ECOSPEND GENERAL END USER TERMS AND CONDITIONS V. 2.0 (THE “TERMS”)

1. INTRODUCTION

1.1. These Terms apply to Ecospend’s payment initiation services ("PIS") and/or account

information services (“AIS” and together with PIS, the “Services”). Please find more information

about the Services in Section 3 below.

1.2. The Services are provided (to “you”, the “User”) by Ecospend Technologies Limited, company

reg. no. 11114967, with address at The Wingate, Shaftesbury Avenue, London, United Kingdom,

W1D 5DY (”us”, “Ecospend") on the terms and conditions set out below (the “Terms”).

1.3. Ecospend is authorised by the FCA as a payment institution (FRN 829713) with permission to

provide payment initiation services and account information services.

1.4. If you have any questions relating to the Services you can contact our Support team by sending

an e-mail to hello@ecospend.com. Ecospend will communicate with you electronically and in

English.

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2. THE TERMS

2.1. These Terms and Conditions cover both PIS and AIS. Depending on your specific interaction,

your user journey may involve one or both of these services.

2.2. These Terms apply each time you use the Services. You must agree to the Terms in force at any

given time in order to use the Service, so please make sure to read these Terms carefully each

time you use the Service. If you do not agree to these Terms, you cannot use the Services.

2.3. You are entitled to receive these Terms in the physical form of a document or in some other

permanent form, by contacting our Support team (see contact details below). You can view the

latest version of these Terms at any time via our website and in direct connection with using our

Services.

2.4. By using our Services, you consent to Ecospend collecting and processing your information

from your online bank. This is done in accordance with our Privacy Policy, which outlines our

compliance with the UK General Data Protection Regulation (GDPR) and the Data Protection Act

2018. The Privacy Policy also details the purposes for which your data is used, including sharing

it with the "Merchant" (the organisation from which you intend to purchase goods or services)

and/or other entities as set out in the Privacy Policy.

2.5. Ecospend will never come into possession of your bank login information and bank security

credentials (“Credentials”).

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3. ABOUT THE SERVICES

3.1. You will find Ecospend on a Merchant’s website you wish to make a purchase from, or

authenticate yourself to, Ecospend acts as a provider of Payment Initiation Services (PIS) and

Account Information Services (AIS). Upon your instruction, Ecospend provides a service to

enable the transfer of funds from your bank to a Merchant or obtains information from your

bank and shares this with the Merchant or others as described in the Privacy Policy.

3.2. It is important to understand that Ecospend does not store or manage your funds. We act as an

agent for merchants, securing their funds. Your bank account funds and relationship with your

bank are solely your responsibility.

Payment Initiation Services

3.3. You can use Ecospend’s PIS to make a payment from your online bank to the Merchant you wish

to make a purchase from.

3.4. When you choose to make a transaction to an online Merchant, you will typically be directed to

an Ecospend page to select your payment account provider (your online bank). Once you have

clicked “continue” (or similar call for action button), you will be deemed to have expressly

requested Ecospend to initiate the PIS transaction. Ecospend will redirect you to your online

banking application, where you will be required to log-in and authenticate yourself towards your

bank using your Credentials.

3.5. You will be presented with the available bank accounts with your bank and required to select

which account(s) you wish to make the transaction from.

3.6. By selecting your bank account(s), you are instructing Ecospend to initiate a transaction of the

required amount, details of which will be clearly displayed to you. You will then be asked to use

the Credentials provided by your bank to authorise the transaction.

3.7. Once the transaction is authorised with your bank, funds will usually leave or be reserved in

your bank account immediately and Ecospend will then confirm the successful initiation of the

transaction. Following this, you cannot request Ecospend to cancel the transaction.

3.8. The transaction is transferred via general clearing systems. Compliance with regulatory

obligations by both your bank and the Merchant’s bank can sometimes cause delays to

processing times that are beyond our control.

3.9. If your bank confirms to us that the payment was successfully initiated, Ecospend will confirm

to the Merchant that the payment is on its way.

3.10. Ecospend may share information about your transaction with the Merchant , including your

name, the name of your bank, or your account details. The information that Ecospend will share

with the Merchant will be disclosed to you before you consent to Ecospend's PIS and accept

these Terms.

3.11. If you wish to receive a refund of the payment for any reason, you should contact the Merchant

or your bank.

