YONDER TOP-UP ACCOUNT TERMS AND CONDITIONS

Version 1.0

1. Who is this agreement between?

The parties to this agreement are:

Yonder Technology Ltd; and
you, the Yonder member named in the Yonder Credit Agreement (Yonder Credit Agreement).

These Top-up terms and conditions form a legal agreement between you and us in respect of the Top-up account. Please read through these terms carefully and let us know if you have any questions.

A copy of these terms and conditions will always be available through the Yonder app. These terms and conditions should be read alongside your Yonder Credit Agreement.

2. Some background information

Yonder provides running-account credit through the Yonder Mastercard credit card (Yonder Card) as outlined in the Yonder Credit Agreement. In order to obtain and continue using your Yonder Card, you must also open and maintain a linked Top-up account. The Top-up account is solely to be used for spending on the Yonder Card, see section 3 (‘What is the Top-up account and how should you use it?’) for further information.

The Top-up account is operated and opened by Griffin Bank Limited (Griffin). More information on Griffin can be found below in section 4 (‘Who are Griffin?’). Whilst Griffin is responsible for opening and operating your Top-up account, Yonder is responsible for providing you access to your Yonder Top-up account and access to the Yonder app.

Any funds held in your Top-up account will be covered by the Financial Services Compensation Scheme (FSCS), see section 11 (‘FSCS protection’) for what this means.

3. What is the Top-up account and how should you use it?

Subject to Griffin’s approval your Top-up account will be opened by Griffin in your name when you enter into the Yonder Credit Agreement and agree to these terms and conditions.

Your Top-up account has two main uses:

Your Top-up account provides an easier way to make manual repayments under your Yonder Credit Agreement. This is because it allows you to transfer funds directly to us from your bank account.
You can also increase your spending limit. Adding funds to your Top-up account will temporarily increase your spending limit by an amount equal to the balance in your Top-up account plus your credit limit. For example, if you have a credit limit of £200, and add £200 into your Top-up account, assuming you do not owe us anything, you will be able to spend £400 on your Yonder Card. This might be particularly useful if you need to make a large transaction on your Yonder Card (e.g. to pay for a holiday) which your current credit limit would not cover. After you have spent the funds in your Top-up account, your spending limit will return to its previous level.

Your Top-up account should only be used in the ways described above. It is solely to be used for spending on the Yonder Card and not otherwise intended as a bank account for everyday use or as a savings account. Money in the Top-up account will not earn any interest and you should not hold funds in your Top-up account for any extended period of time.

Please note that you don’t need to use the Top-up account to Top-up your account if you don’t want to. You can still continue to enjoy and use your Yonder Card in the normal way without adding funds to your Top-up account. Please note however that if you ever overpay us, these funds will be held in your Top-up account.

There are no charges or fees associated with the Top-up account.

4. Who are Griffin?

Griffin is a bank incorporated in England and Wales with company number 10842931 and whose registered office is at 9th Floor 107 Cheapside, London EC2V 6DN.

Griffin accepts deposits, and offers other banking, financial and technology services. Griffin is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Griffin’s Financial Services Register number is 970920. To find out more about Griffin, please visit the Financial Services Register at https://register.fca.org.uk or call the Financial Conduct Authority on 0300 500 8082.

You agree that the opening of any Top-up Account may be outside of our control and will be subject to Griffin’s eligibility criteria and risk appetite.

5. Using your Top-up account

You may transfer funds into your Top-up account by bank transfer using the account number and sort-code or otherwise by following the instructions we provide you in the Yonder app. Any funds transferred into your Top-up account must come from a personal account in your name unless we specifically permit otherwise.

There may be a limit as to how much you can deposit in your Top-up account. This limit will be shown in your Yonder app.

Funds transferred into the Top-up account will normally be available within a few minutes. We or Griffin may refuse to accept payment into your Top-up account if such payment would exceed your Top-up account limit or is subject to an investigation or there is any suspicion that the payment is fraudulent or in breach of applicable laws or otherwise in breach of the terms of the Yonder Credit Agreement or these terms and conditions.

You can check the balance of your Top-up account and your credit limit in the Yonder app.

Any funds you transfer into your Top-up account will be automatically used in the following order:

firstly, to repay any outstanding balance you owe us under your Yonder Credit Agreement at the time you make the transfer;
then, to repay any future spend on your Yonder Card.

This means you should always check the balance of your Top-up account in the Yonder app before spending on your Yonder Card as you may not be able to spend as much as you think.

You can always request to withdraw any remaining funds held in your Top-up account to a personal bank account in your name. We may require you to provide certain documents in order to verify your request (e.g., a bank statement). Transfer of the funds to your account may take up to 7 business days after your request has been verified.

6. What if you need help?

Please contact Yonder in the first instance for any support. You can contact us using the in-chat app on your Yonder App, or at help@yonder.com. If we are unable to provide you with the support you require, we may refer you to Griffin for additional support.

7. What we are not responsible for

We and Griffin shall have no liability for any failure to provide, or any delay in providing, or suspending your Top-up account in accordance with these terms and conditions to the extent that such failure, delay or suspension results from:

your failure to comply with your obligations under these Top-up terms and conditions, or to provide us with information or updates as reasonably required or requested by us;
you providing us with incorrect payment instructions; or
a pending investigation into any specific payment instruction or activity on your Top-up account.

