1.1 The Andaria End Client Terms and Conditions (the “Terms”) shall govern the relationship between you (the “Client”, “you”, “your”) and Andaria Financial Services UK Limited (“Andaria”). Andaria Financial Services UK Limited (Company number 12840774) is authorised by the Financial Conduct Authority (‘FCA’) to carry on electronic money activities under the Electronic Money Regulations 2011. Andaria’s registered Office is at Registered office: International House, 36-38 Cornhill, London EC3V 3NG, United Kingdom.

1.2 These Terms shall set out the terms and conditions that apply to your Account and any other associated services provided to you by Andaria.

1.3 These Terms shall not govern your relationship with Paystro (the “Partner”). Your relationship with Paystro shall be governed by separate terms and conditions.

1.4 The Andaria services shall be made available to you via the Paystro Application (the “App” or “Application”). Andaria and Paystro are separate companies that collaborate in order for Andaria to provide you with the Products and Services. The Services, as governed by these Terms are solely provided by Andaria and not Paystro. Paystro is a technical service provider and not an agent or distributor of Andaria.

1.5 These Terms constitute a legal agreement between you and Andaria Financial Services UK Limited.

1.6 By accepting these Terms, you confirm that:
1.6.1 You have read the Terms and all documents forming part of the Terms;
1.6.2 You are not a legal entity or are using the Accounts for business purposes;
1.6.3 You agree with the Terms and all documents forming part of the Terms;
1.6.4 You have read our Privacy Policy and you agree with the collection, processing and sharing of your personal data as explained in the referred Policy.

The value stored on your Accounts is electronic money, otherwise referred to as ‘e-money’. Andaria is not a bank and your Account is not a bank account. In order to use the Andaria Account, you will need to have a sufficient balance in your account.

Your Account
Your Account is a virtual IBAN that holds electronic money.

You can use your Andaria Account via the App to:
i. Send or receive money; and
ii. Change money from one currency to another.

Money held in your Andaria Accounts are not considered to be deposits and therefore are not covered by any depositor compensation scheme. No other compensation schemes exist to cover losses claimed in connection with your Andaria Accounts. The funds corresponding to Electronic Money will be held in one or more segregated bank accounts separately from Andaria’s own funds.

Andaria protects your funds through a process known as ‘safeguarding’, in line with its regulatory requirements. In this process, Andaria keeps your money separate from its own funds and places it in a safeguarding account with a bank or cover it by an insurance policy or a comparable guarantee.

In the event that Andaria becomes insolvent, you would be paid your balance from client money accounts we hold with banks. Such a process would not be handled by Andaria but by a liquidator.

Before we provide any of our Services to you, you will have to successfully complete our process for verifying your identity. The process shall involve you providing Andaria with your valid passport and/or ID card and a bank statement or other identification documents, together with the presented identity document in real time, or any other procedure we may specify. We may use ID verification agencies or other automated platforms to verify your identity.

These Terms will only become effective once you receive a confirmation from Andaria or Paystro that your application has been approved and you have access to the Services. Andaria is not obliged to provide you with any services under these Terms before such confirmation is provided.

Andaria may refuse to approve any application and/or provide you with the Services for any reason, which reason Andaria shall not be required to disclose.

You must immediately notify Andaria and Paystro via the App or Customer Support if:
i. you believe there has been unauthorised use of your Account, or
ii. anyone else may be able to use or access your Account, or
iii. you lost security details to access them.

Andaria will make all reasonable efforts to stop the use of the Account by blocking the Account payments after receiving a notification from you.

Andaria may restrict, block, close and/or deactivate the Account without prior notice to you if:
i. Andaria is concerned about the security of the Account or the security details relating to them;
ii. Andaria becomes aware or suspects that the Account or security details relating to it are being used in an unauthorised, unlawful or fraudulent manner;
iii. Andaria reasonably believes it needs to do so to comply with the laws, regulations or court order in any applicable jurisdiction or any other rule or duty applicable to Andaria;
iv. these Terms are terminated for any reason;
v. you request us to do so;
vi. if your relationship with Paystro is terminated for whatever reason; or
vii. you have breached these Terms.

