Algbra is a finance app that puts the planet and sustainability first. We offer state of the art technology to cater for the everyday financing needs of ethically-minded consumers.

The Algbra app provides you with an e-money wallet and a Mastercard debit card. It comes with tools that can help you to lead a socially-conscious, environmentally-friendly life. With our CarbonTracker, you can review the emissions impact of every purchase, and offset your carbon footprint by supporting high-quality projects across the world.

Our promise to you:

1. We will never hold your money in an unethical or high-risk manner and we will adhere to strict policies around the industries in which we invest. As an Algbra customer, you will always have access to this information and thus be aware of where your money is held.
2. Transparency is at the core of everything we do; from full visibility of where your money is, to crystal-clear details on all fees or charges.
3. We’ll always put our values into action by giving back to our community and working with them on social impact initiatives. We’ll also give you the opportunity to join these initiatives and contribute to a greener and more inclusive society.
4. You’ll be a key part of the movement, through social impact tools embedded within the Algbra app (like our Carbon Footprint Tracker and offsetting tools).
5. Our systematic, unwavering approach to ethical finance focuses on financial inclusion, literacy, and gender equity. (This point is less practical, and more Values & Ethics than the others, so perhaps doesn’t fit as neatly).

We come from the communities we serve. Our diverse team represents a wide range of backgrounds and experiences and has been handpicked from the top of our industry.

The best way to get in touch is via our in-app support chat.

You can download the Algbra app from the iOS App Store and Android Google Play Store.

You currently need to be a UK resident to sign up with us, but we plan to expand to the rest of Europe and beyond soon.

Opening an account is simple. You’ll just need the following:

• A smart phone,
• U.K. mobile number,
• Valid ID document (e.g. passport or driving licence),
• And a proof of address (such as a utility bill).

We’ll ask you to upload a selfie and photos of your identification documents via the app, so we can verify your identity. Once your application is approved, you can use your account and order your biodegradable Algbra card straight away!

To open an account with Algbra you need to be a UK resident over the age of 18 with valid identity documents.

We have designed and developed the Algbra app to keep your information secure, using bank-grade encryption to protect your data in-transit and at-rest.

In order to protect your account, please make sure to keep your Algbra account details private and your card secure.

You can find guidance in our Privacy Policy or by getting in touch with us by emailing info@algbra.com.

1. Head over to the ‘Home’ section in the Algbra app
2. Select the three dots in the top right corner.
3. A pop up will appear for ‘Account Details’, where you will find your sort code and account number.

To do so, you can speak to our support team via the in-app chat. By logging in and notifying us, we can verify that it’s you making the request and not someone else. 

Please note that once you close your account you will not be able to open a new account with us for 12 months.

We have a dedicated page for information on our migration to Algbra-issued accounts and cards. Please see here.

1. Select the ‘Cards’ tab in the top left corner of the home screen.
2. Here you will see a ‘+’ icon in the top right corner.
3. Select this to order your biodegradable physical card and virtual card today!

You can use your card to make purchases online, and in millions of physical locations worldwide. Just look for the Mastercard logo or for a notice that a merchant accepts it. 

If you have any trouble, just get in touch with us via the in-app chat and we’ll be happy to help.

When you make a purchase abroad or online in a foreign currency, certain banks apply a mark-up to the exchange rate, preventing you from getting the best possible rate. When you use your Algbra card, we use the Mastercard Exchange rate, without applying any additional fees or charges. This means that your Algbra card will give you great exchange rates in any currency. Be sure to pack it on your next trip abroad! 

You can see the up to date Mastercard Exchange rates here, at any time.

If your Smartphone has been lost or stolen, please contact us immediately on +44 (0)808 258 4888.

If your Smartwatch or Ipad has been lost or stolen, please follow the steps below to freeze your card and protect your money.

1. Select the ‘Cards’ tab in the top left corner of the home screen.
2. Find your card and select ‘Freeze card’
3. Select ‘Report lost or stolen’

You can also freeze your card by contacting us through the in-app chat as soon as you notice that it’s missing. 

If you do not have access to the Algbra app, please contact us on +44 (0)808 258 4888.

If you think that someone else might be logged in to your account, the first thing to do is get in touch with us straight away, either by telephone Mon-Fri, 9am-5pm on +44 (0)808 258 4888, or via email to support@algbra.com or in-app chat outside of these hours. You should then change the password to your email account. 

If you can still access the app, we also ask that you freeze all of your cards. 

Please follow the steps detailed below to freeze all of your cards:

1. Select the ‘Cards’ tab in the top left corner of the home screen.
2. Select ‘Freeze card’ and do this for all cards, physical and virtual

When you get in touch, we’ll ask some security questions to verify that we’re speaking with you and no one else, and if contacting us via email or in-app chat, you’ll need to have a photo ID to hand (preferably the one you used to sign up). 

