ZIGLU’S CUSTOMER TERMS AND CONDITIONS

These terms and conditions and each of the documents we refer to in them form the contract between Ziglu Limited, trading as Ziglu (“Ziglu”, “we”, “us”, “our”) and you as our customer and part of the Ziglu community (“you”, “your”) in relation to the Ziglu account, the Ziglu app and your use and our provision of related services, including e-money issuance, currency exchange and e-Wallet services.

For your own benefit and protection, you should read these terms and conditions and all documents referred to very carefully before using our services, the Ziglu account and the Ziglu app. If you do not understand any point, please contact us and ask for further information using the details below.

PLEASE NOTE: The risk of loss in trading or holding Digital Currencies can be substantial. As with any asset, the value of digital currencies and cryptocurrencies can go up or down (and can even drop to zero), may be very volatile and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital currencies and cryptocurrencies. Digital currency and cryptocurrency services are not currently regulated by the Financial Conduct Authority or any other regulator in the UK. You should carefully consider whether trading or holding digital currencies or cryptocurrencies is suitable for you in light of your own financial situation and attitude to risk, as evaluated by you carefully. We do not make any representations or recommendations regarding the advisability or otherwise of trading in digital currencies and cryptocurrencies or any particular transaction. We cannot and do not guarantee the timeliness, accuracy or completeness of any information (whether pricing, exchange rate or otherwise) provided in connection with any digital currency or cryptocurrency or your holding or trading of or in the same.

WHO ARE Ziglu?

Ziglu is the trading name of Ziglu Limited, a private company limited by shares incorporated and registered in England and Wales with company number 9204810 and whose registered office is at 1 Poultry, London, EC2R 8EJ. Ziglu has applied to become an issuer of electronic money and to be authorised by the Financial Conduct Authority (“FCA”) as an electronic money institution under the Electronic Money Regulations 2011 (S.I. 2011/99).

ELIGIBILITY FOR A ZIGLU ACCOUNT

Ziglu’s services and any Ziglu account and the Ziglu app are currently only for use by residents of the United Kingdom who are aged 18 and over. While we intend to expand our offerings to other countries in due course, currently only UK-residents who are at least 18 years of age may use our services and are eligible to apply for a Ziglu account.

You will also need a current bank account with an FCA-regulated UK bank approved and authorised by the FCA in order to be able to load funds into your Ziglu account.

In order for us to approve you for a Ziglu account, we will need to verify your identity and run due diligence checks to ensure both that you are who you say you are and that we avoid any risk of the Ziglu account, services or app being used for illegal purposes (such as money laundering, terrorist financing, fraud or any other financial crime).

You will need to complete these verification procedures in full before you will be able to access the full benefits of a Ziglu account, our services and the app. The information we request may include certain personal information, including, but not limited to: your name; residential address; prior residential addresses; telephone number; email address; date of birth; information regarding your bank account from which you wish to load money to your Ziglu account (such as the name of the bank, the account type, sort code and bank account details etc.); mobile device identifiers (IMSI and IMEI) and other details we may reasonably require. We will treat all of this information in accordance with our data protection obligations and applicable law, including in accordance with our Privacy Policy.

By applying for a Ziglu account, you authorise us to make such enquiries as we deem appropriate, whether directly or via third parties, in order to seek to verify your identity, the information and documentation you provide, to protect you and us against fraud or other financial crime and to take such action as we reasonably deem appropriate based on the results of such enquiries and our ongoing legal and regulatory obligations.

When we carry out these enquiries and verifications, you acknowledge and agree that your personal information may be disclosed to third party enquiry and verification agents acting for us, to credit reference, fraud prevention and financial crime agencies and that these agencies may respond to our enquiries in full. We use identity checks as opposed to full credit checks, so there should not be any impact on your credit rating.

Such checks may require a period of delay prior to authorising a Ziglu account or authorising any particular transaction or series of transactions. You accept and acknowledge that our obligations are ongoing throughout the term of your use of our services, your Ziglu account and the app and, as such, we may be obliged to repeat checks and verification or to carry out additional or enhanced due diligence depending upon circumstances which arise (which may include, but are not limited to, situations where transaction volume, value or discrepancy gives rise to our need or decision to carry out the same).

If there is:

• any change to your full name, citizenship or postal address;
• the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made after we have granted you an account; or
• any change in your status,

which obliges us to comply with "Know Your Customer" or similar identification procedures, in circumstances where the necessary information is not already available to us, you will promptly give us all documents and other evidence that we reasonably request. You will give us this information so we can carry out and be satisfied we have complied with all "Know Your Customer" or other similar checks required under all applicable laws and regulations.

You acknowledge that, in compliance with laws and regulations, we may be obliged to store all the information about you and your transactions for 6 years after your Ziglu account is terminated.

WHAT ARE YOU AGREEING TO?

When you apply for a Ziglu account, use it or use our services or the app, you are deemed to agree to these terms and conditions, as well as the documents we refer to in these terms and conditions (such as, but not limited to, our Data Privacy Standard), as the same may be amended from time to time.

