Terms and Conditions for MyVault Rewards

last updated: January 13, 2025

Please make sure to read these Terms and Conditions carefully as they apply to GBP funds you place on MyVault.

Guavapay Limited (“Guavapay”, “we”) is a company registered in England with company number 10601900 with its registered address at Salisbury House, 29 Finsbury Circus, London, EC2M 5QQ, United Kingdom. Guavapay Limited is registered with the Financial Conduct Authority in the United Kingdom as a Small Electronic Money Institution with reference number 900888. Guavapay Limited’s ICO registration number is ZA274504.

Thank you MyVault whereby your amounts deposited can earn you rewards, while remaining immediately accessible to you (the “Program”). By participating in this Program, you agree to the following terms and conditions:

1.             Eligibility

1.1.         Participants must be UK tax resident and at least 18 years old.

1.2.        The Program is open to all individual users with a MyGuava Account in GBP (MyVaults do not support other currencies until further notice). For more information about MyGuava and Account Terms please visit   https://myguava.com/legal.  

1.3.        Anyone entering on behalf of another person is not eligible to enter the Program.

2.             Conditions

2.1.         To benefit from the rewards of the Program, please make a transfer from your MyGuava to your MyVault.

2.2.        You can start with MyVault from as little as £1.00 GBP.

2.3.        You can withdraw funds from your MyVault to your main MyGuava Account at any time and without incurring penalties. This way, your funds remain instantly accessible to you.

2.4.        Guavapay does not charge any fees for MyVault.

2.5.        MyVault is not covered by the Financial Services Compensation Scheme (FSCS). However, any funds you deposit into MyVault are fully safeguarded. While we cannot guarantee additional rewards, your deposits in MyVault are 100% protected.

For more details, please refer to our Safeguarding Policy: https://myguava.com/legal/GB/policies/safeguarding-policy.

2.6.        Please consider Guavapay does not provide any investment advice. If you’re uncertain about MyVault, we urge you to seek professional advice.

3.             Rewards

3.1.         The amounts you deposit into your MyVault may benefit from certain rewards in the form of a percentage increase. These rewards are subject to change and may fluctuate over time. Actual reward rates may vary depending on the resources MyGuava has available to provide additional benefits for participants of the Program.

3.2.        Rewards are calculated based on the actual number of days in the current calendar year, and they are added to your account monthly. You do not have to do anything nor pay any fees.

4.             Limitations

4.1.         MyVault rewards are only available to funds in in GBP.

4.2.        The Program cannot be combined with any other promotions, offers, or discounts.

4.3.        Any user who provides false or misleading information at any time will be disqualified from the Program.

4.4.        We reserve the right to declare the Program void if we consider it unreasonable to proceed, due to an administrative error or otherwise.

5.             Tax Liability on Rewards

5.1          It is your responsibility to determine what, if any, tax obligations you have as a result of using our services. We can't provide tax, financial or legal advice. If you are in doubt, you should speak to an independent advisor. You may be responsible for taxes on any earnings or rewards accrued through MyVault. For individuals, this may include capital gains tax. For businesses using a MyGuava Business account, corporate tax obligations may apply.

6.            Liability

6.1          Guavapay is not liable for any technical issues or malfunctions that may affect MyVault from time to time. 

6.2         To the extent permitted by applicable law, Guavapay will not be responsible to you for losses that arise if (i) access to MyVault isn’t available; (ii) we don’t meet our obligations under these Terms and Conditions because of a legal or regulatory requirement; (iii) where you have acted fraudulently or with intent or gross negligence; (iv) our reasonable reliance on any instruction that we believe to be from you and/or aperson authorised by you to give the same; (v) because there were unusual or unexpected events outside our control; or (vi) we are unable to continue running the Program for any reason.

6.3         Guavapay’s liability under or in connection with the Program or these Terms and Conditions shall be limited to foreseeable losses. Loss of interest, business, profits, or damage to any goodwill are not covered. If we don’t meet our obligations under these Terms and Conditions, we will not be responsible for any loss that we couldn’t have reasonably foreseen you’d suffer at the time we entered into this agreement with you.

6.4         Nothing in these Terms and Conditions removes the liability of us for death or personal injury resulting from our negligence or for fraud or fraudulent claims and statements.

7.             Amendments

7.1.         Guavapay reserves the right to terminate or temporarily suspend this Program in the event of technical or other difficulties that might compromise its integrity, though we will endeavor to minimise the impact on participants.

7.2.        Any changes to the Program or these Terms and Conditions will be communicated through appropriate channels.

8.             Data Protection

8.1.         Any personal data collected as part of this Program will be processed in accordance with our Privacy Policy.

8.2.        If you register for the Program, we will use your information in accordance with these Terms and Conditions. Our Privacy Policy explains how we will use, disclose, transfer, and store your information, and sets out your rights to your information:  https://myguava.com/personal/privacy-policy.

9.             Governing Law

9.1.         These Terms and Conditions are governed by and construed in accordance with the laws of England and Wales and only the courts of England and Wales have jurisdiction over them.

10.          Contacts

10.1.      If you require any information or assistance in connection with the Program or these Terms and Conditions, please contact Guavapay Limited Customer Support:

-          By letter: Customer Support, Guavapay Limited, Salisbury House, 29 Finsbury Circus, London EC2M 5QQ, United Kingdom.

-          By email: [email protected].

-          By phone: +44 204 577 1440.

-          By chat through the app or Website.

-          Through specific contact forms on our Website:  https://myguava.com/personal/help.