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End-User Agreement

1. Introduction

1.1. We are Bud Financial Limited (Bud), a limited company registered in England and Wales
with company number 09651629, VAT number GB 220890817 and our registered address is
at Ground Floor, 25b Vyner Street, London, England, E2 9DG. To contact us, please email
support@thisisbud.com or write to us at Ground Floor, 25b Vyner Street, London, England,
E2 9DG.


1.2. We are authorised and regulated by the Financial Conduct Authority (FCA) under Financial
Services Register numbers 793327 and 765768. We are authorised by the FCA to arrange
regulated products and services, as well as provide account information services and
payment initiation services. 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.


1.3. You are seeing these terms (this Agreement) because you wish to access or use an
application or service provided by a third party (Service Provider) which relies upon Bud's
technology in order to:

  • 1.3.1. access the data (Account Data) related to your payment account (Payment Account)
    which is held by your bank, building society and other payment account providers
    (Account Provider), this service being referred to as the Bud AI Service; and/or
  • 1.3.2. initiate a payment from your Payment Account to a third party, this service being
    referred to as the Bud PI Service; and/or
  • 1.3.3. utilise other products or services which are provided by Bud and using its technology,
    including those marketplace and other services which in turn rely on the technology of
    certain third parties (Third Party Providers), these services being referred to as the
    Other Bud Platform Services.


1.4. Together, the Bud AI Service, the Bud PI Service and the Other Bud Platform Services are
referred to as the Bud Platform Service.


1.5. By accessing or using your Service Provider's application or service, you are agreeing to be
bound by this Agreement. If you do not agree to the terms of this Agreement, you must stop
accessing or using your Service Provider's application or service.


2. Bud AI Service


2.1. This section 2 sets out the basis on which we will provide the Bud AI Service. You provide us
with your explicit consent, on an ongoing basis for 90 days from the date of your giving
explicit consent, to:

  • 2.1.1. retrieve your Account Data held by your Account Provider;
  • 2.1.2. transfer your Account Data to your Service Provider who will use that information in
    accordance with the terms agreed between you and your Service Provider; and
  • 2.1.3. where applicable as part of the service agreed with your Service Provider and which
    you choose to engage with, transfer your Account Data to third party distributors of
    financial products (Distributors) and/or other Third Party Providers which are
    displayed in your Service Provider's application or service.


2.2. In order for us to access or use the Account Data held by your Account Provider, you must
supply us with the credentials which you would use when accessing your account directly
with your Account Provider. We will look after these credentials using reasonable care and
skill and in accordance with our regulatory obligations.


2.3. We will not charge you for your use of the Bud Platform Service although you may be
charged by your Service Provider or any Distributor in accordance with any terms which you
agree with them.


2.4. In certain circumstances, you may need to renew your consent or carry out strong customer
authentication in order for us to access the Account Data and it is your responsibility to carry
this out in order for us to continue to process Account Data in accordance with section 2.1
above.


3. Bud PI Service


3.1. The Bud PI Service, which is integrated into the application or service provided by your
Service Provider, allows you to initiate payments (Initiated Payment) to payees (Payees).


3.2. If you wish to make an Initiated Payment to a Payee via the Bud PI Service then you will
need to confirm the following details (Initiated Payment Details):

  • 3.2.1. certain details in relation to your Payment Account (including security details which your
    Account Provider will require for the purposes of strong customer authentication);
  • 3.2.2. the amount of the Initiated Payment; and
  • 3.2.3. the account details of the Payee.


3.3. We may automatically fill some of the Initiated Payment Details (for example, the Payee's
account number and sort code) but you agree that it is your responsibility to ensure that the
Initiated Payment Details are correct. If the Initiated Payment Details are incorrect there is a
risk of delay and a risk that you may not be able to recover the funds.


3.4. When you confirm that you wish to make the Initiated Payment to the Payee using the
Initiated Payment Details, this will be taken as your explicit consent for us to send the
Initiated Payment Details to your Account Provider. If the Initiated Payment is successful, we
will notify you and the Payee of this. If the Initiated Payment is unsuccessful (because, for
example, you have insufficient funds in your Payment Account), we will notify you and the
Payee of this.


3.5. You acknowledge and agree that the successful execution of an Initiated Payment is
dependent upon the cooperation of your Account Provider (and the account provider of the
Payee) and the correct functioning of the banking infrastructure. Once we have submitted the
Initiated Payment Details to your Account Provider, the execution of the Initiated Payment is
the responsibility of your Account Provider and we are not responsible for any delays in this
respect.


3.6. You may be redirected to your Account Provider's website or mobile application in order to
authenticate yourself so that your Account Provider knows that you consent to the Initiated
Payment.


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


3.8. We will not charge you for making an Initiated Payment but your Account Provider may, at its
discretion, charge you to execute the payment (please refer to your Account Provider for
further information in relation to any charges which may be applicable).


