Legal

Updated May 19, 2022

PRIVACY POLICY

1. Introduction

This Privacy Policy (“Policy”) is an overview of how we collect, use and process of your data when you use our website www.stormpay.io (“website”) or when you register on our website, subscribe to our products and services, install and use our mobile app, provide us with feedback, enter your data or other details on registration page, participate in surveys or by communicating with us by phone, email or otherwise. Please read the Policy carefully as it becomes legally binding and we expect you to understand StormPay’s views and practices regarding the data and how StormPay will treat it.

We respect your privacy and take protection of your data very seriously and are committed to handling the data of those we engage with, whether customers, suppliers or colleagues responsibly and in a way that meets the legal requirements of the countries in which we operate.

2. Definitions

When used throughout the text of this Policy:

StormPay, us, we or our each means Paystorm Limited, a private limited company with registered address at Citypoint, 1 Ropemaker Street, London, EC2Y 9HT, United Kingdom;

you or your means each natural or legal person who interacts with us, uses our website or the products and services we provide;

personal data is the information that can be used to uniquely identify an individual;

non-personal data is information that will not allow a specific individual to be identified;

data denotes personal data and/or non-personal data;

distributor is StormPay, who distributes or redeems electronic money on behalf of principal;

principal is Safenetpay Service Company Ltd, a private limited company with registered address at Citypoint, 1 Ropemaker Street, London, EC2Y 9HT, United Kingdom, trading as Safenetpay.

3. About StormPay

We are performing our activities as a distributor of the principal, an authorised e-money institution regulated by the United Kingdom Financial Conduct Authority (“FCA”) under the Electronic Money Regulations 2011 and Payment Service Regulations 2017 for the issuing of electronic money and providing payment services. Safenetpay’s FCA reference number is 927601.

For the purposes of this Policy and the Data Protection Act 2018 StormPay is the data controller. StormPay is registered with the United Kingdom Information Commissioner’s Office under reference number ZA 778064.

If you have any questions about how we protect or use your data, please email us at support@stormpay.io

4. Data we collect about you

We currently collect and process the following data:

  • data which you give us (it may include your name, address, email address, phone number, date of birth, identity documents, username (or similar identifier), occupation and company information, recruitment data, social media, contact details, etc.);
  • data we collect about you when you communicate with us and when you use our products or services (it may include financial data, phone number used to call StormPay’s customer service number, etc.);
  • data on transactions (for example, payments into and out of your account), including the date, time, amount, currencies, exchange rate, beneficiary details, details of the merchant associated with the transaction, IP address of payer and payee, their name and registration information, messages sent or received with the payment, the payment method used;
  • data we collect about you if you use our website led to the automatically collection of the following information:
  • technical information, including the Internet protocol (IP) address used to connect the computer to the Internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform;
  • details of the transactions you carry out when using our products or services, including geographic location from which the transaction originates;
  • login information (if relevant);
  • information about the visit, including the full Uniform Resource Locators (URL), clickstream to, through and from website (including date and time);
  • products and services which are viewed or searched for, page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks, and mouse-overs), methods used to browse away from the page.
  • data from publicly available sources;
  • data from other sources:
  • the banks you use to transfer funds to us will provide us with your data;
  • business partners may provide us with your data;
  • advertising networks, analytics providers and search information providers may provide us with pseudonymised information about you, such as confirming how you found our website;
  • credit reference agencies do not provide us with any personal data about yourself, but we may use them to corroborate the information you have provided to us.
  • data from any individual (other than yourself) that receive payments from you during your use of our products and services, you promise that you have obtained consent from such individual to disclose his/her personal data to us, as well his/her consent to our collection, use and disclosure of such personal data, for the purposes set out in this Policy.

If you are a StormPay’s corporate customer, we will need to confirm your identity as part of our KYC process. We will ask you to provide documents, and will also collect information from third parties, such as commercial registers, for this purpose. Periodically, we may conduct a soft check of credit files which may leave small trace on them but will not affect the file itself.

StormPay also collects non-personal data or may anonymise personal data in order to make it non-personal data. StormPay may collect, store, use, transfer and disclose non-personal data for any purpose (for example, the use of aggregated transactional data for commercial purposes).

5. Risk assessment

We may make automated decisions by using technology that can evaluate your circumstances and other factors to predict and evaluate associated risks. We do this to comply with our regulatory obligations. Risk assessment also allows us to run our business efficiently and to ensure our decisions are informed and consistent. Where the automated assessment cannot be completed, we evaluate your data manually.

6. Cookies

We collect data about your use of our website from cookies and to distinguish you from other users, see how you use our site and products while providing you with the best experience. They also enable us to improve our products and services. For detailed information on cookies and other technologies we use and the purposes for which we use them, see our Cookie Policy.

7. Use of your data

We will use your data for the following purposes:

  • to enter into a contract with you or to carry out our contractual obligations we owe to you;
  • to pursue our legitimate interests in providing and marketing our products and services to you;
  • improving our website and interactions with you and other users of our products and services;
  • to comply with applicable legal and/or regulatory requirements;
  • to process your job application;
  • to send periodic emails regarding your StormPay account, our products and services and changes to them as well as the customer support services;
  • to improve our products and services, and to ensure that they are presented in the most effective manner;
  • to adhere to government regulations or guidance or to pursue any legitimate business interest;
  • to follow up with you after correspondence (live chat, email or phone enquiries);
  • to combine data we receive from other sources with the data you give to us. We may use such data or the combined data for the purposes set out above (depending on the types of data we receive).

If you wish to change how we use the data, please refer to section ‘Your rights’ below.

If you choose not to share your data with us, or refuse certain contact permissions, we might not be able to provide some services or products which are asked for.

8. Disclosure of data

We will share your data with the principal in order to provide you with the best products and services. The principal, in its turn, may use your data for the purposes envisaged in section ‘Use of your data’ above or disclose such data further pursuant to this section ‘Disclosure of data’.

We will not sell, trade, or otherwise transfer your data to third parties unless we provide you with an advance notice. This does not include website hosting partners and other parties who assist us in operating our website, conducting our business or serving our customers, so long as those parties agree to keep this data confidential or under regulatory obligation to protect your data.

