TNC

Terms Of Use

Please ensure you read this prior to using the app.


If you continue to browse and use this website, you are agreeing to comply with and be bound by the following terms and conditions of use which, together with our privacy policy, govern Baanx.com Limited’s relationship with you in relation to this website. If you disagree with any part of these terms and conditions, you are not permitted to use our website.

The term ‘Baanx’, ‘Baanx.com’ or ‘us’ or ‘we’ refers to the owner of the website whose registered office is Baanx.com Ltd, Mansion House, 33 Queen Street, London, England, London EC4R 1AP. Our company registration number is 11155611 in The United Kingdom. The term ‘you’ refers to the user or viewer of our website, App and platform.

The use of this application is subject to the following terms of use:

You accept that we offer no refunds for our services or assets on our platform.

The content of the pages of this website is for your general information and use only. It is subject to change without notice.

Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.

Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements.

This website contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than in accordance with the copyright notice, which forms part of these terms and conditions.

All trade marks reproduced in this website which are not the property of, or licensed to, the operator are the property of their respective trademark owners.
Unauthorised use of this website may give rise to a claim for damages and/or be a criminal offence.

From time to time this website may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s).

Your use of this website and any dispute arising out of such use of the website is subject to the laws of England and Wales.

COPYRIGHT NOTICE

All content, unless otherwise stated, is copyright © 2019 Baanx.com Ltd, Mansion House, 33 Queen Street, London, England, London EC4R 1AP. All rights reserved.

GDPR STATEMENT

Baanx.com Ltd. (“Baanx”) respects and complies with the EU General Data Protection Regulations (GDPR).
Some of the key ways we comply with these regulations are:

CONSENT

We explain what you’re consenting to clearly and without ‘legalese’, and ask that you explicitly consent to contact from us.

BREACH NOTIFICATION

In the event of a breach we will notify affected users within 72 hours of first having become aware of the breach.

RIGHT TO ACCESS

Users can request confirmation as to whether or not personal data concerning them is being processed, where and for what purpose. Further, we shall provide a copy of the personal data, free of charge, in an electronic format.

RIGHT TO BE FORGOTTEN

Once we have compared your (the subjects’) rights to “the public interest in the availability of the data”, we may delete your personal data where you have requested this.

DATA PORTABILITY

We allow you to receive the personal data concerning you, which we will provide in a ‘commonly used and machine readable format’ and you have the right to transmit that data to another ‘controller’.

PRIVACY BY DESIGN

We implement appropriate technical and organisational measures, in an effective way, in order to meet the requirements of this Regulation and protect the rights of data subjects’. We hold and process only the data absolutely necessary for the completion of our duties (data minimisation), as well as limiting the access to personal data to those needing to act out the processing.

Terms Of Use

Section 1 – Eligibility

By registering to use a Baanx Account , you represent that you:

• are at least 18 years old or of legal age to form a binding contract under applicable law.
• are an individual, legal person or other organization with full legal capacity and authority to enter into these Terms .
• have not previously been suspended or removed from using our Services
• you do not currently have an existing Baanx Account.

If you are entering into these Terms on behalf of a legal entity of which you are an employee or agent, you represent and warrant that you have all necessary rights and authority to bind such legal entity.

Section 2 – Prohibition of Use

By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists. Baanx maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.

Section 3 – Registration Requirements

All users of the service must register through the Baanx app for an account before being able to use the Services. To register for an Account, you must provide your real name, email address and password, as well as accept the Terms of Use, Privacy Policy and Consent Form. Baanx may, in its sole discretion, refuse to open an account for you. You agree to provide complete and accurate information when opening an Account and agree to promptly update any information you provide to Baanx so that such information is complete and accurate at all times. Each registration is for a single user only and each User may only maintain one Account with Baanx.

Section 4 – Identity Verification

With registration of an account on Baanx, you agree to share personal information requested for the purposes of identity verification. This information is used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes on the Baanx app. In addition to providing this information, to facilitate compliance with global industry standards for data retention, you agree to permit us to keep a record of such information for the lifetime of your account plus 5 years beyond account closing. You also authorise us to make inquiries, either directly or through third parties, that are deemed necessary to verify your identity or to protect you and/or us against financial crimes such as fraud.

