Kestrl Account Terms & Conditions
These Terms & Conditions apply to your Kestrl account. Please read
them carefully. You can download a copy of these Terms & Conditions at
any time from within your Kestrl app.
The Kestrl account is an e-money service provided by Contis Financial
Services Ltd.
-
“Distributor” means a third party who may distribute the account to you
on our behalf.
-
“You” means the named account holder being the authorised user of the
Kestrl account.
-
“We”, “us” or “our” means Contis Financial Services Ltd or the
Distributor acting on our behalf.
If you have any questions you can contact Customer Services via live chat.
The live chat is available in the mobile app by clicking Contact Us.
Alternatively, you can email "support@kestrl.io".
Your Kestrl account is issued by Contis Financial Services Limited,
Navigation House, Belmont Wharf, Skipton, North Yorkshire, BD23 1RL, who
is authorised by the Financial Conduct Authority under the Electronic
Money Regulations 2011 (registered number 900025) as an e-money issuer.
1. What is a Kestrl account?
A Kestrl account is an electronic money account from which you can make
and receive payments to and from a limited range of accounts.
You can only spend money that you have paid into your account, so before
making transfers, you need to make sure there are enough funds in the
Kestrl account. Monies in the Kestrl account are not bank deposits and do
not earn interest.
2. Who can apply for a Kestrl account?
You must be at least 18 years old and a UK resident to be issued with a
Kestrl account. You must provide an email address and mobile phone number
to open an account so that we can communicate with you.
3. How can I apply for the Kestrl account?
You can apply through the Kestrl app.
Before we can open an account for you, we will require evidence of your
identity and we may require evidence of your residential address. You may
need to provide us with documents such as a passport, driving licence,
national identity documents, utility bills, bank statements or other
documents to confirm your identity. We will also need to carry out checks
on you electronically.
4. How do I get started?
Log into your online account using the username and password we have
provided to you. You must change these details when you first login.
By logging into your account you are agreeing to these Terms &
Conditions.
5. How do I add funds to the Kestrl account?
You may pay into your account, by transfer from a bank account, and any
other method notified in your app from time to time. The time taken to
credit funds to your account will depend on the method of deposit used.
You cannot pay into your account by a balance transfer from a credit card.
You may only pay in funds up to your maximum account balance.
Certain minimum and maximum limits and usage requirements apply to your
account; such limits and requirements are detailed in the Fees and Limits
table (section 29). We reserve the right to refuse to accept any
particular payment if we suspect any fraudulent activity or in the event
of other exceptional circumstances.
As soon as we receive the funds that you have paid in, they will be on
your account and ready to use. There may be occasions when we delay the
funds reaching your account for up to three working days, which may happen
when we need to confirm the transaction with the sending bank.
Where an overpayment has been made to your account in error, we reserve
the right to debit the account with the excess amount to correct the
payment transaction.
You may transfer funds to your eggs within your account; details are
available on the Kestrl App. You are responsible for ensuring there are
enough funds in your available balance for us to authorise your
transactions.
6. What transactions can I make?
-
Faster Payment to a UK bank account- you can send a faster
payment to an account in your name as agreed with Kestrl using the sort
code and account number, you can check if a sort code accepts faster
payments athttp://www.fasterpayments.org.uk/consumers/sort-code-checker. You should make sure that the sort code and account number are
correct before you submit the transaction. Faster payments can be sent
on the day you authorise the transaction, for a date in the future that
you specify or as a regular payment at the dates and frequency you
choose. Same day faster payments will ordinarily be available at the
receiving account within two hours of being submitted.
A transaction is authorised by you when you access your Kestrl account
using your personal security details and submit a faster payment or
transfer request.
You must ensure that you input the correct bank account details for any
payment you request from your account.
You may be required to enter a one-time passcode or other security
information including, if available and you opt for this type of
identification, biometric information to authorise a transaction or make
account amendments. One-time passcodes will be sent to the mobile phone
number registered to your account.
As soon as a transaction is authorised, we will deduct the value of your
transaction from the available balance on your account. A full breakdown
of each transaction will be available to view in your Kestrl app.
