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Terms of use

Terms of use banqUP Services

Thanks for choosing banqUP (“banqUP”, “we”, “us”, “our”). By signing up or otherwise using the banqUP platform, websites, and software applications, or accessing any content or material that is made available by banqUP through the – platform you are entering into a contract with the banqUP, Prins Boudewijnlaan 24A, 2550 Kontich, Belgium.

banqUP platform provides SME customers with:

  • Onboarding (registration) process, including:
    • KYC- Know Your Customer- video identification procedure required for opening the bank account in our partnering bank solarisBank AG Service is provided by IDNow and Identity Trust Management
    • KYB – Know Your Business- video identification procedure required for opening the bank account in our partnering bank solarisBank AG Service is provided by IDNow and Identity Trust Management (planned in Q4 2017)
  • Digital business banking functionalities for solarisBank AG account, cards and other financial products offered on the platform
  • Online platform for business finance management
  • Mobile application providing on the go access to key platform functions, alerts and actions (planned in Q4 2017)
  • Service for aggregating financial data from external banks provided by Kontomatik
  • Payment services (including SEPA and integrated third-party payment engines and FX platforms)
  • Business services provided by the Partners integrated on the banqUP platform
  • Accounting and invoicing capabilities
  • Financial data analytics

In order to use the banqUP services you can either link an existing bank account or make an agreement on the creation of a business account with solarisBank AG bank account.
We will inform you (“End User”) in time and in an appropriate manner regarding the details of the performance of the banqUP services or the bank, the conditions for exploiting their results and additional contractual provisions

In order to use the service it is required to use one of the web browsers:

  • Firefox 40 (or newer);
  • Chrome 45 (or newer);
  • Internet Explorer 9 (or newer);
  • Safari 7 (or newer).

For mobile access and mobile app it is required to use Android O.S 4.1 or later  or iOS version 7.1. or newer.

1.Scope

1.1. These Terms of Use regulate your use of all content of banqUP platform, functions, services and rules in the contractual relationship between us and you. Terms by you will be part of the contract only if we have them expressly agreed in writing.

1.2. In addition to these Terms of Use there are required conditions for the use of third-party services (such as other FinTech services) and credit institutions, which will allow us to access your data for the purpose of using the banqUP services.
This includes in particular solarisBank AG, in order to use the services of banqUP when you open an account that meets the following conditions:

2. Agreement

2.1  The subject of the contract is a banqUP Service.

2.2  By banqUP service you can get access to financial information, such as incoming and outgoing payments in your past credit institutions and open a business account with solarisBank AG

2.3  Account information is transmitted securely.

2.4  To access the interface to financial information, which can be gathered from other banking or FinTech providers, we use the third party methods to download financial information.

2.5 We make our best to complete the usability and availability of banqUP services, but we cannot give any warranty. We will make every effort to ensure that 97% of services (Service Level Agreement “SLA”) will be available throughout the year. You acknowledge that access to technical services may be temporarily limited because of the reasons beyond our control (with third party fault). If maintenance is required, and therefore the banqUP service is unavailable, we will inform you in advance. Problems in operation of banqUP Services, due to maintenance work, are not included in the SLA.

3. Registration and opening of a bank account

3.1  Registration in banqUP Service is required to use any banqUP services. You can register in the following way:

3.1.1 To start using the application, banqUP service sends an order to verify your e-mail address, mobile phone number and asks you to fill the application form.
During the registration process you can decide if you want to open a bank account with solarisBank AG or use the service without opening new bank account. You can always decide and open the bank account in the future.
If you decide not to open the bank account with solarisBank AG within the registration process, you can still use the platform, third party services as well as a digital frontend for Other existing accounts in other banks. Some functionalities can be limited

3.1.2. The registration process ends at the entrance to the legal section. By clicking on the “Register” button when selecting a password, you accept banqUP conditions in order to use banqUP Services, and possibly those of other partners. We will provide you with timely and appropriate information on these additional cooperation partners as well as on the requirement to accept their general terms and conditions of business.

