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Terms of Service

Effective Date: August 10, 2025

Last Updated: August 27, 2025

Version: 2.0

1. About GoSaveSum and These Terms

1.1 Company Information

GoSaveSum Ltd is a private limited company registered in England and Wales.

Company Registration Number: 12514788

Registered Office: 1 Quality Court, Chancery Lane, London WC2A 1HR

Regulatory Status:

  • Authorised and regulated by the Financial Conduct Authority (FCA)
  • Firm Reference Number (FRN): 822499
  • You can verify our regulatory status at: https://register.fca.org.uk/

1.2 These Terms

These Terms and Conditions ("Terms") govern your use of the GoSaveSum mobile application and related financial services ("Services"). By creating an account or using our Services, you agree to be bound by these Terms.

Important Legal Notice: These Terms constitute a legally binding agreement between you and GoSaveSum Ltd. Please read them carefully before using our Services.

2. Our Financial Services

2.1 Service Description

GoSaveSum provides:

  • Account Aggregation Services: View multiple bank accounts in one place via Open Banking
  • Financial Analytics: Spending analysis, budgeting tools, and financial insights
  • Savings Management: Goal setting, progress tracking, and automated savings features
  • Educational Content: Financial literacy resources and personalized recommendations

2.2 Open Banking Services

  • We act as an Account Information Service Provider (AISP) under PSD2
  • We connect to your bank accounts through authorized Open Banking APIs
  • We use Salt Edge Limited (FCA FRN: 800448) as our Open Banking technology provider
  • Your consent is required for each bank account connection

2.3 Service Availability

  • Services are available 24/7, subject to planned maintenance and technical issues
  • We may temporarily suspend Services for security, regulatory, or technical reasons
  • We will provide reasonable notice of planned maintenance where possible

3. Your Account and Responsibilities

3.1 Account Creation

Eligibility Requirements:

  • You must be at least 18 years old
  • You must be a UK resident
  • You must provide accurate and complete information
  • You must have legal capacity to enter into these Terms

Account Security:

You are responsible for maintaining the confidentiality of your login credentials

You must notify us immediately of any unauthorized access

You agree to use strong passwords and enable biometric authentication where available

We may suspend your account if we suspect unauthorized access

3.2 Acceptable Use

You agree to:

  • Use our Services only for lawful purposes
  • Provide accurate and up-to-date information
  • Comply with all applicable laws and regulations
  • Respect the intellectual property rights of GoSaveSum and third parties
  • Use the Services in accordance with these Terms

You agree not to:

  • Use the Services for any illegal or fraudulent activities
  • Attempt to gain unauthorized access to our systems or other users' accounts
  • Reverse engineer, decompile, or attempt to extract our source code
  • Use automated systems (bots, scrapers) to access our Services
  • Share your account credentials with third parties
  • Use the Services to harass, abuse, or harm others

3.3 Financial Information Accuracy

  • You confirm that all financial information you provide is accurate and current
  • You authorize us to access your bank account information through Open Banking
  • You understand that incorrect information may affect the quality of our Services
  • You will notify us promptly of any changes to your financial circumstances

4. Open Banking and Bank Connections

4.1 Consent and Authorization

  • You explicitly consent to us accessing your bank account information
  • This consent covers account details, transaction history, and balance information
  • You can withdraw consent at any time through the app or by contacting us
  • Withdrawing consent will limit the functionality of our Services

4.2 Bank Account Security

  • We use Strong Customer Authentication (SCA) as required by PSD2
  • Your banking credentials are never stored by GoSaveSum
  • All connections use secure, encrypted channels
  • We comply with all Open Banking security standards

4.3 Third-Party Banking Providers

  • We access your accounts through authorized Open Banking APIs only
  • We are not responsible for your bank's availability or technical issues
  • Banks may impose their own terms for Open Banking access
  • You remain subject to your bank's terms and conditions

5. Fees and Charges

5.1 Current Fee Structure

  • Basic Services: Currently free of charge
  • Premium Features: May be subject to subscription fees (when introduced)
  • Third-Party Fees: We are not responsible for charges imposed by your bank or network provider

