General Terms and Conditions for Tink’s Account Information Services and Payment Initiation Services
These general terms and conditions (the “Terms”) apply for access to and usage of the Services (according
to the definition in section 2 below) provided by Tink AB, reg. no. 556898-2192, (“Tink”, “we”,
“us”, “our”).
Tink, a Swedish limited company with its registered office in Stockholm, is a payment institution that provides
account information services and payment initiation services. Tink provides the Services with a license granted
by the Swedish Financial Supervisory Authority, Finansinspektionen, that supervises Tink. You can find our
contact details in section 18 below. More information about Tink can be found on our website,
consumer.tink.com (“Website”).
The Terms, together with other terms that you may come to accept while using the Services, constitute an
agreement between you who use the Services, or the legal person you represent if the Services are provided to
the legal person and not you personally (“user” or “you”), and Tink (“Agreement”). Please
note the provisions in section 7.1 below regarding liability related to payment accounts and other bank accounts
that you hold together with someone else or accounts held by a legal person.
As stipulated in section 12 in these Terms, the Agreement is normally terminated as soon as we have performed the
Service you requested. However, if the conditions in section 5 are met, the Agreement will instead continue to
apply until it is terminated by you or Tink.
The Terms, that is an important part of the Agreement, are also available on the Website.
Please read through the Terms thoroughly before you agree to them and enter into the Agreement. If you do not
accept all provisions of the Terms, you are not entitled to use the Services.
You are welcome to contact us on consumer-contact@tink.com if you have any questions regarding the Terms
(complete contact details can be found in section 18 in the Terms).
- General
- By using the Services, you enter into the Agreement and confirm that you have read, understood and
accepted these Terms.
- To use the Services, you must be at least 18 years of age and/or otherwise be authorised to enter
into the Agreement, and also agree to be bound by the Terms.
- By using the Services you authorise Tink to access your login details at respective bank, payment
service provider or other service provider (“External Login Details”) in accordance with the
instructions for the Service concerned. When doing this, you give your explicit consent for and
instruct Tink to use your External Login Details on your behalf to perform the Services in
accordance with what is stipulated below in sections 2, 3 and 4.
- You are responsible for being authorised to use the External Login Details and the information that
is retrieved through the Services.
- The Services are provided to you through any of our collaboration partners (“Partner”) that
provide one or several of their own services to you (“Partner Service”) and where there is a
need for Tink to provide the Services to you for the Partner Service to have the desired
functionality. Please note that Tink only is responsible for the services that are provided to you
by Tink in accordance with these Terms, and that Partner Services are provided to you by respective
Partner in accordance with the terms and conditions that apply for the respective Partner Service.
For more information regarding the functionalities of the Services please see below. Information
regarding Partner Services are provided by respective Partner.
- You approve that all communication with Tink regarding the Services is executed online, through
e-mail or other digital media. The Terms can upon request be provided on durable medium. Our primary
language for communication is Swedish or other official language in the markets where the Services
are provided.
- The Services
- These Terms apply when we provide account information services and/or payment initiation services
(jointly referred to as the “Services”). Account information service provision are specified
in section 3 and payment initiation service provisions are specified in section 4.
- Account Information Service
- Tink’s account information service (“Account information service”) allows you as holder of
one or several accounts or, when the Account information service is provided to a legal person,
representative for the legal person holding such account, in a fast and secure way identify yourself
and require that compiled information from and about one or more accounts held by you or the legal
person (“Information”) is made available to Partners such as for example banks, financial
institutions and other service providers, in connection to the performance of Partner Services. The
Account information service always requires that you provide your explicit consent to us performing
the Account information service and, as a part of that service, retrieve relevant data about and
from your accounts and also make the Information available to the Partner or Partners that you have
designated.
- Tink can retrieve information about payment accounts, credit- or debit card accounts, savings
accounts, investment savings accounts etc. A prerequisite for the Account information service to be
performed is that the account is accessible online.
