These General Terms and Conditions (hereinafter the General Terms and Conditions) establish a general basis for the legal relations between Cryptus OU Limited (hereinafter Cryptus OU ) and its client (hereinafter Client). These General Terms and Conditions stipulate the general principles for the business conduct between the Client and Cryptus OU, and are part of the Service Agreements concluded between Cryptus OU and the Client.
These General Terms and Conditions shall be applicable in respect of all contractual relations established prior to and continuing on the date of entry into force of the General Terms and Conditions. If the General Terms and Conditions are in conflict with the Service Agreement, the provisions of the Service Agreement shall have priority. The Client confirms that the General Terms and Conditions have been examined and agrees with them and undertakes to follow them at all times.
Cryptus OU is a United Kingdom private company limited by shares, registered under No. 10600055 in England and Wales; its principal place of business is 80 Coleman Street, London, United Kingdom, EC2R 5BJ.
Cryptus OU is an authorized payment institution acting under the license No. 774327, issued by the Financial Conduct Authority of United Kingdom. Under its license, Cryptus OU may provide payment services in all Member States of the European Union and the European Economic Area pursuant to separate notifications to the competent authorities in the relevant Member States.
The Financial Conduct Authority exercises supervision over Cryptus OU . Contact details of the FCA and the list of authorized payment institutions maintained by FCA are available at FCA website
The Client may also contact the competent authority in its own Member State to obtain more information about Cryptus OU. In case if you wish to find out more about Cryptus OU, do not hesitate to contact us by e-mail: firstname.lastname@example.org
Cryptus OU ’s main services allowed under our payment institution license are the following:
The detailed list of payment services offered by Cryptus OU is available on Cryptus OU ´s homepage.
Cryptus OU IS AN AUTHORISED PAYMENT INSTITUTION , NOT A BANK, THEREFORE, FUNDS ON THE CLIENT’S PAYMENT ACCOUNT SHALL NOT BE DEEMED TO BE A DEPOSIT. FUNDS ON THE CLIENT’S PAYMENT ACCOUNT MAY BE USED ONLY FOR THE EXECUTION OF PAYMENT TRANSACTIONS.
Cryptus OU ACTIVITIES ARE LIMITED TO PAYMENT SERVICES, MONEY ON CLIENT ACCOUNTS ARE NOT PROTECTED BY THE UNITED KINGDOM DEPOSIT GUARANTEE SCHEME OR OTHER SIMILAR DEPOSIT GUARANTEE INSTRUMENTS. INSTEAD, CLIENT FUNDS IN TRANSIT ARE KEPT OF SAFEGUARDING ACCOUNTS WITH REPUTABLE CREDIT INSTITUTIONS.
Cryptus OU may, from time to time offer its Clients other products and services such as loans, investments, insurance, credit and savings products, which are provided by our partner third parties, duly licensed credit institutions, insurance companies, broker dealers, etc. For the use of any such additional service, the Client may have to accept additional terms and conditions of our partner third parties as notified to the Client when ordering of using such product and services.
In addition to Cryptus OU , third parties also provide the Client with their services through Cryptus OU Electronic Channels. Cryptus OU does not bear any liability for the services of third parties. Cryptus OU does not act as a broker or intermediary for any services provided by third parties; it merely provides third parties with an opportunity to provide their services via the electronic platform developed and managed by Cryptus OU . Third Party Services may be governed by their own terms and conditions which supplement these terms of service and which the Client accepts in connection with the subscription of the respective service. Some Third Party Services entail the Client entering into a direct agreement with the third party, in which case the Client’s rights and obligations in respect of the Third Party Service are solely specified in such agreements. In case of any conflict between the supplementary terms or third party terms and the conditions and these General Terms and Conditions, the supplementary terms or third party terms and conditions shall prevail.
Under no circumstances, will Cryptus OU be liable to the Client or anyone else for any decision made or action taken in reliance on the information from the Third Party Services.
Any amendments made to the terms applicable to the Services shall be notified to the Client electronically in accordance with Section “Notices to the Client” below. The amendments shall enter into force on the date set out in the respective notice, however, at the earliest of one (1) month from the date of the notification, unless otherwise specified in the Service Agreement.
If the Client does not agree with the amendments, it shall have the right to cancel the amended Service Agreement by notifying Cryptus OU in accordance with Section “Notices of Cryptus OU” below and performing all outstanding duties arising from the Service Agreement prior to termination of the respective Service Agreement. The Client shall be regarded as having accepted the amendments if the Client does not object to them before the effective date. One (1) month notice period will not apply where an amendment is required by law or it relates to an addition of a new service or product, an extra functionality to the existing Service or any other amendment which neither reduces the Client’s rights nor increases the Client’s responsibilities. In such instances, the amendment will be made without prior notice to the Client and shall be effective immediately after its publication.
