1. Introduction to LemFi

1.1. When the word “LemFi” is used in these terms, this means Rightcard Payment Services Limited, being a private limited company in England and Wales (company number: 09163262) with its head office and registered address at The Jellicoe - 5 Beaconsfield St, London N1C 4EW. LemFi operates the website at https://www.lemfi.com/.

1.2 How you can contact LemFi:

You can call us at any time seven days a week. You can contact us via email or via the customer support function on the app at any time.

1.3. LemFi is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 900424) for the issuing of electronic money.

1.4. “You” and “your” in these terms means you, being the individual that wishes to use LemFi’s Global Account Services (“Global Account”) and agrees to comply with LemFi’s onboarding requirements and any amendments to these terms and conditions as amended from time to time.

Within these Terms:

references to "us" and "we" means RightCard Payments Services Ltd, trading as LemFi.
references to ‘Terms’ means this Customer Agreement and any applicable Terms and Conditions relevant to the Global Account.

1.5. How LemFi can contact you:

LemFi shall contact you using the methods set out below. It is your sole responsibility to keep your contact details up to date with LemFi. You can update your details by sending customer support a message via the app or by telephone or email.

2. Main characteristics of LemFi’s Global Account Service

2.1. LemFi’s services allow you to:
(a) upload money into your Euro or GBP Account;

(b) interact with Pagatech in relation to your NGN wallet;

(c) receive money from your family, friends, employer, or income as a freelance contractor, customer;

(d) exchange money in other currencies; such as GBP and Euro;

(e) send money, in various currencies, to wallets belonging to other persons (for example your friends and family);

(f) send money, in various currencies, to accounts which are not wallets (for example payment accounts belonging to your friends and family which live overseas);

(g) view the balance of your wallets on the LemFi app;

(h) see foreign exchange transactions that you have entered into with LemFi via the app;

(i) see payments that you have executed from your wallet(s) via the app;

(j) send and receive payments within United Kingdom using Faster Payment System;

k) send and receive payments using the European SEPA mechanism.

3. Information on these terms

We have drafted these terms in a question and answer format so that they are easy to read and understand. However, if you have any queries at all, please do not hesitate to get in touch with customer support.

Why should you read these terms? services LemFi can provide to you. They explain your responsibilities to LemFi and LemFi’s responsibilities to you, how and when these terms can be terminated and the extent of LemFi’s liability to you.

How do you accept these terms? You can accept these terms by ticking or clicking on the relevant terms & conditions icon box when you register with LemFi, or by otherwise agreeing to these terms on the app.

When do these terms come into force and when do they end? These terms come into force when you have accepted them and we have onboarded you as our client, or as otherwise advised, and shall remain in force until terminated.

How can these terms be terminated? You can terminate these terms immediately at any time by contacting LemFi’s support team using one of the methods set out in section 1.2. We can terminate these terms at any time by providing you with 2 months’ notice using one of the methods set out in section 1.5. LemFi can also close or suspend your access to the app in accordance with section 18.

What happens when these terms are terminated? Among other things, you will no longer be a client of LemFi and will therefore be unable to use the app. Accordingly, it is your sole responsibility to ensure that there is no money in any of your wallets prior to terminating these terms and closing your account. For 6 years after these terms are terminated, you will be able to contact LemFi by email to ask LemFi to send money in your wallets to a payment account belonging to you. During this period, LemFi may deduct money from your wallet to pay money you owe to LemFi.

Are there any words used in these terms which might need further explanation? Yes. The following words have the following meaning:

(a) ‘app’ means the "LemFi Finance" mobile application, which is available on Google Play and the App Store;

(b) “APP Fraud” means Authorised Push Payment Fraud, which might arise if you are tricked into sending money to a fraudster or a fraudulent business unbeknown to you at the time of initiating a transaction.

(c) ‘beneficiary’ means the person who will receive money, if you execute a payment using the app;

(d) ‘beneficiary account’ is the mobile money wallet, payment account, bank account belonging to the beneficiary;

(e) ‘electronic money’ means an electronic alternative to money. By way of explanation, when you send LemFi money, LemFi will credit your wallet. The balance of your wallet(s) will be backed by an equivalent amount of money which LemFi holds in its safeguarded accounts. The value in your wallet(s) is technically referred to as “electronic money”;

(f) ‘money’ - when ‘money’ is referred to in these terms, this refers to money (as you would normally understand it) and electronic money stored in your wallet;

(g) “payment” means us sending money from your wallet (other than an NGN wallet - please see section 4.2 for more information) to another wallet or to a non-wallet payment account;

(h) ‘payment account’ means any type of account that can hold money, including a bank account and an electronic money account;

(i) ‘wallet’ means an electronic money account with LemFi.

