Last updated on 17 May 2023 (to reflect name change only).
Yaspa Corporate Account Terms & Conditions
These Terms & Conditions apply to your Yaspa Corporate account. Please read them carefully. You can download a copy of these Terms & Conditions at any time from within your online account, and they are contained within your signed documentation, which you can download.
The Yaspa Corporate account is an e-money service provided by Yaspa.
In these Terms & Conditions:
“Large Enterprise” means you if your company or other organisation on the date of account opening had more than 10 employees and an annual turnover of more than €2,000,000 (or sterling equivalent) or if you are a charity with an annual income of more than £1,000,000.
“Distributor” means Citizen UK Holding Limited (trading as "Yaspa") who may distribute the account to you on our behalf
“You” means the named account holder being the authorised user of the Yaspa Corporate account and any user you assign in the Yaspa portal.
“We”, “us” or “our” means SettleGo Solutions Limited or Yaspa acting on their behalf.
If you have any questions you can contact your Account Manger by:
A Yaspa Corporate account is an electronic money account from which you can make and receive payments. You can use your account to make transfers to other accounts.
You can only spend money that you have paid into your account, so before making transfers you need to make sure there are enough funds in the Yaspa Corporate account. Monies in the Yaspa Corporate account are not bank deposits and do not earn interest.
You must be an authorised owner, director or employee of a business based in the UK (or EU, selected territories) to be issued with a Yaspa Corporate business account. Eligible businesses include sole traders, partnerships and limited companies. You must provide an email address and mobile phone number to open an account so that we can communicate with you.
Before we can open an account for you, we will require evidence of your business, your director and beneficial owner’s identities and we may need evidence of addresses. You may need to provide us with documents such as certificate of incorporation, articles of association, ownership structure, passport, driving licence, national identity documents, utility bills, bank statements or other documents to confirm the existence of your company and verify the identity of beneficial owners. We may also need to carry out checks electronically.
Log into your online account (dashboard) using the username and password you set up your integration with. You should change these details when you first login.
By logging into your account, you are agreeing to these Terms & Conditions.
You can assign additional users in the Yaspa Corporate account portal. A user can be assigned as a read only user which limits them to only accessing the Yaspa Corporate account to view the information available. These users can also download statements. A user can also be assigned as a read and write user which enables full access to the facilities on the Yaspa Corporate account including the ability to make transactions.
You may pay into your account by transfer from a bank account, and any other method notified in your online account portal from time to time. The time taken to credit funds to your account will depend on the method of deposit used. You cannot pay into your account by a balance transfer from a credit card. You may only pay in funds up to your maximum account balance.
We reserve the right to refuse to accept any particular payment if we suspect any fraudulent activity or in the event of other exceptional circumstances.
As soon as we receive the funds that you have paid in, they will be on your account and ready to use. There may be occasions when we delay the funds reaching your account for up to three working days, this may happen when we need to confirm the transaction with the sending bank.
Where an overpayment has been made to your account in error, we reserve the right to debit the account with the excess amount to correct the payment transaction.
You can make the following transactions from your Yaspa Corporate account:
An account transaction is authorised by you when you access your online account using your personal security details and submit a transaction. You must ensure that you input the correct bank account details for any payment you request from your account.
A transaction is authorised by you when you access your Yaspa Corporate account using your personal security details and submit a faster payment or transfer request.
You may, in addition, be required to enter a one-time passcode or other security information including, if available and you opt for this type of identification, biometric information to authorise a transaction or make account amendments. One-time passcodes will be sent to the mobile phone number registered to your account.
As soon as a transaction is authorised, we will deduct the value of your transaction from the available balance on your account. Fees may be deducted at the time of authorisation.
Once we have received authorisation for a transaction, we will transfer funds to a bank or financial institution on the day we receive the authorisation or the day you requested the payment to be made for future dated transactions. A transaction will be received for faster payment transactions at the time you ask us to complete the transaction. Same day faster payments will ordinarily be available at the receiving account within two hours of being submitted.
