Account terms
last updated: April 30, 2024
Please read these Account Terms & Conditions (the “Terms”) carefully before you agree to use an Account or any of the Guavapay Services. First of all, please note that the Glossary will explain any terms capitalised if not defined in the body of the document. You will find the Glossary at the end of this document.
1 Who provides my account?
1.1 Guavapay is a Small Electronic Money Institution registered with the Financial Conduct Authority in the United Kingdom, under FCA Reference Number (FRN) 900888. Guavapay 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’s ICO registration number is ZA274504.
2 The most important point in this document
2.1 Please note that we are not a bank and that our Accounts (and other Guavapay Services), although may appear similar, differ in some substantial ways from those provided by traditional banks.
2.2 It is worth to highlight how we protect your funds. Unlike a bank, Guavapay complies with safeguarding obligations under applicable law and regulations by holding an equivalent amount of funds received in exchange for electronic money issued in a separate account with an authorised credit institution. These funds do not have protection under the UK Financial Services Compensation Scheme; however, safeguarding means 100% of client funds would be protected from any risk associated with Guavapay’s solvency.
What does this mean for me?
2.3 In the unlikely event that we become insolvent, you may lose the electronic money held in your Account. However, we strictly adhere to applicable legal and regulatory requirements which are designed to ensure the safety and liquidity of funds deposited in electronic money accounts. For further information on how we safeguard customer funds, please visit our Website more information is set out in the document titled Safeguarding Statement.
What am I agreeing to?
2.4 You accept these Terms by i) ticking a box, ii) signing through a digital signature and/or iii) using the Guavapay Service.
2.5 By accepting these Terms you acknowledge and agree that: (i) we are not a bank and your Account is not a bank account; (ii) Accounts are not insured by any government agency and the UK’s Financial Services Compensation Scheme (FSCS) does not apply to your Account; (iii) we do not act as a trustee, fiduciary or escrow holder in respect of balances in your Account; and (iv) we do not pay you interest on any balances in your Account.
3 Some general terms
3.1 These Terms govern the way in which Guavapay provides Guavapay Services to you. You should read these conditions carefully before accepting them.
3.2 These Terms set out the general terms and conditions applicable to the relationship between you and Guavapay. Once agreed, these Terms along with the Fees (as applicable) and other policies and documents in the Terms section of our Website (and/or if applicable any executed document) form a legally binding agreement (the ‘Agreement’) between you and us once you register to become an Account Owner.
3.3 Any written term agreed individually between you and Guavapay and duly executed shall prevail over this Agreement, including these Terms, unless stated otherwise or contrary to any applicable law.
3.4 We may find it necessary to change these Terms and/or any other documents forming the Agreement from time to time and we will notify you of any changes by sending an e-mail to the primary e-mail address registered with your Account or by posting notice of the changes on Terms section of our Website with a link to the amended Terms at least 2 (two) months before the effective date of the changes, or sooner if applicable law, regulations or regulatory requests so require. Changes to the exchange rates shall come into effect immediately without notice.
3.5 By continuing to use the Guavapay Services you will be deemed to have accepted any changes made to the Terms unless you notify us to the contrary before they come into force. Should you disagree with the proposed changes, you have the right to terminate and close your Account immediately without charge before the proposed date of their entry into force. A notice from you that you do not agree to the changes will constitute notice that you wish to terminate your Agreement with us and your Account will be immediately closed upon receipt of your notice to terminate and your Card will be cancelled. Any funds in your Account will be returned to you using such a method as notified by you (subject to the normal applicable Fees).
3.6 You may review the current Terms prior to initiating any Transaction at any time by clicking on the "Account Terms" page on the Website. The Terms will show the most recent revision date. No revision will affect any Transaction that is outstanding as of the date of such revision. We encourage you to print a copy of the Terms for your future reference.
3.7 The latest version of the Guavapay policies and other important documents is located on the Website for your reference. You can always find these documents at the Terms section of our Website.
3.8 We reserve the right to adjust the Fees at our reasonable discretion from time to time in accordance with increases in the UK Retail Price Index and, in the event of a change in the costs for the services of payment schemes and other providers.
4 What do I need to be able to hold an account with Guavapay?
To become and remain an Account Owner, you must:
4.1 be at least 18 years of age;
4.2 be a resident of the United Kingdom, or, if not resident in the United Kingdom, not be a resident of any country where we do not provide the Guavapay Service (the list of prohibited countries can be found by visiting our Acceptable Use Policy (we reserve the right to update such policy from time to time);
4.3 open an Account in accordance with the instructions set out on the registration page of our Website, including completing all requested information set out on the registration page;
4.4 provide an active address, phone number and email address (and notify us of changes from time to time); and
4.5 satisfactorily pass all of our required identity and security validation and verification checks, and provide additional documents in a timely manner as requested by our team. Please note:
4.5.1 we will request information and documentation to verify your identity prior to issuing an Account (and reserve the right to request information and documentation from time to time throughout the term of the Agreement); and
4.5.2 we will review your application within a reasonable time.
5 What do I need to be able to use the Guavapay Services?
In order to use the Guavapay Service, you must:
5.1 be an Account Owner; and
5.2 not be in breach of these Terms or otherwise have access to your Account restricted, nor have had any previous Account closed by us.
6 Can I share my account with others?
6.1 Your Account is personal to you and we will not permit any other person to use your Account, except where they do so on your behalf (see provisions about Authorised Users in respect of business Account Owners below).
6.2 You will promptly send us an update regarding your Account details if your name, address, email address, phone number, credit card, or bank account information changes.
7 Using your Account
7.1 Your Account has many functionalities. For instance, you can make Payments, Withdrawals and set up Recurring Payments which are connected to powerful payment schemes such as Faster Payments, SEPA and other methods as added and notified to you from time to time. In addition, through our innovative technology you will benefit from a range of new functionalities that simply do not exist in traditional banking and you will receive cashback.
8 How can I make a transaction or purchase electronic money?
8.1 In order to initiate a Transaction, you will first of all need to complete an Upload or have someone else transfer money to you.
8.2 If proceeding through Upload you must provide the information requested and pass all identity and security validation and verification checks. For any Upload, you authorise us to obtain or receive funds on your behalf from your chosen payment source, less any applicable Fees. Depending where you make an Uploads from, it may be subject to fees including currency conversion fees (if applicable). Please see Fees for more information.
8.3 Once funds are received – whether through an Upload or transfer – we then issue electronic money to your Account.
9 How can I apply for Cards?
9.1 If you reside in a supported country, you may apply for a Card once your Account has been verified in accordance with the paragraph immediately below (we reserve the right to update the list of supported countries from time to time).
9.2 In order to apply for a Card, you will need to “verify” your Account by confirming your identity and where you live. Details of how to do this will be made available through the app or Website. If for any reason you struggle, you are always welcome to chat to or call Customer Support. We may use third parties to obtain this information, which may also contain credit checks on our behalf. You agree to us applying reasonable discretion in using and sharing relevant personal data to conduct such identity and verification checks.
