Yoursafe Terms & Conditions

1. Information on the service provider

Yoursafe B.V. is a Dutch company with Chamber of Commerce registration number 34180575, registered at Danzigerkade 23D, 1013 AP Amsterdam, Netherlands.

Yoursafe is a trademark registered with Yoursafe B.V., the corporate entity that is registered with the Dutch Central Bank as an Electronic Money Institution (“Yoursafe”).

2. Your payment account

Yoursafe complies and will comply with all provisions regarding the protection of customer funds as set out in the “Wet op het financieel toezicht” (Wft).

An amount equal to the balance on the payment accounts is kept on behalf of the customer in segregated client accounts of Yoursafe, pooled with the amounts held on behalf of other Yoursafe customers.

Account currency and ownership

• The currency of the Basic Payment Account is defined in the account opening from the available currencies and can be changed if requested.
• The funds of the Basic Payment Account belong to the private person or legal entity registered as account holder.

Who can hold an account

• If the customer is a private person, the customer shall be at least 18 years of age.
• The customer may also be a legal entity. In that case, the customer shall authorise one or more private persons to use the customer’s payment account on behalf of the customer. The account holder is liable for any use of the account, including the authorised persons’ use.
• The account information may be modified only by the persons authorised to use the account and by other legal representatives of the customer, after being separately identified and authorised by Yoursafe.

Set-off, restrictions and reserves

• Subject to certain procedures relating to private persons, Yoursafe is entitled to set off the outstanding balance on the customer’s Basic Payment Account against any claims Yoursafe may have against the customer under these Terms and Conditions or any additional Terms and Conditions related to the use of the Basic Payment Account, payment methods or value added services.
• Restrictions regarding transfer and withdrawal of funds from the Basic Payment Account may be applied in certain cases, depending on the status of the customer’s verification and other factors used by Yoursafe from time to time.
• Yoursafe has the right to conduct inspections, audits, and/or impose additional conditions or restrictions relating to the customer or the use of the customer’s Basic Payment Account, including establishing a reasonable reserve amount to cover potential losses and related fees and sanctions, as well as limiting the right of the customer to claim monies from the Basic Payment Account when required.

Taxes

It is the customer’s responsibility to determine what, if any, taxes apply in connection with the customer’s use of the payment account or any value added services. It is solely the customer’s responsibility to assess, collect, report, or remit the correct tax to the proper tax authority, including, without limitation, to collect and remit any applicable value added taxes in the relevant jurisdictions.

Yoursafe is not obligated to, nor will Yoursafe, determine which taxes apply, calculate, collect, report, or remit any taxes to any tax authority in respect of the customer’s use of the Basic Payment Account, value added services or any underlying transactions.

3. Opening a Basic Payment Account

To open a Basic Payment Account, the customer or representative shall register with the Yoursafe service and give the information required in connection with registration. As part of the registration, the customer needs to accept these Terms and Conditions, Yoursafe’s Privacy Policy, and other applicable Terms and Conditions.

A customer may have multiple Basic Payment Accounts with Yoursafe for different purposes.

Identification and due diligence

In connection with the registration or opening of a Basic Payment Account, as well as at any time during the use of the Basic Payment Account, Yoursafe may request identification information, proof of the customer’s identification and other required documentation necessary to conduct customer due diligence.

• When giving the information, the customer guarantees that the information is complete, accurate and truthful.
• The customer is required to inform Yoursafe of any changes to the information as soon as possible, so that Yoursafe records remain accurate.

Verification

We may confidentially verify the information you provide us with, or obtain information on you ourselves or through third parties from secure databases. Some of the searches which we or a third party may perform, such as a credit check, may leave a soft footprint on your credit history. This will not affect your credit rating.

By entering into these Terms and Conditions, you confirm that you consent to us, or a third party on our behalf, carrying out such verifications.

4. Yoursafe App

To open a Yoursafe Account, the account holder has to register themselves on Yoursafe’s website. This is where they will fill in their profile information and address. The account holder will then be asked to download the Yoursafe App (“App”). Once the App has been downloaded, they will be asked to complete the on-boarding and KYC procedure in order to open an account with Yoursafe.

What you can use the App for

The customer may use the App to carry out some or all of the following services:

• complete the on-boarding and KYC procedure;
• check the balance of your Yoursafe Basic Payment Account;
• check the transaction records of your Yoursafe Basic Payment Account;
• authorise transactions initiated on Yoursafe’s website;
• check sales, commissions, domain names and other products and services that are affiliated to the Yoursafe Account;
• any other products or services that are added to the App whenever these products or services are released.

