain to the Information Commissioner’s Office by writing to Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF or by telephone on 0303 123 1113.

For more information about how the administrator uses your data, please see the administrator’s privacy notice at www.castelangroup.com/privacy-notice

Rights of Third Parties

A person who is not a party to this policy has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this policy but this does not affect any right or remedy of a third party which exists or is available apart from that Act.

For your information, the Contracts (Rights of Third Parties) Act 1999 allows a person who is not a party to a contract to be able to enforce that contract if the contract expressly allows him/her to or if the contract confers a benefit upon him/ her. However the Act will not be applied if the parties make it clear in the contract that the third party does not have the right to enforce it. For further guidance please see www.legislation.gov.uk or contact the Citizens Advice Bureau.

Law and Jurisdiction

This policy shall be governed by the laws of England and Wales and subject to the non-exclusive jurisdiction of the courts of England.

Sanctions

We shall not provide any benefit under this contract of insurance to the extent of providing cover, payment of any claim or the provision of any benefit where doing so would breach any sanction, prohibition or restriction imposed by law or regulation.

Several Liability

The subscribing insurers’ obligations under contracts of insurance to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing insurers are not responsible for the subscription of any co-subscribing insurer who for any reason does not satisfy all or part of its obligations.

The Insurer

This insurance is underwritten Novus Underwriting Limited who are registered in England and Wales under Company No. 10844265, with its registered office address at Cumberland House, 129 High Street, Billericay, Essex, CM12 9AH, on behalf of Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG. Registered Office: Aeulestrasse 60 (2. Stock) 9490 Vaduz, Liechtenstein.

Regulatory Details

Novus Underwriting Limited is an appointed representative of Direct Insurance Group Plc, which is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 306080). Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG is regulated by the Liechtenstein Financial Market Authority and is deemed authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Firm Reference: No. 454140

Frasers Group Financial Services Limited is authorised and regulated by the Financial Conduct Authority. Firm Reference: 311908.

The administrator is authorised and regulated by the Financial Conduct Authority. Firm Reference: 572287

SECTION 10 - DEFINITIONS

In this document the following words and phrases are in bold and have the meanings shown after them:
“Administrator” –Castelan Limited, Alpha House, Sunnyside Road North, Weston-super-Mare, North Somerset, BS23 3QY
“Frasers Group” – Frasers Group Financial Services Limited, the Insurance intermediary
“Studio Retail” - Studio Retail Trading Limited, the Appointed Representative of Frasers Group Financial Services Limited.
“Nuclear risks” - Ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel or radioactive toxic explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.
“Product/s” - the item/s you have purchased from Studio Retail’s websites that are covered under this plan.
“Purchase Price” - the amount you originally paid for the product.
“Terrorism” - An act including, but not limited to, the use or threat of force and/or violence of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes or reasons including the intention to influence any government and/or to put the public, or any section of the public, in fear.
“UK”- England, Scotland, Wales, Northern Ireland, the Channel Islands and the Isle of Man.
“War”- means:
(a) War, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion assuming the proportions of, or amounting to, an uprising, military or usurped power; or
(b)Any act of terrorism; or
(c) Any act of war or terrorism involving the use of, or release of, a threat to use any nuclear weapon or device or chemical or biological agent.
“We, Us, Our” - Novus Underwriting Limited on behalf of Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG.
“You/your” - The individual specified on the Policy Schedule who owns the insured items, has applied for this insurance and has paid the appropriate premium.

Product Replacement, Accidental Damage or Breakdown insurance is arranged by Studio Retail Trading Limited on behalf of Frasers Group Financial Services Limited whose contact details are: Frasers Group Financial Services Limited, Express House, Clayton Business Park, Accrington, Lancashire, BB5 5JY. Telephone 0371 376 5680 and underwritten by Novus Underwriting Limited on behalf of Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG.

WHAT COVER IS PROVIDED?

Accidental damage: Cover is provided from the start date of your insurance and period of cover is shown on your schedule of insurance. Breakdown: Cover is provided after the manufacturer’s warranty has expired and lasts for either one or two years after the expiry of the manufactures guarantee.

The maximum we will pay under this policy in total for all repairs and replacements is an amount equal to twice the original purchase price of the product or £3,000, whichever is lower. If the product is replaced, or your account is credited, the plan will terminate. If required, you will need to buy a new plan for any new product

NOTE:

• This insurance will end if the item is replaced, an alternative settlement is given or the expiry date is reached.
• This insurance is available to buy online at the time you purchase your domestic electrical item.
• The manufacturer, other retailers and insurance providers may also offer you an extended warranty and your household insurance may be relevant.

Terms, conditions and exclusions apply to this insurance which limit your cover and we do not wish you to discover after an incident has occurred that you are not insured. If you have any queries, please contact Frasers Group Financial Services Limited on 0371 376 5680 or via the web support.studio.co.uk/s/contact-us

CANCELLATIONS

You can cancel your policy within 30 days of the policy start date or, if later, 30 days of the date you receive this Policy Document. We will refund any premiums you have paid as long as you have not made a claim and do not intend to make a claim.

You can also cancel your policy at any other time by writing to Frasers Group Financial Services Limited, Express House, Clayton Business Park, Accrington, Lancashire, BB5 5JY or please call 0371 376 5680 or via the web support.studio.co.uk/s/contact-us

You may be entitled to a pro-rata refund for each complete unexpired months cover, calculated at the date the cancellation request is received provided that you have not made a claim. This means that a refund will only be provided for every complete month of the plan remaining from the date you request the plan is cancelled.

CONSUMER RIGHTS

Product Replacement, Accidental Damage or Breakdown Plan can be purchased when goods are ordered. The prices shown are the total amount payable including Insurance Premium Tax. The benefits offered are in addition to your legal rights under the Consumer Rights Act 2015. Under this Act, if the product you purchase is subsequently found to be defective then you will be entitled to a remedy such as a repair, a replacement or a refund. This legal right lasts for up to 6 years (5 years in Scotland). If the product proves defective in the first 30 days after purchase then you may reject the goods and request a full refund. Thereafter, you will be entitled to a repair or replacement but if those remedies are not possible then you can claim a full, or partial, refund depending on the age of the goods. Further information on your rights can be obtained from the Citizens Advice Consumer Helpline 03454 040506. 

FINANCIAL SERVICES COMPENSATION SCHEME 

Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG is covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if Helvetia Schweizerische Versicherungsgesellschaft in Liechtenstein AG cannot meet its obligations. This depends on the type of business and the circumstances of the claim. Most insurance contracts are covered for 90% of the claim with no upper limit. You can get more information about compensation scheme arrangements from the FSCS by visiting fscs.org.uk. You may also contact the FSCS on their Freephone number 0800 678 1100 or 020 7741 4100 or you can write to Financial Services Compensation Scheme PO Box 300, Mitcheldean, GL17 1DY

Updated: October 2024

Credit Agreement regulated by the Consumer Credit Act 1974

Parties to the agreement

This agreement is between us, Frasers Group Financial Services Limited, Express House, Clayton Business Park, Clayton-le-Moors, Accrington, Lancs BB5 5JY and you.

Useful definitions

Studio Pay Credit Account a type of personal credit account where you can order and receive goods and services from Studio and certain Frasers Group brands (and any other selected retailers we will tell you about from time to time) and pay for them later. Your Studio Pay Credit Account has a credit limit and you must pay a monthly minimum amount when you have an unpaid balance. We charge interest on the unpaid balance. From time to time, we may offer you a Credit Option. This is a different way of paying for purchases on your Studio Pay Credit Account.
Credit Option - a different way of paying for purchases on your Studio Pay Credit Account. The options we offer are:

• Interest Saver Option.
• Buy Now, Pay Later (BNPL) Option
• Fixed Payment Option

If one of these options is available, we'll tell you when you place your order. You can read more about Credit Options under Additional Terms below.

Plan - If you accept a Credit Option when you place an order, you'll start a Plan. We'll tell you how long the Plan will last.

Plan Balance - the amount you owe on a Plan. We'll remind you of this amount on your statement each month and you can view this online in My Account.

Plan Expiry Date - the date a Plan will end. We'll remind you of this date on your statement each month. In the statement we send before your Plan ends, we'll also tell you about any action you need to take to avoid paying interest.

What type of agreement is this?

This agreement is for a running credit account requiring regular payment. It is sometimes called revolving credit.