Laws and regulations of United Kingdom applies to the relations between Cryptus OU and the Client, including all terms and conditions regulating the Services. The relations between Cryptus OU and the Client shall be regulated by the law of a foreign state if it is so prescribed by the Client domicile law or international agreement. If the Client is a consumer, the mandatory laws of the Client’s domicile may also apply. The Client is solely responsible for understanding and complying with any and all laws, rules and regulations of the Client’s specific jurisdiction that may be applicable to the Client in connection with the Client’s use of the Services, including but not limited to those related to taxes or any other fees.
Any court action between the Cryptus OU and the Client shall be resolved in a court of United Kingdom unless agreed otherwise by the Client and Cryptus OU or provided otherwise in the law. An agreement on jurisdiction applies also if the Client settles in to a foreign state after entry into the Service Agreement.
The Client must have internet access and an e-mail account to receive communications and information related to the Services (incl. notification of any amendments to the General Terms and Conditions, Service Agreements, Price List etc.; notifications concerning any Services).
The Client agrees that Cryptus OU may provide notice or other information to the Client via one or several of the channels mentioned below:
A notice sent electronically (e.g. SMS, e-mail, notification in Electronic Channel) shall be considered received by the Client on the day it was published. Notices, sent by post are deemed to be received by the Client on the fifth calendar day as of posting the same.
Cryptus OU may send any information and notices to the Client by using the contact details (e.g. e-mail or residency address, phone number) which have been provided by the Client.
The Client shall send information to Cryptus OU electronically in writing (e.g. through the Electronic Channels, by e-mail) or by using any other agreed channels or means (e.g. by phone). The Client is obliged to notify Cryptus OU immediately, in accordance with previously agreed means, of any circumstances which are relevant to the relations between Cryptus OU and the Client, and which affect or may affect the fulfilment of the obligations of the Client or Cryptus OU , including a change of name, address, contact details etc. The Client shall be obliged to notify Cryptus OU immediately of the loss or theft of its personal identification document or another means of identification or loss or theft of the Client Credentials or Payment Instrument or loss of possession thereof against the will of the Client in any other manner. The Client must inform Cryptus OU even if any of the aforesaid information has been or may be made public (e.g. judicial decision, notification to public registers or publishing through the mass media).
Communication between Cryptus OU and the Client shall be conducted in English, unless the Parties agree on any additional languages for communication. Cryptus OU may provide support to its clients in various other languages.
Upon establishment of a business relationship, the Client shall register with Cryptus OU and give all information that Cryptus OU requires in connection with the registration and/or establishment or monitoring of business relationship.
With registering with Cryptus OU the Client confirms to Cryptus OU that the Client is a resident of a Contracting State of the EEA (European Economic Area). In case if the Client is not a resident of the EEA (European Economic Area), Client must confirm that the laws and regulations of his domicile are not prohibiting establishment of a business relationship by such Client with Cryptus OU. The Client confirms its full legal capacity and the fact that it acts in person. The Client being natural person confirms that there is no beneficial owner other than itself.
When giving information, the Client confirms and guarantees that all information is complete, accurate and true.
Cryptus OU shall have the right to decide with whom to conclude or not to conclude any agreement. Amongst other, Cryptus OU may refuse to conclude a business relationship and/or conclude any agreement with a person or to provide Services to a person in the following cases:
Upon establishment of a business relationship, Cryptus OU is obliged to identify its Clients. The method used by Cryptus OU for identifying a Client can vary based on requirements stemming from the jurisdiction existing in the country where the Client concludes the business relationship with Cryptus OU (e.g. identification documents notarisation, online identification, face-to-face identification, etc.).
The Client and its representative are obligated to submit to Cryptus OU any and all information and documents requested by Cryptus OU for identification.
If Cryptus OU has doubts about the veracity of the Client’s data or documents, then Cryptus OU may ask the Client to specify its information, provide additional information or documentation, or if necessary, to re-do the identification process.
Upon agreeing with the General Terms and Conditions, the Client hereby irrevocably authorizes Cryptus OU to request any information and documents, regardless of its form, related to Client identification and verification (including, without limitations, a copy of the Client’s documents and data) from any credit institution or a financial institution who has or had identified that Client, or has or had a business relation with that Client. For avoidance of doubt, this authorization grants Cryptus OU the right to request all data and documents on the Client from any credit or financial institution whose identification or authentication method (e.g. BankLink) was used in Cryptus OU ’s identification process. On request of Cryptus OU , the Client undertakes to provide Cryptus OU with additional authorizations or documentation (incl. a written power of attorney) needed to receive the information or documentation mentioned above and do everything necessary to provide Cryptus OU with all information needed to duly prove its identity.