Please note that not all of the above services may be available to you. You must not use the App for any other purpose.

Agreeing to these terms

You acknowledge and agree that by tapping “sign up” in the App you will be legally bound by these Terms and Conditions, and hereby authorise Yoursafe to allow access to the designated account(s) in order to provide you with the services.

From within the App you must complete a designated registration process by furnishing us with all true and accurate information required, and agreeing to comply with Yoursafe’s Privacy Policy.

We reserve all rights, at our sole discretion, to set other eligibility criteria or revoke an account without giving any reasons for doing so.

Identity verification via the App

Amongst other identity verification processes, we require you to use the Yoursafe App to submit a scan of the following documents via the App:

• your current and valid passport, driver’s licence or any other national ID document that is supported by the App;
• your current address;
• evidence that you are a live natural person, by completing a series of tests requested by the App.

We may, if necessary, conduct further personal identification checks on you. If you fail to provide the information pursuant to the above, we may refuse to open an account for you.

Your licence to use the App

You may:

• download and install a copy of the App onto your Device, and view, use and display the App on the Device for your personal purposes only; and
• use the information displayed on the App for your personal purposes only.

Keeping your App account secure

Your Yoursafe App account is accessed by using a unique login code as specified by you, to ensure that your account is safe from unauthorised access by any third parties.

You must take all reasonable precautions to keep safe and prevent fraudulent use of your Device and security information. These precautions include:

• not leaving your Device unattended whilst logged into the account;
• notifying us as soon as reasonably practicable at support@yoursafe.com in the event of:
  • your login code having been accessed or disclosed to unauthorised third parties or otherwise compromised;
  • you having any reason to suspect unauthorised use of your login code;
  • your Device being lost or stolen.

We may act and rely on the correct entry of a login code as conclusive evidence of the identity of the person to whom the login code is assigned.

5. Managing an account

The customer may use the Basic Payment Account with the customer’s credentials. All actions executed at Yoursafe with the customer’s credentials are binding on the customer.

The customer shall keep the customer’s credentials secret and shall not disclose them to unauthorised third parties.

Locking of credentials

Yoursafe shall have the right, without prior notice, to lock a customer’s credentials and thus prevent the customer’s access to its Basic Payment Account if there is a reason to suspect unauthorised use. Yoursafe shall not be liable for any damages caused to the customer or a third party due to the customer’s credentials being locked in accordance with the above.

Your liability

The customer is liable for any action executed at the Yoursafe service if an unauthorised payment transaction is executed because the customer:

• has not kept the customer’s credentials secret;
• has shared the customer’s credentials with a third party in breach of these Terms and Conditions; or
• has neglected the obligation to inform, without undue delay, about a loss of, an unauthorised party having possession of, or other unauthorised use of the customer’s credentials.

6. Execution and initiation of payment transactions

Yoursafe executes or initiates payment transactions regarding placing, transferring and withdrawing funds to and from Yoursafe payment accounts in accordance with the customer’s payment orders.

Correct payment orders

A correct payment order contains at least an amount of funds and a valid payment method to deliver funds.

It is the customer’s responsibility to ensure correct recipient account details when making any payment or setting up a payee. The customer is responsible for incorrectly given payment instructions; in such cases Yoursafe may assist with reasonable efforts to help the customer recover the funds. If the funds can’t be recovered, Yoursafe may provide the relevant information about the transaction to help the customer reclaim the funds. Yoursafe will provide this information on receiving a written request from the customer, unless instructed otherwise by law.

The payment order is considered received by Yoursafe immediately upon due placement to the Yoursafe Basic Payment Account.

Refusal to execute

Yoursafe may temporarily refuse to execute, initiate or process payment orders due to:

• insufficient available funds;
• compliance and security reasons;
• suspected fraudulent activity;
• the payment being unlawful or fraudulent; or
• reasons relating to Yoursafe’s right to enforce charge-backs.

Yoursafe will not be liable for any loss this may result in, nor will it be obliged to inform the intended recipient. Unless instructed otherwise by law, Yoursafe shall inform the customer without undue delay of the reasons for temporary refusal.

