Terms & conditions

1. Introduction

1. By using the Banqit App and Services you agree to the Terms and Conditions (Terms) detailed below.
2. Use of the Services is conditional on your acceptance of these Terms. You should read these Terms carefully and ensure you understand them fully before agreeing to them. These Terms are available for you to download from the App and are also available from our website.
3. The Terms below apply when you (the “Client”) use the Services as defined below, and which set out the legally binding conditions which govern the provision of the Services to you.
4. If you are using the Services as a Third Party User (eg as a Sales Assistant) then you only need to read and agree the specific section ‘Terms For Third Party Users’ at the end of the document.

2. About us

1. Banqit is a company registered in England and Wales under number 13051345 whose registered office is at 128 City Road, London, United Kingdom, EC1V 2NX

3. Our Services

Our services to you include the following (together, the “Services”):

2. Banqit acts as an intermediary between its Clients and its Clients’ Customers in order to streamline the process of collecting payments direct from the bank account of the end Customer to the bank account of the Client.
3. We will provide you with a software application (the “App”) which you can use to transmit information relating to payment accounts (“Account Information”), that you hold with your bank that maintains a payment account on your behalf that is accessible online, to Banqit or its third party processors in particular PSD2 compliant TPPs, according to these Terms.
4. The App also allows Clients to initiate payment instructions with respect to a Payment Account held by them with a bank.
5. To use the App you will need to create a user name (your email address) and password. You agree to keep the password secret.
6. To use the App you will need to provide identifying information to your banking app to link your bank account with the App.
7. The App will allow you to retrieve such Account Information as you choose to transmit them to Banqit and its third party processors in particular PSD2 compliant TPPs.  Annex 1 lists the information that you can elect to retrieve and transfer using the App.
8. We may use internet providers, web browsers or other third parties, in particular PSD2 compliant TPPs, to access your Data to provide you with the Services.
9. The Account Information collected from your bank is not checked nor verified for accuracy and is presented as supplied by your bank.
10. The services provided by Banqit and your Bank are dealt with by the agreements that you have with each of them. As a result, we have no responsibility for the products and services provided to you by any bank, or any other third party, in particular PSD2 compliant TPPs and are not liable to you for any harm, damage or loss arising from your use of those products and services. In particular, you should check your bank’s rules on data privacy.
11. The Client can invite Third Party Users such as its staff and/or other associated persons to use the App associated with its business on behalf of the Client in order to raise payment requests.
12. The Client is able to select which functionality the Third Party Users are permitted to access and can remove the access at anytime.
13. Banqit is not liable for any actions of any Client Third Party Users invited to use the App.

4. Our fees

1. You agree to pay fees for the provision of the Services as set out in Schedule 1.
2. We will send you a payment request every calendar month via the App and via email and you agree to process the payment within 7 days using the App. If you don’t pay within the 7 days we reserve the right to suspend all or some of the Services until such time as payment is made.
3. Fees are subject to annual review and Banqit reserves the right to increase the Fees by the CPI rate published by the UK Government.
4. You will be given 30 days notice of any increase in Fees.

5.  How we protect your data for payment services

1. All data including Banqit User Name and Password, Account Information, and bank account details are encrypted in transit using SSL.
2. As explained in the Privacy Policy, metadata (e.g. unique identifier, name, email address, affiliations with other users) is accessible to Banqit staff.
3. The Client’s Account Information and Bank Account details are protected behind firewalls.
4. We will not provide your Banqit Password in raw or encrypted format to any third party.
5. We may provide a Client’s bank account details or Account Information to third parties, e.g. through Open Banking for the purposes of arranging payments to the Customer during a refund.
6. Any Account Information that we access will only be accessed where you have explicitly given us permission to do so. Please refer to Annex 2 for more details on how we protect your Account Information.