By applying for an using a Ziglu account, our services and the app you agree and represent that you are using the same only for yourself, personally, and not on behalf of any other person or entity. You are also irrevocably agreeing that you are responsible for all activity that occurs on your account and via your mobile device connected with the same. You must not allow any third party to make use of your account at any time.

We reserve the right to amend, replace and update our terms and conditions from time to time, in line with customers’ needs, our business requirements and changes in applicable laws and regulations. We will always ensure changes are as fair and reasonable as we can make them (subject to overriding legal and regulatory obligations we may have and circumstances beyond our reasonable control).

We will endeavour to notify you of such changes by email notification to the email address you provide to us as part of your contact details and by posting notification of changes on the app itself. We will provide you with as much advance warning of changes as we reasonably deem appropriate and to the extent we are reasonably and practically able to do so. You must ensure you regularly review these terms and conditions to ensure you are up to date. If you do not want to accept changes notified to you, you should let us know by contacting us without delay using the contact details set out below. In such event, arrangements will be made to close your Ziglu account as soon as is practically possible after your objection has been received.

All information and communications between us and you will be provided in English.

WHAT IS A ZIGLU ACCOUNT?

Once approved, your Ziglu account will be one or more hosted digital wallet(s) enabling you to store, track and manage your balance of electronic money issued by Ziglu and to make use of payment services provided by Ziglu enabling you to:

1. load GBP£ sterling into your account;
2. exchange loaded funds for certain digital currencies and cryptocurrencies to which we provide access via our approved exchanges;
3. exchange digital currency and cryptocurrency for GBP£ sterling; and
4. withdraw GBP£ sterling from your account to the original bank account used to load funds initially.

Please see section 5 below for more details.

When electronic money is issued to your Ziglu account, we will effectively hold it for you. This is not the same as a Bank holding money for you as we cannot and will not use the funds to invest or lend to other persons or entities and your electronic money will not earn or accrue any interest. In addition, your electronic money is not covered by the Financial Services Compensation Scheme. The funds corresponding to electronic money will be held in one or more segregated bank accounts separately from our own funds, in accordance with the provisions of the Electronic Money Regulations 2011, and will never be commingled with our own monies/funds.

WHAT CAN YOU DO WITH YOUR ACCOUNT AND THE APP?

Where your application is successful and we have completed all relevant checks (and subject to your ongoing compliance at all times with these terms and conditions as amended from time to time), we will provide you with a Ziglu account consisting of a hosted digital wallet enabling you to store electronic money issued by us (your “E-wallet”) and another to store, track, transfer and manage your balances of certain supported digital currencies and cryptocurrencies to which we allow access (your “Crypto e-wallet”).

You may use your electronic money in your E-wallet to buy digital currency or cryptocurrency via the Ziglu app, subject to having sufficient funds to do so. Similarly, you may elect to sell digital currency or cryptocurrency and receive electronic money into you E-wallet as a result.

We will keep reasonable records of the funds you hold in your E-wallet and Crypto e-wallet and of your transactions using the same.

If, for any reason, any e-wallet goes into negative balance, you must immediately repay such negative balance by loading sufficient funds into that e-wallet or transferring funds from another e-wallet you hold with Ziglu to bring it back to at least a zero balance. We reserve the right to automatically offset any negative balance against any fund transfers you make or fund values you hold in any other e-wallet you have with Ziglu.

(i)Loading Funds

In order to get started, you will have to load funds into your E-wallet of your Ziglu account using one of the approved payment methods available via the Ziglu app, which may include methods such as a credit or debit card or Apple, Android or Google Pay (as and when available). Your Ziglu account will show loaded funds once we have received them.

When funds are loaded to your Ziglu account, you will be issued with electronic money issued by us that represents the funds you have loaded. We will hold such funds in a designated safekeeping account with a regulated financial institution. The electronic money you receive will not earn any interest and nor will you have any entitlement to any interest on funds held by us in the safekeeping account. Your Ziglu account may hold electronic money in different currencies which we make available via the Ziglu app and we will show the balance for each currency you hold via the Ziglu app.

(ii)Buying Digital Currency or Cryptocurrency

Where you wish to purchase digital currency or cryptocurrency, you may do so provided you have sufficient funds in your E-wallet and/or Crypto e-wallet to enable the transaction you wish to carry out to proceed. If you do not, we may refuse to process any such transaction and shall have no liability to you for failure in the processing of the same.

To instruct us to make a purchase, you must follow the relevant instructions and steps shown in the Ziglu app and nominate which funds you wish to use to affect the transaction. You will be asked to confirm the amount of funds from your relevant e-wallet that you wish to use to affect the transaction and will be shown an indicative exchange rate, which is not guaranteed.

Once you have hit the [‘Buy Now’] button in the Ziglu app, your instruction to us to make the purchase of the relevant digital or crypto currency shall be irrevocable by you. You cannot withdraw your consent to any transaction once you have confirmed it by hitting the relevant button in the Ziglu app.

If you have attempted or attempt to load funds to your Ziglu account but your attempt is not successful, you authorise us to cancel any related transactions for which you do not possess sufficient funds in the relevant e-wallet from which you wish to pay for the transaction.