Revocation and overdrawn amounts

A payment order may be revoked only in limited circumstances described in the applicable law. Yoursafe will charge a fee for revoked payments in accordance with the applicable price list.

If, for any reason, a payment is processed for an amount greater than the available balance, the customer must repay the amount by which the full deductible amount exceeds the available balance immediately after receiving the notification. Yoursafe reserves the right to take all steps necessary, including legal action and/or suspending or closing the Yoursafe Payment Account, to recover any outstanding funds.

7. Account information

The customer is able to see account information on all payment or other accounts the customer has made an agreement to attach with Yoursafe.

Information on individual payment transactions that the customer has done through their Yoursafe payment account is provided in the customer’s Yoursafe account.

You must ensure the information on your Yoursafe Account is always accurate and up to date. If at any time we believe that your information is outdated or inaccurate, we may contact you and request further information, or request that you go through the verification process again. We shall not be liable for any losses arising out of your failure to maintain up-to-date information.

8. Applicable payment methods

The customer may withdraw, transfer or place funds to and from the payment account by using various payment methods. Payment methods may include, for example, debit SEPA payments, card payments, payment initiation or mobile payments. Yoursafe reserves the right, at any given time, to introduce new payment methods or to disable previously available payment methods.

• In connection with the use of a particular payment method, Yoursafe may demand additional identification to verify the identity of the customer for security or other reasons.
• Yoursafe may temporarily block the use of a particular payment method for compliance or security reasons, because of suspicion of unauthorised or fraudulent use of the payment method, or because of a significantly increased chargeback risk or a risk the payer may be unable to fulfil its liability to pay. Yoursafe shall inform the customer without delay of the reasons for temporary blocking.

9. Payment refunds

Incorrect transactions

If a transaction has been made incorrectly, Yoursafe will immediately, and in any event no later than by the end of the following business day, refund the customer’s payment account with sufficient funds, including any charges, to restore the payment account to the same position as if the incorrect transaction had not been made.

However, this will not apply if any payment instructions provided by the customer were incorrect. If so, Yoursafe will make reasonable efforts to recover the funds. Yoursafe may charge a fee to cover the costs in doing so. Applicable fees are defined in accordance with the pricing information published at Yoursafe’s website at the relevant time.

Funds received by mistake

If funds have been paid to the customer’s payment account by mistake, Yoursafe is entitled to refund the funds and/or put a hold on the funds, unless otherwise specified by law. If funds are settled into a customer’s payment account by mistake, Yoursafe may provide sufficient details about the customer and the incorrect payment to the bank institution that sent the payment, according to the applicable legislation.

10. Closing a payment account

The customer may, at any time, close its payment account by informing Yoursafe and withdrawing the funds from the account, provided there are no outstanding exposures, pending reserves or negative balances.

The account will be closed once the funds are redeemed. However, if any additional withdrawals, fees or charges have been incurred on the payment account following the processing of the redemption request, the fees will be invoiced and the payment account will remain active until there are no outstanding funds.

11. Data protection

Yoursafe may record and transfer personal data in accordance with the Yoursafe Privacy Policy available at Yoursafe’s website.

Sharing with Card Networks and service providers

Yoursafe has the right to share the customer’s data with the payment Card Networks pursuant to the requirements of the network rules under the applicable payment facilitation contracts, or with third-party service providers who help with certain parts of Yoursafe’s business operations, including payment processing, fraud prevention, validation of user credentials, secure data storage and other similar services. Yoursafe ensures that these parties only use personal information in connection with the services they perform for Yoursafe.

Accuracy and security

• The customer is required to inform Yoursafe of any changes to the information as soon as possible, so that Yoursafe records remain accurate.
• Yoursafe is committed to maintaining customer information in accordance with the requirements of applicable data protection laws and will take all reasonable steps to ensure that customer information is kept secure against unauthorised access, loss, disclosure or destruction.
• Except as required by law, or in accordance with these Terms and Conditions and the Yoursafe Privacy Policy, customer information will not be passed to anyone without the customer’s permission.

Retention after termination

Yoursafe has the right to keep the customer’s data also after the termination of the services, in order to meet the requirements of anti-money laundering and other applicable legislation, regulations and enforcement.

12. General limitations of liability

Yoursafe is responsible for the payment order initiated by the customer being carried out in accordance with these Terms and Conditions and the applicable law. The customer is responsible for the payment account containing the funds needed for payment transactions, and for complying with its obligations under these Terms and Conditions and the applicable law.

