Terms and Conditions

Terms and conditions – Fiat Accounts

1. Why this information is important

This document sets out the terms and conditions for your BABB Personal Account (your account) and the services associated with it. It also sets out other information that you should be aware of. These terms and conditions, together with the Fees Page, Privacy Policy  and any other terms and conditions applicable to our services, form a legal agreement (the “agreement”, or the “terms”) between:

    • you, the account holder; 

    • and us, BABB Remit Ltd.

We are a UK company which is authorised to issue e-money by the Financial Conduct Authority (the financial regulator in the UK) under the Electronic Money Regulations 2011. Our firm reference number is 932609 and our Company number is 10407809.

The BABB Mobile App is the primary means by which we provide our services.

It’s important that you understand how your account works. You can access a copy of these Terms and Conditions at any time by using the BABB Mobile App.

These terms apply whenever and however you access our services. This means that they apply to all methods of accessing a particular service, even if we refer to the service being accessed through a specific method in these terms. For example, when we talk about BABB Card payments, we mean payments made with a physical card, but also payments made with a virtual card, or a card added to Apple Wallet or Google Wallet.

2. What type of account is my BABB Account?

E-money is an electronic alternative to cash. If you or someone else gives us money in one currency, we will issue an e-money equivalent in that currency. We will keep the e-money in your account, and other people will accept it as payment. In these terms, ‘money’ refers to e-money.

Your account is a ‘virtual’ account in which you keep your money. It can store money in multiple currencies at the same time, when multiple currencies are available.

3. Using money in your account 

You will be able to use our services once you have money in your account. We are constantly adding new features and services. We will notify you about these changes via the BABB Mobile App. Now, for example, you can do the following: 

    • Send and receive funds from other BABB Accounts and non-BABB Accounts; 

    • Exchange one currency to another (we call this a “currency exchange”). The available currencies may change from time to time;

    • Use your BABB Inclusive Debit Card to make payments and withdraw cash;

    • View and manage account information.

4. How can I open a BABB Account?

Normally, you must be 18 or over to open a BABB Account. If you are under the age of 18 and we grant you a BABB Account or any other service, we will notify you of any special terms and conditions that apply. 

When you ask us to open an account, we or someone acting on our behalf will ask you for information about you and the source of the funds you intend to deposit into your account. This is called KYC (Know Your Customer) and AML (Anti-Money Laundering) and we do this for a variety of reasons, including to verify your identity and check your credit score, as well as to meet our legal and regulatory obligations. Our Privacy Policy  explains how we use your information for these and other purposes in greater detail. We will open your account once we have all of the necessary information. 

You are not permitted: 

    • Open more than one BABB personal account; 

    • Use a BABB Personal Account for business purposes; 

    • Open a new BABB Account if we have previously closed a BABB Account for KYC or AML reasons.

Keep us in the loop

Please keep your information up to date and notify us immediately if any of the information you’ve provided us changes. If any of your information is found to be incorrect, we will correct it. 

To meet our legal and regulatory obligations, we may occasionally need to request additional information about you. Please provide this information as soon as possible so that your account and our services are not disrupted.

5. How do I get payments and account information?

You can track all payments into and out of your account using the BABB Mobile App. We will not change any of your account information. While you are a customer, you will have access to it via the BABB Mobile App. If you need to keep a copy of the information after your account has been closed, you must download it while it is still active. This information is available for download from the app at any time.

We will send a notification to your mobile device each time a payment goes into or out of your account. You can disable these notifications, but if you do, you should check your payments on the BABB Mobile App on a regular basis. We recommend that you do not disable notifications because it is critical that you know what payments are coming into and going out of your account. 

Communicating with you

We’ll usually contact you via the BABB Mobile App or the email address you provided. This is how we will provide account information to you and notify you of any fraud or suspected fraud involving your account. It is also how we will notify you if your account is under attack. 

To keep your account secure, download the latest operating system for your mobile device and the latest version of the BABB Mobile App as soon as they are available. 

We will never request your credit card information and will always communicate via email money@getbabb.com outside of BABB Mobile App.

