Terms and Conditions

1. Introduction and Acceptance

1. Pesapeer Payments Limited is a company incorporated and licensed under the laws of England and Wales (company number 11869717), with its registered office at Milton Hall Ely Road, Milton, Cambridge, England, CB24 6WZ.
2. These Terms of Use (the Terms) is an agreement between you (in relation to your use or access the Easy Access Savings product) (the Customer, you or your), and Pesapeer Payments Limited (Pesa, we, us or our). These Terms apply to your use of the Easy Access Savings product and form part of the terms governing your use of our Services.
3. The Easy Access Savings product is made available by Pesa to eligible Customers through the Platform and is provided in conjunction with Griffin Bank Limited (Griffin), which provides the underlying banking and deposit-taking services applicable to the product. The respective roles and responsibilities of Pesa and Griffin and the Griffin Terms in relation to the Easy Access Savings product are set out here.
4. Please read these Terms and the Griffin Terms carefully. By opening, funding or otherwise using an Easy Access Savings, you confirm that you have read and understood these Terms and the Griffin Terms and agree to be bound by them. If you do not agree to any provision of these Terms or the Griffin Terms, you must not open or use an Easy Access Savings product.
5. The Griffin Terms are incorporated into and form part of these Terms, and form part of the agreement between you and Pesa in respect of the Easy Access Savings product. By accepting these terms you agree to be bound by, and to comply with, the Griffin Terms.
6. You acknowledge that you are purchasing the Griffin Services from Pesa under these Terms (the “Underlying Agreement” referred to in the Griffin Terms).
7. If there is any conflict or inconsistency between these Terms and the Griffin Terms in relation to the Griffin Services, the Griffin Terms will prevail.
8. Pesa is not Griffin's agent and has no authority to vary or waive any of the Griffin Terms, or to give any undertaking, representation or warranty about the Griffin Services on Griffin's behalf. The Griffin Terms may be changed in accordance with their terms. Nothing in these Terms limits or reduces any right of Griffin, or any obligation owed by you to Griffin, under the Griffin Terms.

2. Definition

For purposes of these Terms, the following words shall have the meanings prescribed to them as hereunder:

Account means the electronic money account held by you with us, to which your Easy Access Savings plan relates;

AML/CFT/CPF means anti money laundering, combatting the financing of terrorism and countering proliferation financing of weapons of mass destruction; 

App means Pesa's mobile application which you can download and use to access our Services, including your Easy Access Savings;

Applicable Law means the laws of England and Wales and all applicable laws, regulations, regulatory requirements, rules, codes, orders, directions and other legally binding requirements applicable to the Savings Account, the Services, the Partnership or the parties, including those issued by the Financial Conduct Authority, the Prudential Regulation Authority or any other competent regulatory authority; 

Business Day means any day (other than a Saturday, Sunday or a public holiday) on which banks are open in London for normal banking business;

Customer Services means our customer support team, contactable through the channels set out in the App and on the Website;

Easy Access Savings means the savings product made available by Pesa to eligible Customers through the Platform under which funds may be placed for savings and interest may be earned in accordance with the Applicable Product Terms;

Fees Table means the table of fees and charges applicable to the Easy Access Savings plan, as set out in the App and on the Website;

Griffin Services means the Savings Account and the other banking and deposit-taking services provided by Griffin to you under the Griffin Terms;

Griffin Terms means the terms and conditions that apply to your Savings Account with Griffin, being Griffin's Nested Customer General Terms and Conditions, Nested Customer Support Service Schedule and Nested Customer Tripartite Embedded Easy Access Savings Accounts Service Terms (together with any other documents incorporated by reference in them), available here, and as amended by Griffin from time to time in accordance with their terms;

Platform means the Pesa website, mobile application, web application, dashboard, APIs and any other digital channels or interfaces made available by Pesa from time to time through which you may access or use the Services, including Easy Access Savings;

Savings Account means the easy access savings deposit account opened with and held by Griffin for you in connection with the Easy Access Savings (referred to in the Griffin Terms as an EASA);

Savings Goal means an optional target amount and/or target date that you may set in the Easy Access Savings Plan, for your own reference;

Services means our Easy Access Savings and any related services made available by us through the App;

User Information has the meaning given in our general Terms of Use;

Website means www.pesa.co.‍

3. Eligibility

1. To open or use a Savings Plan, you must:
2. hold an Account with us in good standing;
3. be at least 18 years of age; and
4. provide such other information and documentation that we may require from time to time in accordance with AML/CFT/CPF laws and our internal risk assessment policies (and those of Griffin) and provide any additional User Information we reasonably request or Griffin reasonably requests to open or continue to offer you the Easy Access Savings plan.
5. Opening or continuing to make an Easy Access Savings product available to you is subject to both our approval and Griffin's approval, and we each reserve the right to refuse, at our discretion, to open an Easy Access Savings for you or to continue to make one available.

