1. Introduction

The Company Moneliq Limited (company number 12213334) is registered in England and Wales with registered address 30 Moorgate Office 516, London, United Kingdom, EC2R 6DN. We are regulated by the Financial Conduct Authority as an Electronic Money Institution under the Electronic Money Regulations No. 901056.
These are the rules on which we provide our Services to you. Please read them carefully before you start to use our Services.
These rules tell you who we are, how we will provide the Services to you, how these rules may be changed or ended, what to do if there is a problem and other important information. If you think that there is a mistake in these rules or require any changes, please contact us to discuss. These rules refer to the following additional documents, which also apply to your use of our Services:
  • Privacy Policy, which sets out the terms on which we process any personal data we collect about you, or that you provide to us. By using our Services, you consent to such processing, and you promise that all data provided by you is accurate.
  • Cookie Policy, which sets out information about the “cookies” on our website.
  • Terms and Conditions which sets out the permitted uses and prohibited uses of our Services.
By visiting our website and/or using our Services you confirm that you accept and agree to these rules. If you do not agree, please do not use our Services.
Please note that we can amend these rules from time to time. Please check this Agreement to ensure you understand the rules that apply at that time:
In some instances, we may change this Agreement immediately. Changes to this Agreement which are (1) more favourable to you; (2) required by law; or (3) related to the addition of a new service, extra functionality to the existing Service; or (4) changes which neither reduce your rights nor increase your responsibilities, will come into effect immediately if they are stated in the change notice.

2. Glossary

  • API means the application programming interface provided by Moneliq1.
  • 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, where we provide the Services to you.
1Your right to use the App and the API. In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive licence to use the App on your device and the API subject to this Agreement. We reserve all other rights.

3. Who can use our Services

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. Your Moneliq Account

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.

5. Getting to know you

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. Uploading money into 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. Sending money

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.

8. Receiving money

8.1. You can receive money into your Moneliq Account using methods which we support from time to time.
8.2. Any money you receive into your Moneliq Account will be recorded in the transaction history section of your Moneliq Account. You should check the incoming funds in your Moneliq Account against your own records regularly and let us know if there are any irregularities.
8.3. You acknowledge that the money received in your Moneliq Account ("Received Amount") may be subject to reversal and you agree that we may deduct the Received Amount from your Moneliq Account if it was reversed by the person who paid you the Received Amount or any relevant payment services provider.

9. Withdrawing from your Moneliq Account

9.1. After you log in to your Moneliq Account, you may request all or part of your money held in your Moneliq Account to be withdrawn.
9.2. You may be presented with one or more methods of withdrawal (in this Agreement, we will call these methods "Payout Methods"). The number of Payout Methods made available to you will depend on several factors including where you live and your verification status with us. We cannot guarantee the use of any Payout Method and may change or stop offering a Payout Method at any time without notice to you, but we will ensure that you will always have at least one Payout Method available to you.
9.3. Payout Methods are not part of our Services, they are services provided by third parties for example the bank where you hold your bank account. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.
9.4. When setting up your withdrawal request, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient because of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful.
9.5. You agree that your Moneliq Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you to provide additional documents to us so that we can carry out additional checks before allowing the money to be withdrawn.