3.1.3. If you decide to open a bank account with solarisBank AG, in order to verify the identity of the person banqUP redirects customers, who are individuals, on behalf of the Bank to their identification methods. Verification of identity is carried out by an external service provided on behalf of the Bank. To verify the identity of the individual, bank uses Video Identification method.

3.1.4.Verification of the identity of legal entities is carried out by a bank or a credible third entity on the basis of a certificate of registration and other certificates.

3.2. Current Account:  banqUP services requires an agreement for the installation and use of solarisBank AG current account. banqUP account is created for the customer and is obliged to append completed payments to the bill as well as the transfer orders at the expense of the account. The current account is managed as a current bank account. The agreement to open an account is done in the following way:

3.2.1.We collect the following data in the account application process:

  • legal form
  • birth date, nationality
  • name/company name
  • company tax ID
  • address
  • phone number, e-mail address
  • Information on FATCA

To complete the account registration, individuals are invited to perform video identification.
After successful identification, the customer may “create new account” by clicking on the respective button.
To complete the account registration legal entities will then be asked to scan an identification document.
After successful identification, the customer may “create new account” by clicking on the respective button.

3.2.2. The bank shall open the current account or refuse to open it if you do not adequately cope with the fulfillment of the due diligence obligations pursuant to § 3 para. 1 no. 1 to 3 AMLA and inform banqUP accordingly. This process can take several hours.

4. Data aggregation form external bank account

4.1. You can add existing bank account in order to download financial data (list of accounts, list of transactions). We use third party services for financial data aggregation.

  • Poland – Kreditech Kontomatik
  • Germany– Kreditech Kontomatik
  • Spain– Eurobits Technologies
  • Italy– Eurobits Technologies

Scope of services, technical details and security measures of each service are describes as a part of respective partner’s website documentation

5. Usage of banqUP services, communication, information change

5.1. Communication with you is determined by the banqUP platform (particularly in relation to delivery of account statements) and e-mail, as well as by our customer service.

5.2.  You can change the following information manually on the user’s account:

  • E-mail
  • Cell phone number
  • Contact person

5.3. Changing the e-mail address or phone number are re-checked by banqUP.

5.4. The use of an account subject to the terms of banqUP and its associated conditions of the contract Bank.

5.5. Completion and closing of accounts will be normally sent to the bank. banqUP will be adequately informed. If you already have an account deposit reference, the existing loan will be transferred to this account. Otherwise, we will ask you to provide us with this reference to the account.

6. Data protection and data retrieval

6.1 We are bound to protect your data by appropriate and high tech measures and to ensure that we do not disclose personal data to our users unless there is legal obligation to do so or if you have given your consent. Details regarding the handling of personal data, data protection and data security result from our data protection declaration.

6.2. Data transmission is via a secure and encrypted Internet connection.

6.3. Your access data will be deposited in a bank account center for the use of an existing account.

6.4. We reserve the right to change the practice described here if there are any technical or legal conditions changes. We will inform you about this at an early stage, as far as legally and technically possible, at least 4 weeks in advance.

7. User duties

7.1. You are responsible for the secrecy and security of your access data to the banqUP Service. This means that you have to keep your access data secret for access to the banqUP Service, do not allow third-party access, and take the necessary measures to ensure confidentiality, (eg by entering a secure password from numbers, letters and special characters and changing your password regularly).

7.2. You will ensure that the e-mail address you specify is accessible from the time of registration, and receipt of e-mail is not impossible, (eg due to the forwarding, cessation or overfilling of the e-mail account.)

7.3. In the case of an abuse of your user account, a corresponding suspicion or if you lose your access data, you are obliged to notify us immediately via e-mail.

7.4. You will take appropriate precautions to ensure that you regularly and appropriately enter uploaded and stored data and content, as well as to create your own backup copies in order to ensure the reconstruction of the data and information.