From time to time, Cryptus OU may demand additional identification to verify the identity of the Client for security or other reasons. The Client undertakes to provide Cryptus OU will all information and documents required to verify that Client’s identity.
For the use of the Electronic Channels and/or Payment Instrument, Cryptus OU verifies the Client based on the Client Credentials entered by the Client (e.g. username and password; one time OTP/MAC token).
The Client can authorize other persons to use the Services of Cryptus OU made available to that Client under the Service Agreements concluded between the Client and Cryptus OU . Authorization offers the authorized person an access and power to undertake transactions on behalf of that Client and access information related to that Client’s account. The Client is liable for any use of the Services, including for any use of the Services by persons who it has authorized. If the Client has authorized a person to use Services (incl. that Client’s Payment Account), the authorized person needs to be registered as a client of Cryptus OU (i.e. the person has a business relationship with Cryptus OU ). Authorization can be granted by using the Electronic Channels. The Client confirms that before authorizing any other person it has given the General Terms and Conditions and other terms and conditions applicable to the use of the Services to the persons to whom the authorizations is to be given for examination and shall bear liability for the performance and non-performance of the contractual obligations by the authorized person.
The orders given to Cryptus OU by the Client must be unambiguous and executable. The Client shall confirm all Operations performed by using the Client Credentials or in another manner required by Cryptus OU (e.g. by signing a hard copy) and such confirmation shall be deemed as the Client’s consent to the performance of the respective Operation.
The Client submits its orders to Cryptus OU electronically or in another manner agreed between Cryptus OU and the Client and in the form developed by Cryptus OU (e.g. electronically being logged in to the Electronic Channels).
The forms of orders are available in the Electronic Channels. The Client ensures that its orders are prepared, confirmed and submitted in accordance with the applicable legislation, the General Terms and Conditions of the Service Agreement and other relevant requirements, customs and practices applicable to that order. By submitting an order, the Client unconditionally and irrevocably consents to the Operation to be made under the given order.
If the Client makes an Operation or uses its Payment Account via Third Party Services (e.g. e-wallets), authorization of Payment Order will be completed and submitted to Cryptus OU in accordance with the conditions regulating the Third Party Services (e.g. by using security credentials and means applicable to the Third Party Services).
In respect of the obligations, associated with the Client Credentials and OTP/MAC token generator, the Client, as a holder of a Payment Instrument shall:
Security Guidelines concerning the use of the Payment Instrument will be published by Cryptus OU on Cryptus OU Homepage. For security purposes, Cryptus OU may demand that different Client Credentials or their combinations be used for different transactions and limits.
In order to use the OTP/MAC token generator, the means and of communications of the Client must be in conformity with the technical and security requirements established by Cryptus OU and take other reasonable security measures to protect its Payment Account and OTP/MAC token generator. The requirements are available on Cryptus OU 's Homepage.
The Client is liable for the security and operations of the means of communication (incl. computer, Internet and telephone connection) used by the Client for using the OTP/MAC token generator.
Without being obligated to compensate for any possible damage, Cryptus OU has the right to block the Client’s Credentials and/or OTP/MAC token generator at any time for security purposes, including without limitations, when Cryptus OU has any reason to believe that the OTP/MAC token generator or the Client is in danger.
The Client shall immediately notify Cryptus OU of a loss or theft of the OTP/MAC token generator and/or Client Credentials or of loss of possession thereof against the will of the Client in any other manner. After submitting the notice, the Client shall provide Cryptus OU with additional information about the circumstances of the abovementioned events, if necessary.
The Client must follow the security guidelines published by Cryptus OU from time to time relating to the security protection of its Payment Accounts. Cryptus OU shall not be liable for any loss or damages in case the Client does not follow the security guidelines published by Cryptus OU .
If the Client uses its Payment Account or OTP/MAC token generator via Third Party Services (e.g. e-wallets) the Client must follow the security guidelines applicable to Third Party Service.
Cryptus OU shall block the Services on the request of a third party only in the cases and pursuant to the procedure provided by law. Cryptus OU shall release the Service from blocking on the basis of the resolution of the competent body, or the respective judicial decision which has entered into force.
Cryptus OU shall have the right to block the Service if:
Cryptus OU shall not be held liable for any damage arising from the blocking of the Client’s Payment Account or OTP/MAC token generator.
Cryptus OU has the right to establish amount limitations for certain Operations. The Client has the right to request increase change the limitations established by Cryptus OU to the extent and pursuant to the terms and procedures established by Cryptus OU .