We may further disclose your data to third parties:

  • affiliates, business partners, suppliers (suppliers who provide us with IT, payment and delivery services, our banking and financial services partners and payments networks, etc) and subcontractors for the performance and execution of any contract we enter into with them or you;
  • third parties that pay money into your StormPay account (this may be necessary to confirm that the payment has been made to the correct account, or, for example, to claim back a payment made to your account by mistake);
  • if we are under a duty to disclose or share your data in order to comply with any legal or regulatory obligation;
  • to assist us in conducting or co-operating in investigations of fraud or other illegal activity where we believe it is reasonable and appropriate to do so to check your identity, protect against fraud, keep to anti-money laundering regulations and confirm that you are eligible to use our products and services;
  • to prevent and detect fraud or other illegal activity;
  • where you ask us to share your data.

9. Retention period of data

The periods for which we retain your data are determined based on the nature and type of data, potential risk of harm from unauthorised use or disclosure of data, the purposes for which StormPay processes the data as well as any applicable legal or regulatory framework.

In general, once no longer needed for a legitimate business purpose or reason, your data will be deleted, or we may anonymise or aggregate it with other data to make it non-personal.

We will generally keep your data for at least 5 years after our business relationship with you ends or such period as may be required by applicable regulations.

10. Storing and transfer of data

We store your data on Amazon Web Services secure servers.

As we provide an international service, we may need to transfer your data outside the United Kingdom or European Economic Area (EEA) in order for us to provide our products and services.

For example, if you ask to make an international payment, we will send funds to banks outside of the United Kingdom or EEA. We might also send your data outside of the United Kingdom or EEA to keep to global legal and regulatory requirements, and to provide ongoing customer support services.

We may share your data with credit-reference agencies and fraud-prevention agencies that are based outside of the United Kingdom or EEA.

We will take all reasonable steps to make sure that your data is handled securely and in line with this Policy and applicable data protection regulations.

Please note that the transmission of data via the internet is not completely secure and we will do our best to protect your data, we cannot guarantee the security of your data transmitted to our website; any transmission is at your own risk.

Once we have received your data, we will use strict procedures and security features to try to prevent unauthorised access, loss or damage.

11. How do we protect your data

Our website is scanned on a regular basis for security breaches and known vulnerabilities in order to make your visit to StormPay’s website as safe as possible.

We use regular malware scanning for security breaches and known vulnerabilities in order to make your visit to our website as safe as possible.

The data is contained behind secured networks and is only accessible by a limited number of persons who have special access rights to such systems, and are required to keep the data confidential.

Communication over the internet between you and us is encrypted using strong asymmetric encryption. All data you supply is encrypted via Secure Socket Layer (SSL) technology.

We implement a variety of security measures when users place an order, enter, submit, or access their data to maintain the safety of their data. Our servers are updated in a timely manner.

We periodically conduct training on the significance of confidentiality and privacy of customer’s data.

12. Your rights

You have certain rights under the data protection legislation, including:

  • request copies of your data that we hold;
  • provide you with further details on the use we make of your data;
  • request that we correct data if it is inaccurate or that we complete data if it is incomplete;
  • object to our processing of your data in certain circumstances;
  • request to delete data in certain circumstances; and
  • request to provide your data to someone else.

Your exercise of these rights is subject to certain exemptions to safeguard the public interest (e.g. the prevention or detection of crime) and our interests (e.g. the maintenance of legal privilege). For example: we may not be able to agree to your request to delete data.

As a regulated financial services provider’s distributor, we must keep certain customer’s data even where you ask us to delete it. If you've closed your StormPay account, we may not be able to delete your entire file because these regulatory responsibilities take priority. We will let you know if we can't delete your data.

For security reasons, we can't deal with your request if we are not sure of your identity, so we may ask you for proof of your ID.

13. How will we keep you updated on how we use your data?

If we wish to change the way we process data or contemplate using data for a different purpose, we will update this Policy accordingly. If we wish to change the way we process your data that we already hold or contemplate using such data for a purpose which you have not agreed to, we will seek your separate consent.

14. Third-party links

Our website may, from time to time, contain links to and from the websites of the principal, our partner networks, advertisers and affiliates. If we indicate a link to any of these websites, please note that (1) these websites have their own privacy policies and we do not accept any responsibility or liability for these policies and (2) third-party products or services are not included for the purposes to offer them on our website.

15. Changes to our Privacy Policy

Any changes to the Policy will be posted on our website. Please check our website regularly to see any updates or changes to the Policy. If we change the way we use your data, we will update this Policy and, if appropriate, let you know through our website or other means.

16. Complaints

If you feel that we have not addressed your questions or concerns adequately, or you believe that your data protection or privacy rights have been infringed, you can contact us in the first instance through submission of your complaint to us in the first instance by contacting us through the following address, or email: Citypoint, 1 Ropemaker Street, London, EC2Y 9HT, United Kingdom. Email: support@stormpay.io

We verify the identity in order to process the request and may ask to provide valid identification documents to allow Safenetpay to do so.

You can also complain to the Information Commissioner’s Office (www.ico.org.uk) if you are unhappy with how we have used your data:

Address: Wycliffe House, Water Ln, Wilmslow SK9 5AF, United Kingdom

Helpline number: 0303 123 1113

1. INTRODUCTION

  • 1.1 By applying for an Account or otherwise requesting access to the Services you, being the Introduced Client, confirm that you (i) wish to enter into an agreement with us through Paystorm Limited (StormPay), our Distributor, and (ii) have read, understood and accept these Terms of Use and the Safenetpay Terms and Conditions.
  • 1.2 These Terms of Use, together with the Safenetpay Terms and Conditions, govern the Services that we agree to provide you with and constitute the entire agreement between us and you (collectively referred to as the “parties” and individually a “party”).
  • 1.3 Please read these Terms of Use and the Safenetpay Terms and Conditions carefully before you agree to use an Account or any other Services provided by or through us. If there is anything you do not understand, please contact Customer Services.
  • 1.4 By applying for an Account or otherwise requesting access to the Services the Introduced Client agrees to the Distributor providing all such information to Safenetpay who will check and verify the identity of the Introduced Client, its directors, beneficial owners and Authorised Users as required by law.
  • 1.5 The Introduced Client acknowledges that a Full Electoral Roll search may take place on the individuals noted in clause 1.4 above for anti-money laundering purposes.
  • 1.6 The Introduced Client acknowledges that a “soft footprint” search may be placed on the electronic files of the individuals noted in clause 1.4 above by the credit reference agencies and their personal details may be accessed by third parties for the specific purpose of anti-money laundering and countering the financing of terrorism, identity verification and fraud prevention.

