O B C O N N E C T

We deliver Open Banking

Customer Terms and Conditions

This page was last updated: 16th August 2022 

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING OUR ACCOUNT INFORMATION SERVICES (“AIS”) OR PAYMENT INITIATION SERVICES (“PIS”).

General

OBConnect Limited (“OBConnect “, “we”, “us”), a company registered in England and Wales (company number 12311322) with our registered office at 4th Floor Radius House, 51 Clarendon Road, Watford, Hertfordshire, England, WD17 1HP.

OBConnect is authorised and regulated by the Financial Conduct Authority (“FCA”) (Firm Reference Number: 935017). We are authorised by the FCA to provide account information services (“AIS”) and payment initiation services (“PIS”), making us both an account information service provider (“AISP”) and a payment initiation service provider (“PISP” ).

The FCA’s contact details are as follows:

Financial Conduct Authority

12 Endeavour Square

London, E20 1JN

Contact Centre: 0300 500 0597

Consumer Helpline: 0800 111 6768

We are not authorised to give you any financial or investment advice under the Financial Services and Markets Act 2000

These Terms and Conditions apply to you (“End-User“, “you“) each time you use OBConnect’s Services through the applications or websites of OBConnect’s partner companies (“Partners“). By accessing or using the Services through any means, you are agreeing to be bound by these terms and conditions which govern your use of the Services (the “Terms & Conditions”) together with the Privacy Policy found here.

The provisions of these Terms & Conditions are personal to you, and you cannot assign or transfer any of your rights or obligations under them. If there is any conflict between these Terms and terms that apply to additional services, the terms applying to any additional services will prevail in the conflict. If any part of these Terms is invalid, that part of the Terms shall be modified to make it valid or deemed deleted if it is not possible to modify the term. This will not affect the rest of the Terms. A person who is not a party to these Terms & Conditions has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Terms & Conditions. Nothing in these Terms & Conditions affects the liabilities, rights and obligations of you and the third-party provider under the applicable terms between you and the third-party provider.

We can assign or transfer our respective rights and/or obligations under these Terms & Conditions.

As our agreement with you has no fixed end date, we may update these Terms and Conditions at any time and the changes will be published on this page.

If you do not agree to these Terms and Conditions, you cannot use any of our Services.

To contact us, please email info@obconnect.io

Our Services

We provide regulated Account Information Services (“AIS“) which allows you to request from your Account Servicing Payment Service Provider (“ASPSP”) information relating to your Payment Accounts (“Account Information“) .

In order to use our AIS service, you will be directed to a page where you will be able to give your consent to OBConnect, select the Account Servicing Payment Service Provider and Payment Account you want to connect to, and the Account Information you want to access and, if relevant, share with Partners or other third parties. When you confirm your consent, you instruct and give your consent to OBConnect to access the Payment Account(s) and Account Information that you have selected and to provide that Account Information to you and share it with any Partners or third parties you have selected and instructed us to share data with.

After you select your Account Servicing Payment Service Provider and Payment Account, OBConnect will redirect you to your Account Servicing Payment Service Provider (either on a web browser, or your banking mobile application) who will ask you for your Credentials, which may include two factor authentication (e.g., a password and biometric credential such as a fingerprint) for authentication. Neither OBConnect nor the Partner will be able to see or access your Credentials at any time. Once your Account Servicing Payment Service Provider has confirmed authentication, we will access your Account Information, provide it to you, and share it in accordance with your instructions to us.

The Account Information retrieved and shared may include your personal account details (such as name, address, email, phone number), transaction history, transaction amounts and descriptions, account name and number, currency, account balance, any overdraft balance, payment due dates and other information about your transactions.

You will need to renew OBConnect’s access to your Payment Account(s) at least every 90 days, and every time you wish to access and/or share Account Information other than your account balance or transaction data relating to transactions occurring in the last 90 days.

Providing AIS Through a Partner who is our agent. We may provide AIS through a Partner that is registered with the FCA as our agent for the provision of AIS. In those circumstances, we (and not the Partner) are responsible for the provision of AIS, although we may display consolidated Account Information to you through the Agent’s app or website.

We make no warranty that our Account Information Services will be uninterrupted, timely or error free; or that the information presented will be accurate or reliable.

In the event of suspected or actual fraud or security threats to your Authorisation or any of your Payment Accounts, please contact your ASPSP directly.

We provide regulated Payment Initiation Services (“PIS“), which means that, with your explicit permission, we can initiate payments to others directly from your ASPSP. The Account Servicing Payment Service Provider will only act on the instruction to make the payment after you give them your credentials and successfully authenticate with them. We will never ask you to share your credentials with us.

When you consent to the use of our Payment Services you are authorising us to transfer the amount of money you have selected from your Payment Account directly to the person you have instructed us to pay in accordance with the respective payment order (“Payment Order”), solely as a PISP.

When you choose to make a payment using our PIS product you will be directed to a page to select your Account Servicing Payment Service Provider and the Payment Account from which you wish to make payment. By selecting your Account Servicing Payment Service Provider and Payment Account, you consent to use the PIS product and instruct OBConnect to initiate a payment of your chosen amount to your chosen recipient, details of which will be clearly displayed.

After you select your Account Servicing Payment Service Provider and Payment Account, OBConnect will redirect you to your Account Servicing Payment Service Provider (either on a web browser, or your mobile banking application) who will ask you for your Credentials, which may include two factor authentication (e.g., a password and biometric credential such as a fingerprint). Neither OBConnect nor the Partner will be able to see or access your Credentials at any time.