Generally, authorisation for a transaction may not be withdrawn by you. However, you may be able to withdraw your authorisation where you have authorised a transaction which will take place on a future date. However, where a specific date is agreed, you may not revoke a payment order after the end of the business day preceding the agreed date.
You can check your account by accessing it securely through the Yaspa online account portal. Your statement will show:
This information is accessible at all times via your online account portal, is available free of charge, and can be stored and reproduced as necessary. Paper statements are available on request.
You may, in addition, be required to enter a one-time passcode or other security information including, if available and you opt for this type of identification, biometric information to access your account. One time passcodes will be sent to the mobile phone number registered to your account.
If you dispute a transaction you should contact us without undue delay and in any event within 13 months on becoming aware of any unauthorised or incorrectly executed payment transaction.
Unless you are a Large Enterprise, where you have informed us that an executed payment was not authorised by you in accordance with these Terms and Conditions , and you have taken all reasonable steps to keep safe personalised security information, keep your account secure, not disclosed your security information to anyone else and not acted fraudulently, we will:
Beyond this, we will have no further liability to you. Where payee details provided by you are incorrect, we are not liable for non-execution or defective execution of the payment transaction, but we will make reasonable efforts to recover the funds involved in the payment transaction and notify you of the outcome.
You may be entitled to claim a refund in relation to transactions where:
You must keep your account and security credentials safe and not let anyone else know or use them. You must keep your security information secret at all times and never disclose your security information to anyone. Security information includes your login and password details used to access your account or any other website where your account details are stored. We also recommend that you check the balance on your account regularly on your online account portal or by contacting your Account Manger.
If you suspect that someone else has found out your security information or accessed your account without your permission, you must tell us without undue delay by calling us or logging onto your account through the Yaspa portal and notifying us. Your account may be blocked.
If you ask us to do so, and provided that you provide information and assistance that we request from you, we will investigate any disputed transaction or misuse of your account.
If the investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence (for example by failing to keep your security information secure or by failing to notify us without delay on becoming aware of the loss, theft, misappropriation or unauthorised use of the account), then we will not refund the transaction amount and you will be fully liable for all losses incurred because of the unauthorised use of the account. .
If the investigations show that you have not acted fraudulently or with gross negligence, your maximum loss or liability to us for any unauthorised transaction will be limited to £35 and we will process a refund as soon as practicable, and in any event no later than the end of the business day following the day after we receive your notification. There is no maximum liability for Large Enterprises.
We may refuse to pay a transaction:
If we refuse a transaction, we will tell you why immediately, if we can, unless it would be unlawful for us to do so. You may correct any information we hold and which may have caused us to refuse a transaction by contacting your Account Manger.
You have a legal right to cancel your account up to 14 days from the date your account is opened without incurring any penalty. You can also cancel your account at any time after the 14 day period by contacting your Account Manger.
All fees and charges will be apportioned up until the time of the termination of the contract, and any fees and charges paid in advance will be reimbursed proportionally. You will not be entitled to a refund of money you have already spent on transactions authorised, or pending or any fees for use of the account before the account is cancelled.
We may cancel your account and this agreement by giving you at least two months’ notice. Reasons for cancellation may include:
If you are a Large Enterprise we may cancel your account and this agreement by giving less than two months’ notice.
We may also cancel your account immediately if we:
We may also deny access to your account where we consider it to be at risk of money laundering or terrorism financing, fraud or other criminal activity. Should we need to take these actions and where possible, we will give reasons for doing so except where restricted by law.
In these circumstances, you must tell us what you want us to do with any unused funds. You must do this within 3 months of the date we tell you that your account is cancelled.
You can clear the balance on your account by making transfers to other bank accounts.
Alternatively, you may request a refund of the funds on your account by contacting your Account Manger. We will transfer your funds back to you at no cost to you, unless:
We will not redeem the value of the funds on your account to you if your request for redemption of the funds is more than six years after the date of termination or expiry of this agreement.
