Since we launched the McLEAR Smart Ring to the UK market, we have had a small 1% load fee implemented – meaning for every £30 loaded on to your ring, we charged a 30p fee to process this transaction. This was due to upstream charges from our suppliers and not something that we ever wanted to continue with for long.
We’ve always said that we were working on reducing this fee with our ultimate goal of completely removing it, as we know how unpalatable this can be when using your ring on a daily basis. Those small fees can begin to add up over time.
Well, today we bring some great news:
As of today, the 1% load fee is now no more!
We no longer charge any fee for loading funds on to your McLEAR Smart Ring.
Updates to the terms and conditions will be released in the RingPay app which reflect these changes.
We have lots of exciting new updates and features coming up that will be welcomed news for you as a ring user, so keep an eye out for updates on those over the coming months.
If you have any further questions, you can always drop us an email and our responsive customer service team will get back to you asap!
The McLEAR Team
PS. We would love it if you could help us spread the word about this important update by sharing on social media. Give us a mention @mclearco !
The McLEAR products and associated payment accounts are issued by PayrNet Limited (“PayrNet”) pursuant to a license from Visa. McLEAR is a distributor of PayrNet Limited, which is an Electronic Money Institution authorised by the FCA under the Electronic Money Regulations 2011 (EMR’s) with Firm Reference Number 900594.
If you’ve lost your ring or it has been stolen, please open the app on your mobile device and click to pause transactions immediately. This can be reversed if you find your ring.
If you do not have access to the app and are sure your ring is gone for good, please email us to cancel your ring. Please note, this action is non-reversible and will completely disable your ring forever.
We will use the data you supply to contact you with more information about the ring, the release date and how to purchase when available in your country. You will need to confirm your email address and can unsubscribe at any time.