Exchange Rate Risk

You accept and acknowledge that each purchase of a digital or crypto currency is subject to an exchange rate, being the price of the relevant currency in fiat currency. The rates we display via the Ziglu app are indicative rates, only, and ARE NOT GUARANTEED to be the rates you will actually receive.

The actual exchange rate applicable to any transaction is not controlled by Ziglu as it is a live market-based rate which is wholly dependent upon the rates offered on an ever-fluid and changing basis by the relevant third-party exchanges handling the currency transactions.

While Ziglu seeks to achieve the best rates for you via its arrangements with its partners and the relevant exchanges, the actual rate applicable for each transaction will only be confirmed to you and displayed for you in your account via the Ziglu app once the transaction has been completed.

We cannot guarantee that any indicative exchange rate displayed via the Ziglu app will actually be achieved upon conclusion of any transaction. As such, the actual exchange rate achieved could be higher or lower than or the same as the indicative rate, depending entirely upon market circumstances and the rates available to us from our partners and the relevant exchanges.

By confirming a transaction via the Ziglu app, you are accepting the above risks and irrevocably authorising us to deduct the relevant amount from your relevant e-wallet in order to proceed with the transaction.

(iii) Selling Digital Currency or Cryptocurrency

To instruct us to sell any digital or crypto currency you hold, you must follow the relevant instructions and steps shown in the Ziglu app and nominate whether you wish to convert the relevant currency to electronic money in your E-wallet or whether you wish to exchange it for a different digital or crypto currency. You will be asked to confirm the amount of funds from your Crypto e-wallet that you wish to use to affect the transaction and will be shown an indicative exchange rate, which is not guaranteed.

Once you have hit the [‘Buy] button (if exchanging for an alternative digital or crypto currency) or the [‘Sell’] button (if exchanging the currency for electronic money in your E-wallet) in the Ziglu app, your instruction to us to make the sale of the relevant digital or crypto currency shall be irrevocable by you. You cannot withdraw your consent to any transaction once you have confirmed it by hitting the relevant button in the Ziglu app.

(iv) Withdrawing Funds

You may withdraw funds from your E-wallet at any time by following the instructions in the Ziglu app and subject to the sufficient availability of such funds to meet the withdrawal requested. You may only withdraw funds up to the amount actually held by you in your E-wallet. Upon requesting withdrawal, you will redeem your electronic money held in your E-wallet and funds will be transferred to your nominated bank account registered with us and approved by us for this purpose.

You may not withdraw funds from your Crypto e-wallet. Should you wish to do so, you will have to issue a sell instruction to exchange the relevant digital or crypto currency into electronic money within the E-wallet, from where it can then be withdrawn as above. Again, you should follow the instructions in the Ziglu app in order to do so and the terms at (iii) above will apply.

(v) Forks

As a result of the decentralized and open source nature of digital and crypto currencies it is possible that sudden, unexpected, or controversial changes (“Forks”) may be made to any such currency that may change the usability, functions, value or even name of a given currency. Such Forks may result in multiple versions of a currency and could lead to the dominance of one or more such versions of a currency and the partial or total abandonment or loss of value of any other versions of such currency.

Whether or not any Fork relating to a currency is recognised or accommodated by any digital currency or cryptocurrency exchange is entirely a matter for the relevant exchange and we have no control over the same. As such, we are under no obligation to support any Fork of a currency that you may hold in your Ziglu account, whether or not any resulting version of such forked currency has dominance or holds or increases in value at or following such Fork.

If we elect, in our sole discretion, to support a Fork of a currency, we will make a public announcement through the Ziglu app and/or by notifying customers via email. We will not, however, bear any liability for any real or potential losses that may result based on the decision to support such Fork or the timing of implementation of support. If we, in our sole discretion, do not elect to support a Fork of a currency, whether dominant or not, we will not have any responsibility or liability whatsoever for any losses or other issues that might arise from such unsupported Fork of a currency.

Forks of currencies can be frequent, contentious and unpredictable. They therefore cannot be consistently supported by us and when trading or holding currency using your Ziglu account, you must operate under the assumption that we will never support any Fork of a currency to which access if offered via the Ziglu app. Under no circumstances should you purchase a particular currency in reliance upon a Fork happening under the assumption this will increase the value of your holdings.

also does not generally support any other distributions, dividends, or “airdrops” of digital or crypto currency to wallet addresses (collectively, “Airdrops”) regardless of whether or not you would have received such Airdrops if you held such currency outside of your Ziglu account.

We may, at our sole discretion, elect to distribute and/or support an Airdrop, but we have no obligation to do so and shall bear no liability to you for failing to do so. If we do not support an Airdrop, we will not claim such Airdrop for our own benefit (unless it is unavoidable or impractical to avoid based on the means of distribution).

Note that in the event of a Fork of a digital or crypto currency, we may be forced to suspend all activities and transactions relating to such currency for an extended period of time until we have been able to determine, in our sole discretion, that such functionality can be restored. This suspension will likely occur immediately upon a Fork of a given currency, potentially with little to no warning, and during this period of suspension you will not be able to purchase or sell the currency which is subject to such Fork.