6. How do I close my account?

You may close your account and thus terminate this agreement at any time by notifying us. You can do so by using the BABB app, writing to us at our headquarters, or emailing us at support@getbabb.com. You must still pay any charges that have accrued. 

If you or we close your account, you will have at least 60 days to withdraw the funds we have on deposit for you (unless there are reasons preventing the transfer). This means that any standard payment limits and fees will still apply. For example, any minimum payment limits that apply while your account is open will continue to apply when your account is closed.

After 60 days, you will no longer be eligible for any free payments that your plan provided while your account was active. We charge our standard fee, subject to a minimum of £1, for any transfer you request. For example, if you request an international payment that would have cost £5 while your account was open, you will be charged £5. However, if you request a local payment that would have cost £0 while your account was open, you will be charged £1. If your remaining balance is less than or equal to £1 at the start of the 60-day period, or falls below it at any time during that period, the fee will be charged automatically, and your account will be permanently closed once the period is over.

If your account has been temporarily restricted, we may not be able to close it until our investigations are completed.

7. What happens after my account is closed? 

We’ll keep enough money aside to cover any payments you authorised before your account was closed. You will also continue to owe us any money you owed us while your account was open. 

How do I get my money back after my account has been closed?

For the next six years after your account has been closed or your BABB Card has expired, you can contact customer service ( money@getbabb.com ) and request that we send you the money we still have on file for you. 

When your account is closed, you can withdraw your money in any currency you had in it at the time by transferring it to another bank account. 

If you need to exchange currencies before withdrawing, you will only be able to do so in your base currency (the currency of the country you live in).

If you request that we send you money in a currency other than the one we are holding for you, we will convert the currency at the current rate and deduct our fee before sending the money to you. 

8. How is my money protected?

When we become aware of a payment for your account, or you add money to it, we immediately issue the equivalent value of e-money to your account. 

When we receive that payment or money you add, we immediately either: 

    • place it into one of the dedicated client money bank accounts that we hold with large commercial or central banks (client money accounts keep your money separated from our own money, and the types of banks we can use are set by regulations), or

    • invest it in low-risk assets that are also kept in dedicated client accounts with financial institutions and have been approved by the regulator.

We call this “safeguarding”.  

The time at which we receive a payment for you or receive the money you add depends how we receive it:  

    • We only become aware of inbound bank transfers when they arrive in our bank account. When we receive these transfers, we immediately credit your account with e-money. 

    • When you add money to your BABB Mobile App (for example, by using a debit card, Apple or Google Pay when they are available, or other payment methods), we know the payment is on its way before we receive it, so we credit your account right away. However, we don’t safeguard the money for these payments until we actually receive it. 

We keep your money safe until you pay it out. This occurs when you use your BABB Card to spend or withdraw it, send it to another bank account or BABB user, or spend it in any other way.

What would happen in an insolvency? 

Safeguarding protects you if we were to become insolvent. If this occurs, you (along with all of our other customers) will be paid out of your e-money balances from our client money bank accounts. This process would be handled by an insolvency practitioner, not by us. 

However, safeguarding regulations ensure that once any costs associated with an insolvency are paid out, you will be paid first from our client money accounts. While Babb Remit Limited is a registered SEMI, it is not a bank so your money is safeguarded in a segregated account with ClearBank.

9. Keeping your BABB Account safe

We do everything possible to keep your funds safe. We ask that you do the same by keeping your personal information as well as your BABB Account and card details secure. 

We do everything possible to keep your funds safe. We ask that you do the same by keeping your personal information as well as your BABB Account and card details secure.  

This means you shouldn’t keep your security information near your BABB Card and any device you use to access your account, and you should disguise or protect them if you write them down or store them. Don’t share your security details with anyone other than an open-banking provider or third-party provider who is acting in line with regulatory requirements.  

Sometimes it’s easy to forget to take the steps you should take to keep your money safe. Here are a few tips:

    • When you’re not using the BABB Mobile App (or any other means of accessing your account), make sure to turn it off. 

    • Maintain the security of the devices you use to access your BABB Account. 

    • Keep the factors used to log into your BABB Account (such as your email account, 2FA, PIN code, password, and phone number) secure and do not allow others to use them. 

    • Download the latest operating system for the device you are accessing BABB from as soon as it is available, as well as the latest version of the BABB Mobile App.

