Terms of Use

1. Our agreement

Kestrl Ltd ("Kestrl", “Kestrl app”, "our", “we” or "us" (as applicable)) is a company registered in England and Wales whose registered office is at City Point, 1 Ropemaker Street, London, England, EC2Y 9HT, and whose registered number is 12297799.

Kestrl is registered with the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. Reference no.927200.

By accessing or using the Kestrl Technologies website, or any Kestrl applications (including the mobile application (the "App")) made available by Kestrl, you confirm that you accept these terms of use ("Terms of Use") and that you agree to be bound by them. If you do not agree to these Terms of Use, you must not use the services provided through the App. The services are owned, operated and controlled by Kestrl Ltd.

Any reference to Kestrl’s "Terms of Use" has the same meaning as "Terms and Conditions". Where a reference is made to Kestrl’s Terms and Conditions it has the same meaning as Terms of Use, and is always in reference to this document.

These Terms of Use (together with our Privacy Policy) set out the terms on which you may make use of the services and set out in detail your rights and responsibilities to us and our rights and responsibilities to you during your use of the Service.

Please read these Terms of Use carefully before you start to use the services as they will apply to your use of the services.

2. The Open Banking Service

Kestrl provides a personal finance information management service that allows you to consolidate and track your financial information (the "Open Banking Service"). By using the Open Banking Service you warrant that you are at least 18 years old and a resident of the United Kingdom.

The Open Banking Service will allow you to:

  • upload details of your accounts maintained at third party sites ("Accounts");
  • access details of transactions and balances on Accounts;

Alongside this, Kestrl provides non-open banking services (the "General Service") that allow you to access a range of ethical and sharia-compliant investment opportunities. The General Service will allow you to:

  • access information from our marketplace (“Marketplace or “third-party”) providers about your marketplace activity.

The purpose of the Open Banking Service and the General Service (collectively the “Services”) is to show you all your financial information in one place and to provide an investment Marketplace with a range of ethical and sharia-compliant investment opportunities. We monitor and analyse your Personal Account. Based upon our algorithm, we identify recurring payments, overdrafts, low balances, refunds and other elements that are displayed to you.

3. Access to the Open Banking Service

Access to the Open Banking Service will be through our App. Your use of the App remains at all times subject to the terms and conditions and privacy policies of the relevant app store from which you downloaded it, being either the Google Play store or the Apple App Store, each an "App Store". To the extent that there is a conflict between those terms and conditions and these Terms of Use, these Terms of Use shall take priority.

If you purchase a product from the Marketplace through our App, you will be subject to the terms and conditions and privacy policy of the Marketplace provider whose products you purchase. More information on this is provided under clause 5, ‘Our Marketplace Affiliates’.

You must not allow anyone to access the Open Banking Service on your behalf. You must treat as confidential the information you provide as part of our security procedures, and you must not disclose it to any third party.

Some of our services are provided by our Trusted Partner, TrueLayer Ltd (“TrueLayer”). This means that although we at Kestrl Ltd aim to ensure our app is available to you at all times, we cannot guarantee it will always work perfectly due to events outside our control.

4. Access to Personal Accounts

To use the Open Banking Service, you must first provide your Personal Account login details to our Trusted Partner, TrueLayer Ltd (“Trusted Partner”). Kestrl is acting as an agent of TrueLayer Ltd, who is providing the regulated Account Information Service and who is authorised by the Financial Conduct Authority as an Authorised Payment Institution (reference number. 793171).

Our Trusted Partner will then automatically download transactional information relating to your Personal Account(s) and continue to do so at certain times until you withdraw your consent for it to do so. Our Trusted Partner will only provide us with a ‘screen grab’ of your Personal Account transaction information and will not initiate any payments from your Personal Account(s).