9.3 We reserve the right to refuse to issue you a Card in our sole discretion.
10 I have received a Card. How do I use it?
10.1 We issue physical and virtual Cards. Whether physical or virtual, you may be able to register and/or store the details of the Card within third-party apps and/or devices such as GooglePay and ApplePay and to use those third-party apps/devices to initiate Payments with your Card. When you first register your Card within a third-party app/device we support, you may be required to verify that it is you requesting the registration of the Card. If you do not do this, you may not be able to register and use your Card through the third-party app/device.
10.2 Once you receive a physical Card, you must sign it as soon as you receive it.
10.3 Your Card is not a credit card or a charge card. You can only spend to the value of the funds that you have in your Account. You can use your Card anywhere it is accepted, however, a virtual Card can only be used where a physical card is not required, for example, Transactions made online or over the phone.
10.4 All Transactions made using your Card are subject to: (i) there being sufficient funds in your Account (although at times there may be negative in accordance with clauses 10.6 and 19.3); (ii) the Merchant or financial institution being able to verify that you have sufficient funds available in your Account; and (iii) where applicable and without limitation, any Merchant terms, the terms of the provider of the ATM or relevant terms of your other financial institution with whom you hold an account, etc., such terms being in addition to these Terms.
10.5 We reserve the right to decline any Transaction at our sole discretion including, but not limited to, circumstances where that Transaction is suspected to be fraudulent, would be in breach of these Terms or any applicable law and regulation or where you have insufficient funds to make the Transaction. We shall not be liable in the event that a Merchant refuses to accept your Card or if we do not authorise a Transaction, or we cancel or suspend use of your Card in accordance with these Terms.
10.6 You must not spend more money using your Card than you have in your Account. If you cause your Account to go into a negative balance, we reserve the right to take actions against you in accordance with these Terms. That said there are instances where “offline” Transactions mean that your Account may go in the negative (an example being payments such as transactions where you touch in and touch out or “pay at pump” transactions). If such Transactions send your Account in the negative you must ensure to Upload promptly the next day in order to avoid any applicable Fees.
10.7 Merchants such as car hire companies, hotels and other service providers will estimate the total sum of money you may spend or for which you require authorisation. The estimate may be for more than the amount you eventually spend or are charged, for example: (i) at restaurants you may be required to have a maximum of 20% more on your Card than the value of the bill to allow for any service charge added by the restaurant; (ii) at “pay at pump” petrol pumps (if applicable), you may be required to have an amount equal to the maximum Transaction value permitted at the pump in your Account.
10.8 The Merchant will be required to tell you the estimated amount that will be blocked in your Card Account and seek your consent. This means that some of the funds on your Account may be blocked until the Merchant has settled the actual Transaction amount and accordingly, you will not be able to spend this estimated sum during this period. We will release the blocked funds without undue delay on becoming aware of the amount of the Transaction and in any event will unblock the funds immediately after receipt of the settlement request from the Merchant.
10.9 We reserve the right to cease or amend the ability for Cards to be registered/stored within one or more third party apps/devices such as GooglePay and/or ApplePay.
11 How can I make payments to and from my Account?
11.1 You can use your Account to make Payments out to external bank accounts via a number of payment schemes such as, without limitation, Faster Payments and SEPA (and other methods as added and notified to you from time to time). This means you can make a Payment straight from your Account to a Merchant, another person (whether in the United Kingdom or another permitted country), or to another financial institution that accepts payment from a Guavapay Account. You may be able to make a Payment to or from a Merchant or another financial institution, directly from the website of that Merchant or application/account of the third-party financial institution.
11.2 When making a Payment from your Account, you may not designate an amount in excess of the balance (plus the applicable Fees) in your Account at the time the request is made. If you attempt to do so, your Payment request will be denied.
11.3 You are fully responsible for any goods or services bought by you that are paid for through your use of the Guavapay Service. Any dispute with a Merchant regarding any product or service bought by you through the Guavapay Service is between you and the Merchant and you agree that we shall not be a party to such dispute. We do not provide any warranties, representations, conditions or guarantees with respect to such goods and services. Guavapay shall not be held liable for consequential, direct, indirect or special losses, damages or equivalent whether directly or indirectly caused by such dispute between you and a Merchant.
11.4 Payments are subject to fees including currency conversion fees (if applicable). Please see Fees section for more information.
11.5 Transactions (more precisely, information on the Transactions such as the identifier assigned to the Transaction (e.g. purpose of the Transaction), the amount, the payee) are displayed in your online transactions history together with the date of receipt or transmission (the credit or debit value date), the fees charged and, where applicable, any exchange rate used. You should check your Account balance and Transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Customer Service.
11.6 We may send you a notification at the email provided by you and as shown on your Account, reminding you to log into your Account and download and/or print a copy of your Transaction history.
11.7 You must give consent to the execution of a Transaction for it to be authorised (exceptions apply in respect of certain requirements of Applicable Law such as, for example and without limitation, where we are required to move funds out of your Account to combat fraud). You agree that by pressing the “agree” button or entering your Account ID Information (or any equivalent button or process whereby you submit the required Transaction information) you are confirming that you are providing consent for the Transaction to be processed and for the relevant Fees to be charged and deducted from your Account. All Transactions made using your PIN, your Account ID Information or any other security procedures that we require are deemed to be authorised by you. You also agree that once consent has been provided by you, the authorised Transaction can no longer be revoked. To this extent, the time of receipt of the consent for the Transaction request (and therefore the time of consent) is the time when the “agree” button has been pressed (or such equivalent button or process).
11.8 You acknowledge that your intended recipient of a Transaction from your Account is not required to accept the Transaction. If an intended recipient declines a Transaction from your Account, your Account will be re-credited with the amount of the Transaction less any applicable Transaction Fees charged.
11.9 If you receive funds into your Account that were not intended to be transferred to you, we will be entitled to remove these funds from your Account.
11.10 You must ensure that the Payment details you enter when making a Withdrawal are correct and complete. We will not be liable for withdrawn funds being sent to the wrong account where this is due to you providing incorrect Payment details. When withdrawing to a bank account, you must ensure that the account number, sort code, IBAN and/or BIC/SWIFT are correct. If you have withdrawn funds to the wrong account, you may request that we assist you in reclaiming the funds. However, we will charge you an administration fee of up to £ 25 British Pounds (GBP) for doing so and we cannot guarantee that the reclaim efforts will be successful.
11.11 You shall:
11.11.1 comply with Guavapay’s anti-money laundering policy as updated from time to time.
11.11.2 comply with all applicable laws and regulations at all times.
11.11.3 comply with all policies, guidelines and directions relating to the Guavapay Service issued by Guavapay from time to time.
11.12 You acknowledge and agree that Guavapay:
11.12.1 has no control over the payment schemes and whilst some payment schemes are instant, others may delay, in particular over the weekend and bank holidays. In addition, our compliance review process may add a factor of delay;
11.12.2 has no responsibility for any legal or regulatory obligation to which you may be subject or the consequences of any failure on your part to comply therewith whether or not arising out of or in connection with the operation of your Account; and
11.12.3 may, in its sole discretion, suspend or close any Account or decline to provide the Guavapay Services under the Agreement, should Guavapay determine that (i) the provision of such Services would violate applicable laws and/or regulations, including but not limited to AML/CFT laws and regulations and economic and trade sanctions laws, or (ii) involve, directly or indirectly, any countries, individuals or entities sanctioned by the United Kingdom, European Union, United States of America and/or United Nations or by any other applicable jurisdiction, without any liability on the part of the Guavapay or (iii) your usage of Account differs from its specific purposes.
