Terms and conditions

1. 1.1. Who we are
   

   Optimly Ltd (herein referred to as “Optimly”) operates as an Account Information Service Provider (AISP), as an Authorised Representative (AR) of Moneyhub, providing digital wealth management via online financial guidance and account optimisation at www.optimly.co.uk and www.optim.ly (the “Site”).

   Optimly is a limited company registered in England and Wales (company reg. no. 13626032) and have our registered office at 20-22 Wenlock Road, London, England, N1 7GU.

   Moneyhub is a trading style of Moneyhub Financial Technology Limited which is authorised and regulated by the Financial Conduct Authority (FCA). Moneyhub Financial Technology is a registered AISP (Account Information Service Provider) and PISP (Payments Initiation Service Provider, reference no. 809360 at fca.org.uk/register. Moneyhub Financial Technology Limited is registered in England and Wales with company number 06909772.

2. 1.2. Definitions
   

   In these Terms of Use:

   • “Product” means any third-party product or service that we display on our Site;
   • “Provider” means any third party who provides a product or service;
   • “Site” means any mobile applications or other similar devices, channels or applications operated by Optimly (referred to collectively as the “Site”); and
   • “You” and “Your” means any person who accesses and uses the Site.
   • “Connected account” is a third-party product which is linked to your Optimly account
   • “Cash allocation” means either saving, investing or debt repayment.
   • “Optimiser” is the proprietary tool which is used to determine cash allocation.
3. 1.3. Your acceptance of these Terms of Use
   
   Access to and use of the Site are subject to these Terms of Use and our Privacy Policy. By accessing and using the Site you agree to be bound by and to act in accordance with these Terms of Use and our Privacy Policy. If you do not agree to these Terms of Use or our Privacy Policy, you should stop using and/or accessing the Site immediately. If you breach any term of these Terms of Use, your right to access and use the Site will cease immediately.
4. 1.4. Changes to these Terms of Use
   
   We reserve the right to amend these Terms of Use from time to time by amending this page. The amended Terms of Use will be effective from the date they are posted on the Site.
5. 1.5. Contacting us
   
   If you have any questions about these Terms of Use or would like to contact us for any other reason, you can email us at: contact@optimly.co.uk.

1. 2.1. Our service
   

   • i) The Services are described more fully on the Site. We pledge that the Services will substantially conform to the relevant description on the Site and will be provided with reasonable care and skill.

     In particular, our Services involve the provision of account information services to you. This means that by using our Services, you agree that we may access, process, aggregate or analyse information from one or more payment or other financial accounts (“Connected Accounts”) that you link to your Optimly account in order to provide you with the following Services:

     • Provision of information regarding your transactions and financial position across all Connected Accounts;
     • Notifying you of certain activity concerning your Connected Accounts where you have requested such notifications;
     • Responding to messages you have submitted through your Optimly account concerning your financial situation or transaction history.
     • Identification of new products for comparison
     • Account optimisation via identifying situations of net interest yield gain
   • ii) Optimly is not a bank nor is it affiliated with any bank or other financial institution. We operate independently and our service is free for you to use. We may receive a fee and/or commission from providers when you use our service to purchase Products.
   • iii) While our service is free to use, you may be charged a fee from Providers when you take out one of their Products. An example of this may be an annual credit card fee charged by the provider for keeping the account open.
2. 2.2. Permitted use
   
   • i) The site is for your personal, non-commercial use only. They may only be accessed and used by a private individual only. Access to and use of the Site other than for your personal, non-commercial purposes is strictly prohibited.

