- When these terms apply
- Information about us
- Information about you
- Information about the account
- Important warnings about using the Account Services
- Who can use the Account Services?
- Verifying your identity
- Money laundering
- Topping up your W1TTY Account
- Holding amounts in your W1TTY Account
- Sending money from your W1TTY Account in other currencies
- Making payments from your W1TTY Account
- Open banking
- Security, and responsibility for unauthorised transactions or errors
- Rules of Acceptable use of the Account Services
- Ending our relationship and closing your W1TTY Account
- Our responsibility to you
- Changes to these W1TTY Account Terms
- Contacting you
- Documents that apply to our relationship with you
- Resolving disputes
- Contact us
W1TTY Global Ltd ("W1TTY", "we", "our" or "us") operates a platform accessible through the W1TTY application, which is available for download on your mobile device (the "W1TTY App"), that allows users to view the balance of, and carry out and manage transactions conducted through their electronic account (collectively, the "W1TTY Service").
2.1 These terms apply to your use of the electronic account that we make available to you through the W1TTY Service (your "W1TTY Account"), including when you make payments or withdraw funds from your W1TTY Account (together, the "Account Services").
2.2 This document and any documents referred to within it (the "W1TTY Account Terms") set out additional terms that apply to your relationship with us when you use the Account Services through the W1TTY Service. It is important that you read and understand these Account Terms alongside the W1TTY Platform Terms of Service (here) before using the Account Services, as they form part of our agreement with you for providing you the W1TTY Service (the "Terms of Service").
2.3 These Terms of Service apply to you if you are accessing the W1TTY Service from the United Kingdom. If you are accessing the W1TTY Service from any country within European Economic Area please visit our terms that apply to your use of the W1TTY Service for your specific country, links to which can be found here.
2.4 We will ask you to agree to the Terms of Service, including these W1TTY Account Terms, when you set up a W1TTY Account. If you do not agree to these W1TTY Account Terms, please do not open a W1TTY Account or use the Account Services.
The Account Services are provided by W1TTY Global Ltd, a company registered in England under company registration number 12810623 and with its registered office at 9th Floor 107 Cheapside, London, United Kingdom, EC2V 6DN. W1TTY is authorised by the UK Financial Conduct Authority (UK FCA) for the issuance of e-money, having UK FCA firm registration number 932839.
5.1 The W1TTY Account is a virtual electronic money, or e-money account. E-money is an electronic alternative to cash. You are able to transfer money to your W1TTY Account and we'll issue the equivalent value of e-money to you. You can then use the Account Services to:
(a) View your W1TTY Account and manage your money;
(b) Send money to other W1TTY accounts;
(c) Send money to third party accounts; and
(d) Send money in other currencies.
6.1 We will need to conduct certain checks to verify your identity in order for you to use the Account Services. We may also conduct further identity checks from time to time during the course of your use of the Account Services. We may refuse to provide (or, where applicable, continue to provide) you with the Account Services if we are unable to do this.
6.2 We may monitor transactions made using the Account Services for suspicious activity and fraud. If we suspect that you are using the Account Services in an unlawful manner or in breach of these W1TTY Account Terms, we may immediately end or suspend your use of the Account Services.
6.3 You are responsible for ensuring that any security credentials you use to access the Account Services, and any device from which you access the Account Services, are secure. This includes keeping any operating systems and antivirus software up to date, using strong PIN or passwords to secure your device, and not accessing the Account Services from a device that has been "jailbroken", "cracked", "rooted" or otherwise had restrictions in the software removed.
6.4 We may from time to time update the W1TTY App to update or introduce new security features. You should make sure that you download and always use the most recent version of the W1TTY App to help keep your W1TTY Account safe.
6.5 If you believe that there has been an unauthorised transaction from your W1TTY Account, you must immediately inform us and in any event within 13 months of the date of the transaction. We will not be responsible to you for any losses you suffer if you fail to notify us of any such transaction within this time frame, or if you have otherwise not complied with these W1TTY Account Terms.
6.6 All transactions that you make through the Account Services are subject to certain limits. These limits may change over time - please see the Fees and Limits page (here) for information about the current limits applicable to the Account Services.
