Capital on Tap Instant Savings Account Terms and Conditions, Powered by ClearBank

About these terms and conditions

These Savings Account terms and conditions (the “Terms and Conditions”) are between you and New Wave Capital Limited (trading as Capital on Tap). They are a legal contract between us. They also contain important information.

You should not treat any part of this document or the contents of the Capital on Tap website or mobile app as constituting advice to you on taxation, legal, financial or any other matters and you should consult your own professional advisers accordingly.

For your own protection you should read the Terms and Conditions carefully before accepting them. If you do not understand anything, please contact us to ask for further information.

If you need additional information or an explanation of any of the terms of these Terms and Conditions, please contact us by phone on 020 8962 7401, by live chat support at www.capitalontap.com, or by email at contact@capitalontap.com.

About us

Within these Terms and Conditions references to “us” and “we” are to New Wave Capital Limited (trading as Capital on Tap). Capital on Tap is a private limited company incorporated in England and Wales under registered number 07959823 which has its registered office at 27 Old Gloucester Street, London, England, WC1N 3AX.

Capital on Tap is authorised and regulated by the Financial Conduct Authority (“FCA”) (firm reference number 625592 in respect of consumer credit activities) and is authorised by the FCA under the Electronic Money Regulations 2011, firm reference 900922, for the issuing of electronic money. Capital on Tap is a registered trademark of New Wave Capital Limited with the United Kingdom Intellectual Property Office.

About ClearBank

ClearBank Limited (“ClearBank”) is a private limited company incorporated in England and Wales under registered number 09736376 which has its registered office at Borough Yards, 13 Dirty Lane, London, SE1 9PA.

ClearBank is authorised by the Prudential Regulation Authority (“PRA”) and regulated by the FCA and the PRA, firm reference 0754568.

About you

Within these Terms and Conditions references to "Customer", "you" and "your" means your business that is a customer of Capital on Tap and is operating a Savings Account with us.

About the Savings Account

When you put money into your savings account with Capital on Tap, it is deposited with ClearBank. You will earn interest on the funds you deposit based upon the time that they are deposited and the interest rate applicable to such deposited funds. Capital on Tap will enable you to use your account through your Online Portal.

As part of using the Savings Account you will also need to agree to the ClearBank Terms and Conditions for the Savings Account (the “ClearBank Terms and Conditions”).

Definitions 

In these Terms and Conditions, unless the context otherwise requires, the following terms have the following meanings:

1. These Terms and Conditions

1.1. The Savings Account will be provided by ClearBank subject to the ClearBank Terms and Conditions, and we will enable ClearBank to provide the Savings Account by providing the day to-day servicing of the Savings Account for you through your Online Portal. 

1.2. Your rights and obligations relating to the use of your Savings Account via the Online Portal are as set out in these Terms and Conditions between you and us. 

1.3. These Terms and Conditions come into force when you confirm your agreement to the terms. It is open-ended and has no fixed duration. It will continue until you or we end these Terms and Conditions, or until ClearBank closes your Savings Account under the ClearBank Terms and Conditions. 

1.4. As you are entering into these Terms and Conditions electronically, please ensure you have read these Terms and Conditions prior to accepting these Terms and Conditions. Once you have clicked on the applicable button indicating your acceptance of these Terms and Conditions this will have the same effect as if you had signed this agreement. You can request that we send you, by email, an electronic copy of these Terms and Conditions at any time whilst these Terms and Conditions are in place. 

1.5. The terms of these Terms and Conditions apply in addition to your Revolving Credit Facility Agreement and your E-Money Facility Agreement (as applicable). If there is any inconsistency with respect to your Savings Account, the terms of these Terms and Conditions will take precedence. 

2. Eligibility 

2.1. To open a Savings Account, you must accept these Terms and Conditions and the ClearBank Terms and Conditions. You also represent and warrant that: 

1. you are a business operating in the UK and your business meets our eligibility criteria; 

2. you have the requisite power, authority and capacity to enter into and comply with these Terms and Conditions; and

3. your business has and will be operated in a way that is compliant with all relevant legislation, regulations, codes of conduct or regulatory guidance or directions. 

