Customer terms

Before you can use the services referred to below, you must agree to enter into an agreement with Ziglu Limited (Ziglu's Customer Terms and Conditions). Where you make use of the services, these are provided on the understanding that you have agreed to Ziglu's Customer Terms and Conditions.

1. Introduction

Ziglu Limited (Ziglu, we, us, our) is a company registered in England and Wales with company number 9204810 and whose registered office is at 201 Borough High Street, London, SE1 1JA. Ziglu is authorised and regulated by the Financial Conduct Authority (FCA) as an electronic money institution, with firm reference number 900977. Ziglu is not authorised or regulated for the purposes of fiat currency exchange, cryptoasset services or for making payments in cryptoassets within the Ziglu community as these are not activities which the FCA regulates.

These terms and each of the documents we refer to in these terms form the contract between us and you in relation to your use of our services, including our Fees Page, Cryptoasset Risks Disclosure and Privacy Policy. Additional terms apply when using specific services as follows:

• Exchange Transaction Terms
• Payments Terms
• Boost Terms
• Payment Card Terms

By using our services you agree to be bound by these terms which are provided on our website at www.ziglu.io/customer-terms.

2. Our regulatory status

Ziglu’s authorisation relates to the provision of electronic money and payment services. This means that Ziglu is providing a regulated service when Ziglu issues e-money, and when you make payments with Ziglu in fiat money via the Ziglu app. 

Ziglu’s authorisation does not relate to its cryptoasset activities and exchanging fiat currencies. Your use of our exchange services, Boost, and making payments in cryptoassets are not regulated by the FCA. Although Ziglu is registered with the FCA for money laundering purposes, this does not indicate any approval by the FCA of Ziglu’s cryptoasset activities.

3. Eligibility for a Ziglu account

You may only use our services if:

• you are resident in the United Kingdom,
• you are over the age of 18 and have legal capacity to comply with your obligations under these terms, and
• you use our services only for yourself as an individual in your personal capacity and not on behalf of any other person or entity or for commercial trading.

By using our services you confirm and represent that all the above are true.

In using our services you are responsible for all activity that occurs on your Ziglu account and via your mobile device connected with/to your Ziglu account, and you must not allow any third party to make use of our services.

You may not hold more than one Ziglu account at any time. If you open or attempt to open more than one Ziglu account, any additional account may be suspended or closed at any time by us without prior notice to you.

4. Opening a Ziglu account

Before you can use our services, you will need to give us any information and documentation we request to verify your identity and run due diligence checks we deem appropriate to ensure we comply with our legal and regulatory obligations.

Once your application is successful, you may load fiat money into your Ziglu account, using the details available via the Ziglu app and one of our approved payment methods. Our approved payment methods may include as and when available: bank transfer using Faster Payments, a credit or debit card or Apple, Android or Google Pay. Your Ziglu account will show loaded funds once we have received them.

5. Your obligations

When using our services, you must comply with all of your obligations as set out in these terms, as well as all applicable laws and regulations.

You must:

• provide us with whatever information we request, and this may include information for the purposes of satisfying our own regulatory and compliance obligations, including money laundering checks, prevention of terrorist financing and Know Your Customer (KYC) checks.
• ensure that there are always funds / cryptoassets in your Ziglu account - if you have a negative fiat balance, you must immediately credit sufficient funds to extinguish the negative balance, otherwise we reserve the right to automatically exchange any cryptoassets we hold on your behalf to do so.
• determine, report and pay any taxes arising from your use of our services to the appropriate tax authority – although we may deduct or make any tax withholdings or filings that we are required by law to make, we are not responsible for determining whether taxes apply to your use of our services, or for collecting, reporting, or remitting any taxes arising from your use of our services.

 You must not, and not attempt to:

• do any act or thing which constitutes, may constitute or leads to an offence under any applicable law, or use our services to engage in any unlawful, wrongful or immoral activity of any kind.
• use funds in relation to our services which come from illegal sources.
• violate the rights of any person or otherwise interfere with their enjoyment of our services.
• attempt to exploit any vulnerability, circumvent any security measures we have in place or interfere with or otherwise harm the proper working of our services, the Ziglu app and any Ziglu account or otherwise introduce, nor permit the introduction of, any viruses, bugs, glitches, spyware, malware, adware or other harmful or deleterious programs, material, code or software (any “Virus”) into our systems.
• use your Ziglu account or our services in such a way as to constitute a tax evasion or avoidance offence or any facilitation of any tax evasion or avoidance offence.

You are required to notify us if you become aware you have breached, or may have breached, any of your obligations under these terms.

6. Keeping your Ziglu account secure 

To use our services you will create login details, which you should not disclose to anyone else and must keep them safe, secure and confidential, along with the mobile device you use to access the Ziglu app and your Ziglu account. You may only access your Ziglu account from one mobile device and you should keep it safe and secure from use by anyone else.

We recommend you download and install all updates for the Ziglu app to your mobile device as soon as they become available, so that you have the latest version of the Ziglu app available.

7. Loss or unauthorised use of your Ziglu account 

If you see or suspect any security breach, unauthorised use, or loss or misappropriation of your Ziglu account or mobile device or anything else suspicious you should:

• immediately restrict your Ziglu account and freeze your debit card via the security and PIN features in the Ziglu app to prevent it being used.
• contact us without undue delay by email to [email protected].
• help us investigate by providing us with all relevant details.
• stop using your Ziglu account until we confirm that it can be used again.
• take any other steps we inform you of.

When we contact you we will use SMS, telephone, post or another secure method, and we may ask you to verify your identity.

Funds can still be loaded to your Ziglu account while it is frozen but you’ll be unable to access them until we confirm that your Ziglu account can be used again.

We aim to resolve issues reported to us as quickly as possible, but we can’t guarantee that we will be able to prevent any unauthorised use of your Ziglu account to spend, exchange or remove funds or cryptoassets.

8. How we hold your e-money and cryptoassets 

Although we are not covered by the Financial Services Compensation Scheme, we have other protections in place to help protect your e-money and cryptoassets.

E-money

Your fiat money is held as e-money in a bank account with a bank. We are required to ringfence all of our customers’ funds in a segregated bank account. This ringfencing is known as ‘safeguarding’. We cannot use our customers’ funds for our own business or to lend to other customers and we cannot pay interest on our customers’ funds. We can deduct from your account any fees and expenses properly owed to us. If Ziglu were to go out of business it could take longer for your money to be refunded than if we were a bank, but you should still get most of your money back (however some monies might be used to pay the costs of an administrator or liquidator).

Cryptoassets

We hold your cryptoassets on your behalf in a bare trust, except we can sell cryptoassets and use the proceeds to  pay our fees. We arrange to hold your cryptoassets in custody using our partners  on a pooled basis with our other customers. The majority of customers’ cryptoassets are stored in offline wallets which are not accessible from the internet, and so which are at low risk of cyber-attack.

We partner with custodians with insurance in place from third-party underwriters to protect against cyber attacks and we believe this is an indication that they have a robust storage solution.

If you hold Boost accounts, your cryptoassets are taken out of the trust and legal ownership is passed in its entirety to Ziglu. We can then deal with these cryptoassets as we at our absolute discretion see fit and for our own commercial purposes. When you use Boost, you have a contractual claim for cryptoassets you have lent us.

9. When we are not responsible to you 

 We’re not responsible for any loss that is due to:

• you not complying with your obligations under these terms or any notice or alert we send you;
• one or more of the risks identified in our Cryptoasset Risks Disclosure materialising;
• a delay in our customer support response time;
• our services becoming degraded or reduced, or even unavailable, during times of significant volatility or transaction volume;
• your login details or mobile device being compromised where this is not due to our fault;
• the Ziglu app or any email or attachment from us not being free from any Virus;
• events outside our reasonable control;
• an action or inaction we take to comply with our legal and regulatory obligations;
• any communication made by a person other than us;
• us exercising any of our rights under these terms; or
• anything else we specify we are not responsible for.

