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Introducing Raisin UK

These are Raisin UK's Terms and Conditions, upon which we intend to rely. For your own benefit and protection, please read this document carefully. It contains important information about your rights and obligations as well as limitations and exclusions that may apply to you. If there is anything that you do not understand please contact us.

Raisin UK is a registration and management portal that enables you to register your details just once in order to access multiple savings products from participating institutions. By registering with Raisin UK, you can hold and view a range of financial products in one place, simplifying the investment process and providing greater efficiency and transparency in the purchase and management of your financial products. Your Raisin UK account can hold from just one to a number of financial products, allowing you to select and monitor your portfolio.

Terms & Conditions

These Terms, together with your Platform Account Application, form a legally binding contract between you and Raisin Platforms Ltd trading as Raisin UK.

Words which we define in the singular form will also include the plural and vice versa. The headings in these Terms are for convenience only and do not limit their scope.

Your acceptance of these Terms is signified by you completing and submitting a Platform Account Application for your Platform Account.

1 Definitions and interpretation

• Business Day means any day except for Saturdays, Sundays and public holidays in the UK; where the London Stock Exchange or the major clearing banks in the City of London are open for business.
• Data Protection Act means the Data Protection Act 1998 as amended from time to time
• Nominated Account means a personal UK bank or building society account in your name and designated as your nominated account in a Partner Bank Account Application and, if applicable, any other account with which it is replaced and nominated as such through the Platform from time to time. This will be the same bank or building society account from which you fund your Partner Bank Account(s) and any monies due to you from your Partner Bank Account(s) will be paid into.
• Partner Bank means any participating financial institution which makes financial products available through your Platform Account and which holds the appropriate licences.
• Partner Bank Account means a deposit, savings or other account for a financial product that you apply for and open with a Partner Bank through the Platform.
• Partner Bank Account Application means an application to open a Partner Bank Account.
• Platform means the Raisin UK platform.
• Platform Account means your Raisin UK Account which may comprise of Partner Bank Accounts.
• Platform Account Application means an application to open a Platform Account.
• Raisin UK means Raisin Platforms Limited a company registered in England and Wales with corporate registration number 11075085, with its registered office at C/O Jag Shaw Baker, Berners House, 47-48 Berners Street, London, W1T 3NF and trading as Raisin UK.
• Services means the online services available to you from your Platform Account. These services will include, but not be limited to, the following:
  1. the functionality to open and administer your Platform Account;
  2. the functionality to view your Partner Bank Accounts in your Platform Account;
  3. the functionality to view reports relating to your Platform Account and Partner Bank Accounts;
  4. access to information and literature relating to your Platform Account; and
  5. making and receiving of communications relevant to your Platform Account and Partner Bank Accounts.
• Terms means these Terms and Conditions, as amended or replaced from time to time.
• UK means the United Kingdom of Great Britain and Northern Ireland, excluding the Isle of Man and the Channel Islands.
• We and us or our means Raisin UK or any other company within the Raisin UK group to which Raisin UK's rights and obligations under these Terms are transferred from time to time.
• You or your means the person or persons who apply for or successfully apply for a Platform Account or a joint Platform Account.
  1. Any reference in these Terms to writing or similar expressions includes a reference to email or facsimile transmission or comparable means of communication.
  2. Any reference in these Terms to provisions of a statute or statutory instrument shall be construed as a reference to that provision as amended, re-enacted, succeeded or extended at the relevant time.