6.  What we need from you

1. You are only permitted to use the Service if you are aged 18 or older and resident in the UK. By agreeing to these Terms you warrant this to be the case.
2. We are providing the Service to you only so you should not share your access to the Service or your Credentials with anyone else.
3. You are only entitled to access and use the Service in accordance with these Terms.
4. We need to know we are transmitting Account Information relating to the right person. You must provide us with information which is accurate, and must not misrepresent your identity or any other information about you.

7.  What happens when you use the Service

By using the Service, you;

5. warrant that you are allowed to use the linked bank account(s) for this purpose without any limitations including any agreements with third parties;
6. give us your explicit consent to retrieve and display your Account Information for you using the App and transmit it to Banqit for the purpose of providing the Services;
7. give us explicit consent to provide the Services which allows you to consent to the initiation of payment orders with respect to a Payment Account held by you with your bank;
8.  give us explicit consent to provide the Services to the Third Parties Users that you have permitted to use the app in association with your business.
9. You agree that you will not;

1.  use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor our website at https://banqit or any other Banqit domain (the “Site”) or the Servicse or any portion of them without our express written consent, which may be withheld at our sole discretion;
2. use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Services, other than the search engines and search agents available through the Services;
3. post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interfere with the proper working of the Site or the Services; or
4. attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up a part of the Service for any purpose other than those provided for by us and in conjunction with the operation of the Services;
5. attempt to gain access to the App by any method other than the prescribed and proper access method;
6. use the App for any illegal activity.

10. Your privacy is very important to us and we will only use your personal data in line with our Privacy Policy which can be found in the App and via our website. You agree to us controlling and processing your personal data in accordance with the Privacy Policy and these Terms for the purpose of providing the Services to you. If you are not comfortable with how we handle your personal data as explained in the Privacy Policy, you should not use our Services.

8.  Liability

1. You agree that you will be liable for any losses sustained by Banqit as a result of your breach of these Terms and will compensate Banqit in full for any such losses.
2. You agree that you will be liable for any losses sustained by Banqit as a result of a breach by a Third Party User given access to the App by you.
3. As under The Payment Services Regulations 2017 section 76(5) “Payment service provider’s liability for unauthorised payment transactions” You agree that unless Banqit is found to be responsible for an unauthorised payment transaction, the account servicing payment service provider must refund the amount of the unauthorised payment transaction to You.

9.  Our ownership of the Site and the Service

1. We are the owner or the licensee of all intellectual property rights in the Services, the Site and in the material published on the Site. All of those works are protected by copyright and other intellectual property laws and treaties around the world. All rights are reserved to the relevant owner or licensee of those works.

10. Disclaimer of Representations and Warranties

1. While we will provide the Services  with reasonable care and skill, the content and all services and products associated with the Service or provided through the Site or the Service are provided to you on an “as-is” and “as available” basis.
2. Subject to the section below, under ‘service interruptions’, we make no express representations or warranties of any kind as to the content or operation of the Services;

1. as to the accuracy, reliability or completeness of the content of the Services; or
2. that the content that may be available through the Service is free of infection from any viruses or other code or computer programming routines that contain contaminating or destructive properties or that are intended to damage, surreptitiously intercept or expropriate any system, data or personal information.
3. and expressly disclaim any warranties of non-infringement or fitness for a particular purpose.