None of these terms affect your legal rights as a consumer. These terms don't exclude or limit our liability to you for fraud, fraudulent misrepresentation or otherwise where it’s against the law for us to do so.

10. Responsibility for cryptoasset activities 

We are responsible only for direct losses which are a reasonably foreseeable consequence of our gross negligence. We are not responsible for any loss of profit or savings. Our total liability is limited to the amount of fees you have paid to us for our services in the twelve months prior to the date of the issue we’re responsible for.

There may be situations, for reasons beyond our control, where we’re unable to complete an Exchange Transaction (as defined in the Exchange Transaction Terms), or, in relation to Boost (as defined in the Boost Terms), we’re unable to return your cryptoassets to you or pay interest. This includes situations where there are problems with the exchanges we use / lend cryptoassets to, for example a technical or solvency problem with an exchange could impact our ability to fulfil our obligations to you. Although we will act in good faith, we can delay completion of the relevant Exchange Transaction(s) or, in relation to Boost, stop paying interest and delay returning your cryptoassets to you while the situation is resolved, and we do not accept any responsibility for any loss as a result.

11. How we contact you and use your data 

We may ask for information from time to time in line with our policies and regulatory requirements, and you must provide us with all requested information and inform us of any changes to any information provided. We will treat all of this information in accordance with our data protection and other legal obligations, including in accordance with our Privacy Policy, which is available via our Ziglu app and on our website.

By applying for a Ziglu account and to receive our services, you authorise us to make any enquiries we consider appropriate, whether directly or via third parties, to verify your identity, to protect you and us against fraud or other financial crime and to take any action we consider appropriate based on the results of these enquiries and our ongoing legal obligations. The personal information we collect from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found by accessing this page: https://www.cifas.org.uk/fpn.

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.

These checks can result in a delay to you being able to access your Ziglu account, and to the speed at which we  carry out your instructions. You accept that our obligations are ongoing while you continue to be a customer of Ziglu and we may repeat checks and verification or carry out additional or enhanced due diligence. Your continued use of our services is contingent on these checks being satisfied.

We can store all the information about you and your transactions while you are our customer and for up to 7 years after your Ziglu account is closed.

12. Communications 

Communications rules

Whenever you communicate with our staff, or use our services to upload content or send a communication, that communication must not:

• do anything that is unlawful;
• communicate any illegal content or activity; 
• be defamatory, obscene, offensive, hateful or inflammatory; 
• bully, harass, insult or intimidate; 
• include any racist, sexist, sexualised or violent language; or
• cause annoyance, inconvenience or anxiety, upset, alarm or distress.

You must comply with the rules for communications in spirit as well as to the letter, and we will decide, at our discretion, if a communication does not meet these requirements. If we decide that you have breached our communication rules, we may suspend or close your account immediately. 

If you see any communication that you believe breaches our communications rules, you should let us know and we will  investigate. 

We are not responsible if a person breaches the communications rules when using our services, whether or not we take any action as a result.

Communications with us

All our communications with you will be in English, and we may communicate with you by phone, email or by post using the contact details you have given us.

You can contact us by emailing [email protected]. You can also write to us at 201 Borough High Street, London, SE1 1JA. 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.

You are responsible for ensuring the information you provide to us is accurate, complete and up to date, and you must update us as soon as possible if any information changes and provide us with any document we request to verify the changes. We are not responsible for any loss caused by you not updating us about any changes to your details. We will record any suspicion that we have been given false or inaccurate information.

Communication by SMS and email is vulnerable to spoofing, smishing, phishing so you should use care when reviewing messages that appear to come from Ziglu to ensure they genuinely come from us.

13. Complaints 

If you have a complaint, please contact Customer Support, providing details of your complaint, how you would like it resolved and any other relevant information. A complaints officer will consider your complaint in accordance with our complaints handling policy, which we can let you have for free if you contact Customer Support.

In the UK complaints about our e-money services or making payments in fiat money can be referred to the Financial Ombudsman Service if we do not resolve your complaint to your satisfaction. You can contact the Financial Ombudsman Service 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 the Financial Ombudsman Service, Exchange Tower, London E14 9SR.

You will not be able to make a complaint about our cryptoasset services to the Financial Ombudsman Service.

14. Intellectual Property 

We are the owner or the licensee of all copyright and intellectual property rights that exist in connection with our website (including any content on our website), our services, the Ziglu app and the Ziglu account. You have the right to use any of these materials only for the purpose of using our services through the Ziglu app or Ziglu website. Any other use is expressly prohibited.

You may not copy, imitate, or use our trade marks, trading names or logos without our prior written consent.

15. Inactive accounts 

If there has been no activity on your Ziglu account for a prolonged period of time, we may suspend or close your Ziglu account until you ask us in writing to reactivate it. We may require you to re-verify your identity. We may also be required to report any funds held on an inactive Ziglu account as unclaimed property or to transfer them. We will always try to contact you before doing so.

16. Suspension and ending this agreement 

You can close your account with us without charge by giving us notice in writing.  We may close your account at any time by giving you 2 months’ notice in writing. 

We may also close or suspend your account immediately at any time:

• for security, legal or regulatory reasons;
• if you breach these terms repeatedly or in a serious way;
• if you haven’t given us information we need, or we believe that information you have provided is incorrect;
• if you breach our communication rules;
• if you have died or been declared bankrupt; or
• if we suspect your Ziglu account or any of our services has been or is being used without authorisation, illegally or fraudulently.

We may also suspend access to our cryptoassets services where there is significant volatility or turbulence in the cryptoasset markets, as required to mitigate a risk such as those identified in our Cryptoasset Risks Disclosure, or where required to protect our reputation. 

We may require you to re-complete our identification and verification procedures to initiate account closure. If your Ziglu account holds a balance, we may take up to 60 days to return your funds to you (including to liquidate any cryptoasset you hold with us), or longer if required to fulfil a legal and / or regulatory obligation. We will return your funds to you by way of a bank transfer to a nominated UK bank account in your name.

After your account is closed, you will remain responsible for paying any outstanding sums due to us. Any pending instructions and transactions you have will be cancelled with immediate effect and you will no longer be able to use your Ziglu account or our services.

We are not responsible for any loss as a result of a suspension or closure.

17. Changes

We will give you at least 2 months’ notice of changes relating to a regulated payment service, except we may provide shorter advance notice or make changes with immediate effect if permitted by law (e.g. if the changes relate to (i) the addition of new services; (ii) favourable changes to interest or exchange rates; or (iii) changes in legislation or regulation).

Otherwise, we may also make changes for example:

• because of changes
  - in the services we provide (including discontinuing a service or product where it is no longer commercially sensible for us to provide it), 
  - to markets,
  - to our risk profile,
  - to the exchanges available to us and their offerings,
  - to the costs of funding our services and products,
  - to the basis on which we safekeep your cryptoassets and funds,
  - to the technology and systems we use,
  - to applicable law, regulation and market practice (including the costs of complying with such),
• to protect against perceived risks outside our control, 
• to give customers the benefit of limited time promotions from time to time, and 
• for any other valid reason. 

We will give you reasonable notice of any such changes to these terms, or we may make changes with immediate effect where they are in your favour or relate to the addition of new services.

We will notify you of any changes by email. You will be treated as accepting any change that we make to these terms unless you tell us that you do not agree to the change, in which case you can end your agreement with us without charge by giving us notice at any time before the date the change comes into effect.

18. Governing Law

These terms, their subject matter and their formation, and any non-contractual obligations arising out of or in connection with them are governed by the law of England and Wales and the courts of England and Wales have non-exclusive jurisdiction to determine any dispute arising out of or in connection with them.  If you are resident in Scotland you may also bring proceedings in Scotland and if you are resident in Northern Ireland you may also bring proceedings in Northern Ireland.