Studio Pay Credit Account

Interest rate

The interest rate is 34.1% per year (variable). We may vary it at any time by giving you notice. You can read more about this in the section Can the terms of this agreement ever change?. We calculate the rate as 2.84 pence in the 1 every calendar month.

Minimum payments

You must make at least the minimum payment each month. Please see What are my repayments and when are they due? below. If you only make the minimum payment each month, it will take you longer to pay what you owe. It will also cost you more as we charge interest on your outstanding balance. We recommend that you pay as much as you can reasonably afford.

Period of the agreement

This is an open-ended agreement. This means it doesn't have a fixed end date. It will continue until you or we end the agreement (see below for information regarding how and when this can be done).

What is the credit provided for?

The credit we provide under this agreement is for you to purchase goods and services from Studio and certain Frasers Group brands (and any other selected retailers we will tell you about from time to time) enabling you to spread the cost of those purchases.

What will my credit limit be and could this change?

We'll choose a suitable credit limit for you when we open your account. We'll tell your current credit limit on statements and you can also find it in the My Account section online. We base your initial credit limit on your personal circumstances and publicly available data from credit-reference agencies. (The data shows information about you including how you manage accounts run by other companies.) When you apply for an account, you can tell us if you'd like us to consider you for credit-limit increases in the future. We'll also explain how you can accept or reject increases.

We regularly review your credit limit to make sure it’s still right for you and your circumstances. We use internal data (which shows how you have been managing your account) and data from credit-reference agencies. If we think you are at risk of financial difficulties, we may not be able to offer you a credit-limit increase even if you have requested one.

Credit-limit increases: If you've opted in to credit-limit increase offers, we'll let you know if one is available to you. We'll normally give you at least 28 days notice of the proposed increase. You have the option of refusing the increase if you wish. If you request a credit-limit increase or agree to us applying a credit-limit increase earlier, we may apply it before the 28-day period ends. You can refuse any credit-limit increases or tell us not to offer them in the future. If you tell us you don't want a credit-limit increase, we won’t increase it. You can change your preference at any time. We'll only offer you a credit-limit increase if we think you can afford it. A higher credit limit may offer greater flexibility and convenience to meet your financial needs, but it may also increase the risk of borrowing too much, which could be expensive or take a long time to pay off. You should carefully consider whether you need a higher limit and if you can keep up your payments in the future.

 Credit-limit decreases: We may reduce your credit limit if our review indicates you may struggle to repay it or if your circumstances have changed. You can also ask us to increase or decrease your credit limit by completing a short form in My Account on our website To speak to us about your credit limit, please contact the Financial Services team as shown in the contact details section below. You can change your credit-limit preferences at any time online in My Account.

How and when will you provide credit to me?

Credit is subject to status. When you satisfactorily complete our identification, verification and credit checks, we'll give you a credit limit.

What have you assumed when calculating the annual percentage rate (APR)?

39.9% APR variable

• Example based on a credit limit of £1000: the total amount payable would be £1188.98 and our total charge for credit under this agreement would be £188.98. This example is based on the following assumptions: -You order £1000 of goods and services from us immediately at the start of the agreement.
• You repay the whole amount (including interest) in 12 equal monthly instalments.
• The interest rate stays the same.
• The agreement remains valid for the whole 12-month period.
• Both of us meet all our obligations under the agreement.

As we don't know when this agreement is made, we have assumed (as required by regulations) the APR and total amount payable allowing you to compare this agreement with those of other providers at the time you sign it. 

How do you calculate interest?

We calculate the interest daily using the account balance, once we have processed all transactions for that day. We then add the total of the daily interest charges to the account balance on your statement date. This means that the earlier you make your payment(s), less interest will be charged as the balance will have been lower for a longer period. Interest is compounded, which means we charge interest on interest. We don't compound interest on default charges.

When will you charge interest to my account?

If you pay off your full balance by the payment due date, we won’t charge interest on purchases made during your current statement period. But if you choose not to do so, we'll charge interest from the date we added the goods or services (or both) to your account until the date you pay off your balance.

What other charges can you apply to my account?

We may apply a default charge of £12 to your account: 

• if you don't make your minimum payment on time or if you don't pay enough to cover the minimum payment in full.

Can the terms of this agreement ever change?

We may change the terms of the agreement (including charges and the interest rate) when we believe we need to reflect:

• changes in relevant laws or regulations
• changes in our systems
• changes in market conditions affecting our business
• new developments in products, technology or other changes in lending practices
• additional, improved or revised product features
• new promotional offers
• changes in your personal circumstances and how you operate your account
• changes that in our view affect your credit status
• changes needed to operate our business in a profitable and prudent way
• if we are switching the type of account you have with us, for example because we stop offering the account you have

We'll only make changes for a valid reason and in a proportionate way. We won’t change or introduce any fees to cover the same cost twice. As this contract has no fixed end date, we may from time to time need to make changes for other valid reasons not set out here. If we do this, you can end this agreement without charge.

If the change is in your favour, we may introduce it without notice and inform you at the next available opportunity. If the change is not in your favour, we'll give you 30 days' notice of it. You'll have 60 days from the notification date to:

• do nothing and accept the new terms, or
• reject the new terms. If you reject them, your balance will stay on the prevailing terms but you won’t be able to place any more orders with your account. We'll give you a reasonable amount of time to pay off any balance.

We won’t increase your interest rate if we think you are at risk of financial difficulty for example you have currently missed two or more payments, we have agreed a repayment plan or you are in serious discussion with a debt-counselling organisation and they have told us about this.

We may also increase your minimum payment or change the interest rate if you are in persistent debt or at risk of being in persistent debt.

What are my repayments and when are they due?

Each month you must make at least the minimum payment. 

If you have a Fixed Payment Plan the minimum payment will be: Any Fixed Payment Plan instalments plus 6% of the non-Fixed Payment Plan balance, including any Interest Saver Plan Balances (less any BNPL Plans that have not reached their Plan Expiry Date).

•  6% of the total balance, including any Interest Saver Plan Balances (less any BNPL Plans that have not reached their Plan Expiry Date).
• £10.

If your balance is less than £10, the whole balance will be due.

Each month we'll  send you a statement showing purchases, charges, payments made and refunds. The statement will also show your minimum payment and a payment due date. If you pay off your balance in full and on time every month, we won’t charge any interest to your account. If there hasn't been any activity on your account during a month and you do not have a Plan, we won’t send you a monthly statement. 

We  recommend you pay off as much as you can reasonably afford. If you don't pay the minimum payment or you are late paying it, we may charge you a fee of 12 even if you've made a payment to a specific Plan. Refunds and returns do not count as payments. If you are waiting for a refund or have a dispute on your account, you should still pay at least the minimum payment.

How do you apply my repayments to my account?

We allocate your payments as follows:

1. Repaying any amounts in arrears as shown on your statement.

2. Then repaying the Fixed Payment Plan up to the instalment amount.
3. Then, 6% of the non-Plan balances on your Studio Pay Credit Account. We allocate this in the following order: first
to interest, then to purchases of goods or services, and then finally to charges and fees.
4. Then repaying 6% of any Interest Saver Plans you have.
5. Then repaying any BNPL Plans that will expire by the date of your next statement.
6. Then repaying any Interest Saver Plans that will expire by the date of your next statement.
7. Then repaying any balance on your Studio Pay Credit Account not on a Plan.

8. Then repaying any Fixed Payment Plan
9. Then repaying any other BNPL Plans or Interest Saver Plans.
10. Then, finally, repaying any amounts we have added to your account since the previous statement date in the following order: first to any Studio Pay Credit Account amounts not on a plan, then to any Fixed Payment Plans, then to any BNPL or Interest Saver plans in the date order they are due to expire (BNPL takes priority if the expiry dates are the same). Any remaining payment will put your Studio Pay Credit Account into credit. If you have two or more Plans in the same Credit Option, the Plans will be repaid in the order they are due to expire, starting with the Plan that is closest to expiry. If a particular Credit Option is repaid in a different order, we'll tell you before you make a purchase using the Credit Option. We'll allocate payments in a different way, for example against a specific Plan, if you tell us to do it. Do not pay more than you owe. If you pay more than you owe, your account will go into credit and you will need to contact us to arrange a refund. 

What happens if I can’t make a payment?

