Credit Card Agreement

Credit card agreement regulated by the consumer credit act 1974

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1. Introduction

The agreement is made between you and us. In this credit card agreement, 

“Keebo”, “us”, or “we” means:  Keebo Limited, Second Home, London Fields, 125 – 127 Mare Street, London, E8 3SJ;

“You” or “your” means: the person signing this agreement whose name and address are stated on the application form. 

This agreement will be executed when you confirm your acceptance to it via our mobile application (the “App”). 

If you have any questions on any part of these terms, please contact us via the App or on support@keebo.com.

You can request a copy of your agreement with us at any time while the agreement is in place between you and us.

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2. Your Keebo Account

2.1 Our products and services 

We provide a credit card and account information aggregation services (“Account information services”) via the App.  

We may change or provide new products and/or services over time where we have a valid reason, but we will not materially diminish or remove products and/or services without reasonable notice to you, except where necessitated by a material third-party provider or as required by law. When we make changes to products or services, you may terminate this agreement straightaway by giving us at least 30 days’ notice that you want to end it and repaying us what you owe us.
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2.2 Applying for a Credit Card and Creating a Keebo account‍

When you apply for a Keebo credit card, you will need to create a Keebo account via the App (a “Keebo account”), and you will need to provide certain personal data and connect at least one account that is held with a financial institution or that provides financial data and is linked to, or authorised for use through, your Keebo Account (a “Linked account”). 

Personal data may include your name, contact information, and date of birth, documentary information used to verify your personal data (such as personal identification), any other information you provide to us at application stage or from time to time, and details from Linked Accounts and other information we may request from time to time. 

We may approve or decline your application or grant you provisional access to your Keebo Account while your application is pending additional review. We rely on the accuracy of personal data you provide when you open and maintain your Keebo Account. We may deny applications, interrupt provision of the Account Information Services to you, or suspend or close your Keebo Account for any reason including where personal data is incomplete, inaccurate, or out of date. You will keep personal data current, complete, and accurate in your Keebo Account whether we provide you with full or provisional access.

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2.3. Using our product and services

By registering or applying for a credit card and a Keebo Account, you agree and confirm:

1. all the information you have provided to us and/or the financial institution (where applicable) is accurate and correct and you are the person whose details you have provided;
2. you can enter into a legally binding agreement with us;
3. you will only use the App for the purposes permitted and envisaged by this agreement;
4. you have provided a current address, telephone number and e-mail address and will notify us immediately if your contact details change; and
5. you are at least 18 years of age.

To apply or register for a Keebo Account, you must provide personal information for use in analysing your financial data, including your name, date of birth and email address.

We reserve the right, in our sole discretion, to refuse to provide any products and/or services to you.

When you create a Keebo Account, you will be asked to set a password. You agree to keep your password and Keebo Account information strictly confidential and you must not disclose them to any third party. You agree to protect them in the same way as you would details of your bank account or your bank cards. Any failure to do so will be at your sole risk and expense.

You agree that we are entitled to assume all correspondence, orders, transfers and instructions made by reference to your password and Keebo Account are made by you, and that all correspondence and instructions sent or posted by us via your Keebo Account have been received by you. You agree to inform us immediately (via the App or by e-mail) if you know or suspect that any of your Keebo Account information or password has been compromised or are being misused so that we may suspend your Keebo Account.

We have the right to disable your Keebo Account or password at any time if, in our reasonable opinion, you have failed to comply with any material provisions of this agreement.

You agree to inform us as soon as possible if any information provided by you or contained in your Keebo Account changes and/or if you become aware of any errors with respect to your Keebo Account and/or if you lose access to your Keebo Account for any reason whatsoever.

The App is directed to people residing in the United Kingdom. We do not represent that content or services available on or through the App is appropriate for use or available in other locations.

3. Credit card

3.1. Card basics

What you owe under this agreement: The amount you owe us at any time is made up of:

• the amount of the transactions you have carried out; and
• the interest and any fees and charges we have added to your account balance,

less the repayments you have made.

Your credit limit: Your credit limit is the maximum amount you are allowed to borrow from us under this agreement. You must not let the amount you owe us go over the credit limit. If you do, you must repay the extra immediately. 

We may increase or reduce the credit limit from time to time. If we do, we will notify you of the new limit and give you at least 30 days’ notice of any increase and 60 days’ notice of any decrease. You may notify us that you do not want us to increase your credit limit or ask us to change your credit limit by contacting us on support@keebo.com. Credit is advanced under this agreement when you make a purchase or a cash advance transaction using your Keebo credit card. 

Authorising payments: We can only charge a transaction to your account if you have authorised the transaction. This may be authorised by:

• using the card or security details or both (e.g. inserting your card into a card reader and entering the pin, or using the card details to make an online purchase);
• holding a contactless card in front of a contactless card reader; and/or
• providing a retailer with the card details and giving them permission to take regular payments from your credit card account, for example for a magazine subscription. 

