You may not redeem cash until you have accrued at least twenty pounds (£20.00) in your account (the “Minimum Payment Amount”). The terms “Cash”, “Pounds” and similar terms are used interchangeably in this Website to mean any and all sums attributed to your Account.
You have no right to redeem the Cash in your Account, and we have no liability or obligation to pay you whatsoever, unless and until you have accrued at least the Minimum Payment Amount in your Account.
For example, if you open an account with an initial balance of 1 pound (£1.00), and then accrue another fourteen pounds (£14.00) in cash in that account, giving a total of £15.00, you are not eligible to receive any payment, and we are not liable to you for any amount. In this example you would have to earn yet another five pounds (£5.00), giving a total of twenty pounds (£20.00) accrued balance, before you would be entitled to any payment.
You can request payment of the Cash in your Account, subject to the remainder of these Terms and Conditions, by clicking the “Request Payment” link under the “My Account” tab. As noted above, you may not request payment and the Cash in your Account has no actual cash value until you have accrued at least the Minimum Payment Amount. A description of each payment request method will be displayed, and if the Member's Account balance is large enough, a link to request that method of payment will also be displayed. Currently, the Minimum Payment Amount required to request a cheque payment is £20.00; however, this amount may change from time to time. Members may have only one pending payment request at a time.
Requests to redeem Cash and send payments are processed on the first Wednesday that occurs at least 8 days after the payment was requested. This means payment requests will be processed between 10 and 16 days after request. After requesting payment, Members can view their scheduled payment processing date by clicking the “My Profile” link under the “My Account” tab.
Payments are processed on Wednesday of every week and generally posted within 3 days, depending on holidays and how many payment requests there are for that week.
All payments are inspected immediately prior to processing. Payment requests belonging to Members who have become inactive (as described above in Section IV) or who have duplicate Accounts will not be processed and will be removed.