2 Opening a Raisin UK Account

1. These Terms set out the terms and conditions that apply to your Platform Account.
2. These Terms contain important information that you should read carefully because they explain our obligations to you and your obligations to us. You should keep these Terms safe for future reference because they form a legal contract between you and us.
3. We will not advise you about the suitability of any Partner Bank Account or any other financial product, nor will we be responsible for any advice given to you by a financial adviser.
4. We will send details of how to fund any Partner Bank Account opened through the Platform in the notification that your Partner Bank Account Application has been accepted by a Partner Bank.
5. Your Platform Account will only be opened when:
   1. you have accepted these Terms; and
   2. we have accepted your Platform Account Application.
6. Once we have accepted your Platform Account Application, we will open a Platform Account in your name(s) and maintain it in accordance with these Terms.
7. By completing a Partner Bank Account Application form, you confirm that the information you have provided is accurate and complete.
8. You are required to notify us promptly if there is a change to any of the following:
   1. your name;
   2. your address; and/or
   3. your Nominated Account(s)
9. Any of these changes may necessitate further money laundering checks being carried out. It might be necessary for us to ask you for, and for you to provide, more information as part of this process.
10. You agree to provide us from time to time with all such information about you as we may reasonably require in order to fulfill:
    1. our legal or regulatory obligations; and/or
    2. our obligations to you under these Terms.
11. To open a Platform Account with us, you must be at least 18 years old.

3 Joint accounts

1. You may, together with another person or persons, open a joint Platform Account with us where a Partner Bank operates joint Partner Bank Accounts.
2. Where you have a joint Platform Account with us, each joint owner is jointly and severally liable under these Terms. This means that each of the joint owners is responsible for all of the obligations which stem from the joint Platform Account both on their own and together. We can therefore ask any or all of the joint owners to rectify a breach of these Terms even if that individual did not cause the breach.
3. Where instructions are given to us in writing we will require all instructions to be given by joint owners. This includes instructions to change a Nominated Account or your personal details or to register a Platform Account into a single name.
4. On receipt of a certified death certificate of a joint Platform Account holder, the surviving joint owner(s) will be the only person(s) to have a right to access the joint Platform Account.
5. We will send notification of Partner Bank Account statements (and other communications relating to a Partner Bank Account) by email to both joint Partner Bank Account holders.

4 Contacting each other

1. We may contact you and give you any notices in connection with these Terms by electronic communications using the telephone number or electronic mail address you have given us.
2. You can contact us by post, telephone or email using the appropriate address, telephone number, electronic mail address or other relevant contact details given to you. If you contact us electronically, we may collect your electronic identifier (Internet Protocol (IP) address) supplied by your service provider. Emails sent by you to us may be monitored.
3. We record or monitor telephone calls with you in order to verify our dealings with you and to make sure that we are meeting our service standards. Recordings and emails remain our sole property and may be used by us in evidence in the event of a dispute.
4. These Terms and all of our communications in relation to your Platform Account will be in English.

5 Instructions

1. In most circumstances any instructions relating to your Platform Account or a Partner Bank Account should be actioned through the Platform's online portal. You may give us instructions in writing but such instructions will require additional security measures to ensure that they are valid.
2. We can refuse to act on any instruction (or request additional information or documentation from you before processing your instruction) if:
   1. we have a good reason for thinking that you did not give us the instruction; or
   2. the instruction is not clear or is incomplete; or
   3. we have reason to believe that by carrying out the instruction we might break a law, regulation, code or other duty which applies to us; or
   4. we have reason to believe that our reputation will be damaged by carrying out the instruction.

6 Statements

1. We will provide statements showing your Partner Bank Account balances and interest rates (or expected profit in respect of Islamic Partner Bank Accounts) at least once a year which will be available to download by accessing your Platform Account
2. You must check your statements carefully and tell us at once if it includes something which appears to you to be wrong or not in accordance with your instructions.