The following terms apply where a transaction has been authorised through a payment initiation service provider (a “PISP”), a service provider who provides an online service by which, at your request, it may instruct us to carry out a payment transaction on your account:

• Immediately after we receive the PISP’s instructions to carry out the transaction, we will provide or make available to the PISP all information on the initiation of the transaction and all information accessible to us regarding the carrying out of the transaction.
• We will treat the instruction in the same way as an instruction received directly from you, unless we have objective reasons for treating it differently.
• We may deny the PISP access to your account on reasonably justified and duly evidenced grounds relating to unauthorised or fraudulent access to your account by the PISP. Unless it would compromise reasonably justified security measures or would be unlawful:

• we will tell you about any denial of access to the PISP using any of the contact details we hold for you; and
• we will tell you before we deny access if possible, or otherwise immediately afterwards.

Contactless payments:  You can use your card for contactless payments up to £100 each. If you use contactless payments for purchases in foreign currency the limit of £100 still applies. This limit is set by Mastercard® and may change. 

Card Issuer: Your credit card is issued by PayrNet Limited pursuant to a license by Mastercard International Inc.

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3.2. How much it costs to use your card 

Interest Rate, Annual Percentage Rate (APR) and Total Amount Payable: Your effective annual interest rate will be either: 

• 29.98% per year (variable) for card purchases and cash advances; or
• 33.97% per year (variable) for card purchases and cash advances,

Subject to your circumstances.

Your effective annual interest rate is a compounding interest rate based on a simple variable rate, which is comprised of a personal rate and the prevailing base rate.

Your APR will be: 29.98% (variable) or 33.97% for card purchases and cash advances.

The APR is provided to help you understand the overall costs to you of borrowing from us, and to compare the cost to you of using this credit card versus other options which may be offered by different providers. 

This is an example of how much you would pay in total (“Total Amount Payable”) if:

• your credit limit is £1,200 and you buy something for this amount with an APR of 29.98%, immediately when your account is opened; 

• you pay for it over 12 months with equal payments, in full and on time;
• you pay the interest you build up alongside your monthly payments, and the final payment you make clears the balance of capital, interest and other charges, if any;
• the APR and charges quoted in this agreement remain the same for the 12 month period;
• no further transactions are made; and
• this agreement remains valid for the period agreed and both you and we fulfil our respective obligations under the terms and by the dates specified in this agreement,

 … then the total amount you would pay back is £1,379.

Interest rates and other charges

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Card purchases: This means where you use your credit card to make a purchase; for example, in a shop, restaurant or online. 

Cash advances: This means any cash transaction where you use your Card or Card number, including but not limited to: 

• The purchase of traveller’s cheques or foreign currency; 
• Cash from a cash machine or obtained over the counter at a bank or cash provider; 
• Any payment made using a money order, electronic money transfer or similar; 
• Any facilities we determine to be similar to the above that we may provide in connection with the use of the Account.

However, please remember that taking out cash using a credit card is expensive compared with taking it out of a current account. 

Transactions in a foreign currency: This means card purchases or cash advances that you make in any currency other than sterling. 

Our fees if you pay late or don’t stick to our agreement: If you miss a payment, or if there’s a problem with collecting your payment, we may charge one or more of the fees below. 

You will be required to pay any fees which fall due as part of your monthly payment. You’ll see them as part of the outstanding balance on your monthly statement and on the Keebo App.

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If we need to apply a fee, we’ll include a notice in your next statement confirming this. 

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Type of fee‍

We may also charge a fee to cover any losses or costs (which aren’t losses or costs set out above) which reasonably incur as a direct result of you breaking this agreement. These include our own administrative costs of dealing with the breach, as well as any costs we have to pay to other people, such as fees charged by a collection agency or a firm of solicitors. 

Explaining interest rates: The effective annual interest rates above are compounding interest rates based on a simple rate.  

Simple rates: Your simple interest rate is what we use to work out how much interest you’ll be charged. It moves in line with the Bank of England Base Rate. When the base rate changes, you’ll see your simple rate change by exactly the same amount. Your “simple rate” is a variable rate comprised of two components – your Personal Rate (which will be either 21.98% or 25.01%) and the prevailing Base Rate (for these purposes this is assumed to be 4.25%).

“Base Rate” means the Bank of England Base Rate that is regularly published by the Bank of England and may change from time to time (or, if the Bank of England Base Rate is no longer published, any replacement rate that we reasonably select as the nearest equivalent rate to apply). The Base Rate element of your simple rate will never be less than 0%.

Compounding interest: We use your simple interest rate to work out the interest we charge you. If you don’t pay your balance in full each month, we’ll charge interest on interest. We calculate the interest charge on unpaid transactions daily and then add the interest to your account every month, this is called 'compounding' interest. Because this rate includes the payment of interest on interest, it will be greater than your simple interest rate.

How we charge interest and fees: If you pay your balance in full by the payment date, we won’t charge interest on purchases you made with your card. 