4. Incorrect or Unauthorised Payments


4.1. If you suspect that an unauthorised or incorrect Initiated Payment has been made using the
Bud PI Service you must notify us of this as soon as possible by emailing
support@thisisbud.com.


4.2. You may be entitled to a refund of the unauthorised or incorrect Initiated Payment from your
Account Provider but you must notify them of the unauthorised or incorrect payment as soon
as possible and no later than 13 months after the date of the relevant Initiated Payment.


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


5. Your obligations to us


5.1. By using the Bud Platform Service, you agree and confirm that:

  • 5.1.1. all the information you have provided to us is accurate and correct and you are the
    person whose details you have provided;
  • 5.1.2. you can enter into a legally binding agreement with us;
  • 5.1.3. you will only use the Bud Platform Service for the purposes envisaged by these terms;
  • 5.1.4. you will, upon request and where applicable, have provided a current address,
    telephone number and e-mail address (and will notify us immediately if your contact
    details change); and
  • 5.1.5. you are over 18 years of age.


5.2. You agree that you will not access or use the Bud Platform Service except for its intended
purpose and will not attempt to:

  • 5.2.1. gain unauthorised access to, make unauthorised alterations to, or introduce any kind of
    malicious code, including any viruses, disabling code, time bombs or Trojan horses, to
    the Bud Platform Service by any means;
  • 5.2.2. except as permitted by law, reverse engineer or decompile (whether in whole or part)
    the Bud Platform Service;
  • 5.2.3. make copies, modify, reproduce, transmit, alter or distribute all or any part of the Bud
    Platform Service or any material or information contained in them, other than as
    permitted by law;
  • 5.2.4. use the Bud Platform Service for any purpose that is unlawful under any applicable law;
  • 5.2.5. use the Bud Platform Service to commit any act of fraud;
  • 5.2.6. use the Bud Platform Service to simulate communications from us or another service or
    entity in order to collect identity information, authentication credentials, or other
    information (‘phishing’);
  • 5.2.7. use the Bud Platform Service in any manner that disrupts its operation.


5.3. You acknowledge and agree that Bud merely introduces you to Third Party Providers and
Distributors and does not provide any advice as to the suitability or appropriateness of
investments provided by Distributors and/or any other product or service provided by Third
Party Providers. You acknowledge and agree that you are not a client of Bud for the
purposes of the Financial Services and Markets Act 2000 or any rules issued by the FCA
and you agree to seek independent advice if you have any queries or concerns about the
financial products.

5.4. If you suspect that there is fraud or a security risk in relation to the Bud Platform Service,
you must immediately contact us using the contact details set out above.


6. Privacy


6.1. We collect and process personal data as part of the Bud Platform Service under the
instruction of your Service Provider. When your Account Data (including any personal data)
is transmitted through the Bud Platform Service to your Service Provider, that Service
Provider (and not us) becomes responsible for it. You should therefore consult the data
privacy terms of your Service Provider and/or Account Provider respectively.


7. Complaints


7.1. We consider a complaint as being defined as an expression of dissatisfaction made by you in
relation to any of the services we provide. In the event that you make a complaint, we will
make every effort to rectify the problem as soon as practicably possible. If you have any
complaints about the Bud Platform Service, you should contact our support team at
support@thisisbud.com and we will try to resolve it as soon as possible. 


7.2. If the nature of your complaint relates to the provision of the Bud Platform Service, we will
send you a final response within 15 business days of the receipt of your complaint. In
exceptional circumstances, we will send you a holding reply specifying the deadline by which
you will receive our response, being no 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.


7.3. If you do refer your complaint to the FOS, this will not affect your right to take legal action.


8. Security of Payment Details


8.1. In this section 8, a reference to security credentials includes (a) any details which you use
to access the Service Provider's application or service and (b) any details which you use to
access your Payment Account using the Bud AI Service or the Bud PI Service.


8.2. You must take all reasonable steps to keep your security credentials safe and you must not
disclose them or allow them to be used by anyone else. You must not leave the device you
are using unattended while you are using the Service Provider&#39;s application or service and
you must make sure that any security credentials stored or displayed on your device are kept
secure.


8.3. If the device on which the Service Provider's application or service is installed is lost or
stolen, or you suspect that another person knows your security credentials, you must notify
us immediately at support@thisisbud.com.


8.4. 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.


9. Termination


9.1. We can terminate, restrict or suspend your access to the Bud Platform Service by immediate
notice in writing (which can include email) to you at any time in the event that:


  • 9.1.1. you are in material breach of any term of these terms and/or any other agreement with
    us; and/or
  • 9.1.2. we suspect that you have accessed or used the Bud Platform Service for the purpose
    of an illegal activity; and/or
  • 9.1.3. we suspect you have given us false information; and/or
  • 9.1.4. we have concerns about the security of the Bud Platform Service; and/or
  • 9.1.5. a device is used that we do not recognise or is used in a way it was not designed for
    (such as  'jail broken' or we detect viruses or malicious software); and/or
  • 9.1.6. we are compelled to do so pursuant to any legal or regulatory requirement; and/or
  • 9.1.7. you apply for bankruptcy or become subject of a bankruptcy petition or order.


