Terms and Conditions for Settle

Version 2.1 – 22.09.2022

1. About the service

2. Agreement

3. Use of Settle

4. Pricing

5. Transactions

6. Your responsibility

7. Electronic communication and contact

8. Intellectual Property and End User License

9. Breach and termination

10. Liability, indemnity and release

11. Warranties

12. General terms

This Agreement will be valid for all users of Settle as of 22 September 2022.

1. About the service

Settle is a financial service ( referred to as “Settle” or “Service“) provided by Settle Group AS with its registered address at Apotekergata 10, 0180, Oslo, Norway, company No. 995 073 064, ( referred to as”SG”, “Settle Group“, “we” or “us“) which can be accessed and used by installing the official Settle application ( referred to as “Application” or “App“) on supported mobile devices. All currently available features of Settle can be found at www.settle.eu (“Website”). Note that Settle may have different features and fees depending on the jurisdiction you reside in(“Home Country“) and where you are located when using the Service.

2. Agreement

2.1. The agreement and parties

This Agreement consists of the terms and conditions stated herein, including any other document or agreement referenced herein, including our Privacy Policy and Acceptable Use Policy (collectively defined as the “Agreement“). In addition to the terms of this Agreement, relevant prevailing statutory provisions of Norwegian law and the provisions of law of the Home Country. The parties to the Agreement are you, as a customer of Settle Group (“Settle User“) and Settle Group AS as the provider of the Service. You agree and acknowledge that you have read this Agreement prior to using Settle and are legally bound by this Agreement as a Settle User.

2.2. What is required to use Settle?

All of the terms and conditions stated below must be met in order for you to use Settle:

  • You must have a mobile phone to which you can download and install the Application
  • You must have a valid mobile phone number issued in your Home Country;
  • If you are under the age of 16 and wish to enter into this Agreement, you must obtain the consent of your parents or guardians and they must set up the Settle Account for you. You can only use Settle to transact with funds you have at your own disposal; other special terms may apply;
  • You must provide us with consent to access funds that you wish to use for the execution of transactions. This includes funds in bank accounts you have at your disposal, payment cards issued in your name, prepaid accounts or credit sources (collectively called “Funding Source“);
  • You must have familiarized yourself with and accepted this Agreement
  • You must complete the enrollment resulting in an account being created for you with the Service (“Settle Account”); and
  • Settle Group must accept you as a customer, subject to performing Customer Control and any other necessary verification or compliance checks.

3. Use of Settle

3.1. What can you use Settle for?

Settle’s Services and Application enable you to send and receive money with individuals and Businesses in a variety of ways. You can link Funding Sources, view balance, move money, exchange currency, share your identity and data, search and find Businesses, explore special offers and payout any funds received or stored in your Settle Account to your bank account. The features you have access to will depend on your Home Country, age, if your identity is verified or not, which Funding Source you have connected to the Service, who you interact with on the Service, which mobile phone you use and what risk the action you undertake is considered to have according to Settle Group.

3.2. Registration, identification and Limits

Before you can use Settle, you must download and install the App, create a Settle Account, verify your phone number and, and when required, verify your identity. On our Website you will find the current transaction thresholds and limits (“Limits”). Depending on your Home Country and other conditions used to determine risk, you may find that payments cannot be made even if the payment amount or request to receive is below or within the Limits. The Limits are adjusted dynamically to increase security and reduce the risk of any illegal activity.

If you send money to a mobile number that is not linked to a Settle User, we will send an SMS invitation to that number with the payment information. The recipient has a limited period of time (typically 48 hours) to create a Settle Account in order to accept the payment. If the recipient does not create a Settle Account, the transaction is reversed and the funds are automatically returned to you.

3.3. Balance in Settle

In the Application, you can see how much money you have available on the various Funding Sources you have connected to the Service (”Balance”). Balance on your Settle Accounts is automatically displayed. Balance on your bank accounts, credit accounts or any other applicable Funding Source is displayed assuming you have granted us access to the Funding Source by agreeing that we may access the balance and transaction history as well as charging the Funding Source for payments where applicable and that we have technical access to this information and features with the Funding Source operator. Such access requires:

  • that we have an agreement with your Funding Source operator and / or;
  • that we can connect to the Funding Source operator through interfaces made available under applicable law and regulation (“Open Banking”), and in both cases;
  • that you are authenticated in a way that such information and payment instructions can be retrieved, executed and displayed in the Service.