6.7 The Account Services are only available to residents of the United Kingdom and European Economic Area.
6.8 Any amounts held in your W1TTY Account will not accrue interest or any other benefits.
6.9 Please note that any value stored in your W1TTY Account is not covered by any statutory protections afforded to banks, such as that under the UK Financial Services Compensation Scheme. We protect your funds by putting them in a separate safeguarding account with a bank. This means that, if we go out of business, you should get most of your money back, although some costs will be taken by the administrator or liquidator of W1TTY. It could also take longer for you to be refunded than it would with a bank. You should seek legal advice if you are unsure of or would like further information about whether or not your money is appropriately protected to meet your individual requirements.
7.1 In order to use the Account Services, you must:
(a) be 18 years or older and legally capable in your country of residence of entering into a legally binding agreement;
(b) be resident in the UK;
(c) have responded to our requests to verify your identity and been approved by us in accordance with these W1TTY Account Terms;
(d) have subscribed to use the W1TTY Service in accordance with the W1TTY Platform Terms (here); and
(e) not have been banned or suspended by us from using the W1TTY Service or the Account Services.
7.2 Your W1TTY Account is personal to you, and you are not allowed to give anyone else the right to use the Account Services or access your W1TTY Account on your behalf.
8.1 We will need to verify your identity in order for you to use the Account Services. This is known as "Know Your Customer" or "KYC", which we are required to do by law when providing the Account Services.
8.2 We may ask you to provide certain information to help us verify your identity. You must ensure that any information you provide is accurate, as we will not be responsible to you if we are unable to verify your identity because of any errors or omissions in the information you have provided to us.
8.3 Your identity may be subject to verification including, but not limited to, validation against third party databases or the verification of one or more official government or legal documents that confirm your identity and your place of residence.
8.4 Some of the searches which we or a third party may perform on our behalf, such as a credit check, may leave a soft footprint on your credit history. This will not affect your credit rating.
8.5 We may ask you to provide updated information and supporting documents at least once a year in order to continue providing you with the Account Services.
8.6 We may refuse to provide, or (where applicable) continue to provide you with some or all of the Account Services if we are unable to verify your identity.
9.1 W1TTY is committed to preventing money laundering and any activity that facilitates money laundering, financing terrorism or any other criminal activity. We may therefore, from time to time:
(a) conduct enhanced or periodic identity checks where we suspect that any unlawful activity may have taken place, or as part of our ongoing risk management procedures;
(b) monitor your use of the Account Services to identify any suspicious transactions, including unusual transaction sizes, volumes or patterns; and
(c) report any suspicious activity to local regulators, enforcement bodies and other compliance bodies.
9.2 We may refuse to provide you with all or some of the Account Services if:
(a) we are unable to complete any diligence checks on you;
(b) we have previously identified you as an individual engaged in suspicious activity;
(c) you are trying to access the Account Services from a country considered to be exposed to a high risk of money laundering or financing terrorism;
(d) you are a politically exposed person, or are a family member or known close associate of a politically exposed person;
(e) you are listed on a sanctions list in any of the jurisdictions in which we provide the Account Services; or
(f) we otherwise identify you as an individual exposed to a high risk of money laundering or financing terrorism.
9.3 We may also suspend or terminate your access to your W1TTY Account and the Account Services if:
(a) we are unable to verify that the source of any funds you receive in your W1TTY Account is legitimate; or
(b) we suspect that you have engaged in any unlawful activity; or
(c) you do not provide us with further information about you or the source of any funds in your W1TTY Account that we may request from time to time.
9.4 We may suspend or end the provision of any Account Services to you at any time if we suspect that you are using the Account Services in an unlawful manner.
10.1 In order to top up the balance of your W1TTY Account, you will need to do one of the following:
(a) Make a payment using a debit card. By submitting your credit or debit card details to us and asking us to debit this card to top up your W1TTY Account using the Account Services, you confirm that the payment details you have provided to us are valid and correct.