10. Payment Processing Services

10.1. To use the Services, you must have, and continue to have, a Business account. If your Business account is closed, you will no longer be able to use the Services.
10.2. To use the Services, you must also apply to, and be accepted by, us. If you are a Business customer and we accept your application, we will activate your "Merchant account", which is used to access the Services.
10.2.1. Information which you need to provide
To apply to use the Services as a Business customer, you must provide us with the information we request about your business. This might include your website, merchant category code, average transaction ticket, highest transaction ticket, average monthly volumes, chargeback ratio, tax information, length of product fulfilment, the countries in which you will be carrying out your business activities, or any other information that we ask for. We call all this together the "Information".As well as reviewing the Information you provide, we may also need to undertake further due diligence which may include retrieving information about you and your business activity from third parties. These third parties may include our service providers, credit reporting agencies, background checks and information bureaus. By agreeing to this Agreement, you agree that we may retrieve this information, and you also agree that you will provide us with any reasonable assistance to provide that information.We may also request Information from you, retrieve information about you, or review the information we hold about how you are using the Services, after your account is opened. If any Information you have previously provided changes or becomes incomplete or out of date, you must let us know.We will review all the Information provided by you and the information retrieved about you from time to time and make a decision about whether to activate (or deactivate) your Merchant account.When you use a specific payment method, we may also need to share any Information received from you, or information obtained about you, or the information we hold about your use of the services, with the partners we use to provide that payment method. We may need to do this when we are deciding whether to offer you the Services, or while you're using the Services.
10.2.2. Permitted and prohibited actions
You can only use the Services to accept payments from people who purchase your goods or services in the course of your business activities. In this Agreement, we call these people "Customers", and we call each payment you accept or process for a Customer a "Transaction".You can also only use the Services yourself, and only in your own right, in the course of your business activities. This means that you cannot allow anyone other than you to use the Services and you cannot use the Services to accept or process payments on behalf of anyone else. It also means you cannot use the Services in a personal capacity, outside of your business activities. You are responsible and promise to pay us immediately if we suffer any loss, relating to any acts and omissions of anyone who uses your account to access the Services.You must also use the Services in a lawful and proper manner. This means that you must obey all international and domestic laws, rules, and regulations that apply. These may include the requirements of payment systems or other third parties, as well as legislative bodies.In particular, you must comply with any requirements relating to refunds, chargebacks, the use or provision of financial services, payment services, notification and consumer protection, unfair competition, privacy, advertising, and any other laws relevant to your Transactions.You cannot use the Services to process any other transactions prohibited by this Agreement either.If you accept or process any transactions that are prohibited by this Agreement between us, or we think your business is exposing us to an unacceptable risk, then we may immediately terminate or suspend your use of the Services, or refuse, refund, condition, or suspend the activities we think are in breach. We may also do this if we think you are trying to or are likely to do one of these things, even if you don't actually do it.
10.2.3. Types of transactions which you cannot process
You cannot use the Services to process any "Illegitimate Transaction". This means any transaction which is inaccurate, incomplete, not typical for your business, without the Customer's authorisation, contrary to any applicable laws, suspicious, fraudulent, or made for purposes other than in connection with the business purposes you have described to us. It also includes any transaction which is not a legitimate legal commercial transaction between you and your Customers for goods or services that are free of liens, claims, and encumbrances.We have no way of knowing if a transaction is an Illegitimate Transaction and you are responsible for identifying and preventing any Illegitimate Transactions. You must monitor whether your transactions are Illegitimate Transaction and, if you are unsure, take steps to ensure they are not Illegitimate Transactions before submitting them for processing. You are solely responsible for any losses you incur due to any Illegitimate Transactions.
10.2.4. You may not use the Services to enable you or any other person to benefit from any activities that we decide are a prohibited business or activity from time to time (collectively, "Prohibited Business"). Prohibited Business includes the use of the Services in or for the benefit of a country, organisation, entity, or person embargoed or blocked by any government, including those on sanctions lists identified by the United States Office of Foreign Asset Control (OFAC), the European Commission, or the United Kingdom. It also includes any business which we or any third party we use to process payments otherwise decides is a Prohibited Business.If you are uncertain whether a category of business or activity is a Prohibited Business or have questions about how these restrictions apply to you, please contact us.
10.3. You are solely responsible for your relationship with your customers. This means that you are solely responsible for the nature and quality of the products or services you provide, their delivery, support, refunds, returns, disputes, and chargebacks, and for any other aspect of your relationship with your customers. You undertake to us to meet your responsibilities to your customers under any applicable laws.We are not responsible in any way for your relationship with your customers or otherwise for the products or services you publicise or sell. In particular, we will not provide your customers with any support regarding Transaction receipts, product, or service delivery, returns, refunds, and any other issues related to your products, services, or business.