Is there anything else you should be aware of when reading these terms? Yes:

(a) these terms are concluded in English. If you are reading a non-English version, please note that this is provided for reference only and that the English version is the version which applies;

(b) when reference is made to a business day, this means a day other than a Saturday, Sunday or a bank holiday in England.

4. Information on Accounts

4.1. What are Global Accounts? Your Global Account are your electronic money accounts with LemFi within which you can hold money. At the time of writing these terms, LemFi can provide you with an account in GBP and Euro. As LemFi’s service develops, LemFi will seek to offer you wallets in other currencies. A reference to wallets in these terms means your wallets, held with LemFi.

4.2. You can also open and access, via the app, a wallet in Nigerian Naira (NGN) which is provided by Pagatech (a company based in Nigeria). The use of the NGN wallet is subject to Pagatech’s terms and conditions, which can be found via the following weblink https://www.mypaga.com/paga-web/pc/terms.paga. By opening an NGN wallet, you will be deemed to have agreed to Pagatech’s terms and understand that the use of the NGN wallet is subject to Pagatech’s terms and that Pagatech is responsible for the operation of and payments from the NGN wallet.

4.3. What can you use the money in your wallet for? Once you have money in one of your wallets, you will be able to:

(a) exchange money from one currency to another by transferring money from a wallet you hold in one currency to a wallet you hold in a different currency;

(b) send money to persons, other than you, which hold a wallet with LemFi;

(c) send money in various currencies to bank and mobile money accounts located in the UK and other countries which LemFi permits and supports the details of which are specified on the app (subject to change from time to time). Please refer to this link which explains the current countries supported for international payments.

4.4. How does your wallet differ from a bank account? Your wallet differs from a bank account in that money in your wallet:

(a) will not be invested or lent to third parties;

(b) will not accrue interest; and

(c) will be safeguarded in accordance with section 5, but will not be covered by the Financial Services Compensation Scheme.

4.5. How do you add money to your wallet? You can add money to your wallet:

(a) by sending money from your bank account (by placing a payment order with your bank using a method otherwise than through the app) to your wallet using the IBAN linked to your wallet;

(b) by sending money from your bank account using LemFi’s sort code, account number and your reference number;

(c)receiving money from your friends, family, employer, or customer.

4.6. Are there limits on how much money you can send and exchange using the app? Yes, these limits are set out in the app. If you have any queries on these limits or would like to ask to change them, please contact customer support.

4.7. Are you able to set spending limits on the app? No, only LemFi is able to set spending limits.

4.8. How long will it take for the money to be added to your wallet? This depends on the payment method used. If you pay by:

(a) bank transfer: LemFi will add money your wallet at the time your money has arrived with LemFi in cleared funds; and

4.9. What if you add money to your wallet in a currency other than the currency of your wallet? When you add money to your wallet, it is added in the currency of the wallet you are topping up and not the currency of the money you send. If:

(a) you send LemFi money by bank transfer in a currency other than the currency of your wallet; or

(b) you use a debit card and the money arrives with LemFi in a currency other than that of your wallet,

This money will be converted into the currency of your wallet using LemFi’s standard exchange rates. Your statement will show the exchange rate which applied on the date that the money was added to your wallet. Exchange rates may change and the exchange rate which applies when you check may not be the exchange rate that was used to convert your funds.

4.10. How do you find out the balance of money in your wallets and how will you know when money has been added to your wallets? You can check the balance of your wallets by viewing the balance and transaction history of your wallet on the app. You can view such information from the app at any time until your account with LemFi is closed.
We will send a notification to your mobile device each time you receive money into one of your wallets. You can turn off these notifications through your device’s settings at any time. If you turn off notifications, you should regularly check your payments on the app. It’s important that you know what payments go into and out of your account, so LemFi recommends that you do not turn off notifications.

4.11. Will you receive an automatic statement relating to your wallets? No , LemFi allows you to download your transactional statements as and when required.
Please note that once you are no longer a LemFi customer or your relationship with us has been suspended you will no longer have access to the app to obtain your online statement history. Accordingly, you may wish to print or download any of your account information before requesting the closure of your account to ensure your records are complete. Alternatively, you may request your account statements from customer support. After verification of your identity, LemFi shall email the statements to you.

4.12. Can someone other than you add money to your wallet? A person other than you can add money to your wallet only by sending money from their own account.

(a) sending money from their own wallet with LemFi; or

(b) by sending money from another account they hold and entering the details of the IBAN linked to your wallet as the beneficiary details.

4.13. Will LemFi ever charge any fees? Yes, LemFi will deduct money from your wallet or account when:

(a) you may be charged fees depending on other types of transactions you undertake which shall be communicated to you on the LemFi app before you undertake and authorise such transactions.

