In this Agreement, the below terms shall have the following meaning(s):
(a) make Outbound Transactions;
(b) receive funds under Inbound Transactions;
(c) see a record of Transactions; and
(d) convert the funds between different currencies we make available from time to time.
In accordance with Clause 5 below, Transaction Amounts received in your Personal Account through Inbound Transactions must always be allocated to a Payment Instruction for an Outbound Transaction:
(a) the amount of funds received from the Sender as part of an Inbound Transaction, or
(b) the amount of funds you specified you want to transfer to a Recipient as part of an Outbound Transaction.
In each case, the Transaction Amount excludes any applicable Transaction Fee and is the amount displayed by us on the Platform prior to any foreign exchange conversion;
Type of payment | When the Transaction Amount will reach the Recipient’s payment service provider |
---|---|
Outbound Transactions in sterling to an account in the UK Outbound Transactions in euro to an account in the UK Outbound Transactions in euro to an account in the EEA Outbound Transactions to an account in the UK involving only one currency conversion between euro and sterling Outbound Transactions to an account in the EEA involving only one currency conversion between euro and sterling, where the Transaction Amount which reaches the Recipient is in euro | No later than the end of the next Business Day after we process your Payment Instruction in accordance with Clauses 4.10 and 4.11 |
All other Outbound Transactions to an account in the UK | No later than four Business Days after we process your Payment Instruction in accordance with Clauses 4.10 and 4.11 |
All other Outbound Transactions not falling within the above categories | By entering into this Agreement, you agree that these Outbound Transactions will not be governed by the rules in regulation 86 of the Payment Services Regulations 2017. This means that the time the Transaction Amount will reach the Recipient’s payment service provider varies depending on the currency or country you’re sending the Outbound Transaction to (or both). |
Clause 4.12 above. We cannot be held liable for any delay in onward payment by the Recipient’s payment service provider to the Recipient.
Issue | Our response |
---|---|
We carried out your Payment Instructions incorrectly when we made an Outbound Transaction from your Personal Account | We will refund the amount withdrawn and any associated charges and put your Personal Account into the position it would have been in as if the incorrect Outbound Transaction had never happened. |
You gave us incorrect Payment Instructions | We will make reasonable efforts to recover your payment for you but this may be beyond our control. We may also charge you a fee for helping you with this. If we cannot recover the payment, then we will not refund you. You should contact the Recipient's payment service provider directly for a refund. |
An Outbound Transaction on your Personal Account was not authorised by you | We will refund the amount withdrawn and any associated charges as soon as possible (and by no later than the end of the Business Day following the day on which we become aware of the unauthorised Outbound Transaction). We will also put your Personal Account into the position it would have been in as if the unauthorised Outbound Transaction had never happened. |
We have incorrectly executed Inbound Transactions (including where we have not credited a payment to your Personal Account) | We will immediately put your Personal Account into the position it would have been in as if the error never happened. We will not do this if the error was made by someone else, such as Faster Payments, CHAPS, Cheque and Credit Clearing or another payment services provider. |
Someone (other than us) has paid money into your Personal Account by mistake | We will let you know what has happened before we return the funds to them. If we do not hear from you, we will deduct the money from your Personal Account. If you disagree with the claim, we will not return the funds but the law requires us to give your information to the Sender's payment service provider and they may also be in touch with you to recover the amount. |
We pay money into your Personal Account by mistake (e.g. due to a systems error) | We will immediately take back that amount without telling you. |
(a) disguising those details if you write them down and keeping them out of sight of any person;
(b) not sharing those details with anyone;
(c) being aware of scams designed to trick you into sharing your security details or other information that could be used to defraud you; we will never ask you to share your security details with us;
(d) checking your Personal Account and Transaction History regularly;
(e) logging out of the Platform when you are not using it;
(f) keeping any devices you use to access the Platform, including your phone and laptop, secure; and
(g) following any reasonable instructions which we give you or publish on the Platform from time to time and which are intended to help you keep your use of our Services safe.
to reflect any change in Applicable Laws, codes of practice or guidance, or a recommendation, decision or order of a court, ombudsman, regulator or government body, or new statements, codes of practice or industry guidance designed to enhance consumer protection;
to reflect any changes in our business organisation (for example, if we merge with another organisation or transfer our business to another organisation);
to reflect any changes in technology or the systems we use to provide services to you;
to maintain or improve the security of our products;
to provide you with extra benefits or additional services;
to introduce a new product, service or any new feature on an existing product or service;
to reflect (in a proportionate way) changes in our costs in providing our services, for example changes in market conditions, technology costs, inflation and/or the costs of providing facilities.
to reflect (in a proportionate way) any cost associated with any new product or service we introduce, or any new feature on an existing product or service;
to reflect changes in the Bank of England base rate and other market rates;
to make the terms clearer or fairer to you, or to benefit you or correct mistakes, ambiguities, inaccuracies or omissions where it will not make you worse off.
