Welcome to Fundz!

This user agreement is effective as of May 21, 2023.

This user agreement serves as a contract between you and Spectr LTD, governing the usage of your Fundz account and the services provided by Fundz. To use the Fundz services, you must be located in the UK and possess a UK bank account. By agreeing to this user agreement, you commit to complying with all the terms and conditions stated herein. These terms include an agreement to resolve disputes through individual arbitration.

We reserve the right to periodically revise this user agreement and any associated policies. The updated version will become effective upon posting, unless specified otherwise. In the event that our changes result in reduced rights or increased responsibilities for you, we will provide at least 21 days' notice. However, we retain the right to amend this agreement at any time without prior notice, as permitted by applicable law. By continuing to use our services after the revised user agreement takes effect, you acknowledge and accept the updated terms. If you disagree with any modifications made to this user agreement, you may choose to close your account.

Opening a Fundz Account

Fundz offers two types of accounts: personal accounts and approved business accounts. Each user is limited to one personal account. To create a personal account, you must be a UK resident or reside in one of its territories, be at least 18 years old, and possess a cellular/wireless telephone number registered in your name.

We may also provide the option to set up a business profile on your personal Fundz account, allowing you to receive payments for goods and services. However, the availability of this feature is subject to our sole discretion and may not be accessible to all users.

Personal accounts, with the exception of authorized merchant transactions and business profiles, are not permitted for business, commercial, or merchant transactions with other personal accounts. This includes making or accepting payments from personal accounts of users whom you do not personally know, for goods or services such as concert tickets, electronics, sneakers, watches, flat deposits, or dog walking. If you intend to utilize your Fundz account for receiving payments related to goods or services, you must ensure that the buyer verifies their payment as being intended for such purposes or possesses a business profile.

It is crucial to maintain the confidentiality of the credentials used to access your Fundz account and Fundz services. Furthermore, you are responsible for keeping your phone number, email address, and other contact information up to date in your Fundz account profile.

Closing Your Fundz Account

You have the option to close your account and terminate your association with us without incurring any charges. However, please note that you will remain responsible for all obligations related to your Fundz account, even after its closure. Before closing your account, you must finalize or cancel any incomplete transactions or transfers and transfer any funds from your personal, business, or charity profiles within your Fundz account.

There are certain circumstances under which you may be unable to close your Fundz account:

To avoid an ongoing investigation.

If you have pending transactions, open disputes, or claims.

If you have outstanding amounts owed to us.

If your Fundz account is subjected to a hold, limitation, or reserve.

If you possess a Fundz Credit Card, until the account is closed and fully paid.

If your Fundz account is closed for any reason, any associated business or charity profiles and Fundz Debit Card will be cancelled.

Linking or Unlinking a Payment Method

You have the ability to link or unlink specific payment methods, such as debit cards, credit cards, or UK bank accounts, to your Fundz account. It is essential to ensure that your payment method information, such as credit card number. By linking a payment method to your Fundz account, you authorize us to store and use the information provided to facilitate payments and other transactions.

You may link multiple payment methods to your Fundz account, but you are responsible for ensuring that each linked payment method is valid and authorized for use. We reserve the right to limit the number of payment methods you can link to your account and may impose additional restrictions or requirements based on your account activity or risk profile.

If you wish to unlink a payment method from your Fundz account, you can do so through the account settings or by contacting our customer support. Please note that unlinking a payment method may affect your ability to make payments or receive funds through that particular method.

Using Fundz Services

Fundz provides various services, including the ability to send and receive payments, make purchases, and access other financial features. When using Fundz services, you agree to comply with all applicable laws and regulations, including those related to financial transactions, anti-money laundering, and fraud prevention.

You are responsible for ensuring that the information you provide for transactions, such as recipient details and payment amounts, is accurate and complete. Fundz will not be liable for any losses or damages resulting from incorrect or fraudulent transaction information provided by you.

Fundz may offer additional features or services that are subject to separate terms and conditions. By using these additional features or services, you agree to abide by the specific terms and conditions associated with them.

Fees and Charges

Fundz may charge a 3% service fee for certain services, such as receiving payments or making currency conversions. The applicable fees and charges will be clearly disclosed to you before you proceed with a transaction or use a specific service. It is your responsibility to review and understand the fees associated with the services you use.

You authorize Fundz to deduct any applicable fees and charges directly from your Fundz account balance or linked payment methods. If there are insufficient funds in your account to cover the fees, we may attempt to deduct the fees from your linked payment methods. In case of non-payment or insufficient funds, Fundz reserves the right to take appropriate action, including limiting account access or pursuing legal remedies to recover the outstanding fees.

Fundz may also charge fees for certain account activities, such as currency conversions, reversals, or account maintenance. These fees will be clearly communicated to you in advance.

Privacy and Data Protection

Fundz is committed to protecting your privacy and maintaining the security of your personal information. We collect and process your personal data in accordance with applicable data protection laws and our Privacy Policy. By using Fundz services, you consent to the collection, use, and processing of your personal data as described in our Privacy Policy.

We may use your personal information to verify your identity, conduct risk assessments, prevent fraud and illegal activities, provide customer support, and improve our services. We may also share your information with third parties as necessary to fulfill our contractual obligations, comply with legal requirements, or protect our rights and interests.

Dispute Resolution

In the event of a dispute or claim arising from your use of Fundz services, you agree to first attempt to resolve the matter through direct communication with Fundz customer support. If the dispute remains unresolved, you and Fundz agree to resolve it through individual arbitration, rather than through a court proceeding or class action lawsuit. More information about the dispute resolution process can be found in the Dispute Resolution section of our user agreement.

Termination

Fundz reserves the right to terminate or suspend your account at any time and for any reason, including but not limited to violation of the user agreement, suspected fraud or illegal activities, or requests from law enforcement or regulatory authorities. If your account is terminated, you will be notified, and any remaining account balance will be returned to you, minus any applicable fees or charges.

You may also choose to close your Fundz account at any time. To do so, you can follow the account closure process provided in the Fundz platform or contact customer support for assistance.

Changes to the User Agreement

Fundz may update or modify the user agreement from time to time. We will notify you of any material changes through the email address associated with your account or through the Fundz platform. It is your responsibility to review and understand the updated user agreement. If you continue to use Fundz services after the effective date of the updated agreement, it will constitute your acceptance of the modified terms.

Final Words

Thank you for choosing Fundz. By using our services, you acknowledge that you have read, understood, and agreed to the terms and conditions outlined in this user agreement. If you have any questions or need assistance, please don't hesitate to contact our customer support.