Bankzy Open Banking® End User Terms of Use

Please read these terms of service carefully and make sure you understand them before agreeing to them.

Bankzy Ltd is a company registered in England and Wales under company number 14110033, with its registered office at 30-34 North Street, Halisham, East Sussex, BN27 1DW, United Kingdom (“Bankzy“).

If you are receiving this service in the UK, Bankzy operates under licence of ‘Yapily Connect Ltd’ registration number 11598433, registered office; 2 Westland Place, London, N1 7LP.

‘Yapily Connect Ltd’ is authorised and regulated by the Financial Conduct Authority (FCA), under firm services number : 827001. Authorised by the FCA to provide account information services and payment initiation services. Acting as both an account information service provider (“AISP”) and a payment initiation service provider (“PISP”). The FCA’s address is 12 Endeavour Square, London E20 1JN, and they can be contacted on 0800 111 6768 (freephone) or 0300 500 8082 from the UK.

These terms of use together with our Privacy Policy (which can be accessed at ( ) (the “Terms“) govern the provision of the Service and access to the Solution (both, as defined below) by us to you. By clicking your acceptance to these Terms or by using the Service, you will enter into, and be bound by, these Terms. 

In these Terms, when we refer to “we“, “us” or “our“, we mean Bankzy; and when we refer to “you” or “your” we mean you as the person receiving the Service and accessing the Solution.

By accepting these Terms, you confirm you have legal capacity to enter into them. We recommend that you print a copy of these Terms for future reference. You may also request that we e-mail you a PDF of these Terms by clicking here and notifying us of the e-mail address to which you would like such e-mail to be sent.


1.1. In these Terms, the following expressions have the following meanings:

Merchant“: a merchant with whom you have entered into, or will enter into, a Merchant Agreement in respect of the Merchant Supplies and to whom you will make a payment by the use of the Service;

Merchant Agreement” means an agreement, however created or recorded, between you and a Merchant related to the provision of the Merchant Supplies;

Merchant Provider” means a person appointed by the Merchant and to whom a Bankzy Initiated Payment may be made, with such person collecting the funds on behalf of the Merchant;

Merchant Supplies” means the goods or services agreed to be provided to you by a Merchant under a Merchant Agreement;

Payment Account“: an online account which you maintain with a Payment Account Provider and which you select to make a Bankzy Initiated Payment from;

Payment Account Provider” an account servicing payment service provider (as defined in the Payment Services Regulations) providing and maintaining a Payment Account for you as a payment service user in respect of which we are able to provide Payment Initiation Services and Account Services;

Service” means a service of submitting instructions at your request to a Payment Account Provider to make a Bankzy Initiated Payment from your Payment Account to a Merchant or Merchant Provider in respect of Merchant Supplies (the “Payment Services”) and/or Account Services as defined in clause 2.3;

Solution“: means the interface, incorporated into the Merchant’s or Merchant Provider’s website, through which we will provide you with the Service;

Bankzy Initiated Payment“: as defined in clause 2.2;


2.1. These Terms set out the terms and conditions on which we will provide you with the Service.

2.2. The Service, which we provide you through the Solution, allows you to initiate payments (“Bankzy Initiated Payment“) from your Payment Account to the Merchant. You acknowledge and agree that, in respect of some Merchants, a Bankzy Initiated Payment may be made to a Merchant Provider rather than directly to the Merchant.

2.3. We also provide an account information service, allowing a Merchant to request from your Payment Account Provider, with your consent, access to some or all of your account information, including balances and transactional information (together, the “Financial Information”), on a ‘read only’ basis (“Account Services)” and in order for our Merchants to be able to provide their services to you. We provide the Financial Information to the Merchant directly, and the Merchant may choose to make some or all of the Financial Information available for you to view.

2.5. You acknowledge and agree that you will only be able to use the Service if your Payment Account Provider has been integrated into the Solution. It is entirely at our discretion which Payment Account Providers we decide to integrate into the Solution.

2.6. These Terms shall commence on the date on which you enter into them and shall remain in full force and effect until the Bankzy Initiated Payment has been made (whether successfully or unsuccessfully).