(a) suppliers who provide us with IT, payment and card delivery services which includes Blackthorn Finance Ltd and Blackthorn Cards Services Limited;
(a) our banking and financial-services partners and payments networks, including Visa and Mastercard, in order to help us provide our services to you - this includes banking and lending partners, banking intermediaries and international payment-service providers;
(a) analytics providers and search information providers, to help us improve the Platform;
(a) customer-service providers, survey providers and developers, to help us to provide our services to you; and
(a) communications services providers, to help us send you emails, push notifications and text messages.
In this Agreement, the below terms shall have the following meaning(s):
(a) make Outbound Transactions;
(b) receive funds under Inbound Transactions;
(c) see a record of Transactions; and
(d) convert the funds between different currencies we make available from time to time (“Settlement Currencies”);
In accordance with Clause 8 below, Transaction Amounts received in your Corporate Account through Inbound Transactions must always be allocated to a Payment Instruction for an Outbound Transaction;
(a) the amount of funds received from the Sender as part of an Inbound Transaction, or
(b) the amount of funds you, an Authorised User or a Client Administrator specified to be transferred to a Recipient as part of an Outbound Transaction;
In each case, the Transaction Amount excludes any applicable Transaction Fee and is the amount displayed by us on the Platform prior to any foreign exchange conversion;
Issue | Our response |
---|---|
We carried out Payment Instructions incorrectly when we made an Outbound Transaction from your Corporate Account | We will refund the amount withdrawn and any associated charges and put your Corporate Account into the position it would have been in as if the incorrect Outbound Transaction had never happened. |
You, your Authorised Users or Client Administrators gave us incorrect Payment Instructions | We will make reasonable efforts to recover the payment for you but this may be beyond our control. We may also charge you a fee for helping you with this. If we cannot recover the payment, then we will not refund you. You should contact the Recipient's payment service provider directly for a refund. |
An Outbound Transaction on your Payment Account was not authorised by you, your Authorised Users or Client Administrators | We will refund the amount withdrawn and any associated charges as soon as possible (and by no later than the end of the Business Day following the day on which we become aware of the unauthorised Outbound Transaction). We will also put your Corporate Account into the position it would have been in as if the unauthorised Outbound Transaction had never happened. |
We have incorrectly executed Inbound Transactions (including where we have not credited a payment to your Corporate Account) | We will immediately put your Corporate Account into the position it would have been in as if the error never happened. We will not do this if the error was made by someone else, such as Faster Payments, CHAPS, Cheque and Credit Clearing or another payment services provider. |
Someone (other than us) has paid money into your Corporate Account by mistake | We will let you know what has happened before we return the funds to them. If we do not hear from you, we will deduct the money from your Corporate Account. If you disagree with the claim, we will not return the funds but the law requires us to give your information to the Sender's payment service provider and they may also be in touch with you to recover the amount. |
We pay money into your Corporate Account by mistake (e.g., due to a systems error) | We will immediately take back that amount without telling you. |
(a) disguising those details if they are written down and keeping them out of sight of any person;
(b) not sharing those details with anyone;
(c) being aware of scams designed to trick into sharing security details or other information that could be used to defraud; we will never ask you, your Authorised Users or your Client Administrators to share your security details with us;
(d) checking your Corporate Account and Transaction History regularly;
(e) logging out of the Platform when it is not used;
(f) keeping any devices used to access the Platform, including phones and laptops, secure; and
(g) following any reasonable instructions which we give or publish on the Platform from time to time and which are intended to help keep the use of our Services safe.
to reflect any change in Applicable Laws, codes of practice or guidance, or a recommendation, decision or order of a court, ombudsman, regulator or government body, or new statements, codes of practice or industry guidance designed to enhance consumer protection;
to reflect any changes in our business organisation (for example, if we merge with another organisation or transfer our business to another organisation);
to reflect any changes in technology or the systems we use to provide services to you;
to maintain or improve the security of our products;
to provide you with extra benefits or additional services;
to introduce a new product, service or any new feature on an existing product or service;
to reflect (in a proportionate way) changes in our costs in providing our services, for example changes in market conditions, technology costs, inflation and/or the costs of providing facilities.
to reflect (in a proportionate way) any cost associated with any new product or service we introduce, or any new feature on an existing product or service;
to reflect changes in the Bank of England base rate and other market rates;
to make the terms clearer or fairer to you, or to benefit you or correct mistakes, ambiguities, inaccuracies or omissions where it will not make you worse off.
Financial institutions are required to assist in the fight against money laundering activities and the funding of terrorism by obtaining, verifying, and recording identifying information about all customers. We may therefore ask you to supply us with personal identifying information relating to you, a Sender and any Recipient and we may also legally consult other sources to obtain information about you, any Sender and any Recipient.
(a) suppliers who provide us with IT, payment and card delivery services which includes Blackthorn Finance Ltd and Blackthorn Cards Services Limited;
(b) our banking and financial-services partners and payments networks, including Visa and Mastercard in order to help us provide our services to you - this includes banking and lending partners, banking intermediaries and international payment-service providers;
(c) analytics providers and search information providers, to help us improve the Platform;
(d) customer-service providers, survey providers and developer, to help us to provide our services to you; and
(e) communications services providers, to help us send you emails, push notifications and text messages.
Customer Services and Complaints Dept
Swipe International Ltd