Terms and Conditions
Last updated: 26 January 2018 (version 2)
IMPORTANT INFORMATION: These are the terms and conditions of the agreement between us, Trezeo Limited (“Trezeo”, “we”, “us”, “our”) and you, the person entering into the agreement in relation to the services provided at www.trezeo.com and via Trezeo’s mobile app (“the Service”). Please read these Terms and Conditions carefully before activating your Trezeo Account. These Terms and Conditions shall apply to all Customers.
Trezeo Limited is a registered limited company incorporated in Ireland, with company registration number 586176, registered address at Digital Exchange, Crane Street, Dublin 8, D08 HKR9, Ireland and UK establishment address at International House, 24 Holborn Viaduct, CITY OF LONDON, London, EC1A 2BN.
We’ll try to keep everything in this document as straightforward as possible, but if there’s anything you don’t understand, please get in touch with us by:
- Contacting us via your Trezeo App;
- By email to firstname.lastname@example.org;
- you can write to us at International House, 24 Holborn Viaduct, City of London, London, EC1A 2BN.
Our Agreement with you
These terms should be read together with the Trezeo Account Terms as defined below, and along with our Privacy Notice form our legally binding agreement with you in relation to the Service (“the Agreement”). The Agreement sets out all the conditions on which we will provide our Service to you ("you" or "your"). To become a customer (“Customer”) you must accept these terms as part of the registration process. This Agreement is provided to you and concluded in English and should be read carefully.
We may use third parties to provide the Service to you as explained in these terms and our Privacy Notice.
If you are reading this Agreement for the first time we suggest you print or save a copy.
By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement. Trezeo also requires you to have a Trezeo Account to use the Services outlined below.
This Agreement contains fifteen sections. You may jump directly to any section by selecting the appropriate link below. The headings and subheadings below are for reference only and do not limit the scope of each section.
- Our relationship with you
- The Income smoothing service
- Trezeo account service
- Access to the Trezeo App
- Trezeo App security
- Changes to the App and App terms
- Term and Termination
- What you are not allowed to do
- Intellectual property rights
- Content and liability
- Contacting us
Our relationship with you
Under our relationship with you, Trezeo may provide you with some or all of the following services:
- “Trezeo account service”: we will introduce you to and help you access an e-Wallet payment account (the "Trezeo Account") operated by a third party (the "Account Provider"). The Account Provider will be an electronic money institution that is authorised and regulated in the UK by the Financial Conduct Authority. Any value you store in your Trezeo Account will comprise electronic money issued by the Account Provider. Your rights and obligations arising in relation to the Trezeo Account will be governed by the Account Provider’s terms (Trezeo Account Terms) that we will present to you on their behalf and that you agree to when you open your Trezeo Account. We act a Technical Service Provider for the Account Provider enabling you to access and use your Trezeo Account. The terms of our relationship with you for this service are set out in clause 3.
"Income smoothing service": we will provide you with access to the Trezeo App which is an application that will give you access via your mobile device:
- Manage your Trezeo Account; and
- View and Authorise Transactions on your Trezeo Account.
- Please see clause 2 for more information on the Income Smoothing Service.
The Income smoothing service
Through the Trezeo App we will provide you with access to:
- manage your Trezeo account, including your income and savings balances;
- receive income from your customers and manage the amount of income attributed to your income and savings balances;
- establish a mandate to make a regular payment into your bank account. This mandate shall not exceed the average income paid into your Trezeo Account attributable to your income balance;
- make payments from your income or savings balance to your bank account or transfer funds between your balances.
- various financial planning and management tools designed to help you manage and monitor your income, outgoings and savings; and
- any other services or tools that we may present you with from time to time.
- We make no representations or warranties that the Income Smoothing Service is fit for any particular purpose or that it will achieve any particular outcome.
- We can access financial information and associated data arising under or relating to your use of the Trezeo Account for any purpose relating to our provision of the Income Smoothing Service and / or the Trezeo Account Service.