If your BABB Card is lost or stolen, or if your BABB Card or security details are being used without your permission, please contact us as soon as possible via the BABB Mobile App.  

If possible, you should also use the BABB Mobile App to freeze your BABB Card. If you later realise there is no threat to the security of your BABB Card, you can unfreeze it.

How to Get in Touch with Us 

Tell us about a lost or stolen BABB Card or security details you can:

    • Write to us: Level39, One Canada Square, London, UK, E14 5AB

    • Send us a message through the BABB Mobile App, send us a message on social media, or email us on support@getbabb.com.

10. Are there any restrictions on using my BABB Account?

Please act reasonably and responsibly when using your BABB Account and any service we provide to you under it.

Your BABB Account cannot be used in the following ways, either directly or indirectly: 

    • For illegal purposes (such as committing fraud); 

    • In a way that we reasonably believe may harm our ability to provide our services; 

    • Only to send and receive funds from a card account; 

    • For any transaction involving the receipt of cash other than a withdrawal from an ATM (cash machine); 

    • To control or use a BABB Account that’s not yours; 

    • To give BABB Cards to any other person;

    • To give anyone else access to or use of your account or the BABB Mobile App; 

    • To abuse, exploit, or circumvent any usage restrictions imposed by a service provider with whom your BABB Card is registered. For example, you must only use one BABB Card for any particular service provider that offers a free subscription or trial period; or to trade in foreign currencies for speculative purposes (that is, to profit from any expected rise or fall in the value of a currency) or to profit from foreign exchange market discrepancies. 

Please also act in a respectful way towards us and our support staff – we’re here to assist you.

11. Adding money to my account

You can fund your account using a registered card (we call this your “stored card”) or using a bank transfer. Your stored card must be registered in your name. 

When adding money via bank transfer, you must use the account information listed in the BABB app. When we receive the funds, we will credit your account with the equivalent amount of e-money. To avoid delays, make sure you carefully follow the app’s prompts.

The account details you must use to add money to your account will vary depending on the currency. To add money to your account in pound sterling (£), for example, you must use the ‘British Pound account’ details specified in the BABB app.  

If you use a stored card or a bank account in one currency to deposit funds into another currency, your bank or card provider may charge you a fee.

Payment limits 

We may occasionally limit the amount you can deposit or withdraw from your account, as well as the amount you can withdraw or spend with your BABB Card. We may also limit the amount of currency exchange you carry out at any given time or over a given period of time. These limits can change from time to time.

Keep your currencies consistent

It’s important that any payment to your account is made in the currency of your account.

In some regions, there are fees for adding money in certain ways. 

We will always make every effort to ensure that you can add money without incurring fees. However, some methods of adding money in some regions come at a cost to us. Where they do, we may pass that cost on to you as a fee. This fee will always be disclosed in advance. Our Fees Page explains how these fees are calculated.

12. Transferring money and Making payments 

Transferring money between BABB Accounts

You can transfer funds to and receive funds from other BABB Accounts (we call these types of payments “Internal Transfers”). Internal Transfers are received instantly. 

You can make an Internal Transfer to another user’s BABB Account by selecting them from the contacts list in the BABB Mobile App, using their username, or any other method we provide to identify them, and then following the prompts.

External transfers 

The BABB Mobile App makes it simple to transfer money to your or another person’s bank account. You have the option of making a one-time payment or setting up recurring payments when they become available. Simply enter the sort code and account number (or, for international payments, the IBAN) of the account to which you want to send money into the BABB Mobile App and follow the prompts. We may also require additional information.

Money you asked us to transfer to someone will not be transferred into their account and will be returned to you for various reasons. If we had to exchange currencies when we sent the payment and can demonstrate that we did everything correctly, we will return the money to you in the converted currency or convert it back to the original currency. This means that depending on the currency conversion rate at the time of return, the amount you receive back into your account may be less or more. We are not liable for any losses you incur as a result of this.

Customer-Initiated Payments  

Payments initiated by the customer must be for a set amount. The set amount will be a one-off payment. You will be asked to confirm and authenticate the amount of a Customer-Initiated Payment, and any recurrence of  it, in the checkout or signup flow. The business will only ever be paid the amount you confirm, and the business cannot collect any other payments without your permission.

