Terms & Conditions
Last updated: 29th June 2021 22:29
11/09/2020 - Added Multi-Linking account capability
16/10/2020 - Added list of supported institutions
22/10/2020 - Removed C. Hoare & Co as they don't support OpenBanking
01/03/2021 - Added Credit and Debit Card Linking via Fidel
The information provided here (read in conjunction with the Upside Money Limited ("Upside") Privacy and Cookie Notice outlines the legal terms and conditions ("Terms") on which Upside Money Limited provide you with access to our services as outlined below.
The Upside Saving App (“App”) is a personal savings assistant available through our mobile application services that aims to find your potential lost savings ("Upsides") based on your daily spending habits. These Upsides are then automatically and effortlessly set aside in your Upside Account for you (the "Service") as detailed on our website https://www.upsidesaving.com ("our site").
These Terms will apply to your use of Upside and the provision of our services to you. Please read these Terms carefully and make sure that you understand them, before signing-up to Upside. Please note that before you use Upside you will be asked to agree to these Terms and Conditions.
If you refuse to accept these Terms and Conditions, you will not be able to use Upside.
We amend these Terms and Conditions from time to time as set out in clause (f). Please check these Terms and Conditions periodically to ensure you understand the terms which will apply at that time. You may ask for a copy of these Terms and Conditions at any time by writing to us at firstname.lastname@example.org
These Terms and all information will be in the English language.
a) Who is Upside?
We are Upside Money Limited, a Financial Technology company registered in England and Wales under company number 12393337 and our registered office is at 71-75 Shelton Street, London, WC2H 9JQ. Our website can be found at https://www.upsidesaving.com and outlines the services available through our App. Please familiarise yourself without website terms and conditions which can be found here.
b) Contacting us
- If you wish to talk to us for any reason, including because you have any complaints, you can do this by emailing us at email@example.com or tweeting us at @UpsideSaving. We can also be contacted in our app or website via live chat.
- If we have to contact you or give you notice in writing, we will do so by email, through Upside or through an instant messaging service using details you provide to us.
c) Our regulatory status
- Upside Money Limited, with FCA Register Number : 926577 provides you with regulated account information services as an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Registration Number: 804718) for the provision of payment services, including account information services.
- Upside Money Limited is registered with the Information Commissioner’s Office; registration number: ZA747081 and complies with the UK Data Protection Act
- Upside Money Limited acts as a distributor of Railsbank and PayrNet. PayrNet is a wholly-owned subsidiary, regulated by the Financial Conduct Authority under the Payment Service Regulations 2017 as an Electronic Money Institution (Firm Reference Number: 900594), and provides regulated financial services to Railsbank customers.
d) Security incidents
If we become aware or suspect that you are affected by fraud or an operational security incident, we will contact you as soon as any irregularity is detected or we are made aware of it.
In the event of any conflict or inconsistency between:
- the Terms of Website Use;
- these Terms; and
- any Product terms,
these Terms will prevail and take precedence over the Product terms which shall prevail over the Terms of Website Use.
f) The Upside Service
The purpose of Upside is to remove the everyday friction preventing you from saving money without asking you to change your lifestyle or spending habits. You must be over 18 years old to use Upside and a resident in the United Kingdom with a United Kingdom bank account.
Our service will enable you to:
- access details of transactions and balances of your UK bank account(s) held with your bank(s) ("Personal Bank Account");
- save money into an Upside Money e-Account (your "Upside Account") for later use with one of our trusted E-Money Providers;
- access products and services offered by us or third parties; and
For the avoidance of doubt - Upside is the Account Information Service Provider ("AISP") acting as Plaid Financial Ltd's agent for the provision of AIS and OpenBanking services.
We analyse your Personal Bank Accounts and based on our analysis:
- we identify potential lost money and save that into your Upside Account;
- depending on the services you opt for, we will periodically transfer funds from your Personal Bank Account to your Upside Account via our FCA regulated E-Money Provider (see clause 5). This will typically be done every few days ("Sweep"). Only funds from your Personal Bank Account may be transferred to your Upside Account.