If you have a Plan, and do not make your minimum payment this may mean we withdraw it and any Credit Options that might have been available to you. Withdrawing the Plan means the Plan Balance is transferred to your Studio Pay credit account, we’ll add interest backdated to the date the goods were despatched and we will charge interest on the transferred balance moving forward.

We must also report your payment behaviour to the credit-reference agencies. It could lead to you having to pay extra costs and make it more difficult for you to get credit in the future. It will raise the total cost of repaying the debt as the ongoing interest we charge will increase the amount you owe. Also, we may pass your debt to a debt-collection agency to collect on our behalf. We may also sell your debt to a debt-purchasing company who may take legal action.

If you are in financial difficulty or can’t make a payment, it’s important that you contact us quickly. Please call us on the number shown at the end of this agreement.

We may from time to time (if you wish) suspend, defer or reduce the minimum payment that would otherwise be due for the period we specify. This revised amount, if any, will then be the amount due under your agreement. If we do this, we will provide you with written notice and we will also let you know whether interest will continue to be charged under this agreement.

What happens if I’m in persistent debt?

Persistent debt means that over the last 18 months, you’ve paid more in interest, fees and charges than in repaying what you borrowed. If  you meet this definition, we’ll contact you to explain how we can help.

If you remain in persistent debt for 36 months, we will contact you to set out the options available to you to increase payments and request that you respond within a reasonable period. If we don’t receive a response, we will suspend the use of your Studio Pay account.

The options available include Fixed Payment Plans, which will ensure paydown of the persistent debt balance within a reasonable timeframe. You will also be offered forbearance if you don’t consider the Fixed Payment Plans to be sustainable.

Can I repay my balance early?

You have a right to repay your balance (in full or in part) at any time. You can do this by using any of the payment methods shown in our catalogue, on our website, or on your statement, or by calling our Financial Services team. We encourage you to pay off any BNPL or Interest Saver Plans before their plan expiry date to avoid being charged interest.

How can I withdraw from this agreement?

You have the right to withdraw from this agreement without giving a reason. Your right to do this starts on the day after the agreement is made (or the date we confirm your credit limit, if later) and continues for 14 days (the ‘withdrawal period’). 

To withdraw, you must notify us that you intend to do so within the withdrawal period. You can do this by calling us on 0371 200 0379 or by posting notice of your withdrawal to: Customer Care Department, Frasers Group Financial Services Limited, Preston, PR0 2RP. If you withdraw, you must repay any credit and accrued interest using any of the payment methods shown on your statement, on our website or in the Information Point in our catalogue without delay and no later than 30 days after giving us notice of withdrawal. At your request, we’ll give you details of the amount of interest payable per day.

Do I have any rights under the Consumer Credit Act 1974?

Under section 75, of the Consumer Credit Act 1974, you may have the right to sue the supplier, us or both if you have received unsatisfactory goods or services paid for under this agreement costing more than £100 and less than £30,000.  

Can you or I terminate this agreement early?

You can terminate this agreement at any time by:

• writing to us at our Customer Care Department (the address is below), and
• paying off your full balance using any of the payment methods shown in the Information Point in our catalogue, on your statement or on our website.

We can terminate this agreement immediately (after giving you notice under the Consumer Credit Act 1974) if you are in breach of the terms of the agreement. We may also end it at any time if you are not in breach of the agreement by giving you two months’ written notice.

We may terminate or suspend your right to use your account if you breach this agreement. We also reserve the right to terminate or suspend your right to use this account for other justifiable reasons such as:

• to prevent unauthorised or fraudulent use of credit
• we suspect you are using your account for business purposes or for re-sale
• you’ve given us false or misleading information on which we’ve relied
• you fail to make the minimum payment by the due date
• there’s a risk of you being unable to meet your repayments or if you are showing signs of financial difficulty on this account or another account you have with us, or you become bankrupt, enter into a voluntary arrangement or make a proposal for reduced payments.

We’ll try to let you know before we terminate or suspend your right to use this account. If we can’t tell you before, we’ll tell you immediately after.

If you don’t use your account for 36 months, we may terminate this agreement under our rules on dormant accounts. If, after 36 months, you wish to use your account again and we’ve closed it under those rules, you must reapply to open an account as a new applicant. Two months before we close your account, we’ll write to let you know we’re terminating this agreement. Our rules on dormant accounts help to protect you and us from fraud.

How do I complain?

If you want to complain about our consumer-credit activities under this agreement, please contact us first. If we cannot resolve your complaint to your satisfaction, you may be able to ask the Financial Ombudsman Service (FOS) to consider it. As part of our complaint-handling processes, we’ll make you aware of your rights of referral to FOS and how you can do that.

You can contact FOS at: Financial Ombudsman Service, Exchange Tower, London E14 9SR; by telephone on 0800 023 4567, by an online complaints form at www.financial-ombudsman.org.uk/contact-us or email at complaint.info@financialombudsman.org.uk.

Can this agreement and its rights and duties be transferred to a third party?

As the lender, we may at any time transfer our rights or duties (or both) under this agreement to someone else. Doing this won’t affect your statutory rights or obligations (or both). You may not transfer your rights or obligations (or both) under this agreement.

What is the governing law and who regulates you?

This agreement is governed by English law. You agree that any legal cases concerning this agreement are heard by the courts of England and Wales. By law we must inform you that we supply the information in this agreement in English only. We’ll continue to communicate in English during your agreement with us.

Frasers Group Financial Services Limited is regulated and authorised by the Financial Conduct Authority (FCA) for consumer credit and general insurance activities. Our FCA registration number is 311908. You can find a list of our permissions by checking the FCA register at www.fca.org.uk/firms/financial-services-register. You can contact the FCA at 12 Endeavour Square, London E20 1JN.

Do you subscribe to any lending codes?

Yes. We are members of the Finance and Leasing Association (FLA). We keep to their Lending Code. You can ask us for a copy of the FLA Lending Code or view it by visiting http://www.fla.org.uk/index.php/consumer-information/lending-code/.

ADDITIONAL TERMS

Promotional Credit Options

BNPL Option

Interest

If you repay the balance of a BNPL Plan in full before the Plan Expiry Date, we won’t charge any interest.

If you choose not to pay off the Plan Balance in full, we’ll charge interest on the unpaid Plan Balance. We’ll calculate interest from the date the goods were despatched and use the interest rate shown in the Interest Rate section above. We’ll add this interest and Plan Balance to your account balance on the first statement after the Plan Expiry Date. We charge interest on your account balance if you don’t pay it in full.

If we end this Plan due to a breach of the agreement before the Plan Expiry Date, we’ll charge interest on the Plan Balance. We’ll calculate it from the date the goods were despatched.

Minimum payments

You don’t need to make any payments towards a BNPL Plan before the Plan Expiry Date but you are free to do so. We don’t include your BNPL balance when we calculate your minimum payment. If you have a balance from purchases that are not on a BNPL Plan, you must make a minimum payment each month; this will be shown on your statement.

If you fail to make any minimum payment requested on your account, the BNPL Plan may end.

Early Maturity

We may mature any open BNPL plans before the expiry date if:-

• you enter into a payment arrangement
• your account status is updated to reflect an identified vulnerability

your BNPL plan balance reaches zero or goes into credit

Interest Saver Option

Interest

If you repay the balance of an Interest Saver Plan in full before the Plan Expiry Date, we won’t charge any interest.

If you choose not to repay the Plan Balance in full, we’ll charge you interest on the unpaid Plan Balance. We’ll calculate interest from the date the goods were despatched and use the interest rate shown in the Interest Rate section above. We’ll add this interest and Plan Balance to your account balance on the first statement after the Plan Expiry Date. We charge interest on your account balance if you don’t repay your account balance in full.

If we end this Plan due to a breach of the agreement before the Plan Expiry Date, we’ll charge interest on the Plan Balance. We calculate it from the date the goods were despatched.

Minimum payments

You must make the minimum payment each month. When we calculate your minimum payment, we’ll include Interest Saver Plan Balances in the calculation.

If you fail to make a minimum payment, the Interest Saver Plan may end.

Early Maturity

We may mature any open Interest Saver plans before the expiry date if: -

• you enter into a payment arrangement
• your account status is updated to reflect an identified vulnerability
• your Interest Saver plan balance reaches zero or goes into credit

Fixed Payment Option

Interest

We’ll charge interest at 39.9% per year (variable) on the outstanding balance in the Fixed Payment Plan. It will be charged from the date the Plan is created.