12 How can I set up a Recurring Payment?
12.1 Recurring Payments are an arrangement between you and the relevant Merchant in respect of goods or services paid at regular intervals which will be deducted from your Account, direct debits and standing orders are such an example (standing orders are not yet active, we will inform you when they are). You may set Recurring Payments on the Merchant website or by visiting your Account.
12.2 If you wish to amend or cancel your Recurring Payment or have any query or dispute concerning your Recurring Payment such as a billing provider in respect of a direct debit, you may only do this by contacting the Merchant or party you pay to directly and the Terms set by the Merchant will apply. Once you have contacted the Merchant you should inform us. We are unable to cancel or amend Recurring Payment such as a direct debit without the consent of the Merchant. You should not cancel or otherwise reverse a Recurring Payment without contacting the Merchant first. You will not be able to cancel a Payment that has already been made to a Merchant. Guavapay shall not be held liable for consequential, direct, indirect or special losses, damages or equivalent whether directly or indirectly caused by such Recurring Payment cancellation.
12.3 You may amend or cancel standing orders from the Account. We will not be liable for any Recurring Payment that is deducted from your Account under any circumstances.
12.4 Nothing herein limits your rights under the Direct Debit Guarantee Scheme (which is managed by Pay.UK, the recognised operator and standards body for the UK’s interbank retail payment systems). If an error is made with a direct debit, you will be entitled to a refund from the payee or us under the Direct Debit Guarantee.
12.5 It is your responsibility to ensure that your Account has sufficient funds to make each Recurring Payment. We shall not be liable for any fees, charges you may incur as a result of there being insufficient funds in your Account to meet your obligations under a Recurring Payment arrangement. If your Account goes into a negative balance, the terms set out in clause 19 (Chargebacks, Negative Balances And Refunds) shall be applicable.
12.6 A payment made by way of Recurring Payment is a “Payment” as defined in these Terms and the normal Fees will be applied to each Payment.
12.7 We will refund any past Recurring Payment(s) initiated by or through the Merchant provided that: (a) the original authorisation given to us or the Merchant did not specify the exact amount of the Payment and (b) the amount of the Payment exceeded the amount that you could reasonably have expected taking into account your previous spending pattern and the circumstances of the case. You must request such a refund within eight (8) weeks from the date the funds were debited from your Account. You agree to provide us with such information as is reasonably necessary to ascertain whether the conditions for a refund described in this clause are satisfied. Within ten (10) Business Days of receiving a request for a refund or, where applicable, of receiving all further information we requested from you, we will either refund the full amount of the payment or provide you with justification for refusing to refund the payment and will refer you to our Complaints Policy and indicate that you have a right to refer the matter to the Financial Ombudsman Service if you do not accept the justification provided.
13 How can I close my Account and get my money back?
13.1 If you wish to close your Account, you may do so by notifying us in writing or simply following the instructions on the app or Website. Subject to clause 15.3 below, you may redeem at par all of the balance of electronic money in your Account (excluding amounts that have not cleared your financial institution) by selecting one of the Withdrawal options available to you in your country of residence or by using your Card at any ATM.
13.2 We will process the Withdrawal request provided all identity and security validation and verification checks are successfully completed.
13.3 Depending on the method of Withdrawal you choose, a Fee may be applicable which will be deducted from the balance in your Account prior to Withdrawal.
14 How can Guavapay protect me and other Account Owners from fraud?
14.1 We may refuse to execute any Transaction in, but not limited to, the following circumstances:
14.1.1 we reasonably believe that you did not give us the instruction;
14.1.2 we reasonably suspect fraudulent activity;
14.1.3 we reasonably suspect the Account is being used for a purpose other than that for which it was designated, for instance a personal Account being used as a business Account;
14.1.4 your instructions are unclear, incomplete or not in the required form;
14.1.5 we suspect that the Agreement have been violated;
14.1.6 we need to do so in order to comply with payment schemes or any international payment system rule applicable; or
14.1.7 where we are otherwise required to do so by applicable law, regulation or requirement of any applicable regulatory body.
14.2 We may notify you of such refusal, our reasons for doing so and, where applicable, how to rectify the error that led to the refusal, unless such notification - or any part of it - is prohibited by any law or regulation.
14.3 Merchants may not be able to authorise a Payment if they cannot obtain online authorisation from us (for example, if they are unable to access the internet).
15 Who is responsible for erroneous or incomplete instructions?
15.1 You are fully responsible for the instructions you give to us and as a result, we may not be able to detect errors in your Transaction instructions. It is important that you ensure all the details entered in respect of any Transaction are accurate. Any Transaction will be deemed to have been correctly executed where it has been executed in accordance with your instructions. However, we may in some circumstances, be able to assist you in recovering the funds involved and will apply the relevant Fee for doing so, see the Fees section.
15.2 Transactions are final and are not reversible save in the following circumstances and at our sole discretion:
15.2.1 where we confirm there has been a Merchant error;
15.2.2 where there is an illegal activity involving your Account; or
15.2.3 where you are in breach of these Agreement.
15.3 You acknowledge that certain of our Transaction options will require different types and levels of identity and security validation and verification checks, including the use of third-party validation and verification systems, and you agree to us applying our reasonable discretion in using and sharing relevant personal data to conduct such identity and security validation and verification checks if you choose such options.
15.4 You also acknowledge that for security purposes, certain of our Transaction options impose minimum and maximum limits on the amounts that may be transferred. We reserve the right to impose limits on the amount of any Transaction and the frequency you may use a particular Transaction option. Further information may be available upon request sent to [email protected]. These limits are subject to change from time to time without notice.
16 Card expiry, loss and damage. What can I do?
16.1 Your Card is valid for the period stated on the face of the Card unless its use is cancelled earlier by you or us in accordance with this Agreement. Transactions will not be authorised once your Card expires or if it is cancelled.
16.2 Upon expiry of your Card, we will only automatically renew Cards that have been used within the 12 months prior to expiry. A charge will not be applied if your Card is automatically renewed.
16.3 If you so request, we will replace a Card that has been lost, stolen or damaged. A Fee will be applicable for replacing a Card that has been lost, stolen or damaged.
16.4 If you find your Card after you have reported it lost, stolen or misused, you must destroy it and inform us immediately.
17 What Fees will I pay?
17.1 We will charge the Fees as published on our Website for usage of your Account. You authorise us to debit from your Account any applicable Fees at the time of a Transaction or other chargeable activity. To the extent possible transaction fees are displayed in MyGuava (whether through the app or Website) before a Transaction is submitted.
17.2 We may charge you certain administration Fees, including, but not limited to, in relation to the ongoing management of inactive Accounts, debt collection and reprocessing charges in case of insufficient funds. You shall ensure that there are sufficient funds in the Account(s) to meet the liabilities in order to prevent a negative balance. In the event that there are insufficient funds to meet the Fees, we reserve the right to take appropriate measures, including set-off.
17.3 All Fees will be charged in the currency of your Account and you agree that we may debit by way of set-off from your Account any Fees, charges or other amounts owing to us and payable by you in connection with the Guavapay Service. All Card Fees will be charged in the currency of your Account, regardless of the currency of the Card or the Transaction.