19. App store terms 

If you download the Ziglu app from an app store or distribution platform, these terms are solely between you and Ziglu and not with the provider of the app store or distribution platform. We are solely responsible for the Ziglu app and any issues or problems should be directed solely to us.

Your use of the Ziglu app must comply with any relevant terms of the app store or distribution platform via which you download the Ziglu app but the provider of the app store or distribution platform shall have no responsibility to you with respect to the Ziglu app or these terms and you accept that the relevant provider is a third-party beneficiary of these terms.

20. Our right to close your position in cryptoassets 

We may, acting in good faith, close your position in any of the cryptoassets you hold with us as beneficial to mitigate the risks of any service we provide (including as a result of a cryptoasset potentially no longer being traded on the exchanges we use), or  to comply with a legal or regulatory requirement (including for financial crime reasons). If we exercise this right, we will sell the relevant cryptoassets we hold for you at the rates available to us at the time, and pay the proceeds to your Ziglu account. We will try to let you know in advance by email before closing your position, but if this is not feasible, we will notify you as soon as possible after we’ve closed your position, unless this may breach a legal or regulatory requirement. So long as we act in good faith, we will not be responsible for any loss as a result of closing your position, and we may apply our standard fees for Exchange Transactions to the sale of your cryptoassets.

21. Miscellaneous

The words "includes", "including" or "for example" are deemed to have the words "without limitation" following them.

If any of these terms is found by a court or body or authority of competent jurisdiction to be illegal, unlawful, void or unenforceable, the term will be severed from these terms and this will not affect the remainder of these terms.

Except as stated at clause 19, a person who is not a party to these terms shall have no right to enforce any of these terms whether under the Contracts (Rights of Third Parties) Act 1999, or otherwise.

If we do not enforce any of our rights under these terms, that does not mean we have waived any of these rights. A waiver is only effective if we give it to you in writing.

These terms and the documents referred to in them are the entire agreement between you and us and supersede any prior agreement or terms . You acknowledge and agree that you have not relied upon any statement, representation or understanding which is not expressly set out in these terms, and your only remedy for any breach shall be for breach of contract.

These Exchange Transaction Terms form part of Ziglu’s General Terms and set out additional terms in relation to making Exchange Transactions in fiat currencies and cryptoassets. You must read our Cryptoasset Risks Disclosure before dealing in cryptoassets and this represents a high risk investment.

1. Exchange Transactions 

You can use your Ziglu account for Exchange Transactions in the cryptoassets and fiat currencies we support, as listed in the Ziglu app. An “Exchange Transaction” is when a cryptoasset is bought or sold for GBP, or where one cryptoasset is exchanged for another, or an exchange between GBP and EUR or USD. We do not currently support exchanging between cryptoassets and EUR or USD. 

Exchange Transactions are made by following the steps shown in the Ziglu app. Prices shown in the Ziglu app when making an Exchange Transaction are indicative, and so are not guaranteed. You are not able to cancel any Exchange Transaction and so before making any transaction you should make sure that you are certain you want to proceed.

When you make an Exchange Transaction in the app, we will provide you with a price based on the price available to us on the exchanges and / or information providers we are linked to at the time.  In relation to Exchange Transactions in fiat money (i.e. GBP / EUR or GBP / USD), during times when the forex markets are closed or in times of potential market volatility or stress, the rate we quote may include an additional spread of up to 40 bps designed to protect us against the risk of changes in the market price of forex. 

2. Scheduled exchanges

You can set up scheduled exchanges, meaning that you instruct us to convert a specified GBP amount into a cryptoasset or non-GBP fiat currency at specified periodic intervals from your Ziglu GBP account.

The exchange will be made using the rate available to Ziglu at the time of each scheduled exchange provided by our third-party exchange(s) and / or information provider(s). We are unable to guarantee the exchange rate used for any Exchange Transaction(s).

If you wish to cancel a scheduled exchange, you need to cancel before the end of the working day before the payment is due to leave your account, otherwise the payment may be processed.

If you do not have enough GBP in your Ziglu account to pay for a scheduled exchange when it is due to be processed, this exchange will fail but any further scheduled exchanges will still be attempted.

3. Funds

You can only make an Exchange Transaction if you have enough funds or cryptoassets to do so at the time the exchange is processed. In the Ziglu app we show the exchange price net of our fees. 

4. Services we do not provide 

We do not give advice

We do not give advice. By offering access to any cryptoasset or fiat currency, or giving you information about any cryptoasset or fiat currency, we are not providing any type of recommendation or approval. You must not rely on any information we give you when making your decision whether to make an Exchange Transaction. You must only make these decisions based on your own assessment of the risks and benefits of the transaction and take your own independent advice where you see fit.

We don’t give any warranty, guarantee or representation about the suitability of any asset we offer. You must read the Cryptoasset Risks Disclosure before making any Exchange Transaction in cryptoassets. If you are unsure as to whether any Exchange Transaction is suitable or appropriate for you, you should ask an adviser to give you independent expert advice.

We do not guarantee exchange rates

Although we’ll provide you an exchange rate, we don’t guarantee the exchange rate used for any Exchange Transaction(s). This is because the actual exchange rate applied is based on a rate provided by third-party exchange(s) and / or information provider(s). The actual exchange rate we use fluctuates, and so the rate applied to Exchange Transaction(s) could be different to the rate we show in the Ziglu app. As such, the amount of cryptoassets / fiat currency you receive may be different to, and less than, that which would be the case if the shown exchange rate were applied.

We do not give any tax or reporting advice

We do not give any tax advice, UK or elsewhere, related to our services or products. You should take your own tax advice if you are unclear about your tax or reporting position.

5. Exchange transaction restrictions, limits and thresholds, and manifest error 

We can restrict access to, and impose limits on the value or volume of, Exchange Transactions you can make for any reason, and we can impose a minimum amount for making an Exchange Transaction.

We may also cancel an Exchange Transaction where there is a manifest error in the price of a cryptoasset as shown by us, in which case we will give you the ability as soon as commercially practicable to acquire the cryptoasset at the correct price. A manifest error is where the purported price of a cryptoasset is so clearly different to that reported by exchanges generally that it is clearly inaccurate, and this may happen because of a computer error.

We will notify you of any cancellation, restrictions, limits or minimum amounts we set as soon as we reasonably can by email or via the Ziglu app. 

6. Our responsibility to you 

Sections 9 and 10 of Ziglu’s General Terms set out important information regarding our liability. Additionally, so long as we act in good faith, we also do not accept responsibility for:

• our services being interrupted;
• any Exchange Transaction not being executed or accepted, or being cancelled, by an exchange we use;
• any delay in processing an Exchange Transaction;
• a lack of liquidity in the market for an asset; or
• our refusal to carry out Exchange Transaction(s) for you if we have good reason to believe it could harm our reputation.

These Payments Terms form part of Ziglu’s General Terms and set out additional terms relating to making payments.

1. The types of payments you can make 

You can make or receive payments:

• in GBP, EUR or USD or the cryptoassets we hold on your behalf with other Ziglu account holders.
• in GBP with people within the United Kingdom and the European Union.

2. Execution of payments 

You make a payment by following the process set out in the Ziglu app. You will need to confirm any payment and input your passcode. When you confirm, you order us to make the payment and you cannot cancel this order. Orders made on a non-business day, or made after 4 pm, we treat as received on the next business day. Your payment will reach its destination before the end of the business day following your order, except sometimes we may for regulatory reasons require further information before making a payment, and will not process a payment before we have this. Reference to a business day is to a business day in England.

The status of payments is shown in the Ziglu app. You can access information on your payments for at least 13 months after the transaction.

3. Standing Orders

You can set up standing orders, meaning that you instruct us to pay a specified GBP amount at specified intervals from your Ziglu account to another account.

To set up a standing order you need to input into the Ziglu app the recipient’s name, account type, account number and sort code. You also need to confirm the frequency of the recurring payment and the payment date.