5.2 Fee Changes

  • We reserve the right to introduce or modify fees with 30 days' notice
  • Changes will be communicated via email and app notification
  • Continued use after fee changes indicates acceptance
  • You may cancel your account if you do not agree to fee changes

5.3 Payment Terms

  • Subscription fees (if applicable) are charged in advance
  • All fees are inclusive of VAT where applicable
  • Refunds are subject to our refund policy and applicable consumer law
  • Failed payments may result in service suspension

6. Intellectual Property

6.1 GoSaveSum Intellectual Property

  • The GoSaveSum app, website, and all content are owned by GoSaveSum Ltd
  • Our trademarks, logos, and brand materials are protected intellectual property
  • You may not reproduce, distribute, or create derivative works without permission
  • This license is personal, non-transferable, and revocable

6.2 User-Generated Content

  • You retain ownership of any data you input into our Services
  • You grant us a license to use your data to provide our Services
  • You warrant that you have the right to provide any information you submit
  • We may use anonymized, aggregated data for service improvement

6.3 Third-Party Content

  • Our Services may contain links to third-party websites or services
  • We do not endorse or control third-party content
  • Your use of third-party services is subject to their own terms
  • We are not liable for third-party content or services

7. Data Protection and Privacy

7.1 Data Processing

  • Your personal data is processed in accordance with our Privacy Policy
  • We are committed to protecting your privacy and complying with UK GDPR
  • You have full control over your personal data and can exercise your rights at any time
  • Please refer to our Privacy Policy for complete details

7.2 Data Security

  • We implement industry-standard security measures
  • All data is encrypted in transit and at rest
  • We maintain comprehensive security policies and procedures
  • We will notify you of any data breaches as required by law

8. Service Limitations and Disclaimers

8.1 Service Limitations

No Financial Advice:

  • GoSaveSum provides information and tools, not financial advice
  • We are not authorized to provide investment advice
  • You should seek independent financial advice for major decisions
  • All financial decisions remain your sole responsibility

Information Accuracy:

  • We strive for accuracy but cannot guarantee all information is error-free
  • Bank data depends on the accuracy of information provided by your banks
  • You should verify important information independently
  • We are not liable for decisions based on inaccurate information

8.2 Technical Limitations

  • Services depend on third-party systems (banks, internet providers)
  • We cannot guarantee 100% uptime or availability
  • System performance may vary based on external factors
  • We reserve the right to modify features or functionality

8.3 Regulatory Changes

  • Financial services regulations may affect our Services
  • We may need to modify Services to maintain regulatory compliance
  • Changes will be communicated in accordance with regulatory requirements
  • Continued compliance may require service modifications

9. Limitation of Liability

9.1 Liability Exclusions

To the maximum extent permitted by law, GoSaveSum excludes liability for:

  • Indirect, consequential, or special damages
  • Loss of profits, revenue, or business opportunities
  • Data corruption or loss (beyond statutory requirements)
  • Service interruptions or system failures
  • Third-party actions or omissions

9.2 Liability Limits

  • Our total liability is limited to the fees paid by you in the 12 months preceding the claim
  • This limit applies per incident and in aggregate per year
  • These limits do not apply to death, personal injury, or fraud
  • Consumer statutory rights are not affected

9.3 Force Majeure

We are not liable for delays or failures due to:

  • Natural disasters, pandemics, or other emergencies
  • Government actions, regulatory changes, or legal restrictions
  • Internet outages, cyber attacks, or technical infrastructure failures
  • Labor disputes, strikes, or other industrial action

10. Consumer Rights and Protections

10.1 UK Consumer Law

Your statutory rights under UK consumer law are not affected by these Terms, including:

  • Consumer Rights Act 2015 protections
  • Right to reject faulty services within 30 days
  • Right to require repeat performance or price reduction
  • Right to cancel contracts made at a distance

10.2 Financial Services Protections

FCA Consumer Protection:

  • We comply with FCA Principles for Businesses
  • Treating Customers Fairly (TCF) principles apply
  • Consumer Duty obligations are observed
  • Vulnerable customer protections are in place