Minimum Payments

You must pay the equal monthly instalments of the Fixed Payment Option over the fixed period. You can choose to pay more than the equal instalments at any time, and this may shorten the fixed period.  We’ll tell you the amount of each instalment in your monthly statement. Your monthly payment will form part of your minimum payment requirement.

Our rights of set-off

If we owe you any money, we’ll be entitled to set off the amount we owe you against any debt you owe us across this and other Frasers Group Financial Services Limited accounts.

Continuous payment authority

We may suggest using a continuous payment authority to debit your card as an alternative payment method. If you agree to this, you authorise us to take payments due by debiting the card you provided at the time. This will allow us to take agreed payments directly from your bank or credit card account. We’ll do this up to the date of any other payment arrangement you and we agree or until you cancel the arrangement, which you can do by contacting us. The amounts we’ll take in this way will be the minimum payment due from you, or the amounts we agree with you at the time if you are making reduced or alternative payments to pay off arrears. We’ll let you know if we cannot take any agreed payment in this way. If your card issuer refuses payment, we won’t request any further payments until we’ve contacted you. We’ll never insist that you set up a continuous payment authority as a condition of us accepting lower or rescheduled repayments.

Statements & Notices

We’ll send you an electronic notification to let you know when your e-statement is ready. You can then view your statement by logging into the My Account section of our website. We may also make certain relevant regulatory notices (for example notices of variation, notice of sums in arrears and notice of default sums) regarding your account available to you electronically. If you want to receive paper statements or notices, please log into My Account online and update your preferences

You are responsible for checking each statement, regardless of how you receive it. You should let us know straight away if:

• you don’t receive a statement when you expect one
• you can’t access your statement, or
• you think there is something wrong on your statement.

We reserve the right to change the way we send your statements.

You receive your first statement after your first order. You can ask us to change your payment due date by asking us to change your statement date. You can only change your statement date twice in a 12-month period. Any changes made to your statement date will start from the next statement period.

My Account

Please be aware that while we take reasonable care to ensure the completeness, accuracy and integrity of the information displayed on our website(s) and App, the information is only a reproduction of the information held on our systems at the relevant time or, where information is received from a third party, an accurate reproduction of the information received by us from that third party, at the relevant time.

If you view your account balance, any available credit displayed at the time of viewing will not necessarily be available in full for your use at that time. The balance shown may not take into account any debits, credits or other transactions in respect of your account that have not yet cleared through the relevant systems.

 You must keep all security details in connection with your account strictly confidential, and you must take care not to disclose them to anyone else, or use the Studio or certain Frasers Group brands (and any other selected retailers we will tell you about from time to time) websites or App in such a way that third parties would be able to see, access or obtain your security details.

Changes to your circumstances and personal details

You must notify us immediately via the contact details below, if you change any part of your name, address, telephone number(s) or your email address or if you make your payments to us by Direct Debit and you change the bank or building society from which you make your payments 

We want to make sure you can afford to repay the credit account you are applying for. If you are aware of any future changes in your circumstances that could reduce your income or increase your outgoings, please contact our Financial Services team. This could be a decrease in your working hours, maternity/paternity leave, an increase in your living costs such as rent or bills, or retirement.

Contact details 

• Call Financial Services on 0371 376 5686
• Customer Care Department, Frasers Group Financial Services, Express House, Clayton Business Park, Clayton-le-moors, Accrington, Lancashire, BB5 5JY

 For and on behalf of Frasers Group Financial Services Limited.

What is Studio Pay?

Studio Pay is the name of your credit account which enables you to spread the cost of purchases over a timeframe that suits you as long as you make at least the minimum monthly payment

Who are Frasers Group?

Frasers Group own many retail brands and business such as Sports Direct, Flannels and House of Fraser.

Why have I received this letter/email?

We have made changes to your terms and conditions to enable us to introduce the functionality to use your Studio Pay account across participating Frasers Group brands. We have contacted all customers who have used their Studio Pay account in the last two years to let them know about the changes.

Which Frasers Group brands will allow me to use my Studio Pay account?

At launch, you will be able to use it at Sports Direct shortly followed by Flannels and House of Fraser. We will keep you updated when it becomes available on other brands. If Studio is available to use on a Frasers Group brand website, you will see it as a payment option when you reach the checkout.

I already have an account with Sports Direct, Flannel’s or House of Fraser?

Not to worry. Your account with those brands is what you will be using to place the order, at checkout if you wish, you will be able to link to your Studio Pay account to place your order onto your credit account. You will still have the option to use any other payment methods displayed at the checkout.

How will this work if I have different interest savers with different stores?

Any Interest Saver plan you have will be shown individually in My Account and on your Studio Pay statement.

Will my APR change or the interest rates be different with different stores? 

No, your APR and interest rate will be the same regardless of where you purchase on your Studio Pay account.

Will I be able to use this in store or just on the website check out?

You will only be able to use Studio Pay to shop at participating Frasers Group brands online. If this changes, we will let you know.

Will I have an account automatically set up with Sports Direct, Flannels and House of Fraser?

No, we won’t automatically create an account for you with any of the participating Frasers Group brands.

I don’t want to use my Studio Pay Credit account with other retailers

That’s fine, we have just made this functionality available for you to utilise if you would like to.

I am in financial difficulty and on a payment arrangement, why have I received this?

We need to make you aware of this, so that if you are in a position to purchase in the future, you are aware of that you are able to do so.

Will Sports Direct, Flannels and House of Fraser offer similar promotions to Studio?

The participating brands will have promotional discounts available from time to time.

Who do I contact if I have an issue with my order that I buy from Sports Direct, Flannels or House of Fraser?

If there is an issue with an order you need to contact the participating brand that you purchased it from, if there is a query regarding your credit account then you will need to contact us.

How will these purchases show on my statement?

Purchases made with your Studio Pay account on a participating Frasers Group website will appear as transaction on your Studio Pay statement. Purchases will also appear in My Account on the Studio/Ace websites and on the Studio app. The full details of your order (the goods and services purchased) will be in order confirmation emails issued by the participating website.

Credit Agreement regulated by the Consumer Credit Act 1974

Parties to the agreement

This agreement is between us, Frasers Group Financial Services Limited, Express House, Clayton Business Park, Clayton-le-Moors, Accrington, Lancs BB5 5JY and you.

Useful definitions

Studio Pay Credit Account a type of personal credit account where you can order and receive goods and services from Studio and certain Frasers Group brands (and any other selected retailers we will tell you about from time to time) and pay for them later. Your Studio Pay Credit Account has a credit limit and you must pay a monthly minimum amount when you have an unpaid balance. We charge interest on the unpaid balance. From time to time, we may offer you a Credit Option. This is a different way of paying for purchases on your Studio Pay Credit Account.
Credit Option - a different way of paying for purchases on your Studio Pay Credit Account. The options we offer are:

• Interest Saver Option.
• Buy Now, Pay Later (BNPL) Option
• Fixed Payment Option

If one of these options is available, we'll tell you when you place your order. You can read more about Credit Options under Additional Terms below.

Plan - If you accept a Credit Option when you place an order, you'll start a Plan. We'll tell you how long the Plan will last.

Plan Balance - the amount you owe on a Plan. We'll remind you of this amount on your statement each month and you can view this online in My Account.

Plan Expiry Date - the date a Plan will end. We'll remind you of this date on your statement each month. In the statement we send before your Plan ends, we'll also tell you about any action you need to take to avoid paying interest.

What type of agreement is this?

This agreement is for a running credit account requiring regular payment. It is sometimes called revolving credit.

Studio Pay Credit Account

Interest rate

The interest rate is 34.1% per year (variable). We may vary it at any time by giving you notice. You can read more about this in the section Can the terms of this agreement ever change?. We calculate the rate as 2.84 pence in the 1 every calendar month.

Minimum payments

You must make at least the minimum payment each month. Please see What are my repayments and when are they due? below. If you only make the minimum payment each month, it will take you longer to pay what you owe. It will also cost you more as we charge interest on your outstanding balance. We recommend that you pay as much as you can reasonably afford.

Period of the agreement

This is an open-ended agreement. This means it doesn't have a fixed end date. It will continue until you or we end the agreement (see below for information regarding how and when this can be done).