Recurring Customer-Initiated Payments

When you confirm Recurring Customer-Initiated Payments on a third-party facility, you will be able to cancel them at any time. For more information, please read the terms of the third-party service provider. 

When Recurring Customer-Initiated Payments become available on the BABB Mobile App, you will be able to cancel them at any time, but you must do so the day before the payment is due.

Using your BABB Card

You can also use your BABB Card to make payments or withdraw cash. When you use your BABB Card to make an ATM withdrawal or a payment (for example, in a shop or restaurant), we will consider the payment to be authorised by you unless the following conditions are met: 

    • You notify us that money has been stolen from your account.

    • You believe we have not followed your instructions correctly. 

We may charge you a fee for withdrawals on occasion. These fees are detailed on our Fees page. We are not liable for any losses incurred when payments are returned in a different currency.

Refunds for Merchant Initiated Payments 

Merchant Initiated Payments are deducted from your account based on a previous consent you provided. We encourage merchants to inform you of the amount of any Merchant Initiated Payment before accepting it. If you believe a Merchant Initiated Payment was made in error, contact the merchant within 10 days and request a refund. We may be able to support your request within 8 weeks of the payment. Contact us via chat to request a refund, and we will notify you within 10 business days if your refund is approved.

Direct Debit

A direct debit is any payment that is deducted from your account by the business to which you are making the payment. A direct debit differs from other types of payments in that it is collected by the company you are paying (instead of being initiated by you). The company you’re paying must have your permission to do so. 

Direct debits are set up by the company you are paying to and their bank. Their bank will contact us to confirm that you have authorised the direct debit. They will calculate the payment amount and contact us to collect it as well.

We currently support direct debits in pounds sterling to UK accounts (via the Bacs scheme). You have complete control over your direct debit. Direct debits in the United Kingdom can be cancelled before 3 p.m. on the business day they are due.

If you have made a direct debit in pounds sterling to a UK account (via the Bacs scheme), you can ask us to request a refund on your behalf by submitting a Direct Debit Indemnity Claim. The outcome of your claim will be determined by the Bacs scheme’s rules.

Card Transfers

Once this feature is available, you can use the BABB Mobile App to send money to a card. This means a payment that is sent via card schemes instead of traditional payment schemes. The recipient of the payment is identified by their card number instead of their bank account number.

Card transfers are sent instantly and should arrive within 30 minutes. This means that there is no way to cancel this type of payment once it has been sent, so please double-check the information you enter.

13. What happens if a payment was sent to the wrong account, wasn’t sent at all or was delayed?

We will always make every effort to process your payments correctly and on time, but mistakes do happen and a payment may be delayed or not received by the person you intended to pay. 

What should you do if you believe someone has made a mistake?

If something went wrong and the person you paid or the person who paid you is in the EEA, please notify us via the BABB app. Please notify us as soon as possible, but no later than 13 months after payment. 

The EEA includes all of the European Union’s member countries, as well as Norway, Iceland, and Liechtenstein. 

If the money is not received into the account you sent it to due to an error on our end, we will refund it to your account. We’ll also refund any charges or interest you’ve had to pay as a result of our error.

If we receive a payment on your behalf but it is not credited to your account in a timely manner, we will immediately credit your account with the amount of the payment. Currency exchanges are exempt from these rules.

What should you do if you believe you have made a mistake? 

Before making a payment, always double-check that you have entered the correct account details for the person you want to pay. And it’s always a good idea to make a small test payment (say, £1) to ensure that account details you have are correct. Always keep the following in mind: 

    • Always make sure you know who you’re paying. If someone approaches you and asks you to make a payment to them, but you don’t know who they are or what the payment is for, you may be a victim of a scam, and we may be unable to recover the money for you.

    • The BABB Mobile App contacts are drawn from the names and phone numbers you have saved to your own phone. We and no one else have verified these names and numbers. This means that if you save the incorrect number or name to your phone, you will pay the incorrect person and may lose your money.