All funds will be returned to a bank account of your choice. We reserve the right to see proof of your ownership of the bank account before transferring funds to it. To enable us to comply with our legal obligations, we may ask you to provide us with certain information such as identification documents before we can process your refund request.
Please also refer to section 22 below for the circumstances in which we do not give you a refund.
The account is an electronic money product and although it is a product regulated by the Financial Conduct Authority, it is not covered by the Financial Services Compensation Scheme. No other compensation scheme exists to cover losses claimed in connection with the account. We will however ensure that any funds received by you are held in a segregated account so that should we become insolvent your funds will be protected against claims made by our creditors.
If you are unhappy in any way with your account or the way it is managed, you can contact your Account Manger so we can investigate the circumstances for you. Any complaints you have will be dealt with quickly and fairly.
We will make every possible effort to address all points of complaint by email. Unless you are a Large Enterprise we will respond within 15 business days upon receiving the complaint. If a full response cannot be provided within these timeframes, we will send a holding reply with a full response to follow within 35 business days.
If we are unable to resolve your complaint to your satisfaction you may, unless you are a Large Enterprise, contact the Financial Ombudsman Service at Exchange Tower, London, E14 9SR. Telephone: +44 (0)800 023 4 567 from landlines, +44 (0)300 123 9 123 from mobile phones or +44 (0)20 7964 0500 for calls from outside the UK and e-mail: email@example.com.
You can change your address, telephone number, mobile number and e-mail address via your portal, any name changes require you to contact our customer support team and you will need to provide proof of the change of company name documentation. If we contact you in relation to your account we will use the most recent contact details you have provided to us. Any email or SMS text message sent to you will be treated as being received as soon as it is sent by us. We will not be liable to you if your contact details have changed and you have not told us.
We may change these Terms & Conditions by notifying you by e-mail or other agreed means at least two months before the change is due to happen unless you are a Large Enterprise where we may notify you of a change with less than two months’ notice. We will assume that you agree with the change. If you do not agree with the change you must tell us before the change happens and we will cancel your account immediately. If you cancel your account in this way then we will return any balance on the account to you and you will not be charged a Redemption Fee.
An up-to-date version of the account Terms & Conditions, as well as any notices of future changes will always be available via the website. You should check our website regularly for such notices and changes.
From time to time, your ability to use your account may be interrupted, e.g. when we carry out systems maintenance. If this happens, you may be unable (a) to make or receive payment transactions and/or (b) to obtain information about the funds available in your account and/or about your recent transactions.
If we incorrectly deduct funds from your account, we will refund them. If we subsequently establish that the refunded amount had in fact been correctly deducted, we may deduct it from your available balance. If you do not have sufficient available balance, you must repay us the amount immediately on demand.
If unauthorised transactions occur after you have notified us of the loss, theft, compromise or unauthorised use of your account, and you have not acted fraudulently or in breach of these Terms and Conditions, then we will be liable.
We will not be liable:
For the SMS services we offer, we are not responsible for lost, late or undelivered text messages, notifications or communications. We accept no responsibility for any technical, computer, online, telephone, cable, electronic, software, hardware, transmission, connection, internet, website or other access issue which may hinder your ability to access the SMS services.
Nothing in these Terms and Conditions shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.
We may charge you for any reasonable costs that we incur in taking action to stop you using your account and to recover any monies owed as a result of your activities if you:
In these circumstances we will not refund transactions and we reserve the right to charge you for any reasonable costs that we incur in taking action to stop you using your account and to recover any monies owed as a result of your activities.
If you have not been fraudulent, or grossly negligent, and have used your account in accordance with these Terms & Conditions, your maximum liability for any unauthorised transaction resulting from the use of a compromised account before you notify us will be £35. There is no maximum liability for Large Enterprises.
You may allow regulated Third Party Providers (“TPPs”) (including Account Information Service Providers (“AISPs”) and Payment Initiation Service Providers (“PISPs”)) access to your online account; either to make payments, obtain account balances or obtain information on previous transactions.
