Preliminary warning
MyProsperise offers a neobank experience (white-label online banking). Accounts, IBANs and payment services are provided by a duly authorised partner institution. Prosperise Capital LLP is not a credit institution and does not accept deposits in its own name.
The protection of funds depends on the regime applicable to the partner institution (bank deposit, payment account or electronic money). Information on deposit guarantee schemes, where applicable, is provided in the contractual documents.
These terms must be expressly accepted before any account is opened.
Title I — Framework of the service
Article 1 — Purpose
1.1. These Specific Terms (the “Accounts Terms”) set out the arrangements under which the Client accesses, through the MyProsperise platform, an account, an IBAN, cards and payment services provided by a duly authorised partner institution.
1.2. They supplement the General Terms of Use of the MyProsperise platform. In the event of conflict, the Accounts Terms prevail in respect of all matters relating exclusively to the accounts area.
1.3. They do not replace the terms of the partner institution, which govern the contractual relationship between the Client and that institution for the keeping of the account and the execution of payment transactions.
Article 2 — Definitions
- “Partner Institution”: the duly authorised bank, payment institution or electronic money institution that actually provides the account to the Client and whose identity is disclosed in the contractual documents.
- “Account”: the deposit account, payment account or electronic money account provided by the Partner Institution and accessible through the App.
- “IBAN”: the international identifier of the Account, whether a named IBAN or a virtual IBAN linked to a master account.
- “Card”: the physical or virtual payment card associated with the Account, in the Classic, Advantage or Elite tier.
- “Main Balance”: the available balance of the Account as displayed in the App.
- “Payment Transaction”: any transfer, direct debit, card payment or withdrawal initiated from or to the Account.
Article 3 — Nature of the service
3.1. The MyProsperise accounts area offers a neobank experience (white-label online banking). Accounts, IBANs and payment services are provided by one or more duly authorised partner institutions.
3.2. Prosperise Capital LLP acts as interface and distributor. It is not the legal holder of the account and does not accept deposits in its own name.
3.3. The authorisation held by Prosperise Capital LLP for certain investment activities does not in any way replace the Partner Institution’s authorisation for the keeping of accounts and the provision of payment services.
Article 4 — Role of Prosperise Capital LLP
Depending on the contract between it and the Partner Institution, Prosperise Capital LLP may, in particular:
- provide the App and the interface for viewing the Account;
- collect and transmit account opening applications and the necessary KYC information;
- transmit to the Partner Institution the payment instructions initiated by the Client;
- provide first-level support and assistance to the Client;
- display the account, card and transaction information provided by the Partner Institution.
Prosperise Capital LLP does not hold the Client’s funds and does not itself execute payment transactions.
Article 5 — Role of the Partner Institution
The Partner Institution is the legal provider of the account. Under the conditions of its own contractual documents, it is responsible in particular for:
- opening and keeping the Account;
- safeguarding and protecting the funds;
- issuing the IBAN and the Cards;
- executing payment transactions;
- the regulatory obligations attached to its authorisation.
Article 6 — Identification of the Partner Institution
6.1. The identity of the institution that actually provides the account is disclosed to the Client in the contractual documents before or at the time the account is opened. This disclosure is mandatory.
6.2. The Client also receives information on the nature of the Account (deposit, payment or electronic money), information on deposit guarantee schemes where applicable and the Partner Institution’s specific terms.
6.3. Prosperise Capital LLP may keep confidential the overall list of its business partners not involved in the service subscribed to.
Title II — Opening and operation of the Account
Article 7 — Possible types of account
Depending on the architecture adopted with the Partner Institution, the Account may be:
- a named account opened in the Client’s name by the Partner Institution;
- a virtual IBAN linked to a master account held by the Partner Institution;
- a payment account or an electronic money account, a regime distinct from bank deposits.
The applicable type of Account is specified in the contractual documents provided to the Client.
Article 8 — Virtual IBAN
Where the model adopted is that of a virtual IBAN, the IBAN may be presented to the Client and used to receive and send transfers. It is, however, specified that the underlying account is held by the Partner Institution. The Client can at any time identify the actual legal holder of the underlying account in their contractual documents.
Article 9 — Opening conditions
9.1. Opening an Account is reserved for persons who meet the eligibility conditions of the General Terms of Use and of the Partner Institution.
9.2. Opening is subject to verification of the Client’s identity (KYC), acceptance of these Accounts Terms and acceptance of the Partner Institution’s terms.
9.3. The Partner Institution alone decides whether to open the Account. An opening application does not constitute acceptance.
Article 10 — Identity verification and due diligence obligations
10.1. The Client provides the requested supporting documents (identity document, proof of address, information on the source of funds and any additional compliance information).
10.2. Prosperise Capital LLP and the Partner Institution exercise ongoing monitoring of transactions. They may request supporting documents, suspend a transaction or block the Account where a legal or regulatory obligation so requires.
Article 11 — Access to the Account from the App
11.1. The Client views their Main Balance, history and Cards from the App. The information displayed is provided by the Partner Institution.
11.2. In the event of any discrepancy between what is displayed in the App and the Partner Institution’s statements, the latter are authoritative.
Article 12 — Funding the Account
The Account may be funded by incoming transfer or by any other means offered by the Partner Institution. Crediting times depend on the means used and the payment systems concerned.
Article 13 — Prohibited or restricted transactions
Certain transactions may be refused or restricted by the Partner Institution, in particular with regard to limits, destination countries, merchant categories or compliance requirements. The applicable limits are indicated in the App and in the contractual documents.
Title III — Cards
Article 14 — Issuance of Cards
14.1. Physical and virtual cards (Classic, Advantage, Elite) are issued under the partnership with the Partner Institution.