(b) Make a bank transfer. We will provide you with details of the bank account to which you can make a payment in order to top up your W1TTY Account, and the currency in which that bank account accepts payments. You are responsible for ensuring that you enter the details of this bank account correctly when you initiate a transfer. You will also be responsible for any charges imposed by your bank for making the transfer.
(c) W1TTY to W1TTY Payments. You can receive a payment from another W1TTY Account holder to top up your W1TTY Account.
10.2 Subject to paragraphs 3, 10.4 and 10.5, we will credit your W1TTY Account with electronic money equivalent in value to the amount we receive from you when you pay us by credit or debit card or execute a bank transfer as soon as possible after we have received payment. We will safeguard any funds you transfer to us when you top up your W1TTY Account in segregated accounts in accordance with our regulatory requirements. This safeguarding is intended to protect your rights in respect of the funds held in the W1TTY Account in the event we go insolvent.
10.3 We may refuse to process any payment that you make from a card or bank account that is not in your name.
10.4 Where you make a payment by bank transfer in a currency different to the one specified to you on the W1TTY Service when you use the Account Services to top up your W1TTY Account (the "Top-Up Currency"), your payment will be converted into the Top-Up Currency by us at the rate published (here) or by the rate given by correspondent bank or third party provider at the moment of conversion, and we will credit this converted amount to your W1TTY Account.
10.5 Exchange rates may fluctuate rapidly, particularly with more volatile currencies, and so, when you make a transfer to your W1TTY Account that requires a currency conversion, there is no guarantee that the amount credited to your W1TTY Account will reflect the currency conversion rates published on the Account Services at the time you initiate the transfer, as there may be a delay between you initiating the transfer and the conversion to your Top-Up Currency (such as where you initiate a transfer on a day that is not a business day). Your bank may also apply additional fees to transactions in different currencies. We will not be responsible to you for any additional fees imposed by your bank or losses you suffer as a result of any changes in the exchange rate if you top up your W1TTY Account in a currency other than the Top-Up Currency.
The balance of your W1TTY Account is not used for investment or lending purposes and will not accrue interest. Any amounts held in your W1TTY Account are not covered by any banking protections, such as the UK Financial Services Compensation Scheme or the FDIC Deposit Insurance Scheme.
12.1 The Account Services allow you to send money in other currencies from your W1TTY Account.
12.2 The available currencies and exchange rates may vary from time to time. You can view the available currencies on the W1TTY Service, and select your target currency, when you set up a transfer from your W1TTY Account. When you submit a request to send money from your W1TTY Accountin a different currency, we will execute the transfer at the currency conversion rate displayed to you when you confirm your request and will inform you by posting a message on the W1TTY Service once we have completed the transfer.
12.3 Exchange rates can change rapidly, particularly with more volatile currencies. There is no guarantee that the value of a currency will not fall significantly. You should ensure that you check the conversion rate and the amount the recipient will receive in the target currency before you confirm your request to transfer money, particularly if you are paying a bill or an invoice issued in the target currency. . We will not be responsible to you for any losses you suffer which are caused by fluctuations in the value of any currencies in which you transfer money.
12.4 The amount that you can exchange may be subject to a daily limit. Please refer to our "Fees and Limits" page on the W1TTY Service (here) for information on the limits applicable to currency exchanges from time to time.
13.1 You can make payments from your W1TTY Account through the applicable functionalities on the W1TTY Service.
13.2 To confirm a transaction, we may ask you to enter security details including your security credentials (password or passcode), biometrics linked to your device (for example fingerprint of facial recognition) or by confirming via a link sent to your mobile number or email address.
13.3 We will execute any payments you make from your W1TTY Account unless:
(a) you fail to provide us with valid or sufficient information about the recipient, such as their name, bank account and sort code;
(b) you fail to provide any security credentials we request from you in order to verify the payment;
(c) the balance of your W1TTY Account is insufficient to satisfy the payment request and any fees payable in respect of that transaction;
(d) we believe the payment request is fraudulent or illegal; or
(e) we are prohibited from executing the payment by applicable law.
13.4 Unless we are prohibited from doing so by applicable law or court order, we will inform you if we refuse or are otherwise unable to execute your payment request.