Before giving consent to a TPP, you should:
We may refuse to allow a TPP access to your account where we are concerned about fraudulent or unauthorised access.
We are not party to, or responsible for, any agreements between you and a TPP. Subject to any rights to refund you may have under these Terms and Conditions, we shall have no liability for:
You may not transfer or assign any rights or obligations you may have under these Terms & Conditions to any other person without our prior written consent. We may assign the benefit and burden of these Terms & Conditions to any other person at any time on giving you two months prior notice of this. If we do this, your rights will not be affected.
This Agreement is concluded in English. All communications with you will be in English. These Terms & Conditions will be construed in accordance with English law and the exclusive jurisdiction of the English courts.
Last updated: May 11th, 2021
1.1 The Services. We operate a proprietary Payment Platform that utilises PSD2 & Open Banking to initiate payments from a user’s bank account, with settlement of funds directly into your nominated bank account on a daily or weekly basis, at your option (the “Services”).
Prior to such settlement, we may hold the funds on your behalf of and for your exclusive benefit (or, where applicable, shall arrange for the funds to be held in such a manner) and we will keep (and where appropriate shall ensure that our agents and sub-contractors will keep) sufficient records of the funds in such a manner that the assets are appropriately distinguished with respect to applicable legislation regarding matters of bankruptcy and general insolvency.
Citizen is authorised by the Financial Conduct Authority (the “FCA”) under the Regulations for the provision of payment services (including the Services) with Firm Reference Number 826720.
2. USE OF THE PAYMENT PLATFORM AND THE SERVICES
2.1 Ownership and Use.
Citizen owns all rights, title and interest in the Payment Platform and our proprietary technology, including our software (in source and object forms), algorithms, user interface designs, architecture, and documentation (both printed and electronic), network designs, know-how, and trade secrets, and including any modifications, improvements, and derivative work thereof (the “Citizen Technology”).
It is your responsibility to ensure that the Payment Platform is only accessed by you or your Authorised Persons and that you, including your Authorised Persons, employees and agents, keep your login details, passwords, or other security features associated with your access safe and secure. If you have any knowledge or any suspicion that any of these security features have been stolen, misappropriated, improperly disclosed to a third party or used without authorisation or otherwise compromised you must contact Client Support provided in your SLA immediately.
2.3 Suspension of Access.
You must provide and/or obtain any equipment or telecommunications lines and links that may be necessary for you to use the Payment Platform, and you acknowledge that certain software and equipment used by you may not be capable of supporting certain features of the Payment Platform. For the avoidance of doubt, we are not responsible for providing you with any equipment or telecommunications lines and links that may be necessary for you to use the Payment Platform.
2.5 Principal Only.
You hereby (i) confirm, represent and warrant to us at all times that you are acting either on your own account or, where applicable, for the benefit of your End Customer, and not on behalf of any other person, and (ii) acknowledge that we shall not be a principal to any transaction or be responsible for or otherwise guarantee the performance of any transaction entered into by you with an End Customer.
2.6 End Customer Responsibilities.
We shall not treat End Customers as our client for the purposes of providing the Services. You are solely responsible and liable for all acts and omissions of End Customers including without limitation (i) all Know Your Customer ("KYC") and/or customer due diligence ("CDD") requirements relating to End Customers and the on-boarding of End Customers, (ii) all operational matters relating to End Customers including inputting any manual End Customer's payment details, chasing End Customers for payment details, any late arrival of funds, settlement with End Customers, (v) all sales, marketing and account management in relation to End Customers, and training End Customers on the use of the Platform Services.
3. DATA PROTECTION LEGISLATION
3.1 Personal Data.
By asking us to provide you with the Services, you will be providing us with information which includes Personal Data. In relation to such Personal Data, we shall act as: (i) a Data Controller in respect of our use of such Personal Data to (a) conduct KYC, CDD and other checks as part of our process of accepting you as a Client (as detailed in Section 7.1), (b) comply with any legal and/or regulatory requirements to which we are subject from time to time, including but not limited to FCA requirements, (c) determine how best to provide the Services and our risks in doing so, and (d) prevent fraud or financial crime.