9.2. We can terminate this Agreement with you for any other reason (or no particular reason) by
providing you with two months' written notice.


9.3. You have the right to terminate this Agreement at any time without notice by contacting us
using the contact details set out at section 1 above.


9.4. Upon termination of your agreement to these terms for any reason:

  • 9.4.1. all rights granted to you under these terms will cease;
  • 9.4.2. you must immediately cease all activities under these terms, including your use of the
    Bud Platform Service;


9.5. Any of these terms which are expressly, or by implication, intended to come into or continue
in force on or after termination will remain in full force and effect.


9.6. Termination will not affect any rights, remedies, obligations or liabilities of the parties that
have accrued up to the date of termination, including the right to claim damages in respect of
any breach of the terms which existed at or before the date of termination or expiry.


10. Our liability to you


10.1. We will comply with our legal and regulatory obligations to prevent unauthorised access to
the Bud Platform Service and we will accept liability for loss and/or damage to you resulting
from any unauthorised access to the Bud Platform Service, provided that such loss and/or
damage could have been reasonably foreseen by us at the time that you agreed to be bound
by these terms.


10.2. However, you will be responsible for any losses arising from unauthorised access if we
reasonably believe that:


10.2.1. you negligently, or intentionally, failed to take all reasonable precautions to keep safe,
and prevent fraudulent use of your devices and/or security information (in accordance
with section 8 above); or

  • 10.2.2. you acted fraudulently; or
  • 10.2.3. you are aware of the Bud Platform Service being accessed without authority but fail to
    inform us promptly (in accordance with section 8 above).


10.3. We will not be liable to you for any loss or damage if another bank, building society, payment
provider or one of our product partners is responsible for such loss or damage.


10.4. We will not be liable for any loss or damage that you may suffer because of any abnormal or
unforeseeable circumstances outside our of reasonable control which would have been
unavoidable despite all efforts to the contrary, for example, any delay or failure caused by
problems with another system or network, any breakdown or failure of transmission,
communication, data processing or computer facilities, mechanical breakdown, an act of
state or government, war, riot or terrorism, any act of God, the suspension of any market,
postal or other strikes or similar industrial action or any prevention from or hindrance in
obtaining any materials, energy or other supplies necessary for the performance of our
obligations under these terms.

10.5. We have no liability to you for any loss of profit, loss of business, business interruption or
loss of business opportunity.


10.6. We will have no liability for refusing any application submitted by you to register for use of
the Bud Platform Service or any other product or service we may provide.


10.7. We do not exclude or limit in any way our liability to you where it would be unlawful to do so.
This includes liability for death or personal injury caused by our negligence, or the
negligence of our employees, agents, or subcontractors, for fraud or fraudulent
misrepresentation.


10.8. We do not exclude or limit our liability for any failure to perform duties that we owe to you
under the Payment Services Regulations 2017 or under the rules of the FCA.


10.9. The products and services provided by your Service Provider, Account Provider, any
Distributor and/or Third Party Provider are addressed by the agreements that you have with
each of them. As a result, we have no liability for the products and services provided to you
by your Service Provider (except in the event that your Service Provider is operating as an
agent of Bud for the provision of account information services), any relevant Account
Provider, any Distributor or any other Third Party Provider and are not liable to you for any
harm, damage or loss arising from your access or use of those products and services.


11. General


11.1. 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).


11.2. The provisions of these terms are personal to you and you cannot assign or transfer any of
your rights or obligations under them. We can assign or transfer our respective rights and/or
obligations under these terms.


11.3. If any provision of these terms is or becomes illegal, invalid or unenforceable that will not
affect the legality, validity or enforceability of any other provision of these terms.


11.4. These terms are made between you and us. No other person shall have any rights to enforce
any of its terms.


11.5. As our agreement with you has no fixed end date, from time to time we need to be able to
make changes to these terms or to the Bud Platform Services. To the extent these will
materially impact you directly, we will give you at least two months’ notice of such changes.
You must choose whether you agree to the new terms or not. If you do not want to agree to
the change, you must stop using the Bud Platform Service. Your continued use of the Bud
Platform Service following the prior notification of the amended terms will be understood as
your acceptance of the new terms and conditions. During the term of this Agreement, you
may request a copy of the current form of these terms and we will provide you with a copy.


11.6. These terms, their subject matter and their formation, are governed by English law. You and
we both agree that the courts of England and Wales will have exclusive jurisdiction, except
that if you are a resident of Northern Ireland you may also bring proceedings in Northern
Ireland, and if you are resident of Scotland you may also bring proceedings in Scotland.