2.2. You give us permission to obtain, verify, and record information that identifies and authenticates you including your directors, ultimate beneficial owners and partners (as appropriate) and your funding sources. We will need to identify and verify any new directors or replacement directors, ultimate beneficial owners and partners, prior to such change taking place and it is not guaranteed that any such change will be approved by us. If the information reasonably requested is not granted, or such a change is not approved by us, we will consider this a serious breach of these Terms and Conditions and may suspend or terminate your Savings Account accordingly. 

2.3. We may verify the information you provide to us or we obtain ourselves on you, your directors, ultimate beneficial owners, and partners (as appropriate), by carrying out a soft credit check from one or more credit reference agencies (including Experian, Equifax and TransUnion). Soft credit checks with credit reference agencies will leave a soft footprint on the relevant individual’s/ business’ credit history but will not affect their credit score. By entering into these Terms and Conditions, you confirm that you and all of your directors, ultimate beneficial owners, and partners, consent to such a search being performed. In addition, we or a third party on our behalf, may perform periodic (no more than once per month) soft credit checks on you for the purpose of deciding whether or not to allow you to have a Savings Account. This will not affect your credit rating. By entering into these Terms and Conditions, you confirm that you consent to such searches being carried out for this purpose. We reserve the right to close, suspend, or limit access to your Savings Account in the event we are unable to obtain or verify such information. 

2.4. We will not be liable for any losses, damages or costs arising from our conduct of the checks detailed in Clause 2.2 and Clause 2.3. 

2.5. You may be subject to further client verification and on-boarding checks by ClearBank, in accordance with the ClearBank Terms and Conditions.

2.6. If you will no longer be a business operating in the UK, you must inform us promptly prior to your move away, as there may be certain restrictions placed on your Savings Account and our ability to continue with any related services to your Savings Account. 

2.7. You must hold a Nominated Account in place in order to have a fully functioning Savings Account. Your Nominated Account must be a UK pound sterling current account with a UK regulated bank which is held solely in your business name.

2.8. We only offer one Savings Account per business. You may not share your Savings Account between several businesses.

2.9. You must not use your Savings Account for any unlawful purpose including, but not limited to, any activity which is prohibited by any law of regulation in the UK or in any other jurisdiction.

3. Accessing your Savings Account 

3.1. You may access your Savings Account via your Online Portal. We may also use the Online Portal to send you certain information. 

3.2. When you open your Savings Account, a copy of your Terms and Conditions will be stored in your Online Portal.

3.3. We will take all reasonable steps to ensure your Savings Account can be viewed via the Online Portal or mobile app at any time. There will be times when we need to interrupt our online service to perform maintenance. We will try to give you notice before we do this, although we might not be able to do so in certain circumstances. 

3.4. Any instructions to change details on your Savings Account may be made by you. It is important that you maintain the email address we have for you to ensure that any important communications or alerts are received. You should also make sure that your email settings are set up to receive emails from us.

3.5. You must tell us immediately if you do not recognise any transaction within your Savings Account.

4. Payments into your Savings Account 

4.1. We will only allow payments from you into your Savings Account originating from the Nominated Account via electronic payment. All payments in must be in pound sterling. 

4.2.  We cannot accept any cash or cheque payments into your Savings Account.

4.3. Where we have received an electronic payment, in most cases the money will be credited to your account on the same day. However, it may take up to three working days for the money to be credited to your account depending on the payment scheme through which your funds are deposited. 

4.4. We reserve the right to set a maximum balance on your Savings Account which we will communicate to you.

5. Withdrawals from your Savings Account  

5.1. Withdrawals can only be authorised via the Online Portal or the mobile app. 

5.2. All Withdrawals must be authorised by you or, where available, by a duly authorised person acting on your behalf. If a duly authorised person is able to authorise withdrawals on your behalf, please refer to our Authorised User Terms and Conditions. 

5.3. All Withdrawals can only be made:

1. to your Nominated Account: 

2. if we make it available to you, to pay some or all of your outstanding balance on your Capital on Tap credit card account; and

3. if we make it available to you, to preload your Capital on Tap credit card account in accordance with your E-Money Facility Agreement (if applicable). 

