Legal and Privacy Informations

Last Updated: 30 May 2024

These Terms and each of the documents we refer to in them are our standard customer agreement for providing the Services. Your use of the Services indicates your acceptance of the Terms. For your own benefit and protection, you should read these Terms and each of the documents we refer to carefully and in particular paragraph 18. If you do not understand any point please ask for further information.

The following additional documents also apply to your use of our Services. By using the Services, you
agree to their terms:

(a) Privacy Policy. This details the terms on which we process any personal data we collect about you, or that you provide to us. 

(b) Cookie Policy. This is information about the “cookies” on our Website.

1. INTERPRETATION
1.1 These Terms are a legal agreement between Globus Payments Ltd (we, us, our, or Globus) and the Customer (you or your) for us to supply you with the Services.

1.2 Globus Payments Ltd is a company incorporated in England and Wales with registered number 13447070 whose registered address is at 5 London Road, Rainham, Kent, England, ME8 7RG. Globus Payments Ltd is seeking to be authorised by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 for the issuing of electronic money and the provision of payment services.

1.3 Documents or information that appear on our Website and that we refer to in these Terms are incorporated into the Terms and form part of your agreement with us. These Terms govern your use of the Globus Account and how we provide you with the Services.

1.4 You can get a current version of these Terms in the legal documents section of our Website or contact us (see paragraph 23) and ask us to send you a paper copy of the current Terms.

1.5 All information and documents we provide or make available to you will be in English. If these Terms are translated into another language, it is for reference purposes only. Any reference to an English legal term for any action, remedy, method of judicial proceeding, legal document, legal status, court, official or any legal concept or thing shall, in respect of any jurisdiction other than England, be deemed to include a reference to that which most nearly approximates to the English legal term in that jurisdiction.

1.6 In these Terms the following words have the meaning set out below:

Account Access Details means all your log-in details, passwords, personal identification number or any other identification or security features relating to your use of the Globus Account that are provided to you or that you may be asked to set up by us from time to time;

API means the application programme interface which we can make available to you and through which you can access your Globus Account and use the Services;

Application Form means the form you complete in order to apply for receipt of the Services;

Approved Currency means any currency approved by us from time to time for holding funds in the Globus Account;

Authorised User means, in relation to a Corporate Customer any natural person that you have authorised to access your Globus Account and/or provide us with instructions on your behalf;

Business Day means any day on which we are open for business and carrying out Transactions. For another party such as the recipient when you make a payment, it will mean a day on which that other party’s PSP is open for business, and carrying out Transactions;

Circumstances Beyond Our Control means abnormal and unforeseen circumstances beyond our control and include but are not limited to: strikes, lock-outs or other industrial action; civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; fire, explosion, storm, flood, earthquake, subsidence, epidemic, pandemic or other natural disaster; impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport; impossibility of the use of public or private telecommunications networks; and/or the acts, decrees, legislation, regulations or restrictions of any government;

Connected means the following scenarios:

A Corporate Customer is connected with another Corporate Customer where (i) one Corporate Customer has Control of the other; (ii) both Corporate Customers are under the Control of the same person or group of persons; or (iii) both Corporate Customers have one or more of the same employees, directors and/or shareholders;

A Corporate Customer is connected with an Individual if (i) the Individual has Control of the Corporate Customer; (ii) the Individual together with persons connected with the Individual has Control of the Corporate Customer; or (iii) the Individual is an employee, director, member and/or shareholder of the Corporate Customer; and/or

An Individual (A) is connected with another Individual (B) if (i) A is B’s spouse or civil partner; (ii) A is a relative of B; (iii) A is the spouse or civil partner of a relative of B; (iv) A is a relative of B’s spouse or civil partner; or (v) A is the spouse or civil partner of a relative of B’s spouse or civil partner;

Control means direct or indirect ownership or control of more than 50% of the voting interests of the Corporate Customer;

Corporate Customer means any customer of ours that is not a natural person;

Customer means a Corporate Customer;

EEA means the European Economic Area, comprising the member states of the European Union plus Norway, Iceland and Liechtenstein;

Electronic Money Regulations mean the United Kingdom’s Electronic Money Regulations 2011 (S.I. 2011/99);

e-Money Services means the issue by us of electronic money to our Customer’s Globus Account and the redemption of such electronic money at the request of the Customer;

Globus Account means the electronic money account you open and maintain with us and which is available to access and view either through our Website or the API;

Fees List means the list of fees charged by us from time to time;

Intellectual Property Rights means copyright, trademarks, domain names, patents, database rights, design rights, rights in computer software and all other intellectual property rights of any kind whether or not they are registered or unregistered in any country in the world;

Identifier means a sequence of letters, numbers and/or symbols used to identify the other party to a Transaction or their account;

Large Enterprise means a business which is not a Micro Enterprise;

Micro Enterprise means a business (which includes sole traders) which:

• employs fewer than 10 persons; and

• has a turnover or annual balance sheet that does not exceed €2 million;

Payment Services means:

• the transfer of electronic money from your Globus Account to third parties or to other accounts of yours;

• the receipt into your Globus Account of electronic money from other accounts of yours or from those of third parties.

Payment Services Provider or PSP, means a provider of payment services, including without limitation credit institutions, electronic money institutions and payment institutions, as defined in the relevant laws and regulations;

Payment Services Regulations mean the United Kingdom’s Payment Services Regulations 2017 (S.I. 2017/752);

Services means the e-Money Services and/or the Payment Services as applicable;

Terms means the terms and conditions set out in this document;

Transaction means an act, initiated by a payer or recipient, of placing, transferring, or withdrawing funds, including transfers between your Globus Account to another account you hold and operate;

Unique Identifier means a combination of letters, numbers or symbols used to identify the bank account of the payee when processing a payment. The unique identifier is the key information that will be used to route the payment to the correct destination and payee. For UK payments in sterling, this is likely to be the sort code number and account number of the payee’s account. For SEPA payments it will be the IBAN of the payee;

Website means www.globus-payments.com, through which, among other things, you can access your Globus Account.

