Terms & Conditions 📜

Last Update: 3 Feb 2025

THIS IS AN ELECTRONIC DOCUMENT AND IT DOES NOT REQUIRE A SIGNATURE. BY TICKING THE BOX DURING REGISTRATION ON THE APPLICATION FORM, YOU ARE ACKNOWLEDGING THAT YOU HAVE READ, AGREED TO AND ACCEPTED ALL OF THE TERMS AND CONDITIONS (“TERMS”) CONTAINED IN THIS DOCUMENT.

THESE TERMS GOVERN THE BUSINESS RELATIONSHIP BETWEEN KIXY LTD (“KIXY”) AND YOU (“CUSTOMER”). ACCESS TO AND USE OF KIXY SERVICES AND THE KIXY APP BY CUSTOMER IS SUBJECT TO COMPLIANCE WITH THESE TERMS, AS AMENDED FROM TIME TO TIME. KIXY IS INCORPORATE IN ENGLAND AND WALES (COMPANY NUMBER: 11201126), WITH ITS REGISTERED ADDRESS AT 40 GRACECHURCH STREET, LONDON, EC3V 0BT. KIXY IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY TO PROVIDE PAYMENT SERVICES UNDER THE PAYMENT SERVICES REGULATIONS 2017 WITH REGISTRATION NUMBER 814005.

IN ADDITION, YOU ARE REQUIRED TO ACCEPT THE TERMS AND CONDITIONS OF PAYRNET LIMITED, TRADING AS “RAILSR” (“RAILSR”), A COMPANY INCORPORATED IN ENGLAND AND WALES (COMPANY NUMBER: 14698459), WITH ITS REGISTERED ADDRESS AT 3RD FLOOR, VINTNERS’ PLACE, 68 UPPER THAMES STREET, LONDON, ENGLAND, EC4V 3BJ (“RAILSR TERMS”). RAILSR IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AS AN ELECTRONIC MONEY INSTITUTION UNDER REGISTRATION NUMBER 900594.