4.14. Can you ever have a negative balance in your wallet? LemFi will check that you have enough money in your wallet before deducting money from it. However, you may fall into negative balance if you are charged fees in excess of your balance. If this ever happens, you must immediately top up your wallet. Please see section 4.4 for information on how to do this.

4.15. What if money is paid into your wallet by mistake? if LemFi reasonably believes that money has been paid into your wallet by mistake, LemFi:

(a) shall contact you and let you know;

(b) shall be entitled to share your personal information with the paying bank so that you can be contacted directly;

(c) shall be entitled to freeze an amount of money up to the amount received by you; and/or

(d) shall be entitled to deduct the appropriate amount of money from your wallet and send it to the payment service provider of the payer where LemFi deems that you have been paid by mistake.

You must let LemFi know if you think that a payment made to you was not a mistake. If you think a payment made to you from a payment service provider based in the UK or in the EEA was not a mistake, LemFi may share your personal information with the payment service provider of the payer so that you can be contacted directly. This is because LemFi is required to cooperate with other payment service providers and share all relevant information in order to assist with tracing money sent to the wrong person.

5. Information on how money in your Account is safeguarded?

5.1 When is money safeguarded by LemFi on your behalf? When LemFi receives money for your GBP or Euro account, LemFi will add electronic money to your account and place the equivalent amount of money in segregated bank accounts. This is commonly known as safeguarding. Please note that money in your NGN wallet will be safeguarded by Pagatech.

5.2 What are segregated bank accounts? These are bank accounts which LemFi holds with tier 1 banks and only hold client money and not LemFi’s own money to keep your money safe.

5.3 What is the point of safeguarding? Safeguarding your money means that in the unlikely event that LemFi gets into financial difficulties, the money which LemFi safeguards on your behalf will be protected from the claims of LemFi’s creditors and should be returned to you in full.

5.4 When will LemFi stop safeguarding?

6. The LemFi Mobile app

6.1. What is the LemFi app? The app is LemFi’s mobile application where you can, among other things:

(a) view the amount and currency of money held in your wallet with LemFi and your NGN wallet with Pagatech;

(b) exchange money in your wallet from one currency to the currency of another wallet you hold;

(c) send money in one of your wallets to other wallets and to any payment accounts which are not wallets;

(d) exchange money in one of your wallets to another currency prior to it being sent to the beneficiary account you provide LemFi with the details of;

(e) send a payment order to Pagatech relating to money in your NGN wallet;

(d) view the details of money you have exchanged and payments you have executed;

(f) download your monthly statements.

6.2. How do you access the LemFi app? You can access the app by downloading it onto your phone from your usual app provider. To use LemFi’s mobile app, you need at least the following operating systems:

(a) iOS - version 12 minimum;

(b) android – version 5.0 minimum;

(c) or the applicable latest version of iOS or android as applicable from time to time.

6.3. How do you make a payment using the LemFi app? You can make a request for money in one of your wallets or account to be sent to another wallet or a payment account which is not a wallet via the app by following the instructions on the app, which will include inserting the following details:

(a) the amount of money in the currency of your wallet you wish to make the payment from;

(b) the currency of the money you wish to send to the beneficiary account;

(c) the name of the person, company or institution you want to send the money to; and

(d) if the payment is to a non-wallet payment account, the payment account’s sort code and account number or for international payments the account’s BIC and IBAN or such other information LemFi requests.

You can also make a request for money in one of your wallets to be sent to a payment account by using a payment initiation service provider.

6.4. If the currency of the money you wish to send to the beneficiary account is different to the currency of the wallet you are making the payment from then LemFi will carry out a foreign exchange transaction for you at the foreign exchange rate set out in the app prior to sending money in the exchanged currency to the beneficiary account.

6.5. Can you set up a payment to be made at a date in the future? No, you can only ask LemFi to make payments for immediate execution.

6.6. Can you cancel a payment once you have asked LemFi to execute it? No, however, if you suspect that you have been a victim of fraud or made the transaction in error you must notify us immediately.

6.7. How long will it take for the money to reach the desired account? We are obliged by regulation to let you know the maximum times (as set by law) it should take for money to arrive with the beneficiary’s payment service provider from the date you told LemFi to make a payment. LemFi sets these maximum times in the table below. Please note that it may take much less time for your money to reach the beneficiary’s payment service provider.

7. GLOBAL ACCOUNT SERVICES (Important Information)

7.1 These Terms and Conditions govern the use of the Global Accounts (the ‘Global Account’). Please read these Terms carefully as they affect your rights and liabilities under the Applicable Law.

7.2 If you do not agree to these Terms please do not apply for the Global Account.

7.3 You are ultimately liable for the use of the Global Account and any liabilities that flow from use of such Global Account.

