Stripe Linked Financial Accounts - Merchant User Terms of Service — United Kingdom (Private Beta Terms)

These Stripe Linked Financial Account Terms (“Terms”) apply to the use of the Stripe Linked Financial Account Services (“Service” as defined below).

These Terms are a legal agreement between Stripe Payments UK Limited. (“Stripe,” “we,” or “us”) and you. We are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Firm Reference Number: 900461) with permission to issue electronic money and provide payment services. In respect of these Terms, we are providing account information services under the Payment Services Regulations 2017.

1. Relationship to Stripe Services Agreement

When you use Stripe Linked Financial Accounts, you expressly agree to the terms and conditions of these Terms, the Stripe Services Agreement, and any updates or modifications Stripe makes to either of the foregoing from time to time. These Terms supplement the Stripe Services Agreement, which generally governs your use of Stripe Services, and is incorporated into these Terms by reference. If there is a conflict between the Stripe Services Agreement and these Terms related to Stripe Linked Financial Accounts, these Terms will prevail. Any capitalized terms that are used but not defined in these Terms have the meanings given to them in the Services Agreement. References to “Stripe” in the incorporated provisions or definitions will be deemed to be references to us, and references to “user” in the incorporated provisions and definitions will be deemed to be references to you.

2. Definitions

“Account Information” means data and information related to your Payment Account;

“Data Sources” means data aggregators, financial institutions and other service providers that facilitate Stripe in providing the Service;

“Payment Account” means your payment account which is held by your Payment Account Provider and used for the execution of payment transactions;

“Payment Account Provider” means any bank, building society and other payment account provider;

“Service” means linking your Payment Account(s) to share your Account Information with Stripe and others that you authorise;

3. The Service

3.1 General: Financial data can be integral to enabling businesses to provide their customers with many different products and experiences. Stripe allows you to link your Payment Account(s) to Stripe to enable Stripe to copy Account Information from your Payment Account and use that Account Information as set out in Section 3.6 of these Terms.

3.2 Your Consent: You provide us with your explicit consent to:

  • 3.2.1 retrieve your Account Information held by your Payment Account Provider;
  • 3.2.2 transfer your Account Information to authorised third parties you have instructed us to share Account Information with, who will use that information in accordance with the terms agreed between you and that authorised third party;
  • 3.2.3 provide that Account Information to you, and share it with any authorised third parties you have selected and instructed us to share Account Information with.

Once connected to your Payment Account(s), Stripe and our Data Sources will periodically access, retrieve, store and process your Account Information, including the following types of data from your linked Payment Account(s):

  • Information about the account owner, including contact information (like your name and address),
  • Account balances, including current and pending balances,
  • Account details, including your account type and bank, and account and routing numbers, and
  • Account transactions, including balance, transaction date, payee, location, transaction description, and amount.

3.3 Your Use of the Services. In order for you to use the Service in respect of any Payment Account:

  • 3.3.1 the Payment Account must be an online account and the relevant Payment Account Provider must have provided a dedicated interface to us in compliance with its regulatory obligations which is operational at the time of the requested use. We accept no responsibility for any non-availability of the interface which is attributable to acts or omissions of the relevant Payment Account Provider;
  • 3.3.2 either: we will open an online communication channel between you and the authentication domain of the Payment Account Provider for the Payment Account and at that stage you will need to provide your personalised security credentials to the Payment Account Provider in order to authenticate the relevant access. You will also be required to complete any further steps required by the Payment Account Provider in order to complete authentication; or you must supply us with the personalised security credentials that you would use when accessing your account directly with your Payment Account Provider. We will look after these credentials using reasonable care and skill and in accordance with our regulatory obligations; and
  • 3.3.3 you represent, warrant and undertake to us that you are the lawful holder of the relevant Payment Account and have full right and power to grant access to the relevant Payment Account and procure that we carry out the requested Service on your behalf.

3.4 Payment Account Authentication. You will be asked to consent to or renew Stripe’s access to your Payment Account(s):

  • at least every 90 days; and
  • every time you wish to access and/or share Account Information other than your account balance or transaction data relating to transactions occurring in the last 90 day period you authorized.