13.5 You can submit payment requests to us at any time. However, other than any instructions you submit to us to pay amounts to another W1TTY Account, any payment request that you submit to us outside of business hours (meaning between 9 am and 5 pm, Monday to Friday, other than public holidays) will be actioned by us on the following business day.
13.6 If you ask us to make a payment at a specified future date, rather than immediately, we will action this request on your requested date, unless the date requested is not a business day in England (in which case we will do so on the next business day) or you cancel your payment instruction before that date. You will be able to cancel a payment instruction for a specified future date prior to that requested date using the applicable functionality on the W1TTY Service.
13.7 You should check to make sure that the details you submit with your payment request, such as the amount of the payment and information about the recipient's bank account, are correct before authorising a payment from your W1TTY Account. Other than payments you instruct us to make at a specific future date, or any unauthorised transactions or errors, any payment request that you submit to us cannot be cancelled or reversed. We will not be responsible to you for any transactions where you have provided us with incorrect details, and we have executed the transaction correctly using those details. In cases where you have provided us with incorrect details of the recipient, we may make reasonable efforts to recover funds, although we may charge you for any fees related to such recovery.
13.8 Payments that you make from your W1TTY Account are subject to daily limits and may be subject to processing fees and charges. These fees and limits are set out at on the Fees and Limits page (here).
13.9 Once we receive and process your payment instruction, unless we are prohibited from effecting payment by applicable law or refuse to do so in accordance with these W1TTY Account Terms, your payment shall be completed and be credited to the recipient's account within the following timeframes:
(a) payments to another W1TTY Account within the UK will be completed within a few minutes;
(b) payments to an account within the UK will be completed within 2 hours;
(c) payments in Euros to an account in the European Economic Area will be completed within 2 hours;
(d) payments not in Euros to an account in the European Economic Area will be completed within 48 hours;
(e) payments to recipients outside the European Economic Area will be completed within 96 hours.
14.1 You may allow other providers to access your W1TTY Account using "open banking". These open banking providers must be authorised with the UK FCA to provide these services. You can ask any open banking provider to provide details of their authorisation.
14.2 Where you use open banking to access your W1TTY Account these terms still apply to you.
14.3 We may block an open banking provider from accessing your W1TTY Account where we are concerned they are acting fraudulently, don't have authorisation from you to access your account, or are required to for legal or regulatory reasons. Where we do this, we will inform you that we have done so and the reasons for doing so, where this is possible. Where these issues are resolved, we will unblock the open banking provider.
14.4 You may also block an open banking provider by contacting us through the chat function in the W1TTY App or by contacting us at w1tty.com/help.
15.1 You should always keep secret any security credentials that you use to access the W1TTY Service or your W1TTY Account. You should also ensure that any device from which you access the Account Services is secure. This includes keeping any operating systems and antivirus software up to date, using strong PIN or passwords to secure your device, and not accessing the Account Services from a device that has been "jailbroken", "cracked", "rooted" or otherwise had restrictions in the software removed.
15.2 If you think that your security credentials may have been lost or stolen, you should inform us immediately by contacting us through the functionality on the W1TTY App or through our website at w1tty.com/help. If you fail to do so, we will not be responsible to you for any unauthorised transactions undertaken from your W1TTY Account.
15.3 Where any transaction or action has been taken through your W1TTY Account but not authorised by you, or where an error has occurred, you must inform us as soon as possible.
15.4 If you let us know as soon as possible after noticing an unauthorised transaction, and in any event within 13 months from when the money was taken from your account, we will pay back the money into your account and any charges you occurred by having that money taken out if:
(a) you couldn't have known your security details were at risk, or the payment was taken after you had informed us your security details may have been compromised;
(b) the mistake was due to us or someone under our responsibility;
(c) we didn't fulfil our regulatory obligations regarding the transaction; or
(d) we have a legal obligation to return the money.
15.5 If you fail to notify us promptly upon noticing that an error or unauthorised transaction has occurred, or notify us after 13 months of the date of the unauthorised transaction or error, you will lose your entitlement to a refund in connection with the unauthorised transaction or error.