If you don’t pay your balance in full by the payment date, we’ll charge interest on the outstanding balance including any new purchases you make until your outstanding balance is paid in full. We convert the annual simple interest rate for each type of transaction into a daily rate (using 365 days in a year). We then: 

• apply this rate to the amount you owe each day for each type of transaction; and then 
• on each statement date, add the interest charge for each type of transaction to your account.

We’ll add the interest to your account on your statement date each month. The interest will form part of your outstanding balance. 

We will charge interest on your interest if not paid in full – this is known as compound interest. 

If you use your card for cash advances, we’ll charge interest: 

• from when the cash advance is added to your account until repaid in full; 
• between your statement date and your payment date; and 
• on your interest if not paid in full - this is known as compound interest. 

Interest accrued between your statement date and your payment date to clear the cash balance will be added to the balance of your next statement. 

If you pay by Direct Debit, you may receive trailing interest until you make a manual payment to clear down the cash balance. 

The interest on fees and unpaid interest: We don’t charge any interest on fees for cash advances, fees for foreign purchases or fees for late payments. However, we do charge interest on any unpaid interest at the rate that applied to that type of transaction. For example, if the original interest was on a purchase, we’ll charge interest on the interest at our standard rate for purchases. This is called compound interest. 

Promotional rates: If we offer you a promotional rate, we’ll let you know the details of it at the time. If you use the promotion, we’ll show this on your statement.

3.3. Using your card in a foreign currency 

If you use your card or get a refund in a foreign currency, this is what happens: 

• Mastercard® will convert all transactions and refunds from a foreign currency to pounds sterling at their exchange rate on the day the transaction is settled. 
• You can find their exchange rates at www.mastercard.co.uk/en-gb/personal/get-support/convert-currency.html. 
• We use Mastercard’s currency exchange rate with no additional mark up. 
• Exchange rates change daily, so the rate Mastercard® use may be different from the rate on the day you make your transaction, because it might not be settled on the same day. 
• The exchange rate used will appear on your statement.

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3.4. Paying your statement 

Frequency: We’ll provide you with a statement for each month you used your card or have an outstanding balance. On it, you’ll see your total balance owed and the transactions of that statement month including any interest and fees. It’ll also show you the minimum payment required within 25 days of the statement date. 

Your minimum payment: You must pay at least the minimum payment each month. The minimum payment must reach your account by the payment date shown on your statement. Your minimum payment is designed to ensure that the total amount due owed is reducing over time. 

If you receive a refund after your statement date, but before your payment date, you must still make the minimum payment. 

Your minimum payment is the higher amount of: 

• The interest and any fees, plus 3% of the remaining balance; and
• £5 (or the whole balance if it is less than £5).

You can pay us more than the minimum payment if you want to and you can repay everything you owe us under this agreement at any time. 

Payment method: We will take payments from the Linked Account you designate via the App (excluding any linked savings accounts) by way of Direct Debit. 

WARNING: Missing payments could make it harder for you to get credit. It may also lead to us taking legal action against you.

We recommend that you should aim to pay more than the minimum payment in each month, since this will clear your balance sooner so you will pay less interest. We may set a recommended payment as a guide to how much you should pay, and, if we do this, we will tell you the amount we have set.

However, you are free to pay more than any recommended amount we set, up to the full balance shown on your statement.

How long it takes for payments to reach us: It can take up to seven working days for the money to reach us, depending on how you pay. 

Cancelling your Direct debit: You must have at least one Direct Debit set up via the App to make payments. If you want to cancel future Direct Debit payments, you must let us know no later than ten working days before the payment is due. If you cancel all Direct Debit payments, we will freeze your card and you will not be able to use the card or make payments with your card until you add at least one Direct Debit to a Linked Account (excluding any linked savings accounts).  

Other amounts we can ask for: If there’s an amount that’s overdue, or if you’ve gone over your credit limit, we can ask you to pay this at any time. 

The currency you can use to pay: All payments you make to us must be in pounds sterling. You should not make payments that place your Keebo Account in credit. 

If you do, we may restrict the use of the card and your Keebo Account to the amount of your Credit Limit and we can return any credit balance to you at our discretion. 

Early repayment: You can repay all, or part, of the amount you have borrowed at any time. If you wish to repay early, please contact us on support@keebo.com. When you contact us, we’ll tell you how much you have left to pay, or the effect on your account of making a partial early payment, depending on which option you choose. You will pay less interest by paying early.

We will tell you how early repayment can be made when you contact us.

3.5. How we allocate your payments 

We’ll always use your payments to pay off: 

• balances with higher interest rates before those with lower rates. 
• existing balances before new transactions that haven’t yet appeared on your statement. 
• balances that attract interest charges at the time of your payment before those that do not attract interest charges at that time.

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3.6. Keeping you and your card safe

Keeping secure: You must not let anyone else use your card, nor share your PIN or other security information (such as security codes) with anyone. If you do so, we won’t be legally responsible for any losses you suffer. 