17.4 Customised fees applicable to business customers will be discussed and agreed prior to the customer application process. Where customised fees apply, they supersede provisions in the Fees section of the Website, and for the avoidance of doubt, such customised fees are an integral part of the Agreement.
17.5 We reserve the right to modify the Fees from time to time, except customised fees which may only be amended with the mutual agreement of the Account Owner. Updates will be indicated on the Fees page of our Website. Changes to the reference exchange rate shall apply immediately without prior notice.
17.6 The aforementioned fees apply solely to the services provided by Guavapay and do not cover any additional charges that may be imposed by third-party service providers or financial institutions. Please be aware that some ATM providers charge additional fees for the use of their ATMs. It is your responsibility to check before proceeding with your Transaction.
18 Currency exchange
18.1 Once your Account is opened, you have the option of choosing from a list of currencies, which will be the currency in which your Account will be denominated.
18.2 If you use your Card or Account to make a Transaction in a currency other than the currency of your Account, then such a Transaction will be converted to the currency of your Account on the day we receive final settlement for the Transaction (typically 72 hours after you made the Transaction). You will receive an estimate of the converted amount at the time you make the Transaction, but this may be less, or more, than the final amount deducted from your Account due to exchange rate fluctuations. A foreign exchange fee will also apply (see the Fees section on our Website for further details).
18.3 Any Transaction you make in a currency which is different to both the currency of your Card and your Account, will incur an additional foreign exchange fee (you will be charged an exchange fee for the currency conversion from the Transaction currency into the currency of your Card and a further fee for the currency conversion into the currency of your Account). We recommend that you choose the same currency for your Card as the currency of your Account.
19 When things don’t go as planned: Chargebacks, negative balances and Refunds – Applicable for Cardholder customers
19.1 If you choose an Upload method using a Payment method that may be subject to a right to claim funds back (a "Chargeback") such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such Chargeback other than for unauthorised use of the Payment method or for a breach by us of these Terms, which would result in you having a right to a refund of the uploaded amount. Otherwise, you may not Chargeback any Upload or allow Chargeback of any Upload for reasons for which we are not responsible including (but not limited to) disputes with Merchants for non-delivery of goods or services or insufficient balance on the Payment method account. We reserve the right to charge you fees and expenses we incur in connection with such Chargeback and any action undertaken to challenge the same. We may also charge you a Chargeback fee of £25 British Pounds (GBP).
19.2 Without limiting our rights or remedies, if you initiate a Chargeback, cancel, reverse or de-authorise a Payment in such circumstances, you are responsible for refunding the payment to us. We may, at our discretion, recover the amount by reducing your Account balance, re-charging your credit card or bank account for the amount or otherwise collecting such amount from you.
19.3 If a negative balance is created in your Account (e.g. due to a Chargeback, reversal of an Upload, or a Transaction is processed for a larger amount than the amount of available funds in your Account) or if you cause your Account to go into a negative balance for any other reason, you will be required to repay such negative balance by uploading sufficient funds into your Account to bring it back to at least a zero balance. Your failure to do so is a breach of the Agreement. You agree to pay us the outstanding amount immediately on demand. We reserve the right to automatically debit such outstanding amount from any Uploads you subsequently make to your Account. We shall be entitled to charge you for any reasonable expenses we incur as a result of any negative balance on your Account.
19.4 We reserve the right, at any time, to send you reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge you the expenses we reasonably incur in connection with any such debt collection or enforcement efforts. This provision shall survive termination of the relationship between you and us.
19.5 If you receive a refund for purchases made with your Card, the refund will be paid to your Account. For legal reasons, you are not entitled to receive refunds in cash for Transactions made using your Card. Refunds may take up to 30 days to process.
19.6 Once you have used the Guavapay Service to make a purchase, we are unable to stop that Transaction. However, where you have used your Card to buy goods or services you may have a claim against the Merchant if the goods or services are unsatisfactory, not supplied, supplied only in part or do not match the supplier’s description. You must notify us of any dispute within 60 days of the purchase and the Chargeback will only be applied to your Account if successfully secured from the Merchant through the relevant payment schemes. Payment schemes will determine who will win the chargeback. If you wrongly make a Chargeback claim, we will be entitled to charge you any fees we reasonably incur in pursuing the Chargeback claim and we will be entitled to debit your Account with the amount of any such fees.
20 Exciting things: promotions and rewards
20.1 From time to time, we may offer incentives, rewards or other promotional activities. Such promotions will be subject to the specific rules. We reserve the right to cancel or amend the terms of any such promotions at our discretion. You have the right to opt out of such promotions.
20.2 Depending on your Transactions you may be eligible for cashback, it is one of the ways we reward your loyalty as a customer. Cashback will be applied automatically and on a regular basis to your account where Transactions qualify. We reserve the right to withhold cashback if your Account is negative or it is suspended or undergoing investigation for breach of these Terms such as fraud. There may be a cap on your cashback for which you will be notified in the app or on the Website.
21 What activities are prohibited?
21.1 You agree to use your Account in accordance with these Terms and Guavapay’s list of prohibited activities which is set out at Prohibited Transactions, we reserve the right to update this list from time to time.
21.2 Key to this is that you undertake not to use the Account or any of the Guavapay Services for purposes contrary to applicable law and regulation.
22 How you can keep your Account and Card safe
22.1 Where you are an individual, it is your responsibility to keep your Account and Card safe. Your Card is personal to you and you must not give it to anyone else to use. The same goes for log in and other security details related to the Account.
22.2 Where you are an organisation, you may appoint more than one Cardholder(s), in addition, your Account Manager is responsible for keeping your Account and Cards safe. You are always responsible for the security of the Account and Cards.
22.3 In all cases, you must take all reasonable precautions to keep your Account Identifier (‘ID’) information confidential and secure. This includes ensuring the ongoing security of your Account ID Information, your personal computer or other device(s) for accessing the Internet. You are required to change your password regularly and to use up to date virus, malware and spyware scanning software and firewall protection to reduce the risk of a security breach.
22.4 It is your responsibility to keep your login and password safe and you must not give it to anyone else to use.
22.5 You will be able to set a Personal Identification Number (‘PIN’) for your physical Card through the app or Website and you must keep your PIN safe. This means that when you receive your PIN you must memorise it and destroy or keep confidential the letter containing details of the PIN. You must keep your PIN secret at all times. You must not disclose your PIN to anyone including friends, family, us or any Merchant. You must not write down your PIN anywhere. You must not use your PIN if someone else can see you typing it in. You must comply with the security procedures we tell you about from time to time.
22.6 If you suspect that someone else knows your Account ID information, login/password or either it or your Card has been lost, stolen, misappropriated, used without authorisation or otherwise compromised you are advised to change your password. You must contact the Customer Support without undue delay if you become aware of any loss, theft, misappropriation or unauthorised use of your Card or Account ID information. Any undue delay in notifying us may not only affect the security of your Account but may result in you being liable for any losses as a result where your failure to notify us is intentional or grossly negligent. If you suspect that your Account was accessed by someone else, you should also contact the relevant authorities, such as the police and report the incident. If you forget your PIN you can retrieve the details by logging into your Account. It is important you keep your Account details safe and secure as it provides access to your virtual cards and physical Card PINs. If you forgot your Account details, you will be able to recover them from the system.