3.1. In order for you to utilise the Service in respect of any Payment Account, you represent, warrant and undertake to us that you are the lawful holder of the relevant Payment Account and have full right and to access to the relevant Payment Account and procure that we carry out the requested Service on your behalf.

3.2. In the event we become aware of any suspected or actual fraud or security threats in respect of any Payment Account in relation to the provision of the Service, we will notify you of this in the way which appears most secure to us and we may suspend your use of the Service for your own protection pending the situation being resolved. We will suspend your use of the Service where we are required to in accordance with any applicable law (including any anti-money laundering law).

Provision of the Payment Services

3.3. If you wish to make a Bankzy Initiated Payment to a Merchant via the Payment Service then you will need to confirm the following details (“Initiated Payment Details“):

3.3.1. certain details in relation to your Payment Account (including security details which your Payment Account Provider may require for the purposes of applying strong customer authentication);

3.3.2. the amount of the Bankzy Initiated Payment to be paid to the Merchant or Merchant Provider; and

3.3.3. the account details of the Merchant or the Merchant Provider.

3.4. We may automatically complete some of the Bankzy Initiated Payment Details, (for example, the Merchant’s or Merchant Provider’s account number and sort code) but you agree that it is your responsibility to ensure that the Bankzy Initiated Payment details are correct. If the Bankzy Initiated Payment Details are incorrect there is a risk of delay and a risk that you may not be able to recover any funds.

3.4. When you confirm that you wish to make the Bankzy Initiated Payment to the Merchant or Merchant Provider using the Bankzy Initiated Payment Details, this will be taken as your explicit consent for us to send the Initiated Payment Details to your Payment Account Provider.

3.5. If the Bankzy Initiated Payment is successful, we will notify you and the Merchant or Merchant Provider of this. We will also confirm the payment reference number and the amount of the payment. If the Bankzy Initiated Payment is unsuccessful (because, for example, you have insufficient funds in your Payment Account), we will notify you and the Merchant or Merchant Provider of this.

3.6. You acknowledge and agree that the successful and timely execution of a Bankzy Initiated Payment is dependent upon the co-operation of your Payment Account Provider (and the account provider of the Merchant or Merchant Provider) and the correct functioning of the banking infrastructure. Once we have submitted the Bankzy Initiated Payment Details to your Payment Account Provider, the execution of the Bankzy Initiated Payment is the responsibility of your Payment Account Provider and we are not responsible for any delays in this respect.

3.7. You may be redirected to your Payment Account Provider’s website or mobile application in order to authenticate yourself so that your Payment Account Provider knows that you consent to the Bankzy Initiated Payment. The method of authentication will be determined by your Payment Account Provider.

3.8. If the Bankzy Initiated Payment relates to a transaction that is to be executed by your Payment Account Provider immediately, you will not be able to cancel the Bankzy Initiated Payment after you have provided your consent in accordance with clause 3.5. If you have approved the Bankzy Initiated Payment during a banking day, it will be considered as received by us and approved by you on that day. If you have approved the Bankzy Initiated Payment during a day which is not a banking day, it will be considered as received by us and approved by you the following banking day although this is subject to your terms with your Payment Account Provider.

You should be aware that the Payment Account Provider may contact you directly (and not through the Merchant Website or the Solution) if there is an issue with the Bankzy Initiated Payment submitted through the Service (for example, if there are insufficient funds or an issue with your authorisation). You will need to resolve any such issues directly with your Payment Account Provider.

Provision of the Account Services

3.9. In order to authorise us to access Financial Information on behalf of a Merchant, you will need to redirect via our software to your Payment Account Provider and expressly authorise us to access your account with your Payment Account Provider on a ‘read only’ basis (“Authorisation”). If you expressly authorise us to provide your Financial Information to a Merchant through the Account Services, directly or through identified third parties, we will do this acting as agent for you and the Merchant.

3.10. When you grant Authorisation to us, you agree and confirm that:

3.10.1. you are over 18 years old;

3.10.2. the account with your Payment Account Provider to which the Authorisation relates is in the UK.

3.10.3. all of the information you have provided to us or our nominated Third Party Provider is accurate and correct and the details you have provided relate and belong to you;

3.10.4. you can enter into a legally binding agreement with us;

3.10.5. where any intellectual property rights subsist in the Financial Information and such intellectual property rights belong to you, you grant us a non-exclusive license to use such Financial Information in order to perform our obligations under these Terms; and

3.10.6. where your Payment Account Provider requires a re-authentication periodically, you will re-authorise us.