5.4. Future product features may include:

1. making one-off payments to third parties; 

2. receiving payments into the Savings Account from third parties;

3. scheduling automatic recurring payments to third parties, such as direct debits and standing orders; and 

4. making intentional payments.

5.5 Payments to your Capital on Tap credit card account may be made through automatic daily (or such other frequency) sweeps that you have authorised, through individual transactions or to preload your Capital on Tap credit card account (under your E Money Facility Agreement, if applicable).

5.6. The value of all Withdrawals must not be less than £1 unless you wish to close your Savings Account.

5.7. You may be asked to produce confirmation of your identity before any Withdrawal is carried out and a Withdrawal will not be carried out by us until this has been provided to us.

5.8. Withdrawals from your Savings Account can only be made by Faster Payments. Upon processing, we will debit your Savings Account with the amount you have instructed us to pay.

5.9. Payments out of your Savings Account are instant and we cannot stop a payment you have asked us to make once it has been processed.

5.10. You will not be able to submit a Withdrawal request if you do not have enough money in your Savings Account to make the payment.

5.11. You must retain a minimum balance of £1 unless you wish to close your Savings Account.

5.12. We reserve the right to set limits on Withdrawals for security purposes.

6. Interest Rate and payments 

6.1. Interest is calculated each day and paid monthly into your Savings Account. Your Online Portal and statement will show the date when interest is paid and the amount of interest paid.

6.2. The interest rate applicable to your Savings Account is variable and will track at a fixed margin below the base rate of the Bank of England (the Interest Rate). We reserve the right to vary the fixed margin depending on market conditions, including any changes to the Bank of England base rate.

6.3. The Bank of England base rate can be found here: https://www.bankofengland.co.uk. If the Bank of England changes its base rate, the resulting change will take effect without notice from the day after the Bank of England announces the change.

6.4. We may also increase the Interest Rate (which is to your advantage) for any reason and the resulting change will take effect without notice, but we will notify you of this within thirty (30) days of the change taking effect.

6.5. If we change the Interest Rate for any other reasons, we will give you fourteen (14) days' notice of any changes in advance.

6.6. If you do not want to accept any change in the Interest Rate we tell you about, you can close your Savings Account without charge any time before the change takes effect by notifying us that you do not accept the change, and we will take this as notification that you wish to close your Savings Account immediately. If you don't tell us that you want to end your Savings Account, then we will treat you as having accepted the change.

6.7. The current Interest Rate can be found in your Online Portal.

6.8. Interest is calculated on cleared balances and paid gross, without deduction of any tax. Payment of gross interest does not imply that the interest you receive is exempt from tax. It is your responsibility to advise the appropriate tax authorities of any interest received.

6.9. If, at any time, the Bank of England base rate is below zero, the base rate for the purpose of calculating the Interest Rate shall be deemed to be zero. 

7. Additional Savings Account features

7.1. We may in the future introduce additional features to your Savings Accounts. This may include the ability to make Withdrawals other than payments to your Nominated Account or to pay the balance on your Capital on Tap credit card account. 

8. Changes we can make to the Terms and Conditions

8.1. We may change any of the terms of these Terms and Conditions for any reason and at any time. This might happen when we need to reflect:  

1. Product Changes: changes in the products and services that we provide or how we provide these to you;
2. Regulatory Changes: changes in the legal or regulatory requirements that apply to us;
3. Cost of Service: changes in the costs of providing services to you;
4. New Products: the introduction of new products and services; and
5. Other Reasons: such other circumstances that may be necessary or desirable from time to time, in our sole and absolute discretion. 

8.2. We will give you thirty (30) days' notice of any changes in advance, unless a later date is provided for in the notice. 

8.3. If you do not want to accept any change we tell you about, you can close your Savings Account without charge any time before the change takes effect by notifying us that you do not accept the change, and we will take this as notification that you wish to close your Savings Account immediately. If you don't tell us that you want to end your Savings Account, then we will treat you as having accepted the change. 

9. Keeping Security Details secure 

9.1. You will need your username and password (your “Security Details”) to perform the following functions online:

1. accessing the Online Portal;

2. changing your registered details;

3. checking your Savings Account balance and payment transaction details; and

4. changing your password.