However, it is very important to us that your Customers understand the purpose, amount, and conditions of the charges you submit using the Services. With that in mind, when using the Services, you must:
  • accurately communicate, and not misrepresent, to your customers the nature of the Transaction, prior to submitting it to us
  • provide Customers a meaningful way to contact you in the event that the product or service is not provided as described
  • not use Services to sell products or services in a manner that is unfair or deceptive, exposes Customers to unreasonable risks, or does not disclose material terms of a purchase in advance
  • not refund Charges in cash
  • follow any legal consumer protection obligations you have when you transact with individuals
  • have a reasonable return, refund, cancellation, or adjustment policy, and clearly explain the process by which Customers can access it.
We call these your "Seller Obligations".
10.4. Additionally, to the Business Fees, you are also responsible for any and all costs, penalties, liabilities, charges, fees, levies, expenses and/or Fines imposed on you or on us by us or any third party in connection with your use of the Services. This means you must pay any such amount on demand.
10.5. When will you receive the payments, we process for you?To provide the Services, we need to act on your behalf. You authorise and appoint us (and any third parties we use) as your agent to process, receive and settle any payment processing proceeds owed to you through the Services. This includes the act of directing, receiving, holding, and settling the proceeds of any Transaction.
10.5.1. Payouts
After we process a Transaction, we will settle the funds into (or out of) the relevant Business account in your name. We call this account a "Payout account" in this Agreement.
We may change the Payout Schedule, suspend any settlement to the Payout account, or suspend your entitlement to withdraw all or some of the balance of your Payout account at any time, including after this Agreement come to an end. For example, we may do so:
  • where there are pending, anticipated, or excessive disputes, refunds, or reversals
  • if we suspect or become aware of suspicious activity
  • if we reasonably determine that we may incur losses resulting from credit, fraud, or other legal risks associated with your activity
  • where we are required to by any applicable rules, obligations, or laws
  • if we have any other reasonable justification; or
  • if we suspend any settlement or withdrawal, we'll let you know why, unless we are legally not permitted to do so.
We may also reduce any amount settled to your Payout account by the amount of any fees, fines, or other amounts you owe to us for any reason. If the amount you owe us exceeds the amount due to you for settlement, we may also recover the amounts from other accounts you hold with us or from any payment method you have linked to your Business account.
Once we process a payout to your Payout account, this will satisfy your Customers obligations to make payments to you. Those obligations will still be satisfied, even if the money has not yet settled because of our rights to withhold all or part of a Transaction under this Agreement.
10.5.2. The Reserve
To protect ourselves against the risk of providing the Services to you, we will always withhold a percentage of each Transaction value processed for you for a period of time. We call this a "Reserve". The Reserve will be released to your Payout account after a specified length of time, subject to any other obligations you may have.
We will determine the Reserve, and the period of time it is held for, based on our assessment of the risk you pose. The percentage amount may be anywhere between 0% and 100%, and the period of time is also at our discretion.
We can change the percentage amount or the period of time at any notice, and we'll let you know if we do. For example, we may do so if:
  • your or your Customers' activities increase the risk of loss to us or to your Customers
  • you have violated this Agreement, or we think you are likely to
  • we think the number of disputes or refunds you have is high
  • we think that the period of time between a Transaction and delivery of your services to your Customer is significant
  • we have any other reasonable basis for doing so.
We may fund the Reserve with funds processed through your use of Services, by debiting the Payout Account or by exercising any other right we have to recover funds from you under this Agreement.
10.5.3. Clearing
All funds resulting from our processing of Transactions are held in pooled clearing accounts we hold with our banking partners. We will settle funds to and from these clearing accounts. However, you have no rights to the clearing accounts or to any funds held in them, or to any interest earned on them. You will only begin to have an entitlement to any funds once they are accessible in your Payout Account in accordance with this Agreement.
10.5.4. Security interests
You grant us a lien and security interest in all funds for Transactions that we process for you, including funds that we deposit into your Payout Accounts, as well as funds held in any other accounts to which such Transaction funds are deposited or transferred.
This means that if you have not paid funds that you owe to us, your Customers, or to any of our affiliates, we will have a right superior to the rights of any of your other creditors to seize or withhold funds owed to you for Transactions that we process through the Services, and to debit or withdraw funds from any account you hold with us. If we require it, you will need to execute and deliver any documents and pay any associated Fees we consider necessary to create, perfect, and maintain this security interest. If you don't wish to do this, we may need to terminate this Agreement for breach and stop providing the Services to you.
10.5.5. Dormant Accounts
If you leave any funds dormant and you do not give us instructions where to send them, we may be required by law to deem the funds to be abandoned by you. To the extent required by law, we will attempt to provide you notice if we hold funds payable to you in an account beyond the applicable dormancy period for abandoned property or under the Electronic Money Regulations. If we are unable to contact you, we will treat the funds to be abandoned. This may mean we need to deliver them to the appropriate government authority.