Once we have received authorisation for a transaction, we will transfer
funds to a bank or financial institution on the day we receive the
authorisation or the day you requested the payment to be made for future
dated transactions.
A transaction will be received for faster payment transactions at the time
you ask us to complete the transaction. Same day faster payments will
ordinarily be available at the receiving account within two hours of being
submitted.
7. Can I cancel a transaction?
Generally, authorisation for a transaction may not be withdrawn by you.
However, you may be able to withdraw your authorisation where you have
authorised a transaction which will take place on a future date. However,
where a specific date is agreed, you may not revoke a payment order after
the end of the business day preceding the agreed date.
8. Is there anything I can’t buy with my Kestrl account?
You may not use your account for illegal purposes. It also cannot be used
for a limited number of specified transactions. Please see our website for
details.
9. How can I check my Kestrl account?
-
information on the payee of each transaction and a reference enabling
you to identify each payment transaction;
-
the amount of the transaction shown in the currency in which the
transaction was paid or debited to the account;
- the amount of charges for the transaction;
-
the exchange rate used in the payment transaction (where applicable);
and
the date the transaction is authorised or posted on to the
account.
This information is accessible at all times via your app, is available
free of charge, and can be stored and reproduced as necessary.
You may, in addition, be required to enter a one-time passcode or other
security information including, if available and you opt for this type of
identification, biometric information to access your account. One-time
passcodes will be sent to the mobile phone number registered to your
account.
10. Does the Kestrl account have spending limits?
You can only spend the money that is paid into your account. Limits may be
applied to the amount of spend and the number of transactions you can
perform. See the Fees and Limits table (section 29) and your app for
further details.
If, for any reason, the transaction is completed when there are
insufficient funds in your account, you will have to reimburse the
shortfall to us.
We may collect this shortfall from any account you have with us or from
any funds which you subsequently pay into your account. We may suspend
your account until the negative balance is restored and charge you an
Administration Fee (see the Fees and Limits table (section 29)).
11. What if I have a dispute about a transaction?
If you dispute a transaction you should contact us without undue delay and
in any event within 13 months on becoming aware of any unauthorised or
incorrectly executed payment transaction.
- refund the amount of the unauthorised payment to you; and
-
restore the debited payment account to the state it would have been in
had the unauthorised payment not taken place.
Beyond this, we will have no further liability to you. Where payee details
provided by you are incorrect, we are not liable for non- execution or
defective execution of the payment transaction, but we will make
reasonable efforts to recover the funds involved in the payment
transaction and notify you of the outcome.
-
the transaction was not authorised under these Terms and Conditions;
-
we are responsible for a transaction which we fail to execute or
incorrectly execute. In these circumstances, we will refund to you the
amount of the non-executed or defective payment transaction and restore
the debited payment account to the state in which it would have been had
the defective payment transaction not taken place. We will also refund
to you: (a) any direct charges for which you are responsible; and (b)
any interest which you must pay, as a consequence of the non- execution
or defective execution of the payment transaction; or
-
a pre-authorised transaction did not specify the exact amount at the
time of its authorisation and the amount charged is more than could
reasonably be expected, taking into account previous spending patterns
on the account and the circumstances of the transaction. We will either
refund the full amount of the payment transaction; or provide
justification for refusing to refund the payment transaction. Any refund
or justification for refusing a refund will be provided within ten
business days of receiving a request for a refund or, where applicable,
within ten business days of receiving any further information requested.
A claim for a refund in these circumstances will not be accepted if the
amount of the transaction was made available to you at least four weeks
before the transaction date or if the claim is made more than eight
weeks after being charged to your account.
12. What about security?
You must keep your security credentials safe and not let anyone else know
or use them. You must keep your security information secret at all times;
never disclose your security information to anyone. Security information
includes your login and password details used to access your account. We
also recommend that you check the balance on your account regularly on the
mobile app.