7.4 These Terms and other documents referred to in these Terms (including, but not limited to the ClearJunction Terms and Conditions) constitute a legal contract between you and us and set out both your and our rights and obligations under the Agreement and important information regarding the Global Account that we will provide to you. For your own protection you should read them carefully before accepting them. If you do not understand anything, contact us to ask for further information.

7.5 If it is found that any section within these Terms is invalid, that invalid section will have no effect on the validity of the remaining sections in these Terms. The remaining Terms will continue to remain in place.

7.6 This Agreement constitutes the entire agreement between you and us regarding your Global Account. You acknowledge that you have not relied on any statement, promise, representation, assurance or warranty made or given by or on behalf of us which is not set out in the Agreement.

8. CONDITIONS FOR COMMENCEMENT OF SERVICES

8.1 In order to subscribe for a Global Account, you must:

• be over the age of 18 years; and
• citizen or lawful resident of Nigeria or any other country in which LemFi provides Global Account Services; and
• successfully complete our client verification and on-boarding checks and accept these Terms applicable to LemFi Global Accounts; and
• continue to comply with any other conditions applicable to Global Account as amended from time to time.

8.2 We may amend these Terms where we have a valid reason for doing so. If any amendments result in how we manage and provide the Services notification will be provided to you via LemFi App or through the LemFi email before they are due to take effect.

8.3 Usually, changes will take effect thirty (30) days after the notice has been sent to you (unless an earlier or later date is provided for in the notice). Notifications will not be sent for any other amendments to the Terms.

8.4 If, as a result of the amendments we make to the Terms you wish to close your Account with us, you may do so in accordance with these Terms.

9. GOVERNING LAW

9.1 These Terms and any dispute or claim arising out of, or in connection with them (including non-contractual disputes or claims) will be governed by and construed in accordance with the law of England and Wales.

9.2 You agree that the courts of England and Wales will have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this Agreement (including non-contractual disputes or claims).

10. OUR OBLIGATIONS TO YOU

10.1 We have certain responsibilities under the FCA Rules and other Applicable Law to verify the identity of, and run anti-money laundering checks on, our Customers prior to joining LemFi Global Accounts Services and periodically thereafter. In order to fulfil these responsibilities, we will use third-party identification checking services to confirm your identity when you first use our services, and we will carry out regular monitoring checks while you remain a customer. As such, you give LemFi permission to obtain, verify, and record information that identifies and authenticates you, ultimate beneficial owners and partners (as applicable) and your funding sources. If the information reasonably requested is not granted, or such a change is not approved by us, we will consider this a serious breach of the Terms and may suspend or terminate the Services accordingly.

(a) provide you with access to the LemFi app;
(b) provide you with GBP or Euro accounts for you to store money in; and
(c) make LemFi’s customer service team available to you; and
(d) allow you to use the Global Account to send and receive legitimate and authorised payments.

10.2 We may verify the information you provide us or we obtain ourselves on you in a manner deemed appropriate and suitable to us. In addition, we or a third party on our behalf, may perform periodic (no more than once per month) soft credit checks on you for the purpose of deciding whether or not to allow you to have a Global Account. This will not affect your credit rating. By entering into these Terms, you confirm that you consent to such searches being carried out for this purpose. We reserve the right to close, suspend, or limit access to your Global Account in the event we are unable to obtain or verify such information.

10.3 We will not be liable for any losses, damages or costs arising from our conduct of the checks detailed in clause 5.1 and clause 5.2.

11. YOUR OBLIGATIONS TO US

11.1 You will be legally bound by the Terms so it is important on entering it, and on a continuing basis, you agree that you have and will maintain full legal capacity and all necessary authority, permissions and powers, and have taken all necessary action to enable you:

• to enter into these Terms lawfully and freely;
• to give us orders and instructions based solely on your own instructions and your own use;
• to enter into any transactions at your own risk; and
• use the account or services for lawful and permitted purposes.

11.2 You shall:

• co-operate with LemFi in all matters relating to the Global Account;
• provide LemFi with such information and materials as LemFi may reasonably require in order to operate the Global Account and ensure that such information is true and accurate;
• regularly log on to your online Global Account to review your account activities as well as any communication that may be added to your LemFi Global Account from time to time and to inform us as soon as possible of any disputed transaction; and
• notify us promptly of any changes to your circumstances or information you provided e.g. your income, residency or changes to your contact details, including any associated accounts;
• notify us immediately if you have lost access, control, or use of your account; and
• apply all reasonable efforts to maintain security of your account.

11.3 In accepting these terms, you confirm there is no action, suit or civil or criminal proceeding, or pending or threatened action against you, before any court, tribunal, governmental body, agency or official, or any arbitrator that purports to affect or is likely to affect, the legality, validity or enforceability of these Terms or ability to perform your obligations under these Terms.

11.4 You acknowledge that any transaction dealt by us on your instructions will be based on our risk assessment including any statutory and other requirements relating to money laundering and combating terrorist financing.