22.7 We may suspend your Card and/or your Account or otherwise restrict its functionality on reasonable grounds relating to the security of the Card or the Account or any of their security features or if we reasonably suspect that an unauthorised or fraudulent use of your Card or Account has occurred or that any of its security features have been compromised. We will notify you of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist, and/or after you provided enough comfort.
22.8 If we think your Card or your Account is at risk of fraud or a security threat, we will use the fastest and most secure way of contacting you using the details you have provided to share our guidance as per the next steps to follow to mitigate such risk.
22.9 Where Guavapay enables Cards to be registered/stored within third-party apps/devices such as, but without limitation, GooglePay and ApplePay, the security credentials relating to those third-party apps/devices will also be deemed to be security credentials relating to the use of Cards.
23 Privacy
23.1 You explicitly consent to us accessing, processing, and retaining any information you provide to us, for the purposes of providing payment services to you.
23.2 You acknowledge and agree that Guavapay reserves the right to access and disclose personal data relating to you to comply with all applicable laws and regulations, including lawful requests from government and/or other regulatory authorities, and/or to protect Guavapay, its customers and other users. And you acknowledge and agree that Guavapay reserves the right to disclose personal data to third parties if Guavapay has reasonable reason to believe your use of the Account is in violation of these Terms or if Guavapay is otherwise obliged or needs to disclose such information to any relevant authority. You acknowledge and accept that: (i) when speaking to our Customer Support agents, your call may be monitored and/or recorded for quality assurance, training and security and fraud protection purposes; (ii) for fraud and security purposes your records are kept by us even after your Account is closed; and (iii) for identity validation and verification purposes, the following information may be provided to Merchants with whom you make a Transaction: name, Account number, jurisdiction, country of residence, nationality, residential address, postal code, email address, date of birth, and/or IP address.
23.3 You may withdraw this consent by closing your Account. If you withdraw consent in this way, we will cease using your data for this purpose, but may continue to process your data for other purposes where we have other lawful grounds to do so, such as where we are legally required to keep records of Transactions.
23.4 This does not affect our respective rights and obligations under Data Protection Legislation. We will ensure that all your personal information is held in accordance with the data privacy and security provisions of applicable law and our published Privacy Policy. Your use of the Guavapay Services is subject to the Privacy Policy which you agree to as part of these Terms.
23.5 Please make yourself familiar with the Privacy Policy, which forms part of these Terms and can be found here on our Website. Guavapay in its sole discretion may amend the Privacy Policy by an update on the Privacy Policy page of the Guavapay Website.
23.6 We will retain any data pertaining to your use of the Account for a period of six (6) years following closure of an Account in order to comply with Applicable Law.
24 Suspending or closing your Account and cancelling your Card
24.1 You have the right to close your Account and thereby terminate the Agreement with us (and your right to use the Guavapay Services) at any time by notifying our Customer Support. If your Account holds a balance at the time of its closure, we will ask you to withdraw your funds within a reasonable period of time, during which your Account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period you will not be able to access your Account but you might be able to withdraw any remaining funds by contacting the Customer Support and requesting that the funds are sent to you in a manner that is reasonably acceptable for us. If you want to access your transaction history after the closure of your Account, you will need to contact the Customer Support. You may do so for a period of six years from the date of closure of your Account but we suggest that you withdraw your remaining funds as soon as possible as they will not earn any interest while in your Account.
24.2 You can block your Card through the app or website. You will be responsible for any Transactions you have made or charges incurred before you cancelled your Card. Cancellation of your Card will not automatically close your Account unless (i) you instruct us to also close your Account; or (ii) you are cancelling due to a change to these Terms.
24.3 We reserve the right to terminate these Terms and thereby cancel your Card and close your Account by giving you two (2) months’ prior notice. If we do close your Account, we will also cancel any Card linked to your Account. Where termination is as a result of an event, act or omission that renders the Terms unenforceable, void or discharged (including as a result of illegality or change of law) we reserve the right to terminate the Terms and close your Account with immediate effect.
24.4 Notwithstanding the above, we may, at our discretion, suspend or restrict access to your Account (including without limitation, placing a hold on funds in your Account, limiting your ability to make Transactions on your Account, suspending or terminating your Card, and limiting your payment options), remove you from and/or not allow you to participate in any or all of our benefit schemes (including, without limitation, our reward scheme and our promotions) or close your Account, at any time, without notice, in any of the following circumstances:
24.4.1 If you breach any of these Terms;
24.4.2 If we have reasonable grounds to believe that your Account has been used without your authorisation, or in connection with an unauthorised or unusual Transaction or unauthorised or unusual credit card or bank account use (including without limitation, notice of the same by your bank or credit card issuer);
24.4.3 If we have reasonable grounds to believe that your Account has been used in connection with a Prohibited Transaction;
24.4.4 If at any time we determine that you have provided us with any false, inaccurate, incomplete or misleading information or any name, bank account or credit card information that you are not legally authorised to use;
24.4.5 In case of abuse by you of the reversal or charge back process provided by your bank or credit card company or any similar behaviour where an Upload is de-authorised, reversed or cancelled after having authorised a Payment or Withdrawal of those funds;
24.4.6 If e-money is being credited to your Account as the result of fraud;
24.4.7 If you refuse to cooperate in an investigation or to provide adequate identity or security information or documentary evidence for verification when requested;
24.4.8 In case of initiation of Transactions that may be considered to be cash advances or assisting in cash advances;
24.4.9 If we reasonably believe your Account or Card has been used or allegedly used, or may be used, in, or to facilitate, any fraud, financial-crime related activity or any other illegal activity;
24.4.10 In case of return of a Payment for insufficient funds in your Account;
24.4.11 If we reasonably believe that your Account, whether active or dormant, or your conduct, poses a security, credit, fraud, business, or reputational risk to us;
24.4.12 If we can no longer process your Transactions for any legal or security reason or due to the actions of any third-party;
24.4.13 If an event, act or omission occurs that renders these Terms unenforceable, void or discharged (including as a result of illegality or change of law); or
24.4.14 Failure to pay negative balances as per these Terms.
24.5 Unless required to by applicable law and/or regulation, if we close your Account, we will notify you before doing so, either by email or by letter according to the most recent contact address that you have provided and return to you any unrestricted or undisputed funds in your Account (being funds not involved or otherwise connected with the circumstance giving rise to the limitation or closure) in accordance with your instructions.
24.6 We will notify you by email of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.
24.7 We will take reasonable steps to refund any monies to you following closure of your Account(s) and we will contact you if we cannot refund. Any funds which remain unclaimed for a period of six (6) years following closure of your Account shall expire and be forfeited and we reserve the right to give them to charity.
24.8 If an Account has been closed, for any reason, no further Transactions will be possible (except to return to you the funds in your Account in accordance with these Terms). In the event that a Fee is incurred or Transaction made on your Account prior to closure, you will be liable to pay any such sums to us on demand, notwithstanding the closure of your Account. This provision shall survive termination of the relationship between you and us.
24.9 Save as indicated otherwise within these Terms, on closure of your Account, these Terms will cease to apply and you will cease to be an Account Owner. If you wish to become an Account Owner again, you will need to reregister and open a new Account.