(vi) Title to Digital Currency and Cryptocurrency

All digital currency and cryptocurrency held in your Crypto e-wallet are custodial assets held by Ziglu for your benefit. This means that all title to the same remains with you and does not transfer to Ziglu at all.

As owner, you will bear all risk of loss of value of such currency and Ziglu shall not be liable to you in any way for fluctuations in currency value.

We may, via our partners, securely custody assets in cold storage on a pooled basis and we shall have no obligation to segregate by blockchain address or otherwise any assets owned by you from assets owned by other customers.

(vii) Transaction Limits

We may impose limits on the value and/or volume of transactions which may be carried out by you, whether in respect of any particular currency or as a whole. These limits will be displayed in your Ziglu account via the Ziglu app and may vary depending upon a number of factors, including (without limitation) your payment method and verification steps you have completed. We reserve the right, at our absolute discretion, to change applicable limits as we deem appropriate or necessary.

WHAT DO WE CHARGE?

We believe everything should be as simple and transparent for you as possible, without any hidden charges or additional fees you don’t know about up front. As such, we charge a simple fee that is a percentage (currently being determined) of the relevant value of each Exchange Transaction when it happens. An ‘Exchange Transaction’ happens when GBP£ sterling is exchanged for digital currency or cryptocurrency and when the reverse happens. The value of the transaction will be the amount of GBP£ sterling exchanged or received as part of the Exchange Transaction.

We deduct our fee from your account at the time of effecting the Exchange Transaction. In the event that there are insufficient funds in your account to satisfy our fee, we may refuse to affect the Exchange Transaction until such time as sufficient funds have been deposited into your account to enable it to proceed and our fee to be paid. Such delay may impact on the rate of exchange achieved for such Exchange Transaction and could lead to losses on your part, which you hereby irrevocably accept and agree.

CLOSING YOUR ACCOUNT

You can close your account with us at any time by sending us notice in writing using the contact details below.

We may terminate your access to app, our services and your Ziglu account at any time by giving you notice, which may take effect immediately or on such later date as may be specified in the notice.

We may at any time suspend or terminate your use of your Ziglu account without notice if:

1. we are required to take such action by any regulatory body;
2. you breach any part of these terms and conditions (including any document we refer to in them);
3. you breach or we have reason to believe that you are in breach of any legal obligation, law or regulation that is applicable to your use of the Ziglu account, app and/or our services;
4. we reasonably believe that we need to do so in order to protect our reputation;
5. due to continued inactivity of your account;
6. failure by you to respond to customer support requests;
7. we are unable to satisfactorily verify your identity and/or complete enhanced due diligence checks;
8. we have reason to believe or to suspect that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other financial crime or criminal activity; or
9. it is reasonably necessary for us to do so to prevent you or us from breaching any applicable law or regulatory requirement.

We may suspend your use of your account, the app and/or our services at any time:

1. for security, legal or regulatory reasons; or

2. if we reasonably suspect your account has been or is being used without your authorisation or fraudulently.

We may also refuse to complete or block, cancel or reverse a transaction you have authorised where there are insufficient funds or currency to affect the relevant transaction and to satisfy our fee or if any related payment into your account is declined.

We will try to give you advance notice of any suspension. Where advance notice is not possible, we will provide you with notice as soon as reasonably practicable thereafter. Unless we are prevented by applicable law or regulation, if we have them, we will try to provide you with details of the nature of the suspension, the anticipated duration and anything you have to do to remedy any error or circumstances which have led to the suspension. However, we are under no obligation to allow you to reinstate a transaction at the same price or on the same terms as any suspended, rejected, blocked, cancelled or reversed transaction.

On closure of your account, unless prohibited by applicable law or by any court or other order to which we are subject in any jurisdiction, for a period of 60 days following the date of termination:

1. you will continue to be able to view the balances of currencies held on your Ziglu account;
2. you will not be permitted to affect any transactions save to exchange any digital currency or cryptocurrency into GBP£ sterling for the purposes of then withdrawing the same from your account.

Where your Ziglu account holds a balance at the time of its closure, we will ask you to withdraw your funds within a reasonable period of time, during which your account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period you will not be able to access your account but you may withdraw any remaining funds for a period of six years from the date of closure of your account by contacting our customer service representatives and requesting that the funds be sent to you by returning the funds by either a card refund or bank transfer to the bank account used to create the Ziglu account. When your Ziglu account is closed, any pending instructions will be cancelled with immediate effect, save as provided above.

We may also require you to re-complete our identification and verification procedures in order to withdraw funds from your account upon or following closure.

You will not be charged for closure of your account, but you will still be required to pay any outstanding sums due to us.

You may not close your Ziglu account to evade or avoid an ongoing investigation. If you attempt to do so, we may freeze the account to protect you, us, our affiliates, or a third party against any liability. You will remain liable for any obligations related to your account even after it is closed.