4. Your Savings Plan

1. Easy Access Savings is a savings product made available by Pesa to eligible Customers through the Platform, and opened with Griffin. It allows you to place funds into a savings account.
2. Funds placed into your Easy Access Savings are held and administered in accordance with the terms between us.
3. You may add funds to or withdraw funds from your Easy Access Savings, subject to any applicable minimum or maximum amounts, withdrawal conditions, processing times, eligibility requirements and other limits notified to you or set out in the Griffin Terms.
4. The interest rate applicable to your Easy Access Savings, and the manner and frequency in which interest is calculated and paid, will be communicated to you before or when you open the product and may be varied in accordance with the terms between us and Applicable Law.
5. You may close your Easy Access Savings at any time, subject to any applicable withdrawal or closure requirements. Following closure, any remaining balance will be dealt with in accordance with these terms and returned to you through the permitted withdrawal method.The availability and continued provision of Easy Access Savings is subject to your eligibility, Applicable Law, the Griffin Terms and the arrangements between Pesa and Griffin. We or Griffin may suspend, restrict or discontinue your access to Easy Access Savings where reasonably necessary to comply with Applicable Law, subject to any applicable notice or other rights, and in accordance with these terms (incorporating the Griffin Terms).

5. Interest

1. Interest may be paid by Griffin on funds held in your Easy Access Savings. The applicable interest rate will be communicated to you by us when you open your Easy Access Savings and will be made available through the App or other appropriate means.
2. If the interest rate applicable to your Easy Access Savings changes, we will notify you of any change and the date on which it takes effect.
3. Any interest payable on your Easy Access Savings may be subject to tax or other deductions as required by Applicable Law. You are responsible for any tax arising from interest earned on your Easy Access Savings, except to the extent that we or Griffin are required by law to deduct or account for such tax.

6. Funding and Withdrawing from a Savings Plan

1. You may fund your Easy Access Savings by transferring funds from your Pesa Account or through any other funding method made available by us from time to time.
2. You may withdraw funds from your Easy Access Savings at any time, subject to any applicable withdrawal limits, processing times, minimum balance requirements or other conditions applicable to the product.
3. Withdrawals will be made through the method made available by us and may be subject to verification, processing or other requirements imposed by Pesa, Griffin or Applicable Law.
4. You may view your Easy Access Savings balance, transactions and applicable interest through the Platform.
5. We may delay or refuse a funding request or withdrawal where reasonably necessary to comply with Applicable Law, regulatory requirements, fraud or financial crime controls, or the requirements of Griffin.

7. Fees

1. Opening and holding an Easy Access Savings and transferring funds into or withdrawing funds from your Easy Access Savings, is free of charge (and Griffin does not charge you for the Griffin Services) unless otherwise stated in the applicable Fees Table or otherwise notified to you in accordance with these Terms.
2. Your use of your Pesa Account, including any Transaction funded using funds withdrawn from your Easy Access Savings, remains subject to the fees and charges applicable to those Services as set out in the Fees Table and our general Terms of Use.
3. Any fees or charges applicable specifically to your Easy Access Savings will be disclosed to you before you incur them, subject to any variation permitted under these Terms, the Griffin Terms and Applicable Law

8. Changes to these Terms

1. From time to time, we may change these Terms, including to change any fee or charge applicable to Easy Access Savings, introduce a new fee or charge, or change any feature, eligibility requirement or other aspect of the Easy Access Savings product. Where required by Applicable Law, we will give you at least two (2) months’ notice before the change takes effect by making the updated Terms available through the App and Website and notifying you at the email address registered to your Account.
2. Where you close your Easy Access Savings following a change to these Terms, any remaining balance will be dealt with in accordance with the applicable withdrawal and closure procedures and returned to you through the permitted withdrawal method.

9. Contacting You

1. We will use the information you provide to us such as your address, telephone number and email address to contact you
2. You must let us know as soon as possible if you change your name, address, telephone number, or email address. If we contact, you in relation to your Account for example to notify you that we will change the Terms we will use the recent contact details you have provided to use. Ay email to you will be treated as received as soon as it is sent by use
3. We will not be held responsible to you if your contact details have changed, but you have not told us.
4. Pesa may deliver notices and other communications from Griffin under the Griffin Terms.