2. DEFINITIONS AND INTERPRETATION

  • 2.1 When used in these Terms of Use these terms and abbreviations shall have the following meanings:
  • Account – the electronic money account, also known as Safenetpay Account, provided by us in accordance with these Terms of Use.
  • Account Information Service Provider – a third-party payment service provider who is authorised by or registered with the Regulator to provide online account information services, who, with your permission will be able to access certain online account information on one or more payment accounts held by you to give you a consolidated view of your payment accounts.
  • Account Limit – any limit that applies in relation to your Account, such as account maximum balance, and limits on receiving and sending payments from your Account as referred to in clause 5 (Accounts Limits).
  • Agreement – the agreement for your Account made up of these Terms of Use, together with the Safenetpay Terms and Conditions, which constitute the entire agreement between you and Safenetpay.
  • API (Application Programming Interface) – the interfaces provided by Safenetpay to the Introduced Client (and the Distributor on the Introduced Client’s behalf) to directly instruct Accounts via the Introduced Client’s or the Distributor’s own application.
  • Available Balance – the value of funds available on your Account.
  • Authorised User – the individuals nominated by the Introduced Client to be responsible for the management of the Account.
  • Business Days – Monday to Friday between the hours of 9 am - 5 pm but does not include bank holidays, or public holidays in the United Kingdom.
  • Card Scheme – Mastercard and/or Visa or such other payment network through which Card Transactions are processed as may be made available to you from time to time.
  • Confidential Information – any information (whether or not recorded in documentary form, or stored on any magnetic or optical disk or memory) relating to the business, products, affairs, strategy, contracts, customer relationships, commercial pipelines, business contacts, prospective customers, existing customers, business models, customer pricing, management systems, business methods, corporate plans, maturing new business opportunities, research and development projects, marketing and sales information, sales targets and statistics, discount structures, suppliers and potential suppliers, source codes, computer programs inventions, know-how, technical specifications and other technical information relating to products and services.
  • Customer Services – the Distributor’s contact centre for dealing with queries about your Account.
  • Data Protection Laws – the following, to the extent they are applicable to a party: the Data Protection Act 2018, the General Data Protection Regulation (EU) 2016/679, the Electronic Communications Data Protection Directive 2002/58/EC, the Privacy and Electronic Communications (EC Directive) Regulations 2003 and all applicable laws and regulations relating to processing of personal data and privacy (as amended or replaced from time to time), including where applicable the guidance and codes of practice issued by the Information Commissioner (in the United Kingdom) or other applicable supervisory authority;
  • Direct Debit – a payment collected via the UK Direct Debit scheme operated by BACS from or to your Account.
  • Direct Debit Collection – a payment collected to your Account via the UK Direct Debit scheme on the basis of an instruction given by you to the payer’s payment service provider.
  • Direct Debit Guarantee – the refund terms applicable to Direct Debit Mandates as set out on the direct debit form or direct debit confirmation provided to you by the payment recipient.
  • Direct Debit Mandate – a payment collected from your Account via the UK Direct Debit scheme on the basis of a mandate permitting someone else (recipient) to instruct us to transfer money from your Account to that recipient.
  • Distributor – Paystorm Limited, a company registered in England and Wales under company number 12486589, who is permitted by Safenetpay to introduce and act on behalf of Introduced Clients, and permitted by you to act as an Authorised User.
  • Due Diligence Procedure – Safenetpay’s procedures for carrying out due diligence on Introduced Clients in order to comply with its policies and regulatory obligations.
  • Fees – those fees payable by the Introduced Client for using Services.
  • Information – any information related to an organisation.
  • Intellectual Property Rights – without limitation, all patents (including models and inventions), trademarks, service marks, trade names, domain names, business names, copyrights, design rights, database rights, rights to or in computer software, know-how, trade secrets, rights to or in the Confidential Information and all other intellectual property rights and rights or forms of protection of a similar nature or effect which may subsist anywhere in the world whether or not registered or capable of registration, together with all applications for registration of, and any licence to use, any of the foregoing and “Intellectual Property” shall be construed accordingly;
  • Merchant - a merchant authorised to accept Card Scheme-branded Cards.
  • Safenetpay Terms and Conditions – terms and conditions of Safenetpay, available at https://www.safenetpay.com/terms-and-conditions..
  • Services – those services and products, including but not limited to the Account, that may be made available to the Introduced Clients from time to time.
  • Terms of Use – the terms on which Safenetpay provides Services to the Introduced Client.
  • TPP (Third Party Provider) – an Account Information Service Provider or a Payment Initiation Service Provider.
  • Transaction – any debit, credit or other adjustments to an Account that affects the balance of monies held in it.
  • One-Time Passcode – the six-digit passcode sent to your mobile phone number by us, via SMS.
  • Online Portal – the customer portal that the Introduced Clients can log in to in order to use the Services.
  • Payment Initiation Service Provider – a third-party payment service provider authorised by or registered with by the Regulator to provide an online service to initiate a transaction at your request on your Account.
  • Regulator – the Financial Conduct Authority, located at 12 Endeavour Square, London, E20 1JN or any authority, body or person having, or who has had, responsibility for the supervision or regulation of any regulated activities or other financial services in the United Kingdom.
  • we, us, our or Safenetpay – Safenetpay Services Company Ltd, a company registered in England and Wales with number 10259575 and whose registered office is at Citypoint, 1 Ropemaker Street, London, EC2Y 9HT, United Kingdom, and who is authorised by the Regulator to issue electronic money and provide payment services under the firm reference number 927601, or affiliates of Safenetpay acting on Safenetpay’s behalf.
  • you, your or Introduced Client – any client of Safenetpay which has been introduced by the Distributor and whose account is operated by the Distributor-based on instructions the Distributor receives from the Introduced Client (where relevant).
  • 2.2 In these Terms of Use:
  • 2.2.1 a reference to a clause is a reference to a clause in these Terms of Use;
  • 2.2.2 headings are for reference only and shall not affect the interpretation of these Terms of Use;
  • 2.2.3 the singular shall include the plural and vice versa;
  • 2.2.4 a reference to a person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality) and that person’s personal representatives, successors and permitted assigns;
  • 2.2.5 a reference to a party shall include its personal representatives, successors and permitted assigns; and
  • 2.2.6 reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time.
  • 2.3 The parties agree that to the extent there is any inconsistency between the Terms of Business and the Safenetpay Terms and Conditions, the latter shall prevail over the Terms of Business.