11. Service interruptions

1. Where the service interruptions is caused by us, outside of scheduled maintenance, the limit of our liability will be restricted to amount of the minimum monthly fee proportioned to the duration of the service interruption.
2. We are only responsible to you for reasonable and foreseeable loss and damage caused by us, and are not responsible for damage due to failures by any third party we rely on, including banks and PSD2 compliant TPPs. If we fail to comply with these terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking these Terms or our failing to use reasonable care and skill. We are not responsible for any losses that you suffer as a result of our failure to comply with these Terms except those losses which are a foreseeable consequence of the breach. Loss or damage is foreseeable either if it is obvious that it will happen or if, at the time you agreed to these Terms, both we and you knew it might happen.
3. We will not be liable nor responsible for any harm, damage or loss to you arising from or relating to hacking, tampering or any unauthorised access to your Account Information, Credentials or other data outside of the Service that we provide. You warrant that you have undertaken all reasonable efforts to ensure and secure your Password and Account Information outside of the Service that we provide. Subject to the section below, our liability to you for any cause whatever and regardless of the form of the action, if proven, will at all times be limited.
4. We are not liable to you for any harm, damage or loss to you arising from the acts or omissions of any third parties, including in particular banks, PSD2 compliant TPPs.
5. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation; or for breach of your legal rights in relation to the Service.
6. Where we become aware of any personal data breaches in relation to the Services and your Credentials where such a breach is likely to result in high risk of adversely affecting your rights and freedoms we will, where feasible report such a breach to the ICO and to you within 72 hours of becoming aware of the breach.
7. If you suspect that somebody else has access to your Credentials and is fraudulently using them to access the Service, you must contact us immediately by email to the following address: security@banqit.co.uk

12. About this agreement

1. These Terms will apply each and every time you use our Services.
2. We may at any time terminate or withhold your access to all or any part of our Services at any time, effective immediately;

1. if you have breached any provision of these Terms (or have acted in a manner which clearly shows that you do not intend to, or are unable to comply with the provisions of these Terms); or
2. if we, in our sole discretion, believe we are required to do so by law (for example, where the provision of the Service to you is, or becomes, unlawful).

13. Changes to these Terms

1. Each time you use our Service you will be bound by the Terms in force at that time.
2. From time to time, we may change these Terms. If we do this then we will publish those changes on our website and you will be bound by those new terms the next time you use our Service. If you do not agree to those changes you should not use our Service. You can always ask us for the terms of service which were in force when you used the Tool.

14. Term and Termination

1. These Terms are effective from when you download the App and will continue until such time as either party terminates them.
2. Should you wish to stop receiving the Services you can do so by giving us Notice of not less than 3 months. Notice cannot be given until after 6 months after you first accepted these Terms. Fees will apply during the Notice period and should be paid in full before you close your account.
3. When you close your account, in accordance with GDPR, we will delete all data we hold about you except that which we are legally obliged to hold for record keeping.
4. We reserve the right to terminate the Services upon giving you 3 months written Notice.
5. We reserve the right to terminate the Services immediately should you breach any of these Terms.

15. Disputes

1. The courts of England and Wales will have exclusive jurisdiction to settle any disputes arising under or in connection with these Terms.
2. These Terms and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of England and Wales.
3. Should you wish to raise a complaint with us, please first contact us at complaints@banqit.co.uk and if we cannot resolve the issue immediately then we will send you a copy of our Complaints Policy and follow the procedures contained therein. You have the right to raise complaints with the Financial Ombudsman Service, where relevant.

16. Entire Agreement

1. These Terms constitute the entire agreement and understanding between the parties in respect of the Service and supersede any previous agreement between the parties relating to such matter. Each of the parties represents and undertakes that in entering these Terms it does not rely on, and shall have no remedy in respect of, any statement, representation, warranty or undertaking (whether negligently or innocently made) of any person (whether party to these Terms or not) other than as expressly set out in these Terms.
2. If any provision or part-provision of these Terms is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of these Terms.
3. A waiver of any right or remedy under these Terms or by law is only effective if given in writing.
4. A failure or delay by either party to exercise any right or remedy provided under these Terms or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under these Terms or by law shall prevent or restrict the further exercise of that or any other right or remedy.
5. All covenants, agreements, representations and warranties made in these Terms shall survive your acceptance of these Terms and the termination of these Terms.

Schedule 1 - Fees

You agree to pay Banqit, via the App, fees for the provision of the Services.

Fees are as follows:

Joining fee of £10 payable upon sign-up.

Transaction based fees calculated as 0.4% of every payment transaction value for the previous month.

Minimum charge of £10.00 per month.