9.2. You are responsible for your Savings Account and your Security Details. Do not share your Savings Account or Security Details with anyone. We shall not be liable to you for any losses, damages or costs suffered as a result of you sharing your username or password with a third party.

9.3. You must take all reasonable steps to keep the Security Details safe and secure. For example:

1. do not store Security Details on a device which is not password protected;

2. never share your Security Details with anyone; and 

3. when entering your Security Details, take all reasonable steps to ensure it cannot be observed by others.

10. Giving us instructions 

10.1. You can give us instructions in a number of ways including by contacting us using one of the methods specified in Clause 21. If available, you can also give instructions through a third party
that has been authorised to act on your behalf. 

10.2.  Occasionally we will refuse to process your instruction if: 

1. we reasonably believe that you didn’t authorise the instruction; 

2. we reasonably suspect the instruction is fraudulent; 

3. it is necessary to reject your instruction to protect you or us from a crime;

4. your instructions are unclear or incomplete;

5. following your instruction would mean that we breach a law or regulation that we
   must comply with; or

6. the payment transaction is less than the minimum of £1.00, or following your
   instruction would mean your account goes below £1.00.

10.3. We will tell you if we refuse to process any of your instructions. If you'd like to find out what you can do to fix any problems, then please contact us.

11. Blocking an electronic payment 

11.1. Your Savings Account has the ability to send and receive Faster Payments, through the Faster Payments Scheme, operated by PayUK. The payment scheme payment limit of £1,000,000 per payment will apply to each deposit and withdrawal. Your Nominated Account bank will inform you if you try to make a deposit exceeding this limit. We will stop you if you try to make a withdrawal exceeding this limit. You may make several smaller withdrawals to achieve your desired deposit or withdrawal value. 

11.2.  We may refuse to carry out any transaction on your Savings Account in the following circumstances: 

1. our fraud prevention, financial crime or other legal and regulatory requirements prevent us from carrying out the payment or mean that we need to carry out further checks; 
2. we reasonably believe that you or someone else is using your Savings Account illegally or fraudulently; 
3. we believe that processing your payment instruction would break these Terms and Conditions or your instruction doesn't contain all the information we need to properly process the payment; 
4. the relationship between you and us has irretrievably broken down (for example you have been threatening or abusive to our colleagues); 
5. you have broken these Terms and Conditions in a way that we reasonably believe justifies us refusing or delaying your payment; 
6. any step, application or proceeding is taken by you or in respect of all or any part of your undertaking for a voluntary arrangement or composition or reconstruction of your debts, winding up, dissolution, administration or receivership (administrative or otherwise); 
7. we believe that the transaction is not for business purposes;
8. there is a dispute (which we reasonably believe to be genuine) about the ownership or entitlement to the money in the Savings Account; 
9. we need to ask you for further information to complete the payment and you do not provide it to us; 
10. there are insufficient cleared funds in the Savings Account to cover the amount of the payment; 
11. we have reasonably asked you for important information and you have not provided us with that information; 
12. we are not permitted by ClearBank to process the payment; (m) we need you to verify the validity of or clarify any payment instructions; (n) the terms of the Nominated Account prevent completion of an electronic payment; 
13. there are technical issues which prevent us from executing an electronic payment; and/or 
14. circumstances beyond our reasonable control prevent us from offering a normal service (such as a computer failure or industrial action). 

11.3. Where we are permitted under Applicable Law, we will tell you if we refuse to process a payment before carrying out measures to stop the payment, or where this is not possible, immediately after we deny the payment. If you'd like to find out what you can do to fix any problems, then please contact us. 

12. Confirmation of Payee

12.1. The bank or financial institution with which your Nominated Account is held may request verification that your full name matches the name linked to the account number and sort code of your Savings Account. 

12.2. If we make it available, you can opt out of Confirmation of Payee in exceptional circumstances. If you would like to opt out, please contact us using one of the methods specified in Clause 21. You will need to complete a request form for us to consider. The same form will be required if you wish to opt back into the service. 