3. SCOPE OF THESE TERMS OF USE

  • 3.1 Services are made up of the Account that allows operation including the making of Transactions in accordance with the Agreement. The Account is an electronic money account and the electronic money is issued to you by us. Your Account will be opened on your behalf by the Distributor. You may only hold an Account so long as you remain an approved client of the Distributor that provided you with your account details. Your rights and obligations relating to the use of this Account are subject to the Agreement. The Services also consist of:
  • 3.1.1 the API used by the Distributor on the Introduced Client’s behalf to create and administer the Accounts plus the beneficiaries and payment rules applied to them; and
  • 3.1.2 the Online Portal which can be used for the management of Accounts. The Distributor will provide access to this if appropriate based on your relationship with them.
  • 3.2 The terms of the Safenetpay Terms and Conditions applicable to specific Transactions or payment types apply only to the extent that such Transactions or payment types are enabled for your Account.
  • 3.3 This Agreement is written and available only in English and we undertake to communicate with you in English regarding any aspect of your Account.
  • 3.4 You agree that we or the Distributor may communicate with you by e-mail or telephone for issuing any notices or information about your Account and therefore it is important that you ensure you keep your e-mail address and mobile phone number updated.

4. USING THE ACCOUNT

  • 4.1 Your Account can receive bank transfers and other payment types as added and notified to you by Safenetpay from time to time. Subject to clause 4.3, we will credit your Account when we receive the funds which could be up to three (3) Business Days after the payment being instructed, depending on how the payment was sent.
  • 4.2 Your Account can also receive internal transfers from other Accounts owned or controlled by the Distributor, which apply instantly.
  • 4.3 An incoming payment will not be credited to your Account if:
    • 4.3.1 the Account has reached the Account Limits; or
    • 4.3.2 the Account is inactive or blocked or terminated; or
    • 4.3.3 the sender has provided incorrect/invalid Account Details for your Account; or
    • 4.3.4 we suspect the payment to be fraudulent.
  • 4.4 If we are unable to credit your Account for any of the reasons in clause 4.3 then the funds may be sent back to the sender without a prior notification to you.
  • 4.5 Your Account can make payments out to external bank accounts via Faster Payments, SEPA and other methods as added and notified to you by the Distributor from time to time.
  • 4.6 Your Account will be configured and operated by the Distributor. You agree that Safenetpay and we may take instructions from the Distributor regarding the operation of your Account, including the creation of beneficiaries and instruction of payments, on your behalf. We and Safenetpay have no liability for actions taken by the Distributor. If you disagree with any actions taken by the Distributor these should be discussed with the Distributor. We are also authorised to take instructions from any other Authorised User (where different from the Distributor). You are responsible for all actions of the Authorised User in relation to the Account.
  • 4.7 A Transaction is deemed to be authorised by you:
    • 4.7.1 when you or your Authorised User or Distributor enters the security information on the Online Portal to confirm a Transaction is authorised, or when it is instructed via the Safenetpay API with the relevant security credentials;
    • 4.7.2 when you give instructions through a third party (such as the recipient of a Direct Debit Mandate or a Payment Initiation Service Provider)
    • Once the Transaction is confirmed, we cannot revoke (cancel) the Transaction save for in those circumstances set out in clause 4.8 below.
  • 4.8 You can revoke (cancel) any Transaction which is agreed to take place on a date later than the date you authorised it, provided that you give us notice to revoke (cancel) no later than close of business on the Business Day before the Transaction was due to take place.
  • 4.9 Revoking (cancelling) a Direct Debit Mandate with us will not terminate the agreement with the organisation you are paying. It is your responsibility to tell the organisation collecting the payment about the changes to your instructions.
  • 4.10 If for any reason whatsoever, a negative balance arises because a Transaction is completed when there are not enough funds on your Account for that Transaction, you shall reimburse the negative balance amount immediately, unless circumstances described in clause 4.11 apply. You agree that once we make this negative balance known to you, we will charge you the amount of the negative balance and you must repay it immediately. We may charge the amount of the negative balance against any funds on your Account, including any subsequently loaded funds. Until we are reimbursed this negative balance amount, we may arrange for your Account. We may also report the negative balance to credit reference agencies.
  • 4.11 Where a negative balance arises because of an error on the part of the recipient of the payment or us, we will seek to recover the negative balance amount from the person who made the error.
  • 4.12 The Available Balance on your Account will not earn any interest.
  • 4.13 You can check the balance and Transaction history of your Account at any time via the Online Portal if you have relevant access details.
  • 4.14 You will be provided with a monthly statement free of charge setting out information relating to individual payment Transactions by the Distributor.

5. ACCOUNT LIMITS

  • 5.1 Limits may apply to the balance on your Account at any time, the maximum value of an individual payment Transaction, the maximum aggregate value of all payment Transactions made from your Account in a particular time period e.g. during any one (1) Business Day and the maximum number of payment Transactions made from your Account over a particular timeframe.
  • 5.2 The limits and restrictions that apply to your Account will be communicated to you during the Account set-up process. These limits may also change over time based on your Account usage; any such change will be communicated to you. You can check the limits at any time by contacting Customer Services. You should not make a payment Transaction request which exceeds such.
  • 5.3 To manage our risk, particularly with respect to money laundering, fraud or security concerns, we also apply internal controls, including limits, to certain types of payment. We change these as necessary but for security purposes, we do not disclose them.

6. THIRD-PARTY ACCESS

  • 6.1 You can instruct a TPP to access information on your Account or initiate certain Transactions from your Account provided such TPP has identified itself to us and it has acted in accordance with the relevant regulatory requirements. We will treat any instruction from an TPP as if it was from you or an Authorised User.
  • 6.2 We may deny a TPP access to your Account if we are concerned about unauthorised or fraudulent access by that TPP. setting out the reason for such denial. Before doing so, we will tell you that we intend to deny access and give our reasons for doing so, unless it is not reasonably practicable, in which case we will immediately inform you afterwards. In either case, we will tell you in the manner in which we consider most appropriate in the circumstances. We will not tell you if doing so would compromise our security measures or would otherwise be unlawful.
  • 6.3 If you have provided consent to a TPP to access the data in your Account to enable them to provide account information services to you or initiate Transactions on your behalf, you consent to us sharing your information with the TPP as is reasonably required for them to provide their services to you. You must let us know if you withdraw this permission and we recommend you let the TPP know. On notification from you, we will not provide such TPP access to your Account or the data in it.