- You acknowledge and agree that Upside is not endorsed or sponsored by the providers of your Personal Bank Accounts.
Access to Upside
- Access to Upside services will be through our App.
- Under no circumstance should you allow anyone to access your Upside account on your behalf.
- Your user identification credentials and/or any other piece of information that form part of the Upside service must be treated as confidential.
Our right to vary these Terms
- We expect to update or amend these Terms from time to time to comply with the law or to meet our changing business requirements.
- We can make changes to these Terms without your specific agreement where those updates are, in our reasonable opinion, of an immaterial and routine nature. We may not always be able to give you advance notice of such updates or amendments but we will always post them on our site so you can view them when you next visit our site. In these circumstances, by continuing to use Upside, you agree to be bound by the amended terms and conditions.
- If you do not agree to the proposed changes you can notify us and we will arrange for your account to be closed, subject to any relevant Product terms.
Providing secure read-only access to your Personal Bank Account and Debit or Credit cards
- To use Upside, we will redirect you to your bank via Plaid Financial Ltd who will enable you to securely and safely connect your Personal Bank Account or Credit Cards to the Upside Platform.
- You will be asked to provide your explicit consent to enable us and our AIS partner to access specified information about your Personal Bank Account and/or Credit Card and your transactions on a read-only basis. ii) To keep you safe, we will periodically ask you to renew your consent.
- You may withdraw your consent to access your Personal Bank Account at any time. If you do withdraw (or fail to renew) your consent, Upside will no longer be able to identify Upsides and effortlessly save you money.
- This consent will grant Upside the right to use, modify, display, distribute and create new material using or incorporating such information to provide the Upside Service to you.
- Upside may also use, sell, license, reproduce, distribute and disclose aggregate, non-personally identifiable information that is derived through your use of Upside.
- By submitting information, you agree (without the payment of any fees), that Upside may use the information for the purposes set out above.
- Only you are permitted to use content delivered to by Upside. You may not copy, reproduce, distribute, or create derivative works from this content. Further, you agree not to reverse engineer or reverse compile any of the technology associated with Upside, it’s website or any other provisioned technology.
- You agree that when we retrieve information relating to your Personal Bank Accounts or Credit Cards (Please Note: Curve Credit Cards are not supported) we are doing so as your representative and, on your behalf, and not on behalf of or in the name of any third party. You consent where direct credit or debit card linking is used in the app, that you authorise Fidel Limited to share any and all approved merchant scheme (such as Visa, Mastercard and American Express) data with Upside for the purpose of transaction matching. Furthermore, you consent that the aforementioned data can be used in the production of Upside Data insights in order to provide an enhanced service to you or our merchant partners.
- You agree that we will be entitled to disclose your identity and information relating to your Personal Bank Account(s) to third parties if we are required to do so by any applicable law or court order.
- We do not check the accuracy of the Personal Bank Accounts information and personal information you provide to us and we rely on you and your Personal Bank Account providers to ensure that the Personal Bank Accounts information and personal information you provide to us is up to date and accurate.
- By using Upside, you represent that you are the legal owner of the data in your Personal Bank Accounts and that you have the authority to appoint, and do expressly appoint, our Aggregation Partner as your agent and grant a limited power of attorney to access and retrieve such data on your behalf.
- For our compliance purposes and in order to provide Upside to you, you hereby authorise us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and Personal Bank Account information. When you register for Upside and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you.
- You agree that our third-party services providers are third-party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms.
- Neither Upside nor our Aggregation Partner can initiate any transaction on your Personal Bank Account. However, if you are concerned about any activity on your Personal Bank Account please contact us. If we believe that there is any suspected or actual fraud, or we suspect that there has been a security breach we will contact you by email or any other secure means we may think most appropriate.
g) Setting money aside through Upside
- Upside allows you to periodically put money aside for future payments. We analyse your Personal Bank Account so we can learn about your income, expenses and spending patterns.