Lost or stolen cards or security information: If your card or card details are lost or stolen, or you think someone knows your security information or your Keebo Account is compromised in any way, you should tell us immediately on support@keebo.com or, if applicable, via the App.  

You’ll need to tell us all the information you have about the loss, theft or misuse of your card or security information. 

We may ask you to report the matter to the police, or we may give information to the police about it. 

If your card is misused: You won’t be liable for any transactions not made by you unless: 

• Someone is using the card or card details with your permission or with security information made available by you; or
• You fail to keep your security details secure. 

You must tell us as soon as you can if you become aware of any unauthorised or incorrectly initiated or executed payment transactions, and in any event, no later than 13 months after the debit date. If you do not do this, then you will not be entitled to redress for the affected transactions or related charges or interest.

If we become aware of suspected or actual fraud or security threats relating to your card or security details, we will attempt to contact you by telephone (using the number you have given us) or via our mobile app or by sending you a text message or e-mail asking you to contact us. Provided that you satisfactorily complete the security checks we use to verify your identity, then (to the extent permitted by law) we will inform you of the nature of the suspected or actual fraud or security threats.

We will promptly investigate any transaction you challenge as unauthorised, or which we suspect to be unauthorised. You must co-operate with us and the police in carrying out these investigations and in attempting to recover any losses arising from the theft, loss or misuse of your card or security details.

If our investigations confirm that the transaction was not authorised by you, the general rule is that we will refund the transaction and return your account to the position it would have been in if the amount refunded had never been charged to your account (for example, by refunding any interest or fees we have charged as a result). The general rule applies in every case where:

• the card or security details are misused before you received the card; or
• the card or security details are misused to carry out a transaction where the cardholder does not have to be present (such as buying goods online or over telephone).

However, in other cases, there is an exception to the general rule. This is that, until you report the theft, loss or suspected misuse of the card, you will be responsible for:

• all losses caused by the misuse of the card by someone who got possession of it with your consent; and
• the first £35 of losses caused by the misuse of the card by anyone else, unless the theft, loss or misuse was not detectable by you.

If you find a card that you have previously reported lost or stolen, do not try to use it. Please destroy it securely. 

We will be liable to you for the correct execution of any valid payment transactions initiated by you or us which were not executed, or were defective or executed late by us or our service providers on your behalf. In such instances, we will be required, without undue delay, to refund you the amount of the non-executed or defective payment transaction and, where applicable, restore your debited payment account to the state in which it would have been had the defective payment transaction not taken place. We are also obliged immediately and without charge, to make efforts to trace any non-executed or defectively executed payment transaction; and notify you of the outcome.

Restrictions on using your card: You must not use your card or card details: 

• for gambling; 
• for an illegal purpose; or
• after the expiry date shown on the card. 

Preventing fraud or misuse: Occasionally we may prevent or limit the use of your card or card details, or refuse to issue a replacement card. 

We may do this when: 

• a card is lost or stolen, or we suspect unauthorised or illegal use; 
• we reasonably consider this is necessary to ensure the security of your account; 
• we have good reason to think you may not be able to repay us; 
• the transaction stands out to us as unusual compared to your normal spending habits; 
• the transaction exceeds your credit limit; 
• we reasonably believe the transaction would damage our reputation or breach a legal or regulatory requirement; 
• we reasonably believe the transaction is in breach or a misuse of this agreement; 
• we reasonably believe you no longer live at the UK address we have on record for you. 

We’ll make checks to try to prevent fraud or misuse. If we decide not to carry out a transaction, the supplier or we will tell you. If possible, we’ll explain why we made the decision and let you know what has happened by the communication medium that we reasonably think is appropriate. 

If you can’t use your card: We can’t guarantee that you’ll always be able to use your card or card details. We aren’t legally responsible for any loss if a card can’t be used due to circumstances that we can’t control or because we prevent or limit the use of your card or card details for any of the reasons shown above. 

Missed payments: If you fail to make the minimum payment in full on its due date, you’ll have to pay the missed payment fee of £10.00 each time you fail to make the minimum payment. 

We will also charge interest on interest at the rate of interest which applies to the credit agreement, as listed in section 3 above. We calculate the interest charge on unpaid transactions daily and then add the interest to your account every month, this is called 'compounding' interest.

We will record the details of the status of your account, including any payments you do not make when due, with a credit reference agency. This may negatively impact your credit score and may make it more difficult or more expensive for you to borrow in future. The identities of the credit reference agencies, and the ways in which they use and share personal information, are explained in more detail at www.experian.co.uk/crain.

Where applicable, we may use the funds in other accounts you have with us to reduce or repay the amount of the missed payment or other outstanding balances. This is called a right of set-off. 

If we’re unable to come to an arrangement with you about the missed repayments, we, we may give you a default notice explaining the situation and giving you at least 14 days to try and correct it. If you don’t make the payment within the time we give you, we can ask you to pay back the whole balance, all interest, fees and other sums payable under this agreement immediately, or we might sell your debt, and the buyer may follow similar processes.