Andaria or Paystro will, if possible, notify you before restricting, blocking or deactivating your Account. If we are unable to notify you beforehand, we will notify you immediately afterwards. We will not notify you if doing so would compromise our security measures or would be unlawful. Your Account will be unblocked or re-activated as soon as possible after the reasons for blocking cease to exist. Andaria shall not be responsible or liable for any damages caused or resulting from Andaria or Paystro blocking your access for any reason to the Application and the Services.

For a payment from your Account (including transfers to your other Accounts) to be properly executed, you must provide Andaria with accurate information when you instruct us to make the payment, including but not limited to the recipient’s (beneficiary) name, IBAN, the payment amount, its currency and reason for payment, account number, the payment amount and sort code and a payment reference.

Andaria will ensure that instructions are executed as soon as reasonably possible, but in no particular order. The execution and processing period of outward payments may vary, depending on the payment system through which Andaria executes such payment. Andaria shall not be responsible for any losses or damages resulting from any delay in the processing and settlement of an outward payment.

Andaria reserves the right to change, suspend or discontinue any aspect of the Services at any time, including hours of operation or availability of the Services without notice and without liability.

You may not assign, transfer or dispose of or grant security over any of your rights and obligations under these Terms without Andaria’s prior written consent. Andaria may assign or transfer any of its functions under these Terms to a third party, by providing you with a written notice of such assignment.

To open an Andaria Account you must be:
i. 18 years of age or over; and
ii. A resident of the United Kingdom.

Since you’re only allowed to use your account for personal use, Andaria shall not be responsible to you for any loss of profit, loss of business, business interruption, or loss of business opportunity. This applies to you using your account for personal use, as well as if you wrongly use it for commercial or business purposes.

None of these terms affect your legal rights as a consumer. You can find more information on the Competition and Markets Authority’s or Financial Ombudsman Service’s websites. These terms don’t exclude or limit our liability to you where it’s against the law for us to do so.

We’re responsible to you for any foreseeable loss and damage which we cause. When we say ‘foreseeable’, this means we could or should have expected those losses. This includes if we breach the terms of this contract or fail to use reasonable care or skill providing services to you.

Andaria will refund any money you lose due to a mistake of Andaria.

Andaria will not be responsible or liable and you won’t be able to claim back money in the following scenarios:
i. you gave Andaria incorrect instructions or Andaria can prove that the recipient of your payment actually received the payment;
ii. you purposefully didn’t keep your phone, or security details safe, you were very negligent in not keeping them safe, you gave them to someone else, or your account is overdrawn;
iii. you acted fraudulently.

Andaria shall not be responsible for any loss or damage (direct or indirect) caused by something beyond our reasonable control, including:
i. hardware breakdowns
ii. actions or decisions taken to comply with legal or regulatory requirements
iii. delays or failures caused by third party
iv. problems with a third party (including Paystro and the App) service, system or network (including power outages);
v. data-processing failures.

Andaria shall not be responsible for any loss or damage (direct and indirect) if something was unavoidable despite Andaria using reasonable care and skill to avoid it. You won’t be able to claim back money you lost if your losses resulted from circumstances that we couldn’t or shouldn’t have been expected to know about.

It is important that you provide Andaria with the necessary information, which will enable us to provide you with the Services. You will provide Andaria with all information that Andaria considers necessary for opening and maintaining an Account.

You agree to provide Andaria with correct, accurate, up-to-date and truthful information. You must notify Andaria immediately of any changes in circumstances which might cause the information previously provided to become incomplete or inaccurate.

Andaria will not be responsible for any losses shall bear any losses that occur due to the submission of invalid, incorrect or inaccurate information or you not keeping Andaria informed of any changes to your information.

You are also required to read this document, together with any other documentation provided at Account opening stage before signing it off and reach out to us should any of the information contained herein be unclear or should you require further information on the matter.

After Andaria receives a request to enter into a payment transaction, Andaria (directly or indirectly via Paystro) shall provide you with the following information:
i. a reference enabling you to identify the Payment Transaction and, where appropriate, information relating to the beneficiary;
ii. the amount of the payment transaction in the currency used;
iii. the amount of the charges and transfer fees for the payment transaction payable by you (with a breakdown of such amounts where applicable);
iv. where applicable, the exchange rate used in the payment transaction and the amount of the payment transaction after that currency conversion; and
v. the date of receipt by us of your request to enter into the payment Transaction.