- We will set up a direct debit mandate for you with a Payment Services Provider and every few days we transfer some money from your Personal Bank Account to your Upside Account. The amount and frequency of each debit may vary.
- The direct debit will continue until you notify us that you wish to cancel via Upside. We may not be able to stop payments that are already in progress or scheduled to take place when you give notice to cancel. You can also cancel a direct debit by contacting the provider of your Personal Bank Account.
- We are not liable for any overdraft charges you may incur as a result of any direct debits related to your use of Upside unless we are negligent in cancelling your direct debit when asked to do so.
h) Your Upside Account
- Your Upside Account is operated and maintained by an E-Money Provider (PayrNet Terms and Conditions) - (see clause " j " below) for whom we distribute and redeem electronic money.
- The E-Money Provider is obliged to safeguard your money, which they will do by placing funds into a segregated account. If Upside ceases to trade or becomes insolvent, the E-Money Provider will arrange for the redemption of the funds in your Upside Account. If the E-Money Provider ceases to trade or becomes insolvent, Upside will make claims for the redemption of your funds on your behalf.
- Upside may create and maintain for you an Upside Account with more than one E-Money Provider, but Upside will always show your consolidated balance.
- Card linking capability is provided by Fidel. Please see the following article: How do I register a debit or credit card with Upside? on how to link a bank credit or debit card.
- Please Note: Upside only considers your account open once you have passed the ID Verification stage of the account signup process. There are 4 key stages in the opening of an Upside Account. These steps and details, including cashback eligibility, is outlined at https://talkto.upsidesaving.com/en/article/the-upside-account-the-4-key-stages-of-setting-up-explained-ktbbse/
i) Accessing your Upside Account
- Your funds will remain in your Upside Account until you instruct us to transfer any or all of your funds from your Upside Account to your Personal Bank Account by using the "withdraw" functionality. We will generally transfer the requested funds from your Upside Account to your Personal Bank Account within one business day of when we receive your request.
- If you do not have sufficient available funds in your Upside Account to cover the amount of the requested transfer, your request for the transfer will be declined. We may also transfer funds from your Upside Account to your Personal Bank Account without notice to you upon the closure of your Upside Account as described below and at any time if required by applicable law or if we, in our sole discretion, suspect Upside is being used for illicit purposes or otherwise in violation of these Terms.
j) Upside partners and suppliers
- We may from time to time, appoint additional or alternative partners and suppliers to provide the services that make Upside work.
- Providing that we act in your best interests and in accordance with applicable laws, we may as your agent redeem e-money held with an E-Money Provider and distribute to you e-money issued by another E-Money Provider of the same value. We may do this for regulatory reasons, to implement contingency measures in the event of business interruptions, to improve the technical capabilities of Upside, or to lower our operating costs. We will notify you of the identity and terms of any additional or replacement E-Money Provider at least two months in advance (unless we implement contingency plans in which case we will tell you as soon as possible).
- Upside may from time to time offer access to services or products ("Products") that we, or third parties, provide.
- Products may be subject to additional terms and conditions specific to the Product and to fees or subscription charges. Further details will be provided in relation to individual Products.
- Products may involve the transfer of funds from your Upside Account to Upside Corporate Account, a third-party product provider or another supplier. Please note that your ability to access your money will be dependent upon the relevant Product terms.
- Funds realised from closing, redeeming or withdrawing from a Product will be paid back to your Upside Account unless otherwise specified.
- If you choose to proceed with a Product offered by a third party, we will act as your agent in arranging it. In doing so you will be subject to the terms and conditions of the relevant third party, over which we have no control.
- We do not supply the third-party Products and we are therefore not responsible or liable for their supply (or failure to be supplied).
- Obtaining a third-party Product is at your discretion and risk. We do not endorse or recommend any third-party Products.
- Please Note: All products and savings derived from using our products are subject to "Fair Usage" and are wholly at the discretion of Upside. As such, any and all AppStore App or in-App purchases are excluded from cashback. Please get in touch by emailing firstname.lastname@example.org if you would like to discuss this in more detail.