13. What if my Kestrl account details are compromised?
If you suspect that someone else has found out your security information
or accessed your account without your permission, you must tell us without
undue delay by logging onto your account through the mobile app and
notifying us. Your account may be blocked.
If you ask us to do so and provided that you provide information and
assistance that we request from you, we will investigate any disputed
transaction or misuse of your account.
If the investigations show that any disputed transaction was authorised by
you, or you have acted fraudulently or with gross negligence (for example,
by failing to keep your account security information secure or by failing
to notify us without delay on becoming aware of the loss, theft,
misappropriation or unauthorised use of the account), then we will not
refund the transaction amount and you will be fully liable for all losses
incurred because of the unauthorised use of the account.
If the investigations show that you have not acted fraudulently or with
gross negligence, your maximum loss or liability to us for any
unauthorised transaction will be limited to £35 and we will process a
refund as soon as practicable, and, in any event, no later than the end of
the business day following the day after we receive your notification.
14. Will you ever block a transaction without me asking?
-
if we are concerned about security of your account or we suspect your
account is being used in an unauthorised or fraudulent manner;
-
if sufficient funds are not paid into your account at the time of a
transaction to cover the amount of the transaction and any applicable
fees;
- if there is negative balance on your account;
-
if we have reasonable grounds to believe that you are not using the
account in accordance with these Terms & Conditions;
-
if we believe that a transaction is potentially suspicious or illegal
(for example, if we believe that a transaction is being made
fraudulently); or
-
because of errors, failures (whether mechanical or otherwise) or refusal
to process a transaction by merchants, payment processors or payment
schemes such as Faster Payments.
If we refuse a transaction, we will tell you why immediately, if we can,
unless it would be unlawful for us to do so. You may correct any
information we hold and which may have caused us to refuse a transaction
by contacting Customer Services.
15. Can I cancel my Kestrl account?
You have a legal right to cancel your account up to fourteen days from the
date your account is opened without incurring any penalty. You can also
cancel your account any time after the 14 day period subject to a
Redemption Fee (the Fees and Limits table (section 29)) by contacting
Customer Services.
Any fees and charges will be apportioned up until the time of the
termination of the contract, and any 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 account before the account is cancelled or expires.
16. Could my Kestrl account be cancelled?
-
if you break an important part of this agreement, or repeatedly break
the agreement and fail to resolve the matter in a timely manner;
-
if you act in a manner that is threatening or abusive to our staff, or
any of our representatives; or
-
if you fail to pay fees or charges that you have incurred or fail to pay
back any negative balance on your account.
- suspect unauthorised or fraudulent use of your account;
- have any other security concerns; or
- need to do so to comply with the law.
We may also deny access to your account where we consider it to be at risk
of money laundering or terrorism financing, fraud or other criminal
activity. Should we need to take these actions and where possible, we will
give reasons for doing so except where restricted by law.
In these circumstances, you must tell us what you want us to do with any
unused funds. You must do this within three months of the date we tell you
that your account is cancelled.
17. Can I get money back once I have put it on?
You can clear the balance on your account by making transfers to other
bank accounts in British Pounds Sterling. See the Fees & Limits table
(section 29) for the fees that would apply.
-
you are requesting redemption before termination or expiry of this
agreement;
-
you cancel this agreement before any agreed termination or expiry date;
or
-
you request redemption more than one year after the date of termination
or expiry of this agreement.
If one of these situations does apply then we will charge a Redemption Fee
(see the Fees and Limits table (section 29)).
We will not redeem the value of the funds on your account to you if your
request for redemption of the funds is more than six years after the date
of termination or expiry of this agreement.
All funds will be returned to a bank account of your choice in British
Pounds Sterling. We reserve the right to see proof of your ownership of
the bank account before transferring funds to it. To enable us to comply
with our legal obligations, we may ask you to provide us with certain
information such as identification documents before we can process your
refund request.
Please also refer to section 24 below for the circumstances in which we do
not give you a refund.