Account Information Services

3.12. You can use Ecospend's AIS to obtain account information from your online bank and share this

information with the Merchant that you wish to make a purchase from and/or others as set out

in the Privacy Policy.

3.13. Once you have entered all the required details into the various parts of the Ecospend online

interface and clicked “continue” (or similar call-for-action button), you will be deemed to have

expressly requested Ecospend to perform the AIS. Ecospend will redirect you to your online

banking application, where you will be required to log-in and authenticate yourself towards your

bank using your Credentials.

3.14. You will be presented with the available bank accounts with your bank and required to select

the account(s) that you wish to obtain information from.

3.15. With your consent, Ecospend will share the account information with the Merchant and/or

others as set out in the Privacy Policy. The information shared could include your name, the

name of your bank, or your account details (“Account Information Data”). The information that

will be shared will be disclosed to you before you consent to Ecospend's AIS and accept these

Terms.

3.16. Once you have authorised the AIS with your bank, the Account Information Data will usually be

shared with Ecospend immediately so you cannot withdraw or revoke the authorisation after

this time.

3.17. The processing time for the collection of Account Information Data varies depending on how

long it takes you to identify against the bank and how much information will be retrieved but will

be completed as soon as possible after your request to Ecospend and subsequent authorisation

with your bank.

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4. USER REQUIREMENTS AND RESPONSIBILITIES

4.1. To use the Services, you must be of at least eighteen (18) years of age, or of such older age as

required by the Merchant. Moreover, you must have the capacity to enter into legally binding

contracts and have the right to access and authorise payments from the online bank account

that you access to fund the payment. By agreeing to the Terms, you warrant that these

requirements are met.

4.2. Any use of the Service, including but not limited to the use of Credentials, shall be deemed to

be carried out by the authorised owner of the relevant bank account.

4.3. You confirm that you:

(i). will not use the Services for any fraudulent, unlawful, or abusive purpose,

(ii). the Credentials you use are your own and you are duly authorised to use those in order to use

our Services,

(iii). will provide Ecospend with true and complete data, and not misrepresent, withhold, or

modify any data,

(iv). are the holder of the bank account from which the Services are provided and have the right to

use the Services, including, where relevant, with the consent of any co-holder of the relevant

bank account,

(v). protect your technical equipment and the confidentiality of your Credentials, to make sure

that this is not used by any unauthorised party,

(vi). are using the Service personally and do not allow any third party to use it,

(vii). shall not use the Service for any purpose that is in violation of your agreements with third

parties, these Terms or applicable law.

4.4. You are personally responsible for using the Services. You agree and acknowledge that your

failure to comply with these terms may result in Ecospend:

(i). suspending access to the Services; and

(ii). claiming damages for any damage caused to Ecospend or any third party.

4.5. If you know or suspect unauthorised use of the Services, including your Credentials, you must

immediately notify us via e-mail to hello@ecospend.com, and report the unauthorised use of

the Service to your online bank. The bank, and not Ecospend, will decide whether you shall be

reimbursed for any loss in accordance with your agreement with your bank. It is very important

that you report any unauthorised use to your bank as soon as possible as you otherwise might

not be able to claim a refund from your bank.

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5. CHARGES

5.1. Ecospend does not charge you for any fees for the provision of the Services.

5.2. For the avoidance of doubt, you are responsible for any costs when using the Services that you

may incur from parties other than Ecospend, such as bank charges.

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6. SERVICE AVAILABILITY

6.1. Ecospend strives to provide an excellent Service, but does not guarantee the availability of the

Service. Ecospend is not responsible for any losses, damages or similar if the Service is down,

not functioning as intended or expected, if the Account Information Data is incorrect in any way,

or similar, to the extent permitted under applicable law.

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7. SUSPENSION

7.1. Ecospend may have to suspend the Services to:

(i). deal with technical changes; or

(ii). update the Services to reflect changes in relevant laws and regulatory requirements.

7.2. Ecospend unilaterally reserves the right to suspend or block your use of the Services 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 Services, or any other act or omission such as severe malfunction or

misuse of the Services. If Ecospend deems the conditions set out in these Terms not to be

satisfied, or if it would be unlawful for Ecospend to provide the Services, we may refuse to do

so. If so, Ecospend or the Merchant will notify you, unless the law prevents us from doing so.