    • Individual users can change the usernames displayed in the BABB Mobile App, which may appear similar to other usernames. We take steps to remove any inappropriate usernames, but neither we nor anyone else verify these usernames. This means that if you are unsure whether or not the person is who they claim to be, you may pay the wrong person and lose your money.

We are not liable if we make a payment to the person you specify, even if you provided us with the incorrect account number, username, or phone number. However, if you request it, we will make every effort to recover your funds. We may also attempt to obtain information about the beneficiary (if the law allows us to) so that you can seek it yourself . While we will make every effort to do so, we cannot guarantee that we will, and in some cases we will not be able to.

Although we may provide you with “confirmation of payee” services for some payments, the decision to make those payments is ultimately yours. We provide these services to assist you in making a more informed decision; however, the information is provided by the institution holding the payee’s account, not by us, so we cannot guarantee its accuracy. This means that we, as well as any third parties we use to provide these services to you, are not liable for any payments you make to the incorrect account.

What will we do if we or someone else makes a mistake? 

If, on the other hand, a payment is made in error into your BABB Account, we can reverse it or place a hold on it. If we pre-fund a payment into your account and it does not arrive, we can reverse the payment or place a hold on it. 

We can reverse the payment or place a hold on it even if you have already spent some of your payment. If the person who made the mistaken payment files a legal claim to recover it, we may need to share your information with them. 

For these reasons, you should always check your account on a regular basis to ensure that everything is in order.

14. What exchange rate do you use?

Our exchange rate is specified on our  Fees Page. The BABB Mobile App always displays our current exchange rate. The fixed amount is determined by your base currency. Once we’ve converted a currency, the exchange rate we used will be displayed in your transaction history in the BABB Mobile App. 

The exchange rate may have changed between the time you told us you wanted to exchange currency and the time we converted it. This means that if you ask us to exchange your currency, you might get a little more or less than you expected.

We will not be held liable if you lose money as a result of a currency exchange. We are also not liable if you are charged fees or a different rate for a currency conversion by someone else. This is due to the fact that we do not charge those fees or have a different rate. Assume you’re travelling abroad and, when paying your bill at a restaurant, you agree (on the card machine) to pay in your home currency rather than the restaurant’s local currency. When you do this, you are requesting that the restaurant (or their bank) convert the currency for you; they may charge a fee or use a different rate.

15. Can I cancel a payment or currency exchange?

If a payment from your account is scheduled to be made in the future (such as a recurring payment), you can cancel it using the BABB Mobile App at any time before the end of the business day before it is due. The only exception is UK direct debits, which can be cancelled at any time before 3 p.m. on the due date. 

You cannot cancel a payment once it has been made. This means you won’t be able to cancel any payments you ask us to make right away (like an Instant Transfer or a currency exchange).

16. How long does it take to make a payment?

We understand that one of the most important aspects of making a payment is that the recipient receives it on time. When their bank receives the money is determined by the time you tell us to make the payment and the currency you specify. 

The following bullets explain when we’ll make payments:

    • When you make an Internal Transfer to a BABB Account, the payment will be received immediately. 

    • If you make an External Transfer or Payment to someone else’s bank account before 1pm on a business day, we will receive and execute upon these payment instructions right away. If you send us your payment instructions after 1pm on a business day, or on a non-business day, we will execute it the following business day.

    • When you use a card transfer to make a payment, you can provide your payment instruction at any time, and we will receive it immediately.

The following bullets explain when we’ll make payments in different currencies:

    • If you make a payment in pound sterling (£) to a UK bank account, it will arrive in a few minutes (usually in seconds). 

    • If you make a payment in pound sterling (£) or euro (€) to an EEA bank account, it will be transferred from your account to the account of the person you are paying the following business day. 

    • If you make a payment in any currency other than pound sterling (£) or euro (€) to an EEA bank account, it will reach the account of the person you are paying up to four working days after we have taken the payment from your account.

    • If you make a payment in a currency other than pound sterling (£) or euro (€) to a bank account outside the EEA, the payment will be transferred to the account of the person you are paying as soon as we can. It depends on where the bank of the person you want to pay is located and the currency itsleft. 

If you instruct us to exchange currencies, you will receive the converted e-money immediately.