10.6. Disputes, refunds, and chargebacks
Even authorised Transactions may be subject to a dispute by a Customer, or otherwise reversed. We are not responsible for, or liable to you, for any Transaction which is later the subject of a dispute, refund, chargeback, other reversal or which is otherwise submitted without authorisation or proper basis. Rather, you are responsible to us for these things.
If a Transaction is reversed, this means that the amount you received will be taken out of your accounts and returned to the Customer. This will be shown on your transaction history. For example, we may reverse a Transaction where:
  • it was made in connection with an Illegitimate Transaction or a Prohibited Business
  • it was made following or in connection with a breach of this Agreement
  • a third-party partner (like a card scheme) has invalidated the charge, or it breaches their requirements
  • funds we settled to you without authorisation or otherwise in error; and
  • a successful claim.
You may have the ability to challenge a reversal by submitting evidence. We may request additional information to assist with assessing the challenge. We may need to share this information with the third parties we worked with to process the payment as well. However, we cannot guarantee that any challenge will be successful. We (or those third parties) may deny your challenge for any reason we (or they) deem appropriate. You may not submit a new charge which duplicates a Transaction that is subject to a dispute.You are also responsible for all losses you incur when lost or stolen payment credentials or accounts are used to purchase products or services from you. This is because we do not protect you against losses caused by fraud under any circumstances. For example, if someone pretends to be a legitimate buyer but is a fraudster, you will be responsible for any resulting costs, including any disputes, even if you do not recover the fraudulently purchased product.
If a transaction is reversed, you cannot resubmit it.
10.7. Reconciliation and error notification
You agree to review your Merchant account, and immediately notify us of any errors. We will investigate any reported errors, including any errors made by Moneliq or a third party we use to provide the Services, and, when appropriate, attempt to rectify them by crediting or debiting the Payout account.
However, you should be aware that your ability to recover funds you have lost due to an error may be very limited or even impossible, particularly if we did not cause the error, or if funds are no longer available in any Payout account.For Transaction errors, we will work with you and our third-party providers to correct a Transaction error in accordance with any applicable rules, regulations, or laws. If you fail to communicate an error to us for our review without undue delay and, in any event, within 13 months after you discovered it, you waive your right to make any claim against us or any third party we work with to deliver the services for any amounts associated with the error.
10.8. If Payment Terms do apply to a payment method, we'll let you know before you use the method, and the Payment Terms will form part of this agreement once you use the payment method. We may add, remove, or change payment methods at any time. When we do so, we will add, remove, or change the relevant Payment Terms, and let you know. Your continuing use of a payment method will constitute your agreement to any such additions, removals, and changes. Payment Terms, or additional terms for payment methods or types, may or may not be otherwise expressly referred to in this Agreement.
10.9. Merchant initiated transactions
We may allow you to use the Services to initiate payments on behalf of a consent you have obtained from a customer, but without the customer necessarily being present. We call these "merchant-initiated transactions". You cannot do this without our express permission.If you submit a merchant-initiated transaction, you must:
  • Get your customer's authorisation, in advance, to obtain the payment. This authorisation must be specific to how the amount will be determined (for example, is it set or variable) and when and how often the payment will be taken (for example, at a regular interval, or on the happening of an event).
  • Provide the customer with a copy of terms and conditions for any subscription and obtain the customer's agreement to them. Those terms and conditions which must include confirmation that the customer agreed to a subscription, the start and end date of the subscription, details of the goods or services, the ongoing transaction amount and billing frequency, whether any of these things will change after a set time or trial period.
  • Provide the customer with a warning in advance of, and a transaction receipt after, every time you initiate a merchant-initiated transaction. This must state the transaction amount and date, for the initial transaction and for subsequent recurring transactions. You must do this even if no amount is due to be paid (for example, due to a promotion or trial period).
  • Provide the customer with a simple mechanism to easily cancel any subsequent transactions online, regardless of how they initially signed up the subscription.
  • You must keep a record of the basis on which you determined any submitted Charge was eligible to be submitted as a merchant-initiated transaction and make such records available to us, our regulators and/or our auditors immediately on request.
10.10. Payment cards
When accepting payment card payments, you must comply with all applicable rules of the card scheme. You’ll need to comply with any applicable Visa and Mastercard rules applicable to your business and jurisdiction. Any breach of these rules will be considered a breach of this Agreement.Card schemes may change their rules at any time, without notice. We will notify you when we become aware of any changes, and you will need to comply with them straight away. Depending on the change, we may need to change the Services (at any time) to implement it.