What is the credit provided for?

The credit we provide under this agreement is for you to purchase goods and services from Studio and certain Frasers Group brands (and any other selected retailers we will tell you about from time to time) enabling you to spread the cost of those purchases.

What will my credit limit be and could this change?

We'll choose a suitable credit limit for you when we open your account. We'll tell your current credit limit on statements and you can also find it in the My Account section online. We base your initial credit limit on your personal circumstances and publicly available data from credit-reference agencies. (The data shows information about you including how you manage accounts run by other companies.) When you apply for an account, you can tell us if you'd like us to consider you for credit-limit increases in the future. We'll also explain how you can accept or reject increases.

We regularly review your credit limit to make sure it’s still right for you and your circumstances. We use internal data (which shows how you have been managing your account) and data from credit-reference agencies. If we think you are at risk of financial difficulties, we may not be able to offer you a credit-limit increase even if you have requested one.

Credit-limit increases: If you've opted in to credit-limit increase offers, we'll let you know if one is available to you. We'll normally give you at least 28 days notice of the proposed increase. You have the option of refusing the increase if you wish. If you request a credit-limit increase or agree to us applying a credit-limit increase earlier, we may apply it before the 28-day period ends. You can refuse any credit-limit increases or tell us not to offer them in the future. If you tell us you don't want a credit-limit increase, we won’t increase it. You can change your preference at any time. We'll only offer you a credit-limit increase if we think you can afford it. A higher credit limit may offer greater flexibility and convenience to meet your financial needs, but it may also increase the risk of borrowing too much, which could be expensive or take a long time to pay off. You should carefully consider whether you need a higher limit and if you can keep up your payments in the future.

 Credit-limit decreases: We may reduce your credit limit if our review indicates you may struggle to repay it or if your circumstances have changed. You can also ask us to increase or decrease your credit limit by completing a short form in My Account on our website To speak to us about your credit limit, please contact the Financial Services team as shown in the contact details section below. You can change your credit-limit preferences at any time online in My Account.

How and when will you provide credit to me?

Credit is subject to status. When you satisfactorily complete our identification, verification and credit checks, we'll give you a credit limit.

What have you assumed when calculating the annual percentage rate (APR)?

39.9% APR variable

• Example based on a credit limit of £1000: the total amount payable would be £1188.98 and our total charge for credit under this agreement would be £188.98. This example is based on the following assumptions: -You order £1000 of goods and services from us immediately at the start of the agreement.
• You repay the whole amount (including interest) in 12 equal monthly instalments.
• The interest rate stays the same.
• The agreement remains valid for the whole 12-month period.
• Both of us meet all our obligations under the agreement.

As we don't know when this agreement is made, we have assumed (as required by regulations) the APR and total amount payable allowing you to compare this agreement with those of other providers at the time you sign it. 

How do you calculate interest?

We calculate the interest daily using the account balance, once we have processed all transactions for that day. We then add the total of the daily interest charges to the account balance on your statement date. This means that the earlier you make your payment(s), less interest will be charged as the balance will have been lower for a longer period. Interest is compounded, which means we charge interest on interest. We don't compound interest on default charges.

When will you charge interest to my account?

If you pay off your full balance by the payment due date, we won’t charge interest on purchases made during your current statement period. But if you choose not to do so, we'll charge interest from the date we added the goods or services (or both) to your account until the date you pay off your balance.

What other charges can you apply to my account?

We may apply a default charge of £12 to your account: 

• if you don't make your minimum payment on time or if you don't pay enough to cover the minimum payment in full.

Can the terms of this agreement ever change?

We may change the terms of the agreement (including charges and the interest rate) when we believe we need to reflect:

• changes in relevant laws or regulations
• changes in our systems
• changes in market conditions affecting our business
• new developments in products, technology or other changes in lending practices
• additional, improved or revised product features
• new promotional offers
• changes in your personal circumstances and how you operate your account
• changes that in our view affect your credit status
• changes needed to operate our business in a profitable and prudent way
• if we are switching the type of account you have with us, for example because we stop offering the account you have

We'll only make changes for a valid reason and in a proportionate way. We won’t change or introduce any fees to cover the same cost twice. As this contract has no fixed end date, we may from time to time need to make changes for other valid reasons not set out here. If we do this, you can end this agreement without charge.

If the change is in your favour, we may introduce it without notice and inform you at the next available opportunity. If the change is not in your favour, we'll give you 30 days' notice of it. You'll have 60 days from the notification date to:

• do nothing and accept the new terms, or
• reject the new terms. If you reject them, your balance will stay on the prevailing terms but you won’t be able to place any more orders with your account. We'll give you a reasonable amount of time to pay off any balance.

We won’t increase your interest rate if we think you are at risk of financial difficulty for example you have currently missed two or more payments, we have agreed a repayment plan or you are in serious discussion with a debt-counselling organisation and they have told us about this.

We may also increase your minimum payment or change the interest rate if you are in persistent debt or at risk of being in persistent debt.

What are my repayments and when are they due?

Each month you must make at least the minimum payment. 

If you have a Fixed Payment Plan the minimum payment will be: Any Fixed Payment Plan instalments plus 6% of the non-Fixed Payment Plan balance, including any Interest Saver Plan Balances (less any BNPL Plans that have not reached their Plan Expiry Date).

•  6% of the total balance, including any Interest Saver Plan Balances (less any BNPL Plans that have not reached their Plan Expiry Date).
• £10.

If your balance is less than £10, the whole balance will be due.

Each month we'll  send you a statement showing purchases, charges, payments made and refunds. The statement will also show your minimum payment and a payment due date. If you pay off your balance in full and on time every month, we won’t charge any interest to your account. If there hasn't been any activity on your account during a month and you do not have a Plan, we won’t send you a monthly statement. 

We  recommend you pay off as much as you can reasonably afford. If you don't pay the minimum payment or you are late paying it, we may charge you a fee of 12 even if you've made a payment to a specific Plan. Refunds and returns do not count as payments. If you are waiting for a refund or have a dispute on your account, you should still pay at least the minimum payment.

How do you apply my repayments to my account?

We allocate your payments as follows:

1. Repaying any amounts in arrears as shown on your statement.

2. Then repaying the Fixed Payment Plan up to the instalment amount.
3. Then, 6% of the non-Plan balances on your Studio Pay Credit Account. We allocate this in the following order: first
to interest, then to purchases of goods or services, and then finally to charges and fees.
4. Then repaying 6% of any Interest Saver Plans you have.
5. Then repaying any BNPL Plans that will expire by the date of your next statement.
6. Then repaying any Interest Saver Plans that will expire by the date of your next statement.
7. Then repaying any balance on your Studio Pay Credit Account not on a Plan.

8. Then repaying any Fixed Payment Plan
9. Then repaying any other BNPL Plans or Interest Saver Plans.
10. Then, finally, repaying any amounts we have added to your account since the previous statement date in the following order: first to any Studio Pay Credit Account amounts not on a plan, then to any Fixed Payment Plans, then to any BNPL or Interest Saver
plans in the date order they are due to expire (BNPL takes priority if the expiry dates are the same). Any remaining payment will put your Studio Pay Credit Account into credit. If you have two or more Plans in the same Credit Option, the Plans will be repaid in the order they are due to expire, starting with the Plan that is closest to expiry. If a particular Credit Option is repaid in a different order, we'll tell you before you make a purchase using the Credit Option. We'll allocate payments in a different way, for example against a specific Plan, if you tell us to do it. Do not pay more than you owe. If you pay more than you owe, your account will go into credit and you will need to contact us to arrange a refund. 

What happens if I can’t make a payment?

If you have a Plan, and do not make your minimum payment this may mean we withdraw it and any Credit Options that might have been available to you. Withdrawing the Plan means the Plan Balance is transferred to your Studio Pay credit account, we’ll add interest backdated to the date the goods were despatched and we will charge interest on the transferred balance moving forward.

We must also report your payment behaviour to the credit-reference agencies. It could lead to you having to pay extra costs and make it more difficult for you to get credit in the future. It will raise the total cost of repaying the debt as the ongoing interest we charge will increase the amount you owe. Also, we may pass your debt to a debt-collection agency to collect on our behalf. We may also sell your debt to a debt-purchasing company who may take legal action.

If you are in financial difficulty or can’t make a payment, it’s important that you contact us quickly. Please call us on the number shown at the end of this agreement.