1

Definitions and Interpretation

  • KIXY, in its capacity as an agent of Railsr, can provide the following services:
    • Execution of payment transactions (not covered by a credit line);
    • Execution of payment transactions (covered by a credit line);
    • Issuing payment instruments or acquiring payment transactions;
    • Money remittance.
  • 1.2 “Account” or “E-money Account” means Customer's electronic money account that is opened by KIXY in the name of the Customer with Railsr, which holds electronic money used for execution or receipt of payment transactions initiated by Customer and confirmed by KIXY. The E-money Account is the basic/framework Service offered by KIXY. This definition includes virtual and physical debit cards issued to Customers at their request in accordance with the Railsr Terms.
  • 1.3 “Agreement” means an agreement that is concluded between the Customer and KIXY, which includes these Terms, the Application Form, the Fees Schedule, as well as any annex or amendment to these Terms. The term “Agreement” will also mean any order or instruction of Customer to KIXY, which is not related to any specific special agreement concluded in writing.
  • 1.4 “Application Form” means Customer’s expressed will to start using KIXY’s services, waive them or create amendments in them, formed in accordance with the Terms. KIXY reserves the right to request an Application Form submitted via KIXY’s website and/or the KIXY App to also be submitted in writing, without providing a reason.
  • 1.5 “Approved Currency” means any currency approved by KIXY from time to time for holding funds in Customer’s Account and/or E-Wallet.
  • 1.6 “Base Currency” is the reference currency - the first currency that appears in the Account and/or E-Wallet.
  • 1.7 “Business Day” means a day when KIXY is open for servicing of its Customers and is any week day, except UK bank holidays.
  • 1.8 “Business Relationship” means the legal relationship between KIXY and Customer during the time of provision of Services by KIXY and until such relationship is terminated in accordance with the provisions of these Terms or the Agreement.
  • 1.9 “Communication” means any instructions, orders, documents, logs, transactions and any other information intended to be addressed to a party by the other and is described under Relationship and Communications Section.
  • 1.10 “Confidential Information” means all information that may be imparted in confidence or be of a confidential nature relating to the business or prospective business, plans or internal affairs of KIXY.
  • 1.11 “Customer” means the Account-holder (natural person or legal entity), who already has established a Business Relationship with KIXY or who applies to establish one.
  • 1.12 “Deposit” means the crediting of funds to Customer’s Account by purchasing Electronic Money using one of available deposit options.
  • 1.13 “Electronic Money” or “E-Money” means Customer’s funds in the Account or electronically, including magnetically, stored monetary value, which is issued by KIXY on receipt of funds from Customer for the purpose of making payment transactions and which is accepted by Customer.
  • 1.14 “E-Wallet” means a sub-account opened in a Customer's Account.
  • 1.15 “Fees” means any and all fees and charges levied by KIXY for provision of Services, as stated in the Fees Schedule and which may be amended by KIXY from time to time.
  • 1.16 “Force Majeure” means abnormal and unforeseen circumstances beyond the control of KIXY and includes: (a) strikes, lock-outs or other industrial action; (b) civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; (c) fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; (d) impossibility of the use of public or private telecommunications networks; and (e) acts, decrees, legislation, regulations or restrictions of any government.
  • 1.17 “Fraudulent Transaction” means any Transaction or Payment Transaction that would constitute fraud in terms of common law (irrespective of whether processed or not). This includes automated or computer-generated applications, unauthorized use of card(s) or any activity resulting in a chargeback or false financial message(s).
  • 1.18 “Intellectual Property” means all or any trademarks (or applications), trade names, patents (or applications), know-how, copyright or designs belonging to KIXY.
  • 1.19 “KIXY” means Kixy Ltd, registered in the United Kingdom (company number 11201126) at 40 Gracechurch Street, London, England, EC3V 0BT. Authorised and regulated by the FCA (#814005). More info at https://www.kixy.com.
  • 1.20 “KIXY App” means the mobile application through which the Services and Accounts can be accessed by the Customer.
  • 1.21 “KIXY Logo” means the image(s) provided by KIXY depicting KIXY and the Service(s).
  • 1.22 “Login Authorisation Data” includes all authorisation/verification information provided by KIXY to Customer for identification and login, such as account numbers, password, login code and any verification messages.
  • 1.23 “Railsr” means PayrNet Limited, (Company Number: 14698459), registered at 3rd Floor, Vintners’ Place, 68 Upper Thames Street, London, England, EC4V 3BJ. Authorised and regulated by the FCA (Registration Number 900594).
  • 1.24 “Railsr Terms” means the Terms and Conditions of Railsr as amended from time to time.
  • 1.25 “Services” means any services offered by KIXY, including Account maintenance, issuance of E-Money, issuance of payment instruments and execution of payment transactions and any products available on the KIXY website/App.
