Terms & Policies

Please read these User Terms if you would like to know more about the terms on which Bank Routings PLC B.V. and its group companies in the EU and UK (hereinafter referred to as “Bank Routings”, “we”, “us”, or “our”) make their payment and settlement services available to you.

User terms

Simple structure and language

We have set out our User Terms on this page in clear language and a logical structure.

Your role
Your account
Our services
Liability and complaints

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Section A: Introduction

1. Your role

When you use our services, you may act in different roles. You can either be the party who makes a payment (a “Payer”) following the prompts of a request to pay (a “Bank Routings Payment Instruction”), or the party who, through our payment services, wishes to receive a payment (a “Beneficiary”).

Depending on the capacity in which you use our services — whether you are a Payer or a Beneficiary — there is a difference in what we do for you and what we expect from you. If you do not agree to these terms, then you shall not register or act on a Bank Routings Payment Instruction.

2. About Bank Routings PLC

Bank Routings PLC (“Bank Routings”) is a Swiss Public Limited company and a licensed credit and payment institution, supervised by the Swiss Central Bank.

3. About the Client Funds Foundation

As a regulated institution, we are obliged to keep the funds we receive on behalf of others, and which we may temporarily hold in escrow, separate from our own funds. Funds held in escrow are safeguarded with the Bank Routings Client Funds Foundation. The Swiss Central Bank includes this foundation in its supervision.

4. Processing your personal data

For more information about your privacy and our processing of your personal data, we refer you to our privacy statement, which you can find in the footer of our website: https://bankroutings.com.

Section B: Your Use of our Services

5. Bank Routings Account

A Bank Routings Account is created for you once you register with us as a Beneficiary via a Partner Institution. Payers may also choose to register for a Bank Routings Account. A Bank Routings Account shows your personal details, any linked bank account and information about your use of our services. It is an easy and secure way to communicate with us, but it is not a payment account.

You can access your Bank Routings Account by means of a username and password (login details). Your login details are personal and you are advised to keep them strictly confidential. You are responsible for any use of your Bank Routings Account with your login details, including any damage caused by it. You must inform us if you discover or suspect that anyone other than yourself has had access to your Bank Routings Account. To close your account, we refer you to our Account Closing Policy at https://bankroutings.com/en/terms-policies.

6. Do’s and don’ts

The following always applies:

a) You shall comply with all applicable laws and regulations. Bank Routings services may not be used to cheat, defraud or deceive, or in any way to injure or harm others (including us).

b) You shall adhere to these User Terms, and also to the terms of the Partner Institution, and you will honour what you have agreed with other users of the Partner Institution.

c) Information you provide to us must be complete and accurate, and you must update information you have previously provided should anything change.

d) If you are asked for information, you shall provide it in a timely manner, as specified. Failure to do so may be to your own detriment, as any delay may prevent us from providing our services to you.

e) We receive the information we need to provide our services to you, on your behalf, from the Partner Institution. You allow us to use that information.

7. Does a minimum age apply?

As a minor, you first need permission from your parents or legal representative(s) to use our services. We assume that you have permission to use the services of the Partner Institution. You must have a valid bank account, and we therefore assume that the necessary permission from parents or legal representatives has been obtained for holding and using your personal bank account. We may request a written declaration giving consent for you to use our services. If you use our services on behalf of a legal entity or company, you are solely responsible for that use and we shall assume that you are legally authorised to do so.

Section C: Description of our Services

8. Receiving a Payment Instruction

a) You receive a Bank Routings Payment Instruction in connection with a payment you have agreed to make to a Beneficiary on the website or in the application of a Partner Institution. That Beneficiary has asked us to accept your payment on its behalf. If you act on the Bank Routings Payment Instruction, you will be redirected to the payment environment of your own payment service provider (such as your bank) to request the execution or initiation of the payment due to the Beneficiary.

b) These User Terms apply each time you decide to act on a Bank Routings Payment Instruction. You can read them beforehand and, if you proceed, we shall assume that you have read and accepted them.

c) If you select a Bank Routings Payment Instruction with Bank Routings Escrow, the “Escrow Arrangements” apply in addition to the agreement under which the payment is due to the Beneficiary. The applicable Escrow Arrangement can be found in the app or on the website of the Partner Institution.

d) The Partner Institution informs us, on your behalf, about the Escrow Arrangements and any related update, and you allow us to use that information to provide our services to you.

9. Accepting payments

a) You can inform the Partner Institution of your wish to register as a payment service user of Bank Routings. By completing a registration process in which you accept these User Terms and provide all requested information, a Bank Routings Account will be created for you. As a regulated institution, we are obliged to establish and verify your identity in order to prevent money laundering and terrorist financing. Your bank account details are required for us to transfer the funds we received on your behalf to your bank account (a “Payout”). We may ask you for additional information at a later stage.

b) You are obliged to notify us if you are a Politically Exposed Person (“PEP”). You can determine whether you are a PEP by referring to the guidelines on our website. We shall assume that you are not a PEP if you have not informed us otherwise.

c) We monitor the payment details we receive to prevent fraud, money laundering and terrorist financing. We apply certain limits and risk-based restrictions to ensure we provide our services safely, securely and in compliance with applicable laws and regulations. We will notify you of applicable limits and restrictions in advance where possible.

d) You shall provide complete and correct information if requested by or on behalf of Bank Routings. If you register on behalf of a legal entity or company, you warrant that you are authorised to represent it and that you shall act on its behalf. If we have reason to doubt the information you have provided, we may close the relevant Bank Routings Account and discontinue our services.