We may from time to time (if you wish) suspend, defer or reduce the minimum payment that would otherwise be due for the period we specify. This revised amount, if any, will then be the amount due under your agreement. If we do this, we will provide you with written notice and we will also let you know whether interest will continue to be charged under this agreement.

What happens if I’m in persistent debt?

Persistent debt means that over the last 18 months, you’ve paid more in interest, fees and charges than in repaying what you borrowed. If  you meet this definition, we’ll contact you to explain how we can help.

If you remain in persistent debt for 36 months, we will contact you to set out the options available to you to increase payments and request that you respond within a reasonable period. If we don’t receive a response, we will suspend the use of your Studio Pay account.

The options available include Fixed Payment Plans, which will ensure paydown of the persistent debt balance within a reasonable timeframe. You will also be offered forbearance if you don’t consider the Fixed Payment Plans to be sustainable.

Can I repay my balance early?

You have a right to repay your balance (in full or in part) at any time. You can do this by using any of the payment methods shown in our catalogue, on our website, or on your statement, or by calling our Financial Services team. We encourage you to pay off any BNPL or Interest Saver Plans before their plan expiry date to avoid being charged interest.

How can I withdraw from this agreement?

You have the right to withdraw from this agreement without giving a reason. Your right to do this starts on the day after the agreement is made (or the date we confirm your credit limit, if later) and continues for 14 days (the ‘withdrawal period’). 

To withdraw, you must notify us that you intend to do so within the withdrawal period. You can do this by calling us on 0371 200 0379 or by posting notice of your withdrawal to: Customer Care Department, Frasers Group Financial Services Limited, Preston, PR0 2RP. If you withdraw, you must repay any credit and accrued interest using any of the payment methods shown on your statement, on our website or in the Information Point in our catalogue without delay and no later than 30 days after giving us notice of withdrawal. At your request, we’ll give you details of the amount of interest payable per day.

Do I have any rights under the Consumer Credit Act 1974?

Under section 75, of the Consumer Credit Act 1974, you may have the right to sue the supplier, us or both if you have received unsatisfactory goods or services paid for under this agreement costing more than £100 and less than £30,000.  

Can you or I terminate this agreement early?

You can terminate this agreement at any time by:

• writing to us at our Customer Care Department (the address is below), and
• paying off your full balance using any of the payment methods shown in the Information Point in our catalogue, on your statement or on our website.

We can terminate this agreement immediately (after giving you notice under the Consumer Credit Act 1974) if you are in breach of the terms of the agreement. We may also end it at any time if you are not in breach of the agreement by giving you two months’ written notice.

We may terminate or suspend your right to use your account if you breach this agreement. We also reserve the right to terminate or suspend your right to use this account for other justifiable reasons such as:

• to prevent unauthorised or fraudulent use of credit
• we suspect you are using your account for business purposes or for re-sale
• you’ve given us false or misleading information on which we’ve relied
• you fail to make the minimum payment by the due date
• there’s a risk of you being unable to meet your repayments or if you are showing signs of financial difficulty on this account or another account you have with us, or you become bankrupt, enter into a voluntary arrangement or make a proposal for reduced payments.

We’ll try to let you know before we terminate or suspend your right to use this account. If we can’t tell you before, we’ll tell you immediately after.

If you don’t use your account for 36 months, we may terminate this agreement under our rules on dormant accounts. If, after 36 months, you wish to use your account again and we’ve closed it under those rules, you must reapply to open an account as a new applicant. Two months before we close your account, we’ll write to let you know we’re terminating this agreement. Our rules on dormant accounts help to protect you and us from fraud.

How do I complain?

If you want to complain about our consumer-credit activities under this agreement, please contact us first. If we cannot resolve your complaint to your satisfaction, you may be able to ask the Financial Ombudsman Service (FOS) to consider it. As part of our complaint-handling processes, we’ll make you aware of your rights of referral to FOS and how you can do that.

You can contact FOS at: Financial Ombudsman Service, Exchange Tower, London E14 9SR; by telephone on 0800 023 4567, by an online complaints form at www.financial-ombudsman.org.uk/contact-us or email at complaint.info@financialombudsman.org.uk.

Can this agreement and its rights and duties be transferred to a third party?

As the lender, we may at any time transfer our rights or duties (or both) under this agreement to someone else. Doing this won’t affect your statutory rights or obligations (or both). You may not transfer your rights or obligations (or both) under this agreement.

What is the governing law and who regulates you?

This agreement is governed by English law. You agree that any legal cases concerning this agreement are heard by the courts of England and Wales. By law we must inform you that we supply the information in this agreement in English only. We’ll continue to communicate in English during your agreement with us.

Frasers Group Financial Services Limited is regulated and authorised by the Financial Conduct Authority (FCA) for consumer credit and general insurance activities. Our FCA registration number is 311908. You can find a list of our permissions by checking the FCA register at www.fca.org.uk/firms/financial-services-register. You can contact the FCA at 12 Endeavour Square, London E20 1JN.

Do you subscribe to any lending codes?

Yes. We are members of the Finance and Leasing Association (FLA). We keep to their Lending Code. You can ask us for a copy of the FLA Lending Code or view it by visiting http://www.fla.org.uk/index.php/consumer-information/lending-code/.

ADDITIONAL TERMS

Promotional Credit Options

BNPL Option

Interest

If you repay the balance of a BNPL Plan in full before the Plan Expiry Date, we won’t charge any interest.

If you choose not to pay off the Plan Balance in full, we’ll charge interest on the unpaid Plan Balance. We’ll calculate interest from the date the goods were despatched and use the interest rate shown in the Interest Rate section above. We’ll add this interest and Plan Balance to your account balance on the first statement after the Plan Expiry Date. We charge interest on your account balance if you don’t pay it in full.

If we end this Plan due to a breach of the agreement before the Plan Expiry Date, we’ll charge interest on the Plan Balance. We’ll calculate it from the date the goods were despatched.

Minimum payments

You don’t need to make any payments towards a BNPL Plan before the Plan Expiry Date but you are free to do so. We don’t include your BNPL balance when we calculate your minimum payment. If you have a balance from purchases that are not on a BNPL Plan, you must make a minimum payment each month; this will be shown on your statement.

If you fail to make any minimum payment requested on your account, the BNPL Plan may end.

Early Maturity

We may mature any open BNPL plans before the expiry date if:-

• you enter into a payment arrangement
• your account status is updated to reflect an identified vulnerability

your BNPL plan balance reaches zero or goes into credit

Interest Saver Option

Interest

If you repay the balance of an Interest Saver Plan in full before the Plan Expiry Date, we won’t charge any interest.

If you choose not to repay the Plan Balance in full, we’ll charge you interest on the unpaid Plan Balance. We’ll calculate interest from the date the goods were despatched and use the interest rate shown in the Interest Rate section above. We’ll add this interest and Plan Balance to your account balance on the first statement after the Plan Expiry Date. We charge interest on your account balance if you don’t repay your account balance in full.

If we end this Plan due to a breach of the agreement before the Plan Expiry Date, we’ll charge interest on the Plan Balance. We calculate it from the date the goods were despatched.

Minimum payments

You must make the minimum payment each month. When we calculate your minimum payment, we’ll include Interest Saver Plan Balances in the calculation.

If you fail to make a minimum payment, the Interest Saver Plan may end.

Early Maturity

We may mature any open Interest Saver plans before the expiry date if: -

• you enter into a payment arrangement
• your account status is updated to reflect an identified vulnerability
• your Interest Saver plan balance reaches zero or goes into credit

Fixed Payment Option

Interest

We’ll charge interest at 39.9% per year (variable) on the outstanding balance in the Fixed Payment Plan. It will be charged from the date the Plan is created.

Minimum Payments

You must pay the equal monthly instalments of the Fixed Payment Option over the fixed period. You can choose to pay more than the equal instalments at any time, and this may shorten the fixed period.  We’ll tell you the amount of each instalment in your monthly statement. Your monthly payment will form part of your minimum payment requirement.

Our rights of set-off

If we owe you any money, we’ll be entitled to set off the amount we owe you against any debt you owe us across this and other Frasers Group Financial Services Limited accounts.