13. Statements 

13.1. We will send you a statement by email after the end of each month. The statement will also be available in your Online Portal. This will list the activity in your Savings Account during the previous month, the outstanding balance, your current interest rate and your interest payments. You must notify us immediately if anything on your statement is incorrect. We may send you statements more often if we need to for legal or regulatory reasons. You can request that we send you, by email, an electronic copy of your statement at any time. 

14. Your account information and tax requirements

14.1. You give us your explicit consent to us accessing, processing, and retaining your personal information for the purposes of providing a Savings Account product under these Terms and Conditions to you. This does not affect any rights and obligations you or we have under data protection law. Our Privacy Policy is available at https://www.capitalontap.com/en/legal/privacy policy/ and explains how we collect, use, disclose, transfer and store your information. 

14.2. As outlined in our Privacy Policy, you agree that, at any time and in order to comply with Applicable Law, we may send your information to credit reference and or fraud prevention or similar agencies that help us and others make credit decisions, and which carry out identity, fraud prevention or credit control checks to help reduce the incidence of fraud or financial crime. We will be supplied with credit information as well as information from the electoral register. The agency will record the details of the search, irrespective of whether we accept your application. We may use automated credit scoring methods to assess your application and verify your identity. 

14.3. We will keep records of any information obtained to verify your identity for as long as we are prescribed to do so by the Money Laundering, Terrorist Financing and Transfer of Funds (information on the Payer) Regulations 2017 as amended, supplemented or replaced from time to time. 

14.4. You give us or ClearBank authority to disclose any information (when required by law or otherwise) in relation to your Savings Account to the following bodies: (a) HMRC or other UK government body; (b) any regulatory authority, for example the FCA; or the police; or (c) a regulated contractual third party. If we need to share information about you and your Savings Account with HMRC, they may pass this on to other tax authorities in other countries. You agree that we can give documents or information to HMRC for this purpose. 

14.5. If we ask you to give us personal information or documents so that we can decide if we need to share information with HMRC, you agree to do this within thirty (30) days of our request. You’ll need to let us know if any of this information changes after you give it to us. We won’t be responsible for any loss you may have if we disclose information about you in this way. 

14.6. In the event of a transfer pursuant to Clause 23.6, you acknowledge and agree that information relating to your Savings Account will be shared with the relevant transferee or appointee, to the extent necessary. 

15. Your responsibility to us

15.1. You will be legally bound by these Terms and Conditions so it is important on entering it, and on a continuing basis, you agree that you have and will maintain full legal capacity and all necessary authority, permissions and powers, and have taken all necessary action to enable you: 

1. to enter into these Terms and Conditions lawfully; 
2. give us orders and instructions; and 
3. to enter into any transactions in connection with these Terms and Conditions. 

15.2. You shall: 

1. co-operate with us in all matters relating to your Savings Account; 
2. provide us with such information and materials as we may reasonably require in order to operate your Savings Account and ensure that such information is true and accurate; 
3. regularly log on to your Online Portal to review your Savings Account as well as any communication or documentation that may be added from time to time and tell us as soon as possible of any disputed transaction; and 
4. notify us promptly of any changes to your circumstances or information you provided e.g. your residency or your contact details. 

15.3. In accepting these Terms and Conditions, you confirm there is no action, suit or proceeding, or pending or threatened action against you, before any court, tribunal, governmental body, agency or official, or any arbitrator that purports to affect or is likely to affect, the legality, validity or enforceability of these Terms and Conditions or your ability to perform your obligations under these Terms and Conditions. 

15.4. You acknowledge that any transaction dealt with by us on your instructions will be assessed by statutory and other requirements relating to money laundering and combating terrorist financing. 

15.5. We are legally obliged to keep your affairs confidential. However, we may be required by Applicable Law to make a disclosure to the National Crime Agency where we know or suspect that a transaction may involve money laundering or terrorist financing. If we make a disclosure in relation to this matter, we may not be able to tell you that a disclosure has been made. We may have to stop providing any services related to your Savings Account to you for a period of time and may not be able to tell you why. We shall not be liable in any way whatsoever for any loss or damage (including any costs, expenses or liabilities) of any kind incurred by you as a result of having to make such a disclosure or having to stop providing any services related to your Savings Account to you for such period of time. 

