• API means the application programming interface provided by Moneliq.
• App means the mobile application software, the data supplied with the software and the associated media1.
• Balance means any amounts held in your Moneliq Account.
• Business Day means a day other than a Saturday, Sunday, or a public holiday in England when financial institutions are open for business.
• Framework Contract means a contract for payment services which governs the future execution of individual and successive payment transactions, and which may contain the obligation and conditions for setting up a payment account.
• Services means all products, services, content, features, technologies, or functions offered by us and all related websites, applications (including the App), and services (including the Website and API).
• Source Currency means the currency which you hold and/or fund your payment order with.
• Moneliq Account means the account you have opened with us in accordance with the terms of this Agreement.
• Website means any webpage, including but not limited to https://www.moneliq.com/, where we provide the Services to you.

3.1 You must be 18 years or over. If you are an individual, you must be 18 years or older to use our Services and by opening a Moneliq Account you declare that you are 18 years or older.

3.2 You must have authority to bind your business. If you are not a consumer, you confirm that you have authority to bind any business or entity on whose behalf you use our Services, and that business or entity accepts this Agreement.

3.3 Your use of the Moneliq Account must not violate any applicable laws. You commit to us that your opening and/or using of a Moneliq Account does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section.

4.1. About your Moneliq Account

• Your Moneliq Account allows you to hold, send or receive payments.
• The money held on your Moneliq Account does not expire other than when your account is closed, read these rules for more details.
• The money held on your Moneliq Account will not earn any interest.
• You may hold your money in any currencies which we support from time to time.
• You may withdraw money from your Moneliq Account at any time subject to certain conditions, please read these rules for more details.
• Certain limits may be placed on your Moneliq Account depending on your country of residence, verification checks or other legal considerations. Please contact us if you have any questions about these limits.
• The money held on your Moneliq Account belongs to the person or legal entity which is registered as the Moneliq Account holder.
• Unless you have our consent in writing, you must not allow anyone to operate your Moneliq Account on your behalf.

4.2. We follow the requirements under the UK Electronic Money Regulations 2011 which are designed to ensure the safety of funds held in money accounts like your Moneliq Account.

4.3. You may only use your Moneliq Account Number to receive funds into your Moneliq Account for the following purposes:

• receiving your own salary and/or wages
• receiving payouts from e-commerce and freelancer platforms
• receiving payments from family, friends, or other people you know for personal purposes
• receiving payments from your clients and other third parties for the purpose of business payments
• orders processing by Moneliq side behalf of you

Please note that you may not use your personal Moneliq account to receive business payments.

4.4. Getting started

• Open a Moneliq Account. To start using our Services, you must open a Moneliq Account and provide your details as prompted.
• Information must be accurate. All information you provide to us must be complete, accurate and truthful always. You must update this information whenever it changes. We cannot be responsible for any financial loss arising out of your failure to do so. We may ask you at any time to confirm the accuracy of your information and/or provide additional supporting documents.
• Transacting on your own account. All activities under a Moneliq Account shall be deemed as activities carried out by the registered user. You shall only use the Services to transact on your own account and not on behalf of any other person or entity.
• One account per person or entity. You may only open one Moneliq Account unless we have agreed in writing the opening of additional accounts. The Company may refuse the creation of duplicate accounts for the same user. Where duplicate accounts are detected, Moneliq may close or merge these duplicate accounts at its sole discretion.

4.5. Keep your Moneliq Account safe

4.5.1. What to do. You must:

• Change your password regularly and ensure that it isn’t reused across other online accounts.
• Contact our customer support if anyone asks for your Moneliq password.
• Set up 2-step authentication where prompted.
• Keep your e-mail account secure. You may reset your Moneliq Account password using your email address. Let our customer support knows immediately if your email address becomes compromised.

4.5.2. What NOT to do. You must NOT:

• Disclose your Moneliq Account password. Keep them safe.
• Let anyone access your Moneliq Account or watch you accessing it.
• Use any functionality that allows your login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded.
• Do anything which may in any way avoid or compromise the 2-step authentication process.

4.5.3. Contact us if you suspect your Moneliq Account has been compromised. If you suspect your Moneliq Account or other security credentials are stolen, lost, used without your authorisation, or otherwise compromised, you must contact our customer support immediately, you are also advised to change your password. Any undue delays in notifying us may affect the security of your Moneliq Account and result in you being responsible for financial losses.

4.5.4. You may authorise third parties to access your Moneliq Account to provide their services to you, including authorising them to initiate payments from your Moneliq Account. You acknowledge that if you authorise a third party to access your Moneliq Account, we may disclose certain information about your Moneliq Account to this third party. We are not responsible for any such third party’s use of your Moneliq Account or any information in your Moneliq Account. Granting permission to a third party does not relieve you of your responsibilities under this Agreement, including notifying us if your Moneliq Account has been compromised or if a transaction is incorrect or unauthorised.

4.6. Maintaining your Moneliq Account

4.6.1. All your transactions (including your current Balance, money you have received, sent and/or withdrawn) are recorded in the transaction history section of your Moneliq Account. You may access this information after you log in to your Moneliq Account. We have allocated a reference number to each transaction; you should quote this reference number when communicating with us about a particular transaction.

4.6.2. You must check your Moneliq Account regularly and carefully and contact us immediately if you don’t recognise a transaction or think we have made a payment incorrectly. You must tell us about any unauthorised or incorrectly executed transactions immediately; otherwise, you may not be entitled to have any errors corrected.