1.7 A reference to any statute, statutory provision or regulation will be construed as a reference to the same as it may be amended, modified or re-enacted from time to time.

1.8 Headings are included for convenience only and do not affect the interpretation of these Terms.

1.9 The singular includes the plural and vice versa.

2. OPENING A GLOBUS ACCOUNT
2.1 You can apply to open a Globus Account provided that:
a) If you are applying on behalf of a Corporate Customer, you confirm that you have authority to bind any legal entity on whose behalf you use and/or access our Services and that legal entity
accepts these Terms.
b) You represent and warrant that your opening of a Globus Account does not violate any laws or regulations applicable to you.

You cannot open or hold a Globus Account if it is not legal to do so in your country of residence.

2.2 By completing an Application Form, you warrant and represent on an ongoing basis that all the information in the Application Form is complete, accurate and correct. You must notify us immediately of any changes to this information.

2.3 You may only hold one Globus Account at any time. If we detect that you have opened more than one Globus Account, we may close all your Globus Accounts immediately.

2.4 Your Globus Account will hold funds in one or more Approved Currencies designated by you when you set up your Globus Account with us.

2.5 Once we have credited funds to your Globus Account, they can be redeemed by you only as set out in these Terms. 

2.6 If you have not used your Globus Account for 12 months or more, we will consider it dormant. Accordingly, you will not be able to use the Globus Account and we will ask you to re-submit information in order for us to carry out our “Know Your Customer” or other similar checks. You will not be able to use the Globus Account until we have completed such checks to our satisfaction. A monthly fee as set out in our Fees List will be charged even if your account is inactive. 

3. OUR SERVICES
3.1 You may use your Globus Account:
a) to hold funds in an Approved Currency; and
b) to receive and make payments;

provided that you do not use the Globus Account in connection with any of the prohibited activities that are listed in Annex 1 to these Terms. We reserve the right to make changes to the prohibited activities list at any time and without notice.

3.2 We will keep reasonable records of the funds you hold in your Globus Account and of your Transactions using your Globus Account. A transaction history showing details of the payments you make and receive from your Globus Account, including a payment reference for each Transaction, the exchange rate applied when carrying out currency conversions and the fees chargeable is available for you to view and download once you have logged into your Globus Account through our Website or the API using your Account Access Details. That information may be viewed by Transaction or on consolidated statements of account for different monthly periods. You should check the Transaction history regularly and let us know if you have any concerns regarding its accuracy or if you do not recognise any of the Transactions listed.

3.3 You may only tell us to transfer electronic money from the balance available in your Globus Account. There is no overdraft facility available on the Globus Account. Accordingly, you must check the Globus Account balance to make sure you have enough funds in your Globus Account to make any payment and to pay the fee we charge you for doing so before you tell us to make a payment. Funds in your Globus Account do not constitute a deposit and will not earn interest. 

3.4 If for any reason your Globus Account goes into a negative balance, you are required to immediately repay such a negative balance by crediting sufficient funds into your Globus Account to bring it back to at least a zero balance. We reserve the right to automatically offset a negative balance on your Globus Account against any fund transfers which you subsequently make to your Globus Account. We shall be entitled to charge you for any reasonable expenses we incur as a result of any negative balance on your Globus Account.

3.5 We may limit the value and/or the number of transfers of funds you can instruct us to make into or out of your Globus Account depending on your country of residence or country of incorporation, verification status, and other factors we might consider reasonable. Your current limits are shown in your Globus Account. We may change such limits from time to time, on written notice posted on our Website.

4. RECEIVING PAYMENTS
4.1 You can receive money into your Globus Account using the methods we support from time to time, as set out on our Website.

4.2 Payments into your Globus Account will be available for you to use on the same Business Day as we receive it.

4.3 As soon as reasonably practicable after we receive a payment into your Globus Account, we will supply you with:
a) a reference so you can identify the payment and payer and any information that was transferred with the payment;
b) the amount of the payment in the currency in which your Globus account is credited;
c) the fees you pay to receive the payment with a breakdown of the amount charged, if applicable;
d) where applicable, the exchange rate used and the amount of the Transaction before that currency conversion; and
e) the credit value date.

4.4 You acknowledge that funds received into your Globus Account may be reversed. You agree that we may reverse a Transaction if the payer or the payer’s bank or Payment Service Provider has reversed or is reasonably likely to reverse a payment which was used to fund the payment to you. We may also reverse a payment made into your Globus Account if it was erroneously made due to an error.

4.5 In some cases, we will credit your Globus Account before we have received the funds from the relevant Payment Service Provider or bank. If either we do not receive the funds from the bank or Payment Service Provider or we subsequently reverse the payment in accordance with these Terms, we will deduct that amount from your Globus Account. Before reversing the payment, we may restrict your access to your Globus Account whilst the reverse is effected.

4.6 You may be required to provide supporting documentation in relation to any payment into your Globus Account. 

5. MAKING PAYMENTS
5.1 We will make payments from your Globus Account in accordance with the payment instructions you give us unless we cannot do so for the reasons described in these Terms. You must give us instructions in accordance with these Terms.

5.2 You must provide us with the following information for us to make payment from your Globus Account:
a) account number or IBAN of the recipient;
b) amount and currency;
c) name and address of the recipient;
d) the Bank Identification Code of the credit institution (BIC) or name and address of the Payment Service Provider of the recipient;
e) any other information you wish to transmit to the recipient together with the Remittance, or any other mandatory field and/or supporting documents requested based on the payment instruction details.

5.3 When you make a payment from your Globus Account, if you ask us, we will provide you with the following information:
a) how long it will take us to execute the payment (we will tell you the longest time we expect it to take us to do this);
b) any fees you must pay to make the payment; and
c) where applicable, a breakdown of the amounts that make up this fee.

