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Terms and Conditions

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1. Welcome to www.naconservices.com

What's on this site belongs to us and we are not responsible for you. The continued use of our Services constitutes your agreement to the Terms of Service ("Terms") detailed below. Such Terms shall be effective immediately. Such Terms may be modified on this page at any time at the sole discretion of NaCon without prior notice to the visitors and users (collectively, "Users") of www.naconservices.com or its app. Users should frequently visit this page and make themselves aware of any changes to these Terms which incorporate NaCon’s policy.

 

1.1. General Information:

NaCon Services Limited herein referred to as “NaCon” is a company registered in England and Wales with the registered company number and its registered address . NaCon is an authorised agent of Blackthorn Finance Limited which is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment and account services.

 

For your own benefit and protection, you should read these terms carefully before commencing to use any of our services. If you do not understand any point contained within this Agreement, please ask for further information before signing it.

 

If one or more of these provisions is or are invalid, then a provision shall apply which resembles such a provision as much as possible and which is valid. The other provisions of these General Terms and Conditions shall not be affected. 

 

2. Definitions:

The following words and phrases shall have the following meaning, or the context otherwise requires words and phrases defined in the rules of the Financial Conduct Authority of the United Kingdom (“FCA”), shall have the same meanings when used in this Agreement.

  1. Agreement: ‘this agreement’, ‘the agreement’, or ‘your agreement’, means all the terms and conditions that apply to your account and any other Services you have with us. These form the basis of the agreement between you and us. The agreement applies to everyone named on the account, together and individually, and to us, NaCon Services.

  2. Application: A mobile application for Account management, installed, and used on mobile devices.

  3. Website/Site: means the domain, and all subdomains, of www.naconservices.com

  4. Username: The login name you have chosen to log in to our Platform on our Website and/or app.

  5. Payment Account: The payment account you have from and/or with us

  6. Visitor: means a person who is only visiting the Site, not a User.

  7. PEP: means Politically Exposed Person

  8. General Terms and Conditions: These General Terms and Conditions, which include the payment and account terms and the conditions for the client / business relationship, as amended, adjusted, or supplemented from time to time.

 

3. Agreement:

 

This agreement will always be available in the app and on our website. We can make changes to it for any reason. If we make changes to it, then we'll tell you once we've made them, you can let us know and we'll close your account. Continuous use however means you agree. We'll transfer any money in the account to another account of yours. If we don't hear from you, we’ll assume that you’re happy with the changes we’ve made. Using the App and Website, you undertake not to adapt, modify, copy, reproduce, reverse engineer, publish, redistribute, sell, sub-license, exploit, or otherwise part with or make any other use of the app or the website, the intellectual property in the app or website, any data on the app or website, or the concept of the app or website more generally except for internal business purposes or to the extent required by law, nor to authorise, enable or assist any third party in doing so.

 

4. Services

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We may provide services as may be agreed

  1. Personal and/or Business Account

  2. Payments

  3. We are authorised by you to take any action we consider reasonably necessary or appropriate either to provide the Services (including but not limited to acting as your introducer and delegating our authority as your introducer to another) or to comply with any applicable laws or regulations as may reasonably be appropriate. You agree to ratify and confirm everything lawfully done in the exercise of such discretion.

  4. We will treat you as our Client and we have no obligation and accept no liability to any other person for whom you may be acting as an introducer, intermediary or fiduciary (whether or not the existence or identity of such person has been disclosed to us) and your obligations to us shall not be diminished in any way by reason of your so acting.

  5. We will not be obliged to carry out any transaction nor do anything else which we believe would breach any statute, law or regulation.

  6. If your Account comprises more than one account with us, we will have the right, without prejudice to any other right we may have, to combine all or any such accounts and set off any amount at any time owing from you to us or any Associate on any account against any amount owing by us or any Associate of ours to you for any purpose.

  7. We may, at our discretion, at any time convert any sums of money held in a currency other than the currency of the relevant Obligation into the currency of the Obligation at our current exchange rates (or other reasonable rate) and the proceeds of such conversion will be automatically applied in reduction of the Obligation.

 

5. Use of Account

 

5.1. Your Account allows you to deposit, transfer, keep funds in the Account for transfers, local and international money transfers executions, contribution payments, and also to receive money into the Account, settle for goods and Services, and perform other operations directly related to money transfers.

 

5.2. You are not allowed to have a negative balance on your Account. If this occurs, you must immediately correct this. We may apply a charge on the negative balance on your Account.

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5.3. You are obliged to notify NaCon as soon as you notice that funds are credited to your account in error, and to return the funds no later than one Business Day after noticing. You shall not have any rights to dispose of funds that have been credited to your account in error.

 

5.4. You agree that NaCon, when providing Services, may use the Services of third parties (including but not limited to, banks, electronic money institutions, payment institutions and other financial institutions). NaCon is permitted to select third parties for the provision of Services without prior agreement with you.

 

5.5. In the event of the death of a Client (where a client is a natural person), the Account will be closed, and the funds held in the account will be transferred to the account indicated by the successor. The actions indicated in this Clause will be implemented following the procedure provided under the applicable laws.

 

5.6. NaCon reserves the right to refuse to open an account and/or to close an account at its sole discretion.

 

 

6. Information Data Storage and Processing Consent

 

6.1. You must provide any information we ask for and any information we need to perform our Services and to comply with all laws and regulations.

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6.2. If it is necessary to verify the information, you will cooperate with such request.

 

6.3. We may also need information about your Representatives. They must provide us with the requested information and give us the opportunity to verify this information.