   • ii) You are not permitted to use the site:

     • in any unlawful, fraudulent or commercial manner.
     • to harm, threaten, abuse, embarrass, defame, libel, intimidate or harass another person, or in a way that invades another person’s privacy or is obscene, offensive, hateful, indecent, inappropriate, objectionable, unacceptable, discriminatory or damaging as determined by us;
     • to create, check, confirm, update, modify or amend another person’s records;
     • to tamper with, modify, reverse engineer or amend any part of this Site;
     • in a way that interferes with, disrupts or imposes an unreasonable or disproportionately large burden on our communications and technical systems; or
     • with any automated software, process, program, robot, web crawler, spider, data mining, trawling or other “screen scraping” software, process, program or system.
   • iii) The Site is intended for use only by customers who are located in the UK. We make no warranty or representation that any Product and/or any service we provide is available or otherwise appropriate for use outside of the UK. If you choose to use the Site from locations outside the UK, you do so at your sole risk, and you are responsible for compliance with all applicable local laws.
   • iv) The site is intended for UK taxpayers. Our algorithms are not calibrated for people with dual nationality as this may affect your annual allowances or your obligations in other jurisdictions.
   • v) The Site is intended for the use of over-18s only.
   • vi) You may operate a link to the Site provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, as determined by us. You must not operate a link to the Site in such a way as to suggest or imply any form of association, approval or endorsement by us. We reserve the right to require you to remove any link to the Site immediately and at any time and we may withdraw any linking permission at any time
3. 2.3. Intellectual property rights
   
   • i) All intellectual property rights in any content of the Services (including text, graphics, software, photographs and other images, videos, sound, trademarks and logos) are owned by us or our licensors. Except as expressly set out here, nothing in these terms gives you any rights in respect of any intellectual property owned by us or our licensors and you acknowledge that you do not acquire any ownership rights by downloading content from the Site.
   • ii) In the event you print off, copy or store pages from the Site (only as permitted by these terms), you must ensure that any copyright, trademark or other intellectual property right notices contained in the original content are reproduced.
   • iii) All rights to www.optimly.co.uk and www.optim.ly is owned by us.
4. 2.4. Security
   

   We subscribe to the latest in internet security standards so you can use our service with confidence.

   • i) We use bank-grade security standards to protect your account information and to protect your privacy. Security measures are implemented for your account information while “at rest” and data in transport.
   • ii) Wherever possible we will always use Moneyhub’s Open Banking APIs to allow you to see your accounts in Optimly. Where a provider has an Open Banking API, Moneyhub use the OAuth 2.0 and OpenID Connect standards.
   • iii) Where an Open Banking API is not available, we use an aggregation partner, Yodlee, to retrieve your data so that you can see all your transactions in the same place.
   • iv) Our database servers encrypt Account Information using the standard AES 256bit encryption.

You agree that you will be liable to us for any damage, loss, claim, demand, liability or expense (including reasonable legal fees) that we may suffer or incur arising out of or in connection with your conduct on the Site and/or your breach of these Terms of Use.

1. 3.1. Registering with us
   

   To use any of the Services, you must first register to set up an account with us by completing the account registration form available on the Site. You only need to register once.

   • i) To register, you must be:

     • at least 18 years of age
     • resident in UK
     • a UK citizen and not hold dual-US citizenship.
   • ii) It is your responsibility to ensure you satisfy all of the minimum eligibility criteria set out above before choosing to register with us. By doing so, you confirm to us that you do meet all of the minimum eligibility criteria.
   • iii) To register, you must provide us with accurate, complete and up-to-date contact information, including email address and mobile telephone number. You are responsible for the information you provide to us. You must promptly update your Optimly account in the event of any changes to information you have provided.
   • iv) You must take all reasonable precautions (including using appropriate virus checking software) to ensure that any information, content, material or data you provide (including User Content) is free from viruses and anything else which may have a harmful effect on any part of the Site or the Website of third parties or any other technology.
   • v) If you create any usernames and passwords when using the Site, they must be kept confidential by you and must not be shared with anyone. If you do disclose to anyone your username, password and/or other identification information, you are solely responsible for all activities undertaken on the Site using your username, password and/or other identification information.
2. 3.2. Accessing your Connected Accounts
   