If we break this agreement, we won't be liable to you for losses and costs caused by abnormal or unforeseeable events, that we cannot reasonably control and which would've been unavoidable despite all reasonable efforts to prevent the event happening.

8. When can we suspend your Top-up account

We may suspend or revoke your right to access and/or use your Top-up account if:

we terminate or suspend your Yonder Card;
you breach these Top-up terms and conditions or your Yonder Credit Agreement in a material way;
we reasonably believe that it is necessary or desirable to do so for legal, regulatory or security reasons, or to protect Yonder. This might happen, for example, if we believe that your Top-up account has been compromised, or that someone else is making (or attempting to make) requests on your behalf;
there is a dispute over your entitlement to any funds in your Top-up account;
you are subject to any sort of bankruptcy process;
if we have other serious grounds or valid reasons for doing so including for example, legal or regulatory reasons or suspected misuse of Yonder’s services or suspected fraudulent or criminal activity.

We cannot be responsible for any losses you might suffer if we suspend or revoke your right to access and/or use your Top-up account under this section 8 unless this has arisen as a result of our negligence.

9. Changes to your Top-up account

We can change these terms and conditions for any of the following reasons:

where the costs to us of providing your Top-up account change or we have a good reason to expect that they will change;
where we or Griffin are changing the way you can use the Top-up account;
where the change is either good for you (including where we're making the change to improve the security of your account or we're making the agreement clearer or fairer) or neutral;
to reflect changes or developments in the technology or systems which we or Griffin use; or
where we're making the change to reflect a change in law, regulation or industry codes of practice (including where we have a good reason to expect a change), or to reflect a decision by a court, regulator or the Financial Ombudsman Service (or equivalent).

We'll give you at least 30 days' advance notice of the change, unless the change is not to your disadvantage. In this case, we'll give you notice but we may make the change more quickly, including on the same day as the change is notified to you. We'll always give you details of when the change will take effect. If you don't want to accept any change, then you can always end this agreement by telling us to close your Top-up account (see section 10 ‘Closing your Top-up account' below). If you don't do this, we'll assume you've accepted the change. Please note however that if you terminate your Top-up Account, we will also terminate your Yonder Credit Agreement and you will have to repay everything you owe us (see 'Ending your agreement' in section 26 of your Yonder Credit Agreement).

10. Closing your Top-up account

This agreement will have no fixed duration and will continue until you or we end it in accordance with these terms. You and we can end it without giving any reason.

You can do this at any time in the Yonder app, by calling us or writing to us in the in-app chat to tell us to close your Top-up account.

You must have a Top-up account in order to use the Yonder Card. Therefore, if you ever close your Top-up account, we will immediately end your Yonder Credit Agreement in accordance with section 26 of the Yonder Credit Agreement. Similarly, if the Yonder Credit Agreement is terminated for any reason, we will close your Top-up account.

If we end this agreement we will always try and give you 30 days’ notice, however that may not always be possible.

Once we have notified you that the Top-up account is to be closed, you are not permitted to transfer any further funds into your Top-up account unless it is to repay any outstanding balance under your Yonder Credit Agreement.

Any termination of these terms and conditions shall be without prejudice to any rights that have accrued to either party.

11. FSCS protection

Funds held in your Top-up account are covered by the FSCS, dependent on you being eligible. Information on eligibility and the protected sum limits is available on Griffin’s website at https://griffin.com/deposit-protection.

For more information about the compensation provided by the FSCS, please see the FSCS website at www.FSCS.org.uk.

Please note that the amount of funds that are protected may be impacted if you have any other accounts with Griffin.

12. What do you do if you are unhappy?

If you have a complaint about your access to the Top-up account, your Yonder Card or the service you've received, please contact complaints@yonder.com.

If you're unhappy with the way Yonder deal with your complaint you can reach out directly to Griffin at support@griffin.com. You also may be able to refer your complaint to the Financial Ombudsman Service by writing to Financial Ombudsman Service, Exchange Tower, London E14 9SR, calling 0800 023 4 567 or 0300 123 9 123 or sending an email to complaint.info@financial-ombudsman.org.uk. You can find out more about the Financial Ombudsman Service on their website at www.financial-ombudsman.org.uk.

13. How we and Griffin use your information

Yonder will protect any personal information we hold about you in line with Yonder’s Privacy Policy which can be accessed at: https://www.yonder.com/legal/privacy-cookies-policy.

Griffin will protect any personal information it holds about you in line with Griffin’s Privacy Policy which can be accessed at https://griffin.com/privacy.

14. Waiver of rights

We may choose to delay enforcing or choose not to exercise rights under this agreement. If we do this, we do not waive our rights to exercise or enforce them on any other occasion.

15. Other important information

We are incorporated in England and Wales with company number 12739942.

Our registered address is at Shoreditch Exchange, Senna Building, Gorsuch Pl, London E2 8JF.

We are authorised and regulated by the Financial Conduct Authority under firm reference 946219. You can find out more about us by visiting the Financial Services Register at https://register.fca.org.uk.

You may have to pay other taxes or costs that are not paid or imposed by us.

16. Language and governing law

These terms and conditions and all communications between us concerning the Top-up account shall be in English.

English law applies to this agreement unless you entered into it in Scotland or Northern Ireland, in which case the law of that jurisdiction will apply. You agree that any dispute concerning this agreement shall be subject to the exclusive jurisdiction of the courts of England and Wales, unless you reside in Scotland or Northern Ireland, in which case you or we may also bring a claim in those jurisdictions.