From there, we’ll take steps to secure your account and make sure that only you have access to it. If there has been any fraudulent activity, we’ll investigate this for you. 

It’s important that to prevent unauthorised access to your account, you never share your login email details. You should also ensure that the password to your email account is as strong as possible.

If you enter an incorrect PIN 3 times, your card will  automatically get blocked. This is for your own security. Please get in touch with us via the in-app chat if your PIN is blocked. 

If you’ve forgotten your PIN, you’ll need to change it. To change your PIN: 

1. Select the ‘Cards’ tab in the top left corner of the home screen.
2. Select ‘Security'
3. Select ‘Change PIN’ and follow the instructions.

To freeze your card: 

1. Select the ‘Cards’ tab in the top left corner of the home screen.
2. Find your card and select ‘Freeze card’

If you do not have access to the Algbra app, please contact us on +44 (0)808 258 4888.

Select the ‘Cards’ tab in the top left corner of the home screen.

1. Select ‘Security'
2. Select ‘Change PIN’ and follow the instructions

1. Select the ‘Cards’ tab in the top left corner of the home screen.
2. Select ‘Card details’ and it will then ask for Face ID or Touch ID before showing you your cardholder name, card number, expiry date and CVV.

1. When you receive your new Algbra card, you’ll see a separate card with a QR code and activation code.
2. Scan the QR code, then enter your activation code into the app when prompted. Your card is now activated!
3. Alternatively, if you can’t use the QR code, activate your card by entering your activation code into the cards section of the Algbra app.

If you’ve lost the activation code, just get in touch with our support team via the in-app chat and we’ll be able to activate it for you. To do this, we’ll just need to verify your identity, so please have the photo ID document which you used to sign up with to hand.

1. To add your Algbra card to Apple Pay, simply go to the card section in the Algbra app, select ‘Add to Apple Wallet’ and follow the  instructions.
2. When the Apple Wallet app asks for your ‘Security Code’, enter the CVV on the back of your Algbra card and enter your CVV. This is the 3-digit number beneath your expiry date.
3. If you can’t scan your card using your device’s camera, don’t worry, you can manually enter your card number, expiry date and CVV on the Apple Wallet app.

Protecting your data and privacy is important to us. We have very high security standards when it comes to our technology and who we work with.  Our Privacy Policy regarding your data can be summarised as follows: 

• We’ll never show your data to third parties or use it without your written permission
• Your usage data can’t be traced back to you, unless needed to prevent fraud

To use the Algbra app, we need to verify your identity in line with financial services regulations commonly referred to as ‘Know Your Customer’ (KYC) and Customer Due Diligence (CDD). This enables us to protect the integrity of Algbra’s community and provide a secure service for all of our customers.

As per regulations, Algbra is required to 'safeguard' all customer deposits and funds. 

We do this by holding the money you deposit or receive in a client money bank account, which we manage on your behalf. 

Your account holds e-money which is not covered by the Financial Services Compensation Scheme (FSCS). FSCS protection covers up to £85K of customer deposits with traditional banks that may lend or invest these funds. 

However, since Algbra doesn't lend or invest any deposits, we hold 100% of your money in safeguarded accounts, which can't be used for any purpose other than holding your funds (in line with our regulatory requirements). Safeguarding protects your money because if Algbra were to become insolvent, the money in these client accounts would be used to pay out to you (and other customers).

If you spot an unrecognised transaction on your account or if your card has been lost or stolen, it's important to freeze your card in the app immediately to protect your money.

We’ll need the details of the transaction, including the merchant, location, and date of payment, so we can investigate this further for you. 

A transaction could appear to be unrecognised for a few reasons: 

• The merchant has a different name on your statement from where the purchase was made.
• The transaction could relate to a recurring subscription that you signed up to.

If the transaction still isn’t recognised, please don’t worry, we’re here to help. Please reach out to us via the in-app chat as soon as possible. 

After investigation from our team, if the transactions are confirmed to be fraudulent, we will send you a new card and we will refund you for the unauthorised payments on your account.

Unable to get a refund from a merchant for a transaction made on your Algbra card for a goods or service? Good news, we can help!

Algbra card purchases are protected under the Mastercard Chargeback Scheme. - This means we can help with getting your money back from the merchant if they have been unwilling or unable to to cooperate. 

If you need our help raising a chargeback claim for you, please get in touch with us via the app. 

For more detail, read our chargebacks blog here.