We reserve a right to charge a fee for our provision of Upside and/or for any of the products we offer, as set out on the site from time to time. For more information on our current fee schedule find the necessary details outline on our site.
m) Use of Upside
Your use of Upside (including our App) is governed by our *Terms of Website Use *which can be found on our site. Please take the time to read this, as it includes important terms which apply to you.
n) How we use your personal information
You expressly understand and agree that:
- Your use of Upside and all information, products and other content (including that of third parties) included in or accessible from Upside is at your sole risk.
- Upside is provided on an "as is" and "as available" basis. We and our Aggregation Partner expressly disclaim all warranties of any kind as to Upside and all information, products and other content (including that of third parties) included in or accessible from Upside, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
Neither we nor our Aggregation Partner make any warranty that:
- Upside will meet your requirements;
- Upside will be uninterrupted, timely, secure, or error-free;
- The results that may be obtained from the use of Upside will be accurate or reliable;
- The quality of any products, services, information, or other material purchased or obtained by you through Upside will meet your expectations; or
- Any errors in the technology will be corrected.
Any material downloaded or otherwise obtained through the use of Upside is done at your own discretion and risk and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from our Aggregation Partner or us through or from Upside will create any warranty not expressly stated in these Terms.
p) Our liability
- If we fail to comply with these Terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breach of these Terms or our negligence, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if it is an obvious consequence of our breach or if it was contemplated by you and us at the time you started using Upside.
- If our App damages a device or digital content belonging to you, we will either repair the damage or pay you compensation. However, we will not be liable for damage that you could have avoided by following our advice to apply an update offered to you free of charge.
- We only provide Upside for domestic and private use. You agree not to use the product for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
We do not in any way exclude or limit our liability for:
- death or personal injury caused by our negligence; or
- fraud or fraudulent misrepresentation.
Subject to clause 15.4, and to the extent permitted by applicable law, neither we nor our Aggregation Partner will not be liable to you in connection with Upside (including your use or inability to use Upside) for:
- loss of profits or goodwill;
- any statement or conduct on or via Upside by any third party;
- loss of data which is caused by factors other than negligence or breach of statutory duty on the party of us or our Aggregation Partner;
- the acts or omissions of the providers of your Personal Bank Account(s);
- the cost to you of obtaining goods or services as substitutes for the services we provide through Upside; or
- any other loss or damage suffered by you in connection with Upside.
- We are not a financial adviser, and Upside is not intended to provide financial advice. Your financial situation is unique. We are not responsible for ensuring your Upside Account has sufficient funds for your needs, purposes, or transactions. We do not make any representations, warranties, or guarantees of any kind that Upside is appropriate for you.
You agree to protect and fully compensate our Aggregation Partner and us and our affiliates from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable solicitors’ fees) caused by or arising from your use of Upside, your violation of these Terms or your infringement, or infringement by any other user of your account, of any intellectual property or other rights of anyone.
r) Communications between us
- When we refer, in these Terms, to "in writing", this will include email and instant messaging.
- You may contact us as described in clause (b).
s) Lost or stolen mobile device
If your mobile device is lost or stolen or if you suspect someone has gained unauthorised access to your username or password, you must contact us immediately at email@example.com. In order to take any action, you will need to provide certain account information so we can verify your identity.
t) Cancelling your account
You can cancel your use of Upside at any time within the Upside App. Please note that individual Products may be subject to additional terms. Your ability to dispose of or realise a product or investment provided by a third party will depend upon the relevant product terms.
We can cancel our provision of Upside to you if:
- Your use of Upside has been inactive for an extended period of time; or
- You commit a serious breach of these Terms.
- If your account is cancelled, we will transfer any funds standing to the credit of your Upside Account to your Personal Bank Account within two business days.
- If you have cancelled any of your Personal Bank Accounts or transferred a Personal Bank Account to another bank, you must inform us as soon as reasonably possible via Upside.
u) Other important terms
- We can transfer our rights and obligations under these Terms to another organisation, but this will not affect your rights or our obligations under these Terms. We will always notify you if this happens.