4. Pricing

Settle can charge you for the use of the Service. Settle may have different fees depending on your Home Country and where you are located when using the Service. Applicable localized Pricing can be found on our Website. When executing a payment, or using any other paid feature of the Service, you will be informed of the applicable fee in the Application. By making the payment or using a feature of the Service, you consent to pay the declared fee. If you subscribe to an ongoing or continuous service from Settle Group, you will be notified in advance of any fee change. Note that payments made with a Funding Source connected to Settle provided by a third party (such as a payment card, credit or bank account) may incur additional costs as agreed between You and the Funding Source provider.

5. Transactions

When you create a payment order in Settle, you authorise Settle Group to carry out the payment on your behalf. Equally, when you receive a payment request, and you approve this, you authorise Settle Group to carry out the payment on your behalf. By downloading and using Settle to make payments you agree that Settle may charge your Funding Source an amount equivalent to the payments or payments you make plus applicable fees either in real-time when payments are made or at a time in the future to be determined by Settle.

5.1. Domestic and International Payments

With Settle you may send and receive money to or from individuals or Businesses. If the sender and recipient belong to the same Home Country, the payment is defined as domestic (“Domestic Payment”). If the sender and recipient belong to different countries, the payment is defined as international (“International Payment”).

5.2. Currency exchange

When performing a transaction you choose what currency to send. If the currency you choose to send is different from the currency of the Funding Source you have chosen to charge for the transaction, Settle will offer you to execute the transaction by performing a currency exchange (“Currency Exchange”). A Currency Exchange entails buying the currency you want to send at an exchange rate and transaction fee offered by Settle, and that Settle will be charging the selected Funding Source the total transaction amount, including any applicable Currency Exchange cost and fees. You may perform Currency Exchange based transactions on both Domestic and International Payments, paying to individuals or Businesses, including performing transactions to yourself.

5.3. Domestic payments

Payments to individuals are made by specifying the recipient’s mobile number, the amount you wish to pay, and the Funding Source that you wish to charge, or by accepting a payment request. You must ensure that the mobile number of the recipient is correct. When you use Settle to pay an individual, your name, phone number and any messages you send to the recipient may be shown to them. Your name and mobile number may also be displayed on bank statements and transaction overviews as provided by your Funding Source operator and by the Funding Source operator of the recipient.

Payments to entities other than individuals ( “Businesses“) are performed by the recipient being set in one of the following ways:

  • You search for the name of the Business in the Application;
  • You select the Business from a list in the Application;
  • You scan the QR code of the Business with the Application;
  • You click the Settle button presented by the Business; or
  • The Business sends a payment request to your mobile number.

You must check that the Business and the amount are correct before performing a payment or approving a payment request. When you pay with Settle to a Business, you are anonymous, unless you choose to share additional data. The payment is given a unique transaction ID that is shared with the Business along with any messages you send to the Business, including if applicable, what goods or services you have ordered.

5.4. International Payments

Performing International Payments is the same as performing a Domestic Payment with the following exceptions:

  • When paying to an individual you need to specify the recipients mobile phone number including the correct country code;
  • When paying to an individual you need to choose what currency the recipient will receive and accept the fee for the Currency Exchange where applicable; and
  • When paying to a Business you must accept to pay in the currency that is accepted by the Business and accept the fee for the Currency Exchange where applicable.

5.5. Recurring Payments

Businesses may offer that you pay repeatedly for their goods or services based on an agreement between you and the Business ( “Recurring Payments“). When agreeing to Recurring Payments you will be prompted in the Application to accept the terms set forth by the Business, approving the Business to charge you an agreed amount, or within a range, at an agreed or unrestricted interval without the need for additional approval from you. Settle Group does not play any role in the agreement between you and the Business. Overview of Recurring Payments that you have agreed to, the ability to edit such permissions and withdraw your consent to further Recurring Payments may be available in the Application, if the Business has agreed to support this feature. Settle Group is not responsible for any stopped, missing or delayed delivery of goods or services you are supposed to pay for using Recurring Payments. This also applies if there is a delay in the Service, resulting in payments due not having been performed at the agreed time.