Andaria is entitled to impose fees and charges for the Andaria Services. The fees and charges are exhibited on the Paystro App or Website. The Fees and Charges may be amended by Andaria unilaterally from time to time.

Andaria is also entitled to pass through your Account third-party charges incurred in the execution of our Services including inward and outward payments.

These Terms shall remain effective until you or Andaria terminate them. You can close your Account at any other time however you will need to repay any money you owe Andaria before your account can be closed.

Andaria can close your Account by giving you at least two months’ notice. Andaria is not obliged to give you a reason for closing your Account.

In certain circumstances, Andaria may close your account immediately or stop you from using your Account, including if:
i. You have broken any laws or regulations (or attempted to) or the Terms;
ii. If required from a regulator, law enforcement agency or government body;
iii. You have given Andaria false or incomplete information;
iv. You had a change in circumstances which means you’re no longer eligible for a current account (like moving abroad);
v. You have given a third party control of your security credentials, Account or phone (unless you’ve formally agreed this with us or are legally allowed to);
vi. Andaria or Paystro terminates their respective relationship with You;
vii. If you do not pay applicable Fees and Charges.

You agree to keep your password in a safe and protected place to prevent unauthorised use of your Account. Andaria shall not be responsible for any losses or damages resulting from your lack of proper safekeeping of your password.

You cannot use your Andaria account in the following ways, either directly or indirectly:
i. for illegal purposes (for example, committing fraud);
ii. in a way that we reasonably believe might harm our ability to provide our services;
iii. to control or use an Andaria account that’s not yours;
iv. to allow anyone else to have access to or use your Account;
v. to hold funds on behalf of third-parties.

Andaria must refuse to make a payment or delay a payment (including inbound and outbound payments) in the following circumstances:
i. if legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks;
ii. if you have broken these terms and conditions in a way that we reasonably believe justifies us refusing or delaying your payment;
iii. if we believe that processing your instruction would break these terms and conditions or that your instruction doesn't contain all the information we need to make the payment properly;
iv. if the amount is over, or would take you over, any limit that applies to your account;
v. if there is not enough money available in your account to make the payment and cover any charge;
vi. if a bankruptcy order is made against you or you've entered into an individual voluntary arrangement with your creditors;
vii. if, even after doing everything reasonably possible, we won't be able to make the payment on time;
viii. if a third party prevents us from making the payment;
ix. if you owe us money or we intend to exercise our right of set-off;
x. if we have asked you for important information we reasonably need and you have not given us that information;
xi. if we believe or suspect instances of fraud, money laundering or funding of terrorism or any other situation giving rise to compliance concerns; or
xii. if we have suspended your account.

Andaria or Paystro will always try to notify you if a payment has been refused. Andaria shall not be responsible for any losses you suffer as a result of us refusing or delaying a payment.

Andaria can make changes from time to time to these Terms including to the Fees and Charges by providing you with a two months’ notice. We may make these changes because of changes to:
i. law, regulation, directivesindustry codes or Financial Ombudsman, court or regulator decisions
ii. the cost of providing your account and running our business, for example a change in our cost of funding, technology (including our systems) and service costs
iii. the banking or financial services system; or
iv. we decide that our business needs to change so we can offer products and services in a different way.

Andaria can make favourable changes to these terms and charges for any reason. We can also make proportionate changes for any other balanced and valid reason that impacts us or your account.

If we make changes that are clearly in your favour, or are required by law or regulation, we’ll tell you once we’ve made them. Otherwise we’ll give you two months’ notice.

If any action results in a negative balance in your Account, you must reimburse Andaria the amount of the negative balance immediately. Andaria may charge the amount of the negative balance against the funds on any other Accounts held by you, including any subsequently loaded funds. Andaria may suspend Accounts until it is reimbursed for the negative balance in full and may take legal action against you to recover such amount.

You must notify Andaria in writing of any unauthorised or incorrectly executed payments on your Account without undue delay after becoming aware of such unauthorised or incorrectly executed payment and in any case no later than two months from the date the payment was debited to your Account. You can notify us of such unauthorised or incorrectly executed payments by contacting the Customer Support via the App. You shall be considered to be informed of an unauthorised or incorrectly executed payment as from the moment of accessing the relevant statement.