15.6 You will, however, be responsible for any losses you suffer as a result of unauthorised use of your W1TTY Account where this has happened because you have acted fraudulently, have failed to keep your security details safe (either intentionally or carelessly), or have otherwise failed to comply with these W1TTY Account Terms
15.7 We may also proactively freeze, block or suspend your W1TTY Account if we notice that there have been unusual transactions on your account or are concerned about the safety of your W1TTY Account. If we are able to under applicable legislation, we will notify you as soon as possible after we have frozen, blocked or suspended your W1TTY Account to inform you why we have done so and the steps you should take to re-activate your W1TTY Account.
16.1 You do not have to pay to set up a W1TTY Account. However, certain transactions that you make through using the Account Services will incur fees as set out at on the Fees and Limits page (here), which will be deducted from the balance of your W1TTY Account. If the balance of your W1TTY Account is insufficient to pay the corresponding fees and carry out the transaction, the transaction may be declined.
16.2 We may, from time to time, revise the fees that we charge you for using the Account Services. If we do so, we will notify you at least two (2) months in advance of the effective date of the increase.
17.1 In addition to the other requirements within these W1TTY Account Terms, this section describes specific rules that apply to your use of the Account Services (the "Account Rules of Acceptable Use").
17.2 When using the Account Services you must not:
(a) use the Account Services for forex trading or arbitrage;
(b) circumvent, disable or otherwise interfere with any security related features of the Account Services;
(c) use the Account Services if we have suspended or banned you from using it;
(d) advocate, promote or engage in any illegal or unlawful conduct, including any criminal activity, fraud or money laundering, or conduct that causes damage or injury to any person or property; or
(e) allow anyone else to access to or use your W1TTY Account.
17.3 We may monitor the transactions you execute through the Account Services to ensure that you comply with the Account Rules of Acceptable Use.
17.4 Failure to comply with the Account Rules of Acceptable Use constitutes a serious breach of these W1TTY Account Terms, and may result in our taking all or any of the following actions (with or without notice):
(a) immediate, temporary or permanent withdrawal of your access to your W1TTY Account, your right to use the Account Services and/or the W1TTY Service;
(b) issuing of a warning to you;
(c) legal action against you including proceedings for reimbursement of all costs (including, but not limited to, reasonable administrative and legal costs) resulting from the breach; or
(d) disclosure of such information to law enforcement authorities as we reasonably feel is necessary.
17.5 The responses described in paragraph 18.4 are not limited, and we may take any other action we reasonably deem appropriate.
18.1 If you would like to end your use of the Account Services and to close your W1TTY Account, you can do so using the applicable functionality in the W1TTY App or through our website at w1tty.com. We will ask you to tell us where you would like to transfer any amounts held in your W1TTY Account on the date you ask us to close your W1TTY Account.
18.2 Any instruction provided to us more than 1 year after the close of your W1TTY Account may incur a fee. This will be set out on the Fees and Limits page (here). If you have not provided us an instruction on where to transfer the amounts within the 6 years after your W1TTY Account was closed, you may not be able to redeem the money.
18.3 While there is no fee for closing your account, where you owe us money will we deduct this amount from the amounts transferred on the close of your accounts.
18.4 In addition to any rights to terminate or suspend your use of the W1TTY Service in the Platform Terms (here), we may immediately end your use of the Account Services and the W1TTY Service if:
(a) you break the Account Rules of Acceptable Use;
(b) we are unable to complete any diligence checks on you, the transactions you make using the Account Services, or if we otherwise suspect that you are using the Account Services in an unlawful manner;
(c) you fail to maintain a positive or zero balance on your W1TTY Account; or
(d) you break any other important rule(s), or terms and conditions we set for accessing and using the Account Services including these W1TTY Account Terms.
18.5 We may terminate your right to access the W1TTY Service or the Account Service for any other reason by giving 2 months' prior notice.
18.6 If you or we terminate your right to access the W1TTY Service or the Account Services, you will lose your ability to access and initiate transactions through your W1TTY Account. If we terminate your right to access the W1TTY Service or the Account Services, we will ask you, within a reasonable time frame, to withdraw any balance held in your W1TTY Account at the time of account closure. If you do not, you will be able to withdraw this balance for six years from the time you end your use of the Account Services by contacting us at w1tty.com/help.
