MyBudget Terms and Conditions

Last update 08/09/2020

1. Who are we?

Where we say “we”, “us” or “our” we mean Business Finance Technology Group Limited, trading as OpenWrks, a company registered in England and Wales with company number 09422433 whose registered office address is at 45 Wollaton Street, Nottingham, NG1 5FW.

We are authorised and regulated by the Financial Conduct Authority (the “FCA”) under firm reference number 709589. You can check our registration on the Financial Services register by visiting register.fca.org.uk or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082. We are authorised by the FCA to provide Account Information Services, Credit Information Services and Credit Broking. We’ll let you know promptly if at any time our authorisation is amended, removed or suspended.

We are also registered as a data controller with the Information Commissioner’s Office under registration number ZA099506. You can check our registration on the Data Protection Public Register by visiting ico.org.uk/esdwebpages/search.

When we say “you” or “your” in these terms and conditions, we mean you – the person who created an account and agreed to these terms and conditions, our Privacy Policy (which is provided along with these terms) and our Acceptable Use Policy (section 16) or the person who is in the process of creating an account and considering these Terms.

You have been introduced to us by another company in connection with a service they are providing to you. Although another company has you introduced you to us, it is important that you read and understand these Terms fully because we provide a different service to the one provided to you by your introducing company. You agree to abide by our Terms once you click the “I accept” button.

2. What do we do?

We provide a free online service to help you understand your income, spending and affordability by helping you build a budget.

3. How do we get paid?

You do not and will never have to pay us for our Services. We make our money by charging a fee to the company who has introduced you to us for the purpose of you building a budget to understand your affordability.

There may be times in the future where we bring out new products and services that might attract a charge, but we will let you know when a charge would apply, and you will not have to choose those products or services if you do not want to pay for them.

4. How can you get access to our service?

When you create an account on our platform you will be asked to confirm your acceptance to these terms and conditions.

By creating an account, you confirm that you:

  • are over 18 years old;
  • live in the United Kingdom;
  • are a natural person accessing our Services for your personal use (you may not use our Services for commercial or business use); and
  • are accessing our Services on your own behalf.

You may only use our Services if you meet the above requirements.

We may refuse to provide you with Services, or stop you from accessing our Services, if we suspect that you are accessing or trying to access our Services for fraudulent or other unlawful purpose. Examples of when we might do this could include if:

  • we find out or have reason to believe you are breaching, or have breached, these terms and conditions (for example, if you are using the Services for business use or on behalf of someone else);
  • we decide to stop offering a Service you are using;
  • we think your use of our Services is unlawful or you breach our Acceptable Use Policy; or
  • your initial identity verification check has been unsuccessful and we have not been able to verify your identity.

5. Our Services in more detail

We aim to help you understand your affordability based on your income and expenditure. We do this by offering:

  • what we think is an easy to understand budget where you can see your debts, your income and your expenditure and an estimated amount of what you have left after paying your bills (your “Budget”);
  • useful advice and information on how you can stay on top of your finances and solutions which may enable you to take control of your money; and
  • to point you in the direction of free specialist advice where you need further support.

Your budget

In order to give you a picture of your income, spending and how much you may be able to afford, we will build your Budget. To do this, we may need access to:

  • your credit report and credit score from credit reference agencies; and
  • financial information from your bank.

Credit reference agencies

By agreeing to these terms and conditions you agree that we may obtain information from your credit report from credit reference agencies once a month on your behalf acting as your authorised agent and representative. This means that we may obtain this information as if we were you asking the credit reference agencies yourself.

We will retrieve this information for you free of charge by conducting a “soft credit search” of your credit history filed with the credit reference agencies. A “soft credit search” is a search on your credit file which cannot be seen by lenders, so it will not affect their decision on whether to lend to you or not. Carrying out a soft credit searching (“soft-searching”) allows us to see what your credit score is without affecting your credit score.

By using our Services, you agree that we may soft-search your records and, where applicable, those of your financial associates (for example, anyone you have a mortgage or joint loan with):

  • at the point of registration with us in connection with verifying your identity; and
  • on a monthly basis.

Soft-searching is a core aspect of our Services. We need to have the ability to do this to provide you with your Budget. You may opt-out of soft-searching at any time without penalty or charge by terminating your account via the ‘My Account’ section on our platform, but please note this means you may no longer have access to our Services.

Your financial information

We need access to financial information from your bank accounts to be able to build an accurate picture of your income and expenditure. The easiest way to do this to share your financial information with us securely and directly from your bank account using our open banking service, the terms and conditions for this service can be found here openwrks.com/terms-and-conditions.