Once your Account Servicing Payment Service Provider has confirmed authentication, we will instruct your Account Servicing Payment Service Provider to make a payment in accordance with your instructions (a “Payment Order”). Once you have authorised the payment with your Account Servicing Payment Service Provider, funds will usually leave your Payment Account immediately and, at the latest, within two hours. We or the Partner will confirm the successful initiation of a Payment Order, but your Account Servicing Payment Service Provider (and not OBConnect) is responsible for executing it.

We are not responsible for any problems that you might have with the functionality or suitability of your Account Servicing Payment Service Provider. We are responsible for retrieving and transmitting your Account Information safe and securely but not for the content of your Account Information itself, which is the responsibility of your Account Servicing Payment Service Provider. If you have any questions in relation to these, you should speak to the relevant Partner that provides the app or website that you are using, or to Account Servicing Payment Service Provider.

Your use of the Partner’s services and your Payment Account will also be subject to other terms and conditions – these Terms will not affect any of those terms.

In particular, the Partner and your Account Servicing Payment Service Provider will have separate rules on data protection that will apply to your use of their services.

The Partner delivering the app or website will only be able to access this information if you have explicitly given them your permission to do so.

When you use our Services

We are providing the Services to you only and you should not share your access to the Services with anyone else. By using the Services, you represent and confirm that:

  • all the information you have provided to us and/or the financial institution (where applicable) is accurate and correct and you are the person whose details you have provided.
  • you will not use our Services for any fraudulent, unlawful, or abusive purpose.
  • when you are using our AIS, you give us your explicit consent to retrieve and share Account Information from your selected Payment Account(s) with you and any Partner that you select.
  • when you are using our PIS, you are giving us your consent to initiate a payment from your selected Payment Account(s) to your selected recipient.

Our Services are provided on an ‘as is’ basis and we make no representation, guarantee or agreement of any kind as to the accuracy of the information generated by our tools, or provided to our Clients, nor the functionality of the Account Information Services. This means that we do not, and are not required to, check the accuracy of the Financial Information before we provide it to our Clients, nor are we responsible for any decision our Clients make in relation to such Financial Information provided by us to them.

Intellectual property

OBConnect owns all rights, title, and interest (including intellectual property rights) in and to the Services, our website and technology.

Your use of the Services does not transfer any rights to the content and related intellectual property rights contained in the Services.

Liability

We will do everything reasonably possible to prevent unauthorised access to the Account Information Services and Payment Initiation Services and we will accept liability for loss and/or damage to you resulting from any unauthorised access to such Services (except as expressly excluded within these Terms & Conditions).

We are not responsible for any loss or damage that is not foreseeable or, to the extent permitted by law, for any indirect or consequential losses (including lost profits, lost revenue, or financial losses) arising in the course of a business carried on by you.

We will have no liability for refusing you access to the Account Information Services and/or Payment Initiation Services or any other product or service we may provide.

OBConnect will not be responsible for any loss you may suffer as a result of your material failure to comply with these Terms or caused by matters beyond our reasonable control, for example, an interruption or failure of a utility service, pandemic, industrial action, natural disaster, explosion, or accident. We do not exclude or limit in any way our liability to you insofar as it would be unlawful to do so.

We will not be liable to you for any loss or damage if another ASPSP or one of our product partners is responsible for such loss or damage.

If, following use of our Services, you notice unauthorised, or suspicious transactions on your Payment Account, you should immediately contact your ASPSP, who is responsible for investigation, and, where necessary, reimbursing you.

Termination

We may terminate our agreement with you or suspend your access to any part of our Services at any time if you have breached any of these Terms or if we believe we are required to do so by law.

Upon termination of your agreement to these Terms & Conditions for any reason all rights granted to you under these Terms & Conditions will cease and you must immediately cease all activities under these Terms & Conditions, including your use of the Services.

Complaints

If you are unhappy or dissatisfied in relation to any of obconnect’s services, then the easiest way for us to help resolve your issue is for you to contact us at support@obconnect.io. Alternatively, you can write to us at:

67 Haydons Road

Wimbledon

London

SW19 1HQ

UNITED KINGDOM

In the event that you make a complain we aim to acknowledge your complaint within 5 working days and we will make every effort to rectify the problem as soon as practicably possible.

If you are a consumer, micro-enterprise or other eligible complainant and you are not happy that your complaint or grievance has not been dealt with satisfactorily, you have the right to take your complaint to the Financial Ombudsman. You can contact the Financial Ombudsman at The Financial Ombudsman Service, Exchange Tower, London, E14 9SR or by calling them on 0800 023 4567.

The European Commission has also established an online dispute resolution platform to facilitate communication between the parties involved in a dispute arising from an online transaction (including disputes arising in respect of the Services). The platform is available here.

These Terms and Conditions are governed by English law. You and we both agree that the courts of England and Wales will have exclusive jurisdiction except that if you are a resident of Northern Ireland, you may also bring proceedings in Northern Ireland, and if you are resident of Scotland, you may also bring proceedings in Scotland

OBCONNECT is regulated by the UK Financial Conduct Authority under the Payment Services Regulations 2017 with Firm Reference Number 935017.

Copyright © OBCONNECT LIMITED 2022 All rights reserved.