19.1 Other than our responsibility to you to execute payment transactions in accordance with these W1TTY Account Terms or block your W1TTY Account when you have told us that your security details have been lost, stolen or otherwise compromised, our responsibility to you for any claim arising with respect to your use of the Account Services will be limited to any amounts you have paid us in the 12 months preceding your claim. If you have not paid us anything, we shall not be responsible to you for any claim arising out of the provision of the Account Services.
19.2 In every case, we will never be responsible for any loss or damage that is not reasonably foreseeable, or that is caused by a failure by you to comply with these W1TTY Account Terms. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time you started using the Account Services, both we and you knew it might happen.
20.1 We may revise these W1TTY Account Terms from time to time but the most current version will always be available (here).
20.2 Changes will usually occur because of new features being added to the Account Services, changes in the law or where we need to clarify our position on something.
20.3 Where possible, we will notify you at least 2 months in advance of the date of these changes. If you do not agree to the changes, you must stop using the W1TTY Account before the planned commencement date of the new changes. Continuing to use your W1TTY Account after that date means that you accept our new changes.
20.4 However, sometimes changes will need to be made immediately and if this happens, we will not give you any notice. This may happen when we are required to make changes by law, or where we make minor changes to these W1TTY Account Terms that do not impact your rights and remedies or our obligations. When such changes occur, we will notify you as soon as reasonably practicable.
21.1 If we need to contact you, we will do so by secure message on the W1TTY App or by text message or email to the number and address you have registered with us. Please make sure you regularly check the W1TTY App, texts and email account.
21.2 Please ensure the details you have registered with us are up to date, and notify us of any changes. We may, from time to time, request additional information from you. Please provide this as soon as possible to avoid any disruption to your W1TTY Account.
21.3 All communications will be in English.
22.1 The current version of the W1TTY Account Terms contains the only terms and conditions that apply to our relationship with you with respect to your use of the Account Services and your W1TTY Account.
22.2 You can ask for a copy of these terms and conditions through the chat function on the W1TTY App. Alternatively, you can download the current terms and conditions at any time from our website (here) or by going to the "My Details" section of the W1TTY App.
22.3 We intend to rely on these W1TTY Account Terms as setting out the written terms of our agreement with you for the provision of the Account Services. If part of the W1TTY Account Terms cannot be enforced then the remainder of the W1TTY Account Terms will still apply to our relationship.
22.4 If you do not comply with these W1TTY Account Terms and we do not take action immediately, this does not mean we have given up any right we have and we may still take action in the future.
23.1 If you have a dispute with us relating to the Account Services, in the first instance please contact us through the chat function in the W1TTY App or by contacting us at w1tty.com/help and attempt to resolve the dispute with us informally.
23.2 In the unlikely event that we have not been able to resolve a dispute informally, you can submit a formal complaint to us as set out in our complaints procedure, which is available at [https://legal.w1tty.com/uk-complaints].
23.3 We will respond to any complaint within 15 business days, unless we are prevented from doing so by reasons outside of our control. We will inform you if we are unable to respond within this time frame, along with the reasons for the delay.
23.4 If we fail to respond to you within 15 business days and do not inform you of the reasons for our delay, or if we do not provide you with a final response within 35 business days from the date we received your complaint, you can make a complaint to the Financial Ombudsman's Office. You can also do this if you are not satisfied with the way we have dealt with your complaint.
23.5 You can contact the Financial Ombudsman's Office by calling them between 8AM and 5PM (UK time), Monday to Friday on 0800 023 4567 or by submitting form online here.
24.1 If you need to contact us in relation to these W1TTY Account Terms or any other document mentioned in them, please email us at email@example.com. If you are a W1TTY customer, you can also contact us through the chat function of the W1TTY App.
24.2 We value hearing from our users, and are always interested in learning about ways we can improve the Account Services. By providing your feedback you agree that you are giving up any rights you have in your feedback so that we may use and allow others to use it without any restriction and without any payment to you.