- Our agreement is between you and us. Save as otherwise expressly provided for in these Terms, no other person will have any rights to enforce any of its terms.
- Each of the paragraphs of these Terms operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining paragraphs will remain in full force and effect.
- If we fail to insist that you perform any of your obligations under these Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.
- These Terms are governed by English law. This means any dispute or claim arising out of or in connection with these Terms will be governed by English law. You and we both agree that the courts of England and Wales will have non-exclusive jurisdiction. However, if you are a resident of Northern Ireland you may also bring proceedings in Northern Ireland, and if you are a resident of Scotland, you may also bring proceedings in Scotland.
- Please see the list below for the supported institutions that you can link with Upside
Supported Upside Banking Institutions
- Adam & Company
- Aegon (Online Services)
- AJ Bell (Youinvest)
- Allied Irish Bank (GB)
- Allied Irish Bank (GB) - Business
- Allied Irish Bank (GB) - Sandbox
- Amazon Mastercard - NewDay
- American Express (UK)
- Amex Production PSD2 Test
- Amex QA PSD2 Test
- Arbuthnot Latham
- Aviva - My Aviva
- AXA (UK)
- Bank of Ireland (UK) - 365 Online
- Bank of Ireland (UK) - Business On Line
- Bank of Scotland - Business
- Bank of Scotland - Personal
- Barclaycard (UK) - Business
- Barclaycard (UK) - Mobile Banking: Personal
- Barclaycard (UK) - Online Banking: Personal
- Barclays (UK) - Corporate
- Barclays (UK) - Mobile Banking: Business
- Barclays (UK) - Mobile Banking: Personal
- Barclays (UK) - Mobile Banking: Wealth Management
- Barclays (UK) - Online Banking: Business
- Barclays (UK) - Online Banking: Personal
- Barclays (UK) - Online Banking: Wealth Management
- BBVA (UK)
- bunq (UK)
- Capital One
- Cater Allen Private Bank
- Charles Stanley Direct
- Citi UK - Personal
- Clydesdale Bank
- Computershare (Employee Online)
- Creation Financial Services
- Cumberland Building Society
- Cynergy Bank
- Danske Bank (UK) - Business
- Danske Bank (UK) - Personal
- Deutsche Bank (UK) - Cash Manager
- Deutsche Bank Payment Sandbox
- Deutsche Bank Payment Sandbox
- Equiniti Shareview
- Fidelity International - Personal Investing
- First Direct
- First Trust Bank (UK) - Business
- First Trust Bank (UK) - Personal
- Goldman Sachs Asset Managment (UK)
- HSBC (UK) - Business
- HSBC (UK) - Personal
- ICICI Bank
- Interactive Investor - Trading Platform
- James Hay - Online Access
- JP Morgan UK Pension Plan
- Kleinwort Hambros
- Legal and General (Pensions)
- Lloyds Bank - Business and Commercial
- Lloyds Bank - Personal
- M&S Bank
- Marcus by Goldman Sachs (UK)
- MBNA - Personal
- Metro Bank - Business Internet Banking
- Metro Bank - Commercial and Business Online Plus
- Metro Bank - Personal Banking
- N26 (UK)
- N26 Token Test
- National Savings and Investments
- Nationwide Building Society
- NatWest - Current Accounts
- NatWest Sandbox - Sandbox
- Pingit - Mobile Payments
- Royal Bank of Scotland - Current Accounts
- Sainsbury's Bank
- Santander (UK) - Personal and Business
- Scottish Widows
- Skipton Building Society - Skipton Online
- Standard Chartered
- Starling - Payments Test
- Tandem Money
- Tesco (UK)
- TEST - HSBC (UK) - Business
- The Co-operative Bank - Business Online Banking
- The Co-operative Bank - Personal Online Banking
- Triodos Bank (UK)
- Ulster Bank (UK)
- Vanquis Bank
- Virgin Money
- Wealthsimple (UK)
- Yorkshire Bank
- Yorkshire Building Society (UK)