If you wish to cancel a standing order, you need to cancel before the end of the working day before the payment is due to leave your account, otherwise the payment may be processed.

If you do not have enough GBP in your Ziglu account to pay a standing order when the payment is due to leave your account, this payment will fail but any further scheduled payments will still be attempted. We do not convert your other fiat and cryptoassets held with us into GBP to continue to meet your obligations under a standing order.

4. Limits and insufficient funds 

If you wish to make payment in a fiat currency or a cryptoasset, however do not hold enough of that fiat currency or cryptoasset in your Ziglu account, then you will need to convert another fiat currency or cryptoasset into that used to make the payment before we will accept the payment order. Otherwise we will not process the payment the payment if you do not have sufficient funds in the relevant fiat currency or cryptoasset to make a payment.

We can also set limits on the value or volume of payments you can make. We will display limits on the Ziglu app and we can change these by notifying you by email or via the Ziglu app. We are not responsible for any loss as a result of any limit we impose or refusal to make a payment due to insufficient funds. 

5. Incorrect payments 

You must make sure that the details of the recipient you provide to us are correct, since as long as we make a payment you instruct us to make this is a correct payment and we do not provide refunds. We will use reasonable efforts to help you recover a payment. If we are unable to recover your funds, we will let you have any additional information we have that you can use to claim repayment of the funds.

If you suspect that we have made a payment incorrectly you must tell us as soon as possible by by email to [email protected]. If you suspect a security breach or that someone has had unauthorised access to your Ziglu account, you should immediately restrict your Ziglu account and contact us in accordance with section 7 of Ziglu’s General Terms. So long as you do so, and contact us no later than 13 months after an incorrect payment, we will refund you the incorrect payment. We will also on request and without charge try to trace any incorrect payment and notify you of the outcome. We will not give a refund if you have acted fraudulently, or have failed to keep your security details safe.

If you receive an incorrect payment, you give us permission to return that payment to the sender.

6. Information on individual payment transactions 

You can ask us to give you a statement of the activity on your account which includes any charges. We will let you have the statement by email or through the Ziglu app.

These Boost Terms form part of Ziglu’s General Terms and set out additional terms relating to using Boost. Using Boost represents a high risk investment.

1. Boost

When Boost is available in relation to a specific cryptoasset, you may transfer that cryptoasset to Ziglu to generate yield. Ziglu reserves the right to use the cryptoassets transferred to us at our discretion, including transferring them to selected third parties. In return, we will pay you a yield in the same cryptoasset you transferred to Ziglu.

To transfer a cryptoasset to us, you must first acquire it. You can provide us with cryptoassets you already hold in your Ziglu account, or we can facilitate the exchange of cash into cryptoassets for you, which can then be transferred into Boost. To sell your cryptoassets, you must first withdraw them from Boost. All buying and selling of cryptoassets will be conducted in accordance with our Exchange Transaction Terms.

If you opt to use our Sterling Boost account, your pounds sterling may be exchanged into a cryptoasset, such as a stablecoin like USD Coin (USDC). When exchanging into a stablecoin, we maintain the buy and sell spot rate respective to the value, at a fixed exchange rate to sterling of 1:1.

Each Boost account operates independently and there may be differences among them, including but not limited to, the amount you can invest, the yield provided and the availability of accounts for particular cryptoassets.

Please note that Boost is an unregulated product. It does not offer the same regulatory protections as a traditional bank deposit account.

2. Limits

We may impose limits on the use of Boost, including but not limited to, the amount you can invest and the duration of the investment. Any applicable limits will be communicated via the Ziglu app.

3. Yield 

Yield is paid in arrears every Saturday. All yield is automatically reinvested and compounded over time. If your account or access to Boost is suspended for any reason, yield payments will be suspended for the duration of that suspension.

4. Changes to Limit and Yield

We reserve the right to change the yield provided under certain circumstances, including but not limited to:

• changes in the yield available to us from our selected third-parties
• adjustments in the risk profile of yield-generating opportunities
• mitigation of perceived risks from our selected third parties
• changes in the cost of providing Boost
• Legal, regulatory and market practice changes
• tax implications
• other valid reasons

We will provide you with seven days' notice before making any changes, unless the change is in your favour, in which case it may be implemented immediately. Notifications will be sent by email or via the Ziglu app. If you do not accept the changes, you must withdraw your cryptoassets from Boost and discontinue using the service. There will be no charge for withdrawing your cryptoassets.

For further information regarding our ability to make changes to these terms, please refer to clause 17 of Section A: General Terms.

5. Risks

We do not provide any advice, warranty, guarantee or representation regarding the suitability of Boost. If you are unsure about the appropriateness of Boost for you, you should seek independent expert advice. Below are some of the risks associated with using Boost. While we may attempt to mitigate these risks, we are not liable for any losses should they materialise.

Cryptoasset risks

By using Boost, you are dealing in cryptoassets and all risks outlined in our Cryptoasset Risks Disclosure apply at all times. Yield is paid in the same cryptoasset provided to Ziglu, and any fluctuations in the value of the cryptoassets are at your risk.

Forks and Airdrops

We explain the concepts of  Forks and Airdrops, along with the associated risks in our Cryptoasset Risks Disclosure. We reserve the right to decide whether to support a Fork or Airdrop for cryptoassets in your Boost account separately from those held in your Ziglu account.  Different decisions may be made for Boost accounts and Ziglu accounts.

Ownership risk

Ziglu has full discretion over the cryptoassets provided via your Boost account, including transferring them to selected third-party partners. You do not have oversight or control over these cryptoassets and any gain or loss from our activities will be borne by Ziglu. However, if the selected third-parties default on their obligations to Ziglu, we may impose limits on your use of Boost or reduce the yield we are willing to pay. In severe cases, we may become unable to meet our obligations to you. While we cannot eliminate this risk we conduct due diligence on all third parties we deal with and manage exposure by limiting customer deposits in Boost accounts.

In the event of Ziglu’s insolvency, you would become a general unsecured creditor of Ziglu, and there is a risk that you may not recover the full amount of cryptoassets provided to Ziglu using Boost.

Regulatory risk

The regulatory environment of Boost is still evolving. Future changes in regulation may require us to make adjustments that could affect our ability to continue offering Boost.

Tax implications

When using Boost, HMRC may consider that you have realised profits on your cryptoassets, potentially making you liable for capital gains tax, if annual allowances are exceeded. You may also be required to pay income tax on yield generated from Boost.

We do not charge for adding or withdrawing funds from your Ziglu account or for making payments, using Boost or holding a Ziglu account.

For each cryptoasset Exchange Transaction, we charge a fee of 1.25% of the value of the transaction. This fee will be deducted from your Ziglu account at the time of the transaction. If you don’t have sufficent funds to cover this fee, the transaction will not be processed and Ziglu will not be liable for any resulting losses. You will need to either add additional funds to your account or reduce the amount you want to exchange.

Cryptoassets are a high-risk investment and you could lose all the money you invest.  Consider whether dealing in cryptoassets is suitable for you in light of your financial situation and risk appetite.

Exchange risk

We rely on third-party exchanges to complete transactions.  Delays or failures may occur if an exchange is unable to complete a transaction. Exchange rates are not guaranteed and the rate displayed in the Ziglu app may differ from the final rate you receive.

While we strive to work with reliable exchanges, there are inherent risks, such as their being hacked, having a vulnerability or Virus, undergoing maintenance, facing solvency issues, fraud or negligence.

Custody risk

Although we use insured crypto custodians, there is still a risk that they could be hacked or lose your cryptoassets, and there is no guarantee they will be able to compensate for any resulting financial loss.

As the legal nature of cryptoassets is uncertain, there is no guarantee that they can be held in a valid trust. If the trust in which we have placed your cryptoassets is ineffective and if we, or the custodian we use, become insolvent, there may be a shortfall in the cryptoassets returned to you.

