USER TERMS AND CONDITIONS

1. GENERAL INTRODUCTION OF THE SERVICES

1.1 Account Information Service. The Ecospend Account Information Service (“AIS”) is a bank-independent service, provided by Ecospend Technologies Limited (“Ecospend”) (reg. no. 11114967), a UK payment institution authorised by the Financial Conduct Authority (“FCA”) to provide account information services (FRN 829713), which enables you (“you” or the “User”) to extract account information data from your online bank and the bank account(s) chosen by you, to be submitted to a designated recipient having a contract with Trustly, Inc. and you (the “Merchant”) for the purpose of e.g. verifying your identity and bank account, reducing the risk of fraudulent transactions with respect to your bank account, and for such other purposes as agreed between you and the Merchant. The data that is shared and how such data is shared depends on the terms as agreed between you and the Merchant. AIS includes an interface between you and your online bank, designed specifically to allow you to execute a swift and secure identification and bank account verification transaction by extracting certain information from your bank account. The information extracted may include bank name, account name, account type, account number or IBAN, bank routing number, bank account balance (for identification and verification purposes only), Sort Code, and account holder name. The specific information which is extracted depends upon where you are located and what information is available. The Ecospend interface available to you through Ecospend’s AIS allows you to extract such account information data without any additional software or registration requirements.

1.2 Manual Entry Data.  If you prefer to not use the AIS interface to your online bank, you may use the Trustly, Inc. Manual Entry Data (“MED”) interface which does not connect to your online bank. When using MED, you will have to manually enter your bank account number and other bank account identifying information such as routing number, I-Ban, B-Ban, branch transit number, BSB number, and/or financial institution number into the MED interface provided by MED. Trustly, Inc will match such information to Trustly, Inc’s bank account information databases. The account information you enter and the identifying information gathered by Trustly, Inc may be shared with the Merchant as it is or after being compiled by Trustly, Inc into a report in a predefined format. The data that is shared and how such data is shared depends on the terms as agreed between you and the Merchant. For the avoidance of doubt, the MED option does not constitute a so-called account information service in accordance with Directive (EU) 2015/2366 of the 25 November 2015 on payment services in the internal market.

1.3 AIS and MED are collectively referred to herein as the “Service”. The Service is not offered by or affiliated with your bank. To use the Service you need a device with internet connectivity that supports an internet browser as well as access to whatever technical equipment and / or software that your bank requests that you use in order to authenticate yourself towards your bank. The Service is provided to you, upon and in accordance with your request. AIS is provided to you by Ecospend. MED is provided to you, upon and in accordance with your request, by Trustly, Inc., (file number 7348916), a Delaware corporation, with address at 555 El Camino Real, Suite 200, San Carlos, CA 9407. Ecospend and Trustly, Inc., being affiliates, are referred to collectively herein as "Trustly" or “Us”. Please read these Terms and Conditions carefully. In case you do not accept the Terms and Conditions, do not proceed with use of the Service. By using the Service, you agree to these Terms and Conditions as set forth in this Agreement at the time of using the Service. The Terms and Conditions may be revised from time to time without prior notice and you must therefore ensure that the terms are reviewed in each case before proceeding with use of the Service. In the event of a change of the terms, the revised version will be labelled with a new version number. In certain cases, special terms and conditions may supplement these Terms and Conditions. In case of a contradiction between these Terms and Conditions and such special terms and conditions, the regulations set forth in said special terms and conditions shall prevail. You are entitled to receive these Terms and Conditions in the physical form of a document or in some other permanent form, by contacting our Support Team (see contact details in Section 11 below).