When you accept payment card payments, we need to share a range of information with card schemes about the transactions we process for you using their cards, and if you do certain things you will need to automatically report those things to the schemes. This could include us submitting you to the Member Alert to Control High-Risk Merchants (MATCH) Compliance Programme, Visa Merchant Alert System (VMAS). If you are added to one of these lists, you may be unable to accept payments from payment cards. You understand and consent to our sharing this information and to the listing itself, and you will fully reimburse us for any losses we incur from third-party claims, and you waive your rights to bring any direct claims against us that result from such reporting. Our reporting of information under this paragraph is separate from any other right that we may exercise under this Agreement, and we may separately terminate this Agreement, suspend your Merchant Account due to the misuse or damaging activity that caused us to make the report.
If you engage a third-party processor to create and deliver a payment card transaction directly to the payment card network, then you may be able to specify that the transaction will be cleared and settled by Moneliq via our Services. If you intend to make use of this service, you first must let us know first. If you engage a third party to deliver this service, and you are permitted to designate Moneliq in this manner, then you take the risk of the third party properly delivering the transaction to the payment card network. You understand and agree that Moneliq will only clear and settle to you funds for Transactions that are received by the payment card network. You further assume responsibility for any failure by such third party to comply with the applicable Network Rules.
10.11. You must comply with the Payment Card Industry Data Security Standards ("PCI-DSS") and, if applicable to your business, the Payment Application Data Security Standards (collectively, the "PCI Standards"). The PCI Standards include requirements to maintain materials or records that contain payment card or Transaction data in a safe and secure manner with access limited to authorised personnel.The specific steps you will need to take to comply with the PCI Standards will depend on your implementation of the Services.
You will promptly provide us, or any applicable Payment Method Provider or Payment Method Acquirer, with documentation demonstrating your compliance with the PCI Standards upon our request. If you are unable to provide documentation sufficient to satisfy us, the Payment Method Providers, or the applicable Payment Method Acquirers, that you are compliant with the PCI Standards, then Moneliq, and any applicable Payment Method Provider or Payment Method Acquirer, may access your business premises on reasonable notice to verify your compliance with the PCI Standards.If you elect to store or hold "Account Data", as defined by the PCI Standards (including Customer card account number or expiration date), you must maintain a system that is compliant with the PCI Standards.
If you do not comply with the PCI Standards, or if we or any Payment Method Provider or Payment Method Acquirer are unable to verify your compliance with the PCI Standards, we may suspend your Merchant Account or terminate this Agreement. If you intend to use a third-party service provider to store or transmit Account Data, you must not share any data with the service provider until you verify that the third party holds sufficient certifications under the PCI Standards and notify us of your intention to share Account Data with the service provider. Further, you agree to never store or hold any "Sensitive Authentication Data", as defined by the PCI Standards (including CVC or CVV2), at any time. You can find information about the PCI Standards on the PCI Council's website.
10.12. If you are a Business customer, you can end this Agreement at any point by giving us one month's notice, but you’ll need to settle any amounts you owe to us because of your use of the Services.We can end this Agreement at any time by giving you two months' notice. We can also end it at any time without giving you notice, if:
  • you have materially breached this Agreement and not fixed that breach within seven days of us asking you to
  • we reasonably consider you are unlikely to continue to comply with this Agreement
  • you have breached any applicable laws
  • you do anything that may create harm or loss to the goodwill of us or an external partner we use to deliver the Services
  • we decide that you are no longer eligible for the Services because of significant fraud, anti-money laundering or credit risk, or any other risks
  • in our opinion you are or are likely to become insolvent or subject to any insolvency proceedings (whether voluntary or involuntary)
  • you do anything which, in our reasonable opinion, are detrimental to our brand, image, reputation or prospects
  • you are listed on any relevant sanctions list; or
  • your chargeback ratio exceeds our requirements.
If you or we end this Agreement:
  • You agree to complete or refund all pending Transactions, stop accepting new Transactions, and immediately remove all Moneliq and payment network logos from your website (unless permitted under a separate licence with the payment network).
  • All licences granted to you by us under this Agreement will end.
  • You will still be liable to us for any financial obligations under this Agreement or incurred by you or through your use of the Services.
10.13. Our set off rights
You agree to pay all amounts owed to us and to our affiliates on demand. This includes amounts owed to us outside of these Services. If you don't, you will be liable for any costs we incur during collection in addition to the amount you owe.
Where possible, we will first attempt to collect or set-off amounts owed to us and to our affiliates from balances from your use of the Services, from funds that we hold in Reserve, from other accounts you hold from us, or from any payment method associated with your Moneliq accounts. Our collection costs may include, legal fees and expenses, costs of any arbitration or court proceeding, collection agency fees, any applicable interest, and any other related cost.
At any time during the term of this Agreement and your use of the Services, we may require you or your directors, parent company or other nominated third party to provide a personal or company guarantee (a "Guarantee"). If we require you to provide us with a Guarantee, we will advise you of the amount of, and the reasons for the Guarantee. If you fail to provide such Guarantee, then we may immediately suspend or terminate your Merchant Account.