3.11. You acknowledge and agree that we are entitled to proceed with Account Services on the assumption that any Authorisation provided to us in relation to your Financial Information has been provided by you.

3.12. In our sole discretion, we reserve the right to refuse to accept your Authorisation (and therefore to refuse to provide the Account Services) without any liability to you.

3.13. Upon granting Authorisation to us, you authorise us, through your Payment Account Provider, to act solely as an account information services provider (“AISP”) to:

3.13.1. collect your Financial Information;

3.13.2. process such Financial Information in accordance with a Merchant’s requirements; and

3.13.3. present such Financial Information to the Merchant.

3.14. Where providing Account Services to a Merchant (who may then provide it to you), we make no warranties that the Account Services will be uninterrupted, timely or error free, nor that the information presented will be accurate or reliable.

3.15. Our Account Services are provided on an ‘AS IS’ basis and we make no representation, guarantee or agreement of any kind as to the accuracy nor functionality produced by our tools and solution, or provided to our Merchants.

3.16. We are not responsible for any decision our Merchants make in relation to your Financial Information that we provide to them.

3.17. We recommend that you read the Merchant or Payment Account Provider’s data protection and privacy policies. Our privacy policy is available at

3.18. You acknowledge that any product or service offered by a Merchant or Payment Account Provider to you is governed by the terms between you and such Merchant or Payment Account Provider. We are not liable to you for any harm, damage or loss whatsoever and howsoever caused or arising from your use or those products and services.

3.19. We may use Third Party Providers to deliver some or all of the Account Services subject to clause 3.3 of these Terms.

Security of Payment Account Details

3.20. You must take all reasonable steps to keep the security details relating to your Payment Account (including an account number, password or any other factor which your Payment Account Provider uses to authenticate you) safe and you must not disclose them or allow them to be used by anyone else other than an authorised payment services provider. You must not leave the device you are using unattended while you are using the Service and you must make sure that any security details stored or displayed on your device is kept secure.

3.21. If you suspect that an unauthorised, defective, late or otherwise incorrect Bankzy Initiated Payment has been made using the Service you must notify us of this as soon as possible (and no later than 12 months after the date of the relevant Initiated Payment) by emailing [email protected].

3.22. In the event that we need to contact you in respect of suspected fraud or any other security threat, we will use the method which seems most secure.



Acceptable Use

3.23. You agree not to:

3.23.1. use the Services in way that breaches these Terms or any applicable local, national or international law or regulation;

3.23.2. copy, or otherwise reproduce or re-sell any part of the Services or the Solution unless expressly permitted to do so in accordance with these Terms;

3.23.3. do any act or thing that might damage, disrupt or otherwise interfere with the operation of the Services or any equipment, network or software used in operating the Service; or

3.23.4. misuse the Services or the Solution by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to the Service, the server on which the Service is stored or any server, computer or database connected to the Service.


4.1. We may amend these Terms from time to time (if, for example, there is a change in the law that means we need to change these Terms).

4.2. Every time you use the Service or access the Solution, please check the then current Terms to ensure you understand the Terms that apply at that time.

  1. FEES

5.1. We do not currently make any charge to you for the Service or access to the Solution. Instead we have financial arrangements in place with the Merchant or Merchant Provider who has directed you to us for the provision of the Service. Your Payment Account Provider may charge you in order to execute the Bankzy Initiated Payment.


6.1. We are the owner or the licensee of all intellectual property rights in the Service and the Solution, and its content and the Bankzy Open Banking® name and mark. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

6.2. You are not granted any right to use, and may not use, any of our intellectual property rights other than as set out in these Terms.

6.3. No part of the Solution may be copied, reproduced, republished, uploaded, re-posted, modified, transmitted or distributed or otherwise used in any way without our prior written consent.


7.1. Nothing in these Terms excludes or limits our liability for:

7.1.1. death or personal injury caused by our negligence;

7.1.2. fraud or fraudulent misrepresentation; and

7.1.3. any matter in respect of which it would be unlawful for us to exclude or restrict our liability.