1.4 Once you have entered all required details into the various parts of the Trustly online interface for either AIS or MED and clicked “continue”, you will be deemed to have expressly requested and approved that account information data and certain identifying information be collected and shared with the Merchant in accordance with these Terms and Conditions. If you use AIS, the processing time for the collection of the data varies depending on how long it takes to identify such information against your bank and the amount of information extracted. If you use MED, the processing time for the collection of data also varies depending upon how long it takes to identify such information against Trustly’s bank account databases. Regardless, such processing will be completed as soon as possible after your approval. Please note that MED may result in a slower verification process than AIS. In addition, processing of your banking information may be delayed or may fail if you enter inaccurate, incomplete, or incorrect information when using MED.

2. LOGIN INFORMATION ETC. PROVIDED BY The USER (AIS ONLY)

When using AIS, any data extraction executed via AIS, with the use of personalised security credentials (codes/passwords etc.), shall be deemed to be carried out by the authorised owner of the account. The login information provided by you when using AIS will be processed by Ecospend. Ecospend will forward the information, through the Service interface, to the corresponding interface of your online bank through a secure connection. All communication transferred when using AIS is encrypted and your secret login information is only forwarded to the corresponding input field of the selected bank but is never stored by Trustly.

3. INFORMATION ABOUT THE USER

By using AIS, you acknowledge that account information data and identifying data which you make available by using the AIS, is collected from your online bank via AIS, and processed by Ecospend in accordance with, and for the purposes, set out in the Privacy Policy, which includes sharing the aforementioned data with Trustly, Inc. who in turn may share it with your Merchant in accordance with Trustly, Inc.'s Privacy Policy.

By using MED, you acknowledge that account information data and identifying data which you make available by using MED, is collected directly from you, and processed by Trustly, Inc. in accordance with, and for the purposes, set out in the Privacy Policy.

4. GENERAL REQUIREMENTS FOR ELIGIBILITY TO USE THE SERVICE

To use either the MED or AIS Service, you must be of at least eighteen (18) years of age, or of such age as required by the Merchant, with capacity to enter into legally binding contracts. By using the Service, you hereby warrant that these requirements are met. Moreover, you warrant (i) that you are the holder of the bank account from which the information will be retrieved (or which you have provided using MED) and have the right to make such data available to Trustly, Inc. or Ecospend (as applicable), and transfer it to the Merchant, including, where relevant, with the consent of any co-holder, (ii) that you protect the confidentiality of your login information to make sure that data is not provided to any unauthorized party, (iii) that you are using the Service personally and not allowing any third party to use it, (iv) that you will provide true and complete data, and not misrepresent, withhold or modify any such data or otherwise act fraudulently, and (v) that you shall not use the Service for any purpose that is in violation of your agreements with third parties, this Agreement, or applicable law. You are personally responsible for any and all such violations and acknowledge, by using the Service, that the use of the same does not result in any such violation. You agree and acknowledge that Trustly, Inc. or Ecospend (as applicable) may (i) suspend access to the MED or AIS Service or terminate the Agreement, and (ii) claim damages for any damage caused to it or any third party, due to your failure to comply with the said warranties.
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If you know or suspect unauthorised use of the MED or AIS Service, including your login information, you must immediately notify us (see contact details in Section 8, depending on which aspect of the Service is used) and report the unauthorised use of the Service to your online bank.

5. SUSPENSION OF THE SERVICE

5.1 Trustly, Inc. or Ecospend (as applicable) may have to suspend the Service, in whole or in part, to address technical changes or to update the relevant part of the Service to reflect changes in relevant laws and regulatory requirements.

5.2 Trustly, Inc. or Ecospend (as applicable) unilaterally reserves the right to suspend or block your use of the MED or AIS Service (as applicable) or you as a User in the event of suspected criminal or illicit activity, imminent civil actions by third parties due to the providing of the Service, or any other act or omission such as severe malfunction or misuse of the Service. If Trustly, Inc. or Ecospend (as applicable) deems the conditions set out in these Terms and Conditions not to be satisfied, or if it would be unlawful for Trustly, Inc. or Ecospend (as applicable) to perform the Service, we may refuse to do so. If so, Trustly or the Merchant will notify you, unless the law prevents us from doing so.