Any loss or shortfall will be shared between you and our other affected clients, based on the size of your and their holdings. There may also be a delay in returning cryptoassets if an insolvency occurs.

Volatility

The value of cryptoassets has historically been volatile and can experience large value decreases, for example, if there are sudden losses of confidence by market participants. Cryptoasset markets are underdeveloped and there is a risk of market abuse, market manipulation or a sudden lack of liquidity. You may also lack full and complete information on which to make investment decisions when dealing in cryptoassets. 

Viruses

Cryptoassets are built on blockchain networks, software protocols and code which may be attacked, or they may contain weaknesses, vulnerabilities, Viruses or bugs that undermine the value, security, functionality or operation of the cryptoasset.

Forks and Airdrops

The underlying protocols of cryptoassets may be subject to substantial changes in their operating rules (this is called a Fork), and these may alter the value or function of a cryptoasset. A Fork may result in multiple versions of a cryptoasset, leading to volatility as one version becomes dominant over another, which may lose its value.

There may be distributions made to holders of a particular cryptoasset, for example of a new variant of a cryptoasset (this is called an Airdrop).

We will assess at our sole discretion whether we support a Fork or Airdrop, and we may treat cryptoassets held in your Ziglu account differently to those held in your Boost account. If we support a Fork or Airdrop, we will make an announcement via the Ziglu app and/or by email. If we do not support an Airdrop or Fork, we will not claim it for our own benefit (unless this is unavoidable or impractical).

Regulation

Cryptoasset regulation is continuously evolving and new rules may significantly impact the use, transfer, exchange and value of cryptoassets. These changes may also affect our ability to provide services.

Tax implications

You may be liable to pay capital gains tax on any profits realised from cryptoasset investments if annual allowances are exceeded. Income tax may also apply to yield generated through Boost. It is your responsibility to seek tax advice and ensure proper reporting of income and gains. 

Other risks

There may be additional risks associated with dealing in cryptoassets, including unforeseen risks that may arise in the future. Different cryptoassets have unique features that can affect their risk profiles and it is your responsibility to understand these features. Past performance is not indicative of future results.

These Payment Card Terms form part of Ziglu’s General Terms and set out additional terms (the Agreement) relating to requesting and/ or using a Card.  This Agreement is effective and binding on you upon your activation or use of your Card for the entire period of validity of your Card.

1. Definitions & Interpretation:

Card Account

The area on the Ziglu App that allows you to view your transaction history and carry out other Card-related functions.

Agreement

These terms and conditions relating to the use of your Card(s) as amended from time to time.

Applicable Law

Any applicable law (including but not limited to, any local law of the jurisdictions into which the Card is provided and the Program is operated), statute, statutory instrument, act, regulation, rule, order, supervisory guidance, policy, instruction or requirement stipulated by an applicable Regulatory Authority, or interpretation promulgated or published by any Regulatory Authority, any order issued by a court having jurisdiction over a party, or any applicable rule or requirement of any Card Scheme related to the issuance, sale, authorisation or usage of the Card and/or services to be provided under this Agreement.

Available Balance

The value of unspent funds available for your use.

Business Day

Monday to Friday, 9am to 5pm current local time in England, excluding bank and public holidays in England.

Card

Any debit Card, whether Virtual or Physical, issued to you in accordance with this Agreement.

Customer Services

The contact centre for dealing with queries about your Card. You can contact Customer Services by: i. calling +44 20 3901 8605 (your network provider may charge a fee for calling this number); ii. e-mailing [email protected] from the email address registered to your Account; or iii. writing to Ziglu, 201 Borough High Street, London, SE1 1JA.

EEA

European Economic Area.

Expiry Date

The expiry date showing on your Card.

Fee

Any fee payable by you as referenced in the Fees & Limits Schedule.

Fees & Limits Schedule

The schedule contained in this Agreement.

KYC

Means “Know Your Customer” and constitutes our verification of your Personal Details.

Merchant

A retailer or any other person that accepts e-money.

Personal Data

The registered personal identity details relating to the use of your Card and Account including (but not limited to) your: name, date of birth, home address, email address and telephone (landline and/or mobile) number. Full details of the Personal Data which we process are set out in our Privacy Policy.

Physical Card

A physical/plastic Card that can be used to carry out Transactions.

PIN

Personal Identification Number; that is, the security number provided for use with your Card.

Regulatory Authority

As the context requires, any Scheme and/or any regulator or agency having jurisdiction over us related to the issuance, marketing, sale, authorisation or usage of the Cards, Program(s) or services provided under this agreement, including without limitation the FCA.

Schemes

Mastercard; Mastercard is a registered trademark of Mastercard International Incorporated.

Transaction

The use of your Card to make (i) a payment, or a purchase of goods or services from a Merchant where payment is made (in whole or in part) by use of your Card including where payment is made over the internet, by phone or mail order or (ii) a cash withdrawal made from an ATM or bank using your Card.

Username and Access Code

A set of personal codes selected by you in order to access the Ziglu App.

Virtual Card

A non-physical Card, the use of which is limited to online, phone or mail order purchases. For the avoidance of doubt, a Virtual Card cannot be used to make a cash withdrawal from an ATM or bank and any reference to such withdrawals or to a Physical Card in this Agreement excludes the Virtual Card.

Ziglu App

The Ziglu mobile application made available by us to you via your mobile device

Ziglu E-money Account

The electronic money account opened in your name in accordance with the Ziglu E-money Terms and Conditions entered into by you with Ziglu Limited.

we, us or our

Ziglu Limited (trading as Ziglu) with registration number 09204810 and registered address 201 Borough High Street, London, SE1 1JA, and authorised by the FCA as an electronic money institution.

you or your

You, the person who has entered into this Agreement with us by virtue of your use of the Card and any other person you have authorised to use any Cards in accordance with this Agreement.

2. Your Agreement and Card

2.1. Your Card is issued by us pursuant to a licence from the Scheme and your rights and obligations relating to the use of the Card are subject to this Agreement.

2.2. You can download or print the latest version of this Agreement at any time from the Website or Ziglu App.

3. Obtaining and activating your Card

3.1. To apply for a Card you must be at least 18 and a resident of the United Kingdom.

3.2. Cards may only be obtained upon successful completion of our KYC checks within the Ziglu App. We reserve the right to request additional identification documents and verification of your source of funds and/or wealth at any point.

3.3. You can order the Card through the Ziglu App under the ‘Cards’ section.

3.4. Once you receive your Card, you must activate it within the Ziglu App itself. You will be required to provide the last four digits of the Card number via the Ziglu App and your Card will then be activated and ready to use.

3.5. Upon activation of your Card you will be given the option to add your Card to a mobile payment wallet, subject to the availability of that mobile payment wallet.

4. Personal Details

4.1. When entering into Transactions over the internet, some websites may require you to enter your Personal Details and, in such instances, you should supply the most recent Personal Details that you have provided us with.

4.2. You must notify us of any change in your Personal Details as soon as possible by contacting Customer Services or updating the details via the Ziglu App. You will be liable for any loss that directly results from any failure to notify us of a change in your Personal Details as a result of undue delay, your gross negligence or fraud. We will need to verify your new Personal Details and may request relevant KYC information/documents from you as applicable.

4.3. We reserve the right at any time to satisfy ourselves as to your Personal Details (for example, by requesting relevant original documents) including for the purposes of preventing fraud and/or money laundering. In addition, at the time of your application or at any time in the future, in connection with your Card, you authorise us to undertake electronic identity verification checks on you either directly or using relevant third parties.

5. Using your Card

5.1. Your use of the Card is subject to the fees and limits detailed in the Fees & Limits Schedule, which shall be deducted from the Available Balance. Fees and limits may vary according to the type of Card and other taxes and / or costs may exist that are not paid via or imposed by us.

5.2. You can use your Card to debit funds from your Ziglu account. Initially your Card will be linked to your GBP currency account.