Annex 1 – Account Information

Your Account Information includes, but is not limited to, the following types of financial and personal information:

Personal information (also referred to as ‘metadata’):

Full name,

trading name and trading address,

email address,

phone number

Payment bank account information:

Account type (e.g. current, saving, investment, credit card);

Account name;

IBAN/Account number/Sort code/SWIFT;

Currency;

Account balance information:

Current balance;

Available balance (credit cards);

Overdraft balance;

Interest rate;

Information on transactions:

Time;

Description;

Amount; and

Payment Metadata (arbitrary data that banks associate with a transaction e.g. category).

If you have any questions about your Account Information or how it is used, please see our Privacy Policy at the following link https:/banqit/privacy or contact us by email at support@banqit.co.uk

Terms for Third Party Users

17. Introduction

1. By using the Banqit App and Services you agree to the Terms and Conditions (Terms) detailed below.
2. Use of the Services is conditional on your acceptance of these Terms. You should read these Terms carefully and ensure you understand them fully before agreeing to them. These Terms are available for you to download from the App and are also available from our website.
3. The Terms below apply when you (the “User”) use the Services as defined below, and which set out the legally binding conditions which govern the provision of the Services to you.

18. About us

1. Banqit is a company registered in England and Wales under number 13051345 whose registered office is at 128 City Road, London, United Kingdom, EC1V 2NX

19. Our Services

Our services to you include the following (together, the “Services”):

2. Banqit acts as an intermediary between its Clients and its Clients’ Customers in order to streamline the process of collecting payments direct from the bank account of the end Customer to the bank account of the Client.
3. As a Third Party User you have been invited to use the App by the Client for the purposes of taking payments from the Client’s Customers.
4. We will provide you with a software application (the “App”) which you can use to transmit information relating to payment accounts (“Account Information”) of the Client to Banqit or its third party processors in particular PSD2 compliant TPPs, according to these Terms.
5. To use the App you will need to create a user name (your email address) and password. You agree to keep the password secret.

20.  What we need from you

1. You are only permitted to use the Services if you are aged 18 or older and resident in the UK. By agreeing to these Terms you warrant this to be the case.
2. We are providing the Services to you only so you should not share your access to the Service or your Credentials with anyone else.
3. You agree you have been invited to use the Services by a Client and you will only use the services for the benefit of that Client.
4. You are only entitled to access and use the Service in accordance with these Terms.

21.  What happens when you use the Service

1. By using the Services you agree that you will not;

1.  use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor our website at https://banqit or any other Banqit domain (the “Site”) or the Servicse or any portion of them without our express written consent, which may be withheld at our sole discretion;
2. use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Services, other than the search engines and search agents available through the Services;
3. post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interfere with the proper working of the Site or the Services; or
4. attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up a part of the Service for any purpose other than those provided for by us and in conjunction with the operation of the Services;
5. attempt to gain access to the App by any method other than the prescribed and proper access method;
6. use the App for any illegal activity.

2. Your privacy is very important to us and we will only use your personal data in line with our Privacy Policy which can be found in the App and via our website. You agree to us controlling and processing your personal data in accordance with the Privacy Policy and these Terms for the purpose of providing the Services to you. If you are not comfortable with how we handle your personal data as explained in the Privacy Policy, you should not use our Services.

22.  Liability

1. You agree that you will be liable for any losses sustained by Banqit as a result of your breach of these Terms and will compensate Banqit in full for any such losses.
2. You agree that you will be liable for any losses sustained by Banqit as a result of a breach by a Third Party User given access to the App by you.
3. As under The Payment Services Regulations 2017 section 76(5) “Payment service provider’s liability for unauthorised payment transactions” You agree that unless Banqit is found to be responsible for an unauthorised payment transaction, the account servicing payment service provider must refund the amount of the unauthorised payment transaction to You.

23.  Our ownership of the Site and the Service

1. We are the owner or the licensee of all intellectual property rights in the Services, the Site and in the material published on the Site. All of those works are protected by copyright and other intellectual property laws and treaties around the world. All rights are reserved to the relevant owner or licensee of those works.