7 Disclosure of information and data protection

1. Raisin UK is a data controller registered with the Information Commissioner's Office and is subject to the requirements of the Data Protection Act 1998 ("DPA"), amendments to it and any future legislation adding to it or superseding it. The DPA governs the use of personal data by businesses and other organisations. In order to provide you with our Services, Raisin UK needs to collect, use, share and store personal data about you and your transactions.
2. Personal data means information that relates to you and from which you can be identified, such as your name, address, telephone number, or date of birth. It may also include information about your financial affairs and transactions. The personal data may also include ‘sensitive personal data' as defined in the Data Protection Act 1998 (for example, information relating to criminal records).
3. The personal data collected by Raisin UK may be obtained from you directly, or from third parties, such as employers, joint account holders, credit reference agencies (who may search the Electoral Register), fraud prevention agencies or other parties associated with you, when you apply for an Account or any other product or service, or which you or they give to us at any other time.
4. Raisin UK will use your personal data to process and store your application, understand your requirements, administer and manage your Platform Account, give you statements, provide our services, prevent and detect fraud, money laundering and other crime, to carry out regulatory checks, to meet our obligations to any relevant regulatory authority, to undertake analysis of our business, to develop and improve our services to you and to protect our legitimate interests.
5. Raisin UK may use your personal data to inform you by email, SMS or telephone about products and services similar to your Platform Account and your Partner Bank Accounts which may be of interest to you if you have opted in to receive such communications. If you do not want us to contact you about such products and services please opt-out through the Platform's online portal or contact us on 0330 122 0200 or email customerservices@raisin.co.uk.
6. Raisin UK will take appropriate measures to keep your personal data secure and confidential.
7. Raisin UK may disclose your personal data to the following third parties:
   1. our employees, consultants, and professional advisors;
   2. successors-in-title to, and potential purchasers and investors in, all or part of our and Raisin UK's business;
   3. licensed credit reference and/or fraud prevention agencies to help make financial decisions during the Platform Account Application and Partner Bank Application process and on an ongoing basis. This information will be used to decide whether to make, or continue to make, products and services available to you. Our enquiries or searches may be recorded and credit reference agencies may supply us with financial information;
   4. contractors who provide a service to us or are acting as our agents, on the understanding that they will keep the personal data confidential and secure; and
   5. other third parties where we are under a legal obligation to do so, for example where we are required to share information under statute or because of a court order.
8. Where you provide us with the personal data of a third party (for example, about a joint Platform Account holder or another individual in your household), you confirm that you have obtained their consent prior to disclosing that personal data to us.
9. Raisin UK may transfer your information to other countries, including countries outside the European Economic Area which may not have laws which provide the same level of protection to personal data as provided in the DPA. Where we do so we will ensure that such transfers are compliant with the DPA and that appropriate security measures are put in place.
10. From time to time we may change the way we use your personal data. Where we believe you may not reasonably expect such a change we will email you to notify you of the change. If you have any objections to the change please contact us.
11. If you terminate your relationship with us we will retain the personal data we have collected on you for as long as permitted as for legal, regulatory and, fraud prevention purposes.
12. You can request a copy of the personal data that we hold about you at any time by contacting us at Raisin UK, 64 Bridge Street, Manchester, M3 3BN. You also have the right to have any of your personal data corrected if it is factually incorrect. For further information on your rights under the DPA you can contact us or visit www.ico.gov.uk.

8 Changes that affect your Account

1. We can make reasonable and appropriate changes to these Terms (or issue a replacement set of terms and conditions in their place) at any time while your Platform Account is in operation:
   1. to reflect changes to relevant law or regulation, or a decision of the Financial Ombudsman Service, or any successor to it; or
   2. to reflect new industry guidance and codes of practice which are designed to raise standards of consumer protection; or
   3. if it becomes impossible or impracticable, in our reasonable opinion, to carry out any of these Terms as a result of a change in the law or regulation or other circumstances beyond our control; or
   4. to reflect the increase of our reasonably incurred costs associated with administering your Platform Account; or
   5. to reflect improvements to your Platform Account that technological, service or propositional enhancements have allowed us to make; or
   6. where any such change is not to your detriment, including to correct any errors or inaccuracies.
2. Subject to clause 8.3, we will give you at least two months' notice before a change to these Terms becomes effective and provide you with an amended version of this document or just the amended terms by post or email or by directing you to our website.
3. Changes to these Terms that are outside of our control, (e.g. a change in legislation) will take effect immediately. All other changes to these terms will take effect at least two months' from the date of our notification to you of the change or any later date specified in the notice. Each notification of change we provide you with will state on it the reasons for the change and the date the change will become effective.
4. If you object to a change implemented by us in respect of the valid reasons contained in these terms, please contact us but please note your only recourse may be to close your Platform Account.