5.3. When the functionality becomes available, you will also be able to debit funds from multiple accounts where you have insufficient funds in one account to cover the full cost of a transaction. You will be able to select the order in which your accounts are debited within the Ziglu App once this functionality is available.

5.4. Unless we inform you otherwise, you can use the Card at any Merchant who accepts the Scheme to carry out Transactions.

5.5. If for any reason a Transaction is carried out but its amount exceeds the Available Balance, you must pay us the deficit immediately, and if you fail to do so after receiving a notification from us, we reserve the right to take all necessary steps, including legal action, to recover this deficit.

5.6. There are certain circumstances where a Merchant may require you to have an Available Balance greater than the value of the Transaction you wish to make and you will only be charged for the actual and final value of the Transaction. Merchants may request this as they may need to access more funds than you initially planned to spend, for example when making hotel or rental car reservations. If a Merchant has prior authorization on your Card, you will not have access to the relevant funds until the Transaction is completed or, if sooner, up to a period of 30 days. We will only block access to the exact amount of funds authorised by your relevant Card.

5.7. Your Card cannot be used where such Merchants are unable to obtain online authorisation that you have sufficient Available Balance for the Transaction (for example, but not limited to, Transactions made on trains, ships, some in-flight purchases and tollbooths). We accept no liability if a Merchant refuses to accept payment using the Card.

5.8. We do not recommend using a Virtual Card to purchase an item over the internet that subsequently would require the presentation of a physical reference device in order to obtain that item. Examples include certain theatre ticket purchases, hotel stays, car rentals, and online purchases picked up in person.

5.9. You must not use the Card for any illegal purposes.

6. Authorising Transactions

6.1. You will need to give your consent to each Transaction so that we can check it is genuine by, where applicable, a) using your PIN or other security code personal to you; b) signing a sales voucher; c) providing the Card details (whether through contactless or otherwise); (d) using facial recognition/3D security verification and/or fingerprint recognition authorisation and/or providing any other details personal to you and/or your Card. Once you have given such consent to the Transaction, it will be deemed to be authorised.

6.2. The time of receipt of a Transaction order is when we receive it. If a Transaction order is received after 4pm on a Business Day then it will be deemed to have been received on the next Business day.

6.3. Once a Transaction has been authorised by your Card and received by us, it cannot be revoked.

6.4. Where you ask us to make a payment: i. in euro; ii. executed wholly within the United Kingdom in sterling; or iii. involving only one currency conversion between the euro and sterling, provided that: (i) the currency conversion is carried out in the United Kingdom; and (ii) in the case of cross-border payment transactions, the cross-border transfer takes place in euro, we will ensure that the amount of the payment reaches the account to which it is to be sent by the end of the Business Day following the date on which your instruction is received.

6.5. Where a payment falls outside of clause 6.4 and is nevertheless to be executed within the EEA, we shall ensure the cash transfer to the Merchant’s payment service provider within 4 Business Days following the day on which the Transaction order is received. Certain Merchants may not accept payments made through the Card and we accept no liability for this: it is your responsibility to check the restrictions of each Merchant.

6.6. Your ability to use or access the Card may occasionally be interrupted, for example if we need to carry out maintenance on our systems or websites. Please contact Customer Services to notify us of any problems you are experiencing using your Card and we will try to resolve these as soon as possible.

7. Managing & Protecting Your Card

7.1. We shall ask you to create a PIN for use with your Physical Card within the Ziglu App as part of the Physical Card activation steps. You will need this PIN in order to make cash withdrawals from an ATM or at a bank and to authorise payments where Chip & Pin is required at the point of sale.

7.2. If you forget your PIN, you will be able to reset it within the Ziglu App, subject to passing our security checks.

7.3. You will be able to change your PIN at any time within the Ziglu App, subject to passing our security checks.

7.4. You are responsible for your Card, PIN, Access Code and any related security details and must take all possible measures to keep them safe and entirely confidential. Such measures include (but are not limited to): i. memorising your PIN and Access Code as soon as you create or receive it; ii. never writing your PIN or Access Code on your Card or on anything you usually keep with your Card; iii. keeping your PIN and Access Code secret at all times for example, by not using your PIN if anyone else is watching.

7.6. Failure to comply with this clause 7 may affect your ability to claim any losses if we can show that you have intentionally failed to keep the information safe or you have acted fraudulently, with undue delay or with gross negligence. In all other circumstances, your maximum liability shall be as set out below at clause 11.

7.7. If you believe that someone else knows your Ziglu App Access Code, Physical Card PIN or Card security details, you must notify us by contacting Customer Services immediately.

7.8. If we suspect or believe that your Card may be subject to any fraud or security threats, we will notify you securely via one or more of the following: a push notification on your mobile device, telephone or text message, during which we will ask you to answer security questions.

7.9. Once your Card has expired, or if it is found after you have reported it as lost or stolen, you must destroy it by cutting it in two through the magnetic strip.

8. Cancellation

8.1. If you have ordered your Card online, you may cancel it free of charge before activating and using it, and up to 14 calendar days after the date of activation (the Cancellation Period) by writing to Customer Services. This does not apply to replacement Cards where the cancellation period for the original Card has expired.

8.2. Once we have received all necessary information from you (including KYC documentation) any Transactions that took place prior to termination of your Card will be processed in the normal way, along with the deduction of any applicable fees and charges. Your relationship, accounts and agreement with Ziglu in relation to your Ziglu account will remain in force irrespective of the Card termination. If any funds remain on the Card, we will refund such funds to you provided that: i. you have not acted fraudulently or with gross negligence or in such a way as to give rise to reasonable suspicion of fraud or gross negligence; and ii. we are not required to withhold such funds by law or regulation, or at the request of the police, a court or any regulatory authority.

8.3. Once your Card has been cancelled, it will be your responsibility to destroy your Physical Card(s).

8.4. If, following the termination of your Card, any further Transactions are found to have been made or charges or Fees incurred using the Card or we receive a reversal of any prior funding Transaction, we will notify you of the situation and amount and, in the case that you owe us money, you must immediately repay to us such amount on demand. In the case that we owe you money, we will repay this into your Ziglu account as soon as is reasonably practicable or, should you no longer have a relationship with Ziglu, into an account of your choosing, in each case subject to you complying with and passing any relevant security and verification checks we may require.

9. Expiry

9.1. You will not be able to use your Card following its Expiry Date. This Agreement shall terminate on the Expiry Date unless you are issued with a replacement card.

10. Termination or Suspension of your Card

10.1. When this Agreement is terminated, your Card Account is closed.

10.2. We can suspend your Card/Account, restrict its functionality or terminate this Agreement at any time with immediate effect if: i. you haven’t given us the information we need or we believe that any of the information that you have provided to us was incorrect or false; or ii. a Transaction has been declined because of a lack of Available Balance or you do not repay money that owe to us; or iii. you fail to provide the Personal Data necessary for us to comply with our legal obligations and to fulfil this Agreement; or iv. we reasonably suspect that the security of the Card has been compromised or that you, or any third party, have used, or intend to use the Card in a grossly negligent manner or for fraudulent or unauthorised purposes; or v. we believe that your use of the Card may result in harm to us or our systems; or vi. we believe that your continued use of the Card may damage our reputation; or vii. you become bankrupt; or viii. we are required to do so under Applicable Law or where we believe that continued operation of the Program may be in breach of Applicable Law; or ix. your Ziglu E-money Account has been suspended or closed; orwe cannot process some of all of your Transactions due to the termination of any agreement with any third party service provider engaged by or on behalf of us in connection with this Agreement which renders the continuation of our services to you impossible; or x. you have breached this Agreement.

10.3. If we do suspend or terminate your Card then, where lawfully permitted, we shall notify you and give reasons in advance or as soon as possible afterwards using a method in accordance with clause 16. We may advise anyone involved in the Transaction if a suspension has taken place.