   • i) When you link a payment or financial account to your Optimly account, we will use your Connected Account Security Credentials to access and collect information from your Connected Accounts in order to provide our Services.
   • ii) The information that we will access and collect includes transactions on your Connected Account, the features and benefits of your Connected Account, and details of any regular transactions you have set up on your Connected Account.
   • iii) We will access and collect information from your Connected Account: on a daily basis in order to refresh the financial information displayed on your Optimly dashboard; if you have set up notification requests within your Optimly account, as and when required in order to provide you with the relevant notifications (and until such notification request has been cancelled by you); and whenever you send us a message through your Optimly account regarding your Connected Accounts in order to answer your message. You may remove a Connected Account from your Optimly account at any time. Upon removal, we shall delete any Connected Account Security Credentials held by us and will not continue to access or collect information regarding the removed account.
   • iv) In relation to our provision of the Services please note that our Services consist of the provision of information obtained from your Connected Account providers; we do not provide the information in your Connected Account nor have any responsibility for this information, it is the responsibility of your Connected Account provider to ensure that the information and data in your Connected Account is accurate and up to date; we will not be responsible for any delays or errors caused by the delays or errors of your Connected Account providers; we cannot guarantee that your Connected Account providers will allow us to access all or any information from your Connected Accounts; the information obtain from your Connected Account providers is provided to you on an “as is” basis and therefore no assurances are made that such data is accurate or up to date and we will not be liable for any losses you incur as a result of your reliance on that information; you are responsible for reviewing and notifying us of any discrepancies between the financial information provided to you through our Services and information provided to you directly from your Connected Account providers.
   • v) You should always confirm the information in your Optimly account with the information in your Connected Account. Should you wish to rely on any payment account or transaction information provided under the Service such that, if it were incomplete, inaccurate or out of date you could be prejudiced, you should check the information with the relevant payment account provider it has been obtained from.
3. 3.3. Your personal information and User Content
   
   • i) Once registered and accounts are connected, our service allows you to set up cash allocations, to enable us to provide account optimisation services.
     

     You will need to answer a number of questions on the Site using the Optimiser, in order to determine the appropriate cash allocation. These questions are designed to ensure that we have all the information necessary to provide you with appropriate and timely information relating to how much cash should be attributed to either saving, investing or debt repayment.

     It is very important that you answer all of the questions truthfully, completely and accurately and that you disclose all relevant facts. Failure to do so could invalidate the output of the Optimiser and result in you undertaking the wrong activity for your circumstances.

   • ii) Once it has been determined how much cash to attribute to savings, investing or debt repayment, our service allows you to search for and compare various types of Products from different providers. In order to apply for a Product, you must contact the relevant provider.
   • iii) If you are in any doubt as to whether any information is relevant or required to be disclosed or that something may be incorrect you should disclose it to your proposed provider before you apply for a Product.
   • iv) Before you obtain any Product from a provider, you must check all of the information, content, material or data the provider holds about you to ensure it is correct, complete, accurate and not misleading and that you have disclosed all relevant facts. It is your responsibility to identify and correct any mistakes or errors in the information, content, material or data before you obtain any Product. Failure to do so could invalidate the Product.
   • v) You must get permission from any other person whose information you intend to provide on the Site before you provide it. In submitting any other person’s details, you are confirming to us that you have their permission to do so and that they understand how their details will be used.
   • vi) You must not use the site impersonating any other person or falsely state or otherwise misrepresent yourself.
4. 3.4 Suitability of cash allocation
   

   It is your responsibility to satisfy yourself that you any activity you wish to undertake, such as setting cash allocation or moving cash between accounts, is appropriate. This includes reviewing any early redemption or penalty charges restrictions, exclusions, conditions and obligations associated with transferring money from a given product, if applicable.

   If you are in any doubt as to the suitability, adequacy or appropriateness of the output of the Optimiser or about cash allocation, please seek further financial education using the Money Advice Service links on the Site or seek independent professional advice.