As long as the transaction was made within 120 days, a Chargeback claim can be raised on a variety of issues relating to a goods or service transaction. These can include: 

• ATM did not dispense funds but you were still charged.
• Goods you ordered did not arrive.
• Goods you ordered arrived damaged or faulty.
• You’ve been charged more than expected on a transaction.
• You’ve been charged in the incorrect currency.
• You cancelled a subscription but you’ve still been charged.
• Merchant has not refunded you as promised.
• Merchant has gone into administration before goods or services were delivered.

If your situation doesn’t quite fit into one of these categories, please don’t worry, as you can get in touch with us via the app with your dispute details and one of our experts will be happy to help.

If you have been unable to resolve this with the merchant, please get in touch with us via the app. 

In order for us to help you most effectively and for your claim to be successful, we need as much information as you can provide. This can include: 

• A detailed description of the goods or service you ordered, including transaction date, merchant and amount.
• Evidence that what you received was damaged or not as described (such as a photo).
• Proof of purchase (ie a receipt or invoice).
• Evidence that you have tried to resolve it directly with the merchant.

You do not need to worry about the bottom two points for ATM Disputes. Our experts may be in touch to request further documentation to make sure we can build the strongest case for you.

The amount of time a refund takes to appear in your account will vary depending on the merchant. Usually, it takes up to 5 working days but we recommend asking the merchant to confirm the expected timeframe when they inform you that the refund is being processed. 

You’ll receive a notification as soon as it lands in your account. 

If it doesn’t arrive within the advised timeframe, it’s worth allowing an additional 1-2 days before getting back in touch with the merchant to request an update and confirmation that the refund has been successfully processed, along with the date and time of completion. 

With this information, please get in touch with our Support team via the in-app chat and share it with us there. We’ll be able to take a closer look and suggest any additional steps. If a refund has reached our side, we’ll be able to find it.

Card Purchases 

Purchases with some merchants will appear as ‘Pending’ in your transaction feed. This just means that their bank hasn’t completed processing it, but will usually do so within 7 days (this can take longer in some cases). If they haven’t done so by then, these funds will normally reappear in your account, particularly if the purchase was cancelled or if you expected it to decline. 

If you’re expecting the funds from this purchase to return to your account and they haven’t done so after seven days, please get in touch with the merchant to request more information and a timeframe within which to expect these funds. 

Bank Transfers 

If you’ve made an outbound transfer from your Algbra app that is still ‘Pending’, please get in touch with us via the in-app chat and we’ll be able to help.

If these funds haven’t reappeared in your account after 20 minutes, please allow up to 24 hours for this to occur. If you still don’t see them, please get in touch with our team via the in-app chat and we’ll take a closer look.

We currently offer card transactions, ATM withdrawals and Faster Payments. 

At the moment, we do not support International Payments, Direct Debit, Standing Order or CHAPS payments, but this is something we are looking to do in the future.

In the Algbra app, make sure you have sufficient  funds in your balance to make the payment. 

1. Head over to the ‘Transfers’ section in the Algbra app
2. At the top select ‘Send Money’
3. Here, you can send money to an Algbra friend, or an external bank account
4. If you select ‘Algbra friend’, choose the preferred contact and enter the amount to send
5. If selecting ‘Local bank transfer’, you can add a new bank contact (it will confirm if payee details are correct), or select an existing bank contact where funds have been sent to previously

If you come across any problems, please reach out to us via the app.

Faster Payments can sometimes take up to the end of the next working day to be received. 

Before reaching out to us, please ensure that you have checked the following: 

• The correct account details were entered when sending the payment
• If you know the recipient, speak with them to make sure it hasn’t been received by their bank

If this timescale has passed and you have checked these items, please reach out to us via the app so we can take a look for you.

If you know the person you have sent the funds to, speak to them as soon as possible to ask them to return the funds back to your account. If they do not respond to your requests, get in touch with us via the in-app chat and we can look into raising a Credit Payment Recovery request for you. 

If you do not know who the funds have gone to (incorrect sort code and/or account number) please get in touch with us as soon as possible via the in-app chat and we can look into raising a Credit Payment Request for you. 

Should we raise a Credit Payment Request on your behalf it can take up to 20 working days for funds to be returned and there is no guarantee that all, if any funds will be returned.

It is always good to be cautious and vigilant when sending a faster payment to a new payee or someone you don’t know. 

Always double check and question when you’re being asked to send payment to someone for the following: 

• When paying for goods on eBay or Instagram and told to send to a direct account and not PayPal.
• If you are contacted by your bank and told you need to move money to a separate account.
• If you’re being encouraged to pay for crypto trading ‘experts’ to put money in their, or your, trading account.

If it just doesn't feel right, stop. Do not send the payment and contact us via the app to discuss further. Please be aware, if the faster payment is sent across, there is no guarantee that we can recoup the funds for you.