We may conduct searches through an identity-referencing agency and through other sources of information and use scoring methods both to allow us to provide you with the Services and to assess our risks in doing so, including credit standing and compliance with all KYC/CDD requirements. A record of this process will be kept and may be used to allow our Group Companies to similarly provide you with services and to assess our risks in doing so. Information may also be passed to other organisations or persons to prevent fraud. Additionally, information may be passed to governmental, regulatory or judicial organisations to prevent fraud or financial crime where we consider it appropriate. The foregoing use of Personal Data may render us a Data Controller.
3.4 Data Lawfully Obtained.
3.5 Responsibility for Data.
You are solely responsible for the content, quality, accuracy and completeness of any Personal Data, any End Customer data, and any other data provided or transmitted by you or on your behalf via or in connection with the use of the Payment Platform and the Services.
3.6 Record Keeping.
Each party shall maintain records of all processing operations under its responsibility that contain at least the minimum information required by the Data Protection Legislation and shall make such information available to any DP Regulator on request.
3.7 Complaints, Notices or Communications.
If either party receives any complaint, notice or communication which relates directly or indirectly to the processing of Personal Data or to either party's compliance with the Data Protection Legislation, it shall as soon as reasonably practicable notify the other party and provide the other party with commercially reasonable co-operation and assistance in relation to any such complaint, notice or communication.
3.8 Independent Controllers
184.108.40.206 comply at all times with its responsibilities and obligations under the applicable Data Protection Legislation, more specifically as set out in art. 5 of the GDPR, including but not limited to fair and lawful processing, data retention and deletion and safeguarding data subjects’ rights, having appropriate regard to the related guidelines and guidance notes issued from time to time by the European Data Protection Board and all other relevant regulatory bodies;
220.127.116.11 co-operate with each other to set out the requirements to meet relevant obligations of Data Protection Legislation (for example in respect of data portability, subject access, lawful access requests and requests for rectification, amendment and disposal);
18.104.22.168 ensure that it has taken adequate security safeguards, including by implementing appropriate technical, physical and organizational safeguards, to ensure the confidentiality, integrity and availability of Personal Data.
3.8.2 In the event either party becomes aware of an actual or suspected breach to the security, confidentiality or integrity of the Personal Data of the other party when those data are being Processed both parties agree to notify the other affected party within 24 hours of identification of the breach and to consult with one another about such steps as may reasonably be necessary or appropriate to investigate, mitigate and remediate the breach and otherwise to discharge their respective obligations under applicable Data Protection Legislation.
4. FEES AND AMOUNTS TO BE PAID
All fees for the Services shall be as set out in the Commercial Agreement.
All Fees are stated exclusive of all taxes and similar fiscal charges now in force or enacted in the future, all of which you will be responsible for and must pay in full.
4.3 Default Interest, Suspension, and Reconnection.
4.4 Set Off.
You agree that we may set off any amount you owe us against any sums owed by us to you, provided we have given you 10 (ten) days prior written notice of such intention and document the amount to be deducted and the reasons for the same.
5. CLIENT HELP CENTRE AND SERVICE LEVELS
5.1 Payment Processing Compliance.
In accordance with the PSD2 Regulations communicated to you, Citizen will satisfy the maximum execution time for a payment, the charges payable by you in respect of a payment, the cut-off time for the payment system we use to transmit your payment, and (where applicable) will provide a breakdown of the amounts of any charges. In all cases, the maximum execution time to process payment instructions (as opposed to currency conversions) shall be five (5) Business Days. However, in many cases and where required by the Regulations, Citizen may process a payment much faster.