6. LIABILITY AND COMPENSATION

6.1 AIS only. If you use AIS, Ecospend is liable to you for Ecospend’s provision of the Service to the extent set out in the Payment Services Regulations 2017 (as applicable from time to time).

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6.2 Unless otherwise required by applicable law, neither Trustly, Inc. nor Ecospend shall be liable to you for any direct or indirect loss and consequential loss or damages and expenses incurred due to the use of the Service, including but not limited to any malfunctions or downtime of the Service (unless the loss or damage was due to our fraud or deliberate or willful misconduct).

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6.3 Your agreement with the Merchant will be subject to the Merchant’s terms and conditions and neither Trustly, Inc. nor Ecospend shall be liable for the actions or inactions of the Merchant. Please ensure that you have reviewed and accepted the Merchant’s terms and conditions before using the Service.

7. FEES

Neither Trustly, Inc. nor Ecospend charges you any fees for the provision of the Service. You acknowledge that we may receive a fee from the Merchant for the provision of the Service.

8. COMPLAINTS AND NOTIFICATIONS OF DELAYS, INTERRUPTIONS, MALFUNCTION, ETC.

8.1 If you notice any indication of malfunction of the Service, you shall notify us promptly. Any questions or complaints relating to AIS shall be submitted to Ecospend’s support team/Complaints Manager via e-mail to hello@ecospend.com. Questions or complaints regarding the MED service shall be submitted to Trustly, Inc. via e-mail to amer-privacy@trustly.com.

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If you are using MED, you can also contact Trustly, Inc. by sending a letter to:
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Trustly, Inc.
Attention: Legal Department
555 El Camino Real, Suite 200
San Carlos, CA 94070

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8.2 Trustly, Inc. and Ecospend will respond to such questions or complaints electronically and in English. In respect of Trustly, Inc., you have the right to request that a response shall be translated into the official language where the Service is offered.

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8.3 In case you are not satisfied with Ecospend’s handling of your complaint, you may be able to refer your complaint to the UK Financial Ombudsman Service. You can contact the UK Financial Ombudsman by telephone on: 0800 023 4567; by post at The Financial Ombudsman Service, Exchange Tower, London E14 9SR; or by email: complaint.info@financial-ombudsman.org.uk.

9. FORCE MAJEURE

Neither Trustly, Inc. nor Ecospend shall be liable for any economic loss, delay or failure in performance to the extent such loss, delay or failure is caused by fire, flood, explosion, war, strike, embargo, governmental requirements, civil and military authority, data trespass, denial-of-service (DoS) attack, unlawful action of the you or any other cause beyond Trustly’s reasonable control.

10. SEVERANCE

If any provision of this Agreement is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of this Agreement which shall remain in full force and effect. If any provision of this Agreement is so found to be invalid or unenforceable but would cease to be invalid or unenforceable if some part of the provision were deleted, the provision in question shall apply with such modification as may be necessary to make it valid and enforceable.

11. GOVERNING LAW

If you use AIS, these Terms and Conditions and the agreement it constitutes shall be governed by the laws of England and Wales and the courts of England and Wales shall have exclusive jurisdiction. If you use MED, these Terms and Conditions and the agreement it constitutes shall be governed by the laws of California, subject to any mandatory provisions under the laws of your country of residence. Disputes shall primarily be resolved by negotiations in good spirit between the parties following a claim being filed by you after which Trustly, Inc. shall consider the claim within thirty (30) days. If the parties are not able to reach an amicable agreement regarding the claim, the dispute shall be resolved in accordance with the rules of civil procedure.

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Ecospend Technologies Limited (corp. reg no 11114967)

The Wingate 93-107 Shaftesbury Avenue, London W1D 5DY
website: https://ecospend.com/
e-mail: hello@ecospend.com

Supervised by the Financial Conduct Authority, 2 Endeavour Square, London, E20 1JN

Trustly, Inc.
Website: https://us.trustly.com/
E-mail: amer-privacy@trustly.com