5.4 As soon as reasonably practicable after we have made a payment from your Globus Account, we will supply you with:
a) a reference to identify the payment and recipient;
b) the amount in the currency in which we made the payment from your Globus Account;
c) the fees you pay to make the payment with a breakdown of the amounts we charged, if applicable;
d) where applicable, the exchange rate used and the amount of the Transaction after the relevant currency conversion; and
e) the debit value date or the date of receipt of the payment.

5.5 Once we have received confirmation of your payment instruction ordinarily you cannot revoke it unless we agree. For payments, where we agree to reverse the payment instruction, we will use reasonable endeavours to reverse the payment instruction, but we provide no guarantee that the reversal will be affected. Our charges for revocation of a payment instruction are set out in the Fees List. You shall also be responsible for any charges of third-party PSPs (that we or the recipient’s PSP used to perform the payment instruction) for any payment instruction that you wish to revoke. If you initiate a Transaction through a payment initiation service provider, you may not revoke the payment instruction after giving consent to the payment initiative service provider to initiate the payment.

5.6 In line with regulation 81 of the PSRs 2017, payment orders are received after a minimum of four working hours during the firm’s opening time.

5.7 Depending on the nature of the Transaction, not all Approved Currencies will be available to execute a relevant Transaction. 

6. WHEN DO WE RECEIVE AND EXECUTE YOUR INSTRUCTIONS TO MAKE PAYMENTS?
6.1 We will consider any instruction for a Transaction to be authorised by you once you have given us consent to carry it out. You consent to making a payment by following the onscreen prompts when accessing your Globus Account and using one of the tools we make available for you to confirm instructions. The on-screen prompts will require you to provide the type of unique Identifier relevant in each circumstance. This will depend on whether the payment is to an account held with us, or to a payment account with another PSP.

6.2 We will ordinarily receive your payment instruction at the time you confirm it. 

6.3 If the payment instruction is to pay another Globus account, we will execute it at the time we receive your instruction. If it is an instruction for a Transaction to an account operated by another PSP, a payment in euro or in sterling (provided a sterling payment is executed wholly within the UK), will reach its destination, at the latest, on the Business Day after the Business Day on which we receive your instruction. Other payments wholly executed within the EEA may take up to 4 Business Days following the Business Day on which we receive your instruction. The time at which we will make other international payments depends on the timeframe for doing so and the business hours of the other PSP.

7. EXCHANGE RATES
7.1 If you receive a payment, including a refund, in a currency that is not one of the Approved Currencies for your Globus Account, we will convert it into GBP or such other currency as specified on our Website. The conversion rate will be indicated by us following receipt of the payment and you agree that we will apply that rate (which you are responsible for checking).

7.2 To make a Transaction in a currency that is different to the Approved Currency you hold in your Globus Account you must agree to convert the amount into that other currency before you make the Transaction. We will show you the live conversion rate for the currency you have chosen, and we will ask you to consent to this before the conversion is carried out. The conversion rate is based on the rate used by our reference rate provider.

7.3 We do not control the conversion rates, so we apply those indicated by us at the time of the conversion. We cannot display a list of any of the conversion rates as they are live market based rates. The conversion rate that we use will be indicated in your Globus Account after we have made the conversion. We also deduct and keep any fees you have agreed to pay for currency conversions. Changes to exchange rates may be made from time to time without notice to you.

8. FEES AND CHARGES
8.1 The Fees List sets out the fees you must pay to us to credit your Globus Account, to convert currency and to make Transactions.

8.2 We deduct any conversion charges and fees for crediting funds into your Globus Account from the amount you want to credit. This means the amount we credit may be less than the amount you transfer to us. 

8.3 Once you have credit funds into your Globus Account, when you instruct us to make a Transaction, we will transfer the full amount you instruct us to transfer and deduct any fees from the balance in the Globus Account. If there are insufficient funds in the Globus Account to make the payment and pay any fees related to it, we will not make the payment and will not deduct the fee. We will tell you that we have not made the payment and why.

8.4 We may change the fees we charge from time to time in accordance with paragraph 28. We will inform you at the email address you have registered with about any new fees that will be applicable
to your account, along with the date they will come into effect. However, we strongly recommend that you check the Fees List each time you use the Service to stay up-to-date with the latest information.

8.5 We do not have to provide any Services at the wrong (lower) price shown in error on the Fees List, if the pricing error is obvious and clear and could have reasonably been recognised as an error.

8.6 Notwithstanding any other provision of these Terms, we may deduct from your Globus Account all fees charged by us, any reversal amounts and any other amounts owed by you to us.

8.7 If a payment you make or receive into your Globus Account takes place entirely in the EEA because the PSP of your recipient or payer is in the EEA, we will only accept SHA (or, shared costs) instructions, so that you will pay our charges (if any) and the recipient or payer of the Transaction (where relevant) will pay the charges of its PSP. Where the PSP of your recipient or payer is outside the EEA, we may require that the charges for the Transaction are to be shared (SHA instruction) or to be fully allocated to either you (OUR instruction) or the recipient (BEN instruction). An OUR instruction means that you pay all the charges involved in a transaction where you are the payer, including the charges of the recipient’s PSP. We will provide you with information on the costs of an OUR instruction before you decide to carry out the relevant Transaction.

8.8 Globus Payments Ltd, at the customer’s request, will inform the customer of: the maximum execution time for the transaction concerned and any charges payable (including a breakdown of those charges where applicable).

8.9 Regardless of the type of instruction, you acknowledge that if we or the PSP of your recipient or payer have to use third party PSPs, those PSPs may also deduct their own charges from the amount of the Transaction.