10. Bank Routings Escrow (Services)

a) As a Payer making a payment by means of a Bank Routings Payment Instruction without Bank Routings Escrow, you trust that the Beneficiary will proceed as agreed. Once we have notified each of you that the payment has been successfully made, we will initiate the Payout to the Beneficiary.

b) If a payment is made by means of a Bank Routings Payment Instruction with Bank Routings Escrow, we will hold the funds we receive on behalf of the Beneficiary until it has been determined whether the conditions of the Escrow Arrangements have been met. If they have not, no Payout will be made to the Beneficiary and a refund will be made to the Payer. Some Partner Institutions offer to mediate in the event of disagreement about whether the conditions of the Escrow Arrangement have been met.

11. Card payments

Additional rules may apply where cards are available as a payment method. Please be aware that there are circumstances in which a payment made with a card can be reversed (a chargeback). If you pay with a card, or if you are the Beneficiary of payments Payers make with cards, you will be asked to make additional agreements about this with the Partner Institution. Those agreements regulate your liability and can lead to you having delivered something without receiving payment for it. In accordance with what the Partner Institution agrees with Bank Routings and with its users, we carry out the (liability) agreements concluded about chargebacks, settling your agreed liabilities when making the Payout. Cards are not the only reversible payment method; the Partner Institution will inform you about other reversible payment methods as and when relevant.

12. Costs for Bank Routings Payment Instructions

Service costs are charged for the services we provide through Bank Routings Payment Instructions. Additional costs may be charged for Bank Routings Payment Instructions with Bank Routings Escrow. Before you decide to use a Bank Routings Payment Instruction, the Partner Institution is responsible for informing you whether you will be charged any additional costs and their amount. In the event of a refund, we shall deduct any service costs owed from the amount of the payment. The payment process is designed so that it is always clear who pays whom, and for what.

13. Payout

Once we have received notification that the payment has been executed, we shall notify the Partner Institution, who shall notify all users involved that the payment has been successful (a “Payment Confirmation”). If no Escrow Arrangements have been made, we will make the Payout to the Beneficiary within one business day after the Payment Confirmation. If Escrow Arrangements have been made, we process the Payout within one business day after it has been established that the agreed conditions have been met, or within one business day after any mediation by the Partner Institution has led to a resolution or decision.

14. Attention

Making payments by means of a Bank Routings Payment Instruction is at your own risk. This includes, but is not limited to, paying a different amount than you agreed with the Beneficiary, making a payment to a different (legal) person than you intended, or paying for something you did not want or do not have to pay for. Any damages you may incur are for your own account, unless such events occur due to Bank Routings’s wilful intent or gross negligence. In such a case, in respect of payments for which a Payout has not yet been made, we will at your request put the Payout ‘on hold’ until we have established what happened.

Section D: Other general provisions

15. These User Terms

As a Payer, you accept these User Terms each time you act on a Bank Routings Payment Instruction. As a Beneficiary, you may choose to cancel your payment service agreement with us at any time. Access to your Bank Routings Account stops with the cancellation of the payment service agreement.

16. Ending your agreement with Bank Routings

As a Beneficiary, you may end your payment service agreement with us at any time. We may also end the agreement, for example where required by law or in the circumstances described under ‘Non-performance or breach by you’. When the agreement ends, your access to your Bank Routings Account stops, while any obligations that arose before it ended continue to apply.

17. Availability of our services

We cannot and do not warrant that Bank Routings Payment Instructions will work at all times, nor that payment methods are always available.

18. Non-performance or breach by you

In the event of (a reasonable suspicion of) fraud, abuse of our services, or any perceived negligence in performing your obligations, violating our prohibitions or expectations, or harming our interests or those of others, we may deactivate the Bank Routings Payment Instruction or decide to withhold a Payout or process a refund to the Payer, without incurring any liability.

If it has been established that we have incurred damage as a result of your act or omission as a consumer, we may settle this against the payment. If you use Bank Routings Payment Instructions and Bank Routings Escrow for business purposes, you indemnify us against all damage we suffer due to your actions or omissions, and we will settle the payment or collect the relevant amount from your bank account.

19. Liability

19.1 Our liability. We can only provide our services in respect of Bank Routings Payment Instructions if everyone involved complies with their obligations towards us and towards each other. We do not accept liability for damages that someone involved incurs due to the non-performance of a party other than Bank Routings. We limit our liability for damages to the amount of the payment. We remain fully liable at all times for damages you have incurred as a result of our wilful intent or gross negligence.

19.2 Your liability. You are liable for any damages we may incur in connection with your acts, omissions or non-compliance with these User Terms.

20. Complaints

20.1 About other users. We register and monitor the complaints we receive about Payers or Beneficiaries. In the event of multiple complaints, we may decide to block certain users from using our services in order to safeguard the integrity of those services.

20.2 About Bank Routings. If you have a complaint about our services, we would like to resolve it together. You can report your complaint through the support page on our website. If you have incurred damage and believe we are liable for it, you must report this to us in writing and explain why. If we cannot resolve the issue together and you have received payments through Bank Routings as a consumer, you may direct your complaint to the Financial Services Complaints Institute (‘Kifid’, www.kifid.nl), which makes a binding decision. At any time, you may also file your claim with a competent court in your country of residence. For users representing a legal entity, jurisdiction lies with the court in Rotterdam, the Netherlands.

21. Governing law

In providing our services, we comply with Swiss law and, if you pay or receive payments as a consumer, with the mandatory provisions that apply in the country where you live.