11.5 We are legally obliged to keep your information confidential. However, we may be required by Applicable Law to make a disclosure to the National Crime Agency where we know or suspect that a transaction may involve money laundering or terrorist financing. If we make a disclosure in relation to this matter, we may not be able to tell you that a disclosure has been made. We may have to stop providing Services to you for a period of time and may not be able to tell you why. We shall not be liable in any way whatsoever for any loss or damage (including any costs, expenses or liabilities) of any kind incurred by you as a result of having to make such a disclosure or having to stop providing Services to you for such a period of time.

11.6 You are wholly responsible for the accuracy of any information that you provide to us and we shall not be liable to you nor anyone else (in any way whatsoever) should we act upon any incorrect information received from you which may result in financial loss or damage (including any costs, expenses or liabilities) of any kind. You will notify us immediately if you discover that any information we hold for you is obsolete, incorrect, misleading, inconsistent or fraudulent.

11.7 If LemFi 's performance of any of its obligations under the Agreement is prevented or delayed by any act or omission by you or failure to perform any relevant obligation under these Terms ("Customer Default"), LemFi shall without limiting its other rights or remedies have the right to suspend performance of the Services until you remedy the Customer Default. You grant us your consent for us to rely on the Customer Default to relieve us from the performance of any of our obligations, including to the extent the Customer Default prevents or delays LemFi 's performance of any of its obligations.

11.8 In the event of a Customer Default, LemFi shall not be liable for any costs or losses sustained or incurred by you arising directly or indirectly from LemFi's failure or delay to perform any of its obligations as set out in sections 4, 7, 8, 9,10.

11.9 You will indemnify us against any liability, cost, expense, loss or any damage incurred by us (including but not limited to professional advisors' fees) arising from your breach of these Terms, negligence, wilful default or fraud or fraudulent misrepresentation.

12. ELIGIBILITY FOR LEMFI GLOBAL ACCOUNT

12.1 The Global Account and wallets are provided by us through our third party Partners which are subject to our mutual Terms and Conditions, as amended from time to time.

12.2 To open a Global Account, you represent and warrant that:

• you are solely responsible for activities on your account, security over the use of your device to access the LemFi Global Account;
• you shall continue to meet our eligibility criteria on an ongoing basis and as amended from time to time ;
• you have the requisite power, authority and capacity to enter into and comply with these Terms;
• the information you provide us in order to enable us to satisfy our client verification and on-boarding checks in respect of you is complete, accurate and not misleading and furthermore that you will notify us of any changes to the information provided;
• If the Global Account is used for business purposes it will be operated in a way that is compliant with all relevant legislation, regulations, codes of conduct or regulatory guidance or directions.

12.3 You accept that you may only use the Global Account as a freelancer, self-employed person or without any underlying business activity solely for your own transactions without any third party or beneficiary's interest.

13. ACCESSING YOUR GLOBAL ACCOUNT

13.1 As a Customer you will be given access to view your Account via LemFi App. It is your responsibility to keep all your Global Account details including your password safe and secure and ensure they cannot be accessed by others.

13.2 We will take all reasonable steps to ensure your Global Account can be viewed via the LemFi mobile app at any time. There will be times when we need to interrupt our online service to perform maintenance.

13.3 Any Instructions to change details on your Global Account may be made by you subject to available features and functionality of our LemFi app and your device. It is important that you maintain the email address we have for you to ensure that any important communications or alerts are received. You should also make sure that your email settings are set up to receive emails from us.

13.4 You must tell us immediately if you do not recognise any transaction within your Global Account.

14. YOUR INSTRUCTIONS TO US

14.1 You can give us instructions related to your Global Account via LemFi app or where so accepted by us via email.

14.2 We will always follow your instructions unless:

• we reasonably believe that you didn’t authorise the instruction;
• we reasonably suspect the instruction is fraudulent;
• it’s necessary to reject your instruction to protect you or us from a crime;
• your instructions are unclear or incomplete;
• following your instruction would mean that we breach a law or regulation that we must comply with; or
• following your instruction would mean your account goes below Nil balance.

15. PAYMENTS INTO YOUR GLOBAL ACCOUNT

15.1 We will only allow payments from you, friends, family, or your customers provided your incoming and outgoing payments are legitimate, untainted with fraud, free from theft or any criminal activity whatsoever, and subject to our approval.

15.2 We cannot accept any cash or cheque payments into your Global Account.

15.3 When we have received an electronic payment the money will be credited to your account on the same day subject to any delays beyond our control and our acceptance of the transaction in compliance with our legal and regulatory obligations, including but not limited to additional and satisfactory information being provided by you related to your transactions.