  • 1.26 “Special Agreement” means an agreement concluded before any individual KIXY service is provided stipulating special conditions (the Application Form may serve as one).
  • 1.27 “Terms” means these terms and conditions and amendments related to Services, access to the KIXY App and any interface provided by KIXY.
  • 1.28 “Transaction” or “Payment Transaction” means an act, initiated by Customer of placing, transferring, receiving or withdrawing funds, irrespective of underlying obligations, less applicable Fees.
  • 1.29 Defined terms used in these Terms will have the same meaning in all other related documents, unless otherwise specified.
  • 1.30 References to persons include individuals, corporate bodies, unincorporated associations, partnerships and other entities. Words denoting a gender include all genders. Headings are for reference only.
  • 2.1 Customer acknowledges that:
  • 2.1.1 Neither Railsr nor KIXY is a credit institution and Customer's Account is not a bank account;
  • 2.1.2 Neither Railsr nor KIXY acts as trustee, fiduciary or escrow holder in respect of E-Money in Customer’s Account;
  • 2.1.3 KIXY does not pay interest on any balances in Customer's Account.
  • 2.2 KIXY provides access to the KIXY App to authorised Customers only and enables them to make and accept payments, purchase Electronic Money or request redemption of Electronic Money. KIXY is an independent service provider.
  • 2.3 Specific conditions may be published on the KIXY website and within the KIXY App (e.g. Privacy Policy). Customer undertakes to review these regularly.
  • 2.4 According to safeguarding requirements Railsr holds pooled balances separate from its corporate funds and will not use balances for its operating expenses or corporate purposes.
  • 3.1 KIXY provides its Services only to authorized Customers duly onboarded after due diligence.
  • 3.2 Onboarding requires acceptance of these Terms and any other specific conditions.
  • 3.3 KIXY may request information including identity documents and additional information needed under AML laws.
  • 3.4 KIXY is under no obligation to onboard any Customer and determines information scope and conditions.
  • 3.5 KIXY may request updated information; failure to provide may lead to termination.
  • 3.6 Failure to submit requested documents/information may result in suspension or further action.
  • 3.7 Customer must notify KIXY within five (5) Business Days of relevant changes.
  • 3.8 After onboarding, Customer will be provided with Login Authorisation Data. Customer must protect it.
  • 3.9 Customer may not tamper, hack or modify the KIXY App; suspected activity may lead to suspension.
  • 3.10 English is the language used for these Terms and communications.
  • 3.11 Communications may use various electronic means; Customer acknowledges risks (“Telecommunications Risks”).
  • 3.12 Customer releases KIXY from liability arising from Telecommunications Risks.
  • 3.13 KIXY may record communications and use them as evidence; availability is not guaranteed.
  • 3.14 Notices may be posted on the KIXY website, via email, SMS or Account message.
  • 3.15 Notice deemed received within 24 hours of posting/email, or 3 Business Days by mail.
  • 3.16 Customer may request copies of legally required information in durable form.
  • 3.17 Withdrawal of consent to electronic communications may lead to Account closure.
  • 3.18 Notices to KIXY: email cs@kixy.com or post to: 40 Gracechurch Street, London, EC3V 0BT.
  • 4.1 “Know Your Client” (KYC) is the process of verifying identity and assessing suitability and risks. KIXY implements KYC and AML requirements across processes.
  • 4.2 KIXY requires due diligence information to understand Customer activities and source of funds.
  • 4.3 Customer authorizes KIXY to make inquiries to verify identity (e.g. DOB, tax ID). Failure may result in suspension or closure.
  • 5.1 Login and authorisation:
  • 5.1.1 Customer accesses the Account via website/App with Login Authorisation Data; issues: contact cs@kixy.com.
  • 5.1.2 After verification, Customer may give Transaction instructions.
  • 5.1.3 Suspected compromise: Customer must immediately notify KIXY and request suspension.
  • 5.2 Exclusive rights:
  • 5.2.1 Customer keeps Login Authorisation Data confidential and is liable for misuse.
  • 5.2.2 Anyone using such data is deemed Customer; KIXY may request additional verification.
  • 5.2.3 Customer may request blockage; only Customer may revoke.
  • 6.1 Customer agrees to pay Fees (e.g. transfers, conversions, withdrawals, amendments, document prep).
  • 6.2 Customer must familiarise themself with Fees Schedule prior to Transactions.
  • 6.3 KIXY may withdraw due Fees directly from the Account.
  • 6.4 Changes to interest, commissions and Fees take immediate effect without prior notice.
  • 7.1 KIXY does not accept Transactions from or to sanctioned persons, countries or territories.
  • 7.2 KIXY may restrict/suspend/cancel Services if Customer actions are non-compliant.
  • 7.3 Restricted/prohibited activities include (non-exhaustive):
    • 7.3.1 Violating law/regulations (AML, data protection, PSD, E-Money regulations).
    • 7.3.2 Violating the Terms/policies.
    • 7.3.3 Offensive/harassing conduct.
    • 7.3.4 Providing misleading/false information.
    • 7.3.5 Sending/receiving unauthorised or fraudulent funds.
    • 7.3.6 IP infringement.
    • 7.3.7 Non-cooperation with information requests.
    • 7.3.8 Refusing identity confirmation during investigations.
    • 7.3.9 Submitting fraudulent documents.
    • 7.3.10 Using tools to hide identity (proxy/anonymisers).
    • 7.3.11 Causing negative balance.
