USER TERMS AND CONDITIONS

1.1 Account Information Service. The Ecospend Account Information Service (“AIS”) is a bank-independent service, provided by Ecospend Technologies Limited (“Ecospend”) (reg. no. 11114967), a British payment institution authorised by the Financial Conduct Authority (“FCA”) to provide account information services (FRN 829713), which enables you (“you” or the “User”) to extract account information data and certain related identifying information from your online bank and the bank account(s) chosen by you, to be submitted to a third party, such as another bank, credit institution or other designated recipient having a contract with us and you (the “Merchant”) for the purpose of e.g. verifying your identity and bank account, reducing the risk of fraudulent transactions with respect to your bank account, and for such other purposes as agreed between you and the Merchant. The account information data and certain identifying information may be shared with the Merchant as it is or after being compiled by Ecospend into a report in a predefined format. The data that is shared and how such data is shared depends on the terms as agreed between you and the Merchant. AIS includes an interface between you and your online bank, designed specifically to allow you to execute a swift and secure identification and bank account verification transaction by extracting certain information from your bank account. The information extracted may include bank name, bank address, account name, account type, account number or IBAN, bank routing number, bank account balance (for identification and verification purposes only), Sort Code, account holder name, address, e-mail, and phone number, financial institution number, and/or BSB number. The specific information which is extracted depends upon where you are located and what information is available. The Ecospend interface available to you through Ecospend’s AIS allows you to extract such account information data without any additional software or registration requirements.

1.2 Manual Entry Data.  If you prefer to not use the AIS interface to your online bank, you may use the Trustly, Inc. Manual Entry Data (“MED”) interface which does not connect to your online bank. When using MED, you will have to manually enter your bank account number and other bank account identifying information such as routing number, I-Ban, B-Ban, branch transit number, BSB number, and/or financial institution number into the MED interface provided by MED. Trustly, Inc will match such information to Trustly, Inc’s bank account information databases. The account information you enter and the identifying information gathered by Trustly, Inc may be shared with the Merchant as it is or after being compiled by Trustly, Inc into a report in a predefined format. The data that is shared and how such data is shared depends on the terms as agreed between you and the Merchant. For the avoidance of doubt, the MED option does not constitute a so-called account information service in accordance with Directive (EU) 2015/2366 of the 25 November 2015 on payment services in the internal market.

1.3 AIS and MED are collectively referred to herein as the “Service”. The Service is not offered by or affiliated with your bank. The Service is provided to you, upon and in accordance with your request. AIS is provided to you by Ecospend through the Merchant. MED is provided to you, upon and in accordance with your request, by Trustly, Inc., a Delaware corporation, through the Merchant. Ecospend and Trustly, Inc., being affiliates, are referred to collectively herein as "Trustly" or “Us”. Please read these Terms and Conditions carefully. In case you do not accept the Terms and Conditions, do not proceed with use of the Service. By using the Service, you agree to these Terms and Conditions as set forth in this Agreement at the time of using the Service. The Terms and Conditions may be revised from time to time without prior notice and you must therefore ensure that the terms are reviewed in each case before proceeding with use of the Service. In the event of a change of the terms, the revised version will be labelled with a new version number. In certain cases, special terms and conditions may supplement these Terms and Conditions. In case of a contradiction between these Terms and Conditions and such special terms and conditions, the regulations set forth in said special terms and conditions shall prevail. You are entitled to receive these Terms and Conditions in the physical form of a document or in some other permanent form, by contacting our Support Team (see contact details in Section 11 below).

1.4 Once you have entered all required details into the various parts of the Trustly online interface for either AIS or MED and clicked “continue”, you will be deemed to have expressly requested and approved that account information data and certain identifying information be collected and shared with the Merchant in accordance with these Terms and Conditions. If you use AIS, the processing time for the collection of the data varies depending on how long it takes to identify such information against your bank and the amount of information extracted. If you use MED, the processing time for the collection of data also varies depending upon how long it takes to identify such information against Trustly’s bank account databases. Regardless, such processing will be completed as soon as possible after your approval. Please note that MED may result in a slower verification process than AIS. In addition, processing of your banking information may be delayed or may fail if you enter inaccurate, incomplete, or incorrect information when using MED.

¹Account information data may consist of bank account number and other financial information, such as the balance on the bank account(s) from which you have chosen to collect information.

²Identifying information may consist of your name, social security number (where applicable) or other general personal identification information, as well as certain technical information, such as what kind of device and operating system you use when using the Service.