What these terms cover. These are the terms and conditions on which we provide payment service activities to you.
Why you should read them. Please read these terms carefully before you open a payment account with us. These terms tell you who we are, how we will provide services to you, how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these terms, please contact us to discuss.
Who we are. We are PayAlly Limited a company registered in England and Wales. Our company registration number is 10600055 and our registered office is at 80 Coleman street, London, UK, EC2R 5BJ. Our registered VAT number is 278253770.
We are an Authorised Payment Institution registered in the United Kingdom. Our firm reference number is 774327. We are permitted to provide payment services by the Financial Conduct Authority (“FCA”) in the United Kingdom.
FCA supervises PayAlly. You can learn more about PayAlly, how it is regulated, check the full record of any regulated activities, and any current sub-statuses, restrictions or suspensions here: https://register.fca.org.uk/s/firm?id=001b000003jKickAAC
PayAlly is a participant of SWIFT (PYYLGB2LXXX) and participant of SEPA.
How to contact us. You can contact us by telephoning our customer service team at +44 203 286 0201, +48 22 208 3272 or by writing to us at firstname.lastname@example.org, via Skype at <skype:live:service_16733?chat> or via our online portal.
You must notify us immediately of any circumstances which are relevant to this agreement, including change of name, address, contact details etc.
You must also notify us immediately of any loss or theft of your personal identification document or another means of identification or loss or theft of your account or login credentials on the Client Credentials or Payment Instrument or loss of possession thereof against the will of the Client in any other manner. You must notify us even if any of the above noted information has been or may be made public (e.g. judicial decision, notification to public registers or publishing through the mass media).
How we may contact you. If we have to contact you, we will do so by telephone, SMS or by writing to you at the email address, postal address you provided to us or via our online portal.
”Writing” includes emails and messages via our online portal. When we use the words “writing” or “written” in these terms, this includes emails and messages via our online portal.
Any notice or other communication given under this agreement will be deemed to have been received: if sent by first class post or other next working day delivery service, on the second working day after sending; or if sent via SMS, email or our online portal, at the time of transmission, or, if this time falls outside business hours in the place of receipt, when business hours resume. “Business hours” means 9.00am to 5.00pm Monday to Friday on a day that is not a public holiday in England and Wales.
Any communication we make with you, including this agreement is in English. You may also request a copy of these terms to be sent to you.
We provide services in the United Kingdom only. PayAlly is not authorised to advertise, promote or otherwise provide payment services outside the UK. Our website is solely for the promotion of our products in the UK.
We do not have any physical presence (for example, offices) or agents in any other state.
If you are based outside the UK, we provide you payment services strictly on the basis that:
PayAlly has been given permission to provide payment services by the FCA under the Payment Regulation Services 2017, which are:
A detailed list of payment services offered by us is available on PayAlly’s homepage at www.payally.co.uk.
We are unable to offer you banking services. Funds on client payment account is not a deposit and may be used only for execution of payment transactions.
Client payment accounts are not protected by Financial Services Compensation Scheme or other similar deposit guarantee instruments. Instead, client funds in transit are kept on safeguarding accounts with reputable credit institutions.
We may, from time to time offer you other products and services such as debit and prepaid cards, loans, investments, insurance, currency conversion, credit and savings products, which are provided by our partner third parties, duly licensed credit institutions, insurance companies, broker dealers, etc. To use those services, you may have to accept additional terms and conditions of our partner third parties which will be notified to you when ordering or using such product and services.
Minor changes to the services. We may change the services:
More significant changes to the products and these terms. In addition, we may make more significant changes to these terms or the services, but if we do so we will notify two month prior to the changes you and you may then contact us to end the contract before the changes take effect. If you do not, we will regard you as have accepted these changes.
Updates to digital content. We may update or update digital content at any time and without notice.
We will notify of any amendments of these terms in accordance with the section INFORMATION ABOUT US AND HOW TO CONTACT US.
We will continue providing you with payment services until either this agreement is terminated, or services are suspended for any reason set out in this agreement.
We are not responsible for delays outside our control. If our supply of payment services is delayed by an event outside our control then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event, but if there is a risk of substantial delay you may contact us to end the contract and receive a refund for any services you have paid for but not received.