18. Is money on my Kestrl account protected like my bank account?
The account is an electronic money product, and although it is a product
regulated by the Financial Conduct Authority, it is not covered by the
Financial Services Compensation Scheme. No other compensation scheme
exists to cover losses claimed in connection with the account. We will,
however, ensure that any funds received by you are held in a segregated
account so that, should we become insolvent your funds will be protected
against claims made by our creditors.
19. What if I have a complaint?
If you are unhappy in any way with your account or the way it is managed,
you can contact Customer Services so we can investigate the circumstances
for you. Any complaints you have will be dealt with quickly and fairly.
We will make every possible effort to address all points of complaint by
email. We will respond within fifteen business days upon receiving the
complaint. If a full response cannot be provided within these timeframes,
we will send a holding reply with a full response to follow within
thirty-five business days.
If we are unable to resolve your complaint to your satisfaction, you may
contact the Financial Ombudsman Service at Exchange Tower, London, E14
9SR. Telephone: +44 (0)800 023 4 567 from landlines, +44 (0)300 123 9 123
from mobile phones or +44 (0)20 7964 0500 for calls from outside the UK
and email:complaint.info@financial-ombudsman.org.uk.
20. What if I change my details?
You must let us know as soon as possible if you change name, address,
telephone number, mobile number or email address. If we contact you in
relation to your account, we will use the most recent contact details you
have provided to us. Any email or SMS text message sent to you will be
treated as being received as soon as it is sent by us. We will not be
liable to you if your contact details have changed and you have not told
us.
21. What will happen to my personal information?
We are the controller of your personal data which we will use in order to
open, administer and run your account and provide payment services to you.
You hereby consent to us accessing, processing, and retaining any
information you provide to us, for the purposes of providing payment
services to you or otherwise to fulfil this agreement. For further
information about how we will process your personal data, please view our
Privacy Policy athttps://www.contis.com/downloads/Contis-Privacy-Policy-General.pdf. You may withdraw your consent to the processing of this data by closing
your account.
22. Will these Terms & Conditions ever change?
We may change these Terms & Conditions by notifying you by email or
other agreed means at least two months before the change is due to happen.
We will assume that you agree with the change. If you do not agree with
the change you must tell us before the change happens and we will cancel
your account immediately. If you cancel your account in this way then we
will return any balance on the account to you and you will not be charged
a redemption fee.
An up-to-date version of the account Terms & Conditions, as well as
any notices of future changes, will always be available via our app and
athttps://kestrl.io/docs/terms-of-use. You should check our app regularly for such notices and changes.
23. When may use of the Kestrl account be interrupted?
From time to time, your ability to use your account may be interrupted;
e.g. when we carry out systems maintenance. If this happens, you may be
unable to obtain information about the funds available in your account
and/or about your recent transactions.
24. What is our responsibility?
If we incorrectly deduct funds from your account, we will refund them. If
we subsequently establish that the refunded amount had in fact been
correctly deducted, we may deduct it from your available balance and may
charge you a fee. If you do not have sufficient available balance, you
must repay us the amount immediately on demand.
If unauthorised transactions occur after you have notified us of the loss,
theft, compromise or unauthorised use of your account, and you have not
acted fraudulently or in breach of these Terms and Conditions, then we
will be liable.
-
for any interruption, disruption or impairment of our service or any
third party services on which we rely for the performance of our
obligations hereunder;
- for refusing to authorise a transaction;
- for cancelling or suspending use of account;
-
for any loss arising from your inability to access your account due to
interruptions;
-
for any direct or indirect loss or damage you may suffer including loss
of revenue, loss of reputation, goodwill, opportunity or anticipated
savings as a result of your total or partial use or inability to use
your mobile app, or account or the use of your account by any third
party (unless otherwise required by law);
-
for the quality, safety, legality or any other aspect of any goods or
services purchased with your account; and
-
any abnormal and unforeseeable circumstances beyond our control, however
so caused.
For the SMS services we offer, we are not responsible for lost, late or
undelivered text messages, notifications or communications. We accept no
responsibility for any technical, computer, online, telephone, cable,
electronic, software, hardware, transmission, connection, internet,
website or other access issue which may hinder your ability to access the
SMS services.