5.2 Telephone Conversations.
Any telephone conversations we have with you or Authorised Persons may be monitored and recorded by us and we may also maintain records of emails sent by or to you and your Authorised Persons. You agree that we may use these telephone recordings and any transcripts or email records for training and quality control purposes or to resolve any disputes, and also in the prevention and detection of crime. However, we may not make or maintain such recordings or records for you or be able to make them available to you.
5.3 Service Levels.
We shall use our best endeavours to ensure that the Payment Platform is available 99.9% of the time during each calendar month (“Availability”). Availability excludes unavailability due to scheduled maintenance or a force majeure event (described below in section 11.10). In any case, we will promptly inform you if the Services or the Payment Platform becomes unavailable.
5.4 Help Desk.
You may report incidents requiring our help by contacting Client Support by telephone or by sending an email which will be acknowledged by email or telephone during UK office hours within one (1) hour of the incident report. Reported incidents will be assigned to a Client Support representative, who shall coordinate support efforts with you through resolution of the reported problem. We will use all reasonable endeavours to resolve any incidents or problems relating to the Services as soon as is reasonably possible.
5.5 Limits on Support Services.
5.6 Scheduled Maintenance.
We may suspend access to the Payment Platform outside of UK Business Hours for no more than fifteen minutes to upgrade the Payment Platform. We will, to the extent practicable, provide you with advance notice of any other scheduled maintenance, including details of the expected Payment Platform downtime. Payment Platform downtime during scheduled maintenance carried out by us in accordance with this section shall not be counted as downtime for the purposes of Availability.
6. CONFIDENTIAL INFORMATION
7. OUR AGREEMENT WITH YOU
7.1 Our Acceptance of You as a Client.
7.2 Your Representations and Warranties.
7.3 Our Representations and Warranties.
8. RELIANCE ON INSTRUCTIONS
Citizen is authorised and entitled to rely upon, and act in accordance with, any instruction which may from time to time be, or purport to be, given by Authorised Persons. Citizen is entitled to treat any instruction as fully authorised by, and binding upon you, and entitled (but not bound) to take any steps in connection with, or in reliance upon that instruction which Citizen in its absolute discretion may consider appropriate, and notwithstanding any error or misunderstanding or lack of clarity in the terms of that instruction. If Citizen receives what it considers to be conflicting or ambiguous instructions from any Authorised Person, Citizen may, in its absolute discretion and without any liability on its part, decline to act whilst seeking clarification of that instruction, as Citizen in its discretion deems appropriate. For the avoidance of doubt, a payment instruction shall be regarded as having been authorised by you for the purposes of the Payment Services Regulations 2009 if an Authorised Person has given his/its consent.
9.1 Unauthorised or Incorrectly Executed Payments.
Under the Regulations you may be entitled to redress for any unauthorised or incorrectly executed payments. In the case of an executed payment not authorised by you or an Authorised Person, we will refund the amount of the unauthorised payment to you, and where applicable, restore the debited payment account to the state it would have been in had the unauthorised payment not taken place. If we fail to execute, or incorrectly execute, a payment, unless we can establish that the beneficiary’s payment service provider received the amount of the payment transaction, we will refund to you the amount of the non-executed or defective payment transaction promptly after becoming aware of the error, and, where applicable, restore the debited payment account to the state in which it would have been had the defective payment transaction not taken place. We will also refund to you any direct charges for which you are responsible and any interest which you must pay as a consequence of the non-execution or defective execution of the payment transaction. Beyond this, we have no further liability to you for any unauthorised or incorrectly executed payments.
9.2 Incorrect Information or Payee/Beneficiary Bank Failure.
We will not be liable to you for the nonexecution of a payment or for the defective execution of a payment if the information you provide is incorrect. We will not be liable for errors, mistakes, or non-performance arising from the payee/beneficiary bank if the payee/beneficiary bank fails to process the payment correctly. In either case, we will make reasonable efforts to recover the funds involved in the payment. You will be responsible for the costs incurred by us for any such recovery.