- The Account information service is made available to you within a Partner Service. Before the
Account information service is initiated, a list over available third parties, banks or other
service providers that it is possible to retrieve the Information from (“Information Source”),
is presented to you. Based on the presented list, you choose the Information Source you want to
retrieve the Information from. In the next step, information regarding that the Account information
service is provided by Tink is presented. Prior to the initiation of the Account information service
you have to accept the terms and conditions for and give your explicit consent to the provision of
the service. In the same step, we also present information about how Tink processes your personal
data. When we have received your request on the provision of the Account information service, you
identify yourself towards the Information Source in the way required by the Information Source by
usage of External Login Details. In connection, a request on retrieval of the Information is
immediately sent to the Information Source, whereafter Tink retrieves the Information about the
account(s) that you have instructed Tink to retrieve Information on. As soon as the Information has
been collected, it is made available to the Partner designated by you, whereafter the Account
information service is completed.
- When the Account information service is performed under a Framework Agreement (see section 5 below),
Tink will, after an explicit consent has been provided to Tink and an initial identification of you
has been made towards the Information Source, during a time period determined by the Information
source, which may vary between cases, be able to automatically update the collected Information
towards the Information source under such period. However, an update of the Information will in some
cases require a new consent and that you for each update identify yourself towards the Information
source.
- The time it takes to perform the retrieval of data varies depending on the time required for the
identification towards the Information Source and the volume of the information that is to be
retrieved. It will however be performed as soon as possible after you consent to the performance of
the service.
- Payment Initiation Service
- Through Tink’s payment initiation service (“Payment initiation service”) you can request an
initiation of a payment order from any of your payment accounts at your bank where the account is
accessible online to your own or other’s accounts. By requesting that we provide the Payment
initiation service you also give your explicit consent to that we provide the service.
- You use the Payment initiation service by, each time you wish to initiate a payment or a transfer,
in the Payment initiation service
- request that the payment/transfer is initiated,
- provide information on which of your accounts the payment should be initiated from,
- provide the account of the payee, and/or
- provide an invoice reference number/message, according to the instructions.
Depending on the functionality in respective Partner Service, information regarding the payee,
such as name,
invoice reference number and payee account number, can also be handed to us directly from the
Partner, whereby
you are responsible to make sure that the information provided to us is correct.
- When information about the payee and the payee account has been filled in, you select the bank you
want to initiate the payment order from. To make it easier for you and to ensure that you provide
correct information about the account a payment shall be initiated from we normally provide an
Account information service whereby we present a list over your available accounts with the selected
bank. This procedure is used in such markets and for such Partner Services where appropriate
conditions exist. The Account information service requires that you accept the terms and conditions
for the provision of the service and that you provide your explicit consent for the provision of the
service (read more about Account information service in section 3). In the next step you select the
account you want to initiate the payment from and, by using your External Login Details towards your
bank in the way required by the bank, request the provision of the Payment initiation service.
Following that Tink performs the Payment initiation service and receives information from your bank
about whether the payment was initiated or rejected by your bank. As soon as the Payment initiation
service has been executed you, and the Partner designated by you, are provided a summary of the
payment initiation, whereafter the Payment initiation service has been completed. Usage of the
Payment initiation service within some of the Partner Services also means that an Account
information service is performed after the Payment initiation service is performed in order to
verify that a payment order has been executed successfully. Your request on provision of the Payment
initiation service therefore also means that you provide your explicit consent to the provision of
the Account information service, and that the information about an initiated payment, where
applicable, is shared with the Partner designated by you.
- An order to execute a Payment initiation service is always considered to be received by Tink the
same day it has been approved by you. When you have approved a payment initiation it cannot be
revoked. As soon as you have approved the initiation it is performed by Tink, which means that your
bank receives a payment order. Please note that the execution of the actual payment transaction is
done by your bank and that this may be executed another day than the day you towards Tink approved
and confirmed the payment initiation.
- It is your responsibility that the information you provide for the performance of the initiation is
correct and that you have sufficient funds on the selected payment account. Tink is responsible for
performing the initiation, meaning that a payment order is communicated to the bank where you hold
your bank account.
- Tink will notify you if the initiation cannot be performed. The execution of the payment order is
done by the bank and is the responsibility of the bank. The time for execution of the payment order
is dependent on the specific bank’s execution time.
- If you suspect that a payment based on a payment initiation has been executed without your approval
or that it has been performed incorrectly, you are responsible for, without undue delay after
becoming aware of it, reporting it to your bank where your bank account is held according to the
bank’s instructions. If you fail to do so, you may become liable for the transaction.