10.4. You may terminate your Card at any time within the Ziglu App or by contacting Customer Services.

10.5. Unless or until you or we terminate this Agreement, this Agreement will remain in force.

11. Loss or Theft of your Card

11.1. You are responsible for protecting your Card as if it were cash in your wallet.

11.2. If your Card is lost or stolen, you should immediately ‘freeze’ it within the Ziglu App, accessible within the Cards section of the Ziglu App. ‘Freezing’ the Card will immediately prevent anyone from using it. You may subsequently ‘un-freeze’ the Card should you recover it and wish to continue using it. Your Card may be ‘frozen’ indefinitely and you may ‘un-freeze’ it at any time from within the Ziglu App.

11.3. If you do not wish to ‘freeze’ your Card because you know that a Card is lost, stolen, misappropriated or subject to unauthorised use or that the PIN or any Card related security details are known to an unauthorised person, then you should cancel the Card immediately and report the reason for cancellation (e.g. loss or theft) within the Ziglu App. Where you believe there has been unauthorised use of your Card you should also call Customer Services immediately and ask us to investigate.

11.4. If our investigations reveal that you or your device authorised a disputed Transaction or that you acted fraudulently or that you with gross negligence or with intent breached the terms of this Agreement (for example, by not keeping your Card or PIN safe), you may be liable for any loss we suffer due to use of the Card.

11.5. Once a loss, theft or unauthorised use of your Card is reported, use of the Card shall be blocked by us to avoid further losses.

11.6. Replacement Cards will be sent to your current address which we will ask you to confirm within the Ziglu App.

11.7. Where you have requested more than two replacement cards within an annual rolling period, the Replacement Card will be subject to a fee as detailed within the Fees & Limits Schedule, unless the replacement is required due to a fault with the Card, in which case we may request that you return the faulty Card to us.

11.8. You agree to cooperate with our agents, any supervisory authority, the police and us if your Card is lost, stolen or if we suspect fraudulent use of the Card.

11.9. You need to inform us of an unauthorised or incorrectly executed Transaction without undue delay, and in any event no later than 13 months after the debit date, and we will refund the amount once we have confirmed it is unauthorised or incorrectly executed, unless we have any reason to believe that the incident may have been caused by a breach of this Agreement, through gross negligence or we have reasonable grounds to suspect fraud.

11.10. In the event of a non-executed or defectively executed Transaction, we will make immediate efforts to trace the Transaction and will notify you of the outcome. We will not charge you for such efforts. If we are liable for such Transaction as we cannot prove that the payee’s payment service provider as instructed to us received the amount of the payment transaction on time, we will refund the amount, together with the amount of any resulting charges to which you may be subject, without undue delay.

11.11. If a Transaction that was executed within the EEA arrived later than it should have according to the terms of this Agreement, you may request that we contact the receiving payment institution to ask them to treat it as if it was made on time.

11.12. If a Transaction is made which is initiated by a payee, we will provide a refund of that amount, subject to clause 11.13, only in circumstances where you can prove that:

11.12.1 the exact Transaction amount was not specified when you or your device authorised the payment; and

11.12.2 the amount of the Transaction exceeds the amount that you could have reasonably expected, taking into account your previous spending pattern, the terms of this Agreement and the relevant circumstances of the case.

11.13 The refund referred to in 11.12 will not be provided if:

11.13.1 the amount relates to currency exchange fluctuations; or

11.13.2 you have given your consent to execute the Transaction directly to us; or

11.13.3 information on the Transaction was provided or made available in an agreed manner to you at least 4 weeks prior to the due date of the Transaction; or

11.13.4 you request the refund from us later than 8 weeks from the date on which it was debited.

12. Payment Disputes

12.1. If you dispute a Transaction that you or your device have authorised and which has been processed on your Card, you should settle this with the person you bought the goods or services from; we are not responsible for the quality, safety, legality or any other aspect of goods or services purchased with your Card.

12.2. If your dispute with a Merchant relating to a Transaction cannot be resolved you should contact us at Customer Services, and we will attempt to assist you as far as is reasonably practicable.

12.3. If you have reason to believe that a Transaction was carried out without your consent or in error, you may ask us to investigate the Transaction. If we investigate the Transaction, the disputed amount will be unavailable to spend until our investigation is complete and if we receive information that proves the Transaction was genuine, this will be permanently deducted from your Available Balance and we may charge you an investigation fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.

13. Foreign Exchange

13.1. If you use your Card in a currency other than the currency in which your Card is denominated, the amount deducted from your Available Balance will be the amount of the Transaction converted to your Card currency using a rate set by the Scheme. In order to allow you to compare charges for currency conversion, you can view the real-time percentage difference between the amount that will be charged on your Card for a foreign currency Transaction (consisting of the mark-up applied by the Scheme) and the latest available euro foreign exchange rates issued by the European Central Bank. You can view this information on the Ziglu App. Exchange rates can fluctuate and they may change between the time a Transaction is made and the time it is deducted from your Account/Available Balance. You agree that any change to the exchange rate may be applied immediately and without notice to you.

13.2. When abroad and you are given the option to pay in local currency or GBP (when withdrawing money from an ATM or paying a vendor), if you do not choose to pay in local currency you may be subject by the Merchant to significant DCC (dynamic currency conversion) fees and a different exchange rate to those referred to above. We encourage you to always choose to pay in local currency to avoid hidden charges.

14. Our Liability

14.1. We shall not be liable for any loss arising: i. from any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds and/or failure of network services at ATMs, maximum withdrawal limits set by ATM operators and failure of data processing systems; ii. from any loss of profits, loss of business, or any indirect, consequential, special or punitive losses; iii. from any use of this Card that is contrary to this Agreement; iv. for goods or services that are purchased with the Card; and v. for any damages due to unauthorised transactions, non-execution or defective or late execution of transactions that you have reported to us 13 months or more after the event.

14.2. We will not be liable to you for loss as a result of your contact details changing where you have not told us of this.

14.3. Where the Card is faulty due to our fault, our liability shall be limited to replacement of the Card.

14.4. Where sums are incorrectly deducted from your Available Balance due to our default, our liability shall be limited to payment to you of an equivalent amount.

14.5. Nothing in this Agreement shall exclude or limit our liability for death or personal injury resulting from our negligence or fraud.

14.6. To the extent permitted by law, all conditions or warranties implied by law, statute or otherwise are expressly excluded.

14.7. The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates such as the Schemes, and other suppliers, contractors, distributors and any of their respective affiliates (if any), to you, which may arise in connection with this Agreement.

15. Complaints

15.1. Should you wish to make a complaint about your Card, you may contact Customer Service by email to submit details of the complaint.

15.2. Upon our receipt of your complaint, we shall endeavour to respond to you as quickly as possible but in any event we shall acknowledge your complaint within one working day and offer a final response within fifteen (15) Business Days.

15.3. 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.

15.4. 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.

15.5. We will make every effort to reach a resolution to your complaint and will fully explain the reasoning behind our decision.

15.6. 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. 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.

16. General Communication

16.1. Any communication from us to you will be given via notification within your Ziglu App, email and/or text message to your mobile device (using the latest contact details with which you have provided us).

16.2. You may contact us via Customer Service, the details of which are set out in clause 1.

17. Personal Data

17.1. We are is the Data Controller of your Personal Data associated with the application for and use of this Card and will collect certain information about the purchaser and the users of the Card in order to operate the Card program. Your provision of your Personal Data and our processing of that data is necessary for each of us to carry out our obligations under this Agreement. At times, the processing may be necessary so that we can take certain steps, at your request, prior to entering into this Agreement. If you fail to provide the personal data which we request, we will take steps to terminate this Agreement in accordance with clause 10.1 (ii) (b) above.

17.2. We will manage and protect your personal data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it, the conditions under which we may disclose it and how we keep it secure, please refer to our Privacy Policy which is provided to you at the time we collect your personal data.