Once a payment has been sent to the payee, it cannot be stopped. If an error was made with the payment please contact the person it was sent to and ask them to return it. If you are unable to contact the person who the funds have been sent to, please reach out to us via the app so we can go over this further.

Faster Payments are usually received within 2 hours but can take up to the end of the next working day in some cases. 

If you have not received it by this time, please reach out to the sender to confirm, so that they can trace the payment and contact their bank if necessary.

Whilst you can make a purchase abroad or online in a foreign currency, at the moment you are only able to send payments in Pounds Sterling (GBP). This is something we are looking to put in place in the future.

• Ethical Finance is about leveraging the power of finance to empower its customers and to create a more equitable and sustainable society.
• The way we spend, manage, and invest our money determines the society we live in. Ethical finance helps create a society that is empowered, fair and sustainable.
• Ethical finance is about providing top tier financial solutions that do more than simply ensuring financial returns.
• Ethical finance prioritises the wellbeing of customers, while benefitting society and the environment.

Several greenhouse gases contribute towards global warming. So, the term "CO2e" (carbon dioxide or equivalent) is used to refer to all of these gases. 

Your carbon footprint is the total amount of carbon dioxide or equivalent (CO2e) that is generated by your actions. 

In the Algbra app, your carbon footprint is expressed as the weight of CO2e emissions generated by your transactions.  For example, the carbon footprint of a bank transfer may be expressed as 0.00379 kgCO2e.

Having a carbon footprint is pretty much inevitable. Your daily activities, such as buying food, commuting to work or going to a yoga studio, are all likely to have a carbon footprint because emissions are produced either directly or indirectly in these activities.

We use a cloud-based impact service based on the Åland Index that calculates the CO2e footprint for all of your digital financial transactions. By combining data from the transaction, merchant, and business categories, this detailed algorithm provides you with a reliable estimate of the carbon footprint of every transaction.

It is not just large organisations that produce a lot of C02e emissions. Individuals around the world, especially those in wealthy countries, have a significant impact on the climate through their consumption habits. Studies have shown that household consumption is responsible for over 70% of greenhouse gas emissions. 

By understanding your CO2e footprint, you are empowered to make more informed decisions, helping you to have a better impact on the planet.

A reduction or removal of CO2e emissions in one part of the world in order to compensate for emissions made elsewhere. 

By aping carbon offsetting projects, such as the development of renewable energies and reforestation initiatives, we can ensure that less carbon will be produced in the future or that it is removed from the atmosphere entirely. 

Carbon offsetting helps our society decarbonise, an essential process to address the current excess of CO2e that exists and which we continue to produce.

To become a net-zero society and to effectively address the broader environmental and social challenges we face, it is not enough to only reduce CO2e emissions. We also have to support projects that avoid further CO2e from being emitted and that remove CO2e entirely.

When certain transactions cannot be avoided, we enable you to offset the remainder of your carbon footprint by supporting high quality carbon offsetting projects from around the world. 

We offer both carbon avoidance and carbon removal projects as well as technology-based and nature-based solutions to provide a holistic and accessible list of projects. These projects either ensure the avoidance of further CO2e emissions from being released in the future or remove CO2e entirely.

We offer a diverse portfolio of projects to ensure that we can cater for our members' diverse identities, values, and financial capacities. 

We prioritise projects in developing countries because they are disproportionately affected by climate change-related disasters despite contributing the least to them. 

We choose projects that contribute to a range of social and environmental goals, such as those outlined by the United Nations Sustainable Development Goals (UNSDGs), in addition to reducing or removing CO2e.

Carbon offsetting is not a fix-all solution to the climate crisis. 

To address the climate crisis, there are many important factors to take into account in addition to reducing CO2e, such as protecting and enhancing biodiversity. 

The most important way to address excessive CO2e emissions is to avoid the production of CO2e emissions in the first place. For example, rather than making a transaction and then offsetting its impact, it is better to avoid making the transaction in the first place or to source the product or service from a more sustainable merchant or second hand. 

Having a carbon footprint is sometimes simply unavoidable. This is because many of our purchases are necessary, while even the most sustainable products and services will still likely have a CO2e footprint. Carbon offsetting can be a great solution when you want to compensate for the impact of these inevitable transactions. 

In any case, contributing to projects that have a positive societal impact while offsetting CO2e emissions helps to create a more equitable, empowered and sustainable society.

At Algbra, we measure success by our ability to educate, engage and empower overlooked communities and enable them to take control of their finances. 

That’s why we established Algbra X – a social impact foundation dedicated to working with our communities to create innovative spaces that support grassroots initiatives and inspire meaningful engagement. 

Algbra X is a UK registered charity, Charity Number: 1197329. 

To learn more about our community work and see the impact we are making, visit Algbra X.