Cryptus OU at al times adheres to its Know-Your-Customer (KYC) principles upon the establishment of and during the business relationship with the Client. Under the KYC principles, the Client must be identified and the appropriateness of transactions must be assessed based on the Client’s principal business and/or prior pattern of transactions. Cryptus OU has the right to request additional information (e.g. documents serving as grounds for the transaction) from the Client to allow it to comply with its anti-money laundering obligations (e.g. information concerning the owners and ultimate beneficiaries of the Client and the Client’s business activity, including data on the contractual partners, turnover, the share of cash and non-cash transactions, frequency of transactions, etc.). The Client agrees to immediately comply with and without any undue delay grant all needed information and documents related to any request for further information Cryptus OU Limited reasonably requires. If the Client, regardless of the respective request, does not submit to Cryptus OU the documents and relevant information requested by Cryptus OU , the Client shall be deemed to have fundamentally breached the Service Agreement and Cryptus OU may, without following the terms of prior notification, extraordinarily terminate the Service Agreement and any other agreement which serves as a basis for the business relationship.
Cryptus OU shall have the right to receive and the Client shall be obliged to pay for the rendered Service fees, established in the Price List and/or the Service Agreement. The Client shall be obliged to keep a sufficient amount of money on the Payment Account so that Cryptus OU can debit the Payment Account with all service fees and other sums and arrears payable.
After the 30 days trial period ends (if was applied), Cryptus OU debits monthly fee once a month in advance in for the upcoming fee period. The fee period is 30 consecutive calendar days, based on 360 day calendar year. For example, if trial period ends on February 2nd , then the monthly fee will be charged on the same day. From then on, Cryptus OU will charge the monthly fee on 2nd date each month.
The price list in force at any given time is available on the Cryptus OU Homepage. Cryptus OU may unilaterally amend the Price List at any time. The Client shall be notified of the amendment via Cryptus OU in accordance with “Notices to the Client” section. The amendment enters into force on the date set out in the notice.
The Client has the right to terminate a Service Agreement with immediate effect at any time by a notice to Cryptus OU .
Cryptus OU has the right to terminate a Cryptus OU Service Agreement for convenience at any time by giving one (1) month notice to the Client.
Cryptus OU has the right to terminate the Service Agreement with immediate effect in the event that:
Any disputes between Cryptus OU and the Client shall be solved immediately by means of negotiations after the dispute arises. If the dispute cannot be settled on site, a claim shall be sent to the other party in accordance with Notifications Section . The claim shall specify the circumstances behind the claim, and refer to the legal act or document on the basis of which the claim is submitted. If the document which provides the basis for the claim is not freely available to the other party, and the law does not provide otherwise, the party who submits the claims shall add the document or a copy of the document to the claim.
Cryptus OU shall review the complaint and notify the Client who is an individual within 15 business days of the possible resolution of the complaint. Clients who are legal persons shall receive a corresponding notification within 30 business days of receiving the complaint. In general, written complaints from the Client will be given a written or electronic response, unless an oral response is made to a written complaint from the Client and there is reason to believe that the Client does not express consent to receive a written response.
Client may choose to complain about Cryptus OU, its products, services or actions to the Financial Services Ombudsman http://www.financial-ombudsman.org.uk/consumer/complaints.htm by:
In connection with the use of the Electronic Channels or the Services, or in the course of the Client’s interactions with Cryptus OU, the following activities are restricted at all times:
Payment Account: a Payment Account opened by Cryptus OU for the Client on the basis of the Payment Account Agreement for executing a payment transaction.
Payment Account Agreement: an agreement for the use of the Payment Account.
Client: a natural or legal person who uses, has used or has expressed his, her or its wish to use the Services of Cryptus OU .
Services: a service rendered by Cryptus OU to a Client (incl. any payment service, Payment Account and Payment instrument).
Service Agreement: the agreement regulating the terms and conditions applicable to a certain Service.
Third Party Services: third party services made available to Client through the Electronic Channels.
Cryptus OU Electronic Channels: electronic channels developed and managed by Cryptus OU or its subsidiaries which allow the Client to make Operations or manage its Payment Account.
Client Credentials: the username and the password chosen by the Client or other credentials granted for the Client by Cryptus OU or a third person.
Price List: valid price list established by Cryptus OU
Cryptus OU Homepage: Cryptus OU ’s website available at cryptus.io
OTP/MAC token generator: a personalized device (e.g. mobile device with Cryptus OU application, payment card) or a set of procedures used by the Client for the use of Electronic Channels and the performance of Operations in accordance with the General Terms and Conditions and information published on Cryptus OU ´s Homepage.
Operation: the use of the assets on the Payment Account (e.g. drafting, confirming and submitting payment orders), the use of functions, concluding any agreement, granting any authorization, exchanging information and documents, establishing limits and Restrictions and using any other services or functions of, or made available by Cryptus OU or a third person (e.g. entering into/amending a Service Agreement).
Restriction: the restriction on the use of the Services based on specific parameters (device, connection, location, time, amount limitation or other).