We may also limit what payment services we provide to you and how much you can pay or receive. You, however, may request to change the limits by writing to us as noted above.
We are liable to you for the correct execution of the payment transaction unless we can prove to you or, if applicable, your payee’s payment institution that your payee’s payment institution has received the amount in accordance with the Payment Services Regulations 2017.
You may request us and we will immediately and without charge make efforts to trace any non-executed or defectively executed payment transaction and notify you of the outcome.
You may open only one payment account unless we confirm in writing otherwise. If we detect duplicate accounts, we may in our sole and absolute discretion suspend provision of our services, merge or close duplicate accounts or terminate this agreement.
By registering an account with us, you confirm that you are a resident of the UK. If you are not a resident of the UK, you confirm that laws and regulations of your country do not prohibit you from entering into an agreement with us.
You also confirm that you are the only beneficial owner. If you are not, you must tell us immediately. In such circumstances, you cannot open an account with us unless we confirm in writing otherwise.
We may terminate this agreement immediately and without notice if you are in breach of this section.
We will need certain information from you so that we can provide payment services to you. By providing such information, you confirm that all information you provide is complete, accurate and true.
The information we will require will depend on the nature of your business, where you are based, and any other requirements set out in the relevant legislation.
If we have any reason to doubt the completeness or accuracy of the information you have provided, may ask you to provide further information or documents and, if necessary, to re-do the identification process.
From time to time, we may request additional identification to verify your identity. You undertake to provide us will all information and documents required to verify your identity or any other information we may require.
You must inform us if any of the submitted information or any of the circumstances relevant to our provision of services to you changes. Such information includes change of your representative, your company’s beneficial owner of the Client, their personalities, residence/location address, nature of business, place of tax residence and taxpayer’s number.
If you use our portal and/or payment instrument, we will verify your identity when you provide your credentials (e.g. username and password; one time OTP/MAC token; APP).
We may request any information and documents related to your identification and verification from any credit or financial institution which has already identified you or has a business relationship with you.
We may also require from you additional documents authorising us to request and receive such information or documents from other institutions.
You can authorise other persons to use our services on your behalf and access any information we have that is related to you or your account. You are responsible for the authorised person(s) performance of this agreement.
If you have authorised a person(s) to act on your behalf, the person must register an account with us who will also be bound by this agreement.
We will charge you fees for the payment services we provide. Our fees are set out in our Tariffs page accessible when you log into our portal.
We may make any amendments to the Tariffs. If we do so, we will notify you. You will be able to terminate this agreement without any penalty before the changes take effect as noted in INFORMATION ABOUT US AND HOW TO CONTACT US.
You are required to keep enough money on your payment account for us to deduct any fees or any money you owe us. We debit any monthly fee once per month in advance for the upcoming fee period, which is 30 calendar days.
You may also be responsible for paying taxes or costs that apply to payments that we are not responsible for collecting from you. In such case, you must pay the taxes or costs without delay.
You cannot borrow money from us and if your balance becomes negative, you must immediately top up your account to remedy this.
If you owe us money and do not top up your account, we may without notice:
If we exercise any of the above rights, you may be required to pay our costs.
We may refuse to open an account, suspend or close it, or refuse to make a payment.
If we decide not to open an account, we will let you know.
We may also suspend or close your account or refuse a payment immediately if you break any of these terms or if:
We may suspend or close your account for any reason. We will notify you at least two months before we do so. If we close your account, your agreement with us is terminated.
You can always end your contract with us. Please contact us as required in the section INFORMATION ABOUT US AND HOW TO CONTACT US.
If there are any outstanding fees or if you owe us money for any reason, you will be required to pay this immediately.
If you have paid your fees and do not owe us any money, we will give you reasonable opportunity to transfer or withdraw your balance.
If you wish to close the account due to any other reason, please contact us as noted above. In those circumstances, your contract will end no later than one calendar month after the day on which you contacted us or earlier.
The following activities are restricted at all times:
The requests to provide services (operations) you give us must be unambiguous and executable. You must confirm all operations with your credentials or in any other way we may request (e.g. by signing a hard copy). Such confirmation shall be deemed as your consent to perform the requested operation.