We could take legal action against you to secure repayment You may also have to pay our reasonable costs or expenses (including legal costs) that we incur as a result of you breaching the agreement. These costs or expenses could include the cost of asking third parties to trace you, carry out debt collection activities on our behalf, or any costs we incur as a result of legal action we may take against you. If you have difficulties making payments, please contact us on support@keebo.com.

If we took legal action against you and a court decided you must pay us the money owed under the agreement, you may also end up paying more than just the money owed under the agreement. This is because you will have to pay the amount owed under the agreement plus interest from the date of the court decision, until the total amount is paid off in full.

4. Account information services

Our Account Information Services combine and display in one place account balances and transactional information for certain banks, building societies and other payment providers. Our Account Information Services enable users to organise and manage their finances effectively by giving you access to related tools and services, which help you to make the most out of your money. 

When you register for our Account Information Services by creating a Keebo Account, you permit us to collect information about your account transactions and present this to you through the creation of new or modified content to help you understand and manage your financial data.

Where we provide Account Information Services to you, we do not check the accuracy of that information nor whether it is up to date. Accordingly, we make no warranty that our Account Information Services will be uninterrupted, timely or error free; or that the information presented (including any category tags applied by us) will be accurate or reliable.

Our Account Information Services are provided on an ‘as is’ basis and we make no representation, guarantee or agreement of any kind as to the accuracy of the information generated by our tools or displayed on our App, nor the functionality of the App. This means that you should not exclusively rely on such information when making decisions about your finances.

We may use sub-contractors to deliver some or all of the Account Information Services. We carefully select the sub-contractors that we use and they have agreed to follow our instructions and our data privacy requirements.

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5. Linked accounts

5.1 Purpose of linked account

We will use financial data from any Linked Accounts to verify account balances and account information, establish spending limits, identify spending patterns and potential fraud, determine spending limits, analyse and report transactions, and provide Account Information Services to you. You must maintain at least one Linked Account at all times and agree that Keebo may directly debit this Linked Account or any other designated Linked Account via the App (excluding any linked savings accounts) for payment of periodic statements. You may change Linked Accounts through the App. 

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5.2. Set off and collections

Any amounts due under periodic statements that are not paid on time may be collected from any Linked Account (excluding any linked savings accounts) that is currently or previously linked; or set off, debited, or collected from amounts in a Keebo Account that is opened in the future, even if your original Keebo Account has been closed. This right may be exercised against you for the benefit of your creditors or receivers. This right will exist even if we do not exercise it prior to the making, filing, or issuance of an arbitration demand, court order, or other action.

Any failure to pay the full amount owed to Keebo when required is a breach of this agreement. You are responsible for all costs or expenses that we incur collecting amounts owed but not timely paid, including legal or collections fees and any interest at the maximum rate permitted under law.

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5.3. Direct Debits

You agree to provide us with your authority to use the Linked Account you designate in the App (excluding any linked savings accounts) for the purpose of collecting payments which are due under this agreement by way of Direct Debit and you agree to have at least one Direct Debit set up via the App to make these payments.

We use Direct Debit to collect payment of, at least, the minimum monthly repayment amount from your primary Linked Account. If sufficient funds are not available, we charge a £10 missed payment fee each time you miss a payment.

You can cancel your Direct Debits at any time either by contacting us at support@keebo.com or by telling the bank or building society where you have your bank account. 

If you cancel all Direct Debit payments, we will freeze your card and you will not be able to use the card or make payments with your card until you add at least one Direct Debit to a Linked Account (excluding any linked savings accounts).  
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6.  Our mobile application

To improve the App and its functionality, we will ask you to update it from time to time.

We grant you a limited licence to use this App on the basis of this agreement. You may not transfer this licence to any other person. This licence is not exclusive to you. We can withdraw this licence at any time.

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7. Your right to withdraw

How you exercise your right to withdraw: You may withdraw from this agreement without giving a reason within 14 days beginning the day after the day that the agreement is signed by both you and us, and we confirm via the App that your credit card has been set up. 

If you withdraw from this agreement, you must pay us the balance on your account and any interest no later than the end of the period of 30 calendar days beginning with the day after the date you gave us notice notice of withdrawal. Where you have used credit under this agreement during the withdrawal period, we shall inform you, on request, without delay, of the amount of interest payable per day. You can pay us via Direct Debit or bank transfer. If you do not do this, we may recover it as a debt through the courts. 

You can exercise your right to withdraw by contacting us on support@keebo.com or in-App.

8. Disputes and refunds

When we will give you a refund: We’ll give you a refund for a transaction and any interest and associated fees charged if: 

• We receive refund details from the supplier you bought goods or services from; 
• You didn’t authorise the transaction; 
• We’re able to claim a refund for you through the card scheme. 

Disputing a transaction: If you dispute a transaction and we find that you didn’t authorise it, your Keebo Account will be credited for that transaction amount. 