7. CLOSING YOUR ACCOUNT

  • 7.1 You may close your Account by contacting Customer Services.
  • 7.2 The Account will be closed if the Distributor instructs us to close your Account (in which case the Distributor will inform you of this instruction).
  • 7.3 On termination of the Agreement for any reason, these Terms of Use will automatically terminate, and your Account will be closed.
  • 7.4 Any Available Balance remaining on the Account after Account closure will be transferred to your nominated bank account via Faster Payments or SEPA (as relevant) based on instructions to us from the Distributor. If for any reason this is not possible, such Available Balance will remain yours for a period of six (6) years from the date of Account closure. Within this period, you may at any time request a refund by contacting Customer Services. You will not have any access to your Account and we will not return any funds remaining on the Account after six (6) years from the date of Account closure and this Agreement will terminate.

8. YOUR LIABILITY AND AUTHORISATIONS

  • 8.1 You are responsible for understanding and complying with the Agreement including these Terms of Use.
  • 8.2 We may at any time suspend, restrict or refuse to authorise any use of your Account or refuse to process your instructions or authorise any particular Transaction where:
    • 8.2.1 we are concerned about the security of or access to your Account;‎
    • 8.2.2 we know or suspect that your Account is being used in an unauthorised or fraudulent manner;
    • 8.2.3 we need to do so in order to comply with the law or otherwise for regulatory or crime prevention purposes;
    • 8.2.4 the Transaction would breach the limits applicable to your Account;
    • 8.2.5 you, the Authorised User breach an important part of these Terms of Use, or repeatedly breach any term in this Agreement and fail to resolve the matter in a timely manner.
  • 8.3 If we cancel, suspend or restrict your Account, or otherwise refuse to execute a payment order to or to initiate a Transaction, we will, without undue delay and provided we are legally permitted to do so, notify you or the Distributor of the refusal, suspension or cancellation (as applicable). If possible, we will provide the reasons for the refusal to execute the Transaction and/or suspending the use of your Account and where those reasons relate to factual matters, the procedure of rectifying any factual errors that led to the refusal.
  • 8.4 You or the Authorised User must not:
    • 8.4.1 allow another person to use security information related to the Account,
    • 8.4.2 write down password(s) or any security information unless this is done in a way that would make it impossible for anyone else to recognise any of that information, or
    • 8.4.3 disclose passwords or any security information or otherwise make them available to any other person, whether verbally or by entering them in a way that allows them to be observed by others.
  • 8.5 You must take all reasonable steps to always keep your Account and password(s) and any other security-related details safe at all times. If you visit a website or receive a message that asks for your password, other than the Safenetpay website, this should be reported to us. If you are in doubt whether a website is genuine, you should contact Customer Services. If you have any indication that your Account, password or other security information has been compromised, you must immediately change your password and notify us as soon as possible.
  • 8.6 You will be liable for all Transactions that take place as a result of you, the Authorised User acting fraudulently or failing to comply with these Terms of Use with intent or gross negligence. Any such Transactions and any fees and charges relating to such Transactions will be deducted from the Available Balance on your Account.
  • 8.7 You will be liable for all Transactions that the Distributor, any other Authorised User makes on your behalf makes as per this Agreement, along with those made by a TPP authorised by you to initiate a Transaction.
  • 8.8 You will be liable for all unauthorised Transactions that arise from the use of lost or stolen Account security information such as but not limited to the Online Portal log in details and API security details, if you, the Authorised User, fail to keep the security features of the Account safe.
  • 8.9 It is your responsibility to keep us updated on changes to your Information, including e-mail address and mobile numbers. Failure to do so may result in us being unable to contact you regarding your Account or to let you know about changes to these Terms of Use.
  • 8.10 If you request to recall a Transaction due to an error or mistake caused other than by Safenetpay, we reserve the right to charge you (i) a handling fee of £100 per recall and (ii) any fee payable by Safenetpay to a third-party bank or institution for handling the recall.
  • 8.11 You agree to indemnify and hold harmless, us, Safenetpay and our distributors, partners, agents, sponsors, and service providers and their group companies from and against the costs of any legal action taken to enforce this Agreement, including these Terms of Use and/or any breach of these Terms of Use by you.

9. DISPUTES AND INCORRECT TRANSACTIONS

  • 9.1 If you (or an Authorised User) have a reason to believe that (i) a Transaction on your Account was unauthorised or was made incorrectly, or (ii) someone else (other than TPP) knows the security credentials or otherwise has ‎unauthorised access to your Account, you must inform us immediately by contacting Customer Services. After you notify us, we will replace a lost, stolen or misappropriated security credentials, as appropriate.
  • 9.2 We will investigate your claim for a refund of unauthorised or incorrectly executed Transactions, provided at all times that you have notified us without undue delay of becoming aware of such incorrectly executed or unauthorised Transaction and in any case within thirteen (13) months of the date of the relevant Transaction. We will not be liable for any unauthorised or incorrectly executed Transactions notified to us after this period.
  • 9.3 If you dispute a Transaction:
    • 9.3.1 subject to clauses 9.3.2 and 9.3.3 we will immediately refund the amount to your Account to the position it would have been in if the unauthorised Transaction had not taken place. We will have no further liability to you. If we subsequently discover that you were not entitled to a refund, we shall treat the refund as a mistake and be entitled to re-execute the Transaction.
    • 9.3.2 if there are reasonable grounds for thinking that you may not be entitled to a refund (based on the evidence available to us at the time you report the unauthorised Transaction), we may investigate before giving you a refund and we will provide you with our supporting evidence if we believe you are not entitled to the refund;
    • 9.3.3 if the Transaction was initiated through a TPP, it is for the TPP to prove that the Transaction was authenticated, accurately recorded and not affected by a technical breakdown or other deficiency linked to the TPP’s payment initiation service; and
    • 9.3.4 if we make an error on a Transaction made to someone else through the Direct Debit scheme, we will refund you in accordance with the Direct Debit Guarantee.
  • 9.4. If an incorrect Transaction is paid into your Account that should not have, we will, where possible, immediately send the funds back to the bank acting for the person from whose account the Transaction was made. In such circumstance, you agree to return the funds to us and provide such assistance that we require in recovering the amount from you. If we cannot recover the funds, we are required to provide sufficient details about you and the incorrect payment to the bank or institution that sent the payment to enable them to recover the funds.
  • 9.5 You will be liable for all Transactions made from your Account if you (or the Authorised User) have acted fraudulently or have failed with gross negligence:
    • 9.5.1 to keep the security credentials used to access or use your Account safe and secure or otherwise failed to comply with these Terms of Use in relation to the safety of your Account; or
    • 9.5.2 failed to notify us in accordance with clause 9.1 above.
  • 9.6 You may be entitled to a refund where a Transaction from your account which was initiated by the payee provided that:
  • 9.6.1 the authorisation did not specify the exact amount;
  • 9.6.2 the amount of Transaction exceeded the amount you could reasonably have expected (taking into your previous spending pattern and other relevant circumstances). We may ask you to provide such information as is reasonably necessary for us to determine if this is correct; and
  • 9.6.3 you asked for a refund within eight (8) weeks of the date the Transaction was debited to your Account.