9. YOUR OBLIGATIONS
9.1 When using the Services, you must:
a) comply with the instructions for use of the Services, including any instructions in your Globus Account, or any operational or user documentation that we may make available to you, including all such information relating to the use of our Services available on our Website;
b) regularly check the transactions history of your Globus Account and contact us immediately in case you have any questions or concerns regarding its accuracy or if you do not recognise any of the Transactions listed;
c) only use the Services for the purposes listed in the Application Form;
d) only use the Services for your own purposes, and not for the purposes of any third party;
e) check that the instructions you give us to make a Transaction are accurate and correct;
f) not use your Globus Account in connection with any illegal industry or activity;
g) not use your Globus Account and/or the Services in any unlawful way including money laundering or tax evasion;
h) answer any question we reasonably ask in connection with your use of the Services, including without limitation any question we may ask in order to validate a Transaction, the identity of the payer or recipient or the reason for the Transaction;
i) not attempt to gain unauthorised access to our Website, API, our servers, computers or databases; and
j) not introduce any viruses or harmful code to our Website, API, servers, computers or databases.

9.2 You agree to indemnify, defend, reimburse or compensate us and hold us, our third party providers, our employees or agents harmless against any loss, cost or liability which the we may sustain or incur, and from any claim or demand (including legal fees) made or incurred by any third party, due to or arising out of:
a) any failure by you to comply with paragraph 9.1 above;
b) your use of the Globus Account and/or the Services;
c) any inaccuracy in:
(i) any information you give us (including “Know Your Customer” information);
(ii) any instruction you give in connection with the Services; and/or
d) your breach of these Terms or any applicable law or regulation.

10. KNOW YOUR CUSTOMER CHECKS
10.1 Within the timeframe set out in any request, you will give us all documents and other evidence that we reasonably request at any stage of your use of the Services, or during your application to use the Services. You will give us this information so that we have up to date information and can carry out and be satisfied that we have complied with all “Know Your Customer” or other similar checks required under all applicable laws and regulations. The documents and information we may ask you for shall include, without limitation, any documents or other evidence concerning your identity or that of third parties or documentation evidencing the validity of a Transaction.

10.2 If there is:
a) (in the case of an Individual, who is an Account Signatory, Director, Ultimate Beneficial Owner, Shareholder, Representative, etc.) any change to their full name, citizenship or residential/postal
address;
b) any change in your Company status, place of incorporation, registered address, or, where applicable, in the composition of your shareholders; or
c) any change in the information provided in the Application Form;
you must notify us and send us the documents evidencing such changes as soon as possible so our records are up to date. If we discover that any of your information is incorrect, we will update it.

10.3 If there is:
a) any change to the type of industry that your business operates in; or
b) the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made after we have granted you a Globus Account, which obliges us to comply with “Know Your Customer” or similar identification procedures, in circumstances where the necessary information is not already available to us, you will promptly give us all documents and other evidence that we reasonably ask for. You will give us this information so we can carry out and be satisfied we have complied with all “Know Your Customer” or other similar checks required under all applicable laws and regulations.

10.4 You acknowledge that, in compliance with relevant laws and regulations, we are obliged to store all the information about you and your Transactions for at least 5 years after your Globus Account is terminated.

11. OUR RIGHT TO REVERSE, SUSPEND AND TERMINATE
11.1 If we:
a) have not been provided with any information that we have requested under paragraph 10 or the information or documentation provided is not satisfactory in our reasonable opinion;
b) reasonably believe that you are in breach of these Terms or any other conditions applicable to our Services;
c) reasonably believe that your activities can cause damage to our goodwill or reputation;
d) have reasonable suspicion of unlawful, fraudulent or criminal activity concerning the use of the Services;
e) have reasonable grounds relating to security or credit risk in relation to your use of the Services;
f) have a reasonable belief that we are required to do so by law or regulation;
g) are no longer able to provide the Services due to a change in or termination of a service from our third-party suppliers, or due to a change in the policies of those suppliers;
h) have a reasonable belief that any of the information you provided to us in your Application Form is incorrect;
i) have a reasonable belief that you are using the Services for a different purpose than that notified to us by you;
j) are given a direction to do so by any court, regulator or other competent regulatory, tax or other authority; and/or
k) terminate a third-party Customer’s Services in accordance with our rights set out under paragraphs 11.1 (a) to (j) and that third-party Customer is Connected to you we may immediately:
(i) decline your application for any or all of the Services;
(ii) terminate any or all of the Services;
(iii) reverse any relevant Transaction;
(iv) withhold funds from you or restrict your access to funds or your Globus Account;
(v) stop or block any payment instrument;
(vi) refuse to make payments from or to your Globus Account; and/or
(vii) do anything else we reasonably consider necessary.

We shall inform you of any such actions we take, unless we have a reasonable belief that we are prevented from doing so by law or regulation or we believe that doing so would compromise our anti-fraud or security measures.

11.2 When we withhold funds from you or restrict your access to funds in accordance with these Terms, the subsequent release of or access to those funds is at our sole discretion. Any termination by you of your Globus Account will not be valid as a cause of action for the release of the funds and you waive any rights to terminate in the event of your own breach of these Terms.

11.3 We may terminate the provision of any or all of the Services at any time and close your Globus Account, for any reason, by giving you at least 2 months prior written notice. We will give you written notice of such action to the last postal address or email address, as the case may be, that you have given to us, which shall be deemed sufficient notice.

11.4 If we terminate the provision of the Services and close your Globus Account, we will ask you to provide us details of where you would like us to transfer the balance to, provided that your chosen option is available and there is no limit or other restriction for us to do so, after deducting any fees due and payable by you. We will ordinarily transfer such funds to another account in your name only.

11.5 If we terminate the provision of the Services and close your Globus Account any of your or our rights or liabilities which have accrued prior to the closure of the Globus Account shall continue until fully discharged by the relevant party, save for any rights or liabilities which are expressed to continue after the termination of your Globus Account.

12. YOUR RIGHT TO CLOSE YOUR GLOBUS ACCOUNT
12.1 You may close your Globus Account by giving us a written notice as set out in paragraph 23 below.

12.2 You may not instruct us to carry out any Services after you have instructed us to close your Globus Account. However, we will carry out any instructions in accordance with these Terms that you have given us for any Services prior to your instruction to close your Globus Account.