Continuous payment authority

We may suggest using a continuous payment authority to debit your card as an alternative payment method. If you agree to this, you authorise us to take payments due by debiting the card you provided at the time. This will allow us to take agreed payments directly from your bank or credit card account. We’ll do this up to the date of any other payment arrangement you and we agree or until you cancel the arrangement, which you can do by contacting us. The amounts we’ll take in this way will be the minimum payment due from you, or the amounts we agree with you at the time if you are making reduced or alternative payments to pay off arrears. We’ll let you know if we cannot take any agreed payment in this way. If your card issuer refuses payment, we won’t request any further payments until we’ve contacted you. We’ll never insist that you set up a continuous payment authority as a condition of us accepting lower or rescheduled repayments.

Statements & Notices

We’ll send you an electronic notification to let you know when your e-statement is ready. You can then view your statement by logging into the My Account section of our website. We may also make certain relevant regulatory notices (for example notices of variation, notice of sums in arrears and notice of default sums) regarding your account available to you electronically. If you want to receive paper statements or notices, please log into My Account online and update your preferences

You are responsible for checking each statement, regardless of how you receive it. You should let us know straight away if:

• you don’t receive a statement when you expect one
• you can’t access your statement, or
• you think there is something wrong on your statement.

We reserve the right to change the way we send your statements.

You receive your first statement after your first order. You can ask us to change your payment due date by asking us to change your statement date. You can only change your statement date twice in a 12-month period. Any changes made to your statement date will start from the next statement period.

My Account

Please be aware that while we take reasonable care to ensure the completeness, accuracy and integrity of the information displayed on our website(s) and App, the information is only a reproduction of the information held on our systems at the relevant time or, where information is received from a third party, an accurate reproduction of the information received by us from that third party, at the relevant time.

If you view your account balance, any available credit displayed at the time of viewing will not necessarily be available in full for your use at that time. The balance shown may not take into account any debits, credits or other transactions in respect of your account that have not yet cleared through the relevant systems.

 You must keep all security details in connection with your account strictly confidential, and you must take care not to disclose them to anyone else, or use the Studio or certain Frasers Group brands (and any other selected retailers we will tell you about from time to time) websites or App in such a way that third parties would be able to see, access or obtain your security details.

Changes to your circumstances and personal details

You must notify us immediately via the contact details below, if you change any part of your name, address, telephone number(s) or your email address or if you make your payments to us by Direct Debit and you change the bank or building society from which you make your payments 

We want to make sure you can afford to repay the credit account you are applying for. If you are aware of any future changes in your circumstances that could reduce your income or increase your outgoings, please contact our Financial Services team. This could be a decrease in your working hours, maternity/paternity leave, an increase in your living costs such as rent or bills, or retirement.

Contact details 

• Call Financial Services on 0371 376 5686
• Customer Care Department, Frasers Group Financial Services, Express House, Clayton Business Park, Clayton-le-moors, Accrington, Lancashire, BB5 5JY

 For and on behalf of Frasers Group Financial Services Limited.

What has happened?

I received a letter/email asking me to confirm my details before you will process any necessary refunds.

Why has my account been returned?

Why will it take up to 90 days?

Should I continue to make payments?

What if I've just made a payment? Will this be returned to me? 

The named person has passed away what shall I do?

Why have I been contacted regarding someone who has passed away?

I received a letter/email asking me to confirm I am the personal representative before you will send a cheque to me why?

What will happen if my details have changed? Can you still process my refund?

Can you make a cheque payable to a family member or friend?

Can you send the payment to my bank account?

I am struggling with some of the language in the letter - can you help?

How is my refund calculated?

What is Compound Interest?

Notional Credit Position

Compensatory Interest

I am not happy about this; how can I make a complaint?

This letter came to my address, but the person it's addressed to doesn't live here.

How can I contact you?

Frequently asked questions, with answers

What has happened?

When we processed your application for credit, we made some mistakes during our affordability checking process, and regrettably, this meant that your application was incorrectly accepted.

We are committed to ensuring that our conduct is fair and appropriate. Therefore, if a mistake is identified, we will look to put it right and ensure that it doesn't happen again.

Following a review of an account previously held with us, we have identified that we made a mistake.

A letter/email will be issued in due course which will explain in more detail.

I received a letter/email asking me to confirm my details before you will process any necessary refunds.

We need to make sure we have the most up-to-date information for you so that we can make sure any refund cheque is correctly addressed to you. This avoids unnecessary delays in getting a refund cheque out to you if any of your information has changed.

Why has my account been returned?

To allow us to carry out a full assessment and process the necessary refunds.

Why will it take up to 90 days?

We need to fully understand the impact of the mistakes we made and accurately calculate your refund of interest and fees. We want to make sure our assessment is thorough and accurate, and this can therefore take some time. We will complete this process as soon as we can and will contact you as soon as we have some further information for you. As a reminder, you do not need to make any further payments to your account.

Should I continue to make payments?

No, you dont need to make any payments towards the outstanding balance, this also includes any payments being made on your behalf, by a third party. we will be in contact in due course with further information.

What if I've just made a payment? Will this be returned to me?

Any payment made to the debt purchaser since your account was placed on hold and transferred back to us will be refunded back to you by the debt purchaser.

The named person has passed away what shall I do?

Please contact us using the contact information at the end of these FAQs to let us know.

Why have I been contacted regarding someone who has passed away?

Whilst the account holder has passed away, a refund may still be owed. If you are the personal representative of the late account holder please contact us If you are not the personal representative, but you do know who they are, please could you direct the email/letter to them.

I received a letter/email asking me to confirm I am the personal representative before you will send a cheque to me why?

We need to make sure we are sending out a cheque to the correct individual which would be the personal representative of the late account holder.

We can confirm this through the personal indemnity form supplied and a copy of the death certificate. You can send this to us via email or by post. Our contact details are at the bottom of this article.

What will happen if my details have changed? Can you still process my refund?

Yes. Once you contact us with your updated details, we will attempt to verify them. If we are unable to do this using the information you have provided, we will aim to contact you to obtain further details.

Can you make a cheque payable to a family member or friend?

No, as you are the named account holder and to protect your payment from fraud, we will need to make your cheque payable to you.

Can you send the payment to my bank account?

We are sorry, but we are unable to arrange a bank transfer. Your refund will need to be issued by cheque.

I am struggling with some of the language in the letter - can you help?

For further clarity, we have added some additional explanations below for you, if you need any further help, please contact us using the details at the bottom of this FAQ.

How is my refund calculated?

Your refund is made up of interest and/or late payment fees that were charged in relation to the mistake that we made.

Where a refund of interest is due, we might need to also add any associated Compound Interest'.

Where a refund of any late payment fees is due, we have also added any interest charged on those fees.

What is Compound Interest?

Compound Interest is a phrase that is used regularly by banks, especially with regards to savings and debts. It means interest charged on top of interest.

Your usual monthly interest charges when shopping with us are calculated using your agreed interest rate as part of the compound interest calculation.

In the case of this refund, we have made sure to fairly recalculate your compound interest within the affected period and factored this into the amount of your refund where it was necessary.

Notional Credit Position

As part of the calculations for your refund, we made sure to identify if your account balance would have been in credit (Notional Credit Position), had this mistake not happened.

If your balance would have been in credit, we have made sure to add further compensatory interest onto the refund amount to compensate you for any lost interest.

Compensatory Interest

Compensatory Interest is the standard rate of interest that can be applied by businesses in the UK in relation to money being owed. This interest is applied at an annual rate of 8%.

Where any refunds of historic interest and fees would mean your balance would have been in credit at the time we applied the charges, we have also added compensatory interest on that credit balance (this is an additional 8% interest).

We are obliged to deduct 20% tax from any compensatory interest applied. If you pay tax at a different rate to the basic rate or if you are a non-UK taxpayer and wish to request a refund from HMRC, please contact us and we will provide you with the exact deducted value.

Please note, the tax deduction is not 20% of your total refund value, compensatory interest will only make up part of your full refund value.

I am not happy about this; how can I make a complaint?

We are sorry you're not happy about this. You can find help on how to record a complaint on this article- How do I make a complaint?

This letter came to my address, but the person it's addressed to doesn't live here.

Sorry about this, our records may need updating. Please return the envelope marked not at this address, ensuring the envelope is re-sealed.

Alternatively, please get in touch using the contact details at the bottom of this FAQ and we will update our records and do what we can to get this notification to the right customer.

How can I contact you?