For the avoidance of doubt, if your Ziglu account is closed or suspended your access to the app and our services will also be terminated or suspended (as applicable).

KEEPING YOUR ACCOUNT SECURE

In order to access your account via the app, you will be required to create or will be given security details, which may include a username and password and/or automatic or manual first or second factor verification via your mobile device or other similar verification means.

You are responsible for keeping the mobile device via which you access the Ziglu app and your account safe and secure and ensuring that adequate security and control of any and all security details used to access the Ziglu app and account is maintained at all times. You must take all reasonable steps to avoid the loss, theft or misuse of such mobile device and security details and ensure that your mobile device is appropriately encrypted, secured and password or passcode protected.

In the event that you lose or compromise your mobile device or security details, this may result in unauthorised access to your Ziglu account and could lead to the loss or theft of electronic money or digital currency or cryptocurrency or the loss in value of the same. It may also jeopardise the security of your linked bank account or bank card details.

You must keep your security details safe and confidential at all times. We strongly recommend against you writing them down or otherwise making them visible to third parties.

In addition, you should never allow a third party to view your account details or allow them access to your account. This includes not allowing a third-party remote access to your mobile device when you are logged into your Ziglu account or where they may gain access to details relating to the same.

We will never ask you for your IDs, passwords or authentication codes or to screen share or otherwise seek access to your mobile device or account. If you see anything connected with your account or your transactions (or any unrecognised transactions) you should contact us immediately and notify us of the same in as much detail as possible.

Ziglu does not accept any liability for any loss you may suffer due to compromise of your security details or mobile device due to no fault of ours and/or resulting from your failure to follow the requirements set out above. We also will not be responsible for any loss you may suffer which results from any failure by you to take action following any notice or alert from us to you.

If you suspect that there has been any security breach or compromising of your security details or mobile device, you must notify us immediately via [email protected] and provide all relevant details (including continuing to provide us with accurate and up to date information for the duration of any suspected breach or security issue). You must then take any steps we reasonably require to reduce, mitigate, manage or report such breach or suspected security breach or issue.

Ziglu is also not liable for any damage or interruptions caused by any computer viruses or other malicious code which might affect your mobile device or other equipment outside of Ziglu’s reasonable control, or any phishing, spoofing or other attack of any kind. We strongly recommend that you use a reputable and effective virus screening and prevention software package on all devices you use.

You should also be aware that SMS and email services are vulnerable to spoofing, phishing and other attacks and you must use care when reviewing messages purporting to come from Ziglu.

YOUR RESPONSIBILITIES AND RISKS ASSOCIATED WITH DIGITAL CURRENCY

You must always be aware that when you confirm a transaction to exchange either GBP£ sterling for digital currency or cryptocurrency or the other way around, you will be giving an irrevocable instruction to us to do so on your behalf and you cannot cancel such instruction or that transaction once you have pressed the ‘Confirm Transaction’ button on our app.

You must therefore ensure that you are certain you wish to proceed before you confirm any transaction.

It is also solely your responsibility to choose whether or not to proceed with any transaction. We do not provide advice of any kind in connection with any transaction. While we will provide indicative exchange rate information and may provide aggregated data on trends via the app, this does not constitute advice by us of any kind and nor are we making any form of recommendation. Any information we provide is purely for your personal use and should not be shared with others.

You cannot and should not rely on any information provided (whether directly by us or via the app) when making your decision to proceed (or not) with any particular transaction. You must only make such decisions based on your own determination.

If you are unsure as to whether any transaction is suitable for you and your circumstances, you should take independent expert advice from a suitable adviser.

Your acceptance of risks relating to digital and crypto currency trading

You also acknowledge and accept that trading in digital currencies and cryptocurrencies can be extremely risky. Each currency has unique features which may make it more or less likely to fluctuate in value and currencies offered via the Ziglu app can be extremely volatile, over which Ziglu will have no control or influence.

In addition, factors beyond our control may affect market liquidity for a particular currency, such as regulatory changes, market manipulation or pure price volatility. Blockchain networks may go offline as a result of bugs, forks or a number of other unforeseeable reasons. As a general matter, we advise you to make sure you have suitable trading experience and risk tolerance before engaging in any active trading. Speculating on the value of digital and crypto currencies is very high risk and you should never trade more than you can afford to lose.

Offering access to any particular digital or crypto currency via the Ziglu app does not in any way, nor shall it be deemed to, indicate approval or disapproval by us of such currency or the underlying technology relating to it and should not be used as a substitute for your own understanding of the risks specific to each currency. We make no warranty, guarantee or representation regarding the suitability or otherwise of any digital or crypto currency to which access is offered by us via the Ziglu app and/or which may be traded under these terms and conditions and we assume no fiduciary duty in our relationship with you.

The ability for you to purchase or sell digital or crypto currency via the Ziglu app is contingent on there being a counterparty willing to sell or purchase the same, which is wholly outside of our control. We make no promises as to the timing or availability of the ability to purchase or sell currency via the Ziglu app as we simply cannot control this.

You must be aware at all times that there is always the risk of total loss of value for any digital or crypto currency, should the market for the same disappear.