12.3 When you give us notice to close your Globus Account you will not be entitled to a refund of any Transactions you have made or of any fees that you may have incurred on the Globus Account, which are then due and payable by you. We may deduct these fees from the balance on your Globus Account. We will close your Globus Account after all amounts have been paid by you or deducted by us from your Globus Account. We will ask you to provide us details of where you would like us to transfer the balance to, provided that your chosen option is available and there is no limit or other restriction for us to do so, after deducting any fees due and payable by you. We will ordinarily transfer such funds to another account in your name only.

13. REFUSING A PAYMENT
13.1 We may refuse to carry out any instruction from you or refuse to accept funds into your Globus Account if:
a) you are in breach of these Terms;
b) the relevant Transaction is contrary to our policies and/or procedures;
c) it is unlawful to carry out your instructions or to accept the funds; or
d) our third party payment providers have refused the relevant Transaction for whatever reason. If a third party payment provider refuses to execute the relevant Transaction, they may return the relevant funds less an amount equal to their charges for processing the Transaction, even if they reject the Transaction.

13.2 If we refuse to carry out an instruction, we will tell you at the time we refuse to make the payment and the reasons why, unless it is unlawful for us to do so. Where it is possible to rectify the
reason for our refusal, we will tell you how to remedy the issue.

13.3 We will treat a payment instruction which we refuse as not having been received by us, and these Terms will therefore not apply to such payment instructions. We shall not be liable for any losses you suffer as a result of us refusing a payment instruction.

14. NON-EXECUTION OR DEFECTIVE OR LATE EXECUTION OF PAYMENT TRANSACTIONS INITIATED BY THE PAYER
14.1 In circumstances and situations where the payer has instructed Globus Payments Ltd to make a payment and the instruction has either not been carried out, or has been carried out incorrectly by Globus Payments Ltd, Globus Payments Ltd will be liable to its customer unless it can prove to the payer (and, where relevant, to the payee’s PSP), that the correct amount, and the beneficiary’s
details as specified by the payer, were received by the payee’s PSP on time.

14.2  If Globus Payments Ltd is liable we will refund the amount of the defective or non-executed transaction (if such amount has been debited from the customer’s account) to the customer without
undue delay, and, where applicable, restore the debited payment account to the state it would have been in had the transaction not occurred at all. This may, for example, involve the refunding of
charges and adjustment of interest. Globus Payments Ltd will ensure that the credit value date is no later than the date on which the payment transaction was debited.

14.3 Where an overpayment has been made and the excess cannot be recovered from the payee’s PSP, it would be appropriate to refund the excess incorrectly deducted from the customer’s account
where this is sufficient to avoid the customer suffering a loss.

14.4 Globus Payments Ltd will not be liable if the failure giving rise to it was due to abnormal and unforeseeable circumstances beyond the control of Globus Payments Ltd, the consequences of
which would have been unavoidable despite all efforts to the contrary, or if it arose because of Globus Payments Ltd having to comply with other UK law.

15. KEEPING YOUR SECURITY DETAILS SAFE
15.1 You, through your Authorised Users must:
a) treat the funds held in your Globus Account as carefully as you would treat cash in your wallet; and
b) from the time you receive them, keep all your Account Access Details safe and secure. To avoid your Account Access Details being used by someone else you must treat them as confidential, so you must not disclose them to anyone else and you must not keep a written record of them which identifies them and how to use them. You must keep and use your Account Access Details in accordance with our instructions available here.

15.2 Use of the Globus Account by someone other than an Authorised User of yours may mean you lose some or all of the electronic money credited to your Globus Account

15.3 If you suspect any Account Access Details have been lost, stolen, misappropriated, used without authorisation or otherwise compromised, you must contact us immediately by email to
enquiries@globus-payments.com.

15.4 to change your Account Access Details. If you allow another person (other than an Authorised User) to have access to your Globus Account we will treat this as if you have authorised such use and you will be liable for all Transactions and fees incurred by such use.

15.5 We may stop any Authorised User using any Account Access Details if we have reasonable grounds to believe they are no longer confidential to you or have been used fraudulently or without
your authorisation. If possible, we will notify you by email, telephone or SMS using the latest contact details you have supplied to us before we stop you using such identification or security feature, to
tell you that we intend to do so and why.

15.6 If we cannot contact you before we stop the use of the Account Access Details, we will do so immediately afterwards. We will not contact you to tell you we intend or have stopped the use of
the Account Access Details, if we are prevented from doing so by law or if it would adversely affect our reasonable security measures. We will either reinstate the Account Access Details as soon as
practicable after the reasons for stopping its use have ceased or, at that time, issue you with replacement Account Access Details to use. When the reasons for us stopping your use of the Account Access Details cease, unless we have already issued you with replacement Account Access Details, you can contact us at any time using the internal ticket system on our Website or by email to
enquiries@globus-payments.com to request that we allow you to use the Account Access Details again. We, our agents and/or the police may ask you to assist us as part of our or their inquiries
where your Globus Account has been used by someone other than you without your consent

16. CORPORATE CUSTOMERS AND AUTHORISED USERS
16.1 When you appoint an Authorised User, we will treat the Authorised User as having authority from you and all instructions from the Authorised User shall be regarded as if they came from you.
All Authorised Users must be 18 years old or over.

16.2 You must notify us in writing immediately upon any change in the information provided regarding the Authorised User and its scope of authority to give instructions on your behalf.

16.3 You are responsible for the integrity of and all acts and omissions of all Authorised Users and we shall not be responsible for any loss or harm which you or any other person may suffer or incur as a result of any act or omission of any Authorised User.

16.4 We are not responsible to you or anyone else if any Authorised User provides us with instructions which are against your interests or outside of the scope of the Authorised User’s actual authority.

16.5 You are responsible for ensuring that only Authorised Users access your Globus Account and/or instruct us to carry out Transactions on your behalf. If we receive instructions or a request using your or an Authorised User’s Account Access Details, we will treat the instructions as having been authorised by you and we are under no obligation to verify the authenticity of an instruction if it comes from an Authorised User.