24. Disclaimer of Representations and Warranties

1. While we will provide the Services  with reasonable care and skill, the content and all services and products associated with the Service or provided through the Site or the Service are provided to you on an “as-is” and “as available” basis.
2. Subject to the section below, under ‘service interruptions’, we make no express representations or warranties of any kind as to the content or operation of the Services;

1. as to the accuracy, reliability or completeness of the content of the Services; or
2. that the content that may be available through the Service is free of infection from any viruses or other code or computer programming routines that contain contaminating or destructive properties or that are intended to damage, surreptitiously intercept or expropriate any system, data or personal information.
3. and expressly disclaim any warranties of non-infringement or fitness for a particular purpose.

25. Service interruptions

1. We will not be liable to your for any loss or damage due to a service interruption whatever the cause.
2. We will not be liable nor responsible for any harm, damage or loss to you arising from or relating to hacking, tampering or any unauthorised access.
3. We are not liable to you for any harm, damage or loss to you arising from the acts or omissions of any third parties, including in particular banks, PSD2 compliant TPPs.
4. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation; or for breach of your legal rights in relation to the Service.
5. Where we become aware of any personal data breaches in relation to the Services and your Credentials where such a breach is likely to result in high risk of adversely affecting your rights and freedoms we will, where feasible report such a breach to the ICO and to you within 72 hours of becoming aware of the breach.
6. If you suspect that somebody else has access to your Credentials and is fraudulently using them to access the Service, you must contact us immediately by email to the following address: security@banqit.co.uk

26. About this agreement

1. These Terms will apply each and every time you use our Services.
2. We may at any time terminate or withhold your access to all or any part of our Services at any time, effective immediately;

1. if you have breached any provision of these Terms (or have acted in a manner which clearly shows that you do not intend to, or are unable to comply with the provisions of these Terms); or
2. if we, in our sole discretion, believe we are required to do so by law (for example, where the provision of the Service to you is, or becomes, unlawful).

27. Changes to these Terms

1. Each time you use our Service you will be bound by the Terms in force at that time.
2. From time to time, we may change these Terms. If we do this then we will publish those changes on our website and you will be bound by those new terms the next time you use our Service. If you do not agree to those changes you should not use our Service. You can always ask us for the terms of service which were in force when you used the Tool.

28. Term and Termination

1. These Terms are effective from when you download the App and will continue until such time as either you, the Client or Banqit terminates them.
2. Should you wish to stop receiving the Services you can do so closing your account.
3. When you close your account, in accordance with GDPR, we will delete all data we hold about you except that which we are legally obliged to hold for record keeping.
4. We reserve the right to terminate the Services immediately should you breach any of these Terms.

29. Disputes

1. The courts of England and Wales will have exclusive jurisdiction to settle any disputes arising under or in connection with these Terms.
2. These Terms and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of England and Wales.
3. Should you wish to raise a complaint with us, please first contact us at complaints@banqit.co.uk and if we cannot resolve the issue immediately then we will send you a copy of our Complaints Policy and follow the procedures contained therein. You have the right to raise complaints with the Financial Ombudsman Service, where relevant.

30. Entire Agreement

1. These Terms constitute the entire agreement and understanding between the parties in respect of the Services and supersede any previous agreement between the parties relating to such matter. Each of the parties represents and undertakes that in entering these Terms it does not rely on, and shall have no remedy in respect of, any statement, representation, warranty or undertaking (whether negligently or innocently made) of any person (whether party to these Terms or not) other than as expressly set out in these Terms.
2. If any provision or part-provision of these Terms is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of these Terms.
3. A waiver of any right or remedy under these Terms or by law is only effective if given in writing.
4. A failure or delay by either party to exercise any right or remedy provided under these Terms or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under these Terms or by law shall prevent or restrict the further exercise of that or any other right or remedy.
5. All covenants, agreements, representations and warranties made in these Terms shall survive your acceptance of these Terms and the termination of these Terms.