16. WITHDRAWALS FROM YOUR GLOBAL ACCOUNT

16.1 All withdrawals must be authorised by you.

16.2 Withdrawal values must not be less than £1 unless you wish to close your Global Account.

16.3 You may be asked to produce confirmation of your identity before any withdrawal is carried out and a withdrawal is not authorised by us until this confirmation has been provided to us.

16.4 Withdrawals from your Global Account can only be made by Faster Payment into your Nominated Account. Upon processing, we will debit your Global Account with the amount you have instructed us to pay.

16.5 Payments out of your Global Account are instant and we cannot stop a payment you’ve asked us to make once they have been processed.

16.6 You will not be able to submit a withdrawal request if you do not have enough money in the Global Account to make the payment.

16.7 You must retain a minimum balance of £1 unless you wish to close your Global Account.

17. OUR RIGHT TO BLOCK YOUR ACCOUNT OR AN ELECTRONIC PAYMENT

17.1 Your Global Account has the ability to send and receive Faster Payments, through the Faster Payments Scheme, operated by PayUK. We reserve the right to restrict the amount of money you may send or receive at our sole discretion. We will stop you if you try to make a withdrawal exceeding the limit we may impose in relation to your Global Account.

17.2 We can refuse to carry out any transaction on the Global Account in the following circumstances:

• we reasonably believe that you or someone else is using the Global Account illegally or fraudulently;
• we are required to do so by law or we reasonably believe that carrying out the transaction would cause us to breach any law or regulation that applies to us;
• you are subject to a bankruptcy, insolvency, winding up or other similar event or where we reasonably believe that any of these are likely to happen;
• the relationship between you and us has irretrievably broken down (for example you have been threatening or abusive to our colleagues);
• there is a dispute (which we reasonably believe to be genuine) about the ownership or entitlement to the money in the Global Account;
• you are in breach of these Terms;
• we need to contact you to verify the validity of or clarify any instructions;
• we need to ask you for further information to complete the payment and you do not provide it to us;
• we need you to provide identification documents, or any other information, to prove your identity, or the authenticity of such information, to ensure we are meeting our legal and regulatory obligations;
• we need to verify the identity or authority of any person attempting to carry out a transaction on the Global Account or who informs us that they are acting for you;
• there are insufficient cleared funds in the Global Account to cover the amount of the payment;
• the terms of the Nominated Account prevent completion of an Electronic Payment;
• there are technical issues which prevent us from executing an Electronic Payment;
• circumstances beyond our reasonable control prevent us from offering a normal service (such as a computer failure or industrial action); and/or
• we believe that you are using the account for business purposes not permitted by us.
• we reserve the right to decline receipt of any payments coming into your account at our sole discretion.

17.3 We will tell you if we do not accept or make a payment for you and the reason why unless we cannot for legal, regulatory or security reasons.

18. ACCOUNT CLOSURE

18.1 If you wish to close your Global Account, you just need to tell us. You can do this at any time through email sent to our Customer Support.

18.2 In addition to your cancellation rights, LemFi shall be entitled to close your Global Account immediately for the following reasons:

• if you have not given us any documents, we need to meet our regulatory or legal responsibilities;
• if you have failed to provide us with satisfactory evidence or documentation for us to complete our anti money laundering verification process;
• if we believe, acting reasonably that any information or declaration you have given to us when opening a Global Account or subsequently, is untrue, misleading, or incomplete in any material way, or if you fail to inform us of any information you later become aware of which makes any previous information untrue, misleading or incomplete;
• if you have behaved abusively, offensively or violently towards our staff. Or you use abusive or offensive language in instructions you give us;
• if you have misused the Global Account, including looking after someone else’s money or as part of an economic crime such as money laundering, fraud, bribery, corruption, terrorism finance, or to avoid sanctions, or if you’ve acted fraudulently or illegally.
• if under the terms of a court order; or
• if you have done or failed to do something which means we are unable to comply with our legal and/or regulatory obligations.

18.3 If we close your account or end the agreement for any other reason not listed in 13.2 we will give you one calendar months’ notice. This may include if your Global Account has a zero balance.

18.4 Unless prevented due to legal reasons, upon the closure of your Global Account we will send any money held with us to your Nominated Account.

18.5 Subject to 13.4, we may retain the money in your Global Account if you do not address any concerns we have about the origin of the money or another person claims that the money belongs to them. If this occurs, you will not be able to access the money and we will continue to hold the money until the issue is resolved.

18.6 We will not be legally responsible for any remuneration, costs, charges, fees, expenses, taxes, or other amounts which become payable by closing your Global Account.

19. CONFIRMATION OF PAYEE

19.1 In accordance with regulatory standards, applicable law or fraud prevention you may be required to confirm the person or party to whom you are authorising a payment.

20. TRANSACTION STATEMENTS

20.1 We will provide you with information about your Global Account within your LemFi app and this information will be updated each time you make a transaction.