You must ensure that your request is in accordance with the law, these terms and other relevant requirements or practices applicable to that request.
You may use the Open API as part of our services. You can activate it via our portal to access a personal API Key.
Anyone with access to credentials to the Open API through the Personal API Key is able to use our services. If you notice misuse, theft or unauthorised use of the Open API or any other activity that makes you suspicious, you must contact us immediately.
If we have concerns about security, unauthorised, and/or fraudulent use of Open API, we can stop or suspend your access to the Open API.
We will not bear any liability for any losses incurred because of any unauthorised access gained as a result of you not following with security guidelines, taking reasonable measures to preserve confidentiality of access to Personal API Key or storing the Personal API Key outside of our portal. Please see our website, and our portal for more information about the Open API and how it can be used.
You may use our services via third parties (e.g. e-wallets), Payment Initiation Service Providers (PISP) or Account Information Service Providers (AISP).
Third party providers must be authorised or licenced by a regulator to provide these services. It is your responsibility to check that they are authorised or licenced.
If you make any operation or use your payment account via any third party, these terms and conditions apply. If you use a third party provider, you consent and authorise the provider to access your account, account information or make payments on your behalf.
When using the one-time password (OTP) or message authentication code (MAC) token generator, you are required to::
In order to use the OTP/MAC token generator we must be able to securely communicate with you. We will let you know if there are any additional requirements. If you use OTP/MAC token generator, you are responsible for the security and means of communication with us (such as your computer, internet and telephone connection).
We can block your credentials or your OTP/MAC token generator at any time for security purposes such as when we have any reason to believe that the OTP/MAC token generator has been misused.
You must immediately notify us of a loss, theft or unauthorised use of the OTP/MAC token generator and/or your credentials. If you use your payment account or OTP/MAC token generator via a third party, you must follow the security guidelines applicable to that service or provider in addition to these terms.
If you have any complaints about personal data handling by use, please contact us at email@example.com. Alternatively, you may choose to file a complaint with Information Commissioner’s Office by calling +44 303 123 1113 or filing a report over internet https://ico.org.uk/concerns/.
Please contact if you have any issues or have a complaint. We will review the complaint and contact you within 15 business days if you are an individual and within 30 business days of are not.
If you are not happy with how we have resolved your complaint, you may choose to complain about us, our products, services or actions to the Financial Services Ombudsman by:
If your complaint relates to payment services, you can also complain to the Financial Conduct Authority.
We are responsible to you for foreseeable loss and damage caused by us. If we fail to comply with these terms, 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, but 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.
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; for breach of your legal rights in relation to our services.
We are not liable for business losses. If you use the products for any commercial, business or re-sale purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
If an unauthorised payment or mistake is made due to our error, we will at your request as soon as reasonably practicable refund the amount of the unauthorised payment transaction including all fees deducted by us and where applicable, restore the debited payment account to the state it would have been in had the unauthorised payment transaction not taken place.
This does not apply to the situations where:
It is your responsibility to regularly monitor your payment account and inform us of any unauthorised transactions, inconsistencies or concerns.
You may request a refund within eight weeks from the date on which the funds were debited for the full amount of any authorised payment transaction initiated by you if:
The right to a refund does not apply if you have given us consent directly for the payment transaction to be executed or if information on the payment transaction was provided or made available to the you for at least four weeks before the due date by us or by the payee.
We may transfer this agreement to someone else. We may transfer our rights and obligations under these terms to another organisation. We will contact you to let you know if we plan to do this. If you are unhappy with the transfer you may contact us to end the contract within one month of us telling you about it and we will refund you any payments you have made in advance for products not provided (subject to you now owing us any money).
You may not transfer your rights or your obligations under these terms to another person. This agreement is personal to you.
Nobody else has any rights under this contract (except someone you pass your guarantee on to). This contract is between you and us. No other person shall have any rights to enforce any of its terms.
If a court finds part of this contract illegal, the rest will continue in force. Each of the paragraphs of these terms 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.
Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you miss a payment and we do not chase you but we continue to provide the services, we can still require you to make the payment at a later date.
These terms are governed by English and Welsh law and you can bring legal proceedings in respect of the products in the English and Welsh courts. Alternative dispute resolution is not available under these terms.