16.6 You shall ensure that any and all Authorised Users are aware of these Terms and will procure that such Authorised Users comply with these Terms.

17. TRANSACTION DISPUTES
17.1 If you believe that:
a) any Transaction was:
(i) not authorised by you; or
(ii) incorrectly executed by us;

then you must notify us without delay as soon as you become aware of it, but not later than
(aa) 1 month (if you are a Large Enterprise); or
(bb) 13 months (if you are a Consumer or Micro-Enterprise) after the date of the unauthorised or incorrectly executed Transaction or when you became aware of such unauthorised or incorrectly executed Transaction. For a period of 18 months following your notification, you have the right to request that we provide you with the means to confirm your notification.

17.2 You must pay for all losses resulting from an unauthorised Transaction where you have (a) acted fraudulently; or (b) with intent or gross negligence (i) failed to safeguard the Account Access Details; (ii) failed to comply with these Terms regarding the use of the Services; and/or (iii) did not notify us without delay in the way required in paragraphs 15.3 and 17.1, when you became aware the Account Access Details were lost, stolen or used without your authorisation.

17.3 If you are a Micro-Enterprise, provided that (a) you have notified us as required by paragraphs 15.3 and 17.1; (b) we cannot show that the Transaction was authorised by you, and (c) paragraph
17.2 does not apply then we will refund the amount of the unauthorised Transaction to your Globus Account. Unless we have reasonable grounds to suspect fraudulent behaviour, we will make the
refund as soon as practicable, and in any event no later than the end of the Business Day following the day on which we became aware of the unauthorised Transaction.

17.4 If you are a Micro-Enterprise, you must pay up to a maximum amount of £35 for any losses we suffer from an unauthorised Transaction due to the use of lost or stolen Account Access Details,
unless (i) it was not possible for you to detect the use of the lost or stolen Account Access Details before the Transaction; or (ii) the losses we suffer were caused by us or our agents.

17.5 If you are a Micro-Enterprise, unless you acted fraudulently, you are not liable for any losses resulting from an unauthorised Transaction:
a) after you notify us as required in paragraphs (a) 15.3 and 17.1;
b) if you could not notify us as we failed to provide you with the means at all times to tell us about Account Access Details that have been lost, stolen, misappropriated, used without authorisation, or otherwise compromised;
c) if we fail to apply strong customer authentication, where this is required by law or regulation; or
d) where you used the Globus Account to buy goods or services at a distance, unless the law says you are liable for the loss.

17.6 If you are a Large Enterprise, you will have to prove to us that a Transaction was not authorised by you. If you do so and you have notified us in accordance with paragraphs 15.3 and 17.1 and paragraph 17.2 does not apply, we will be liable to refund the amount of the unauthorised Transaction to your Globus Account, but subject to our limit of liability set out in paragraph 18.2. We shall make the refund as soon as practicable and, in any event no later than the end of the Business Day following the day on which we became aware of the unauthorised Transaction. You shall, on request, provide such independently verified or verifiable information as we may reasonably ask in order to determine whether you are a Large Enterprise.

17.7 Save as set out in these Terms, Transactions are non-refundable and are non-reversible. You may not charge back any Transaction for reasons for which we are not responsible including, without limitation, disputes with third parties for non-delivery of goods and/or services. We are not liable for any claims resulting from a commercial transaction between you and a third party.

17.8 If we provide you with an Identifier and we and all the other service providers involved in making the Transaction carry out your instructions in accordance with the Identifier, then we are entitled to consider it was carried out correctly.

17.9 If you give us an incorrect Identifier or other incorrect details, then we are not responsible for failing to carry the Transaction out or for carrying it out in accordance with your instructions. If the Transaction has been misdirected because you gave us an incorrect Identifier, we will make reasonable efforts to recover the funds in the Transaction, but we provide no guarantee that the funds will be recovered. We may charge you a fee as set out in the Fees List for doing this. If we are unable to recover the funds, we will, upon your written request, provide you all available relevant information in order for you to claim repayment of the funds. If you are the recipient of a Transaction made with an incorrect Identifier, you will cooperate with us in order to return the funds where appropriate and we will cooperate with the payer’s PSP in its efforts to recover the funds, in particular by providing it with all relevant information for the collection of the funds.

17.10 Please note that even if you give us information additional to the Identifier or to the information we asked for to make the Transaction, we are only responsible for carrying out the Transaction in accordance with the Identifier.

17.11 Where you are the payer of a Transaction which has not been correctly executed by us, we shall, without undue delay, refund to you the amount of the non-executed or defective Transaction and, where applicable, restore your account to the state in which it would have been if the Transaction had been executed correctly. Where the Transaction has been executed late you may ask us to
request the recipient’s PSP to credit value date the recipient’s account as if the Transaction had been executed correctly.

17.12 If you are the recipient of a Transaction that has been executed late, and we receive a request from your payer’s PSP, we will ensure that the credit value date used in your Globus Account is no later than the date the amount of the Transaction would have been value dated if the Transaction had been executed on time.

17.13 You have the right to request that we make efforts to trace any non-executed or effectively executed Transaction and notify you of the outcome.

18. OUR RESPONSIBILITIES
18.1 We shall at all times perform our obligations under the Terms and carry out the Services with reasonable care and skill.

18.2 Subject to paragraph 18.4 if, in providing the Services, we fail to comply with these Terms, our aggregate liability to you (whether in contract, tort, negligence, breach of statutory duty or
otherwise) in any calendar year shall not exceed:
a) the total amount of fees you paid us during that year for your Services;

18.3 Subject to paragraph 18.4 we will not pay for losses that fall into the following categories, even if those losses result from our deliberate failure to comply with our obligations under these Terms
a) indirect or consequential loss;
b) loss of income or revenue;
c) loss of business;
d) loss of profits;
e) pure economic loss;
f) loss of anticipated savings; or
g) waste of management or office time.