9 Withdrawal, Suspension, Closure and Termination

1. In exceptional circumstances we may suspend the operation of any or all of our Services with immediate effect. If we do so we will promptly notify you of any such suspension.
2. We may withdraw the provision of any Service by giving you two months' prior notice in writing. You will continue to be liable in respect of all liabilities outstanding or arising after the Service is withdrawn which relate to the period before withdrawal and you will return to us any equipment we provided in connection with that service.
3. We may take action to close your Platform Account immediately if we reasonably believe that:
   1. you have given us any false information at any time; or
   2. you or someone else is using the Platform Account or a Partner Bank Account illegally or fraudulently; or
   3. you behave in a threatening or violent manner towards our staff; or
   4. you were not entitled to open your Platform Account or a Partner Bank Account; or
   5. you have been in serious or persistent breach of these Terms or any additional conditions which apply to your Platform Account or a Partner Bank Account; or
   6. you have become bankrupt; or you are unable pay your debts; or any step, application or proceeding has been taken by you or against you or in respect of the whole or any part of your business for a voluntary arrangement or composition or reconstruction of your debts, winding up, dissolution, administration, receivership or otherwise.
4. We can end our relationship with you, without giving a reason, by telling you in writing. We will give you at least two months' notice in writing unless there are exceptional reasons for us needing to terminate the relationship sooner (for example, in the circumstances set out in clause 9.3 or where we are no longer appropriately authorised to provide your Platform Account).
5. You may close your Platform Account by instructing us to do so. However, you cannot close your Platform Account before the expiry of a fixed term applicable to any Partner Bank Account accessible through your Platform Account. We may, however, agree to allow you to close your Platform Account earlier, for example, if the relevant Partner Bank(s) agree to end early the fixed term(s) applicable to any Partner Bank Account(s) accessible through your Platform Account.

10 Security

1. You must take all reasonable precautions to prevent misuse of your Platform Account and to safeguard your customer security details. Do not disclose the details of the security procedures, password, PIN or other security codes relating to your Platform Account to anyone else. Do not write down your passwords, PIN or any other security codes.
2. Do not store your security details in any way that can be understood by someone else, including a joint Platform Account holder. Any security related device must be kept physically secure, which includes making sure that security details are not kept in any form (including browser or any other software) in such a way that anyone using the same device can go through the security procedures using stored details.
3. If your security details are lost or stolen or you think someone knows them or has used or tried to use them please tell us immediately by contacting 0330 122 0200 or email customerservices@raisin.co.uk.
4. We will do all that we reasonably can to prevent a breach of security resulting in unauthorized access to any Platform Account you have with us and the information that we hold about you. As long as you have not breached clauses 10.1 or 10.2 we will accept liability for any loss or damage to you resulting from any breach of security of our systems.

11 General Provisions

1. Any waiver of a breach of any term of these Terms that we grant to you shall not affect our rights in the future to enforce any of our rights these Terms in respect of any further breach of that or any other term.
2. If any part of these Terms is unenforceable, unlawful or void in any jurisdiction then that part shall be separated from the rest of these Terms which shall continue to be valid and enforceable.
3. These Terms and our dealings with you generally shall be governed by English law and the English courts shall have non-exclusive jurisdiction to determine any dispute arising in connection with the agreement, including disputes relating to any non-contractual obligations.

12 Complaint Handling

1. You may complain to us about any aspect of your dealings at the following address: Raisin UK, 64 Bridge Street, Manchester, M3 3BN; by email to customerservice@raisin.co.uk; or by freephone telephone on 0808 280 2548.
2. If you ask us we will send you written details of how we will deal with your complaint.
3. If you are not satisfied with the way we have dealt with your complaint you can complain, free of charge, to the Financial Ombudsman Service at Exchange Tower, London, E14 9SR; Tel: 0800 023 4567; or at www.financial-ombudsman.org.uk
4. Making a complaint will not affect your right to take legal action.
5. We will record details of your complaint centrally and make sure your complaint is thoroughly investigated by someone who has been trained in complaint handling.