The identity verification information we request may include, but is not limited to, your:

• Name
• Email Address
• Contact Details
• Telephone Number
• Username
• Government Issued ID
• Date of Birth
• Other information collected at the time of account registration

In providing this required information, you confirm that it is accurate and authentic. Post-registration, you must guarantee that the information is truthful, complete and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, Baanx shall have the right to send you a notice to demand corrections, remove relevant information directly and, as the case may be, terminate all or part of the Services to you. You shall be solely and fully responsible for any loss or expenses incurred during the use of Baanx App if you cannot be reached through the contact information provided. You hereby acknowledge and agree that you have the obligation to keep all information provided up to date if there are any changes.
By signing up for account you hereby authorize Baanx to make inquiries, whether directly or through third parties, that Baanx considers necessary to verify your identity or protect you and/or Baanx against fraud or other financial crimes, and to take action Baanx reasonably deems necessary based on the results of such inquiries. You also acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.

Section 5 – Usage Requirements

Accounts can only be used by the person whose name they are registered under. For card payments, the cardholder must be the person registered via the Baanx app. Baanx reserves the right to suspend, freeze or cancel accounts that are used by persons other than the persons whose names they are registered under. You shall immediately notify Baanx if you suspect or become aware of unauthorized use of your user name and password. Baanx will not be liable for any loss or damage arising from any use of your Account by you or by any third party (whether or not authorized by you).

 

Section 6 – Restrictions

When you use the app you agree and covenant to observe the following:

• All the activities that you carry out during the use of the Services will be in compliance with the requirements of applicable laws, regulations, as well as the various guidelines of Baanx:
• Your use of the app will not be in violation of public interests, public ethics or other’s legitimate interests including taking any action that would interfere with, disrupt, negatively affect, or inhibit other Users from using the Services:
By accessing the Service, you agree that Baanx shall have the right to investigate any violation of these Terms, unilaterally determine whether you have violated these Terms, and take actions to apply relevant rules without receiving your consent or giving prior notice to you. Examples of such actions include, but are not limited to:
• freezing your account
• reporting the incident to authorities
• publishing the alleged violations and actions that have been taken
• deleting any information you published that is in violation


Section 7 – Account Termination

You agree that Baanx shall have the right to immediately suspend your account (and any accounts beneficially owned by related entities or affiliates), freeze or lock the funds in all such accounts, and suspend your access to Baanx for any reason including if it suspects any such accounts to be in violation of these Terms, our Privacy Policy, or any applicable laws and regulations. You agree that Baanx shall not be liable to you for any permanent or temporary modification, suspension or termination of your Account or access to all or any portion of the Services. Baanx shall have the right to keep and use the transaction data or other information related to such accounts. The above account controls may also be applied in the following cases:

• The account is subject to a governmental proceeding, criminal investigation or other pending litigation;
• We detect unusual activity in the account;
• We detect unauthorized access to the account;
• We are required to do so by a court order or command by a regulatory/government authority

In case of any of the following events, Baanx shall have the right to directly terminate this agreement by cancelling your Account, and shall have the right to permanently freeze (cancel) the authorizations of your account on Baanx and withdraw the corresponding Baanx Account thereof:
• after Baanx terminates services to you;
• you allegedly register or register in any other person’s name as a Baanx user again, directly or indirectly;
• the information that you have provided is untruthful, inaccurate, outdated or incomplete; when these Terms are amended, you expressly state and notify Baanx of your unwillingness to accept the amended Terms;
• you request that the Services be terminated; and any other circumstances where Baanx deems it should terminate the services.

Should your Account be terminated, the Account and transactional information required for meeting data retention standards will be securely stored for 5 years. In addition, if a transaction is unfinished during the Account termination process, Baanx shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user initiated account exit (right to erasure under GDPR or other equivalent regulations) will also be subjected to the termination protocol stated above.