To be able to carry out an investigation, you’ll be asked to provide us information within a timeframe. We’ll tell you what to provide at the time. 

If we refund the transaction but find that you authorised it, we reserve the right to re-debit your account. 

If you dispute a pre-authorised transaction, you must tell us as soon as possible. 

Claiming against the supplier or us: If you used your card to buy goods or services that weren’t fully supplied or were unsatisfactory, you may have a claim against the supplier and us. This applies to individual items that cost between £100 and £30,000. 

9. If You give us incorrect information

What we will do if you give us incorrect information: You are required to make sure that any information you give us is accurate and complete. If any information you’ve given us (either when you applied for the credit card or during this agreement) proves to be inaccurate or incomplete, this is a breach of the agreement and we may give you a default notice. 

This will explain the default and give you at least 14 days to try and correct it. If the problem continues, we can ask you to pay back any outstanding balance, all interest, fees and other sums payable under this agreement immediately. 

10. Transferring this agreement

What happens if we transfer this agreement: We can transfer (or assign, including by way of security assignment) any of our rights and duties under this agreement to another company or person. We’ll only do this if we reasonably believe they will treat you the same way we do. 

Before we do this, we may give them and their advisers personal information about you to help them prepare for a possible transfer. We may also allow them to use your personal information after the transfer in the same way that we can. 

By personal information, we mean any personal details you and others have given us, and what we learn about you from running your accounts. 

When we refer to we, us, or Keebo in this agreement, this will also mean anyone we transfer our rights or duties to. 

We may also arrange for any other person to carry out our rights or duties under this agreement. This will not affect your rights under this agreement or your legal rights. 

You may not transfer the benefit of this agreement to anyone else. 

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11. Changes to this agreement

When we can make changes under this agreement: As this agreement has no fixed end date, we may need to make changes to it to take account of changes affecting our business or changes affecting your financial status. If you are unhappy with any changes we make, you may end the agreement straightaway by giving us 30 days’ notice that you want to end it and repaying us what you owe.

Letting you know about changes: We’ll give you not less than 30 days’ notice of any changes before they take effect. However, if a change benefits you, we may make it immediately (we will still notify you of the change). If you are unhappy with any change, you can close your Keebo Account by contacting us on support@keebo.com. 

If you do not do so, you will be deemed to have accepted the changes. 

Why might we change this agreement:  We may change the rates and fees, introduce new rates and fees or update this agreement at any time because of: 

• changes to the cost of providing the card and our services, or of funding the provision of credit under the agreement, or we have good reason to expect that they will change; 

• where we’re changing the use of your card and our services;
• where we’re changing the card benefits offered (if applicable);
• changes to laws, regulations, regulatory guidance, banking practices or other external factors that it is reasonable for us to take into account; or
• the cost of operating our business profitably and soundly; 
• the need to reflect changes in technology or the functionality of your account or our systems; 
• the need to introduce new facilities and services; 
• our assessment of your credit risk in the future or where we have good reason to think that a change in your circumstances means that the risk you might not be able to repay us has increased. 

We may also change this agreement to correct any mistakes or to make this agreement fairer or clearer. 

We may make other changes as long as it is reasonable for us to do so and we explain the reason to you. 

Changes to the credit limit and daily cash limit

We will keep your credit limit and daily cash limit under review and we may change either or both of them from time to time to respond proportionately to how you use your account or a change in your financial status. 

The general rule is that we will give you at least 30 days’ notice if we are proposing to increase your credit limit or daily cash limit, in which case the increase will apply to you at the end of that period unless you have contacted us in the meantime to reject it or request a smaller increase.

There are some exceptions to the general rule:

• If you ask us to, we will not implement any future proposals to increase your credit limit or daily cash limit unless you contact us during the period of our notice to tell us that you wish us to do so.
• We will stop proposing any further increases in your credit limit or daily cash limit if you contact us at any time to ask us to do so.

WARNING: A higher credit limit may offer greater flexibility and convenience to meet your financial needs. However, it may also increase the risk of taking on too much debt, which may be costly, or take a long time to pay off. You should carefully consider whether you need a higher limit.

We will normally give you at least 60 days’ notice of a reduction in your credit limit or daily cash limit.

However, we may reduce your credit limit or daily cash limit without notice (in which case we will tell you about the reduction as soon as possible afterwards) where we think that we need to stop you carrying out further transactions because you will not be able to repay, or to comply with legal or regulatory requirements. 

You may ask us to reduce your credit limit or daily cash limit at any time. However, we will not reduce your credit limit to a level which we reasonably believe would cause you to break this agreement (e.g. if the reduction you have asked for would take the credit limit below your account balance).