- We reserve the right to suspend or adjust your mandate if we, in our reasonable discretion, detect a change to your average income.
- The Income smoothing service is provided by Trezeo.
- We use a tool provided by TrueLayer Limited (www.truelayer.com) (“TrueLayer”) that allows you to send information on your payment accounts to us and other service providers.
Account Information Provider
- We use account information providers, currently TrueLayer to enable us provide our services by securely accessing your bank account data.
- In order to use our services, you will be asked to open an account with TrueLayer and agree to their Terms of Service. The Terms of Service set out the terms on which you agree to TrueLayer accessing information on your payment accounts for the purposes of transmitting that information to us.
- TrueLayer is authorised by the UK Financial Conduct Authority under the Payment Services Regulations 2017 to provide account information services and payment initiation services (Firm Reference Number: 793171).
Trezeo account service
We select the Account Provider to provide the Trezeo Account to you and we may change this selection from time to time. You agree that:
- we may terminate the appointment of the then current provider of the Trezeo Account as our partner and require them to terminate their relationship with you in accordance with the relevant notice period; and
- with a view to ensuring the continuity of the Trezeo Account, we may either introduce you to an alternative provider of the Trezeo Account, or provide the Trezeo Account ourselves where we have the necessary regulatory licences to do so. Where we introduce you to an alternative provider, you consent to us making use of your data, including providing it to the selected third party, as necessary to introduce the new service and facilitate the smooth transfer of your Trezeo Account and enable the alternative provider to contact you for this purpose which you agree to.
The Account Provider that we have currently selected to provide the Trezeo Account to you is PayrNet Ltd ("PayrNet"). PayrNet is a company registered in England (company number 09883437) whose registered office is at Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX. PayrNet is an authorised electronic money institution and is authorised and regulated by the Financial Conduct Authority (firm registration number 900594).
In opening your Trezeo Account with the Account Provider you will need to agree to Trezeo Account Terms between the Account Provider and you (the "Trezeo Account Terms").
The Account Provider in accordance with and as set out in the Trezeo Account Terms, is the person responsible for:
issuing electronic money to you;
operating your Trezeo Account;
executing your payment transactions to place, transmit or withdraw funds in respect of your Trezeo Account; and
- meeting claims by third parties on your electronic money where they are valid and in accordance with the Trezeo Account Terms.
On behalf of the Account Provider and as their technical service provider, we:
receive your instructions to the Account Provider to initiate payment orders for the placing, transmission or withdrawing of funds in respect of your Trezeo Account;
enable access to your Trezeo Account through the TrezeoApp; and
- address requests, questions, notifications of security concerns and complaints you may have about your Trezeo Account.
The Account Provider and not Treeo is responsible to you for the operation of your Trezeo Account and any payment transactions executed through it. You should make any claim for loss arising from the operation of the Trezeo Account or the execution of payment transactions under the terms of the Trezeo Account with the Account Provider and we do not accept liability to you for these functions.
We accept a duty of care to you to:
- select an appropriately regulated Account Provider; and
- monitor that the selected Account Provider continues to maintain appropriate payment services and e-money licences, provided in each case we will only be liable to you to the extent that your loss is directly attributable a breach of our duties under this clause.
- You may raise complaints regarding your Trezeo Account with us which will be handled in accordance with complaints procedures agreed between us and the Account Provider and settled in accordance with the Trezeo Account Terms.
The App is only available to customers who:
- are 18 years’ of age or over and resident in the UK; and
- have your own bank account through which to access funds; and
- you pass necessary qualifying “Know Your Customer” (KYC) checks to verify both your identity and your address before an account is created in your name.
A customer meeting all the conditions set out in clause 5.1 is an "eligible customer".
By accepting these Terms you confirm that you are an eligible customer. You must notify us immediately if this is no longer the case.
Unless waived or reduced by us, a subscription fee of 1% of any income you receive into your Trezeo Account will be payable to us upon receipt of the income into your Trezeo Account. This subscription fee will be deducted directly from income deposited into your Trezeo Account.