Complaints and Compensation:

  • You can complain to us directly using our complaints procedure
  • If unsatisfied, you can escalate to the Financial Ombudsman Service
  • Financial Services Compensation Scheme (FSCS) may apply where relevant

10.3 Cooling-Off Period

  • For distance contracts, you have a 14-day cooling-off period from account creation
  • You can cancel without reason during this period
  • Cancellation rights may be waived if you request immediate service provision
  • Refunds will be provided in accordance with consumer law

11. Account Termination

11.1 Your Right to Terminate

  • You may close your account at any time
  • Account closure can be requested through the app or by contacting support
  • We will process closure requests within 30 days
  • You remain liable for any outstanding fees or obligations

11.2 Our Right to Terminate

We may suspend or terminate your account if:

  • You breach these Terms or our policies
  • We suspect fraudulent or illegal activity
  • Required by law or regulatory authorities
  • You become ineligible for our Services
  • For legitimate business or risk management reasons

Termination Process:

  • We will provide reasonable notice except where immediate action is required
  • You will have opportunity to remedy breaches where appropriate
  • Account data will be handled in accordance with our Privacy Policy
  • Outstanding fees remain payable after termination

11.3 Effect of Termination

  • Your right to use our Services will cease immediately
  • Data will be retained in accordance with our retention policies
  • Clauses that should survive termination will remain in effect
  • No refunds for unused subscription periods unless required by law

12. Complaints and Dispute Resolution

12.1 Internal Complaints Procedure

Step 1: Contact Us

  • Email: support@gosavesum.com
  • Phone: [Insert phone number if available]
  • We will acknowledge complaints within 3 business days
  • We aim to resolve complaints within 8 weeks

Step 2: Investigation

  • We will investigate complaints thoroughly and fairly
  • You will receive regular updates on progress
  • We may request additional information from you
  • Final response will include our decision and reasoning

12.2 External Resolution

Financial Ombudsman Service:

Alternative Dispute Resolution:

  • We participate in alternative dispute resolution schemes where appropriate
  • European Online Dispute Resolution platform available for EU residents
  • Arbitration may be available by mutual agreement

12.3 Legal Action

  • These Terms are governed by English law
  • English courts have exclusive jurisdiction
  • You retain the right to bring proceedings in your country of residence for consumer contracts
  • Class action waiver may apply where permitted by law

13. Regulatory Compliance

13.1 FCA Compliance

As an FCA-regulated firm, we commit to:

  • Treating customers fairly at all times
  • Maintaining adequate capital and liquidity
  • Operating with integrity and professional competence
  • Providing clear and fair communication
  • Handling complaints promptly and fairly

13.2 Open Banking Compliance

Under Payment Services Regulations 2017:

  • We maintain appropriate authorization for account information services
  • We comply with Strong Customer Authentication requirements
  • We adhere to data minimization and purpose limitation principles
  • We maintain adequate insurance and operational resilience

13.3 Anti-Money Laundering

  • We comply with Money Laundering Regulations 2017
  • Customer due diligence procedures apply
  • We monitor transactions for suspicious activity
  • We report to relevant authorities as required by law
  • Enhanced due diligence may apply to certain customers

14. Changes to Terms

14.1 Modification Rights

  • We may modify these Terms to reflect legal, regulatory, or business changes
  • Material changes will be communicated with at least 30 days' notice
  • Notice will be provided via email and app notification
  • Continued use after changes indicates acceptance

14.2 Rejection of Changes

  • You may reject material changes by closing your account before they take effect
  • Account closure will not incur penalties if done in response to Terms changes
  • Outstanding obligations will remain despite account closure
  • Consumer cooling-off rights may apply

14.3 Emergency Changes

  • Immediate changes may be made for legal, security, or regulatory reasons
  • Emergency changes will be communicated as soon as reasonably possible
  • Retrospective notice will be provided where immediate notice is not possible
  • Such changes will be limited to what is necessary

15. Technical Terms

15.1 System Requirements

Minimum Requirements:

  • Compatible smartphone with iOS 14+ or Android 8+
  • Active internet connection
  • Sufficient device storage for app installation
  • Updated web browser for web access