You must also be aware and accept that the software protocols that underlie digital and crypto currencies are often open source projects, which means that the development and control of such currency is entirely outside our control and such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given currency.

You must also be aware and accept the risk of operational challenges, as we or our partners may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You hereby agree not to hold us accountable for any related losses.

Blockchain networks themselves may also be subject to attacks by third parties and we do not have any ability to prevent or mitigate such attacks. We reserve the right to take the following commercially reasonable actions in the event of an attack: (a) if we are able to confirm that a currency active on our app has been compromised or is under attack, we may immediately halt trading and transactions relating to that currency; (b) if it is determined that such an attack caused the currency in question to greatly decrease in value, we may discontinue trade activity in such currency entirely. To be clear, we do not have any obligation to engage in activity in relation to attacks on blockchain networks at all.

Legislative and regulatory changes or actions may adversely affect the use, transfer, exchange, and value of digital and crypto currencies significantly and may even lead to total loss of value. You accept and acknowledge this risk when trading via the Ziglu app.

In addition to your obligations relating to security of your account, you must always make sure that you comply with all applicable laws, regulations, requirements and third-party rights when using your Ziglu account, our services and the app.

You cannot use your account, the app or our services for any of the following types of activity (please note that this list is not exhaustive and we may update or amend it from time to time at our absolute discretion):

1. Any unlawful activity of any kind – this includes any activity which would be a breach of any law, regulation or sanctions programme or dealing in or handling proceeds of any such activity, including but not limited to money laundering, financial crime and funding terrorism and tax evasion.
2. Any abusive or detrimental activity which impacts adversely on our systems, infrastructure, personnel, the app, our services, the operation of your or anyone else’s Ziglu account or our business. This may include, but is not limited to, intercepting or expropriating any system, information or data or transmitting or uploading any virus, trojan horse, worm or other harmful or deleterious programs, code or software, attempting to access any account other than your own, authorised Ziglu account, attempting to transfer your account and/or access to it to a third party, and enabling third parties to access your account, the accounts of others and/or Ziglu’s systems and services in an unauthorised manner.
3. Any attempt to interfere with any other user’s access or use of their account, our services or the app or any attempt to abuse, discriminate against, threaten, extort, defame, harass or stalk or otherwise violate or infringe the legal rights of any third party.
4. Gambling, whether lotteries, auctions (with or without bidding fees), betting, sports forecasting or odds making, fantasy sports leagues with cash prizes, internet gaming, contests, sweepstakes or games of chance or otherwise.
5. Infringement of intellectual property rights, whether ours or any third party’s – this includes, but is not limited to, engaging in transactions which involve items which infringe such rights.
6. Any business-related activity, including, but not limited to, using your account, the app or our services in connection with investment and credit services, restricted financial services business or activity, regulated products, drugs and drug paraphernalia, pseudo-pharmaceuticals and other like products which make health claims that have not been approved or verified by applicable authorised regulatory bodies and any similar or like business, products or activity.
7. Any unfair, deceptive or predatory activity towards any third party or anything which involves illegal, pornographic, defamatory or abusive content, products or materials.

You must comply with applicable law at all times and you accept and agree that we are not responsible for determining whether or which laws may apply to your transactions, including tax law. You are solely responsible for reporting and paying any taxes arising from your use of the Services.

Your Ziglu account is personal to you and you must not assign or transfer it to any third party without our express prior agreement in writing and complying with any conditions or requirements we may have which are related to such assignment or transfer.

REPORTING ISSUES WITH ANY TRANSACTION

If you believe that any transaction on your account was not authorised by you or was not correctly carried out by us then you must notify us without delay as soon as you become aware of it, but in any event by not later than 13 months after the date of the unauthorised or incorrect transaction or when you became aware of it.

If we failed to provide you with information about the transaction as we agree to do above (see section 5), then you will be entitled to redress as set out below, even if you failed to notify us within the 13-month timeframe set out above.

If you deny that you authorised a transaction we carried out or if you claim we carried out a transaction incorrectly, it is for us to prove that it was authorised or carried out correctly. Where you deny authorising a transaction we carried out, the use of your Security and Log-in Details is not sufficient to prove either that you did authorise it or that you acted fraudulently or failed to comply with the requirements above with respect to safekeeping of your security and log-in details.

Provided that (i) you have notified us as required above; and (ii) we cannot show that the transaction was authorised by you, then we will refund the amount of the unauthorised transaction to your Ziglu account.

Unless we have reasonable grounds to suspect fraudulent behaviour on your part, we will make the refund as soon as practicable, and in any event no later than the end of the business day following the day on which we became aware of the unauthorised transaction. We will, where applicable, restore your account to the state it would have been in if the unauthorised transaction had not taken place, ensuring that when we credit your Ziglu account the credit value date is no later than the date on which the amount of the incorrect or unauthorised transaction was debited.

You must pay up to a maximum amount of £35 for any losses we suffer from an unauthorised transaction due to the use of lost or stolen security and log-in details (including any use of your stolen mobile device), unless such use was not detectable by you prior to the payment or was caused by us or our agents.