6. Amending these Terms, website and our Services

We may amend these Terms, our website, apps and our Services at any time. Before we implement changes to our terms and conditions that affect your rights and obligations, we will give you at least fourteen (14) days’ notice and provide you with a description or a copy of the changes. If you do not wish to accept any such proposed changes then you may terminate these terms and conditions in accordance with clause 12 below. Your continued use of our Services will mean that you accept any such changes in our terms and conditions.

7. How do we use your data?

We will use data you provide or make available to us only for the purposes set out in these terms and conditions and our Privacy Policy.

For instance, we:

  • will hold your details and records on our systems and make this information available to you on our website or apps;
  • will undertake analysis and profiling of your information and, where applicable, your financial associates' information (and any other information provided by you or on your behalf);
  • may make tools available to you so you can analyse your own information (this is to assist you in being better informed about your financial position, to enable you to manage your credit position, to facilitate you in repaying your debt and to inform you of credit products that are likely to be suited to your circumstances based on the information we collect about you through our website, apps and your mobile device(s));
  • may use your information (and, where applicable, that of your financial associates) to identify whether you may benefit from additional guidance concerning your financial position, steps you can take to improve your position and provide tips as to how you can manage your debt and creditors;
  • may also use your information (and any information provided by you or on your behalf) to conduct affordability testing, which is a method used to assess how much you can afford to repay over a specified period taking into consideration your income and expenditure;
  • may also use your details to come up with recommended payment plans based on your income and expenditure and other details you provide us;
  • may share your information with third party service providers, such as credit reference agencies, financial services providers and other advertisers, as well as your creditors or our partners, in accordance with our Privacy Policy and your account's privacy settings; and
  • may use your anonymised data for analytics to improve our services i.e. using payments data to improve categorisation.

8. Accuracy and non-reliance on information

Some of the information we display is based on information received from third parties (including your credit report and financial information from your bank) and we do not have the ability to change this. We are not responsible for the accuracy of such information or for your reliance on that information. If you believe any information displayed by us may be incorrect, please let us know as soon as possible by contacting [email protected].

If you believe anything regarding your credit information is incorrect, please contact the relevant credit reference agencies directly.

DISCLAIMERS - IMPORTANT INFORMATION FOR YOUR ATTENTION:

Although the functionality of our website and apps should always work, we cannot guarantee that they will always be available due to maintenance or updates to our website and/or apps. Furthermore, there are certain circumstances outside of our control which may result in the Services being unavailable (for example, if the Microsoft servers or your banks’ servers fail). We will use our reasonable efforts to ensure content on our apps and websites are up-to-date and accurate, but we cannot guarantee this. As such, we cannot be liable for any loss or damage that results from any of the above scenarios.

9. Intellectual Property Rights

We, or our licensors, own all intellectual property rights in our website, apps and the material published on them. All of the content on our website and apps is subject to copyright with all rights reserved.

All images, trademarks and brands displayed on our website or apps are protected by intellectual property laws and may not be reproduced or appropriated in any manner without permission of their respective owners.

You must not:

  • remove any acknowledgement that we (or any of our contributors) are the author of any website content or any content we provide to you as part of the Services;
  • remove any disclaimers associated with the content;
  • modify, adapt, copy, download or post material from our website or apps nor store any part of our website or apps in any other website or app or include it in any public or private electronic retrieval system; or
  • use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text or explanation.

You may download, print or screen grab content from our website or apps for your personal use and information only, provided that you adhere to the restrictions noted above. You further acknowledge and agree that you:

  • are downloading such material at your own risk and discretion;
  • are solely responsible for any damage to your computer system or device or loss of data that results from the download of any such material; and
  • must, at our option, return, destroy or procure the deletion of any copies of the materials you have made if you are in breach of these terms and conditions.

10. License

By agreeing to these terms and conditions you hereby grant a licence to us to use any information, data, materials or other content (“Content”) you provide to us through our website or apps, or that we obtain on your behalf as part of the Services we provide (including your credit information). You further agree that we can use, modify, display, distribute and create new material using the Content so that we may provide our Services to you, and for any other purposes set out in these terms and conditions or our Privacy Policy.

By submitting the Content, you confirm and agree that the owner of that Content has expressly agreed that, without any particular time limit, and without the payment of any fees, we may use the Content for the purposes set out in these terms and conditions.

11. Limitation of our liability

Please read this clause 11 carefully, as some of the terms exclude or limit our liability for any losses suffered by you in connection with your use of our Services.