18.4 We do not exclude or limit our liability for:
a) death or personal injury caused by our negligence;
b) fraud or fraudulent misrepresentation by us; or
c) any other matter for which it would be illegal for us to exclude or limit our liability.

18.5 We are not liable for any loss or damage caused by a virus, other technological attacks or harmful material that may infect your computer equipment, computer programmes, data or other proprietary material related to your use of our Services.

19. SAFEGUARDING YOUR FUNDS
19.1 When you transfer funds into your Globus Account and/or you receive a payment into your Globus Account, we shall:
a) place the funds into segregated accounts held with authorised credit institutions; and/or
b) invest the funds into low risk assets held in a segregated account with financial institutions.
These actions are taken to safeguard and protect your funds in accordance with applicable laws and regulations.

19.1.1 As your Globus Account is an electronic money account and not a bank account, you acknowledge that the Financial Services Compensation Scheme in the UK does not apply to your Globus
Account. When we hold your funds in a credit institution, like a bank, we do so in a specially designated safeguarding account. This means that the funds are held ring-fenced and protected for your benefit and are not accessible to Globus Payments Ltd for our own operational use. The credit institution is also subject to strict regulations, which further protects your funds. Safeguarding helps protect you if we were to become insolvent. Safeguarding regulations make sure that once we have paid any costs related to an administrator or liquidator, we must repay our customers from our safeguarding accounts before we repay any others we owe money to. In addition to holding funds in a credit institution, we may also invest your funds in investment assets. These assets are carefully selected to ensure that they meet legal requirements, and that they are low risk and liquid. The investment assets are held in special accounts with an FCA authorised custodian, which means that they are not accessible to us, or any investment advisor we may appoint, for our own operational funds. We are not a credit institution, and we are not subject to protection granted under the Financial Services Compensation Scheme (FSCS) in the UK. However, all your funds are held in specially designated safeguarding accounts, so at all times those funds remain protected.

20. SET-OFF
If any circumstances arise which, in accordance with these Terms, entitles us to be compensated by you, we shall be entitled to recover any sum due to us by setting-off part or all of any sum that you have lodged with us, either in your Globus Account or otherwise against the sums you owe us. We shall accordingly deduct such sums from your Globus Account. You shall have no similar right of set-off.

21. CIRCUMSTANCES BEYOND OUR CONTROL
21.1 We are not responsible for any breach of these Terms by us, or for any loss you incur in connection with such breach, due to any Circumstances Beyond Our Control.

21.2 Our performance of the Services is deemed to be suspended for the period that the Circumstances Beyond Our Control continue and we will have an extension of time for performance for the duration of that period.

21.3 If any Circumstances Beyond Our Control occur, we may take any action we consider appropriate in connection with the Services and use reasonable endeavours to end the Circumstances Beyond Our Control.

22. ACCESSING OUR SERVICES
22.1 We shall use reasonable endeavours to make sure our Services are available to you when you need them. However, we do not warrant or guarantee that the Services will be uninterrupted or error free. Except as required under law, we shall not be liable for any (a) service interruptions, including but not limited to, system failures, delays, disruptions or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of Transactions or the Services; and/or (b) any faults, mistakes or inaccuracies of any kind in our Services. This paragraph does not apply to our responsibility to refund any funds under paragraph 18 in respect of Transaction disputes.

22.2 The Services are provided on an “as is” basis and without any representation or warranty, whether express, implied or statutory. We make no representation of any kind whatsoever for the Services or the content, materials, information and functions made accessible by the Services or used on or accessed through the Services.

23. CONTACT METHODS
23.1 You must tell us by email or our ticket system available on our Website as soon as possible of any changes to your name, postal address, telephone and email address so that our records are accurate, complete and up to date. You should check for incoming messages regularly and frequently. If you do not maintain or check your email you will miss emails about your Transactions and/or our Services. We cannot be liable for any consequence or loss if you do not comply with this instruction.

23.2 We will communicate with you primarily by email or by posting information on our Website. It is your responsibility to ensure that you are able to receive and send emails and access our Website. We may also communicate with you by post, telephone or SMS if you use any mobile services. Any communications or notices sent by:
a) email will be deemed received by you on the same day if it is received in your email inbox before 5pm GMT. If it is received in your email inbox after 5pm GMT or at any other time, it will be deemed received on the next day;
b) post will be deemed received three days from the date of posting for UK post or within five days of posting for international post; and
c) SMS will be deemed received the same day.

23.3 In order to view emails you need a computer with email software that can display emails in HTML format. We may also send you attachments in Portable Document Format (PDF) which may require you to have the appropriate software in order to open and read these attachments.

23.4 You can communicate with us using any of the ways for contacting us as set out on our Website.

23.5 Where legislation requires us to provide information to you on a durable medium, we will either send you an email (with or without attachment) or send you a notification pointing you to information on our Website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference.

23.6 We will communicate to you in English and will always accept communications made to us in English. Documents or communications in any other languages are for convenience only and shall not constitute an obligation on us to conduct any further communication in that language.

24. YOUR PERSONAL DATA
24.1 To provide our Services we need to collect and retain personal data about you, any Authorised Users and certain individuals (ex. Directors, UBOs) connected to your Company. By accepting these Terms, you are giving us explicit consent to access, process and/or retain any personal data for our provision of the Services. Please note that this “explicit consent” is a statutory requirement affecting Payment Services Providers and does not affect any rights and obligations that you or we have under data protection laws including but not limited to the Data Protection Act 2018 and EU General Data Protection Regulation 2016/679.

24.2 We are committed to maintaining your personal data in accordance with legal requirements relating to the collection, storage and use of personal data. Please review our Privacy Policy in the legal documents section of our Website for more information on how we use and protect your personal data and your privacy rights.

24.3 If we suspect that we have been given false or inaccurate information, we may record and retain such suspicion together with any other relevant information.