You can contact us in any of the following ways. A member of our team will be happy to help you.

Call us: 0800 175 9611. Opening times are Monday to Friday 9am to 5pm.

Email us: fsremediationteam@studio.co.uk

Write to us: Frasers Group Financial Services Limited, Petre Rd, Clayton-le-Moors, Accrington BB5 5JY

What happened, why have I/the account holder been offered/received a refund?

I received a letter/email asking me to confirm my details before you will send my cheque to me why?

How can I send the proof you have asked for?

Why have I been contacted regarding someone who has passed away?

I received a letter/email asking me to confirm I am the personal representative before you will send my cheque to me why?

What will happen if my details have changed? Can you still process my refund cheque?

Can you make my cheque payable to a family member or friend?

Can you send the payment to my bank account?

I am struggling with some of the language in the letter - can you help?

How is my refund calculated?

What is Compound Interest?

Notional Credit Position

Compensatory Interest

I am not happy about this; how can I make a complaint?

This letter came to my address, but the person it's addressed to doesn't live here.

Why haven't I received my cheque yet?

My cheque has expired/I have lost my Cheque.

You mentioned you will be amending my credit file; how long will this take?

You mentioned that my credit account will be closed, can I open a new one?

You have said you are closing my account. What happens with the balance on my account?

How can I contact you?

Frequently asked questions, with answers

What happened, why have I/the account holder been offered/received a refund?

We are committed to ensuring that our conduct is fair and appropriate. Therefore, if a mistake is identified, we will look to put it right and ensure that it doesn't happen again.

Following a review of an account you hold/previously held, we have identified that we made a mistake.

Your letter/email explains the reason why we are issuing a refund, however, if you would like more information, please get in touch using the contact details at the bottom of this FAQ article.

I received a letter/email asking me to confirm my details before you will send my cheque to me why?

We need to make sure we have the most up-to-date information for you so that we can make sure your refund cheque is correctly addressed to you. This avoids unnecessary delays in getting your refund cheque out to you if any of your information has changed

How can I send the proof you have asked for?

You can send copies of your documents via email or post. If you need further help with getting your documents to us, please get in touch using the contact details at the bottom of this FAQ article.

Why have I been contacted regarding someone who has passed away?

Whilst the account holder has passed away, a refund is still owed. Therefore, we have contacted you to identify the personal representative of the late account holder in order to issue a refund.

If you are not the personal representative, but you do know who they are, please could you direct the letter to them.

I received a letter/email asking me to confirm I am the personal representative before you will send my cheque to me why?

We need to make sure we are sending out a cheque to the correct individual which would be the personal representative of the late account holder.

We can confirm this through the personal indemnity form supplied and a copy of the death certificate. You can send this to us via email or by post. Our contact details are at the bottom of this article.

What will happen if my details have changed? Can you still process my refund cheque?

Yes. Once you contact us with your updated details, we will attempt to verify them. If we are unable to do this using the information you have provided, we will aim to contact you to obtain further details within the following 14 days.

Can you make my cheque payable to a family member or friend?

No, as you are the named account holder and to protect your payment from fraud, we will need to make your cheque payable to you.

Can you send the payment to my bank account?

We are sorry, but we are unable to arrange a bank transfer. Your refund will need to be issued by cheque.

I am struggling with some of the language in the letter - can you help?

For further clarity, we have added some additional explanations below for you, if you need any further help, please contact us using the details at the bottom of this FAQ.

How is my refund calculated?

Your refund is made up of interest and/or late payment fees that were charged in relation to the mistake that we made.

Where a refund of interest is due, we have also added any associated Compound Interest.

Where a refund of any late payment fees is due, we have also added any interest charged on those fees.

What is Compound Interest?

Compound Interest is a phrase that is used regularly by banks, especially with regards to savings and debts. It means interest charged on top of interest.

Your usual monthly interest charges when shopping with Studio are calculated using your agreed interest rate as part of the compound interest calculation.

In the case of this refund, we have made sure to fairly recalculate your compound interest within the affected period and factored this into the amount of your refund where it was necessary.

Notional Credit Position

As part of the calculations for your refund, we made sure to identify if your account balance would have been in credit (Notional Credit Position), had this mistake not happened.

If your balance would have been in credit, we have made sure to add further compensatory interest onto the refund amount to compensate you for any lost interest.

Compensatory Interest

Compensatory Interest is the standard rate of interest that can be applied by businesses in the UK in relation to money being owed. This interest is applied at an annual rate of 8%.

Where any refunds of historic interest and fees would mean your balance would have been in credit at the time we applied the charges, we have also added compensatory interest on that credit balance (this is an additional 8% interest).

We are obliged to deduct 20% tax from any compensatory interest applied. If you pay tax at a different rate to the basic rate or if you are a non-UK taxpayer and wish to request a refund from HMRC, please contact us and we will provide you with the exact deducted value.

Please note, the tax deduction is not 20% of your total refund value, compensatory interest will only make up part of your full refund value.

I am not happy about this; how can I make a complaint?

We are sorry you're not happy about this. You can find help on how to record a complaint on this article- How do I make a complaint?

This letter came to my address, but the person it's addressed to doesn't live here.

Sorry about this, our records may need updating. Please return the envelope marked not at this address, ensuring the envelope is still sealed.

Alternatively, please get in touch using the contact details at the bottom of this FAQ and we will update our records and do what we can to get this notification to the right customer.

Why haven't I received my cheque yet?

Once you have confirmed your details, we will aim to issue your cheque within 30 days.

If your cheque hasn't arrived within 30 days of receiving your letter/email, please get in touch use the contact us section at the bottom of the FAQs.

My cheque has expired/I have lost my Cheque.

All cheques will expire within 6-months from the date of issue. If you have misplaced your cheque or find it has expired, please get in touch using the contact details at the bottom of this FAQ.

You mentioned you will be amending my credit file; how long will this take?

Any amendments to your credit file can take up to 30 days.

You mentioned that my credit account will be closed, can I open a new one?

You are welcome to apply for a new credit account at any time. Standard T&CS will apply.

You have said you are closing my account. What happens with the balance on my account?

We wont close the account until your balance is paid off. You will need to continue to pay your contractual payments as usual.

How can I contact you?

You can contact us in any of the following ways. A member of our team will be happy to help you.

Call us: 0800 917 0011. Opening times are Monday to Friday 9am to 5pm.

Email us: fsremediationteam@studio.co.uk

Write to us: Frasers Group Financial Services Limited, Petre Rd, Clayton-le-Moors, Accrington BB5 5JY

If you've not had a good experience with us, we'd like to know more. Your feedback is important to us.

If you'd like to get in touch with us about your query, or about a complaint, please follow the below guidance.

Have you been in touch with our team?

• If you're thinking about getting in touch for some information, or an explanation, we'd recommend you check our online FAQ's first. Many customers find the help they need without needing to get in touch.
• If you do need some help from our team or wish to raise a Complaint, please get in touch with us - we'd love the opportunity to try to help you. You can find our up-to-date contact details here - How can I contact you?

If I complain, what can I expect from you?

• For a final outcome, the timescale can vary based on the complexity of your complaint, and how busy we are. Complaints can take up to 56 days to be resolved during busy times.
• We will investigate all complaints received thoroughly and impartially.
• We will assess your complaint fairly, consistently and promptly taking into account all relevant factors.
• Where we cannot resolve your complaint within three days, we'll acknowledge receipt of your complaint promptly, providing you with the details of who is handling your complaint, how to contact them and what will happen next.
• We will then keep you informed of the progress of the measured being taken to resolve the complaint.
• If your complaint has not been resolved within 8 weeks, we will send you a final response or a further progress update regarding your complaint.

I've already complained and am unhappy with the response.

If, for whatever reason, you are unhappy with how we handled your complaint please get in touch to let us know using our contact details here - How can I contact you?. We'll capture your feedback and try to help you further.

If you're a Studio Pay customer, or your complaint is regarding a regulated financial product, you may be entitled to refer your complaint to the Financial Ombudsman Service if:

• You're dissatisfied with how we handled your complaint or
• If we've taken longer than 8 weeks to resolve your complaint

For regulated complaints we'll provide you with details of the Financial Ombudsman Service within our response to your complaint. Their contact details are:

• Get in touch online: click here
• Get in touch by phone: 0800 023 4567
• Website: www.financial-ombudsman.org.uk