Changes to interest rates

We may from time to time change interest rates in proportion to:

• a change in the prevailing Base Rate;
• a change in the risk of your breaking this agreement, considering whether you have previously been late in making repayments or a change in your credit score:
• a change beyond our reasonable control in the cost of providing your account;
• a change in the cost to us of funding the provision of credit under this agreement;
• a change in legal or regulatory requirements or in any code of practice affecting our business; or
• a change in the cost to us of complying with any legal or regulatory requirements that apply to us (but excluding any additional costs we have to bear as a result of a failure by us to comply with those requirements).

If the Base Rate changes, the simple rate will also change. Changes to the Base Rate will be applied to your account from the day of your next statement date, except as follows: 

• We can choose not to apply (or choose to delay) an increase to your interest rate which would otherwise apply because of an increase in the Base Rate at any time. 
• If there’s been a Base Rate change in the 60 days before you signed this agreement which means that the Base Rate is different from the assumed rate shown in the interest rate section of this agreement, we will delay giving effect to the change until the day of your second statement date, and we will notify you of the changed rate on your second statement. If there has been a decrease in the Base Rate, this will take effect from the day of your first statement date, and we will notify you of the changed rate on your first statement. 
• As the Base Rate we apply will never go below 0%, this means that we will disregard any change to the Base Rate while it remains below 0%. 

If we're changing your interest rate because the base rate has changed, we will tell you of this on the monthly statement before the change takes effect. We will tell you what the change has been to the Base Rate and how that change will affect payments to be made, using an example. 

If we’re increasing your interest rate because we are increasing your personal rate, we'll give you at least 60 days' advance notice of the change and you'll be able to opt out of the increase by notifying us before it takes effect. 

Otherwise, we will normally give you at least 60 days’ notice of any increase in your interest rates and at least seven days’ notice of any reduction.

You cannot opt out of interest rate increases resulting from changes in the Base Rate but you can opt out of an increase (in your personal rate) and carry on paying off what you owe us at the old rate. If you would like to do this, you must tell us within 60 days of us telling you about the proposed increase in your personal rate. If you do this, the increase will not apply to you but:

• we will freeze your card and no further card transactions may be carried out by you;

• you must cancel any continuous payment authorities you have given to enable someone else to take regular payments from your account;
• you must repay all the money you owe under this agreement within a reasonable period; and
• this agreement will end and your Keebo Account will be closed when all the money you owe has been repaid.

Changes to the minimum payment

We may from time to time change how we set the minimum payment to respond to changes in legal or regulatory requirements or cords of practice. 

We will give you at least 30 days’ notice of any change in the way we set the minimum payment.

Changes to the fees we charge

We may from time to time change the fees to reflect the costs of running our business, legal or regulatory requirements, or the way that you use your card. 

We will give you at least 30 days’ notice of any increase in an existing fee or the introduction of a new servicing fee. We will give you at least seven days’ notice of a reduction in an existing fee.

Changes to your card

We may from time to time replace your physical card with a new card having the same features (for example, when your current card is about to expire or is wearing out).

We may also issue a replacement physical card which has different features and may have a different number from your current card. We may do this where:

• we are replacing the card with one which has equivalent or superior features (for example, where the new card is issued under a different card scheme);
• we need to change the features of the card to reflect a change in the terms that apply to the card (being a change which we are entitled to make by exercising our powers under this agreement);
• we need to remove a feature which is available with your current card because the feature gives rise to security risks or is supported by technology which has become obsolete or is being withdrawn by a third party;
• there is a change beyond our reasonable control in our relationship with a third party who has been providing features available with the current card; or
• you have asked us to switch you to a different credit card product.

We will give you at least 30 days’ notice before we replace your card with one which has different features except where we are doing so because you have asked us to switch you to a different credit card product.

We may change your account number or card number (or both) if we reasonably think the change is needed to protect the security of your account or card (for example, if you tell us your card has been lost or stolen or you suspect that your account details or security details are being misused, or if you have not received a replacement card that we have sent you). We may make these changes without notifying you first, though we will try to contact you beforehand where we can do so without putting the security of your account at risk. If we need to change your card number, we will issue you with a replacement card with the new number.

If you have given anyone a continuous payment authority to take regular payments from your credit card account, you will need to tell them if we change your account number or card number so that they can continue to take payments from your account.

Changes to the other terms of this agreement

We may from time to time make changes to the other terms of this agreement for any one or more of the following reasons:

• if the change is in your favour;
• to correct an error;
• to make the terms easier for you to understand;
• to reflect a change beyond our reasonable control in the operation of the card scheme we use in connection with your account;
• to enable us to offer you a new service or feature in connection with your account;
• to reflect improvements in the systems we use to run our business (including changes in the capabilities of those systems) or other changes to those systems which are beyond our reasonable control;
• to reflect changes in technology, fraud prevention requirements or payment methods;
• to reflect changes beyond our reasonable control in the costs of providing the services we supply to you;
• to reflect a change which has occurred or we reasonably expect to occur in the near future in legal or regulatory requirements or in the requirements of any trade body that apply to us; or
• to reflect the requirements of any code of practice which promotes good practice in the financial services sector.