4.6.3. If your Moneliq Account goes into a negative amount, including because of a chargeback, reversal of a transaction, deduction of fees or any other action carried by you or a third party, that negative amount represents an amount you owe to Moneliq and you promise to repay the negative amount immediately without any notice from us. We may send you reminders or take such other reasonable actions to recover the negative amount from you, for example, we may use a debt collection service or take further legal actions. We may charge you for any costs we may incur because of these collection efforts.

4.6.4. You are responsible for any taxes which may be applicable to payments you make or receive, and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.

4.7. Closing your Moneliq Account

4.7.1. You may end this Agreement and close your Moneliq Account at any time by contacting our customer support.

4.7.2. At the time of closure, if you still have money in your Moneliq Account, you must withdraw your money within a reasonable period by following the steps described in section 9. After a reasonable period, you will no longer have access to your Moneliq Account, but you can still withdraw your money by contacting our customer support. You have the right to do this for a period of 5 years from the date your Moneliq Account is closed.

4.7.3. You must not close your Moneliq Account to avoid an investigation. If you attempt to close your Moneliq Account during an investigation, we may hold your money until the investigation is fully completed to protect our or a third party’s interest.

4.7.4. You agree that you will continue to be responsible for all obligations related to your Moneliq Account even after it is closed.

We are required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction for example, your recipient) to provide any Services to you. You agree to comply with any request from us for further information and provide such information in a format acceptable to us. In addition, you agree that we may make, directly or through any third party, any inquiries we consider necessary to validate the information you provided to us, including checking commercial databases or credit reports. You authorise us to obtain one or more of your credit reports, from time to time, to establish, update, or renew your Moneliq Account with us or in the event of a dispute relating to this Agreement and activity under your Moneliq Account.

6.1. To upload money, you need to log in to your Moneliq Account and follow the steps as they appear on screen. We are not responsible for the money you have uploaded until we have received them. For clarity, in an upload transaction, we are the recipient of funds and not the payment services provider.

6.2. You may be presented with one or more methods of upload for example, bank transfer, credit cards or debit cards (in this Agreement, we will call these methods “Paying Methods”). The number of Paying Methods made available to you will depend on several factors including where you live and your verification status with us. Paying Methods are not part of our Services, they are services provided by third parties for example, the card provider which issued you with your credit/debit card. We cannot guarantee the use of any Paying Method and may change or stop offering a Paying Method at any time without notice to you.

6.3. Payment instrument must be in your name. Any payment instrument (for example, the credit card or debit card) you use with your chosen Paying Method must be in your name.

6.4. Chargebacks on your payment instrument. If you selected a Paying Method which gives you chargeback rights (for example in relation to your credit card, you may ask your card provider to reverse a transaction on your card), you promise that you will only exercise this chargeback right if:

• we have breached this Agreement; or
• there was an unauthorised use of your payment instrument.

You promise that you will not exercise your chargeback right for reasons which we are not responsible, including a dispute with your recipient or if there are insufficient funds in your payment instrument. If we need to investigate or take any actions in connection with a chargeback raised by you, we may charge you for our costs in doing so and may deduct such amount from your Moneliq Account.

6.5. Upload limits on your Moneliq Account. For legal and security reasons, we impose limits on how much you can upload into your Moneliq Account.

6.6. When we will credit your Moneliq Account. We will credit your Moneliq Account once we have received your money. For some Paying Methods such as credit or debit card, we will credit the money to your Moneliq Account as soon as possible subject to our right of reversal.

7.1. To set up a payment order via your Moneliq Account, you need to provide certain information to us including (a) the full name of your recipient, (b) your recipient’s bank account details or their Moneliq Account details and (c) amount to be transferred.Please note that we may place limits on the amount you may send per transfer.

7.2. If your payment order is received by us after 5pm on a Business Day or not on a Business Day, your payment order will be deemed received on the following Business Day.

7.3. Once we have received your payment order, we will display it under the Activity section of your Moneliq account. Each payment order is given a unique transaction number which you can find there. You should quote this number when communicating with us about a particular payment order.

7.4. We will only process your payment order if we hold or have received sufficient cleared funds in your Moneliq Account. It is your responsibility to fund your payment order in a timely manner. We cannot be responsible for the time it takes for the money to be sent to us by your bank or payment service provider.

7.5. We carry out verification checks, and these checks may increase the time it takes to process your payment order. We cannot be responsible for any delays as a result of carrying out those checks.

7.6. The estimated completion time of your payment order is notified to you when you complete the setup of your payment order.

7.7. We will use reasonable efforts to ensure funds arrive at your recipient’s account within the notified timeframe. We will use reasonable efforts to ensure that the funds arrive in the recipient’s bank account or payment account within the timelines notified to you. We do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient.

7.8. If we are unable to complete your payment order, we will let you know and, if possible, the reasons for the refusal and an explanation of how to correct any factual errors. However, we are not required to notify you if such notification would be unlawful.

7.9. You can cancel your order before it is not started to process.

7.10. You must make sure that the information you provide when setting up a payment order is accurate. If we have processed your order in accordance with the information you have provided to us it will be considered correctly completed even if you have made a mistake.If you provide incorrect information with your payment order, we will use reasonable efforts to recover the funds for you and may need to charge you a fee for that.