Nothing in these Terms and Conditions shall operate to exclude liability
for death or personal injury due to negligence or for fraud or fraudulent
misrepresentation, or for any statutory liability that cannot be excluded
or amended by agreement between the parties.
25. When can I be charged (other than the fees in section 29)?
- use your account fraudulently;
-
do not use your account in accordance with these Terms & Conditions;
or
-
have been grossly negligent, for example by failing to keep your account
secure or by failing to notify us without delay after your account has
been used by someone else or where your account has been compromised.
In these circumstances we will not refund transactions and we reserve the
right to charge you for any reasonable costs that we incur in taking
action to stop you using your account and to recover any monies owed as a
result of your activities.
If you have not been fraudulent or grossly negligent, and have used your
account in accordance with these Terms & Conditions, your maximum
liability for any unauthorised transaction resulting from the use of
compromised account details before you notify us will be £35.
We may also charge you an Administration Fee if we have to manually
intervene to complete a payment or rectify an error on the account caused
by an error or omission on your part.
26. Am I permitted to give access to Third Party providers?
You may allow regulated Third Party Providers (“TPPs”) (including Account
Information Service Providers (“AISPs”) and Payment Initiation Service
Providers (“PISPs”)) access to your online account, either to make
payments, obtain account balances or obtain information on previous
transactions.
-
ensure that the TPP is authorised and holds the correct regulatory
permissions;
-
check what level of access you are consenting to, how your account will
be used and the extent to which your data will be shared with third
parties; and
-
familiarise yourself with your obligations and rights under the TPP
agreement, in particular your right to withdraw consent to access your
account.
We may refuse to allow a TPP access to your account where we are concerned
about fraudulent or unauthorised access.
-
any loss whatsoever, as a result of using a TPP and entering into a TPP
agreement; and
-
any actions that the TPP takes in relation to suspending or terminating
your use of their service or for any resulting losses.
27. Can I assign my rights or obligations under these Terms and
Conditions?
You may not transfer or assign any rights or obligations you may have
under these Terms & Conditions to any other person without our prior
written consent. We may assign the benefit and burden of these Terms &
Conditions to any other person at any time on giving you two months prior
notice of this. If we do this, your rights will not be affected.
28. Governing law
This Agreement is concluded in English. All communications with you will
be in English. These Terms & Conditions will be construed in
accordance with English law and the exclusive jurisdiction of the English
courts.
29. What are the fees and limits?
ACCOUNT LOAD FEES |
Monthly Management Fee
|
Free |
Bank transferAdd funds to your Kestrl account by bank transfer from a UK bank
account.
|
Free (maximum £10,000 balance)
|
FUNDS MOVEMENT AND TRANSFER FEES |
Future dated transfer from accountTransfer money to a UK bank account in three working days.
|
Free |
Next day transfer from accountTransfer money to a UK bank account on the next working
day.
|
Free |
Same day Faster Payment transfer from accountTransfer money to a UK bank account on the same day via Faster
Payments.
|
Free |
OTHER FEES |
Email AlertsOptional service for confirmation of statement generation, bank
transfers from account and marketing messages.
|
Free |
Statements online (per 62 days)
|
Free |
Inactivity/dormancy fee
|
Free |
Redemption feeWhen you request a funds transfer on closing of the
account.
|
Free |
LIMITS |
Minimum single pay-in
|
£0.00 |
Statements online (per 62 days)
|
£10,000.00 |
Your Kestrl account is issued by Contis Financial Services Ltd who is
authorised by the Financial Conduct Authority to issue e-money (Firm
Reference Number: 900025). Registered head office is Navigation House,
Belmont Wharf, Skipton, North Yorkshire, United Kingdom BD23 1RL.
Please note that yourKestrl accountis an electronic money product
and although it is a product regulated by the Financial Conduct Authority,
it is not covered by the Financial Services Compensation Scheme. We ensure
that any funds received by you are held in a segregated account so that,
in the unlikely event that Contis Financial Services Ltd becomes
insolvent, your funds will be protected against claims made by creditors.