15.6. You are wholly responsible for the accuracy of any information that you provide to us and we shall not be liable in any way whatsoever should incorrect data received from you result in financial loss or damage (including any costs, expenses or liabilities) of any kind. You will notify us immediately if you discover that any information we hold for you is obsolete, incorrect, misleading, inconsistent and/or irrelevant in any way. 

15.7. If performance of any of our obligations under these Terms and Conditions is prevented or delayed by any act or omission by you or your failure to perform any relevant obligation under these Terms and Conditions (“Customer Default”), we shall (without limiting our other rights or remedies) have the right to suspend performance of any services related to your Savings Account until you remedy the Customer Default, and we may rely on the Customer Default to relieve performance of any of our obligations to the extent the Customer Default prevents or delays performance of any of our obligations. 

15.8. In the event of a Customer Default, we shall not be liable for any costs or losses sustained or incurred by you arising directly or indirectly from our failure or delay to perform any of our obligations as set out in Clause 15.7. 

15.9. You will indemnify us against any liability, cost, expense, loss or any damage incurred by us (including but not limited to professional advisors' fees) arising from your breach of these Terms and Conditions, negligence, wilful default or fraud or fraudulent misrepresentation. 

16. Closing your Savings Account 

16.1. You can close your Savings Account at any time, by contacting us at 020 8962 7401. If you close your Savings Account, you will need to withdraw all funds from the Savings Account prior to closing it. 

16.2. If you are closing your Savings Account within fourteen (14) days of opening it, and you have paid us any fees, we will refund those fees. 

16.3. We can close your Savings Account by writing to you. Unless we need to close your Savings Account immediately in accordance with Clause 16.4, we’ll give you at least one month’s written notice. 

16.4. We may close your Savings Account immediately for the reasons below: 

1. you are in breach of any material obligations under these Terms and Conditions, and you have failed to remedy the breach within a reasonable time of us requesting you to do so; 
2. you provided us with any false or misleading information, or you fail to inform us of any information you later become aware of which makes any previous information false or misleading; 
3. if you have acted illegally, fraudulently or misused your Savings Account; 
4. if you display threatening or abusive behaviour towards our staff; 
5. any step, application or proceeding is taken by you or in respect of all or any part of your undertaking for a voluntary arrangement or composition or reconstruction of your debts, winding up, dissolution, administration or receivership (administrative or otherwise); 
6. to the extent you have a credit facility with us under your Revolving Credit Facility Agreement, if we close your credit facility in accordance with the terms of such Revolving Credit Facility Agreement; 
7. if under the terms of a court order; or 
8. if you have done or failed to do something which means we are unable to comply with our legal and/or regulatory obligations. 

16.5. For the avoidance of doubt, we may close your Savings Account if you have a balance below £1. 16.6. If we close your Savings Account, the following will apply: 

1. unless prevented due to legal reasons, upon the closure of your Savings Account we will send any money in your Savings Account to your Nominated Account. Any interest which you may be due after closing your Savings Account will be sent by ClearBank to your Nominated Account; and 
2. these Savings Account Terms and Conditions will still apply until your Savings Account is closed. 

16.7. Notwithstanding Clause 16.6(a), we may retain the money in your Savings Account if you do not address any concerns we have about the origin of the money or another person claims that the money belongs to them. If this occurs, you will not be able to access the money and we will continue to hold the money until the issue is resolved. 

16.8. We will not be legally responsible for any remuneration, costs, charges, fees, expenses, taxes, or other amounts which become payable by closing your Savings Account. 

16.9. To the extent you have a credit facility with us under your Revolving Credit Facility Agreement, your credit facility or any amounts owing under such credit facility will not be affected by us or you closing your Savings Account. 

16.10. In the event ClearBank is no longer able to provide you with your Savings Account or terminates your Savings Account pursuant to the ClearBank Terms and Conditions, and unless prevented due to legal reasons, we will send any money in your Savings Account to your Nominated Account.

17. Liability 

17.1. No provision of these Savings Account Terms and Conditions will be deemed to restrict, qualify or exclude any duty owed to you under the Financial Services and Markets Act 2000 or the FCA’s rules that they do not allow to be excluded or restricted. Except and to the extent of any duties that we owe you in accordance with any statutory rights that we cannot lawfully exclude or restrict any liability therefor, we do not owe you any further duties except as expressly set out in these Savings Account Terms and Conditions. 