5.6. Payment request

With Settle, you can request a payment from other Settle users ( “Payment Request“). Abuse of access to Payment Requests will be considered a Material Breach of this Agreement, which entitles us to immediately terminate or suspend your access to Settle. In the Application you can block other Settle users from sending you Payment Requests and other Settle users may block you.

5.7. Rejection of payment orders

We may reject a payment order if it does not comply with the applicable law, or contractual terms for executing the payment order are not met. For example, we will reject a payment order in the event of a lack of funds in the selected Funding Source, and in cases of suspicion of actual or attempted abuse, fraud or money laundering. Users are not permitted to use Settle for any activity that is outside of or prohibited under the Acceptable Use Policy, as defined by Settle Group at any given time on the Website. The limitations in the Acceptable Use Policy come in addition to the limitations set forth in Norwegian law, the law of your Home Country, and the law in the Home Country of the recipient of a payment, when applicable.. In the event that your payment order is rejected but can be legally rectified, you will receive information that your payment order has been declined and what you can do to correct the matter so that the payment order may be executed.

5.8. Refunds

If you pay for a product or service with Settle but you have an agreement with the Business, for the purchase to be refunded, the amount may be returned by the Business to your Settle Account (“Refund”). Refunds are limited to the amount that was originally paid, and in any case in accordance with what the Business agrees to refund. For the avoidance of doubt, Settle Group is not responsible for providing Refunds for products or services that you have not received, are unhappy with or in any other way wish to return or make a warranty claim for. These issues are regulated between you and the Business or individual from whom you purchased products or services.

5.9. Payment transaction errors

Once you have made a payment order, confirmed a payment request or such payment request is automatically confirmed as part of a Recurring Payment, the payment is final and you cannot revoke it. When you initiate or make a payment in Settle, you will receive a payment confirmation or an error message for the payment in the Application. If you believe that an executed payment order was not approved (authorized) by you in accordance with this Agreement, you must exercise the right of appeal described in the section 5.10. below. In sections 5.8.and 5.9. ”Error” means a payment made with Settle which was ordered due to a mistake by you or another user of Settle. If you received a Settle payment due to an Error, we may correct this Error by charging your Funding Source by the end of the third (3rd) business day after the Error occurred. In other respects, improper credentials or charges due to Settle’s own circumstances are regulated by the rules in sections 31 and 32 of the Norwegian Financial Contracts Act (see an English copy of the Act here).

5.10. Responsibility for payment orders, purchase of goods and services, and payment of bills

We will instantaneously process payments in accordance with the orders you have made in Settle. If there is a technical failure in connection with the execution of an order, we shall correct the technical failure and cover your loss with the limitations that follow from sections 40, 41 and 42 of the Norwegian Financial Contracts Act and any mandatory provisions or laws that may apply. We cannot be held liable for losses due to circumstances beyond our control and which we could not predict or avoid the consequences of. Technical failures or delays caused by telecommunications network failures or unforeseen failures of other third party systems necessary for Settle to operate, will always be considered as beyond our control.

Settle is liable for the direct loss from transactions executed by Settle on your behalf if such transactions were not approved (authorized) by you, if the conditions for such liability are fulfilled pursuant to section 35 of the Norwegian Financial Contracts Act and any mandatory provisions or laws that may apply.

We are not responsible for any Errors you may have made when you place a payment order with Settle. We are not responsible for the entry of the wrong recipient, wrong phone number, wrong amount, or similar Errors.

If you believe that we are responsible for an incorrect payment order, you must contact us and file a Complaint in accordance with section 5.10. of this Agreement. If you believe that we are responsible for an incorrect Payment Request you received via Settle, you must first contact the issuer of this Payment Request directly.

The payment confirmation from Settle is not a purchase receipt. When you buy goods or services, it is the Business who is responsible for any faults and defects thereof, not us. If you have purchased a product or service and paid with Settle, the Business is responsible for giving you a valid receipt for the purchase. We assume no responsibility for the legitimacy of a Business, fundraisers or charities although they choose to accept or request payments with Settle.