You grant to us and our Trusted Partner a non-exclusive, royalty-free licence to use the information in your Personal Account(s) for all purposes connected with the Open Banking Service or referred to in these Terms or the Privacy Policy, with the right to use, modify, display, distribute and create new material using or incorporating such information to provide the Open Banking Service to you. Our Trusted Partner and us may also use, sell, license, reproduce, distribute and disclose aggregate, non-personally identifiable information that is derived through your use of the Open Banking Service. By submitting information, you agree (without the payment of any fees), that our Trusted Partner and us may use the information for the purposes set out above.

You are permitted to use content delivered to you through the Open Banking Service only on our App. You may not copy, reproduce, distribute, or create derivative works from this content.

By providing your account details to our Trusted Partner, you agree and grant our Trusted Partner permission to aggregate your personal data, which may then be stored outside of your own country to the extent permitted by applicable law.

You agree that when we retrieve your information relating to your Personal Accounts or your information required as part of the provision of the Open Banking Service, we are doing so as your representative and, on your behalf, and not on behalf of or in the name of any third party.

You agree that we will be entitled to disclose your identity and information relating to your Personal Account(s) to third parties if we are required to do so by any applicable law or court order.

We do not check the accuracy of the Personal Accounts information and personal information you provide to us and we rely on you and your Personal Account providers to ensure that the Personal Accounts information and personal information you provide to us is up to date and accurate.

By using the Open Bank Service, you represent that you are the legal owner of the data in your Personal Accounts and that you have the authority to appoint, and do expressly appoint, our Trusted Partner and/or its third party providers as your agent and grant a limited power of attorney to access and retrieve such data on your behalf.

For our compliance purposes and in order to provide the Open Banking Service to you, you hereby authorise us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and Personal Account information. When you register for the Open Banking Service and from time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you.

When you sign up to Kestrl Ltd you will create a login with a passcode that is unique to you. We will store your passcode securely and we suggest that you ensure it is not shared with family, friends or anybody else. This could result in an unauthorised person having access to your account.

You are also able to sign into Kestrl using biometric data (fingerprints and face ID). We use the biometric data that is already stored on your device to grant you access to your Kestrl account. We do not hold or store any of your biometric data. Some devices allow you to store multiple people’s biometric data. If you do this, we strongly suggest you do not share your device with anybody who is not authorised to access your Kestrl account. This could result in an unauthorised person having access to your account.

You agree that our third-party services providers are third-party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms.

Owing to the nature of our Open Banking Service, we may store information such as your customer account records, tax records and lending records. This enables us to serve you well and to comply with legal and regulatory requirements. The length of time we hold your information for depends on the nature of the information itself and can be up to six (6) years. For more information on this, please see our Privacy Policy.

5. Our Marketplace affiliates

Some of our products and services accessible through our App may include materials, promotions of and links to third parties (our Marketplace affiliates). Our Marketplace affiliates may offer investment products or non-investment products.

A third-party link on our App will direct you to a co-branded landing page on a third-party website. We do not warrant and do not take any responsibility or have any liability for third-party materials, products or services. The links to such sites constitute marketing, advertising, and promotion of the brand to whom the link belongs and does not constitute investment advice of any kind.

We are not liable for damages, harm, loss of business or goodwill, financial or economic loss of any kind and loss of data related to the purchase of goods and services from third parties via our App.

We are not responsible for handling any claims, complaints, questions or queries relating to our third-party products and all such concerns should be directed to the relevant third-party.

Your interaction with third party websites and services through links on our App are subject to the rules and policies of the relevant third-party website or service. You are responsible for reading and reviewing any third party’s terms of service and other relevant policies including their privacy policy. Please make sure you understand and agree with such policies before engaging in any transaction with any third-party Marketplace affiliate via our App.

6. National Zakat Foundation

Kestrl’s Zakat calculation tool is provided by its Zakat partner: the National Zakat Foundation. The National Zakat Foundation is a UK based charity with the charity number 1153719.