You must pay for all losses resulting from an unauthorised transaction where you acted fraudulently or intended or negligently failed to safeguard the security and log-in details or your mobile device or did not notify us without delay in the way required above when you became aware they were lost, stolen or used without your authorisation.

Unless you acted fraudulently, you are not liable for any losses resulting from an unauthorised transaction:

1. after you notify us as required above;
2. if you could not notify us as we failed to provide you with the means at all times to tell us about security and log-in details and mobile devices that have been lost, stolen, misappropriated, used without authorisation, or otherwise compromised; or
3. if we fail to apply strong customer authentication, where this is required by law or regulation; or
4. where you used your Ziglu account to buy goods or services at a distance, unless the law says you are liable for the loss.

Where there is any issue or suspicion of unauthorised transactions occurring or there is any dispute between you and us regarding any transaction, we may, but are not obliged to:

1. temporarily credit your Ziglu account while we settle the dispute;
2. temporarily lock your Ziglu account to prevent any further suspicious or unauthorised transactions.

Where we determine that any transaction was authorised by you, we may reverse any credit given by us temporarily and correct errors made in any statement of your Ziglu account without prior notice to you. You will also be liable to repay to us as a debt any electronic money we temporarily credited to your account which you have transferred from your account.

OUR RESPONSIBILITIES AND LIABILITY TO YOU

We strive to provide you and all our other users and customers with an excellent, responsive service at all times. However, access to our services, the app and Ziglu accounts may become degraded or reduced, or even unavailable, during times of significant volatility or volume. This is a particular risk involved with digital currencies and cryptocurrencies given they, themselves, are prone to high volatility and sudden increases in volumes of dealing.

We cannot guarantee that the app, our services or Ziglu accounts will be available without interruption and we do not guarantee that any transaction will be executed, accepted, recorded or remain open. We will not be responsible for losses you may incur as a result of any of the above happening.

We will make reasonable efforts to ensure that requests for transactions are processed in as timely a manner as is reasonably practicable but we cannot guarantee this and we make no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon a number of factors which are beyond our reasonable control.

Similarly, while we try to be as responsive as possible, customer support times may also be delayed during times of high transaction volume or volatility, particularly in relation to non-critical issues (e.g. issues which don’t impact on the safety and security of your account, Ziglu’s systems or you personally).

In addition, while we also strive to provide you with accurate information wherever possible, we cannot guarantee that it is complete and accurate at all times and in all respects and you must view it accordingly and should not act in reliance upon it. We do not accept liability for any information provided which is inaccurate or incomplete unless this is as a result of our fraud or fraudulent misrepresentation or the fraud or fraudulent misrepresentation of our agents.

If we ever fail to comply with these terms and conditions and fail to provide you with electronic money services as agreed between us (other than due to circumstances beyond our reasonable control – see below), we will be liable to you for the reasonable losses you incur as a result.

Our liability for these losses will be limited to a maximum amount equal to the fees you have paid to us for our services and the Ziglu account in the twelve months prior to the date of the issue giving rise to our liability.

Provided that you are contracting as a consumer (i.e. you are only using your Ziglu account for purely personal purposes outside your business, trade or profession), we will also be liable for losses which are a reasonably foreseeable consequence of our failure, save that we will not be responsible for loss of profits or savings or of anticipated profits or savings which arise from or could have arisen from any transaction (it being acknowledged and accepted by you and us that the sheer volatility of digital currencies and cryptocurrencies makes it impossible to foresee what such losses could amount to).

As referred to above, we will not be liable to you for any issues or failures arising as a result of any abnormal or unforeseen circumstances beyond our reasonable control, including but not limited to:

1. acts of God, natural disasters, fire, explosion, storm, flood, earthquake, subsidence, epidemic;
2. strikes, lock-outs or other industrial action;
3. civil unrest, commotion or riot;
4. invasion, terrorist attack or threat of terrorist attack, cyberattack, information warfare or attack, war (whether declared or not) or threat of or preparation for war;
5. infrastructure failure, internet failure, mobile communications failure, impossibility of the use of public or private telecommunications networks, failure of public or private transport;
6. governmental or regulatory authority acts, decrees, legislation, regulations or restrictions.

Nothing in this section or these terms and conditions excludes our liability to you for death or personal injury caused by our negligence, for fraud or fraudulent misrepresentation by us or our agents or any other matter for which it would be illegal for us to exclude or attempt to exclude our liability.

Except for the express statements set out in these terms and conditions, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use of and access to your Ziglu account, our services and the Ziglu app.

HOW WE CONTACT YOU AND USE YOUR DATA

We collect and retain information about you so that we can operate your Ziglu account. We may use third parties to process your personal information on our behalf.

We and our affiliates are committed to maintaining your personal data in accordance with legal requirements relating to the collection, storage and use of personal data. Except as required by law, or in accordance with these terms and conditions and/ or our Privacy Policy, which is available here, your personal information will not be passed to anyone without your permission. By accepting these terms and conditions and using our services, your account and/or the app, you agree to the terms of our privacy policy. You should print and keep a copy of our Privacy Policy together with these terms and conditions.