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8. COMMUNICATION

8.1. General information about our Services and these Terms is provided on an ongoing basis via

our website or via our interface used when you are using the Service. Security-related

information will be communicated via our dedicated security page.

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9. QUESTIONS AND COMPLAINTS

9.1. Providing you with excellent Services is important to Ecospend. If you notice any indication of

malfunction of the Services, please notify us promptly.

9.2. If you have any questions relating to the Services you can contact our Support team by sending

an e-mail to hello@ecospend.com . Ecospend will communicate with you electronically and in

English.

9.3. If you wish to submit a complaint, you can contact our dedicated function within our Support

team handling consumer complaints. That dedicated function is our Complaints Manager and is

contacted by sending an email to hello@ecospend.com .

9.4. 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 .

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10. CUSTOMER DUE DILIGENCE

10.1. The payment you make using the Services is subject to monitoring for the purposes of

complying with applicable regulations on anti-money laundering and countering the financing of

terrorism. To comply with relevant regulations, information may be requested from you in order

to establish for instance your identity, purpose of the payment transaction and origin of funds.

By executing a payment transaction through the Services, the User commits to provide any and

all such information as may be deemed necessary for these purposes and recognises that

non-compliance with such request may result in refusal to complete the payment transaction of

the User, or other consequences as called for.

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11. INTELLECTUAL PROPERTY

11.1. Ecospend owns all intellectual property rights in and to the Services, our website and

technology. If you choose to give us feedback or suggestions about any part of our Services,

website or technology Ecospend may use such feedback or suggestions without any limitations

and without payment to you.

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12. LIABILITY AND COMPENSATION

12.1. It is your bank that is responsible for executing the transaction you initiate using the PIS and the

accuracy of the information collected using the AIS.

12.2. If the Services are not performed in an adequate way, and these inadequacies were caused by

Ecospend, Ecospend is responsible in relation to you. In such cases we will try to trace the

payment order as soon as possible and notify you or your bank of the result.

12.3. To the extent Ecospend is liable, this liability is limited to foreseeable loss or damage caused by

Ecospend to the extent set out in these Terms or by mandatory law. Ecospend is not liable for

indirect loss or damages incurred due to the use of the Services unless caused by Ecospend’s

gross negligence.

12.4. Your purchase of goods, services, digital content or otherwise from a Merchant by using the

Services will at all times be subject to the Merchant's own terms and conditions, and Ecospend

is not responsible for the actions or inactions of the Merchant. Please ensure that you have

reviewed and accepted the Merchant's terms and conditions before using Services to make a

payment to and/or share information.

12.5. Ecospend is not responsible for any harm, damage or loss arising from, or relating to, hacking,

tampering or in any other way unauthorised access to your Credentials or use of the Service

that is not within our reasonable control.

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13. UNEXPECTED EVENTS BEYOND OUR CONTROL

13.1. Ecospend is not liable for any economic loss, damage, delay or failure of performance to the

extent such loss, damage, delay or failure is caused by fire, flood, explosion, war, strike,

blockade, boycott, lockout, embargo, governmental requirements and/or actions, new

legislation, civil and military authority, data trespass, denial-of-service (DoS) attack, unlawful

action of the User or any other cause or similar circumstances beyond Ecospend’s reasonable

control. The reservation as regards strike, blockade, boycott, lockout and similar also applies if

Ecospend is itself the subject of or implements such industrial action.

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14. SEVERANCE

14.1. If any provision of these Terms 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 these Terms which shall remain in full force and effect. If any provision of

these Terms is 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.

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15. GOVERNING LAW AND DISPUTE RESOLUTION

15.1. These Terms shall be governed by the laws of England and Wales. Disputes shall primarily be

resolved by negotiations in good spirit between the parties. Should the parties not be able to

reach an amicable agreement, the English courts shall have exclusive jurisdiction to settle any

dispute or claim arising out of or in connection with these Terms.

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Ecospend Technologies Limited (corp. reg no 11114967)

The Wingate, Shaftesbury Avenue, London, United Kingdom, W1D 5DY, Website:

https://ecospend.com, Email: hello@ecospend.com

Supervised by the Financial Conduct Authority, 12 Endeavour Square, London E20 1JN (0800 111 6768)