17. When we will refuse or delay a payment

In the following cases, we must refuse to make or delay a payment (including inbound and outbound payments):

    • If legal or regulatory requirements prevent us from making the payment or necessitate additional checks.

    • If you have violated these terms and conditions in a way that we believe justifies us refusing or delaying payment.

    • If we believe that processing your instruction would violate these terms and conditions, or if your instruction lacks all of the information we require to properly process the payment.

    • If the amount exceeds, or would cause you to exceed, any limit set in our FAQs that applies to your account.

    • If there is insufficient money in your account to cover the payment and any charges.

    • If you have a bankruptcy order against you or have made an individual voluntary arrangement with your creditors.

    • If, despite doing everything reasonable, we are unable to make the payment on time.

    • If we are prevented from making the payment by a third party (for example, if Mastercard or Visa do not allow a payment or cash withdrawal using your BABB Card).

    • If you owe us money or if we intend to use our set-off rights (as explained below). 

    • If we have asked you for important information that we reasonably require and you have not provided it to us.

    • If your account has been suspended.

We may also refuse to issue a new BABB Card if there is insufficient money in your account to cover the cost of issuing or delivering the card. 

We will always try to notify you if we are unable to make a payment. 

If possible, we will notify you via the BABB Mobile App that we have refused to make a payment. If you want to know why we refused the payment and what you can do to resolve any issues, please contact us via the app. 

We will not be liable for any losses you incur as a result of our refusal or delay in making a payment.

18. Fees for making or receiving payments

In order to provide a service, we must sometimes charge a fee. We strive to keep our fees as close to 0 as possible. We’ll always show you any fee that applies to a payment in the app before you make the payment, and you can also see our current fees on our  Fees Page . 

We will not charge you any fees for receiving payments. We will not charge you any fees for sending local payments in your base currency.

We may charge a cross-border or SWIFT payment fee if you make a payment in another currency or to another country. These charges are detailed on our  Fees Page . Before you make a payment, we will always inform you about them and tell you how much they cost in the BABB app.

Other banks involved, such as the bank of the person you’re paying or intermediary banks (banks that help transfer money between other banks), may deduct fees from the payment you’re sending or receiving. This may imply that you or the person to whom you are paying receive less than expected. For example, if someone sends you £100, you may only receive £90 because the other person’s bank charges a £10 fee. This could occur if:

    • The bank of the person to whom you are sending or receiving a payment is within the EEA, and the payment is in a currency other than the currency of an EEA member state.

    • You send or receive a payment from someone whose bank is located outside the EEA.

You will be charged a fee if you make a card transfer. This fee will depend on the amount you are sending and where you are sending it to. This fee will be calculated in real time and displayed in the app prior to payment.

19. What happens if someone steals from my account?

If you believe someone has stolen from your account, please notify us as soon as possible via the BABB app (and no later than 13 months after the money was taken). We will refund your money if:

    • You could not have known that your security details or BABB Card were at risk of being misused. 

    • The payment occurred as a result of an error made by someone for whom we are responsible. 

    • The payment was processed after you informed us that someone had your security information, your BABB Card had been lost or stolen, or that we had not provided you with a mechanism to notify us of these circumstances.

    • When you instructed us to make the payment, the law required us to make you follow certain prompts, which we did not do.

Additionally, we’ll reimburse you for any fees you incurred as a result of the payment being deducted from your account. 

If you committed fraud or purposefully or recklessly failed to keep your security information or BABB Card secure, we won’t refund any money to you (unless you told us about this before the payment was taken from your account). We won’t issue a refund, for instance, if you gave someone your BABB Card PIN and they used it to make a purchase without telling you.

20. When we might block your account or BABB Card

We place utmost importance on the security of your funds. We may refuse to allow you to make payments from your account or with your BABB Card if we are reasonably concerned about its security or the possibility that it will be used fraudulently or without your permission. 

To meet our legal obligations, we may also have to block your account or BABB Card.

As soon as we can, we’ll let you know if we’ve blocked your BABB Card or BABB Mobile App via the BABB Mobile App, or by email if we block your BABB Mobile App. We’ll also explain why we did it to you (unless it would reduce your or our security or it would be unlawful).