5. 3.5. Suitability of Products
   
   • i) The Products displayed on our Site are not provided by us but by third parties over whom we do not have control.
   • ii) You should always check the suitability, adequacy and appropriateness of the Product that is of interest to you. It is your responsibility to satisfy yourself that you wish to obtain any Product before applying for it. If you are in any doubt as to the suitability, adequacy or appropriateness of any Product referred to on the Site, we suggest that you seek independent professional advice before you obtain it.
   • iii) The Site provide information on a wide range of products and services but there may be other products or services available on the market which are not shown on the Site and which may be more appropriate or suitable for you than those shown on the Site.
6. 3.6. Third party Websites and services
   
   • i) Your use of any Provider Websites and your obtaining of any Products will be subject to the Provider’s own terms and conditions (which will be different from ours). It is very important before you apply for any Product that you carefully read the accompanying terms and conditions, the Provider’s terms and conditions and any other documentation that applies to the Product.
   • ii) Any links to third party Website on our Site or in our emails are provided for your interest and convenience only. These Website are owned and operated by third parties over whom we do not have control. We do not endorse, recommend or accept responsibility for such third parties, their products or services, their Website or for any information, opinions or views given or advice provided by such third parties (whether on their Website or otherwise).

1. 4.1. The information on our Site
   
   • i) We aim to ensure that the material on the Site (excluding, if applicable, any User Content) is accurate. We also try to correct any errors or omissions as soon as we can after being notified of them. However, we are not able to guarantee that the material on the Site is accurate and free from errors or omissions at all times. We reserve the right to add, amend, delete, edit, remove or modify any information, content, material or data displayed on the Site at any time and without notice.
   • ii) Nothing on the Site is financial, investment or other advice or a recommendation or endorsement by us in respect of any Product referred to on a Site. Information on the Site is provided for guidance purposes only, should not be relied upon by you and is provided so that you can select the Product that you feel is most appropriate to meet your needs.
   • iii) The information and descriptions of Products on the Site may not represent the complete descriptions of all the features and terms and conditions of those Products. You must ensure that you carefully read all the features and terms and conditions (including those contained on the provider’s Site) of any Product before applying for it.
   • iv) Some of our channels provide you with access to third party Website that host reviews about products and services. Sometimes you may also be able to access user reviews directly on the Site. The views expressed in any such reviews do not represent our views or the views of our associated companies.
2. 4.2. Availability of the Site
   
   We aim to provide uninterrupted access to the Site, but we give no warranty on this. We reserve the right to suspend, restrict or terminate your access to the Site at any time.
3. 4.3. Access to the Services
   

   We may, from time to time, restrict access to certain features, parts or content of the Services, or even all the Services, to users who have registered with us. In particular, we reserve the right to disable your account, at any time, if in our opinion you have failed to comply with any of the provisions of these terms or if any details you provide for the purposes of registering as a user prove to be false.

   We cannot guarantee the continuous, uninterrupted or error-free operability of the Service. There may be times when certain features, parts or content of the Site, or the entire Site, become unavailable (whether on a scheduled or unscheduled basis) or are modified, suspended or withdrawn by us, in our sole discretion. We will use our reasonable efforts to provide you notice when the Site and/or Service is to be unavailable or when we are modifying, suspending or withdrawing the Services but in some instances particularly where there is a security, or data breach threat or we are required by law, this may not be possible. We will give you notice if we decide to terminate provision of the Services on any Application or the Website.

4. 4.4. Service suspension and termination
   

   We may, from time to time, with or without prior notice, temporarily suspend the operation of any Service and/or the Site (in whole or in part) for repair or maintenance work or in order to update or upgrade any contents, features or functionality.

   These terms will continue to apply until terminated by either party. We may, with or without prior notice, terminate any contract between you and us (“Contract”) or suspend and/or terminate any Service and/or your use of your account in the event that you have breached any of these terms.

   If you have breached these terms, we may take such action as we deem appropriate. Such a breach by you may result in our taking, with or without notice, all or any of the following actions: issue of a warning to you; immediate, temporary or permanent withdrawal of your right to use any Service; legal proceedings against you for reimbursement of all recoverable loss and damage resulting from the breach; and/or disclosure of all relevant information to law enforcement authorities as we reasonably feel is necessary.