Nothing in these terms and conditions limits our liability for:

  • death or personal injury arising from our negligence; or
  • our fraud or fraudulent misrepresentation; or
  • any duties or liabilities that we owe to you under the Financial Services and Markets Act 2000 (as amended) or the rules of the Financial Conduct Authority; or
  • any other liability that cannot be excluded or limited under applicable law.

To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to our website and apps, any content on them or Services accessed through our website or apps, whether express or implied.

We will not be liable to you or any third party for any loss, damage or cost suffered or incurred, whether in contract, tort (including negligence), breach of statutory duty or otherwise, even if foreseeable, arising out of or in connection with:

  • use of, inability to use or unavailability of, our website (or any part of it), websites linked to it, our apps or our Services;
  • use of any products, data, information or services accessed or obtained or messages received or transactions entered into, through or from the services obtained or accessed through our website or apps including use of or reliance on any content displayed on or made available through our website or apps;
  • unauthorised access to or alteration of your transmissions or data;
  • any inaccuracy or incompleteness of any information received by you or by us through our website or apps or as part of our Services;
  • the timeliness, accuracy, deletion, non-delivery, failure to receive or store or failure to update any user information, communications or personalisation settings;
  • any products or services provided by any third parties including our partners as these products are governed by separate terms and conditions of supply which we have no control over; or
  • any distributed denial-of-service attacks, computer viruses, Trojan horses, worms, software bombs or other damaging items or software you or any third party is exposed to as a result of your use of our website or apps.

You agree that:

  • we are not responsible or liable for any loss, damage or cost you may suffer or incur in connection with any products or services provided by any third parties including our partners, or the terms and conditions applying to any contract you enter into with any third party in relation to any product or services, or for any acts, omissions, errors or defaults of any third party in connection with any product or services or the applicable terms and conditions;
  • it is your responsibility to seek independent advice or otherwise satisfy yourself that you wish to apply for, take out, cancel, exchange or request a change to a product or service (including any financial product or services such as credit) before doing so;
  • downloading content from our website or our apps is at your own risk;
  • we will not be liable to you with respect to you failing to obtain any of the products or Services or suggested Debt Solutions matched to you or advertised on our website or apps;
  • you are responsible for protecting your computer systems and other devices from exposure to viruses by the use of anti-virus software, firewalls and any other technical measures that are reasonably necessary to protect your computer systems and other devices from such matters;
  • as we do not charge you a fee for access to and use of our website or our Services, our total aggregate liability for any losses and/or damage suffered by you shall be limited to £250; and
  • you have considered our liability limit of £250 described above, sought legal advice if needed and conclude that such a limit is a reasonable amount given the nature of the Services not constituting financial advice.

12. Legal status, term and termination of these Terms

You understand that these Terms and any other consents or authorisations you agree to in connection with using our Services will be a legally binding agreement between you and us.

These Terms shall commence from the date you create your account on our website or apps and will continue for as long as you use our Services or have an account on our website or apps.

We may terminate these Terms and your use of our Services, website, apps or any products or Services contained in, or provided or obtained through our website or apps (i) for any reason and with no liability to you by providing you with at least thirty (30) days’ prior notice; or (ii) immediately without prior notice. If there are serious grounds for doing so (noting that we will provide you with notice after termination should we terminate on these grounds).

If you no longer wish to receive our Services, you can close and delete your account by contacting us and asking us to close your account. If you do this, you will terminate these Terms and you will not be able to access the information we hold about you through our website or apps.

If you withdraw consent to the processing of, or otherwise request that we stop processing, your personal information, we may suspend or terminate your access to our website, apps and the associated services without any liability to you. We may keep records or data derived from your personal information in accordance with our Privacy Policy.

13. General

The headings used in these Terms are for convenience only and shall not affect their interpretation.

In these Terms, unless specified otherwise, use of the singular includes the plural, use of any gender is deemed to include every gender and any reference to a person includes a corporation, a partnership and any other body or entity, and vice versa.

Use of the words, includes or including or similar words or phrases means without limitation and the use of these or similar words or phrases shall not limit the meaning of the general words.

We shall not be liable for any delay or failure to provide our Services or perform any obligation under these Terms if the delay or failure is caused by circumstances beyond our reasonable control.

Nothing in these Terms is intended to confer on any person any right to enforce any term of these Terms which that person would not have had but for the Contracts (Rights of Third Parties) Act 1999.

Each of the provisions of these Terms (or part of any provision) is severable. If any such provision is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction that shall not affect the legality, validity or enforceability of the other provisions of these Terms. The provision itself shall apply with the minimum modifications necessary to make it legal, valid and enforceable.