20.2 As your Global Account is managed via the LemFi app you will only receive electronic transaction statements.

21. TAX REQUIREMENTS & REPORTING

21.1 To follow the law, we may need to share information about you and your Global Account with Her Majesty’s Revenue Services (“HMRC”)or some other competent tax authority. They may pass this on to other tax authorities in other countries. You agree that we can give documents or information to HMRC for this purpose.

21.2 If we ask you to give us personal information or documents so that we can decide if we need to share information with HMRC, you agree to do this within 30 days of our request.

21.3 You’ll need to let us know if any of this information changes after you give it to us. We won’t be responsible for any loss you may have if we disclose information about you in this way.

22. TRANSFERRING RESPONSIBILITIES

22.1 These Terms are personal to you and you may not transfer or assign any rights or obligations to any third party.

22.2 We may assign or transfer its rights and obligations under the Agreement to any Affiliate or to any successor business. If this occurs, you will be notified by email.

22.3 If we assign or transfer any rights or obligations with regards to clause 19.2, you authorise us to transfer any of your money held by us or on our behalf to such Affiliate or successor business, or someone nominated by that person.

22.4 We will only transfer your money to another person who we believe will hold them under the FCA Rules or in respect of whom we have exercised all required due skill, care and diligence in assessing whether that person will apply adequate measures to protect it.

22.5 We will give you at least ten Business Days written notice prior to any actions under this clause 19.

22.6 If you object to such an assignment, you may terminate this Agreement and close your Global Account with us in accordance with these Terms.

23. LIABILITY

23.1 No provision of the Agreement will be deemed to restrict, qualify or exclude any duty owed to you under the FSMA or the FCA Rules or that FSMA or the FCA Rules do not allow to be excluded or restricted. Except and to the extent of any duties that we owe you in accordance with any statutory rights that we cannot lawfully exclude or restrict any liability therefor, we do not owe you any further duties except as expressly set out in this Agreement.

23.2 We will not be liable to you for any loss, damages or costs suffered or incurred by you except and only to the extent that such loss arises directly from our gross negligence, wilful default, or fraud. We will not be liable to you for any losses, damages or costs suffered or incurred by you:

• which could not have been reasonably anticipated by us when you gave us an instruction;
• in relation to any loss of business, loss of goodwill, loss of opportunity or loss of profit; or
• which are indirect or consequential.

23.3 In exceptional circumstances, you might be entitled to recover some or all of your losses (subject to legal limits) if you have been a victim of App Fraud (subject to section 24) and have informed us immediately of such an event, or where you have made an unauthorised transaction.

23.4 Nothing in these Terms require you to compensate us to any extent prohibited by Applicable Law.

23.5 We will not be liable for any loss or damage of any kind that is attributable to:

• our failure to take any action which, in our opinion, might breach an applicable FCA Rule or any other Applicable Law, or any action taken in order to comply with Applicable Law or the requirements of any market;
• any loss (including, without limitation, those which may occur due to delays during the process of verifying your identity in compliance with money laundering regulations);
• any reasonable refusal or failure to accept and / or execute any instruction received by you; or
• our reasonable reliance on any information, instructions, notices or communications that we believe to be from you and/or a person authorised by you to give the same, including any person authorised to give instructions in respect of your Global Account.

23.6 We will take reasonable care in the assessment and appointment of bankers, counterparties, agents and other third parties. Subject to the performance of that duty we will not be liable for any losses, damages or costs suffered or incurred by you that is attributable to the performance of any third party involved in the provision of the Global Account.

23.7 LemFi will not be responsible for any liabilities arising because of any circumstance outside of its reasonable control. Such circumstances may include, but are not limited to, changes in Applicable Law, governmental, regulatory or judicial changes, currency restrictions, acts of God, civil unrest, war, terrorism, strikes, lock-outs, industrial disputes, breakdown in market systems or infrastructure (including of trading, clearing house, market participant or counterparty), failure, breakdown or disruption of electronic communications or other communications or computer service.

24. FORCE MAJEURE

24.1 We shall not be in breach of these Terms if there is, and shall not be liable or have responsibility of any kind for any loss or damage incurred by you as a result of, any total or partial failure, interruption or delay in performance of our duties and obligations occasioned by any act of God, fire, act of government, state, governmental or supranational body or regulatory authority or war, civil commotion, terrorism, failure of any computer dealing system, interruptions of power supplies, labour disputes of whatever nature or any other reason (whether or not similar in kind to any of the above) beyond our reasonable control.

25. THIRD PARTIES

25.1 A person who is not a party to the Agreement will not have any benefits under the Contracts (Rights of Third Parties) Act 1999 and will not have any rights to enforce its terms.