21. When could you suspend or close my account?

In exceptional situations, we reserve the right to immediately close or suspend your account (including access to our cryptocurrency and CurrencyX services). Examples of exceptional situations include the following:

    • If we have reason to believe you are engaging in fraudulent or criminal behaviour. 

    • If you have not provided us (or someone acting on our behalf) with any information we require, or if we have reason to believe that the information you have provided is incorrect or false. 

    • If you have violated these terms and conditions in a serious or persistent manner and have not rectified the situation within a reasonable time of our request. 

    • If we have reasonable grounds to suspect that your use of the BABB Mobile App is harmful to us or our software, systems, or hardware 

    • If we have reason to believe that your continued use of your account will harm our reputation or goodwill.

    • If we have asked you to repay money you owe us and you have not done so within a reasonable time.

    • If you have been declared bankrupt.

    • If we are required to do so by law, regulation, court order, or ombudsman instructions. 

If your account is closed due to exceptional circumstances, you will be able to exchange funds into your base currency, sell any cryptocurrency or CurrencyX, and send money via external bank transfer before the account is closed. You will be unable to credit the account, make card payments, withdraw funds from an ATM, or transfer funds to other BABB Accounts. Payments received will be rejected and returned to the sender.

22. We can change these terms

We’ll only change these terms and conditions for the following reasons:

    • If we believe it will make them more understandable or useful to you. 

    • To reflect the way we run our business, especially if the change is required due to a change in the way any financial system or technology is provided.

    • To reflect any applicable legal or regulatory requirements. 

    • To reflect changes in our company’s operating costs. 

    • Because we are changing or introducing new services or products that will have an impact on the existing services or products covered by these terms and conditions.

Informing you of changes 

If we add a new product or service that does not change the terms and conditions of your account, we may do so right away and notify you before you use it. Otherwise, we will provide you with two months’ notice via the BABB Mobile App before making any changes. We’ll assume you’re satisfied with the change unless you tell us otherwise before the change is implemented.

23. Your refund rights for BABB Card payments

If all of the following conditions apply, you may request a refund of an amount deducted from your account: 

    1. You agreed that a payment could be taken but did not agree on the amount of the payment.

    1. The amount taken is greater than you reasonably expected in all circumstances (including your spending pattern).

    1. The person you paid is in the EEA.

    1. You did not authorise the payment directly with us.

    1. We and the person you paid did not give you any information about the payment during the four weeks before it was taken. 

    1. You request a refund within eight weeks of the payment being deducted from your account.

For example, if you gave a hotel permission to charge your BABB Card for anything you took from the minibar, but the hotel charged you more money than you could reasonably have expected at the time you gave them permission to do so, you may be eligible for a refund. 

We may need more information from you in order to investigate the situation. Within 10 business days of receiving the requested information, we will issue a refund or explain why we were unable to do so.

24. Are you responsible if something goes wrong with my account, my BABB Card or the BABB Mobile App?

We will do everything reasonably possible to ensure that our services are not disrupted and are available at a reasonable speed. However, we cannot guarantee that this will always be the case or that the services will be fault-free. We also rely on third parties to provide services to you, which can occasionally cause disruptions in our services. We will always do our best to resolve any issues with our services, regardless of the cause. 

We will not be liable for any losses incurred as a result of our failure to meet our obligations for payments into and out of your account when: 

    • You violated these terms and conditions or acted unlawfully.

    • Of a legal or regulatory requirement.

    • Of unforeseeable events beyond our control that were unavoidable at the time.

We will only be liable for losses that are reasonably foreseeable. If we breach the agreement, we will only be liable for losses that we could have anticipated when we entered into the agreement. 

If you have a BABB Card, we will notify you of any system changes that will affect your ability to use the card. If you are unable to use your BABB Card for any reason, we will only be responsible for replacing it. 

Nothing in these terms and conditions excludes or limits our liability for death or personal injury caused by our negligence, or for fraud or false claims and statements.

25. How you might owe us money

You may be liable for taxes or costs incurred as a result of payments made or received through your account that we are not obligated to collect from you. However, in some cases, we may collect the appropriate amount of fees or stamp duties up to the legal maximum. For example, we will be required to do so by the Irish Revenue Commissioners if you are a legal resident of the Republic of Ireland or you withdraw money from an ATM in the Republic of Ireland. So please double-check for yourself.