5.11. Unauthorized payments, complaints and reversal of amounts

If you believe that Settle has made a payment that you have not authorized, you must notify us on the Application or through our Website and we will attempt to resolve the issue (”Complaint”).

Settle will attempt to resolve your Complaint and will apply rules pursuant to sections 34-37 of the Norwegian Financial Contracts Act.

These rules can be summarized as follows:

  • You must protect codes, passwords and credentials that allow access to Settle (“PIN”).
  • If you become aware that anyone besides yourself has access to the Application, or become aware of, or suspect unauthorized use of the Service you must inform us as soon as possible.
  • If you alleged that there has been an unauthorized payment, then we have to prove that the payment order, or Payment Request as the case may be, was made or approved by you, through the Application, authorized using the PIN,and not the result of a technical failure or otherwise;
  • In certain cases, you may claim a Refund pursuant to section 5.8. of this Agreement. Such a claim must be placed as soon as possible and no later than 13 months after the payment was made;
  • If you demand a Refund, Settle may bring the case before the Finance Services Complaints Board or a court, as applicable;
  • Even if you have not authorized the payment, you may have to cover part of the loss yourself. Your deductible is normally EUR 120 if the PIN code or other personal security element of Settle is used, but can increase to EUR 1,200 if you have been grossly negligent; and
  • If the transaction you made was made intentionally, you must cover the entire loss yourself. This also applies if you have intentionally failed to protect the PIN or other personal security element that provides access to Settle.

If you are granted a payment amount Refund in accordance with the Norwegian Financial Contracts Act, Settle may still claim the money back at a later date, if Settle can prove, at any time, that you in fact authorized the payment in question or acted negligently. If you do not agree with how your Complaint was resolved by Settle Group, you may bring your complaint to the Norwegian Finance Services Complaints Board, or another financial services disputes resolution authority or court, as applicable. Please see general information on complaints in the EEA/EU here.

5.12. Fraud detection and security breach

If we detect or suspect that your Settle Account has been compromised by fraud or a security breach then we will contact you on the mobile telephone number you have provided as soon as practicable to report and resolve the issue/s. We will suspend your Settle Account until we can confirm with you whether or not there has been fraud or a security breach.

5.13. Redemption of electronic money

Electronic money can only be redeemed (paid out) to an IBAN account that has the same beneficiary name as your Settle Account; that means that you can only use a personal IBAN account in your name. Any discrepancies between the beneficiary name of the IBAN account and your Settle Account may cause the payment to fail; in these cases, the payment will be refunded to your Settle Account if refunded to Settle by the receiving bank. If the payment is successfully delivered to the receiving bank but is blocked by them for any reason, it is your responsibility to contact the receiving bank to query the status of the payment. If you request us to conduct an investigation for a failed payment, which is due to your failure to provide true and accurate information (in this case an IBAN account number in your name) or in cases where the payment has failed due to actions taken by an external party to Settle Group, including the recipient bank, for regulatory or compliance reasons related to you, the designated recipient or the transaction, you will be charged an investigation fee of EUR 20, or the equivalent in your local currency.

Redemption of electronic money under the amount of EUR 5 or the equivalent in your local currency may incur a fee according to localised Pricing found on our Website.

6. Your responsibility

6.1. Correct information

You are responsible for ensuring that the information you provide about yourself is complete, accurate and up-to-date. If your information changes, it is your responsibility to update it in the Application. You are responsible for providing Settle with your correct name and surname, address, mobile phone number, date of birth, nationality, bank account and payment card number. You are solely responsible for ensuring that the recipient’s mobile phone number is correct when you pay to an individual and that the Business is the correct recipient when paying to entities.

6.2. Personal code, PIN and security

When you enroll as a Settle User, you must select a personal identification number ( “PIN“) which you will use to access Settle and authorize payments and requests. Your PIN must consist of at least 4 digits, and must not be similar to any other code, PIN or password, such as the one you have associated with your payment card or your mobile device. Settle reserves the right to deny the use of certain alphanumeric combinations for PIN, and we also reserve the right to request that you change your PIN including its length and complexity.