26. LEMFI NOTICES AND REPORTS

26.1 We will send all notices, information and other correspondence to you via the LemFi app or to the email address you have provided us with when you set up your Global Account. You agree as an ongoing obligation to provide us with an up to date email address and to inform us as soon as reasonably practicable if this should change. LemFi is entitled to rely on the last email address you have provided, and an email sent to that email address by LemFi shall be good service under these Terms.

26.2 We cannot guarantee that general emails will be successfully delivered, or that they will be secure and virus free. We will not be liable for any loss, damage, expense, harm or inconvenience caused as a result of an email being lost, delayed, intercepted, corrupted or otherwise altered, or for failing to be delivered for any reason beyond our reasonable control.

26.3 If we choose to correspond by post, communications will be sent to the address you provided when you set up your Account. Alternatively, we may communicate with you when appropriate by telephone.

27. SECURITY

27.1. Your access to the LemFi app will be protected via the username and password you created as part of the registration process.

27.2 Your username and password are personal to you and you must not share your username or password with anyone else. We shall not be liable to you for any losses, damages or costs suffered as a result of you sharing your username or password with a third party.

27.3 You must notify us immediately if you learn or suspect that the security of your username or password may have been breached. If we receive such a notification from you or determine ourselves that the security of your username or password may have been breached, you will not be able to access your LemFi Global Account until measures have been taken to verify your identity.

28. COMPLAINTS

28.1 If you wish to make a complaint in relation to the Global Account, please contact our customer support team at: support@lemfi.com or complaints@lemfi.com

28.2 If your complaint relates to the Global Account or any payment transaction relating to the Global Account and after having received our final response you are still unhappy or not satisfied you may refer your complaint falls within the Financial Ombudsman Service’s jurisdiction complain to the Financial Ombudsman Service (FOS) at: http://www.financial-ombudsman.org.uk/. You can also call or write to the FOS on 0800 023 4567 or at Exchange Tower, Harbour Exchange, London, E14 9SR.

29. PERSONAL INFORMATION, CONFIDENTIALITY AND DATA PROTECTION

29.1 We will obtain, process, store and use your personal data in accordance with and subject to Data Protection Legislation. Our Privacy Notice that explains how we collect, use, disclose, transfer and store your information.

29.2 We will keep records of any information obtained to verify your identity for as long as we are prescribed to do so by the Money Laundering, Terrorist Financing and Transfer of Funds (information on the Payer) Regulations 2017 as amended, supplemented or replaced from time to time.

29.3 You consent to and grant us the authority to disclose any information (when required by law or otherwise) in relation to your Global Account to the following bodies:

• HMRC or other UK government body;
• any regulatory authority, for example the FCA; or the police; or,
• a regulated contractual third party.
• any government body.

30. APP FRAUD CLAIMS

30.1 If you are a victim of an Authorised Push Payment (“APP”) scam. These rules apply to you in relation to a claim for full or partial refund provided your transactions were carried out using Faster Payments and CHAPS and in accordance with clauses 24.4- 24.6:

you must notify us immediately if you are a victim of fraud and provide all relevant information, including but not limited to why you believe you are a victim of fraud, the nature of fraud, what payments you authorised and why, and actions you took following the fraud, for example reporting the fraud to the UK Police; and
co-operate with our internal enquiries promptly and in a transparent manner

30.2 We will investigate your claim for App Fraud and provide you with our response subject to our legal and regulatory obligations.You accept that we may not be able to provide a written response to your claim for App or any other type of fraud, if it contravenes our other legal or regulatory obligations as applicable to us.

30.3 Following receipt of an App Fraud claim, we shall investigate such claim and respond to you in accordance with clause 24.2.

30.4 If we are satisfied and provided you have not contributed to the App Fraud by acting fraudulently, dishonestly, illegally and your claim is genuine we might be able to offer you a refund for part or whole of your losses subject to any third parties payment partners overall assessment.

30.5 You accept and acknowledge that your entitlement to an App Fraud claim is subject to:

• timely receipt of your App Fraud claim;
• our ability to investigate the circumstances of the App Fraud;
• our ability and that of any third party payment providers to obtain relevant and timely information to decide on eligibility for reimbursement, including; documents requested by a third party payment services partner to enable them and us to assess the claim and consent to the sharing of that information with the police or any other appropriate authority; and
• provided the App Fraud did not take place over 13 months ago from the date of the App Fraud; and
• you have either notified the Police in the United Kingdom or consent for us to notify the UK Police or Action Fraud about you being a victim of fraud; and
• We or the third party payment partner may decline a refund where you have not acted within the required timeframes, acted fraudulently, dishonestly, illegally, and there is a genuine dispute relating to the underlying goods and/or services provided or if you have been careless and ought to have known the payment was part of an APP Scam.

30.6 Provided you are eligible for a full or partial refund, we will process and pay out valid claims.