3.5 Your Instructions: In order to use the Service, you must instruct us:

  • 3.5.1. of the Payment Account(s) (name, account number and sort code) in respect of which the Service requested should be provided;
  • 3.5.2 of the Account Information which is required to be obtained from the relevant Payment Account(s);
  • 3.5.3 to provide the Service by reference to, and in reliance on, the above information; and
  • 3.5.4 as to the transfer of such Account Information.

3.6 Stripe’s Role. Stripe may obtain and use your Account Information for Stripe’s purposes, consistent with these Terms, Stripe’s Services Agreement and Privacy Policy. Stripe may use your Account Information to:

  • Verify your identity and/or bank account,
  • Facilitate the processing of your requested payments,
  • Mitigate fraud, financial loss, or other harm to you and Stripe,
  • Assess your eligibility for and offer you other Stripe products or services,
  • Analyze, develop, and improve this Service and Stripe’s other products and services,
  • Provide you customer support, including to help respond to your inquiries,
  • To maintain legal and regulatory compliance, and to enforce compliance with our Terms, and
  • For other purposes consistent with your consent and applicable law.

You understand and acknowledge that the Account Information obtained via the Service does not represent an official record of your Payment Account. You will not authorize the Service by macro or other automated means. Stripe is not acting on behalf of any Data Source in providing its application or services. We accept no responsibility for any inaccuracy, omission or deficiency in any Account Information supplied to us by a Payment Account Provider for onward transmission under the Service.

If we consider that the conditions set out in these Terms are not satisfied, or if it would be unlawful to provide you with the Service, we may refuse to do so at our sole discretion.

4. Privacy and Data Protection

We will use your personal data in accordance with these terms and Stripe’s Privacy Policy. If you want to unlink your account, you may do so here.

Stripe and/or our Data Sources may also obtain your financial institution login credentials, depending on the type of connection that Stripe has with your financial institution. Learn more.

If you believe that your Payment Account has been used for an unauthorized transaction or you have concerns about your Account Information, please contact your Payment Account Provider. If you have concerns about your Account Information held by Stripe, please contact Stripe.

5. Selected Third Party Payment Account(s)

You agree that when Stripe and/or Stripe’s Data Sources accesses and retrieves your Account Information from your linked Payment Account(s), Stripe and/or Stripe’s Data Sources are not the agent of the Payment Account Provider. You agree that Payment Account Providers will be entitled to rely on your authorization to Stripe and/or Stripe’s Data Sources to access your Account Information. You also acknowledge that the Service is not endorsed or sponsored by the Payment Account Provider. You agree that Stripe is not responsible for the accuracy of Account Information provided by your Payment Account Provider.

6. Representations and Warranties

By using this Service you represent and warrant that you: (a) are at least the age of majority in the jurisdiction in which you are located; (b) will not use this Service for any fraudulent, unlawful, abusive or unauthorized purpose; (c) have the lawful right to authorize us and our third party Data Source to access your or your company’s Payment Account(s), and to use your financial data in the manner described in these Terms and our Privacy Policy; (d) will not access or attempt to access any other person’s account or provide another person’s information to us without proper authority to do so; (e) will not copy, modify or create derivative works based on this Service; (f) will not modify, reverse engineer or attempt to gain unauthorized access to this Service or any associated source code or other systems associated with this Service; or (g) have not been terminated or suspended from using any other Stripe service in the past.

7. Disclaimers

The Service (including all content, software, functions, materials, and information made available on, provided in connection with, or accessible through the service), is provided “as is” and “as available.” Stripe and its affiliates and their respective employees, agents, and Data Sources (collectively, “Stripe Entities”) make no representation, warranty, or guarantee, whether express, implied or statutory, for the service or the content, data, information and functions made accessible by this Service, including the timing of delivery of funds (whether or not the timing was in Stripe’s control), or for any breach of security associated with the transmission of sensitive information through the Service. Each Stripe Entity disclaims any representation, warranty, or guarantee with respect to the service, including warranties of noninfringement, merchantability, or fitness for a particular purpose. The Stripe Entities do not warrant that the Service will be uninterrupted or error free. The Stripe Entities will not be responsible for any service interruptions, system failures or other interruptions that may affect the receipt, processing, completion or settlement of payment transactions. You agree that you are using the Service at your own discretion and at your own risk, and you are solely responsible for any damage to, or loss of information from, your computer or mobile device including damage or loss that results from the download of any data. No advice or information, whether oral or written, obtained by you from Stripe through or from the service will create any representation, warranty, or guarantee not expressly stated in these Terms.