Settle is a service for personal use only, and you may not, under any circumstances, entrust or grant access to your Settle User, Settle Account, PIN or Application to anyone else. This includes Settle Group employees and official Settle staff or representatives. If anyone asks you to provide information that can be used to access your Settle Account, consider this as an attempted fraud, refuse to disclose the information, and report the event to us, via the formal support channels announced on our Website without undue delay.

6.3. Lost or stolen mobile phone

If your mobile phone is stolen, lost, or you suspect unauthorized use of your Settle Account, notify us via the formal support channels announced on our Website as soon as possible. When such notification has been given, we will block your Settle User and ensure access to the Service is restricted until further notice.

6.4. Acceptable use

You must only use Settle in accordance with this Agreement and our Acceptable Use Policy. You cannot use Settle in a way that is in Breach of this Agreement, our Acceptable Use Policy or in a way that contravenes Norwegian law, the law of your Home Country or laws in the country you are located when using the Service.

6.5. Consequences of improper use

Using Settle in Breach or Material Breach of this Agreement (as defined in clause 9) may result in the following actions being taken:

  • your Settle User, access to the Service and associated funds being temporarily suspended;
  • termination of your Settle User pursuant to section 9.3.;
  • you being reported to the police or relevant authorities;
  • you being charged fees in accordance with this Agreement; or
  • Legal action being taken against you.

6.6. Fees for Improper use of Settle

If you Breach this Agreement then you may be liable to pay fees, damages, fines or penalties pursuant to this Agreement and the Norwegian Financial Contracts Act. Your liability to pay may be reduced in accordance with the provisions of section 36 of the Norwegian Financial Contracts Act in the event that Settle is found to have failed to meet the standards set by the Norwegian Financial Supervisory Authority and the unauthorized use is related thereto. You are not liable for any losses incurred after Settle has been notified and your Settle Account is blocked.

6.7. Customer Control

We are obliged by law to carry out customer control, survey and investigate all customers and transactions in an effort to reduce risk and avoid money laundering, terror financing, fraud and criminal use of the Service (“Customer Control”). Such efforts may be manual and automated, and you agree to aid us in such efforts by sharing requested information about yourself, others, and where applicable, your own or others’ use of the Service, including but not limited to information on specific transactions, payees, your relationship with such parties, what the payment is for and whether you have or plan to take a position or enter into a relationship that might categorize you as a politically exposed person. . Note that Customer Control applies to all historical transactions for as long as it’s required by law and survives the termination of this agreement by either party.

6.8. Applicable taxes

It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is solely your responsibility to assess, collect, report and remit the correct taxes to the appropriate authority. We are not responsible for determining whether any taxes apply to your transaction, or for calculating, collecting, reporting or remitting taxes arising from any transaction.

7. Electronic communication and contact

By entering into this Agreement, you agree that the Agreement and any applicable amendments to it may be communicated and entered into electronically. You agree that we may communicate with you directly in the Application and via the electronic communication channels available to us based on the contact information provided by you, such as mobile phone number and email. Email correspondence will be considered written correspondence for the purposes of this Agreement. You can contact us for help and information about the Service via the communication channels made available to you in the Application and on our Website.

8. Intellectual Property and End User License

8.1. Intellectual property

“Settle” and all logos related to the Settle Service are either trademarks or registered trademarks of Settle Group. You may not copy, imitate, modify or use them without our prior written consent. In addition, all page headers, custom graphics, buttons, icons, and scripts are service marks, trademarks, and/or trade dress of Settle. You may not copy, imitate, modify or use them without our prior written consent. All right, title and interest in and to the Settle application, Website, any content thereon, the Settle Service, the technology related to the Settle Service, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of Settle Group.