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6.4. You must ensure that all information you provide to us is correct, complete and up to date. We may rely on the information provided by you.

 

6.5. We are not obliged to verify the information or authority provided to us in terms of their accuracy. Nor are we obliged to check this information against current developments, during the provision of our Services.

 

6.6. You must keep us informed of any changes to your situation, personal details or any other important changes that are relevant to us – for example, if you change for instance but not limited to your name, nationality, country of residence and or correspondence address, email, phone number .

 

6.7. We collect information with our partner Blackthorn, which is needed to verify your identity. The information we collect is: proof of identity (photo of passport, ID, and/or driver's license) and the information contained on them (name, address, birth date), proof of address (photo of utility bill or bank statement), a selfie, occupation sector, income band, source of income & the purpose for opening an account with us. With our banking partners we will share your: name, address, birth date, country of residence and customer score. We may also share a review regarding politically exposed and/or high-risk individuals from our KYC/sanctions data provider at the time.

 

We will also be providing Blackthorn Finance Limited with transaction data from users, e.g. transaction amounts, recipients, target account numbers, etc. If you are not happy for us to use your information, we’ll have to close your account. But we may keep your personal data and use it where we have lawful grounds to do so.

 

For more details regarding our use of your information please take a look at our Privacy Policy

 

7. If Something Goes Wrong 

 

Please keep your phone, card and PIN safe at all times. If we discover any security issues affecting your account, we’ll contact you as soon as possible in the most secure way. If you lose your card or it is stolen or you see transactions in the app that look wrong, freeze your card if you are able and tell us as soon as possible. You should make yourself aware of Blackthorn Finance Limited’s policies about refunding your money in the “Blackthorn Finance Limited Individual Terms & Conditions” here: https://blackthorn.finance/T&C_Individual_08.21.pdf.

 

We are the first point of contact for any initial complaints (before you are directed to Blackthorn Finance Limited). We shall have no obligation or responsibility for the operation and provision (or lack of operation or provision) of services in connection with your account.

 

8. Closing Your Account​

 

You can cancel your account within the first 14 days of opening it or close it at any other time. If you’d like to close your account, please get in touch with us. We will return any outstanding funds to us before we can close your account. Once we've closed it, your card won't work, and you won't be able to access your account. NaCon can close your account by giving you a minimum of one months' notice.

We may close your account or stop you using your card and app immediately if we believe you have

  1. violated the terms of this agreement,

  2.  put us in a position where we might break the law,

  3. broken the law or attempted to break the law,

  4. given us false information at any time,

  5. had a change in circumstances which means you’re no longer eligible for a current account (personal or business) (like moving abroad),

  6. given a third-party control of your account, phone, card, or PIN (unless you’ve formally agreed to this with us or are legally permitted to do this),

  7. been abusive to anyone at NaCon or a member of our community.

 

9. Where Is Your Money 

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NaCon Services brings you the app and/or the website which enable you to access your money and/or account. We do not hold your money or provide a card for you to spend your money with. We are authorised agents of Blackthorn Finance Limited, ("Blackthorn Finance Limited") who provide an e-money account where your funds are held (your account).

 

Your agreement with them is listed here: Blackthorn Finance Limited Terms (https://www.blackthornfs.com/). 

 

The funds in your account will not earn any interest. We will have no liability or responsibility for your money or any failure by Blackthorn Finance Limited to provide services to you, unless that failure is due to a breach by us of these terms and conditions. We do not provide any financial services to you that are regulated in the UK, including for the avoidance of doubt, any regulated payments, e-money, banking services or arrangements with a view to transactions in investments.

 

This card is issued by Blackthorn Finance Limited Limited, pursuant to licence to Mastercard International Incorporated. Blackthorn Finance Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (FRN 927408) for the provision of payment services.

 

 

 

10. Our Responsibility For Loss Or Damage Suffered By You  

 

To the fullest extent permissible by law, we exclude and disclaim all warranties, terms, conditions and representations that might otherwise be implied by law in relation to our app and/or website. In particular, we do not represent or warrant that the app and/or website will be error-free, free of viruses or other harmful components, or that defects will be corrected. You must take your own precautions in this respect. In any event, we will not be liable for any loss or damage caused by an attack from hackers or other malicious third parties (on the user, account, the app, website or the overall system), a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our app and website. We do not accept liability for any failure to maintain the app and website. We do not accept any liability for the following types of loss, even if the loss is foreseeable: loss of income or revenue, loss of business, loss of profits, loss of anticipated savings, loss of data or waste of management of office time. The app and/or website may contain inaccuracies and typographical errors. We do not warrant the accuracy or completeness of the website or app. We shall not be liable for any loss caused as a result of your actions or inactions based on the app and/or website. However, nothing in these terms and conditions shall affect your statutory rights, and nothing in these terms and conditions shall exclude our liability for death or personal injury arising through negligence, for fraud or fraudulent misrepresentation and/or anything else that cannot be excluded or limited by us under English law.

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11. Force Majeure

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Whilst we will endeavour to comply with our obligations in a timely manner, we will incur no liability whatsoever for any partial or non- performance of our obligations by reason of any cause beyond our reasonable control including but not limited to any communications,

 

systems or computer failure, market default, suspension, failure or closure, or the imposition or change (including a change of interpretation) of any law or governmental or regulatory requirement and we shall not be held liable for any loss you may incur as a result thereof.

 

 

12. Complaints

 

If you have a complaint, please contact us at info@naconservices.com and we'll do our best to fix the problem

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