11. Our fees

11.1. You must pay the fees in connection with the use of our Services. We will not process your transaction until we have received the fees from you.
11.2. We will let you know the exact amount payable by you when you set up your order. You can see our fee structure on the “Pricing” page. For clarity, the fees applicable to you as set out on the “Pricing” page forms part of this Agreement which may be subject to change.
11.3. You agree that we are authorised to deduct our fees, any applicable reversal amounts, and/or any amounts you owe us from your Moneliq Account. If you don’t have enough money in your Moneliq Account to cover these amounts, we may refuse to execute the relevant transaction or provide any Services to you.

12. Intellectual property rights

12.1. While you are using our Services, you may use the Moneliq Materials only for your personal use and solely as necessary in relation to those Services.
12.2. "Moneliq Materials" include any software (including without limitation the App, the API, developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed and provided by us or our affiliates to you, or available for download from our Website. You may not, and may not attempt to, directly or indirectly:
  • transfer, sublicense, loan, sell, assign, lease, rent, distribute, or grant rights in the Service or the Moneliq Materials to any person or entity
  • remove, obscure, or alter any notice of any of our trademarks, or other "intellectual property" appearing on or contained within the Services or on any Moneliq Materials
  • modify, copy, tamper with or otherwise create derivative works of any software included in the Moneliq Materials; or
  • reverse engineer, disassemble, or decompile the Moneliq Materials or the Services or apply any other process or procedure to derive the source code of any software included in the Moneliq Materials or as part of the Services.

13. Our responsibility for loss or damage

13.1. We are responsible to you for foreseeable loss and damage caused by us. If we do not reasonably meet our commitments to you, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill. We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during your account sign up process.
13.2. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents, or subcontractors, for fraud or fraudulent misrepresentation.
13.3. We are not liable for business losses. If you use our Services for any commercial or business purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
13.4. We are not liable for technological attacks. We will not be liable for any loss or damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programs, data or other proprietary material related to your use of our Services.
13.5. We have no control over websites linked to and from our Website. We assume no responsibility for their content or any loss or damage that may arise from your use of them.
13.6. Our liability to you for unauthorised payments or our mistake. In case of an unauthorised payment or mistake due to our error, we shall at your request immediately refund the payment amount including all fees deducted by us. This shall not apply:
  • where your Moneliq Account, or its personalised security features, are lost, stolen, or misappropriated, if we believe you should have been aware of the loss, theft, or unauthorised use
  • if you have acted fraudulently, in which case we will not refund you in any circumstances
  • if you do not quickly notify us of security issues on your Moneliq Account (e.g., loss of your password), you remain liable for losses incurred up to your notification to us
  • if the payment transaction was unauthorised but you have with intent or gross negligence compromised the security of your Moneliq Account or failed to comply with your obligations to use your Moneliq Account in the manner set out in this Agreement. In such a case you shall be solely liable for all losses
13.7. We are not liable for things which are outside of our control. We (and our affiliates) cannot be liable for our inability to deliver or delay because of things which are outside our control.
13.8. You are liable for breaking this Agreement or applicable laws. In the event of loss, claims, costs, or expenses (including reasonable legal fees) arising out of your breach of this Agreement, any applicable law or regulation and/or your, or any authorised third parties’, use of our Services, you agree to defend, compensate us and our affiliates and hold us harmless. This provision will continue after our relationship ends.
13.9. What happens if you owe us money? In the event you are liable for any amounts owed to us, we may immediately remove such amounts from your Moneliq Account (if available). If there are insufficient funds in your Moneliq Account to cover your liability, we reserve the right to collect your debt to us by using any payments received in your Moneliq Account and otherwise you agree to reimburse us through other means. We may also recover amounts you owe us through other collection avenues, including, without limitation, using a debt collection agency. We may recover all reasonable costs or expenses (including reasonable attorneys' fees and expenses) incurred in connection with the enforcement of this Agreement.