8. Limitation of Liability

To the fullest extent allowed by Law, in no event will a Stripe Entity be liable for lost profits or any direct, indirect, special, exemplary, incidental or consequential, punitive, or tort damages or other intangible losses (including without limitation damages for loss of reputation, loss of data or loss of business), even if advised of the possibility of the damage or loss, arising out of or in connection with (a) your access to or use of the Services, (b) the unavailability or inability to use the Services or (c) purchase of third-party products or services based on or through the use of the Services.

You agree to limit any additional liability not disclaimed or denied by the Stripe Entities under these Terms to your direct and documented damages; and further agree that under no circumstances will any liability exceed in the aggregate the amount of fees paid by you to Stripe during the three-month period immediately preceding the event that gave rise to your claim for damages.

You and Stripe each agree that the other has relied on the limitations of liability and disclaimer of warranty stated above in entering into these Terms, and that those limitations are essential to the agreement between you and Stripe. The Laws of some countries and states place restrictions on our ability to disclaim or limit our liability. In those cases, this section will apply to the maximum extent allowed by Law.

9. Termination, Suspension or Revocation of Access

At any time, Stripe may terminate these Terms and suspend or revoke your access to the Service with or without notice and for any or no reason, including in the event of a suspected, attempted or confirmed breach of your obligations pursuant to these Terms. You may terminate these Terms by unlinking your account here.

10. Governing Law, Disputes

The provisions of the applicable Stripe Services Agreement governing applicable law (jurisdiction), location of suits and disputes (venue), and any method for dispute resolution are incorporated into this Agreement by reference.

11. Beta Services Terms

11.1 Beta Services. Stripe may indicate that the Stripe Linked Financial Account, with regard to a particular release or feature, or as offered in certain countries or regions, are classified by Stripe as “beta”, “pilot”, “limited availability”, “invite only”, or “pre release” (“Beta,” and the Beta portion of the Stripe Linked Financial Account, “Beta Services”). You understand that Beta Services are still in development, may have bugs or errors, may be feature incomplete, and may be subject to material change. You further understand that the Beta Services may be generally available in some countries while still classified as Beta in others. Despite any other provision of these Terms to the contrary, you understand and agree that your use of or reliance on the Beta Services is subject to the Beta classification, which will continue in force until Stripe removes the classification.

11.2 Modification to Beta Functionality. Beta Updates: Stripe has no obligation whatsoever to provide any bug fixes, error corrections, patches, or service packs for, or any revisions, successors, or updated versions to, the Beta Services, or any part of them, while the Beta classification is in place (all of the foregoing, if made available by Stripe, “Beta Updates”). However, if Stripe provides or makes available any Beta Update, you must fully implement the Beta Update within the time period specified by Stripe or 30 days after Stripe makes the Beta Update available, whichever is sooner.

11.3 Availability and Updates During Beta Period. Stripe may make updates, changes, repairs, or conduct maintenance at any time, and with or without notice, which may result in changes in the availability or quality of the Beta Services. In addition, Stripe may suspend your access to the Beta Services with or without notice, including if Stripe reasonably believes that (a) suspending the Beta Services is required by applicable Law; (b) continuing to provide the Beta Services would place Stripe in breach of any obligation Stripe owes to a third party; or (c) Stripe determines that continuing to provide the Beta Services would give rise to an unacceptable security or privacy risk. Stripe may also terminate your access to the Beta Services if Stripe, in its sole discretion, stops offering the Beta Services completely or in your jurisdiction.

11.4 Fees. Stripe may, at its discretion, provide Beta Services free of charge. Stripe may charge Fees for your use of the Stripe Linked Financial Accounts at any time (a) upon 30 days’ advance notice to you; or (b) after removing the Beta designation.