17.2. We will not be liable to you for any loss, damages or costs suffered or incurred by you except and only to the extent that such loss arises directly from our gross negligence, wilful default, or fraud. We will not be liable to you for any losses, damages or costs suffered or incurred by you: 

1. which could not have been reasonably anticipated by us when you gave us an instruction; 
2. in relation to any loss of business, loss of goodwill, loss of opportunity or loss of profit; or 
3. which are indirect or consequential. 

17.3. The above exclusions and limitations set out in this Clause will apply to any liability of our affiliates, suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with these Savings Account Terms and Conditions. 

17.4. Nothing in these Savings Account Terms and Conditions require you to compensate us to any extent prohibited by Applicable Law. 

17.5. Subject to Clause 17.2, we will not be liable for any loss or damage of any kind that is attributable to: 

1. our failure to take any action which, in our opinion, might breach an applicable FCA Rule or any other Applicable Law, or any action taken in order to comply with Applicable Law or the requirements of any market; 
2. any loss of interest (including, without limitation, those which may occur due to delays during the process of verifying your identity in compliance with money laundering regulations); 
3. any loss or corruption of data unless caused by our wilful default; 
4. any reasonable refusal or failure to accept and / or execute any instruction received by you; or 
5. our reasonable reliance on any information, instructions, notices or communications that we believe to be from you and/or a person authorised by you to give the same, including any person authorised to give instructions in respect of your Savings Account. 

17.6. From time to time, your ability to use your Savings account may be interrupted, e.g. when we carry out maintenance to improve and keep the service running for our customers. We will not be responsible for any loss arising from such interruptions. 

17.7. We will take reasonable care in the assessment and appointment of bankers, counterparties, agents and other third parties. Subject to the performance of that duty we will not be liable for any losses, damages or costs suffered or incurred by you that is attributable to the performance of any third party involved in the provision of your Savings Account. 

17.8. We will not be responsible for any liabilities arising because of any circumstance outside of our reasonable control. Such circumstances may include, but are not limited to, changes in Applicable Law, governmental, regulatory or judicial changes, currency restrictions, acts of God, civil unrest, war, terrorism, strikes, lock-outs, industrial disputes, breakdown in market systems or infrastructure (including of trading, clearing house, market participant or counterparty), failure, breakdown or disruption of electronic communications or other communications or computer service. 

18. Unauthorised Payments  

18.1. If you think a payment from your Savings Account was not authorised (for example, someone else made it), you must tell us as soon as possible by calling us at 0808 169 7401. 

18.2. Unless we have reasonable grounds to think the transaction was authorised by you, we will put your Savings Account back as if the transaction had not occurred by refunding the transaction amount and repaying interest or fees. We will refund that transaction amount to your Savings Account no later than the end of the following business day. You won’t have any further claims against us. 

18.3. We will investigate your claim for an unauthorised payment, provided that you have let us know immediately or at least within 13 months of the date on which the payment was first authorised. We have no legal obligation to investigate and / or refund any payment undertaken more than 13 months ago. 

18.4. For the avoidance of doubt, we will not refund your Savings Account where: 

1. we have reasonable grounds to suspect fraudulent behaviour, and are required to look further into your claim; or 
2. you have acted fraudulently or you have deliberately or with gross negligence done the following things:
   1. you didn’t keep your Security Details secure; or
   2. you didn’t tell us as soon as possible that you didn’t keep your Security Details secure, especially if you think someone else might have been able to find them. We won’t refund any payments made before you told us of the loss or the danger the Security Details had been compromised. 

19. No set-off

19.1. To the extent you have entered into a Revolving Credit Facility Agreement with us, under no circumstances may you set off any amounts which may be owed to you by ClearBank against any amounts which you may owe to us under your Revolving Credit Facility Agreement. 

20. Compensation

20.1.If you are eligible for FSCS protection, the funds held in your Savings Account may be covered by the FSCS, excluding any pending transactions. Compensation depends upon the type of business and the circumstances of the claim. The FSCS offers different levels of cover for different types of business. 