8.2. End User License

If you are using the Service that Settle Group provides to you as a Settle User, then Settle grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use Settle’s software in accordance with this Agreement. This license grant applies to the software and all updates, upgrades, new versions and replacement software. You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation, access and use requirements contained in all documentation accompanying the Services. If you do not comply with implementation, access and use requirements you will be liable for all resulting damages suffered by you, Settle and third parties. Settle may update or discontinue any software upon notice to you. While Settle may have (1) integrated certain third party materials and technology into any web or other application, including its software, and/or (2) accessed and used certain third party materials and technology to facilitate providing you with the Settle Services, you have not been granted and do not otherwise retain any rights in or to any such third party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software or any third party materials or technology, or otherwise create any derivative works from any of the software or third party materials or technology. You acknowledge that all rights, title and interest to Settle’s software are owned by Settle and any third-party materials integrated therein are owned by Settle’s third party service providers. Any other third-party software application you use as part of Settle’s Services is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that Settle does not own, control nor have any responsibility or liability for any such third party software application you elect to use on any of our websites, software and/or in connection with the Settle Services.

9. Breach and termination

9.1. Breach

If you fail to comply with any part of this Agreement then Settle may determine with absolute discretion that you are in breach of this Agreement (“Breach”). If you are in Breach then Settle will request that you rectify said Breach to our satisfaction.

9.2. Material Breach

If you commit a substantial, repeated or serious Breach then Settle may determine with absolute discretion that you have committed a material breach of this Agreement (“Material Breach”). The following list is a non exhaustive list of actions that we consider a Material Breach:

  • Failure to comply with sections 6.4., 6.7. and 8.2 of this Agreement.

9.3. Duration and termination

The Agreement is in force for as long as we offer Settle and until terminated by us or you pursuant to the terms of this Agreement. We may terminate this Agreement in the following circumstances:

  • At any time with our absolute discretion by providing you with (2) two months’ written notice;
  • If you do not use Settle for a period of (6) six calendar months;
  • If you are in Breach and fail to rectify the Breach to our satisfaction then we may terminate this Agreement immediately without notice; or
  • If you commit a Material Breach then we may terminate this Agreement immediately without notice.

You may terminate this Agreement at any time by providing written electronic notice to Settle Group via the Application, provided that your Settle Account Balance is zero and you have no outstanding claims or liabilities pursuant to this Agreement.

In the event of termination by us we will return any funds stored on your Settle Account(s) to your bank account registered with Settle or another of your bank accounts of your choosing subject to the deductions of any fees, claims or damages payable.

This Agreement will remain in force after you delete the Application from your mobile device. Clauses 6.6., 6.8., 8.1 ,10. and 11. will survive termination of this Agreement and remain enforceable by Settle against you in the event you are liable under said clauses.

10. Liability, indemnity and release

In this section”Settle”,”we” and”us” includes the Affiliates of Settle Group. Our”Affiliates”include each entity that we control, we are controlled by or we are under common control with. Anybody who works for us or our Affiliates or who is authorised to act on our or their behalf includes each of our or their respective directors, officers, employees, agents, joint venturers, service providers and suppliers.

10.1. Indemnity

You must indemnify Settle for actions related to your Settle Account and your use of the Settle Service. Subject to limitations in section 6.6., you agree to defend, indemnify and hold Settle harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of:

  • your Breach or Material Breach of this Agreement;
  • your improper use of the Service;
  • your violation of any law or the rights of a third party; and/or
  • the actions or inactions of any third party to whom you grant permissions to use your Settle User or access our Application, Website, software, systems (including any networks and servers used to provide any of the Settle services) operated by us or on our behalf, or any of the Settle services on your behalf.

10.2. Settle’s liability

Settle’s liability is limited with respect to your Settle User, Settle Account(s) and your use of the Settle services. In no event shall Settle be liable for:

  • direct or indirect lost profits; or
  • any special, incidental or consequential damages (including without limitation damages for loss of data or loss of business),

arising out of or in connection with our Application, Website, software, systems (including any networks and servers used to provide any of the Settle Services) operated by us or on our behalf, any of the Settle Service, or this Agreement (however arising, including negligence), unless and to the extent not prohibited by law.

Our liability to:

  • you; or
  • any third parties,

in any circumstance is limited to the actual amount of direct damages (excluding direct loss of profits), unless and to the extent not prohibited by law.

If you have a dispute with any other Settle User or Business, you release Settle from any and all:

  • claims
  • demands; and
  • damages (actual and consequential),

of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.

10.3. Release

In entering into this release you expressly waive any protections that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favour at the time of agreeing to this release.