If Baanx receives notice that any funds held in your Account are alleged to have been stolen or otherwise are not lawfully possessed by you, Baanx may, but has no obligation to, place an administrative hold on the affected funds and your Account. If Baanx does place an administrative hold on some or all of your funds or Account, Baanx may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to Baanx has been provided to Baanx in a form acceptable to Baanx.
Baanx will not involve itself in any such dispute or the resolution of the dispute. You agree that Baanx will have no liability or responsibility for any such hold, or for your inability to withdraw funds or execute trades during the period of any such hold.
Remaining funds after Account termination due to fraud, violation of law, or violation of these terms.

Baanx maintains full custody of the funds and User data/information which may be turned over to governmental authorities in the event of Account suspension/closure arising from fraud investigations, violation of law investigations or violation of these Terms.


CL-Card Policies

Refund policy

No Refunds available


Cancellation policy

You have a legal right to cancel your account and card up to 14 days from the date your account is opened without incurring any penalty and we will refund any card issue fees. We may charge you a Card Cancellation Fee if we have already incurred costs by ordering a card in your name. If you have already completed the card ordering process, it is not possible for you to get a refund for your £4.99 Postage and Packaging (P&P) fee. You will only be entitled to this if CL cannot fulfill their card request in the allotted time. You will also be charged for the first monthly maintenance fee (£1.99) regardless of cancellation.
After this, you will be given the option to cancel your card/account and no more charges will be added. You can also cancel your card any time after the 14 day period subject to a Redemption Fee (the Fees and Limits table (section 33)) by contacting Customer Services. You should also cut your cancelled card in half through the signature box, magnetic strip and chip.

All other fees and charges will be apportioned up until the time of the termination of the contract, and any other such fees and charges paid in advance will be reimbursed proportionally. You will not be entitled to a refund of money you have already spent on transactions authorised, or pending or any fees for use of the card or account before the card or account is cancelled or expires.

Cardholder statement

There are no paper statements, all statements are currently provided through CL™ partner Apps. Please visit the Settings section of your CL™ App. Website statement functionality will be added in Q3 2019.
Once registered, the user will receive regular, system generated, emails making your monthly expenditure available to review.
Where transactions have been made, the online Debit Card statement must be sent to the Card Administrator no later than the 10th of the following month for authorisation.
It must be ensured that the correct ledger codes on the invoice certification slip.
Disputed transactions and unsatisfactory goods and services Cardholders may from time to time want to query a transaction on their statement. This can be for a number of reasons such as: the card statement lists an item that the Cardholder does not recognise, and cannot be reconciled with their Purchase transaction log the incorrect amount has been charged refunds not applied to the Debit card faulty or damaged goods supplied, refund requested goods/services not supplied wrong goods/services supplied.
We may need the Cardholder to complete a Declaration form or supply copies of correspondence with the supplier. Once they have receipt of this, the bank will perform a thorough investigation with the merchant(s) in question, and will endeavour to get the disputed amount credited back to the Cardholder’s Debit account.
A.) When an incorrect amount has been charged, the Cardholder must first approach the supplier to resolve the problem within 48hours of the statement being made available. If the supplier insists on the transaction being genuine the Card Administrator must raise the issue with CL™. If no explanation follows, the transaction should be treated as a disputed item.
B.) If the Cardholder is charged for items that have not been received (goods/services),
they should firstly contact the supplier to ensure that the goods have been delivered
to the correct address. (It is a regulation set down by Visa that the transaction is not
processed until the goods are allocated for dispatch.)
If the supplier insists that the goods have been delivered, treat the transaction as a
disputed item.

The majority of the time these issues can be resolved by the Cardholder contacting
the supplier directly. If the Cardholder is unable to resolve with the supplier they should contact CL™ Customer Services.

 

 

 


KYC & AML policies
Email for full comprehensive policies for KYC & AML.

Questions and contact information

Fill in the contact form on this website with your message and we will get back to you as soon as capacity allows
OR
If you would like to: access, correct, amend or delete any personal information we have about you, register a complaint, or simply want more information contact our Privacy Compliance Officer at or by mail at Baanx.com below:

FAO: Privacy Compliance Officer

Baanx.com Ltd, Mansion House, 33 Queen Street, London, England, London EC4R 1AP

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