15.2 Service Availability

  • We target 99.5% uptime but do not guarantee continuous availability
  • Planned maintenance will be scheduled during off-peak hours where possible
  • Emergency maintenance may be performed without notice
  • Service credits may be available for significant outages

15.3 Data Backup and Recovery

  • We maintain regular backups of your data
  • Recovery procedures are in place for technical failures
  • You are responsible for maintaining your own records
  • We cannot guarantee complete data recovery in all circumstances

16. Third-Party Integrations

16.1 Banking Partners

  • Bank connections are facilitated through Open Banking APIs
  • We are not responsible for bank system availability or performance
  • Bank-specific terms and conditions apply to your banking relationships
  • Banks may restrict or withdraw Open Banking access

16.2 Service Providers

Salt Edge Limited (Open Banking Provider):

Other Providers:

  • Cloud infrastructure, analytics, and support services
  • All providers are subject to appropriate contractual safeguards
  • Data Processing Agreements are in place where required
  • We remain responsible for our obligations under these Terms

17. App Store Terms

17.1 Apple App Store

  • Additional terms from Apple's App Store Terms of Service apply
  • GoSaveSum, not Apple, is responsible for the app and its content
  • Apple has no obligation to provide support for the app
  • Third-party claims should be directed to GoSaveSum, not Apple

17.2 Google Play Store

  • Google Play Terms of Service apply to app downloads
  • GoSaveSum is solely responsible for app content and functionality
  • Google is not a party to these Terms between you and GoSaveSum
  • App-specific terms supplement but do not replace these Terms

18. Prohibited Activities

18.1 Illegal Activities

Strictly Prohibited:

  • Money laundering or terrorist financing
  • Fraud, identity theft, or impersonation
  • Tax evasion or other financial crimes
  • Violation of sanctions or trade restrictions
  • Any activity that violates UK or international law

18.2 System Abuse

Technical Violations:

  • Unauthorized access attempts or hacking
  • Introducing malware, viruses, or malicious code
  • Overwhelming our systems with excessive requests
  • Attempting to bypass security measures
  • Extracting or harvesting user data

18.3 Commercial Restrictions

  • Using our Services for commercial purposes without authorization
  • Reselling or redistributing our Services
  • Creating competing services using our intellectual property
  • Scraping or systematically extracting our content

19. Liability and Insurance

19.1 Professional Indemnity Insurance

We maintain appropriate professional indemnity insurance as required by FCA rules

Coverage meets minimum regulatory requirements

Insurance details available on request

Coverage applies to services within our regulatory scope

19.2 Limitation Periods

  • Claims must be brought within 6 years of the cause of action arising
  • Shorter limitation periods may apply under consumer protection law
  • Time limits for financial services complaints apply as per FCA rules
  • Fraud claims are subject to extended limitation periods

19.3 Proportional Liability

  • Liability allocation will consider the degree of fault
  • Contributory negligence principles apply where relevant
  • Mitigation obligations apply to all parties
  • Settlement and alternative dispute resolution are encouraged

20. Regulatory Information

20.1 FCA Supervision

  • GoSaveSum is supervised by the Financial Conduct Authority
  • FCA contact: 12 Endeavour Square, London, E20 1JN
  • FCA website: www.fca.org.uk
  • Consumer helpline: 0800 111 6768

20.2 Client Money Protection

  • We do not hold client money and are not required to comply with FCA client money rules
  • Your money remains with your authorized banks at all times
  • We cannot initiate payments or transfers from your accounts
  • We provide information services only

20.3 Financial Services Compensation Scheme

  • FSCS protection may not apply to our information services
  • Your bank deposits remain protected by FSCS through your banks
  • For questions about FSCS coverage: www.fscs.org.uk
  • Maximum compensation limits apply as set by FSCS

21. International Users

21.1 Territorial Limitations

  • Our Services are designed for UK residents only
  • We do not actively market to users outside the UK
  • Use from other jurisdictions may be restricted or prohibited
  • Local laws and regulations may impose additional restrictions