You alone (not Settle) are responsible for understanding and complying with any and all laws, rules and regulations of your Home Country that may be applicable to you in connection with your use of our Service (for example, in relation to regulated activity, licensed activity, export or import activity, taxes or foreign currency transactions).

11. Warranties

The Settle services are provided”as-is” and without any representation or warranty, whether express, implied or statutory. Settle specifically disclaims any implied warranties of:

  • title
  • merchantability;
  • fitness for a particular purpose; and,
  • non-infringement.

11.1. Businesses

Settle does not have any control over the products or services provided by Businesses who accept Settle as a payment method, and Settle cannot ensure that a buyer or a seller you are dealing with will actually complete the transaction or is authorised to do so.

11.2. Services and website

Settle does not guarantee continuous, uninterrupted or secure access to any part of the Settle Service. Operation of our Website, software, or systems (including any networks and servers used to provide any of the Settle services) operated by us or on our behalf may be interfered with by numerous factors outside of our control.

11.3. Delays

Settle will make reasonable efforts to ensure that requests for electronic debits and credits involving Funding Sources are processed in a timely manner but Settle makes no representations or warranties regarding the amount of time needed to complete processing because the Settle Service is dependent upon many factors outside of our control, such as delays in banking systems, payment networks and settlement processes of other parties.

11.4. Correspondence

We cannot guarantee the accuracy of information contained in our correspondence, reports, on the Website and given verbally by our directors, officers and staff in all circumstances and contexts, and no reliance should be placed on such information by you. You must check all correspondence between us carefully and tell us as soon as possible if it includes something which appears to you to be wrong or not made in accordance with your instructions.

12. General terms

12.1. Changes to the Agreement

The current terms of this Agreement are available in the Application and on our Website. You will be notified of changes to this Agreement in the Application. If you do not wish to accept changes to the Agreement, you must terminate the Agreement and your use of the Service. If you use Settle after a change to the Agreement has entered into force, the changes are deemed to have been accepted by you. Settle may take action to enforce legal requirements, security requirements or to prevent illegal activity without notice to you. You can contact us at any time and request a copy of the current Agreement.

12.2. Events outside our control

Our obligations under this Agreement, including our obligation to carry out payment orders and settlement, cease temporarily if circumstances arise beyond our control and which we could not reasonably foresee or avoid the consequences of, that render the performance of the Agreement impossible. The same applies to matters that are due to obligations imposed on us pursuant to law.

12.3. Dispute resolution and jurisdiction

This Agreement and the relationship between us is governed by the laws of Norway. This does not affect your mandatory rights under the laws of the Home Country in which you reside, such as your rights as a consumer.

If you bring a claim against us in court, you submit to the non-exclusive jurisdiction of the courts of Norway.

In the event of a dispute in which you disagree with us and we do not resolve the matter to your satisfaction, you may bring the matter to the Norwegian Finance Services Complaints Board via FinKN or to the secretariat of the Finansklagenemnda, Postboks 53, Skøyen 0212 Oslo, or to any other relevant financial services supervisory body in your Home Country. See general information on dispute resolution within the EEA by clicking this link: (Members of FIN-NET by country | European Commission).

12.4. Licenses and supervision

Settle Group AS has a license as an e-money institution that is duly passported to all EU member states. The license is issued by, and Settle Group is under supervision of the Norwegian Financial Supervisory Authority, PO Box 1187 Sentrum, 0107 Oslo, Norway.

12.5. Privacy

Protecting your privacy is very important to us. Please review our Privacy Policy in order to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information in relation to this Agreement and your use of Settle.

12.6. Assignment

You may not transfer or assign any rights or obligations you have under this Agreement without Settle’s prior written consent. Settle may transfer or assign this Agreement or any right or obligation under this Agreement at any time, subject to any mandatory laws and requirements, that may apply.

12.7. Translations and governing language

In the event this Agreement is translated into a language other than English for any purpose, the English version shall in all events prevail and be paramount in the event of any differences, questions or disputes concerning the meaning, form, validity, or interpretation of this Agreement. All of Settle Group’s communication with you regarding this Agreement will be in English unless we, in our absolute discretion, choose to communicate in the language of the Home Country, or unless we are required to communicate in a certain language by virtue of mandatory local laws.