10. Permitted Use

1. You must use your Easy Access Savings only for lawful purposes and in accordance with these Terms, our general Terms of Use, the Applicable Product Terms and Applicable Law.
2. You must not use your Easy Access Savings to conceal, transfer, hold or otherwise deal with funds connected with fraud, money laundering, terrorist financing, sanctions evasion or any other unlawful activity.
3. You must not provide false, misleading or inaccurate information in connection with your Easy Access Savings or use the product in a manner that may facilitate fraud, financial crime or other unlawful activity.
4. Where we reasonably suspect that your Easy Access Savings is being used in breach of these Terms or Applicable Law, or in connection with fraud, financial crime or other unlawful activity, we may suspend, restrict or close your Easy Access Savings and take any other action reasonably necessary to comply with our legal, regulatory or risk management obligations. Where permitted by Applicable Law, we will notify you of any such action. Griffin may also take equivalent action in accordance with the Griffin Terms.

11. Compliance and Financial Crime Checks

1. We and Griffin may each carry out due diligence, ongoing monitoring and, where applicable, sanctions screening in connection with your Easy Access Savings, in accordance with our legal and regulatory obligations and the requirements applicable to the product. We and/or Griffin may request further information or documentation from you at any time for these purposes.
2. Where we reasonably suspect fraud, money laundering, terrorist financing, sanctions evasion or other financial crime in connection with your Easy Access Savings, we (or Griffin, in accordance with the Griffin Terms) may restrict or suspend the product, decline or delay a transfer into or withdrawal from it, or take any other action reasonably necessary for compliance, fraud prevention or risk management purposes. We may take such action without prior notice where permitted or required by Applicable Law or where providing notice could prejudice our compliance or financial crime controls.

12. Personal Data

Please see our Privacy Policy, which explains how we collect, use, disclose and otherwise process personal data in connection with your Account, Easy Access Savings and your use of our Services. The Privacy Policy is available at [●] and forms part of the information provided to you in connection with our processing of personal data. We will share your personal data with Griffin where necessary for Griffin to provide the Griffin Services. Griffin acts as an independent controller of the personal data it receives and uses in connection with the Griffin Services, and its Privacy Policy, available at https://griffin.com/privacy, explains how it collects, uses and safeguards your personal data.

13. Intellectual Property

1. All rights, title and interest in and to the Platform, and all related software, technology, content, trademarks, documentation and other materials are owned by or licensed to Pesa or its licensors.
2. Except for the limited right to access and use Easy Access Savings and the Platform in accordance with these Terms, no rights or interests in any intellectual property are transferred or granted to you. You must not copy, modify, reproduce, distribute, reverse engineer, or otherwise exploit any part of the Platform or Easy Access Savings except as expressly permitted by these Terms or Applicable Law.

14. Our Liability to You

1. Subject to these Terms, our general Terms of Use and Applicable Law, we will be responsible for loss directly caused by our breach of these Terms, negligence, fraud, gross negligence or wilful misconduct. We will not be responsible for any loss arising from your use of Easy Access Savings caused by your breach of these Terms.
2. If funds are incorrectly deducted from or credited to your Easy Access Savings as a result of an error for which we are responsible (directly or indirectly), we will take reasonable steps to correct the error and restore the affected balance, subject to Applicable Law and the arrangements applicable to the Easy Access Savings product.
3. Nothing in these Terms excludes or limits our liability for death or personal injury caused by our negligence, fraud or fraudulent misrepresentation, or any other liability that cannot lawfully be excluded or limited.
4. Griffin is responsible for providing the Griffin Services, and Griffin's liability to you in respect of the Griffin Services (including any limits and exclusions) is as set out in the Griffin Terms. Clauses 14.1 and 14.2 apply only to Pesa's own acts and omissions and to the services provided by Pesa, and nothing in these Terms creates any wider or additional liability on the part of Griffin than is set out in the Griffin Terms. Pesa is not liable for Griffin's acts or omissions in providing the Griffin Services, except to the extent that such liability arises directly or indirectly a result of Pesa’s own act or omission.