7.5. When using the banqUP Service, you must comply with all applicable laws and regulations of the Kingdom of Belgium.

7.6. It is forbidden to make attacks on the functionality of the banqUP service, such as bulk mailing (SPAM), hacking attempts, brute force attacks, use or transmission of spy software, viruses and worms.

7.7. Insofar as you violate these rules in clause 7.6, we are entitled to warn you, temporarily block you, or even to exclude you entirely from the use of the banqUP Service.

8. Compensations

8.1. You indemnify us against all claims, including claims for damages, against other users or other third parties, including authorities, against us for breaching their rights by using the banqUP Service. You are responsible for all reasonable costs, including the reasonable costs incurred by us in the event of a violation of the rights of third parties. All further rights as well as damages claims from us remain unaffected. You have the right to prove that we actually incurred lower costs.

8.2. The above obligations shall only apply if you are responsible for the infringement in question. This means, if you have intentionally neglected the care required in the traffic.

9. Duration and termination of the contract

9.1. The contract for the use of the banqUP Service is concluded indefinitely.

9.2. You may cancel the contract at any time by sending an email. We will delete your user account. Unbacked data will be lost when terminating, as we completely delete your user account. We would also like to remind you of this before the account removal.

9.3. We may terminate the contract of use with a period of four weeks by e-mail.

9.4. The contract may also be terminated by any party for important reasons. An important reason, which entitles us to terminate the contract, is in particular if you violate contractual obligations – in particular against the obligations described in clause 7.6. banqUP reserves the right to its partners

10. Liability for defect

10.1. banqUP is only liable for defects which we have previously fraudulently concealed from you or which were caused by us deliberately or due to gross negligence. A defect is always present if the suitability for the contractual use is lifted or not insignificantly reduced.

10.2. You are obligated to notify us by e-mail without delay of the defects which have occurred.

10.3. You are not entitled to compensation for damages due to a defect in banqUP which is present at the time of conclusion of the contract or due to a circumstance which we are not responsible for.

10.4. Claims and rights other than those expressly referred to in this clause 10 shall not exist insofar as we are not liable as a result of mandatory statutory provisions.

11. Limitation of liability

For the use of the banqUP Service, the liability of us is limited to intent and gross negligence or absence of a guaranteed property. In case of intent, we are liable in full, in the case of gross negligence and the absence of a guaranteed property, the liability is limited to the amount of typical and foreseeable damage. Any further liability is excluded.

12.  Changes to these terms and conditions

We may change these terms and conditions with effect for the future, which are reasonable considering the interests of both contracting parts. The change of a main performance obligation is excluded. We will send you the amended conditions by e-mail before the planned entry into force and point out separately the new regulations as well as the date of entry into force. At the same time, we will grant you a reasonable, at least 4 weeks long period, for the declaration in which you can object to the changed terms of use. If no statement is made within this period, which begins to run by e-mail from receipt of the message, the amended terms shall be deemed agreed. At the beginning of the term, we will refer you separately to this legal sequence, it is the right of objection, the period of opposition and the meaning of the silence.

13. Other

13.1. The law of the Kingdom of Belgium shall apply to the exclusion of the UN purchase law.

13.2. The exclusive jurisdiction for all disputes arising from this contract is Kontich, provided that you are an entrepreneur, do not have a general court of jurisdiction in Belgium or in another EU Member State, your permanent place of residence has been transferred abroad after the effective use of these Terms of Use or your place of residence or habitual abode is abroad at the time the complaint.

13.3. Should individual provisions of these Terms of Use be or become invalid or should be contrary to statutory provisions, the effectiveness of the Terms of Use shall remain unaffected. The invalid provision shall be mutually replaced by the Contracting Parties by a provision which comes as close as possible to the economic purpose of the invalid provision in a legally effective manner. The above provision applies in case of loopholes accordingly.

Status: May 2017

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