25 Fraud prevention
25.1 Guavapay takes fraud very seriously and will always endeavour to mitigate the risk of fraud to the best of its capabilities.
25.2 You are made aware that criminals are experts at impersonating people, organisations and various authorities, including the police. This could be done online, via email or through telephone calls. Guavapay would like to highlight some of the ways you can avoid becoming a victim of fraud.
Steps taken by Guavapay to protect you:
25.3 Checks on Transactions in and out of your Account are part of Guavapay’s prevention measures.
25.4 Guavapay may take whatever action is considered appropriate to meet any of its obligations, either in the UK or elsewhere in the world relating to the prevention of fraud, crime, money laundering or terrorist activity and to the provision of financial and other services to persons who may be subject to sanctions.
25.5 This may include, but is not limited to, investigating and intercepting Transactions from your Account and investigating the intended payer or payee or source of funds. Checks to identify and verify identities of Account holders and connected persons, as well as screens for financial embargoes or other sanctions are also part of Guavapay’s fraud prevention process. Additionally, Cards activities are closely monitored.
25.6 Carrying out the verifications mentioned above may delay the processing of Payment instructions or the receipt of cleared funds, but where practicable and permitted, you shall be advised of the reasons for any delay and shall be kept updated.
25.7 Guavapay may decline to process a Transaction into or from your Account, where it is reasonably believed that such Transaction is unlawful.
25.8 In circumstances where a Payment is made into an Account and Guavapay, the paying bank or a banking partner know or suspect that it was made fraudulently or as a result of fraud, Guavapay may:
25.8.1 refuse to process the Transaction relation to the recipient Account, including an instruction by you to pay the money away from your Account; and/or
25.8.2 debit the amount that was received from your Account and return it back to the sender, paying bank or banking partner without notice.
25.9 Without prejudice to the generality of clause immediately below (Warranties, Liabilities and Disclaimers), Guavapay shall not be responsible to you or any third-party for any loss, expense, costs, damage or other liability suffered as a result of any delay to or rejection of the processing of a Transaction further to Guavapay’s fraud prevention measures set out above, or as a result of the payment back of any money known or suspected to have been paid in an Account fraudulently or as a result of a fraud.
What you can do to protect yourself
25.10 We advise you to:
25.10.1 Not transfer money to an account whose details don’t match the ones provided by us;
25.10.2 Make sure that correct telephone number and email addresses are updated on your profile at all times;
25.10.3 Avoid sending emails on public internet networks (public wifi);
25.10.4 Keep your devices updated with current anti-virus software, latest browser versions and relevant security patches and updates;
25.10.5 Never install any software, or grant remote access to a computer you are using as the result of a cold call or online marketing for products and services;
25.10.6 Stay alert – fraudsters may make contact pretending to be from Guavapay, a bank, the police or another trusted organisation and ask you to transfer money to another account or to disclose personal confidential information. A genuine organisation will never make contact with such requests; and
25.10.7 Be aware of phishing emails or texts, and specifically not to open any links or attachments within them; and of emails or text messages claiming to be from a person at Guavapay asking for private information or asking to make a payment. If such unexpected email or text message is received from Guavapay, notification of the same should be made either by email at [email protected], by phone on +442045771440 or by chat.
26 Warranties, liabilities and disclaimers
26.1 We shall make reasonable efforts to ensure that debits and credits to your Account are processed in a timely manner. However, a number of factors, several of which are outside of our control, will contribute to when the processing will be completed. For example, if you are Cardholder customer and as your Card is linked to your Account, your Card may not work if there are problems with the Guavapay Service, and your ability to use your Card may be interrupted when maintenance works to the Guavapay Service are carried out. We make no representations or warranties as to continuous, uninterrupted or secure access to the Guavapay Service, which may be affected by factors outside our control, or may be subject to periodic testing, repair, upgrade, outages or maintenance.
26.2 We consider that prior to opening your Account you have determined that opening and maintaining your Account does not violate any law or regulations in your country of residence and jurisdiction. You warrant that you are not violating any laws or regulations by your use of the Guavapay Service and you agree to pay us, our affiliates, holding companies, subsidiaries, agents and subcontractors, the amount of all claims, losses, damages, expenses and liabilities whatsoever suffered or incurred by us, our affiliates, holding companies, subsidiaries, agents or subcontractors as a result of your use of the Guavapay Service in violation of any law or regulation or this Agreement. This provision shall survive termination of the relationship between you and us.
26.3 We make no express warranties, guaranties, or conditions to you with respect to the Guavapay Services except as set out in these Terms, and all implied and statutory warranties and conditions, including without limitation any warranty or condition of fitness for a particular purpose are hereby expressly disclaimed except where implied or statutory warranties cannot be disclaimed by applicable law.
26.4 In the case of an unauthorised Payment or a Payment that was incorrectly executed due to an error by us, we shall, as soon as practicable, refund the payment amount including all fees deducted therefrom. This shall not apply:
26.4.1 Where the unauthorised Payment arises from your failure to keep your Account ID information safe in accordance with these Terms;
26.4.2 If you fail to notify us without undue delay of any loss of your password or other event that could reasonably be expected to have compromised the security of your Account after you have gained knowledge of such event in which case you shall remain liable for losses incurred until you notify us;
26.4.3 If the transaction was unauthorised but you have acted fraudulently or compromised the security of your Account with intent or gross negligence, in which case you shall be solely liable for all losses; or
26.4.4 If you fail to dispute and bring the unauthorised or incorrectly executed transaction to our attention within 13 months from the date of the Transaction.
26.5 Without prejudice to the foregoing, you are asked to check the transactions history of your Account regularly and frequently and to contact the Customer Support immediately in case you have any questions or concerns.
26.6 In the case of any incorrect or misdirected Transaction, we shall take reasonable measures to assist you with tracing and recovering such Payments, as long as you have notified it to us in timely matter and in accordance with this Agreement.
26.7 Subject to the foregoing, we shall not be liable for any disruption or impairment of our service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control or the control of the intermediary affected.
26.8 We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.
26.9 Nothing in these Terms shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.
26.10 Our obligation under these Terms is limited to providing you with an electronic money account and related payment services and we do not make any statement in relation to or endorsement of the quality, safety or legality of any goods or services provided by a Merchant or intermediary. Our liability in connection with these Terms and the Agreement (whether arising in contract, tort (including negligence), breach of statutory duty or otherwise) shall be subject to the following exclusions and limitations:
26.10.1 We shall not be liable for any default resulting directly or indirectly from any cause beyond our control, including but not limited to, a lack of funds and/or failure of network services at ATMs, maximum withdrawal limits set by ATM operators and failure of data processing systems;
26.10.2 We shall not be liable for any loss of profits, loss of business, or any indirect, consequential, special or punitive losses;
26.10.3 Where the Guavapay Card is faulty due to our default, our liability shall be limited to replacement of the Card;
26.10.4 Where sums are incorrectly deducted from your available balance due to our default, our liability shall be limited to payment to you of an equivalent amount;
26.10.5 In the unlikely event that sums are deducted from your available balance but neither the Account Owner nor an Authorised User did authorise such deduction in accordance with these Terms then we shall refund the amount and return the Account to the position it would have been had the Transaction not taken place and we will not have any further obligation to you. Note that we are not obliged to refund the unauthorised sums if we have reason to believe that either you or an Authorised User have acted fraudulently; and
26.10.6 In all other circumstances of our default, our liability will be limited to redemption of the available balance.
26.11 We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from your use of the Account or services provided in these Terms.