The customer is entitled to compensation from Yoursafe only if the customer informs Yoursafe about the breach that entitles it to damages within a reasonable time after the customer has noticed the error, or should have noticed it.

IN NO CIRCUMSTANCE SHALL YOURSAFE BE LIABLE FOR DEFECTS OR DELAYS IN PRODUCTS OR SERVICES OF THE CUSTOMER OR THIRD PARTIES THAT ARE THE SUBJECT MATTER OF THE RELEVANT PAYMENT TRANSACTION. YOURSAFE IS A PAYMENT SERVICE PROVIDER AND IS NOT A PARTY TO THE COMMERCIAL TRANSACTION UNDERLYING THE PAYMENT ORDER.

YOURSAFE IS LIABLE ONLY FOR DIRECT DAMAGES CAUSED BY ITS BREACH OF THESE TERMS OF SERVICE OR THE APPLICABLE LAW. YOURSAFE IS NOT LIABLE FOR ANY INDIRECT OR CONSEQUENTIAL DAMAGES UNLESS CAUSED BY WILLFUL MISCONDUCT OR GROSS NEGLIGENCE BY YOURSAFE.

Yoursafe is not liable for any damages caused by events of force majeure.

13. Suspension and Termination

Suspension by Yoursafe

Yoursafe has the right to suspend the Yoursafe service at any time, with immediate effect and — until the cause has been remedied or the agreement terminated — without any prior notice to the customer, if:

1. any of the information that the customer has provided during the application or account opening process was incorrect;
2. in Yoursafe’s discretion, it is necessary for security reasons;
3. there is a suspicion of, or to prevent suspected, unauthorised or fraudulent use of the card, payment account or any security credentials related to any Yoursafe services;
4. required by any legal obligations or requirement;
5. there is reason to believe that the customer is in material breach of these Terms and Conditions, any supplementary Terms and Conditions, or any applicable law; or
6. there is reason to believe that the customer has used, or intends to use, any Yoursafe service in a grossly negligent manner or for fraudulent or other unlawful purposes.

Termination by the customer

The customer has the right to terminate the Yoursafe service and these Terms and Conditions for convenience, with immediate effect, at any time by written notice to Yoursafe.

Notwithstanding the termination, the customer will remain responsible for payment transactions that have been made from the payment account before Yoursafe received the termination notice. The notice shall be considered as received no later than 7 days from the date of notice.

Termination by Yoursafe

Yoursafe has the right to terminate the Yoursafe service and these Terms and Conditions for convenience at any time, giving two months’ written notice to the customer.

Yoursafe also has the right to terminate the Yoursafe service and these Terms and Conditions with immediate effect in the event that the customer is in material breach of these Terms and Conditions, any supplementary service, or any applicable law, if:

1. the customer files bankruptcy, reorganisation, suspension of payment or commits any other act of insolvency;
2. the customer fails to pay any service fees, or is otherwise in breach of the applicable law, these Terms and Conditions, supplemental Terms and Conditions, or any applicable policies specified herein;
3. the contract between Yoursafe and any payment processor is terminated for any reason; or
4. there is, in Yoursafe’s discretion, a heightened volume of expected chargebacks, bad scoring, or missing or negative information as part of the compliance assessment of the customer, or Yoursafe has reason to believe that the customer has used, or intends to use, the account in a grossly negligent manner or for fraudulent or other unlawful purposes.

Notice and effects of suspension or termination

• In the event of suspension or termination, Yoursafe will inform the customer in advance, or otherwise immediately afterwards (to the extent that Yoursafe is permitted by law). The notice of suspension and termination shall be made electronically.
• The customer must pay the regularly charged service costs only to the extent that they relate to the period before the termination of these Terms and Conditions. If the customer has prepaid such costs, Yoursafe shall refund such costs to the extent that they relate to the period after the termination.
• The termination does not alter the customer’s liability for processed payments or obligations related to charge-backs or similar obligations, which shall survive any termination of these Terms and Conditions.

14. Fees

• The customer shall pay the fees and charges for the use of Yoursafe services according to the applicable Pricing Terms valid at the given time.
• The Pricing Terms in force at any given time are available on the Yoursafe website.
• Yoursafe may amend the service price list at any time. The amendment shall be notified to the customer electronically and enters into force on the date set out in the notice.
• Yoursafe is entitled to charge the fees and charges directly from the customer’s payment account. The customer is responsible for ensuring there are enough funds in the payment account for charging the fees.