14.2. The Card remains the property of its issuer. It is strictly personal and may not be lent or transferred.
Article 15 — Card tiers
MyProsperise offers physical and virtual cards in three tiers (Classic, Advantage, Elite), which can be managed from the app. The features, limits and prices of each tier are set out in the fee schedule and in the App.
Article 16 — Card management
Cards are managed (blocking, unblocking, limits, notifications) through the App, within the limits defined by the Partner Institution.
Article 17 — Security of card payments
17.1. Online payments may require strong authentication, in particular through the 3D Secure protocol.
17.2. The Client keeps their PIN secret and does not disclose it to anyone. They check the amount of each payment before approving it.
Article 18 — Loss, theft and blocking
In the event of loss, theft or fraudulent use of their Card, the Client immediately blocks the Card from the App and follows the Partner Institution’s blocking procedure. They also inform support at support@myprosperise.app.
Title IV — Transfers and payments
Article 19 — SEPA transfers
Standard SEPA transfers made from the MyProsperise account are free of charge. Transfers are executed by the Partner Institution within the timeframes of the European payment systems.
Article 20 — Instant transfers
Where the Partner Institution offers them, the Client may send instant transfers. Their availability, limits and pricing are indicated in the App before confirmation.
Article 21 — International transfers and currency conversion
International transfers depend on the partner’s capabilities and the applicable fees. Currency conversion fees or fees charged by a third-party bank may be added; where they are known, they are indicated before confirmation.
Article 22 — Accuracy of payment details
The Client is responsible for the accuracy of the payee’s identifier (IBAN, BIC, name). A transfer executed in accordance with the identifier provided is deemed to have been correctly executed. The Partner Institution may, where applicable, check that the payee’s name matches the IBAN.
Article 23 — Revocation and disputes
23.1. A payment transaction can no longer be revoked once received by the Partner Institution, except in the cases provided for by regulation and by its terms.
23.2. The Client reports without delay any transaction they have not authorised or that has been incorrectly executed, in accordance with the procedure and within the time limits provided for by the Partner Institution.
Title V — Savings
Article 24 — Savings feature
The App may enable the Client to set aside part of their funds, in particular by goals. ¹ SAVINGS: return target of up to 2.5% per year on the funds set aside, up to an eligible deposit of €200,000. Variable rate, subject to change. Applicable terms and conditions apply.
Article 25 — Return not guaranteed
The return target of up to 2.5% per year is variable and not guaranteed. It applies within the limits and conditions communicated. The applicable rate may change at any time; the rate in force is the one displayed in the App.
Article 26 — Regime applicable to funds set aside
Funds set aside remain subject to the regime applicable to the Account provided by the Partner Institution. Information on the protection of these funds is set out in the contractual documents.
Title VI — Fees, protection and risks
Article 27 — Fees
27.1. The fees applicable to the Account, the Cards and transactions are set out in the fee schedule in force and in the App. No fee that is not mentioned may be charged.
27.2. Any change in fees is brought to the Client’s attention before it comes into force, under the conditions provided for by regulation.
Article 28 — Protection of funds
28.1. Funds are not deposited with Prosperise Capital LLP.
28.2. Depending on the nature of the Account, funds may benefit from a deposit guarantee scheme (bank deposit account) or from protection by safeguarding (payment account or electronic money account). The applicable regime and its limits are specified in the Partner Institution’s contractual documents.
Article 29 — Risks and limitations
29.1. Prosperise Capital LLP does not guarantee the continuity of payment services in the event of the partner’s failure.
29.2. Access to the Account may be temporarily unavailable due to maintenance, a technical incident or a decision of the Partner Institution.
29.3. Transactions may be delayed by regulatory checks or by the operation of payment systems.
Article 30 — Account security
30.1. Access to the Account is protected by strong authentication, including a verification code at sign-in. Exchanges are encrypted (TLS).
30.2. The Client never discloses their credentials, codes or passwords. MyProsperise never asks for them by telephone, email or message.
Title VII — Duration and termination
Article 31 — Duration
The Accounts Terms apply for an indefinite period from the opening of the Account.
Article 32 — Closure at the Client’s initiative
The Client may request the closure of their Account at any time, under the Partner Institution’s terms. The credit balance is returned to them once ongoing transactions have been settled.
Article 33 — Closure or suspension at the initiative of Prosperise or the partner
The Account may be suspended or closed in the event of a breach by the Client, suspected fraud, a legal or regulatory obligation, or the end of the partnership. The Client is informed under the conditions provided for by regulation and by the contractual documents.
Article 34 — Change of Partner Institution
In the event of a change of Partner Institution, the Client is informed in advance. Any migration of the Account, the IBAN and the Cards is subject to the Client’s consent where regulation so requires, and the identity of the new institution is disclosed to them.
Title VIII — Final provisions
Article 35 — Complaints
Any complaint relating to the Account may be sent to support@myprosperise.app. Complaints relating to the keeping of the Account or the execution of a payment transaction are also handled in accordance with the procedure of the Partner Institution, which specifies the available means of redress.
Article 36 — Personal data
The data necessary for opening and operating the Account is processed by Prosperise Capital LLP in accordance with the Privacy Policy and transmitted to the Partner Institution, which acts as controller for its own processing.
Article 37 — Governing law
These Accounts Terms are governed by English law, subject to applicable mandatory provisions and to the law applicable to the Partner Institution’s terms, as specified in its contractual documents. The courts of London have jurisdiction, subject to mandatory provisions.
Article 38 — Acceptance
These terms must be expressly accepted before any account is opened. The version accepted and the date of acceptance are recorded.
Accounts, IBANs and payment services are provided by a duly authorised partner institution. Prosperise Capital LLP is not a credit institution. The protection of funds depends on the regime applicable to the partner institution.