   The responses described above are not limited, and we may take any other action we deem appropriate.

   Upon termination of any Contract or Service or your account, for any reason: all rights granted to you under these terms will immediately cease; we will delete any information we hold regarding your Connected Accounts (including Connected Account Security Credentials); and you must promptly discontinue all use of the Service.

   You may terminate your account at any time, but you must notify us if you wish to do so (see Contacting us).

5. 4.5. Exclusions of our liability
   
   • i) Nothing in these terms and conditions excludes or limits our liability for death or personal injury caused by our negligence or for our fraud or excludes or limits our duties or any liability under the Financial Services and Markets Act 2000, as amended, (“FSMA”) or any conduct of business rules developed pursuant to FSMA.

   • ii) Subject to the paragraph immediately above, we do not accept any responsibility or liability for any loss or damage you may incur:

     • if any information, content, material or data you provide on the Site is not correct, complete and accurate, or if it is misleading, or if you fail to disclose all relevant facts;
     • in the event that you Allocation of cash does not meet your requirements or is not suitable for you;
     • in the event that any Product you apply for does not meet your requirements or is not suitable for you;
     • in connection with the accuracy or content of any reviews of products or services displayed on our Site or on any other Website that you may access via our Site;
     • for any acts, omissions, errors or defaults of any third party in connection with that product or service;
     • which are indirect or not foreseeable by us when you accessed or used the Site;
     • arising from an inability to access the Site, from any use of the Site or from reliance on the data transmitted using the Site where such losses or damages are caused by any event beyond our reasonable control including as a result of the nature of electronic transmission of data over the internet;
     • in connection with any act, omission, error or default by any investment fund or ISA provider or any other third party in the provision of any product or service, or the execution of, or any investment made by you;
   • iii) We do not give any warranty that the Site are free from viruses or anything else which may have a harmful effect on any technology.

• i) If you are unhappy with our service for any reason please contact us via email.

• ii) We will aim to send you an acknowledgement of your complaint within 72 hours and to resolve it as soon as possible. After we have had an opportunity to investigate your concerns, we will issue you with a final response.

  If you’re not satisfied with our response you may have the right to refer your case to the Ombudsman or the Information Commissioner:

  • Financial Ombudsman Service at Exchange Tower, Harbour Exchange, London, E14 9SR; telephone: 0800 023 4 567; email:enquiries@financial-ombudsman.org.uk; Website http://www.financial-ombudsman.org.uk/ (if your complaint relates to financial services products); or
  • Ombudsman Service at Ombudsman Services: Energy, PO Box 966, Warrington, WA4 9DF; Telephone: 0330 440 1624; email: osenquiries@os-energy.org; Website: www.ombudsman-services.org/energy (if your complaint relates to our energy services).
  • Information Commissioner’s Office: Telephone: 0303 123 1113; Website https://ico.org.uk/concerns/ (if your complaint relates to how we have handled your personal information.
• iiI) If you are unhappy with any product or service you have obtained from a third party or have any complaint regarding any third party, you should address your complaint directly to that third party. If you require their contact details, please contact our Customer Services Team who will be happy to assist.

• i) If any provision of these Terms of Use is held to be unlawful, invalid or unenforceable, that provision shall be deemed deleted from these Terms of Use and the validity and enforceability of the remaining provisions of these Terms of Use shall not be affected.
• ii) These Terms of Use, together with our Privacy Policy and Cookies Policy, constitute the entire agreement between you and us relating to your access to and use of the Site and supersede any prior agreements (including any previous terms of use of the Site).
• iii) No failure or delay by us in exercising any right under these Terms of Use will operate as a waiver of that right nor will any single or partial exercise by us of any right preclude any further exercise of any right.
• iv) These Terms of Use and your access to and use of the Site shall be governed by and interpreted in accordance with English law.
• v) Each of you and us submits to the exclusive jurisdiction of the courts of England and Wales in connection with these Terms of Use and your access to and use of the Site (including any claims or disputes).