15. Amendments

Yoursafe may amend these Terms and Conditions, any supplemental Terms and Conditions or the service price list at any time.

• The amendments shall be notified to the customer electronically and enter into force on the date set out in the notice — at the earliest two (2) months from the date of the notification.
• The changes shall, however, come into force within two (2) weeks from the date of notice if the changes are due to practices of unauthorised use of the service or because of requirements of Card Networks.
• The customer shall be regarded as having accepted the amendments if the customer does not object to them before the effective date. If the customer objects to the amendments, the customer and Yoursafe both have the right to terminate the service and these Terms and Conditions with immediate effect.
• Where an amendment is required by law, or relates to the addition of a new service, new account type, extra functionality to the existing service, a reduction in the cost of the services, or any other change which neither reduces the rights nor increases the responsibilities of the customer, the amendment may be made without prior notice and shall be effective immediately.

If any provision or provisions of these Terms and Conditions shall be held to be invalid, illegal, or unenforceable, Yoursafe will not rely on that part and will make adequate changes as soon as reasonably practical to fully comply. The corresponding term(s) will be amended accordingly.

16. Complaints

If the customer is not happy with the Yoursafe services, the customer is always welcome to notify Yoursafe of the problem.

• To make a complaint, send a message including the complaint to support@yoursafe.com.
• Yoursafe is committed to resolving customer complaints within 15 business days. In exceptional circumstances Yoursafe may extend this period to 35 days.
• If the customer is not happy with the resolution Yoursafe comes to, the customer may refer any disputes relating to these Terms and Conditions to, or report the conduct to, the Authority for the Financial Markets (AFM) in the Netherlands.

17. Definitions

• App or Yoursafe App — the Yoursafe mobile application of Yoursafe B.V. as available in the relevant app store for your Device.
• Business Day — between the hours 09:00 to 17:00 in Amsterdam (Central European Time), not including Saturdays, Sundays or any public or statutory holidays in the Netherlands.
• Card Networks — Visa International Inc. and/or Visa Europe Services Inc. or any other applicable card brands.
• Contents — all or any data, texts, buttons, icons, links, HTML codes, trademarks, software, music, audio and/or visual information, photographs, graphics, pictures, series of moving pictures (animated or otherwise), movies, merchandise, products, advertisements, services or any compilation, collection or combination of all and/or any of the items mentioned above and/or any other content, materials and/or information displayed on the App, including these Terms and Conditions.
• Customer — the private or legal person with a bona fide business purpose in whose name the Yoursafe Account is opened.
• Customer credentials — the username and the password chosen by the customer, or other credentials granted to the customer by Yoursafe.
• Device — any smartphone or handheld device that is controlled by you and onto which the Yoursafe App can be downloaded.
• End User or You — an end user of Yoursafe and/or the Yoursafe App.
• Fees — the charges to be paid to Yoursafe for using Yoursafe’s services.
• Force Majeure Events — any event arising from any cause preventing a party from performing any or all of its obligations under these Terms and Conditions which arises from or is attributed to acts, events, omissions or accidents beyond the reasonable control of the party so prevented.
• Yoursafe — also referred to in these Terms and Conditions as “we” and “us”.
• Yoursafe customer support — the service offered by Yoursafe to support its customers to resolve customer support requests or answer questions concerning Yoursafe and its services.
• Yoursafe website — the website available at www.yoursafe.com.
• Payment account — a Basic Payment Account created in the Yoursafe service for executing payment transactions regarding placing, transferring or withdrawing funds.
• Payment transaction — an act, initiated by a payer or a payee, of placing, transferring or withdrawing funds from a payer payment account to a payee payment account, irrespective of the chosen payment method to deliver the funds.
• Payment order — an instruction by a payer or payee to his/her payment service provider requesting the execution of a payment transaction.
• Payment refund — an act, initiated by Yoursafe or a payee, of paying back the funds of a previous payment transaction. The object is typically an unsatisfied obligation between the payer and the payee.
• Payment method — a channel chosen by the payer to enable the funds delivery. Yoursafe may make available different payment methods such as credit or debit SEPA payments, card payments and mobile payments.
• SEPA — Single Euro Payment Area. This unique euro payment area establishes an integrated European market for payment instruments.