Access to the Trezeo App
- Not all devices you choose to access the Trezeo App will support the Trezeo App and so you must make sure that you use an appropriate device to access and use it.
- It is your responsibility to ensure any device you choose to access the Trezeo App meets all the necessary technical specifications to enable you to access the Trezeo App and that it is compatible with the Trezeo App. You are liable for any fees and costs that you incur in using your device in connection with the App, including for network usage and the fees of your relevant service provider.
- We cannot guarantee the continuous, uninterrupted or error-free operability of the Trezeo App. There may be times when certain features, parts or content of the Trezeo App become unavailable (whether on a scheduled or unscheduled basis) or are modified, suspended or withdrawn by us, in our sole discretion, without notice to you. Without limitation it is possible that any of these events could occur due to a lack of availability or operability for whatever reason of the Trezeo Account for which we have no responsibility or liability. You agree that any responsibility that we or the Account Provider have in respect of the operation of the Trezeo Account will be governed by the Trezeo Account Terms. You further agree that we will not be liable to you or to any third party for any unavailability, modification, suspension or withdrawal of the Trezeo App, or any features, parts or content of the Treze App.
Trezeo App security
We require you to use personalised security details to access and use the App, such as a username, password, passcodes and PINs. You must take all reasonable steps to keep these security details secure.
The Trezeo Account Terms set out specific provisions regarding your responsibility for security details relating to your use of the Trezeo Account. You must notify us as soon as possible by using our contact details published in the Trezeo App and on the Trezeo website if you suspect that any of the following has occurred (each being a "Security Breach"):
someone else knows or has access to your personalised security details;
your other personalised security details are lost or stolen; or
a device on which personalised security details are embedded, retained or pre-configured is lost, stolen, misappropriated or used without your authorisation.
If you fail to notify us or the Account Provider of a Security Breach without undue delay, you may be liable for part of or all losses incurred in respect of an unauthorised payment transaction via your Trezeo Account arising from the Security Breach. Please refer to the Trezeo Account Terms for full details.
You agree that we may store on our database:
- information you give us including personal details provided through the registration process or through other communications between you and us and data arising during your use of the Trezeo App and your Trezeo Account ("Personal Information"); and
- information consisting of Profile Data (being data from which you cannot be identified personally including information provided to us by you, information obtained through surveys, questionnaires, profile sheets, preferences, and other communications with you, and data arising from your online conduct and use of the Trezeo App and may include personal details on you where your identity cannot be revealed from the data and the data cannot be linked to you).
The provisions of this clause 8 are subject to the more detailed provisions of our Privacy Notice, which is provided to you along with these terms. You consent to us using your Personal Information for the following purposes:
to meet our obligations, where applicable, to check and confirm your identity and record identifying information about you or to consult with other sources to obtain information about you, to assist in the fight against money laundering activities, fraud and the funding of terrorism; and
- to provide you with the Trezeo Account and Income Smoothing Service.
You further consent to us providing anonymised and aggregated Profile Data to other relevant parties.
We may provide information about you and your use of our Trezeo App to law enforcement or government agencies in response to a verified request to comply with any legal process or as required by law or to prevent and detect fraud or to protect and defend our rights and those of our other customers.
- We are committed to protecting you and any data (anonymous or otherwise) that we collect about you online. By using our Trezeo App (through any device) you agree that we may place cookies on your device(s) in accordance with the terms and conditions of the Privacy Notice, which can be accessed on our website.
- We reserve the right to make changes to our Privacy Notice. Any such changes shall appear here and become effective immediately. Your continued use of the Trezeo App is taken as meaning that you agree to any such changes.
Changes to the App and App terms
- These Terms may be amended by us from time to time by giving at least one months’ notice of such changes by sending you an email to your registered email address containing a link to the revised Terms and the proposed date of entry into force. We will take your continued use of the Trezeo App after this point to constitute acceptance of the revised Terms. If you do not agree to these Terms you should not continue to use the Trezeo App after this point.