9.3 Our Negligence.
If a Loss is incurred due to our negligence or breach of contract, we will promptly attempt to correct the error. Subject to Section 9.5, we will be liable for any direct losses such as bank fees and interest incurred as a result of our negligence or breach of contract. In no circumstances will we be liable for any indirect, unforeseeable or incidental losses incurred, such as loss of opportunity.
9.5 Aggregate Liability.
For the avoidance of doubt, the foregoing limitation shall not limit our liability in respect of any obligation of ours to make a remittance, payment or settlement hereunder.
Subject to Section 9.4. (Non-Exclusion), in no event shall either party be liable to the other for any loss of data, loss of profits. or any special, incidental, indirect or consequential loss, howsoever arising.
9.6 Your Indemnities.
You agree to fully defend us on demand from and against any third-party claim (i) alleging that your actions in connection with your use of the Payment Platform or the Services violates any third party’s rights of privacy or violates any privacy laws; and (ii) arising from or relating to End Customer data. You will, in either case, indemnify us (and our directors, employees and officers) against all damages awarded against us or agreed to in a written settlement agreement signed by you arising out of such claim. We shall: (a) promptly notify you in writing of any such claim; (b) authorise you to control the defence and all related settlement negotiations; (c) provide you with the assistance and information reasonably necessary to defend and/or settle any such claim; (d) in no event jeopardise, settle or admit liability with respect to any such claim without your prior written consent, and (e) use reasonable endeavours to mitigate any such claim.
9.7 Our Indemnities.
10.2 Termination for Cause.
10.3 Additional Grounds for Termination.
10.4 Effect of Termination.
11.1 Relationship between the Parties.
11.2 Changes to the Payment Platform.
We reserve the right to modify and make changes to the Payment Platform at any time as we deem necessary to comply with Applicable Law and regulations or business needs, provided that such modification shall not in our reasonable opinion degrade or materially alter the functionality of the Payment Platform. Where possible, we shall notify you of such modification as soon as is reasonably practicable following our determining to make the modification.
11.4 Governing Law and Forum.
Subject to the following, we may with your prior written consent include your name, logo and contact information in directories of our service subscribers and other general promotional materials for the purpose of promoting the use of the Payment Platform generally. However, we shall immediately cease using your name, logo and contact information if you request us to do so. Neither party shall issue a press release relating to their business relationship without the written consent of the other party. Neither party may use the trademark or trade name of the other party without the written consent of such party.
11.6 Entire Agreement and Waiver.
11.10 Force Majeure.
11.11 Third Party Rights.
11.12 Notices and Communications.
If you feel that we have not met your expectations in the delivery of our services or if you think we have made a mistake, please let us know. We have internal procedures for handling complaints fairly and promptly in accordance with the FCA requirements. A copy of our complaints procedure is available upon request and on the Website. If you are not satisfied with the decision in our final response, you may be able to refer your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and the procedures involved, are available from the Financial Ombudsman Service, Exchange Tower London E14 9SR.
11.15 English Text Prevails.
Payments + Bank Account Linking
1. If the functionality is available, the Services may allow Client to link a bank account (the Linked Bank Account) to an Account. If Client chooses to do this, it will be redirected from the Services platform to the clients bank’s app or website where the Client will be informed by them of the information the Client agrees with them that they may share with Citizen (the Shared Banking Information). The Shared Banking Information will include, but is not necessarily limited to, the Client’s name, your bank account number and sort code and details of the Clients bank account transactions.
2. If the Client agrees to make the Shared Banking Information available to Citizen:
2.1 A representation of the Linked Bank Account will be shown in the Services Platform with the last 4 digits of the account number visible
2.2 Any new transactions made on the Linked Bank Account will be sent to and stored by Citizen
3. The Client may, at any time, revoke the Citizen access to the Linked Bank Account by using the Clients bank's app or website to remove Citizens’s permissions to access the Shared Banking Information. Such revocation of permission will not require Citizen to delete Shared Banking Information already held by Citizen.