By using Kestrl’s Zakat calculation tool, you automatically agree to National Zakat Foundation’s Terms and Conditions, Privacy Policy, Cookie Policy and Donor’s Complaints Policy.

Kestrl acts as a marketplace that puts you in touch with the National Zakat Foundation through a link in our app. The National Zakat Foundation’s zakat calculation and payments services are accessible through Kestrl’s in-app link, which opens a new window to the National Zakat Foundation’s calculation and payments tool.

The in-app links do not imply any endorsement of content, statements, advice, or opinions of the National Zakat Foundation. Kestrl is not responsible for the quality of service provided by the National Zakat Foundation, and it holds no legal responsibility for any elements of the National Zakat Foundation’s service.

Kestrl is not responsible for financial losses or consequences of any kind suffered by you as a result of payments made to the National Zakat Foundation.

Kestrl will not process or access any of your personal information in its provision of this service. This does not exclude Kestrl’s processing of your personal information for the purposes of its provision of other features within the app. Please read section 4 of these terms and conditions, as well as our Privacy Policy, for more information.

If you have any complaints, claims, questions or queries, or if you make a wrongful payment while using this product, you can raise the issue directly with the National Zakat Foundation, through their customer support page. Kestrl will not deal with any such concerns related to its National Zakat Foundation product.

Kestrl does not use any cookies in its provision of this service. Upon accessing the National Zakat Foundation’s calculation and payments tool, there may be cookies sent to your browser, depending on your browser preferences. You can control the way cookies are handled through changing your browser settings.

7. Your behaviour toward Kestrl

You must not access without authority, penetrate, interfere with, damage or disrupt (or attempt to do any of the same) any part of the Services, or its security measures, any servers, other equipment or networks connected to either the Services, on which they are stored or any software used in the provision of the Services, including in each case by transmitting any worms, computer viruses, malware, logic bombs, Trojan horses, spyware, harmful components or any other software, code or data of a corrupt, destructive, malicious or disruptive nature (together "Viruses").

You may not inject content or code or otherwise alter or interfere with the way any page of the Services is rendered or displayed in a user’s browser or device.

You must not access the Services via a means not authorised by us, including, but not limited to, automated devices, scripts, bots, spiders, crawlers or scrapers (except for standard search engine technologies which are used by a search engine with our (express written consent).

You must not change, modify, adapt or alter the Services or change, modify, adapt or alter another website so as to inaccurately imply an association with the Services or with Kestrl.

We do not accept unsolicited content, information, ideas, suggestions or other materials except where we have set out specific criteria and conditions for submitting them and you agree not to submit them except in accordance with those criteria and conditions.

Where you do submit unsolicited content, information, ideas, suggestions or other materials in breach of this paragraph 6, you agree that we may use such content, information, ideas, suggestions or other materials for any purpose whatsoever, including, without limitation, developing and marketing products and services without any liability or payment or recognition of any kind to you.

8. Web data: charges and security

You agree that you are responsible for any and all data charges you incur from mobile service providers, internet service providers or other data providers in using the Service.

We cannot guarantee that the Services will always be free from Viruses. You are responsible for configuring your information technology (including your mobile telephone) in order to access the Services and for the security of your internet connection. You should use your own virus protection software.

9. Our right to vary these terms

We expect to need to update or amend these Terms from time to time to comply with law or to meet our changing business requirements.

We reserve the right, in our sole discretion, to change these Terms of Use from time to time ("Amended Terms"). Unless we make a change for legal or administrative reasons, we will provide reasonable advance notice before the Amended Terms take effect. You agree that we may notify you of the Amended Terms by posting them on the Kestrl’s app and website. Your use of the Services after the effective date of the Amended Terms (or engaging in such other conduct as we may reasonably specify) constitutes your agreement to the Amended Terms and the Amended Terms will apply to your use of the Services from that point forward. These Terms of Use will continue to govern any disputes arising before the effective date of the Amended Terms.