    In such circumstances we will refund you within ten (10) Business Days of receiving your claim for a refund or, where applicable, within ten (10) Business Days of receiving any further information we requested – or we will provide you with reasons for refusing the refund.
  • 9.7 If you want a refund for a Transaction made using the Direct Debit scheme, the Direct Debit Guarantee will apply instead of the terms in clause 9.6 above.

10. COMPLAINTS PROCEDURE

  • 10.1 Complaints regarding any element of the service provided by us can be sent to Customer Services.
  • 10.2 All complaints will be subject to our complaints procedure. We will provide you with a copy of our complaints procedure upon request.
  • 10.3 In most cases we will provide a full response by email to your complaint within fifteen (15) Business Days after the date we receive your complaint. In exceptional circumstances where we are unable to respond in full to your complaint, we will inform you of this giving our reasons for the delay and the timeframe within which you will receive a full reply, which in any event shall be within thirty-five (35) Business Days of the date we received your complaint.
  • 10.4 If the Distributor fails to resolve your complaint to your satisfaction you may refer your complaint directly to Safenetpay. You may be further entitled to refer your complaint to the Financial Ombudsman Service (Exchange Tower, London E14 9SR, phone 0800 023 4567). Details of the service offered by the Financial Ombudsman Service are available at www.financial-ombudsman.org.uk.

11. FEES

  • 11.1 The table with the Fees will be sent to you together with the confirmation of opening your Account and might be also accessible through the Online Platform.
  • 11.2 The Fees are subject to change at Safenetpay’s sole discretion. You agree to pay all Fees and your continued use of the Services indicates your acceptance of the Fees, including any changes that we may introduce to the Fees from time to time. We will send any updated Fees to your registered email, update the Fees section of the Online Portal or post a message through your Account. If you are unclear as to any applicable Fees, you should contact Customer Services.
  • 11.3 Your transactions may be subject to currency conversions. If you make a transfer from your Account denominated in one currency to an account in a different currency, then there may be a fee for the conversion into the destination currency.

    You may be charged a currency conversion fee as a percentage of the transaction or as a fixed amount, as applicable and as specified in the Fees.
  • 11.4 The Fees payable by you will be deducted from your Available Balance and you hereby authorise us to so deduct such Fees. Transaction fees will be charged when the transaction is executed. Monthly fees will be charged at the beginning of applicable calendar month. The Fees are non-refundable. If your Available Balance is insufficient to cover the Fees and Commissions, we may refuse to execute the payment. Reversal or chargeback fees will be deducted when incurred.

12. SERVICES

  • 12.1 The applicable Services will be accessible to the Introduced Client through the Online Portal.
  • 12.2 The Account are provided by Safenetpay to the Introduced Client in accordance with the Safenetpay Terms and Conditions. Services provided to the Introduced Client under this Agreement are for the sole use by the Introduced Client.
  • 12.3 The Introduced Client can use the Account to make Transactions on the terms and conditions set out in the Safenetpay Terms and Conditions.
  • 12.5 From time-to-time Safenetpay may carry out additional checks on the Introduced Client, including the identity of its directors, beneficial owners and the nature of its business in accordance with its Due Diligence Procedure and as required by law. Safenetpay may contact the Introduced Client or the Distributor (as applicable) for such purposes. The Introduced Client agrees to provide such information as necessary.
  • 12.6 The Introduced Client shall comply with all legislation and regulation as it applies to the Introduced Client. Any failure to comply with relevant legislation or regulation shall be considered a material breach of the Agreement and may result in Safenetpay discontinuing the provision of the Services as set out in clause 16.3.
  • 12.7 The Introduced Client shall implement as appropriate Safenetpay’s reasonable security recommendations it notifies to the Introduced Client from time to time.

13. AUTHORISED USERS

  • 13.1 Access to the Services is restricted to individuals that have been designated by the Introduced Client as Authorised Users.
  • 13.2 The Introduced Client must notify Safenetpay of all individuals it wishes to be an Authorised User.
  • 13.3 Each Authorised User is permitted to access and use the Services in accordance with these Terms of Use.
  • 13.4 The Introduced Client will be responsible for training its Authorised Users in the appropriate use of Services.
  • 13.5 The Introduced Client shall ensure its Authorised Users:
    • 13.5.1 take all reasonable care to ensure Safenetpay Product access credentials, including login details to the Online Portal, where applicable, are kept confidential to each Authorised User; and
    • 13.5.2 do not share any information that would enable another party to access the Introduced Client’s Account.
  • 13.6 The Introduced Client acknowledges and agrees that each Authorised User is authorised by the Introduced Client to act on its behalf. Safenetpay shall deem any instruction given by an Authorised User is an instruction given by the Introduced Client.
  • 13.7 The Introduced Client will be responsible for timely notification to Safenetpay of any revocation of Authorised User access and will be liable for Transactions made, Fees incurred and use of Services by an Authorised User until Safenetpay has had one (1) full Business Day to act on any received notice. This clause shall not apply to Introduced Clients accessing Services via the Distributor.
  • 13.8 Where the Introduced Client accesses Services through the Distributor, the Distributor will be considered the Authorised User. In this instance if additional Authorised Users are required they must be requested by the Distributor. The use of the Distributor to access the Services by the Introduced Client are set out in further detail below.