24.4 If we receive false or inaccurate information, and we identify or reasonably suspect any fraud or other illegal activities, then we will pass details to fraud prevention agencies and/or other relevant agencies to prevent fraud, money laundering and other illegal activities.

24.5 We may check all personal data you give us with fraud prevention agencies and other organisations, and we may obtain information about you from credit reference agencies to verify your identity. A record of such enquiries may be left on your files with such third party organisations and agencies and also held by us.

24.6 We may monitor and/or record telephone calls we have with you (without notice or warning to you) to help us maintain and improve the quality of service and for fraud prevention and detection purposes.

25. INTELLECTUAL PROPERTY
25.1 The Website, Globus Account and the API and all Intellectual Property Rights contained therein, including but not limited to the content, are owned or licenced by us. Nothing in these Terms grants you or your Authorised Users any rights in our Website, Globus Account and API other than as necessary to use the Globus Account as permitted under these Terms.

25.2 “Globus PaymentsIP” includes any software (including without limitation any current or future app, the API, developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed and provided by us or our affiliates to you, or available for download from our Website. You may not, and may not attempt to, directly or indirectly:
a) transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Service or the Globus PaymentsIP to any person or entity;
b) remove, obscure, or alter any notice of any of our trade marks, or other “intellectual property” appearing on or contained within the Services or on any Globus PaymentsIP;
c) modify, copy, tamper with or otherwise create derivative works of any software included in the Globus PaymentsIP; or
d) reverse engineer, disassemble, or decompile the Globus PaymentsIP or the Services or apply any other process or procedure to derive the source code of any software included in the Globus PaymentsIP or as part of the Services.

26. NO LIABILITY FOR TAX
Save as required by any applicable law or regulation, we have no obligation whatsoever to any taxation or similar authority in respect of any taxation or other similar duty or levy payable by any
Customer. It is your obligation to report and pay all taxation, duties and levies that are payable by you in respect of your Globus Account and the Services.

27. COMPLAINTS
27.1 Any complaints about us or the services we provide should be addressed to us in the first instance by contacting us by email to enquiries@globus-payments.com. You should clearly indicate that you are wishing to make a complaint to us. This helps us to distinguish a complaint from a mere query. We will send you a complaint acknowledgement by post or by e-mail promptly in accordance with our Complaints Procedure, which can be found in the legal documents section of our Website. You may request a paper copy of our Complaints Procedure at any time by contacting us (see paragraph 23).

27.2 We endeavour to provide you with an answer or resolution to your complaint within the timeframes as outlined by the Financial Ombudsman Service. Should this not be possible due to unforeseen circumstances or lack of information, we will contact you.

27.3 If your complaint is not resolved to your satisfaction, you may contact the Financial Ombudsman Service at Exchange Tower, London, E14 9SR. For additional contact details you may visit the website at www.financial-ombudsman.org.uk.

28. CHANGES TO THESE TERMS
28.1 We may change these Terms and the Fees List from time to time in accordance with this paragraph 28. The provision of new Services or changes to existing Services that do not constitute a
change to these Terms shall be made immediately. All changes will be posted on our Website and/or emailed to you at the last email address you provided to us. You should check our Website regularly. If you are not a Large Enterprise, we will provide you with notice of any changes we propose to make to these Terms at least 2 months before the change is due to take effect. If you are a Large Enterprise, we may provide you with less than 2 months’ notice of any changes. In either case, you will be entitled to terminate your Globus Account without charge prior to the changes coming into effect.

28.2 Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.

29. GENERAL
29.1 These Terms are personal to you. You must not grant any legal rights to anyone over any of them and you must not transfer your rights and obligations under these Terms to anyone.

29.2 We may assign or transfer our rights or obligations under these Terms, either in whole or in part, to any third party without your consent.

29.3 Any delay or failure by us to exercise any right or remedy under these Terms is not to be considered a waiver of that right or remedy and it will not stop us from exercising it at any subsequent time.

29.4 No one other than you and we have any right to enforce any of the provisions of these Terms.

29.5 If any provision of these Terms is judged to be invalid, illegal or unenforceable, such provision shall be severed from these Terms and the remainder of the provisions shall so far as possible continue in full force and effect.

30. THIRD PARTY SERVICE PROVIDERS
You may instruct payment initiation service providers to initiate Transactions from your Globus Account. You may also use account information service providers, who aggregate and display in one location the information from your Globus Account and from other online payment accounts you may have with us or other PSPs. We reserve the right to deny third party service providers access to your Globus Account for reasonably justified and duly evidenced reasons relating to fraud or lack of authority, including the unauthorised or fraudulent initiation of a Transaction. If we deny a payment initiation service provider or an account information service provider access to your Globus Account, we will notify you of our decision and of the reasons for our decision, unless that notification is unlawful or could compromise the security of your Globus Account.

31. LARGE ENTERPRISES OPT OUT
If you are a Large Enterprise then you agree that regulations 40 to 62 of Part 6 and regulations 66(1), 67(3) and (4), 75, 77, 79, 80, 83, 91, 92 and 94 of Part 7 of The Payment Services Regulations 2017 do not apply to these Terms.

32. GOVERNING LAW
These Terms are governed by the laws of England and Wales.

33. JURISDICTION
The parties to these Terms submit to the exclusive jurisdiction of the courts of England and Wales.

Annex 1

Prohibited Activities List 

Clients engaged in, or linked in any way to, any of the following activities may not open or have a Globus Account with us: 

• Adult Entertainment
• Casinos/Gambling
• Firearms/Weapons/Armaments
• Adoption Agencies
• Government Owned Entities
• Agriculture, Land-based gaming
• Cartomancer/Divination/Magic
• Nutraceuticals, Dating/Escort Agencies
• Drugs Paraphernalia
• Pyrotechnic Activities
• Radioactive devices or materials 
• Shell Banks or Corporations
• Cryptocurrencies or Crypto Asset Exchange Providers (CEPs)