These terms and conditions apply each time the Client requests FinHub to make a payment via a bank transfer using Open Banking, called our FinHub’s FinPay Service. The Open Banking Terms and Conditions explains the rights and obligations between FinHub and the Client and forms a legally binding agreement between the Client and Client when the latter is using this payment method. The data provided to FinHub is governed by FinHub’s Privacy Policy.
With the usage FinPay Payment Service the Client agrees to these terms and conditions. If Client does not agree, then it is recommended to not use this service.
It is extremely important to be ensured that all the payment details are correct. Once Clients confirms the payment, it cannot be cancelled and FinHub may be unable to retrieve any funds sent in error.
In a case of a suspected unauthorized payment, Client must contact the respective financial institution without delay. Delayed notification could lead to liability for the entire payment amount.
- Who we are and how to contact us?
1.1 FinHub is a brand name under which are operating different companies specifically pointed out in the table below, namely:
|
Contracting Party from FinHub Group |
Contracting party’s address |
Region |
|
FinHub EAD |
16 Usta Kolyu Ficheto str., Western industrial zone, 9000 Varna, Bulgaria |
Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Montenegro, Poland, Republic of Moldova, Romania, Serbia, Slovakia, Slovenia, The Republic of North Macedonia, Ukraine |
|
FinHub D-A-CH GmbH |
Zeil 109, 60313 Frankfurt am Main, Germany |
Andorra, Austria, Belgium, France, Germany, Italy, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, Portugal, San Marino, Spain, Switzerland |
|
FinHub USA LLC |
16192 Coastal Highway, Lewes, Delaware 19958, United States |
Antigua and Barbuda, Argentina, Bahamas, Barbados, Belize, Plurinational State of Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, United States of America, Uruguay, Venezuela, Dominica, Dominican |
|
FinHub Tech UK Ltd. |
The Innovation Centre, Boundary Road, Colchester, Essex, England, CO4 3ZQ |
Denmark, Finland, Iceland, Ireland, Norway, Sweden, the United Kingdom |
|
FinHub Middle East & Africa A.S. (SEPA Middle East Teknoloji Ticaret A.S.) |
Country: Turkey, Business Address: GÜZELTEPE MAH.ÇANAKÇI SK. NO:2 İÇ KAPI /DOOR NO:4 ÜSKÜDAR |
Algeria, Angola, Armenia, Azerbaijan, Bahrain, Benin, Botswana, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Comoros, Congo, Côte d’Ivoire, Democratic Republic of the Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia, Georgia, Ghana, Guinea, Guinea-Bissau, Iraq, Israel, Jordan, Kenya, Kuwait, Lebanon, Lesotho, Liberia, Libya, |
|
FinHub APAC PTE. Ltd. |
160 ROBINSON ROAD #14-04 SINGAPORE (068914) |
Afghanistan, Australia, Bangladesh, Bhutan, Brunei, Cambodia, China, Cook Islands, Fiji, India, Indonesia, Japan, Kazakhstan, Kiribati, Kyrgyzstan, Lao People’s Democratic Republic, Malaysia, Maldives, Marshall Islands, Federated States of Micronesia, Mongolia, Nauru, Nepal, New Zealand, Niue, Pakistan, Palau, Papua New Guinea, Philippines, Republic of Korea, Samoa, Singapore, Solomon Islands, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu, Vietnam |
1.2 FinHub acts as a third-party provider to enable Client to initiate a payment directly from the Client’s account with the financial institution (“Payment Initiation Service”).
- How our FinPay Service works
2.1 As of right now FinPay Service is only available in the member states of the European Union, the United Kingdom and Switzerland. Without noticing the Clients, FinHub may add additional countries where this service is available.
2.2 When the Client requests FinHub to make a payment by bank transfer using Open Banking, Client is using FinHub’s FinPay Service. This means that when the Clients initiate a payment using FinPay Service, the Client is giving FinHub explicit consent to provide Client with the FinPay Service.
2.3 The Client will be shown a list of eligible financial institutions from which to choose to make the payment, and will be redirected to the financial institution, such as their website or app. To proceed with the payment, the Client will be required to log into account using strong customer authentication.
2.4 Once successfully logged into the account, the Client will be required to review and confirm the payment details, including:
– The payment amounts.
– The recipient details.
2.5 The Client agrees to only confirm the payment if all the payment details are correct. By confirming the payment, the Client authorizes FinHub to make the payment on Client’s behalf.
2.6 Once a payment is confirmed, it cannot be cancelled. Therefore, it is extremely to be ensured that all the payment details are accurate. If the Clients sends an incorrect amount or make a payment to the wrong recipient, FinHub will not be able to recover this and are not responsible for any losses in connection with such errors.
2.7 In a case in which FinHub may not be able to initiate or complete a payment on Client’s behalf it may be because:
a) The payment details are incomplete or incorrect. FinHub is not responsible for confirming the payment details are correct.
b) The payment amount exceeds any applicable limits.
c) FinHub has a reason to suspect that the payment may be unlawful, has been initiated fraudulently or is in breach of any other agreement the Client has with FinHub.
d) FinHub is required by applicable law and a regulation to refuse to initiate the payment.
- Unauthorized Payments
3.1 The Client must contact immediately the financial institution Client has made the payment from there is a suspicion a payment was unauthorized or incorrect.
3.2 The Client must notify the financial institution without delay and no later than 13 months from the date when the payment was initiated, and the funds were debited from Client’s account. If Client does this the latter may be entitled to a refund from the financial institution, but this would be at the discretion of the financial institution and not FinHub.
3.3 If Client fails to notify the financial institution of an incorrect or unauthorized payment the Client may be liable for the entire payment amount. Client’s rights should be set out the account terms with financial institution.
- FinHub’s responsibility for losses or damages
4.1 FinHub is 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 this agreement was entered into, both FinHub and the Client knew it might happen (for example, a specific loss was discussed during a sign-up process).
4.2 FinHub does not exclude or limit in any way its liability to the Client where it would be unlawful to do so. This includes liability for fraud or fraudulent misrepresentation.
4.3 FinHub is not liable for business losses. To the extent permissible by law, if the Client uses our FinPay Service for any commercial or business purpose FinHub will have no liability to the Client for any loss of profit, loss of business, business interruption, loss of business opportunity or similar.
4.4 We are not liable for things which are outside of our control. We cannot be liable for our inability to deliver or delay because of things which are outside our (and our affiliates) control.
- Miscellaneous
5.1 These terms are between Client and FinHub. No other person or entity shall have any rights to enforce any of its terms.
5.2 It is important that each of the articles of these terms and conditions operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining paragraphs will remain in full force and effect.