20.2. Where a company is eligible for FSCS coverage, this will be £85,000 per eligible company. This means that if you have other accounts held at ClearBank, including other Capital on Tap accounts in your name, the balances of these accounts may be amalgamated. Compensation may change from time to time, so you should always check the current FSCS compensation limit. Further information is available from the FSCS website at www.fscs.org.uk

21. Contacting each other

21.1. If you experience any difficulties in using your Savings Account, you should contact us using one of the methods specified in Clause 21.2. 

21.2. You can contact us by: 

1. writing to us at our address; 
2. using the live chat support available at www.capitalontap.com; 
3. emailing us at contact@capitalontap.com; or 
4. phoning us on 020 8962 7401.

21.3. We may contact you by emailing you, writing to you, phoning you or by sending you an SMS (text message) using the latest contact details you provided to us. Please make sure these details are correct and tell us if anything changes. 

21.4. Unless you contact us and tell us otherwise, we may send documents (including statements and notices) to you electronically on the Online Portal, which you will need a device (e.g. a computer or smartphone) to access. 

21.5. If we become aware of an actual or suspected fraud or a security threat affecting your Savings Account, we will contact you on the latest telephone number that we hold for you to inform you. If we cannot reach you by telephone, we will contact you by post at your last known address. 

21.6. Any email will be deemed received as soon as it is sent unless within 24 hours the sender receives a failure notice indicating that the email has not been transmitted. Any email will be deemed received by the recipient on the day it is received in his email inbox if received before 4.30 pm on a business day. If received at any other time, it will be deemed received on the next business day. 

21.7. Any communication or notice sent by post will be deemed received three (3) days from the date of posting for UK post or within five (5) days of posting for international post. Any communication or notice sent by text message will be deemed received the same day. 

22. Complaints 

22.1. If you have a complaint about our services, please contact us on contact@capitalontap.com or 020 8962 7401. For information on how we will handle your complaint, please contact us.

22.2 If any complaint you make is not resolved to your satisfaction then you may be able to refer your complaint to the Financial Ombudsman Service, Exchange Tower. Details about their service and how to refer a complaint to them can be found on their website at www.financial ombudsman.org.uk and you can write to them at Exchange Tower, Harbour Exchange Square, Isle of Dogs, London E14 9SR. 

22.3. You may also complain to the Financial Conduct Authority (the FCA) who can be contacted at their address, 12 Endeavour Square, London E20 1JN.

23. General Terms

23.1. The courts of England and Wales have exclusive jurisdiction to deal with any disputes between us. 

23.2 These Savings Account Terms and Conditions, and any discussions we have had with you about entering into it, and the operation of your Savings Account is governed by English law. All terms, correspondence and any communication from us will be in English. 

23.3 A person who is not a party to these Savings Account Terms and Conditions will not have any benefits under the Contracts (Rights of Third Parties) Act 1999 and will not have any rights to enforce its terms. These Savings Account Terms and Conditions also does not give you any rights against any third party. 

23.4. If we fail to insist that you perform any of your obligations, or if we do not enforce our rights against you, or if we delay in doing so, that does not mean that we have waived our rights or that you do not have to do those things. 

23.5. If it is found that any section within these Terms and Conditions is invalid, that invalid section will have no effect on the validity of the remaining sections in these Terms and Conditions. The remaining terms and conditions will continue to remain in place. 

23.6. We may transfer our rights and responsibilities under these Terms and Conditions (in whole or in part) to another person provided that this does not adversely affect your rights under these Terms and Conditions, and if this happens then any references to "we" or "us" will be references to that transferee. You may not transfer or assign your rights and/or responsibilities under these Terms and Conditions. 

23.7. You should be aware of the possibility that other taxes or costs may exist in addition to the sums referred to in these Terms and Conditions which are not a condition of these Terms and Conditions or imposed by us. 

23.8. These Terms and Conditions constitutes the entire agreement between you and us regarding your Savings Account. You acknowledge that you have not relied on any statement, promise, representation, assurance or warranty made or given by or on behalf of us which is not set out in these Terms and Conditions.