4. The Clients bank (and not Citizen) is solely responsible for the provision, availability, security and all other aspects of the API that will be used by the Services to access the Linked Bank Account. Citizens use of such API will be subject to the terms and conditions issued by the Clients bank.
5. If the functionality is available, the Services may also allow the Client to initiate payments from its linked bank account directly to Citizen’s escrow account by way of payment initiation. Consent may be given in writing within the relevant section of the Citizen platform.
6. Citizen may use the OAuth Open Banking standard to authorise payment initiation consent. Citizen will not store the Client’s bank data at any time. Payment initiation requests are deemed to have been received as soon as this consent is given and consent cannot be revoked after this point.
7. Citizen will always require the Client’s consent for each individual payment initiation; at the time of writing the functionality is not available to authorise consent for multiple payments.
Authorised Persons: means the Client or any person (including any individual or entity) authorised by the Client to act on its behalf in the performance of any act, discretion or duty under this Agreement (including, for the avoidance of doubt, any officer or employee of such person) in a notice reasonably acceptable to Citizen.
AISP (“Account Information Services”): an Account Information Service Provider provides account information services as an online service to provide consolidated information on one or more payment accounts held by a payment service user with one or more payment service provider(s).
ASPSP (“Account Servicing Payment Service Provider”): Account Servicing Payment Service Providers provide and maintain a payment account for a payer as defined by the PSRs and, in the context of the Open Banking Ecosystem are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers’ account transaction data available to third party providers via their API end points.
“Applicable Law” means all applicable legislation, regulations and any and all directives, standards and/or guidelines of any applicable regulatory, governmental or other authority, settlement, card scheme or banking or payment network (including PCI Security Standards Council) relating to a party's obligations under and/or pursuant to these Terms. Citizen: means the Company and the Company Subsidiaries of Citizen UK Holding Limited.
Citizen Technology means Citizen’s proprietary technology, including our software (in source and object forms), algorithms, user interface designs, architecture, and documentation (both printed and electronic), network and software designs, know-how, and trade secrets, and including any modifications, improvements, and derivative work thereof.
Client: means you.
Confidential Information: means information in whatever form (including, without limitation, in written, oral, visual or electronic form or on any magnetic or optical disk or memory and wherever located) relating to the transactions processed hereunder, business, customers, products, affairs and finances of either party hereto and trade secrets including, without limitation, technical data and know-how relating to the business of either party or any of its suppliers, customers, agents, distributors, shareholders, management or business contacts.
Customer Data: means any customer data or other data or information collected by or on behalf of Citizen.
CDD (“Customer Due Diligence”): means any action required by Citizen to check the legal or financial status of its customers, for compliance with the FCA guidelines on payment processing or any other legal basis.
Data Controller: is a person, company, or other body that determines the purpose and means of personal data processing (this can be determined alone, or jointly with another person/company/body). For the official GDPR definition of “data controller”, please see Article 4.7 of the GDPR.
Data Processing Policy: the Data Processing Policy sets out how Citizen handles the Personal Data of our customers. End Customer: means any person using the Platform Services.
FCA (“Financial Conduct Authority”): means the regulator of the financial services industry in the UK.
KYC (“Know Your Customer”): means all documentation and other information about the Company and the Company Subsidiaries required under applicable “know your customer” and anti-money laundering rules and regulations.
Linked Bank Account: means the customer bank account connected via Citizen’s AISP services.
Open Banking: means the UK implementation of PSD2
Payment Initiation: means the process of initiating a payment request via Citizen’s PISP services.
Payment Platform: the technology solution deployed to provide payment services to the Client (including, for the avoidance of doubt, any button or web page required to direct the end user payment journey)
Payment Service Directive 2(“PSD2”): means the EBA payment service directive 2 (https://eba.europa.eu/regulation-and-policy/payment-services-and-electronic-money)
If you have any questions about these Terms, please contact us.
Daily Transfer Money Limit
Daily send money limit (P2P)
Daily receive money limit (P2P)
Maximum Account Balance