14. Accessing our services

We will try to make sure our Services are available to you when you need them. However, we do not guarantee that our Services will always be available or be uninterrupted. We may suspend, withdraw, discontinue, or change all or any part of our Service without notice. We will not be liable to you if for any reason our Services are unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to our Services. If you have granted permission to a third party to access your account, we may refuse access to that third party if we are concerned about unauthorised or fraudulent access by that third party. We will give you notice if we do this, either before or immediately after we refuse access, unless notifying you would be unlawful or compromise our reasonable security measures.

15. Information security

15.1. You are responsible for configuring your information technology, computer programs and platform in order to access our Services. You should use your own virus protection software. We cannot guarantee that our Services will be free from bugs or viruses.
15.2. You must not misuse our Services. You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other materials which are malicious or technologically harmful. You must not attempt to gain unauthorised access to our Website, our servers, computers, or databases. You must not attack our Website with any type of denial-of-service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities, and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our Website and/or our Services will cease immediately.

16. When we can end this Agreement or suspend our Services

16.1. We may end this Agreement by giving you two months’ notice. We may end this Agreement and close your Moneliq Account, or any service associated with it by giving you two months’ prior notice.
16.2. We may suspend or close your Moneliq Account without notice in certain circumstances. We may at any time suspend or close your Moneliq Account and/or end this Agreement without notice if:
  • you breach any provision of this Agreement or documents referred to in this Agreement
  • we are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency
  • we have reason to believe you are in breach of any applicable law or regulation; or
  • we have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal or illegal activity.
16.3. We may suspend your Moneliq Account for security reasons. We may suspend your Moneliq Account or restrict its functionality if we have reasonable concerns about:
  • the security of your Moneliq Account; or
  • suspected unauthorised or fraudulent use of your Moneliq Account.
16.4. We will give you notice of suspension where possible. We will give you notice of any suspension or restriction and the reasons for such suspension or restriction as soon as we can, either before the suspension or restriction is put in place, or immediately after, unless notifying you would be unlawful or compromise our reasonable security measures. 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.
16.5. You cannot use the App if this Agreement ends. On termination for any reason all rights granted to you in connection with the App shall cease, you must immediately delete or remove the App from your devices.

17. How we may contact you

17.1. We usually contact you via email. For this purpose, you must always maintain at least one valid email address in your Moneliq Account profile. You should check for incoming messages regularly and frequently; these emails may contain links to further communication on our Website. If you don’t maintain or check your email and other methods of communications, you will miss emails about your transactions and our Services. We cannot be liable for any consequence or loss if you don’t do this. If we have reasonable concerns either about the security of your Moneliq Account, or any suspected or actual fraudulent use of your Moneliq Account, we will contact you via telephone, email, or both (unless contacting you would be unlawful or compromise our reasonable security measures).
17.2. In addition to communicating via email, we may contact you via letter or telephone where appropriate.

18. Complaints

If you have any complaints about us or our Services, you may contact us by email.Once we have received your complaint we will acknowledge this via email indicated by you. We will then investigate all the details of your complaint, and issue our response within a couple of days, but this can take up to 15 business days. If you are not happy with our resolution you can refer your complaint to the Financial Ombudsman Service

19. Other important terms

19.1. Nobody else has any rights under this Agreement. This Agreement is between you and us. No other person shall have any rights to enforce any of its terms. Neither of us will need to get the agreement of any other person to end or make any changes to this Agreement.
19.2. If a court finds part of this Agreement illegal, the rest will continue in force. Each of the paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
19.3. Even if we delay in enforcing this Agreement, we can still enforce it later. If we delay in asking you to do certain things or in taking action, it will not prevent us taking steps against you later.
19.4. This Agreement supersedes any other previous agreements.
19.5. This Agreement is governed by English law. Any dispute between you and us in connection with your Moneliq Account and/or this Agreement may be brought in the courts of England and Wales.

20. Moneliq Card Supplement to the Customer Agreement

Your Card is linked to and supported by your Moneliq Account. You can upload money by adding money to your Moneliq Account.Full information regarding this Service will be available after its launch. Please follow the changes and notification on our Website