26.12 You agree to defend, reimburse or compensate us and hold us and our other companies in our corporate group harmless from any claim, demand, expenses or costs (including legal fees, fines or penalties) that we incur or suffer due to or arising out of your or your agents' or Authorised Users’ breach of these Terms, breach of any applicable law or regulation and/or use of the Guavapay Services. This provision shall survive termination of the relationship between you and us.
26.13 The exclusions and limitations in these Terms shall extend to any liability of our affiliates and providers such as Card Schemes, and other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with the Agreement.
26.14 You confirm that Guavapay retains all right, title, and interest in and to all trademarks, trade names, logos, Website designs, text, content and graphics, and other intellectual property rights used by us in relation to the Guavapay Service and any use, reproduction, modification, or distribution by you of such trademarks, trade names, logos, Website designs, text, content, graphics, or other intellectual property rights, is prohibited.
27 RISK WARNING
27.1 THIS RISK WARNING IS DIRECTED AT ACCOUNT OWNERS WHO WISH TO MAKE PAYMENTS TO INVESTMENT COMPANIES, INCLUDING BUT NOT LIMITED TO FOREIGN EXCHANGE BROKERS AND CRYPTOCURRENCY EXCHANGES. THIS RISK WARNING IS NOT INVESTMENT ADVICE. ACCOUNT OWNERS BEING INDIVIDUALS AND FALLING INTO THE DEFINITION OF CONSUMER AS PER THE CONSUMER RIGHTS ACT 2015, ARE BEING WARNED OF THE BELOW.
27.2 FOR ALL INTENTS AND PURPOSES, IT IS REMINDED HERE THAT ALL INVESTMENTS INVOLVE DIFFERENT RISKS AND THAT PAST PERFORMANCE OF A FINANCIAL PRODUCT OR SECURITY DOES NOT GUARANTEE FUTURE RESULTS OR RETURN.
27.3 INVESTMENTS IN VIRTUAL CURRENCIES, SUCH AS CRYPTOCURRENCIES CARRY A HIGH RISK DUE TO THE UNREGULATED NATURE OF SUCH CURRENCIES AND THEIR HIGH VOLATILITY.
27.4 YOU ACCEPT TO BEAR THE CONSEQUENCES OF YOUR INVESTMENT DECISIONS WITHOUT HOLDING GUAVAPAY LIABLE FOR ANY EXPENSE, DAMAGE, CLAIM, COSTS OR EQUIVALENT RESULTING OF SUCH INVESTMENT DECISIONS.
27.5 GUAVAPAY IS UNDER NO OBLIGATION TO ASSESS WHETHER YOU HAVE SUFFICIENT KNOWLEDGE AND EXPERIENCE TO ENTER INTO A CRYPTOCURRENCY TRANSACTION OR OTHER TYPE OF INVESTMENT. ALL RISKS ASSOCIATED WITH ANY INVESTMENTS ARE YOUR SOLE RESPONSIBILITY AND YOU ACKNOWLEDGE AND ACCEPT THAT YOU SHALL CONDUCT YOUR OWN DUE DILIGENCE AND CONSULT WITH A FINANCIAL ADVISOR IF NECESSARY BEFORE MAKING INVESTMENTS DECISIONS.
28 Complaints procedure
28.1 Our Complaints Policy is available on the Website. Feel free to consult with this document for any complaint or dispute you may have concerning your Account or the Guavapay Services.
28.2 Where you do write to our Customer Support with a complaint, please clearly indicate that you are wishing to make a complaint to us. This helps us to distinguish a complaint from a mere query. We will promptly send you a complaint acknowledgment by post or by email following receipt of your complaint in accordance with our Complaints Policy.
28.3 We endeavour to provide you with an answer or resolution to your complaint as soon as possible and within the timeframes as outlined by applicable legislation and regulatory guidance. Should this not be possible due to unforeseen circumstances or lack of information, we will contact you.
28.4 Guavapay will not accept complaints pertaining to relations between you and another Account Owner or between you and a third-party. This clause only covers complaints pertaining to the lack of or poor execution of the Guavapay Services by us.
28.5 If your complaint is not resolved to your satisfaction, you may contact the Financial Ombudsman Service (FOS). The full procedure how to submit a FOS complaint is set out on their website: https://www.financial-ombudsman.org.uk/. In the alternative you could write the Financial Ombudsman Service at the following address: South Quay Plaza, 183 Marsh Wall, London E14 9SR, United Kingdom. You could call the Financial Ombudsman Service on the following phone number: 0800 023 4567.
29 General
29.1 We may engage the services of one or more affiliates, holding companies, subsidiaries, agents or subcontractors in order to fulfil our obligations.
29.2 The Agreement and all documents pertaining to it, including these Terms, shall be governed by the laws of England. All disputes arising out of or relating to these Terms shall be resolved by the English Courts.
29.3 We may send communications and notices to you at the email address or postal address you provided to us during the registration process (or as updated subsequently by you). Any and all communications and notices by either party under these Terms by email shall be deemed given on the day the email is sent, unless the sending party receives an electronic indication that the email was not delivered; and if by mail, shall be deemed given ten (10) Business Days after the date of mailing.
29.4 The Agreement is subject to amendment, modification or deletion if required by, or found to be in conflict with, applicable law or regulation, without affecting the validity or enforceability of the remaining Terms.
29.5 The Agreement and all documents pertaining to it, including these Terms, constitute the entire agreement between us and you with respect to the Guavapay Service and supersede and replace any and all prior agreements. In the event of inconsistency between this version of the Terms and the version on the Website, the version on the Website will prevail.
29.6 Our delay or failure to exercise or enforce any right under these Terms shall not be deemed to be a waiver of any such right or operate to bar the exercise or enforcement thereof at any time or times thereafter.
29.7 The rights and remedies available to us in these Terms are cumulative and are in addition to any other right or remedy available to us at law or in equity.
29.8 You may not transfer, novate, assign, subcontract or delegate your rights, duties or obligations under the Agreement. We reserve the right to transfer and assign these Terms, and you agree that we may assign any rights or novate any obligations hereunder to one of our group companies, without your further consent.
29.9 No provision in these Terms or the Agreement creates a partnership between you and us or makes either of us or you the agent of the other for any purpose. You have no authority to bind, to contract in the name of, or to create liability for us in any way for any purpose.
29.10 In the event that any part of these Terms and/or the Agreement is held not to be enforceable, this shall not affect the remainder of these Terms which shall remain in full force and effect.
29.11 In the event these Terms and/or the Agreement are available in a language other than English, all versions are legally binding; if there is any inconsistency between the English language version and a translated version, the English language version will prevail.
30 Guavapay support
30.1 Our Customer Support is open 24 hours a day, 7 days a week.
30.2 You can write to us at the address: Customer Support, Salisbury House, 29 Finsbury Circus, London EC2M 5QQ, United Kingdom.