    • 7.3.12 Activities increasing fraud or credit risk.
    • 7.3.13 Disproportionate number of claims.
    • 7.3.14 Using Services from unauthorised jurisdictions.
    • 7.3.15 Malicious programming routines.
    • 7.3.16 Facilitating viruses, Trojans, worms.
    • 7.3.17 Interfering with provision of Services.
    • 7.3.18 Activities risking AML / CTF non-compliance.
    • 7.3.19 Causing complaints/disputes/fines.
    • 7.3.20 Disclosing other Customers' information.
    • 7.3.21 Deviating from prescribed Terms usage.
  • 7.4 Customer liable for losses resulting from such activities.
  • 8.1 KIXY uses identification to prevent unauthorised Transactions.
  • 8.2 Suspected compromise: Customer must notify KIXY immediately; KIXY may block Transactions.
  • 8.3 KIXY may block Account if misuse suspected; Customer will be notified as reasonably possible.
  • 8.4 KIXY not responsible for losses from unauthorised use of Account or Services.
  • 9.1 KIXY may amend Terms with thirty (30) days’ notice; Customer may disapprove and terminate.
  • 9.2 Posting on website/App constitutes valid notification.
  • 9.3 Amendments for improvement not adversely affecting rights may apply immediately.
  • 10.1 Relationship remains until terminated per these Terms or Railsr Terms.
  • 10.2 Either party may terminate on one (1) month’s written notice; rights/obligations accrued remain.
  • 10.3 Termination ends right to use KIXY App/software.
  • 10.4 Parties undertake to complete in-progress Transactions; KIXY may offset amounts due to it first.
  • 11.1 Neither party will disclose confidential business, Transaction, financial or related matters unless required by law or authority.
  • 11.2 Customer authorises KIXY to disclose information as required by law or regulation.
  • 12.1 All KIXY logos, trademarks, graphics, scripts, services, website, App, content and related technology are exclusive property of KIXY. Customer may not copy/use without prior written consent.
  • 13.1 Rights/remedies are cumulative. No delay, omission or partial exercise impairs further exercise or constitutes waiver unless expressly agreed in writing.
  • 14.1 Customer indemnifies KIXY against all losses, taxes, expenses, costs and liabilities arising from:
  • 14.1.1 Any breach of these Terms.
  • 14.1.2 Illegal actions performed using KIXY services.
  • 15.1 KIXY has no tax obligations on behalf of Customer. Customer is responsible for taxes, duties, levies relating to Account or Services.
  • 16.1 KIXY is not responsible for breach due to Force Majeure circumstances.
  • 16.2 Performance is suspended for duration of Force Majeure.
  • 16.3 KIXY may take action it considers appropriate in such circumstances.
  • 17.1 Explains personal data collection, sharing, storage and rights.
  • 17.2 KIXY may collect, use and disclose personal data as authorised by law or with consent (express or implied).
  • 17.3 Applicability: excludes third party services with their own privacy policies.
  • 17.4 Personal data: any information identifying an individual directly or indirectly.
  • 17.5 KIXY stores personal data electronically or in paper systems.
  • 17.6 Data collection and purpose:
    • 17.6.1 Purpose: set up, manage, analyse and maintain Accounts; offer Services.
    • 17.6.2 Provided info: name, purpose, etc.
    • 17.6.3 On request KIXY provides: recipients of data; access/correction rights; mandatory vs voluntary; legal basis.
    • 17.6.4 Personal data collected:
      • 17.6.4.1 Data provided on forms: name, address, email, gender, ID number, phone, DOB, KYC info.
      • 17.6.4.2 Transaction data: activation, balances, execution records.
      • 17.6.4.3 Correspondence.
    • 17.6.5 Data from third parties for verification and fraud prevention (processors, banks, agencies).
    • 17.6.6 KIXY does not collect/store: 17.6.6.1 data unless stated; 17.6.6.2 info from other sources; 17.6.6.3 sensitive personal data.
    • 17.6.7 Anonymous form use only where knowingly provided.
    • 17.6.8 Disclosure exceptions:
      • 17.6.8.1 KIXY will not disclose except: 17.6.8.2 e-money issuer/card schemes; 17.6.8.3 service partners (e.g. currency operators); 17.6.8.4 service providers (admin, support, marketing); 17.6.8.5 fund transfer parties; 17.6.8.6 business transferees; 17.6.8.7 required by law; 17.6.8.8 as instructed by Customer.
    • 17.6.9 KIXY may provide data to debt collectors if unpaid amounts persist.
    • 17.6.10 Protection:
      • 17.6.10.1 Personal data is stored on secure servers with restricted access and protected technical environment.
  • 18.1 Complaints: contact KIXY by e-mail: customer.support@kixy.com or other means per complaints handling policy (available upon demand).
  • 19.1 KIXY is not responsible for breach due to Force Majeure. Personal information collected will be shared with fraud prevention agencies for fraud/money laundering prevention and identity verification. If fraud is detected, services/finance/employment may be refused. Details: Kixy - Privacy Policy and www.cifas.org.uk/fpn.
  • 19.2 Fraud prevention agencies transferring data outside the UK/EEA impose contractual obligations or require international frameworks for protection.
  • 20.1 Parties will endeavour to amicably resolve disputes in good faith. Threats/blackmail constitute grounds for termination.
  • 20.2 If unsatisfied with KIXY’s response, Customer may contact the Financial Ombudsman Service: https://www.financial-ombudsman.org.uk/.
  • 21.1 These Terms are governed by the laws of England and Wales.
  • 21.2 Disputes will be settled before the courts of England under English law.
  • 21.3 Sections 20 and 21 survive termination.