18. Changes to the Terms and Conditions

18.1. We may update or amend this Agreement at any time on at least 2 months’ advance notice, which shall be given by notification within the Ziglu App, by e-mail or text message (using the latest contact details you have provided us with).

18.2. If you do not agree with the changes to this Agreement, you may at any time within the 2-month notice period terminate this Agreement in accordance with clause 10 and can redeem any funds remaining on your Card without incurring a Fee. You will be deemed to have accepted any change to this Agreement if you do not terminate this Agreement before the proposed date of the change.

18.3. If any part of this Agreement is inconsistent with any regulatory requirements then we will not rely on that part but treat it as if it did actually reflect the relevant regulatory 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.

19. Language

19.1. Communications under this Agreement shall be in English. The English language version of this Agreement and of any communications and Ziglu App content will prevail over any other language version which we may issue from time to time.

20. Miscellaneous

20.1. This Agreement is governed by English law and you agree to the non-exclusive jurisdiction of the courts of England and Wales.

20.2. Any delay or failure to exercise any right or remedy under this Agreement by us shall not be construed as a waiver of that right or remedy or preclude its exercise at any subsequent time.

20.3. The Card is a payment service product and not a deposit or credit or banking product and, as such, is not governed by the Financial Services Compensation Scheme in the UK. However, we will safeguard your funds so that they are protected in accordance with applicable law if we become insolvent.

20.4. If any provision of this Agreement is deemed unenforceable or illegal, the remaining provisions will continue in full force and effect.

20.5. You may not assign or transfer any of your rights and/or benefits under this Agreement and you shall be the sole party to the contract between us. You will remain liable until all Cards issued to you are cancelled or have expired and all sums due under this Agreement have been paid by you in full. We may assign our rights and benefits under this Agreement to a third party and we may subcontract any of our obligations under this Agreement.

20.6. This Agreement constitutes the entire agreement between you and us and supersedes any prior agreement, terms and conditions or arrangement in respect of its subject matter. Except for the express statements set out in this Agreement, 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 any services provided under this Agreement or your Card.

20.7. You have not entered into this Agreement in reliance upon, and will have no remedy in respect of, any misrepresentation, representation or statement which is not expressly set out or referred to in this Agreement. The only remedy available for any misrepresentation or breach of any representation or statement set out or referred to in this Agreement shall be for breach of contract.

Fees and Limits Schedule

Issuing Fees

• Card Fee: FREE
• Card Activation Fee: FREE

Loading Fees

• Bank transfer/Electronic Funds Transfer: FREE

Transaction Fees and usage

• ATM withdrawal globally (exclusive of ATM operator fees): 2% of withdrawal amount above a FREE rolling monthly withdrawal limit of £250
• Foreign Exchange charge: FREE
• ATM balance enquiry: N/A
• ATM decline: FREE
• PIN Replacement or Change Fee (in the Ziglu App only): FREE

Miscellaneous Fees

• Physical Card replacement fee (where card is lost, stolen, misappropriated, subjected to unauthorised use more than twice in a rolling annual period) including UK delivery: £5
• Physical Card replacement fee (where card is lost, stolen, misappropriated, subjected to unauthorised use more than twice in a rolling annual period) including international delivery: £30

Limits

• Max number of ATM withdrawals allowed (per day): 10
• Max number of ATM withdrawals allowed (per 4 days): 30
• Max value of ATM withdrawals allowed (per day): £500
• Max number of POS transactions allowed (per day): 50
• Max value of POS transactions allowed (per day): £10,000
• Max value of POS transactions allowed (per 4 days): £40,000

ANNEX A

Mobile Wallet Terms and Conditions

This Annex applies to how we facilitate the use of your debit card (Card) when you add or keep a Card in a Mobile Wallet. A Mobile Wallet is any electronic payment system that uses your Card or a mobile record of your Card to allow you to pay for items. It is operated by a provider of Mobile Wallets (Mobile Wallet Provider) and is available on a suitable mobile phone, tablet or other device (Device).

1. Your Debit Card Terms and Conditions Still Apply The terms and conditions that apply to your Debit Card(s) above still apply when you use your Card in a Mobile Wallet. The Mobile Wallet Provider will also have terms and conditions, policies, including a privacy policy, and obligations that apply to your use of the Mobile Wallet, as will other third parties (for example, mobile network operators). You should make sure that you read these terms and conditions and policies and are satisfied with these.
2. Using your Card in a Mobile Wallet To add a Card to a Mobile Wallet, you must follow the process set out by the Mobile Wallet Provider (and any other procedures we, or they, may need to adopt). Not all Cards will be eligible to be added to the Mobile Wallet, and the Mobile Wallet Provider may limit the number of Cards that can be used. Once a Card is added, the Mobile Wallet will only allow you to make purchases where the Mobile Wallet is accepted.

You may remove your Card(s) from the Mobile Wallet at any time by following the Mobile Wallet Provider’s procedures for removal. We must continue to process any Mobile Wallet transactions on your Card outstanding at the time you remove it from the Mobile Wallet and you must still pay for such transactions.

1. Fees We do not charge any fees for adding your Card to the Mobile Wallet. The usual fees associated with using your Card will still apply. The Mobile Wallet Provider or other third parties (for example, mobile network operators) may separately charge you fees in relation to your use of the Mobile Wallet or Device and such fees are between you and the Mobile Wallet Provider or relevant third party.
2. Responsibility for the Mobile Wallet working We do not operate the Mobile Wallet and therefore cannot be responsible for its use or performance. We can only help you with using your Card. We are not responsible for the Mobile Wallet, for example, if it requires updating, becomes unavailable or if you are unable to use it for any Transaction, or if a merchant refuses to accept payment using the Mobile Wallet.
3. Card and Device Security You must not share any usernames, passcodes or any other information relating to your Card or Device. If you share this information with others, they may be able to access your Mobile Wallet and make purchases with your Card or obtain your personal information. Before you replace or dispose of a Device, you must ensure that all Card information is deleted from that Device. You agree to contact us immediately if any Device on which you have a Card has been lost or stolen, or if you suspect that there has been fraud in relation to your Card, for example if you receive a text message, alert or other such notification to your Device indicating that you have added a Card to a Mobile Wallet and you did not do so, or if you receive a receipt for something you did not purchase. We will not be responsible for any losses you incur except as set out in the remainder of this Agreement, or as may be required by law.
4. Suspending or Cancelling Your Use of a Card There may be situations where we refuse to allow a Card to be added to a Mobile Wallet, or cancel or suspend use of a Card to make purchases using the Mobile Wallet. We can do this for any reason and at any time, including where you are in breach of the remainder of this Agreement, where your Card is blocked, cancelled or expired, where we suspect fraud, if you have an overdue or negative balance, if directed to do so by the Mobile Wallet Provider or the applicable card network, or where we cannot sufficiently authenticate you or the Card. The Mobile Wallet Provider or a third party may also block, restrict, suspend, or terminate your use of the Mobile Wallet without reference to us, and we cannot be liable if this happens.
5. Your Privacy We respect the privacy of your personal information. We will at all times comply with our obligations under Data Protection law and the terms of our Privacy Policy, available in the Ziglu App. The Mobile Wallet Provider is separately responsible for how they use and manage any personal information you provide to it.
6. We May Change these Clauses in this Annex These clauses may change from time to time, and we will notify you as set out in the remainder of this Agreement, after which the continued use of your Card with the Mobile Wallet will mean that you have accepted them. If you do not agree to any updated Conditions, you may remove your Card(s) from the Mobile Wallet following the Mobile Wallet Provider’s procedures for removal.
7. Contact Us If you have any queries in relation to these clauses, please refer to our Mobile Wallet FAQs available in the Ziglu App. If you have any questions or issues which are not answered by our FAQs, please contact us using the details set out in clause 1 above. If you have questions in relation to the Mobile Wallet, please contact the Mobile Wallet Provider.