30.3 You can chat with us through the app or website.
30.4 You can email us at [email protected].
30.5 You can call the Customer Support on +44 204 577 1440.
30.6 If you have any queries or require a copy of these Terms (or any document which comprises the Agreement), please contact our Customer Support on the details above.
The next three clauses apply to business account owners only
31 Compliance with applicable laws – applies to business accounts only
31.1 You will implement, maintain and comply with policies and procedures that are designed to detect and prevent money laundering, terrorist financing, proceeds of crime, fraud and/or other crimes, sanctions and offences and shall review and update such policies as necessary to reflect any changes in laws, regulations, applicable guidelines and/or market practice.
31.2 You will perform all necessary know your customer, anti-money laundering, sanctions and politically-exposed persons or other relevant background checks on each legal person or individual who utilises the Guavapay Services via you as required by applicable law and regulations.
31.3 Where required by applicable law and regulations, perform all necessary know your customer, anti-money laundering, sanctions and politically-exposed persons or other relevant background screening checks against intended beneficiaries.
32 Right of Audit – applies to business Accounts only
32.1 You shall grant Guavapay a right to audit your business on your premises on reasonable notice, in writing or by email in order to satisfy itself that you have complied with Guavapay’s anti-money laundering policy:
32.2 You shall fully cooperate and provide any and all information or documentation at the request of Guavapay that may be requested by any regulatory or governmental authority in connection with an examination or external audit from time to time.
33 Adding Authorised Users – applies to business Accounts only
33.1 Access to the Account is restricted to you, as the legal person who is the Account Owner, or to individuals that have been designated by the Account Owner as Authorised Users. To add an Authorised User you must notify us and subject to our approval through the application of the Website of all individuals you wish to be an Authorised User.
33.2 Each Authorised User is permitted to access and use the Guavapay Services in accordance with Terms as if they were you. This means you will be responsible for their use of the Guavapay Services.
33.3 You will ensure that Authorised Users:
33.3.1 take all reasonable care to ensure Guavapay Services access credentials, including login details to the Website and/or app (as applicable), are kept confidential to each Authorised User; and
33.3.2 do not share any information that would enable another party to access your Account.
33.4 You acknowledge and agree that each Authorised User is authorised by you to act on your behalf. Guavapay shall deem any instruction given by an Authorised User is an instruction given by you.
33.5 You will be responsible for timely notification to Guavapay of any revocation of Authorised User access and will be liable for Transactions made, Fees incurred and use of Guavapay Services by an Authorised User until Guavapay has had one full Business Day to act on any received notice.
34 Glossary: definitions and interpretation
34.1 In these Account Terms, the following words have the meaning set out beside them:
(a) “Account” means your account with Guavapay which holds electronic money.
(b) “Account Manager” means in the context of an Account Owner which is a legal entity (whether a business or other organisation), an individual person being an Authorised User who has been authorised by the Account Owner to be responsible for the management of the Account.
(c) “Account Owner”, “you” or “your” means any person who has entered into these Terms (and the Agreement) with Guavapay and is legally responsible for an Account.
(d) “AML/CFT” means Anti-Money Laundering/Combating the Financing of Terrorism.
(e) “Account ID Information” means any and all of the following pieces of information: your Card details (Card number, expiry date, and CVV code), your PIN, the information you use to log in to your Account, your secure identification number, security questions, and answers and other Account credentials and information specific to your Account.
(f) “Authorised User” means persons elected by the Account Owner to be responsible for the management of the Account.
(g) “Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday in England.
(h) “Card” means each card issued by Guavapay to you pursuant to our licence from a Cards Scheme provider such as Visa, Mastercard and UnionPay and which is connected to your Account. Cards may be physical or virtual as well as any version or record of such an issued payment instrument stored on an app or other platform, and which may be used to make Card Transactions.
(i) “Cardholder” means the individual authorised to use the Card issued to an Account Owner. In the context of a business or other organisation there could be more than one Cardholders, these individuals may be other than the Account Manager.
(j) “Card Schemes” means Mastercard, Visa and/or UnionPay or such other payment network through which Card Transactions are processed as may be made available by Guavapay from time to time.
(k) “Customer Support” means Guavapay’s central point from which all customer interactions across various channels are managed. You can contact our Customer Support by:
• Writing a letter to this address: Customer Support, Guavapay Limited, Salisbury House, 29 Finsbury Circus, London EC2M 5QQ, United Kingdom.
• Writing an email us at [email protected].
• By phone on +44 204 577 1440.
• By chat through the app or Website.
• Through specific contact forms on our Website:
◘ personal accounts: https://myguava.com/personal/help ; or
◘ business accounts: https://myguava.com/business/contact-us .
(l) “Data Protection Legislation” all applicable data protection and privacy legislation in force from time to time in the UK including the UK GDPR; the Data Protection Act 2018 (DPA 2018) (and regulations made thereunder); the Privacy and Electronic Communications Regulations 2003 (SI 2003/2426) as amended and all other legislation and regulatory requirements in force from time to time which apply to a party relating to the use of personal data (including the privacy of electronic communications); and the guidance and codes of practice issued by the Information Commissioner or other relevant regulatory authority and applicable to a party;
(m) “Fees” means any and all fees and charges levied by us for your use of the Guavapay Services, as stated in the Fees section of our Website. Where you are a business user bespoke fees will apply and these would have been communicated to you during the onboarding stage.
(n) “Merchant” means any commercial organisation that accepts Cards and other forms of payment from your Guavapay Account.
(o) “Guavapay”, “we”, “our”, “us” means Guavapay Limited, Company No.10601900, with its registered office located at Salisbury House, 29 Finsbury Circus, London, EC2M 5QQ, United Kingdom.
(p) “Guavapay Service” means the services provided by Guavapay and being any or all of the provision of a Guavapay Account, the issuance of a Card, the payment services including but not limited to the execution of payment Transactions and the execution of payment orders by transfer (money remittance).
(q) “Payment” means any of the following: (i) any payment made using your Card; (ii) the debiting of an amount of electronic money from your Account and the crediting of such amount to a Merchant account at the same time, or another person’s account, as designated by you (including by way of Recurring Payment); or (iii) the crediting of an amount of electronic money to your Account and the debiting of a Merchant account, or another person’s account.
(r) “PIN” means the personal identification number which we may issue or approve to be used with your Card.
(s) “Recurring Payment” is a service whereby an Account Owner requests that regular Payments be made from its Account at specified intervals such as direct debits and standing orders.
(t) “Transaction” means, as the context permits: (i) a Payment; or (b) a Withdrawal; or (c) an Upload; or d) a Recurring Payment; in each case less any applicable Fees.
(u) “Upload” means the crediting of funds to your Account.
(v) “Website” means the website available at https://myguava.com/, including https://myguava.com/business.
(w) “Withdrawal” means taking funds from your Account by using your Card at any ATM or by selecting one of the withdrawal methods available to you in your country of residence
34.2 These Terms shall apply to all individual Account Owners.
34.3 Section headings shall not affect the interpretation of these Terms.
34.4 A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality).
34.5 A reference to a holding company or a subsidiary means a holding company or a subsidiary (as the case may be) as defined in section 1159 of the Companies Act 2006.
34.6 Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
34.7 Any words following the terms "including", "include", "in particular", "for example" or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