15. Cancellation, Termination and Suspension

1. You may close your Easy Access Savings at any time through the App or by contacting Customer Services. Any remaining balance will be returned to you through the applicable withdrawal method, subject to any applicable processing requirements, verification checks and Applicable Law.
2. We may close, suspend or restrict your access to Easy Access Savings by giving you reasonable notice. We may, however, do so immediately and without prior notice where we reasonably believe that:
   1. you have materially breached these Terms or the Griffin Terms or repeatedly breached any provision of these Terms or our general Terms of Use or the Griffin Terms;
   2. you have breached, or we reasonably suspect that you are breaching, Applicable Law in connection with your Easy Access Savings;
   3. you are involved in fraud, money laundering, terrorist financing, sanctions evasion or other financial crime or unlawful activity in connection with your Easy Access Savings; or
   4. we are required to do so by Applicable Law, a competent authority or the requirements applicable to the Easy Access Savings product, or where immediate action is reasonably necessary to protect the security or integrity of the Platform, your Account or our systems; or
   5. Griffin has a right to request such closure, suspension or restriction under the Griffin Terms.
3. If your Pesa Account is terminated, your access to Easy Access Savings may also be terminated, subject to the Griffin Terms and any rights or obligations that survive termination.
4. Where your Easy Access Savings is terminated, any remaining balance will be dealt with in accordance with the Applicable Product Terms and withdrawal procedures, subject to any lawful hold, restriction, deduction or other requirement applicable to the funds.
5. Griffin may suspend, restrict, withdraw or end the Griffin Services (including the Savings Account) on the grounds, and by giving the notice, set out in the Griffin Terms, and nothing in this clause 15 limits those rights. If you cease to be entitled to use the Savings Account or to receive the Griffin Services under these Terms (including where your Pesa Account is terminated or these Terms end), Griffin may end the Griffin Services in accordance with the Griffin Terms. Where the Griffin Services end, any funds held in your Savings Account will be dealt with in accordance with the Griffin Terms, including their arrangements for transferring your funds to your Pesa account or another account.‍

16. Events Beyond our Control

We will not be liable for any delay or failure to perform our obligations under these Terms to the extent that the delay or failure results from an event beyond our reasonable control, including a failure of a third-party payment, banking or telecommunications system.

17. Complaints Procedure

1. If you are dissatisfied with any aspect of your Easy Access Savings or the service provided by us in connection with it, you may submit your complaint in writing to Customer Services. We will handle your complaint in accordance with our complaints procedure, a copy of which is available from Customer Services on request.
2. We will investigate your complaint and aim to resolve it promptly. Where applicable, we will provide a final response within the timeframe required by Applicable Law.
3. Where you are eligible to refer a complaint to the Financial Ombudsman Service, you may do so in accordance with the applicable rules and eligibility requirements of the Financial Ombudsman Service.
4. If your complaint relates to the Griffin Services, Customer Services will pass it to Griffin where appropriate and Pesa will liaise with Griffin in respect of it. If, having followed our complaints procedure, your complaint relates to the Griffin Services and is not resolved to your satisfaction, you may email Griffin at customers@griffin.com, and Griffin will deal with your complaint in accordance with the Griffin Terms and its complaints procedure.
5. Customer Services is your first point of contact for support with the Easy Access Savings, including the Griffin Services. If Customer Services does not provide the support you need as required, you may escalate to Griffin's customer team at support@griffin.com.

18. General

1. You may not transfer, assign or delegate your rights or obligations under these Terms to any other person without our prior written consent.
2. We may transfer, assign or subcontract our rights and obligations under these Terms to another payment service provider, banking partner or other service provider involved in providing Easy Access Savings, without your consent, provided that this does not materially reduce your rights under these Terms. Griffin may transfer or subcontract its rights and responsibilities in accordance with the Griffin Terms.
3. If any provision of these Terms is found by a court or competent regulatory authority to be invalid, illegal or unenforceable, that provision will be treated as modified or, where necessary, removed to the minimum extent required, and the remaining provisions will continue in full force and effect.
4. These Terms are written and available in English, and all correspondence with you in connection with Easy Access Savings will be in English.
5. These Terms are governed by the laws of England and Wales, and you agree to the non-exclusive jurisdiction of the courts of England and Wales. The governing law and jurisdiction provisions of the Griffin Terms apply to the Griffin Terms.
6. Griffin may enforce any provision of these Terms that confers a benefit on it, under the Contracts (Rights of Third Parties) Act 1999. Otherwise, a person who is not a party to these Terms has no right under that Act to enforce any of their provisions. Pesa and you may vary or end these Terms without Griffin's consent, but doing so will not affect the Griffin Terms.

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