- If you do not wish to accept the changes to the Terms, you must notify us of this before the proposed date of entry into force. You have the right to terminate this contract immediately and without charge before this date.
Term and Termination
- cease to become an eligible customer as defined in clause 5.2;
- engage in any fraudulent activity in respect of the services provided or your Trezeo Account; or
- breach any of the provisions of the Trezeo Terms or Trezeo Account terms,
we may: (i) suspend or terminate the Trezeo Account Service on five calendar days’ notice in writing to your registered email address; and (ii) procure that the Account Provider suspends or terminates, as applicable, the Trezeo Account Terms in accordance with the relevant provisions of the Trezeo Account Terms.
- If we do not exercise our termination or suspension rights under clause 12.1, this should not be deemed to be a waiver by us to exercise our rights under that clause at a later date.
- You may terminate your contract with us at any time by giving us one month’s notification in writing to email@example.com.
- Should your contract be terminated, it is your responsibility to provide all parties who pay funds to your Trezeo Account with new instructions regarding the transfer of funds.
- Notwithstanding the other provisions of clause 12, we may terminate our contract with you by giving you one months’ notice in writing to your registered email address.
What you are not allowed to do
Except to the extent expressly set out elsewhere in these Terms, you are not allowed to:
- republish, redistribute or re-transmit the Trezeo App;
- 12.1.2. copy or store the Trezeo App other than for your use in accordance with the rest of the Trezeo Terms and as may occur incidentally in the normal course of use of your browser or mobile device;
- 12.1.3. store the Trezeo App on a server or other storage device connected to a network or create a database by systematically downloading and storing any data that is not personal to you from the Trezeo App;
- 12.1.4. remove or change any content of the Trezeo App or attempt to circumvent security or interfere with the proper working of the Trezeo App or any servers on which it is hosted;
- 12.1.5. create links to the Trezeo App from any other website, without our prior written consent; or
- 12.1.6. otherwise do anything that it is not expressly permitted by the Trezeo Terms.
- You must only use the Trezeo App for lawful purposes (complying with all applicable laws and regulations), in a responsible manner, and not in a way that might damage our name or reputation or that of any of our affiliates.
- All rights granted to you under the Trezeo Terms will terminate immediately in the event that you are in breach of any of them.
Intellectual property rights
All intellectual property rights in the Trezeo App (including text, graphics, software, photographs and other images, videos, sound, trademarks and logos) are owned by us or our licensors. Except as expressly set out here, nothing in these terms gives you any rights in respect of any intellectual property owned by us or our licensors and you acknowledge that you do not acquire any ownership rights by downloading or using the Trezeo App.
Content and liability
- We may change the format and content of the Trezeo App from time to time. You agree that your accessing or use of the Trezeo App is on an "as is" and "as available" basis and at your sole risk.
- Whilst we try to make sure that all information contained in the Trezeo App (other than any user-generated content) is correct, it is not intended to amount to authority or advice on which reliance should be placed. You should check with us or the relevant information source before acting on any such information.
- We make or give no representation or warranty as to the accuracy, completeness, currency, correctness, reliability, integrity, quality, fitness for purpose or originality of any content of the Trezeo App and, to the fullest extent permitted by law, all implied warranties, conditions or other terms of any kind are hereby excluded.
- We cannot and do not guarantee that the Trezeo App will be free from viruses and/or other code that may have contaminating or destructive elements.
- Nothing in the Trezeo Terms shall limit or exclude our liability to you for death or personal injury caused by our negligence or for fraudulent misrepresentation or any other liability that may not, under applicable law, be limited or excluded.
- The Trezeo Terms shall be governed by and construed in accordance with the laws of England and Wales. Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).
Please submit any questions you have about these Terms or any problems concerning the Trezeo App or your Trezeo Account by using details published in the contact section of the Trezeo website at https://www.trezeo.com or via your Trezeo App.