7.2. If we fail to comply with these Terms, we are responsible for loss or damage you suffer that is a reasonable foreseeable result of our breach of these Terms or our negligence, but we are not responsible for any loss or damage that is not reasonably foreseeable. Loss or damage is reasonably foreseeable if it was an obvious consequence of our breach or if it was contemplated by you and us at the time that you utilised a Service.

7.3. If you think that we have incorrectly made a Bankzy Initiated Payment from your Payment Account (for example, if you have not authorised the Bankzy Initiated Payment, if the Bankzy Initiated Payment is sent to the incorrect Merchant or Merchant Provider, if the Bankzy Initiated Payment is sent at the wrong time) then you should contact us and your Payment Account Provider as soon as possible (and no later than 12 months after the relevant Bankzy Initiated Payment was made).

7.4. However, you will be responsible for any losses arising from unauthorised access to such Account Services and/or Payment Services if we can show that:

7.4.1. you have used, attempted to use or intended to use the Account Services and/or Payment Services to conduct illegal activity;

7.4.2. you negligently or intentionally failed to take all reasonable precautions to keep safe and prevent fraudulent use of your mobile device and security information;

7.4.3. you acted fraudulently; or

7.4.4. you are aware of the Services being accessed without due authorisation but fail to inform us in accordance promptly or in accordance with these Terms.

7.5. We will work with your Payment Account Provider to assist you in relation to any Bankzy Initiated Payment which you consider to have been made incorrectly but ultimately it is your Payment Account Provider who is liable to refund you or provide some other form of address. In any event, you acknowledge that we will have no liability where:

7.5.1. you have acted fraudulently;

7.5.2. you have failed to notify us of the relevant Bankzy Initiated Payment within 13 months of the date on which it was made; or

7.5.3. you have failed, either intentionally or with gross negligence, to comply with these Terms.

7.6. Nothing in these Terms affects your statutory rights. Advice about your statutory rights is available from your local Citizens’ Advice Bureau or Trading Standards Office.

7.7. You shall indemnify and keep us indemnified against any losses, damages, reasonable costs and expenses or fines we may suffer or incur arising under or in connection with you making unlawful Bankzy Initiated Payments from your Payment Account.


8.1. These terms are in English and any communications we send to you will be in English. You agree that all communications that we may need to send to you may be sent electronically and you agree that we have no obligation to send communications in paper form (other than in respect of legal proceedings).

8.2. Each of the clauses of these Terms operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining clauses will remain in full force and effect.

8.3. If we fail to insist that you perform any of your obligations under these Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will continue to waive such default indefinitely or that we will automatically waive any later default by you.

8.4. These Terms constitutes the entire agreement between us and you in relation to its subject matter. It replaces and extinguishes all prior agreements, collateral warranties, collateral contracts, statements, representations and undertakings made by on behalf of either us or you, whether oral or written, in relation to that subject matter.

8.5. Each of you and we acknowledge that in entering into these Terms, no reliance has been place upon any collateral warranties, collateral contracts, statements, representations or undertakings, whether oral or written, which were made by or on behalf of the other party in relation to the subject-matter of these Terms and which are not set out in these Terms. Each party hereby waives all rights and remedies which might otherwise be available to it in relation to any such collateral warranties, collateral contracts, statements, representations or undertakings.


9.1. These Terms and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales. You agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with these Terms or its subject matter or formation.


10.1. Should you have any reasons for a complaint, we will endeavour to resolve the issue and avoid any re-occurrence in the future.

10.2. You can always contact us:

Address: 30-34 North Street, Hailsham, East Sussex, United Kingdom, BN27 1DW.

Email address: [email protected]

10.3. If the nature of your complaint relates to the provision of the Service, we will send you a final response within 15 business days of your complaint. In exceptional circumstances, we will send you a holding reply specifying the deadline by which you will receive our response, being not later than 35 business days from the date of your initial complaint. If you do not receive our final response or you are unhappy with our final response, you may be able to refer the matter to the Financial Ombudsman Service (“FOS”). You can contact the FOS at The Financial Ombudsman Service, Exchange Tower, London, E14 9SR or by calling them on 0800 023 4567.

10.4. If you do refer your complaint to the Financial Ombudsman Service, this will not affect your right to take legal action.