The fees you may be required to pay us are detailed on our  Fees Page.

If you owe us fees (other than third-party fees for making or receiving a payment) or any other amount, we will deduct the amount owed from your account in the currency of the country in which you reside (your base currency). 

If there is insufficient money in your account in your base currency, we will take the equivalent value from money in another currency. If you do not have enough money in your account to pay the fees or other amounts you owe us, we may be able to recover the money in another way, as explained below.

If you owe us money and do not top up or repay us within seven days, we can recover the amount by: 

    • Transferring the amount you owe us from your stored card; exercising our set-off right. 

    • Taking additional legal action to recover the money you owe us, such as hiring lawyers or debt collectors.

We may charge you our reasonable costs if we take any (or all) of these steps.

26. When you might be responsible for our losses

Certain losses may be attributed to you. If you violate these terms and conditions and cause us to suffer a loss, the following will apply: 

    • You will be liable for any losses we incur as a result of your actions (we will try to keep the losses to a minimum). 

    • If your actions cause us to lose money, you may be held accountable for those losses. You will not be held liable if we are compensated twice for the same loss. 

    • You will also be liable for any reasonable legal fees incurred as a result of our losses.

27. How to make a complaint

If you are dissatisfied with our service, we will make every effort to make things right. 

We always do our best, but we recognise that mistakes do occur. Please contact us if you have a complaint: money@getbabb.com. 

More information about our complaint handling procedure can be found by clicking here.

The Financial Ombudsman Service

If you are unhappy with how we have dealt with your complaint, you can refer it to the Financial Ombudsman Service within six months of the date we sent (or should have sent) our final response to you.

Their address is: Exchange Tower London E14 9SR. 

Phone from UK: 0800 023 4567.

Phone from outside UK: +44 20 7964 0500.

You can find more information on their website.

You can also file a complaint with the Financial Conduct Authority if your complaint is about our service regarding payments into and out of your account. 

28. Permission for us to process your personal information

We need to collect information about you in order to provide services under the agreement. We are the ‘data controller’ of your personal information under data protection law. See our Privacy Policy for more information on how we use your personal information. 

By opening a fiat account and using it, you grant us permission to collect, process, and store your personal information in order to provide you with our services. This has no bearing on any rights or obligations you or we may have under data protection law.

You can revoke your permission by closing your account, which will terminate our agreement with you. If you do this, we will no longer use your information to provide our services, but we may need to keep your information for other legal reasons.

29. Our intellectual property

Except as stated in section 33 below, we own all intellectual property rights in our products (for example, the content in our app and on our website, our logo and card designs). Except for the purpose of enjoying our products, you must not claim our intellectual property as your own. You may not also reverse engineer any of our products (that is, reproduce them after a detailed examination of their construction or composition).

30. Some legal bits and pieces

Our agreement with you 

The agreement grants you and us exclusive rights. 

The agreement is personal to you, and no rights or obligations under it may be transferred to anyone else. 

Our ability to transfer 

We will only transfer any of your or our rights or obligations under the agreement if we believe it will not have a significant negative impact on your rights under these terms and conditions or if we are required to do so by law or regulation. We call this ‘novation’ when we transfer rights and obligations. We call this ‘assignment’ when we only transfer rights.

English law applies 

These terms and conditions are governed by the laws of England and Wales. 

The English version of the agreement applies 

If these terms and conditions are translated into another language, the translation is only for reference purposes, and the English version will take precedence. 

Intellectual property of third parties 

The BABB Mobile App uses some features, integrations and content, including intellectual property that we do not own. As a result, your use of such features and content is subject to the third party Additional Terms of Service. You will be notified when such terms are applicable to you.

Our right to compel compliance with the agreement 

If you violate the terms of our agreement and we do not enforce our rights or delay in enforcing them, this does not preclude us from enforcing those or any other rights at a later date. 

Filing a lawsuit against us 

If you wish to take legal action against us, only the courts of England and Wales have jurisdiction over any matter relating to these terms and conditions.

Fees & Limits
Privacy Policy