No delay or omission by us or you in exercising any right, power or remedy provided by law or under these Terms shall affect that right, power or remedy; operate as a waiver of it; or operate as an affirmation of these Terms. You may not assign any of your rights or obligations under these Terms.

These Terms constitute the whole agreement and understanding between you and us in relation to the use of our Services. Except in case of fraud, all previous agreements, understandings, undertakings, representations, warranties, promises and arrangements between you and us relating to the subject matter of these Terms or your use of our website, apps or our Services are superseded, except as otherwise expressly stated in these Terms.

By using our website, apps or our Services you explicitly consent and agree to the processing of your personal information and our use of cookies in accordance with them.

You agree that any notices and other communication may be given by us by email or posted on our website and this will comply with any legal requirement for such communications to be in writing. You also agree that any notice or other communication made in such manner will be deemed received by you 24 hours after email or posting.

14. Applicable law and disputes

These Terms and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law and shall be subject to the non-exclusive jurisdiction of the English courts.

15. How to contact us

We are here to help, so if you have any questions about our feedback on our Terms or wish to make a complaint about our Services, please get in touch with us by emailing [email protected]. If the question or complaint relates to information we have obtained from a Credit Reference Agency or other third party service provider, we may refer your question or complaint to them if we consider it appropriate.

If you have made a complaint about our Services and we have provided a final response which is not to your satisfaction or you have not received a response within eight weeks of making your complaint, you can ask the Financial Ombudsman Service to investigate. The contact details for the Financial Ombudsman Service can be found here financial-ombudsman.org.uk/.

16. Our Acceptable Use Policy

When you’re using our Services, you must not do any of the following things. If you do or if we have reason to believe you either have done or will do, we may refuse to provide Services to you temporarily or permanently or we may take other action against you (including legal action).

Some of the actions listed below are unlawful. Where this is the case (or we believe it may be the case), we may disclose your identity, your activities and other information we hold about you to law enforcement agencies.

You must not, and you must not allow another person to, use our website or apps (including any content or materials on them) or our Services:

  • in any way that does not comply with any applicable local, national or international law or regulation;
  • in any way that is deceiving or fraudulent, or has any fraudulent purpose or effect;
  • to access or interfere with another person’s account or information, impersonate another person, or create or use a false identity or email address;
  • for your own or another person’s business purposes;
  • to make any unsolicited or unauthorised communications, including of advertising or promotional material;
  • to obtain or attempt to obtain unauthorised access to or interfere with, damage or disrupt any part of our website, any computer systems, equipment, software or networks on or through which our website is stored or operated;
  • to modify, adapt, decipher, disassemble or reverse engineer any of the software comprised in or in any way making up a part of our website or Services provided by our website;
  • to scrape, reproduce, duplicate, copy, modify, distribute, publish, resell or transmit any element comprised in our website, including any software comprised in it, the content or the Services provided through it;
  • to use any technology or processes of any kind to access, acquire, copy, monitor, navigate or search our website or any portion of it (including the use of data mining, robots or similar data gathering and extraction tools);
  • in any way that is not authorised by us or is detrimental to us or our third party service providers.

You must not, and you must not allow another person to:

  • knowingly transmit any data, send or upload any material that is corrupt or contains viruses, Trojan horses, works, logic-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware or perform any act that would cause our website to become unavailable for use by others (including via any form of denial-of-service attack);
  • access without authority, interfere with, damage, or disrupt any part of our website, any software, the server or other equipment or network used in the provision of our website (including where owned or used by any third party).

We may monitor your use of our Services and monitor your activity for security purposes.

You must fully cooperate with us where any law enforcement authorities, regulators or court order requests or directs us to disclose the identity or locate anyone posting any material or using our website or our Services in breach of our Acceptable Use Policy.

When posting any communication or content on or via our website or app it must:

  • accurate (where they state facts);
  • genuinely held (where they state opinions);
  • with applicable law in the UK and in any country from which they are posted;
  • contain material which is defamatory of any person;
  • contain any material which is obscene, offensive, hateful or inflammatory;
  • promote sexually explicit material, violence or any illegal activity;
  • promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age;
  • infringe any copyright, database right, trade mark or any other intellectual property right of any other person;
  • be likely to deceive any person;
  • be made in breach of any legal duty owed to a third party (for example be confidential information);
  • be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety;
  • be likely to harass, upset, embarrass, alarm or annoy any other person;
  • be used to impersonate any person, or to misrepresent your identity or affiliation with any person;
  • give the impression that they emanate from us, if this is not the case; and
  • advocate, promote or assist any unlawful act including copyright infringement or computer misuse.

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