These terms are a template prepared for launch. Items in [square brackets] must be completed and the document reviewed by your legal or compliance team before the site goes live.
About these terms
These terms govern your use of the BankWells website and app and the services we provide. BankWells is operated by BankWells LTD, registered in the United Kingdom under company number 8239912, with its registered office at 162a Clapton Common, London, England, E5 9AG. BankWells LTD is a financial technology company and is not a bank.
By opening an account or using our services you agree to these terms and to our Privacy Policy. Some products have additional terms, which we will show you before you use them.
Eligibility
- You must be at least 18 years old and a resident of a country where BankWells is available.
- You must pass our identity, fraud and anti-money laundering checks.
- Business accounts are available to registered businesses represented by an authorised person.
Your account
You must give us accurate information and keep it up to date. Your account is for your own use, or for your business if you hold a business account. You are responsible for all activity carried out with your login details.
Our services
Accounts and payments
Banking or e-money services are provided by [partner name], [licence/regulatory status]. Funds held in your BankWells account are [safeguarded / protected up to [amount] by [scheme name]].
Cards
BankWells cards are issued by VISA / MasterCard under a Banking licence, authorised and regulated by the Seychelles Financial Services Authority (firm reference number: FSA-SC-847291). Card issuance is subject to approval.
Savings
Savings products, including fixed-term plans, have their own rates, minimum deposits and lock-in periods, which are shown before you open them. Rates may change in line with the product terms.
Trading and investment risk
Trading FX, stocks, ETFs and digital assets involves risk, including the possible loss of your capital. Leveraged products can magnify both gains and losses and are not suitable for everyone. Digital assets are highly volatile and are not [insured / protected by [scheme]]. Past performance does not guarantee future results. Trading services are provided by [trading entity name], [regulatory status and number]. We do not give investment advice.
Fees
Our current fees and limits are listed in the app and in our [fee schedule]. We will tell you in advance before we introduce new fees or increase existing ones.
Keeping your account safe
- Keep your device, passcode and biometric login secure and never share them.
- Tell us immediately if your card or device is lost or you suspect unauthorised activity.
- Freeze your card from the app at any time; we may also block payments that look unusual.
Acceptable use
You must not use BankWells for anything unlawful, to receive the proceeds of crime, to attempt to bypass our security, or in a way that could damage our services or other customers.
Our liability
We are responsible for losses caused by our failure to provide the services with reasonable care and skill. We are not responsible for losses caused by events outside our control or by you acting fraudulently or with gross negligence. Nothing in these terms limits liability that cannot be limited by law.
Suspending or closing your account
You can close your account at any time from the app or by contacting us. We may suspend or close your account with notice, or immediately where required by law or where we reasonably suspect fraud or a serious breach of these terms.
Complaints
If you are unhappy with our service, contact us at support@BankWells.com. We will acknowledge your complaint promptly and aim to resolve it within [timeframe]. If you are not satisfied with our response you may be able to refer it to [ombudsman / dispute resolution body].
Governing law
These terms are governed by the laws of [jurisdiction], and the courts of [jurisdiction] have jurisdiction.
Changes to these terms
We may change these terms by giving you at least [two months'] notice, unless the change is required by law or is in your favour. The date at the top shows when they were last updated.
Contact us
BankWells LTD
162a Clapton Common, London, England, E5 9AG
support@BankWells.com