21.2 Cross-Border Services

  • International bank account connections may be limited
  • Additional verification may be required for non-UK accounts
  • Exchange rate information is provided for reference only
  • We are not liable for currency conversion errors

22. Age and Capacity Restrictions

22.1 Minimum Age Requirements

  • Users must be at least 18 years old
  • We do not knowingly provide services to minors
  • Age verification may be required
  • Accounts discovered to belong to minors will be immediately closed

22.2 Mental Capacity

  • Users must have mental capacity to enter into these Terms
  • We may require additional verification where capacity is in question
  • Enhanced protections apply to vulnerable customers
  • Support is available for users with accessibility needs

23. Marketing and Communications

23.1 Marketing Consent

  • Marketing communications require your explicit consent
  • You can opt out at any time through app settings or unsubscribe links
  • We comply with PECR (Privacy and Electronic Communications Regulations)
  • Consent is separate from service-related communications

23.2 Service Communications

  • We may send service-related emails and notifications
  • These include security alerts, service updates, and regulatory communications
  • These communications are necessary for service provision
  • You cannot opt out of essential service communications

24. Governing Law and Jurisdiction

24.1 Applicable Law

  • These Terms are governed by English law
  • English courts have exclusive jurisdiction over disputes
  • Consumer law protections remain applicable
  • Alternative dispute resolution is available

24.2 Severability

  • If any term is found unenforceable, the remainder continues in effect
  • Invalid terms will be modified to be enforceable while preserving intent
  • Material changes due to severability will be communicated to users
  • Local consumer law variations may apply

25. Contact Information

25.1 Customer Support

Email: support@gosavesum.com

Post: GoSaveSum Ltd, 1 Quality Court, Chancery Lane, London WC2A 1HR

Website: www.gosavesum.com

Response Time: We aim to respond within 48-72 hours

25.2 Legal and Regulatory Matters

Legal Inquiries: legal@gosavesum.com

Complaints: complaints@gosavesum.com

Data Protection: privacy@gosavesum.com

25.3 Regulatory Authorities

Financial Conduct Authority (FCA)

12 Endeavour Square, London, E20 1JN

www.fca.org.uk | 0800 111 6768

Information Commissioner's Office (ICO)

Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF

www.ico.org.uk | 0303 123 1113

Financial Ombudsman Service

Exchange Tower, London, E14 9SR

www.financial-ombudsman.org.uk | 0800 023 4567

26. Acknowledgment and Acceptance

By creating an account with GoSaveSum or using our Services, you acknowledge that:

  1. You have read and understood these Terms and Conditions
  2. You agree to be legally bound by these Terms
  3. You meet all eligibility requirements for our Services
  4. You understand the nature and risks of financial data sharing
  5. You have the authority to agree to these Terms
  6. You consent to our processing of your personal data as described in our Privacy Policy

27. GoSaveSum's Statement

GoSaveSum is registered by the Financial Conduct Authority (Firm Reference Number 822499) as an agent of Salt Edge Limited. Salt Edge Limited is registered by the Financial Conduct Authority (Firm Reference Number: 822499) and provides you with regulated account information services under the Payment Services Regulations 2017.

In order to access your payment accounts in the United Kingdom to provide you with account information services, GoSaveSum has partnered with Salt Edge Limited and, for these purposes, acts as their agent registered by the Financial Conduct Authority (Firm Reference Number 822499). Salt Edge Limited is registered by the Financial Conduct Authority (Firm Reference Number: 822499) under the Payment Services Regulations 2017 and provides you with the regulated account information services subject to Salt Edge's own terms. By accessing and using account information services hereunder you agree to Salt Edge's Terms of Delegated Account Information Services and Delegated Account Information Services: Privacy and Cookies Notice.

 

These Terms and Conditions, together with our Privacy Policy and any additional service-specific terms, constitute the entire agreement between you and GoSaveSum Ltd regarding your use of our Services.

Last Review Date: 27.08.25

Next Scheduled Review: 27.02.26

GoSaveSum Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 822499). Registered in England and Wales (Company No: 12514788). Registered office: 1 Quality Court, Chancery Lane, London WC2A 1HR.