10. Warranties

You expressly understand and agree that:

  • Your use of the Services and all information, products and other content (including that of third parties) included in or accessible from the Services is at your sole risk.
  • The Services are provided on an "as is" and "as available" basis. Our Trusted Partner and us expressly purpose and non-infringement.

Our trusted partner and we make no warranty that:

  • the Services will meet your requirements;
  • the Services will be uninterrupted, timely, secure, or error-free;
  • the results that may be obtained from the use of the Services will be accurate or reliable;
  • the quality of any products, services, information, or other material purchased or obtained by you through the Services will meet your expectations; or
  • any errors in the technology will be corrected.

We and our Trusted Partner make no guarantees that the information published on our App will be correct or up to date at the time you have accessed it. We aim to provide correct and up to date information to the best of our ability, but we cannot guarantee information will be as such at the time it is accessed.

Any material downloaded or otherwise obtained through the use of the Services is done at your own discretion and risk and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from our Trusted Partner or us through or from the Services will create any warranty not expressly stated in these Terms.

11. Our liability

If we fail to comply with these Terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breach of these Terms or our negligence, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if it is an obvious consequence of our breach or if it was contemplated by you and us at the time we entered into this Contract.

We are not regulated by the Financial Conduct Authority (FCA) as providers of investment advice which means we do not give financial and investment advice. Nothing on our App, including our promotion of third-party providers who offer investment products on our Marketplace, is financial or investment advice as defined in the FCA Handbook PERG 8.24.1.

If you rely on information or material provided by us and end up suffering a financial loss as a result of your reliance, we are not responsible or liable to you.

Where you purchase an investment product offered by any of our Marketplace partners, you understand, agree and acknowledge that your capital is at risk – including the risk of losing your entire principle investment amount. You are not covered by the Financial Services Compensation Scheme with us or our Marketplace partners unless one of our Marketplace partners explicitly states otherwise. You should consider whether an investment is suitable and right for you in light of your knowledge and experience regarding financial matters, investment objectives and your personal financial means before purchasing any investment product.

Where you purchase a non-investment product offered by any of our Marketplace partners, you understand, agree and acknowledge that we are not responsible for any loss or damage you may incur as a result of your purchase or any errors, defaults and omissions of any of our Marketplace providers.

Please ensure you read the Risk Warnings provided by each of our Marketplace partners before committing to purchase any of their products.

The Kestrl app is for personal and domestic use only. If you use the Kestrl app for commercial, business or resale purposes and end up suffering loss of revenue, loss of business, loss of profit, business interruption, opportunity and any other loss related to your business activity, we are not responsible for your loss and we are not liable to you.

We are only responsible and liable to you if the cause of such a loss is from our deliberate failure to protect your data and information in a way that is designed to harm you, and from our deliberate breach of these Terms of Use in a way that is designed to harm you.

Our Trusted Partner (TrueLayer) will not be liable to you in connection with the Open Banking Service (including your use or inability to use the Open Banking Service) for:

  • loss of profits or goodwill;
  • any statement or conduct on or via the Open Banking Service by any third party;
  • loss of data which is caused by factors other than negligence or breach of statutory duty on the party of us or our Trusted Partner;
  • the acts or omissions of the providers of your Personal Account(s);
  • the cost to you of obtaining goods or services as substitutes for the Open Banking Service; or
  • any other loss or damage suffered by you in connection with the Open Banking Service.

We are not a financial adviser, and the Services are not intended to provide financial advice. Your financial situation is unique, and we do not make any recommendations, representations, warranties, or guarantees of any kind that the Services are appropriate for you.

You should not rely on financial information, content or materials on the Kestrl app as investment advice, a substitute to investment advice or as the sole basis for making a financial decision. We are not liable for any action resulting from your reliance on information, content and materials found on our app or any losses suffered as a result. We are not liable for third-party sites or services linked through our app, nor your use of or reliance on such sites. We are not responsible for any dealings between you and third parties found or accessed through our app.

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