You can email us at our contact details below to request a hard copy of the Privacy Policy to be sent to you by post. No data is stored by us outside the European Economic Area (EEA).

If we suspect that we have been given false or inaccurate information, we may record and retain such suspicion together with any other relevant information.

If we receive false or inaccurate information and we identify or reasonably suspect any fraud or other illegal activities, then we will pass details to fraud prevention agencies and/or other relevant agencies to prevent fraud, money laundering, financial crime, financing of terrorism and other illegal activities.

We may check all personal information you give us with fraud prevention agencies and other organisations and we may obtain information about you from credit reference agencies to verify your identity.

You must tell us by email as soon as possible of any changes to your name, postal address, telephone and email address so that our records are accurate, complete and up to date. You must provide any document that we request to confirm the changes.

We will not be liable for any losses arising out of your failure to update us of any changes to your details.

We may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence to do so.

We will communicate with you primarily by email or by posting information within the Ziglu app. It is your responsibility to ensure that you are able to receive and send emails and have the required access to the Ziglu app. We may also communicate with you by post and telephone.

We may monitor and/or record telephone calls we have with you to help us maintain and improve the quality of service and for fraud and crime prevention and detection purposes.

HOW YOU CAN CONTACT US

If you have any feedback, questions, issues or complaints, please do not hesitate to contact our Customer Support.

Customer Support can be reached via the Ziglu app or by email at [email protected]. You can also write to us at Ziglu Customer Support, Ziglu, 1 Poultry, London EC2R 8EJ.

Complaints

If you do have a complaint regarding any matter, please do contact Customer Support, as mentioned above, providing details around the cause of your complaint, how you would like the complaint to be resolved and any other information you believe may be relevant.

All complaints will be investigated in accordance with our complaints procedure. A customer complaints officer will consider your complaint based on the information you have provided.

Within 15 business days of the day on which we receive the complaint from you we will send a final response to you. However, in exceptional circumstances which are beyond our control, we may send you a holding response within that period, indicating the reasons for the delay, and a final response no later than thirty-five business days from receipt of the complaint.

The response will: (i) offer to resolve your complaint in the way you had requested; or (ii) explain why your complaint has not been upheld; or (iii) offer to resolve your complaint in an alternative manner we deem reasonably appropriate.

Any offer of resolution made to you will only become binding on us if it is accepted by you. It will not constitute any admission of any wrongdoing or liability in relation to the subject matter of your complaint.

If you complain and we do not resolve your complaint to your satisfaction, you may also be able to refer your complaint to the Financial Ombudsman Service: http://www.financial-ombudsman.org.uk/ You can contact them by telephone on 0800 023 4567 or 0300 123 9 123, Monday to Friday – 8am to 8pm, Saturday – 9am to 1pm or email: [email protected]. You can also write to them at Financial Ombudsman Service, Exchange Tower, London E14 9SR.

OUR INTELLECTUAL PROPERTY RIGHTS

Subject to your continued compliance with these terms and conditions, you may use your Ziglu account, the Ziglu app and our services.

We grant you a limited, non-exclusive, non-sublicensable, and non-transferable licence, subject to these terms and conditions, to access and use your Ziglu account, the Ziglu app and our services solely for approved purposes as determined by us. Any other use is expressly prohibited.

We expressly reserve all rights in and to Ziglu accounts (including yours), the Ziglu app, our services and all content, materials, information and data related to the same. You agree that we do not grant you any rights in or licenses to your Ziglu account, the Ziglu app and our services except for the limited licence set out above.

You must not, and you agree not to, modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on your Ziglu account, the Ziglu app or our services, in whole or in part.

“Ziglu” and all logos related to your Ziglu account, the Ziglu app and our services are either trademarks, or registered marks of Ziglu or its licensors. You may not copy, imitate, or use them without our prior written consent. All right, title, and interest in and to the Ziglu app and our services, any content thereon, your account and all technology and any content created or derived from any of the foregoing is the exclusive property of us and our licensors.

We grant you access to use our products and services, but we still own and retain the intellectual property rights associated with these products and services.

UNUSED ACCOUNTS/UNCLAIMED PROPERTY

In the event that we detect that there has been no activity on your Ziglu account for a prolonged period of time, we may suspend or ‘close’ your account until such time as you request it is reopened in writing to us. At such time, we may require you to reverify your identity in line with our procedures above. We may also be required to report any funds held on your account as unclaimed property where applicable. If this is the case, we will endeavour to contact you at the contact details shown in our records. If we are unable to locate you, we may be required to transfer such funds if/as legally required.

If you no longer wish to use your account, please just notify us and we can help you follow the closure procedures to ensure a smooth termination of the relationship.

GOVERNING LAW

These terms and conditions and your relationship with Ziglu and any dispute or claim arising out of or in connection with them or their subject matter (including non-contractual disputes or claims) shall at all times be governed by and construed in accordance with the laws of England and Wales. You and we hereby agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this agreement or its subject matter (including non-contractual disputes or claims).