14. ACCESSING SERVICES THROUGH THE DISTRIBUTOR

  • 14.1 In the event the Introduced Client utilizes the Distributor to access Services, the Introduced Client agrees and authorises the Distributor to instruct Safenetpay to access and use the Services on behalf of the Introduced Client, which shall include but not be limited to making Transactions, viewing and retrieving Transaction data, initiating refunds and closing the Account.
  • 14.2 The Introduced Client acknowledges and agrees that Safenetpay shall have no liability whatsoever with respect to the performance, availability or quality of the Distributor.
  • 14.3 The Introduced Client acknowledges and agrees to the following:
    • 14.3.1 it must satisfy itself that its Platform Partner Agreement grants the Distributor all permission necessary to operate the Account on the Introduced Client’s behalf;
    • 14.3.2 the Platform Partner will be granted full access to operate the Introduced Client’s Account as an Authorised User of the Introduced Client;
    • 14.3.3 it is responsible for monitoring the Distributor activities on its Account. Any queries relating to such activities will be raised with the Distributor directly and settled between the Distributor and the Introduced Client;
    • 14.3.4 the Introduced Client has no recourse against Safenetpay for any act or omission of the Distributor with respect to its Account;
    • 14.3.5 the Introduced Client understands it can only access its Account to make Transactions, review Transactions made or otherwise use Services through the service provided by the Distributor; and
    • 14.3.6 it will only use the Account for the purposes declared to the Distributor and in the manner set out in the Agreement.
  • 14.4 On receipt of notification by Safenetpay from the Distributor that it wishes to terminate this Agreement, this Agreement shall terminate. Any funds in the Introduced Client’s Account will be returned in accordance with the terms of the Safenetpay Terms and Conditions.
  • 14.5 If the Introduced Client has any complaint or concern relating to the Account or other Services, such complaint or concern shall be raised directly to the Distributor , who shall deal with it in accordance with Safenetpay’s Complaints Policy, a copy of which is available on request from the Distributor and on the Online Portal.

15. CUSTOMER SERVICES

  • 15.1 The Introduced Client can contact Customer Services if it has any queries about the Services though sending e-mail to support@stormpay.io or letter to Citypoint, 1 Ropemaker Street, London, EC2Y 9HT, United Kingdom.

    Information may be requested from the Introduced Client, including but not limited to, its Authorised Users or Transaction information so that it can verify the identity of an Authorised User and/or the Services provided to such Introduced Client.
  • 15.2 Any information shared by the Introduced Client will be kept strictly confidential. Where such information is provided in connection to a service provided by a third party, for example, the Account, then the Introduced Client’s information will only be used in accordance with instructions of such third party and only for the purpose of providing Customer Services to the Introduced Client on behalf of such third party.
  • 15.3 As part of Safenetpay’s commitment to providing a quality customer service, its managers periodically monitor telephone communications between its employees and Introduced Clients to ensure that Safenetpay’s high-quality service standards are maintained. The Introduced Client consents to such monitoring and recording of telephone communications and agrees to make its Authorised Users aware of such practice.

16. TERM, SUSPENSION AND TERMINATION

  • 16.1 This Agreement shall commence on the date the Introduced Client receives confirmation from Safenetpay or the Distributor (where applicable) of its successful application for Services and shall continue until terminated by the Introduced Client, the Distributor (if acting on behalf of the Introduced Client) or Safenetpay.
  • 16.2 The Introduced Client or the Distributor (where applicable) may terminate this Agreement immediately by notifying Customer Services in writing by post or email.
  • 16.3 We can suspend or terminate your Account at any time with immediate effect (and until your default has been remedied or the Agreement terminated) without any prior notice to you if:
    • 16.3.1 we discover any of the Information that we hold for you is false, misleading or materially incorrect; or
    • 16.3.2 if you, the Authorised User or a third party has engaged in fraudulent activity, money laundering, terrorism, terrorism financing or other illegal activity in connection with your Account or we have reasonable suspicions in respect of the same; or
    • 16.3.3 if you have reached your Account Limit;
    • 16.3.4 you or the Authorised User have breached these Terms of Use; or
    • 16.3.5 we are required to do so under any applicable law or regulation or at the direction of any regulatory, law enforcement or other competent authority.
  • 16.4 In the event that we do suspend or terminate your Account then if we are able to do so, we will tell you in advance otherwise we will let you know immediately afterwards (to the extent we are permitted by law).
  • 16.5 This Agreement will automatically terminate when all Accounts of the Introduced Client are closed (for any reason).
  • 16.6 On termination of this Agreement for any reason, any balance remaining in the Introduced Client’s Account(s) shall be returned to the Introduced Client in accordance with the Safenetpay Terms and Conditions. The Introduced Client shall pay immediately all outstanding Fees due (where applicable) under this Agreement and in the event of a negative balance in an Account, shall reimburse Safenetpay such amount equal to the negative balance.

17. INTELLECTUAL PROPERTY

  • 17.1 The Introduced Client acknowledges all Intellectual Property Rights in the Services are owned by or provided under licence to Safenetpay. Safenetpay grants the Introduced Client a non-exclusive, royalty-free licence for the duration of this Agreement to access and use the Services only for the purpose contemplated by this Agreement.
  • 17.2 Nothing in this Agreement shall operate to create or transfer any Intellectual Property Right to the Introduced Client.

18. FORCE MAJEURE

  • 18.1 Safenetpay will not be liable for the non-performance or failure to provide any part of the Services occurring as a result of any events that are beyond the reasonable control of Safenetpay, for example, but not limited to, fire, telecommunications or internet failure, utility failure, power failure, equipment failure, employment strife, riot, war, terrorist attack, non-performance of third party suppliers, acts of God such as storm or lightning damage, or other causes over which Safenetpay has no reasonable control.

19. ASSIGNMENT TRANSFER AND SUBCONTRACTING

  • 19.1 The Services provided to the Introduced Client are personal to the Introduced Client. The Introduced Client may not novate, assign or otherwise transfer this Agreement, any interest or right under this Agreement (in whole or in part) without the prior written consent of Safenetpay.
  • 19.2 The Introduced Client agrees Safenetpay may, in its sole discretion, assign, or transfer some or all of its rights and obligations or delegate any duty of performance set out in the documents forming this Agreement. Safenetpay may subcontract any of its obligations under this Agreement.
  • 19.3 In the event of any transfer of this Agreement by Safenetpay to another service provider; if the Introduced Client does not want to transfer to the new provider, the Introduced Client must notify Safenetpay of its objection in writing to Customer Services. On receipt of such notification, Safenetpay will terminate this Agreement. Any balance remaining in the Introduced Client’s Account(s) will be returned to the Introduced Client in accordance with the redemption procedure set out in the Safenetpay Terms and Conditions.