We will ensure that any change we make to the terms of this agreement is a proportionate response to the reason relied on for making the change.

12. Termination

Why we might end this agreement: If we need to end this agreement, we’ll give you 60 days’ notice. However, as long as we comply with our legal requirements, we may end this agreement immediately provided that there are serious grounds for doing so. 

Examples of serious grounds may include: 

• you don’t keep to this agreement; 
• we believe, as a responsible lender, it is necessary to end this agreement; 
• a bankruptcy order is made against you; 
• you apply for a debt relief order to make a voluntary arrangement with your creditor; 
  

• you move abroad; 
• you die.

When this agreement ends: We won’t close the account unless we receive payment in full. 

You must repay the following: 

• all outstanding amounts; 
• any amounts that become due; 
• interest to the date of payment; and
• any fees. 

If you want to end this agreement: This agreement has no fixed term. You can end it at any time by giving us 30 days’ notice by contacting us on support@keebo.com. You don’t need to give any reason for ending it. 

Enforcement: If you don’t keep to this agreement but we decide not to take action at the time, it doesn’t stop us from taking action in the future. 

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13. Statements and other things

Your statements: We’ll provide statements showing movements (if any) on your account, and interest and fees due each month. 

You can also request a copy of your monthly statement with this information at any time by contacting us with the App or on support@keebo.com. You are responsible for checking your statement. 

You must tell us immediately if you: 

• don’t receive a statement; or
• think something is wrong on your statement. 

If your card is lost or stolen, we can sort it out 24/7. Please contact us via support@keebo.com.  

Otherwise, we’re here to help by in-App chat 5 days a week from 9am-6pm on weekdays, except Bank Holidays. Calls may be recorded for training and quality purposes. We are authorised and regulated by the Financial Conduct Authority (FRN: 915914) for consumer lending (under FRN: 915914) and to carry out payment services activities under the Payment Services Regulations 2017 (under FRN: 916866). 

If you need an alternative format, please contact us on support@keebo.com.

Your linked account: The Linked Account you designate via the App will be automatically debited via Direct Debit for the full amount you specify via the App, subject to the minimum payment, at the end of each billing cycle and your Keebo Account will show the credit the day after payment is received. Unless otherwise specified in writing by Keebo (or amended by you via the App), periodic statements for standard usage are issued every 30 days starting on the day that you create your Keebo Account.

If your details change: If any of the following details change, to avoid any problems, and to ensure that you are not in breach of this agreement, you must tell us as soon as possible: 

• your name; 
• your home address; 
• your email address; 
• your bank account details used for a Direct Debit Instruction; or
• your mobile phone registered with us. You will only be able to register a UK mobile phone number. 

Notices: We can send notices or communications to you by post, email, text or any other electronic communication that we reasonably think is appropriate, using the latest contact details and preferences you’ve given us. We may send documents to you in pdf format or any other format permitted by law from time to time. We will always communicate with you in English. 

Data protection: Your privacy is important to us and the information you give us online and offline is treated carefully. 

We use your information to provide our services to you and to help us improve our product service delivery and for other purposes set out in our Privacy Policy. We may share your information with parties outside of Keebo. 

For further details on how we obtain and use your information and who we share it with please read the Privacy Policy. The Privacy Policy can be found on our website on www.keebo.com/legals/privacy-policy.

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14. If things go wrong

If you have a complaint: Contact us on support@keebo.com if something’s concerning you or to make a complaint and we’ll try to work it out with you. You can also contact complaints@payr.net if you think we haven’t dealt with your complaint adequately. 

If you are a non-business debtor, have a complaint and aren’t satisfied with how we deal with it or it’s been over 8 weeks since you raised it, you can refer your complaint to the Financial Ombudsman Service. A business debtor may also have this right. You can contact the Financial Ombudsman Service and find out more about their service: 

• By post: The Financial Ombudsman Service, Exchange Tower, London, E14 9S4 
• By phone: 0800 023 4567 
• By email: complaint.info@financial-ombudsman.org.uk 
• Online: www.financial-ombudsman.org.uk 

Our supervisory authority: The Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN is the supervisory authority under the Consumer Credit Act 1974, (FRN: 915914) for consumer lending and the provision of payment services (FRN: 916866) under the Payment Services Regulations 2017. You can confirm our registration on the FCA’s website (www.fca.org.uk). 

PayrNet Limited is authorised and regulated by Financial Conduct Authority (FRN: 900594) to conduct electronic money service activities under the Electronic Money Regulations 2011. You can confirm their registration on the FCA’s website (www.fca.org.uk).

Governing law: These terms are supplied in English, and we will communicate with you in English. These terms will be governed and construed in accordance with the laws of England and Wales.

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15. Signing this agreement

This agreement will be executed when you confirm your acceptance to it via the App. An executed copy of your agreement will be instantly available in the App once you have done this.

You agree that by confirming your acceptance to this agreement via the App will constitute your signature for the purpose of executing this agreement. 

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