Andaria shall not be held liable for any unauthorised or incorrectly executed payment transactions where Andaria has not received a notice within two months from the date when your Account was debited.

If you notify us of an unauthorised or incorrectly executed payment in accordance with the above clause, you may be entitled to receive a refund of the funds as detailed below. Andaria will verify the authenticity of the payment, its proper recording and reporting, and whether the transaction has been affected by a technical malfunction or other defect.

In the event that Andaria establishes an unauthorised transaction and where there are no reasonable grounds for suspecting that you acted fraudulently, Andaria shall refund to you the value of the unauthorised transaction within the statutory timelines. If necessary, Andaria shall restore your Account to the status it would be if the unauthorised transaction was not effected.

If you are entitled to a refund for an incorrectly executed or unauthorised payment, Andaria will refund you as soon as possible upon receipt of your claim or any additional information we may request in order to investigate your right to a refund. However, if after we refund you, our investigation leads us to reasonably conclude that you were not entitled to the refund, we will have the right to deduct the amount of the refund from any funds on Accounts you hold with us and reserve the right to recover the value of the refunded payment by any other legal means.

However you shall bear all losses, irrespective of their amount, relating to unauthorised transactions if you have caused them by fraud or failure to perform one or more of the obligations under these Terms.

Andaria shall not be liable for any disruption or impairment of the services offered by Andaria or for disruptions or impairments of intermediary services on which Andaria relies for the performance of its obligations hereunder including Paystro and the App, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond Andaria’s reasonable control or the control of the intermediary affected. Andaria shall not be liable for any indirect or consequential losses including, but not limited to, loss of profit, loss of business and loss of reputation. Andaria shall not be liable for any losses arising from its compliance with legal and regulatory requirements.

If you have any questions or a complaint about our Agreement, Privacy Notice or services, please get in touch with us:
i. through the App;
ii. Through our website; or
iii. by email at complaints@andaria.com.

If you think that we have not dealt with a complaint to your satisfaction, or within 8 weeks, the Financial Ombudsman Service (“FOS”) may be able to help you. The FOS is an independent organisation which has been set up to help settle disputes between financial institutions and their customers. You can find out more information about their services on their website: www.financial-ombudsman.org.uk.

Andaria recognises that some Clients may be in vulnerable circumstances due to factors such as age, physical or mental health conditions, disability, life events, financial distress, or other personal circumstances.

We are committed to treating vulnerable Clients with empathy, understanding, and fairness. We will take all reasonable steps to identify and support Clients who may be vulnerable and ensure that they are provided with appropriate services and protection. If you believe that you or someone you are acting on behalf of may be a vulnerable customer, we encourage you to inform us as soon as possible. This will enable us to take your specific circumstances into account and provide you with the necessary support.

For more information, please visit our website.

We are committed to safeguard the confidentiality and privacy of your personal data. Any processing of personal data is done strictly in compliance with the Data Protection Act 2018 (‘UK GDPR’) or any other applicable data protection legislation in force and in accordance with our Privacy Notice.

Andaria collects and retains your personal information to deliver the Services linked to it and deal with any enquiries that you may have about it. Andaria is the data controller of the personal information.

If Andaria uses a third party to provide a part of the Services then that provider will be the owner and controller of the personal information they require to collect in order to operate the relevant service. The use of personal information by third-party service providers will be set out in their service terms and conditions of use. Andaria will, at such third-party provider’s direction, process personal data on its behalf, for example, to enable Andaria to provide Customer Services to you.

Andaria processes personal information in accordance with relevant laws on the protection of personal data.

Your right to use the Services is strictly a personal right. The software, including the Application, remains the property of Andaria and/or Paystro, as applicable. It is strictly forbidden for any other party to use or share the software as part of, or from, another internet application or software program. The design of Andaria’s website, the text, graphics and other components of this are the property of Andaria and must under no circumstances be altered, reproduced or distributed without Andaria’s prior written consent.

The laws of England and Wales apply to these Terms. Andaria and the Client both submit to the exclusive jurisdiction of the English Courts.