20. OUR LIABILITY

  • 20.1 Our liability and the liability of our agents and distributors in connection with these Terms of Use (whether arising in contract, tort (including negligence), breach of statutory duty or otherwise) shall be subject to the following exclusions and limitations:
    • 20.1.1 neither we, nor our agents and distributors shall be liable for any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds;
    • 20.1.2 neither we, nor our agents and distributors shall be liable for any loss of profits, loss of business, or any indirect, consequential, special or punitive losses/damages;
    • 20.1.3 where sums are incorrectly deducted from your Available Balance due to our default, our liability and that of our agents and distributors shall be limited to payment to you of an equivalent amount to that which was incorrectly deducted from your Available Balance;
    • 20.1.4 in all other circumstances of our default, our liability and that of our agents and distributors jointly will be limited to transferring any Available Balance to your nominated bank account.
  • 20.2 In circumstances where sums are incorrectly deducted from your Available Balance due to our fault, if we require your support to enable us to recover the incorrect deduction, you agree to provide us, our agents and distributors with all assistance that we reasonably require.
  • 20.3 Nothing in these Terms of Use shall exclude or limit our liability or that of our agents and distributors for death or personal injury resulting from our negligence or fraud.
  • 20.4 To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.
  • 20.5 Safenetpay makes no warranty that access to and use of the Services will be uninterrupted or error-free.
  • 20.6 Safenetpay shall not be liable to the Introduced Client for any loss or damage the Introduced Client may suffer as a result of any act or omission of an Authorised User or an Authorised User’s use of or inability to use of the Services.
  • 20.7 The Introduced Client agrees to indemnify Safenetpay against any and all actions, claims, costs, damages, demands, expenses, liabilities, losses and proceedings Safenetpay directly or indirectly incurs or which are brought against Safenetpay if the Introduced Client or an Authorised User has acted fraudulently, been negligent or has misused a Safenetpay Product or any of the services provided under this Agreement.
  • 20.8 Safenetpay shall not be responsible in any way for any interest or claims of any third parties in respect of the Services, except as required by law or regulation.
  • 20.9 The above exclusions and limitations set out in the above clauses 20.1-20.8 shall apply to any liability of our affiliates and other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with these Terms of Use.

21. REPORTS

  • 21.1 Safenetpay may make available certain management or other reporting or business administration functionality via the Online Portal.
  • 21.2 Safenetpay may from time to time amend, modify, replace or withdraw in whole or in part such reporting it provides without further notice.

22. DATA PRIVACY

  • 22.1 Safenetpay will collect and retain personal information about the Introduced Client and each Authorised User to enable Safenetpay to deliver the Services, the services linked to it and deal with any enquiries that the Introduced Client may have about it. You must update any changes to your Information by contacting Customer Services. Safenetpay is the data controller of the personal information gathered by Safenetpay for such purpose. If Safenetpay uses a third party to provide a part of the Safenetpay Product then that provider will be the owner and controller of the personal information they require to collect in order to operate the relevant service. The use of personal information by third-party service providers will be set out in their service terms and conditions of use. Safenetpay will, at such third-party provider’s direction, process personal data on its behalf, for example, to enable Safenetpay to provide Customer Services to the Introduced Client.
  • 22.2 Safenetpay processes personal information in accordance with the Data Protection Laws.
  • 22.3 If Safenetpay transfers the Introduced Client’s information to a third party in a country outside of the European Economic Area, Safenetpay will ensure that the third party agrees to apply the same levels of protection that Safenetpay is legally obliged to have in place when Safenetpay processes personal data.
  • 22.4 Further information about how Safenetpay uses personal information can be found in Safenetpay’s Privacy Policy; please contact Customer Services for a copy of this.
  • 22.5 If you or the Authorised User allow or give consent to an Authorised Third Party Provider to access your Account to provide their services, you should know that we have no control over how an Authorised Third Party Provider will use your information nor will we be liable for any loss of information after an Authorised Third Party Provider have access to your information.
  • 22.6 We will retain details of individual transactions for six (6) years from the date on which the particular transaction was completed. We will maintain all other records for six (6) years from which we have ceased to provide you with any product or service

23. VARIATION

  • 23.1 Safenetpay may amend or modify this Agreement by giving no less than two (2) months’ notice to the Introduced Client unless Safenetpay is required to make such a change sooner by law. All proposed changes will be posted on the Online Portal and communicated to the Introduced Client by such other means that Safenetpay agreed with the Introduced Client, for example by email. If the Introduced Client is accessing Services via the Distributor, all notifications will be communicated via the Distributor.
  • 23.2 The Introduced Client has no obligation to accept such amendments proposed by Safenetpay.
  • 23.3 The Introduced Client will be taken to have accepted any change to this Agreement that Safenetpay notifies to the Introduced Client unless the Introduced Client tells Safenetpay otherwise before the relevant change takes effect. In such circumstances, Safenetpay will treat the notice of objection by the Introduced Client as notification that the Introduced Client wishes to terminate this Agreement and the use of all Services immediately. All Accounts of the Introduced Client will be closed and any balance remaining in the Introduced Client’s Account will be returned to the Introduced Client in accordance with the redemption procedure set out in the Safenetpay Terms and Conditions. In this circumstance the Introduced Client will not be charged a fee for the Account closure and return of any balance.
  • 23.4 If any part of these Terms of Use is inconsistent with any legal requirements then we will not rely on that part but treat it as if it did actually reflect the relevant legal requirement. If we need to make operational changes before we can fully comply with the new regulatory requirement, we will make those changes as soon as reasonably practical.

24. GENERAL

  • 24.1 In these Terms of Use, headings are for convenience only and shall not affect the interpretation of these Terms of Use.
  • 24.2 Any delay or failure by Safenetpay to exercise any right or remedy under this Agreement shall not be interpreted as a waiver of that right or remedy or stop Safenetpay from exercising its rights at any subsequent time.
  • 24.3 In the event that any part of this Agreement is held not to be enforceable, this shall not affect the remainder of the Agreement which shall remain in full force and effect.
  • 24.4 The Introduced Client shall remain responsible for complying with this Agreement until its Account(s) are closed (for whatever reason) and all sums due under this Agreement have been paid in full.
  • 24.5 This Agreement is governed by the English law and the Introduced Client agrees to the exclusive jurisdiction of the courts of England and Wales.
  • 24.6 You may not assign or transfer any of your rights and/or benefits under these Terms of Use and you shall be the sole party to the Agreement between us. You will remain liable until the Account issued to you is terminated. We may assign our rights and benefits at any time without prior written notice to you. We may subcontract any of our obligations under these Terms of Use.
  • 24.7 Save for Safenetpay affiliates, who act on our behalf, no third party who is not a party to these Terms of Use has a right to enforce any of the provisions in these Terms of Use and the Contracts (Rights of Third Parties) Act 1999 shall not apply.
  • 24.8 The Financial Services Compensation Scheme is not applicable for this Account. No other compensation schemes exist to cover losses claimed in connection with your Account. As a responsible e-money issuer, we will ensure that once we have received your funds they are deposited in a secure account, specifically for the purpose of redeeming Transactions made from your Account. In the event that we or Safenetpay become insolvent funds that you have loaded which have arrived with and been deposited by us are protected against the claims made by our creditors.

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