- In such case you fail to notify your bank about unauthorised transactions:
- as soon as possible after becoming aware of such, or
- within 13 months after the amount is debited to your account,
you are liable for the entire amount.
- You can also become liable for unauthorised transactions initiated if they were completed
because
you failed to protect your External Login Details and/or your technical equipment.
- Framework Agreement
- As stipulated in section 12 in these Terms, the Agreement is normally terminated after we
have
performed the Service you have requested. When providing an Account information service
there
might
be cases when a desired functionality in a Partner Service requires repeated retrieval of
Information from your account where you also approve that the information is made available
to
the
designated Partner a number of times repeatedly over a period of time.
- To the extent required for the Partner Service in question, you by agreeing to the Terms
give
your
explicit consent for recurring retrieval of Information in accordance with section 3.3 and
5.1
above. Based on that consent we will within the scope of Account information service update
the
Information up to 4 times per day, during a period of maximum 90 days from the date you gave
your
explicit consent. After this period of time has expired, a new consent is required from you
for
continued recurring updates. Depending on the method applied by your bank, a new consent may
instead
be required for each retrieval of the Information.
- If and when you consent to recurring retrievals of Information in accordance with section
5.1
above,
the Account information service will be provided over time, which differs from the case
where
you
require one-off retrieval of the Information. Where you have given your consent to recurring
retrievals, the Agreement will be in force until you or we terminate the Agreement. Such
agreements
that apply until further notice are referred to as “Framework Agreement” in these
Terms.
Provisions regarding the Agreement term and termination are specified in section 12 below.
- Fees
- Tink provides the Services to you free of charge. Fees imposed by your mobile phone operator
or
internet provider may apply. For Partner Services it is the Partner's fees and terms and
conditions
that apply.
- Additional information on your responsibility for usage of the Service
- It is your responsibility that you have the right to use the External Login Details and that
you
are
authorised to request respective Service. Please note that this also applies to payment
accounts
and
other accounts that you hold together with someone else or accounts held by a legal person
(company
or other organisation).
- In addition to the above, you are also responsible for and guarantee that:
- your use of the Services is made in accordance with the Terms and applicable laws and
regulations.
- you keep your External Login Details protected from unauthorised access.
- you protect your technical equipment from unauthorised usage, e.g. with pin code or your
biometrical
characteristics (e.g. fingerprint reader).
- you immediately inform Tink if you suspect or have knowledge about unauthorised usage of the
Services or
of
your technical equipment.
- the information you provide in the Services is accurate, up to date and complete.
- the information you provide in the Services does not infringe the rights of anybody else or
in any
other
way
violates law or someone else’s rights.
- you do not copy, modify, distribute or publish content provided by Tink within the Services
or in
any
other
way misuse the Services or use it for any other purpose than they are intended for.
- you do not try to circumvent the security measures or other limitations of the Services.
- Availability and our liability
- The Services are normally available around-the-clock, all days of the year. However, we
cannot
guarantee the Services are free from errors or interruptions. We have the right to make
changes
in
operating methods, technical specifications etc. and always have the right to shut down the
Services
for maintenance and similar activities. Our aim is that all information in the Services
shall be
correct and as up-to-date as possible. However, Tink cannot guarantee the reliability or
accuracy of
the information presented in the Services. Tink cannot be held accountable if the Services
are
unavailable or if any information or functionality does not work as expected, besides what
follows
on Tink’s liability under applicable law.
- The performance of the Services can be dependent on services provided by a third party (e.g.
mobile
phone operator or internet provider). We are not responsible for such services provided by a
third
party.
- Tink assumes no responsibility for any financial or other type of decision you take based on
your
use of the Services or for services or goods you choose to purchase from independent third
parties
or Tink’s collaboration partners, including Partners.
- Other than what is stated in mandatory law, Tink is under no circumstances liable towards
you or
any
third party for any direct or indirect losses or damages incurred in connection to the
provision
of
the Services.
- Unless otherwise stated in mandatory law, Tink’s total liability for damages connected to
your
usage
of the Services shall never exceed SEK 500.
- Processing of personal data
- Tink's provision of the Service includes processing of your personal data. Information about
how
we
process your personal data is available on our Website.
- Measures for customer due diligence etc.
- In order to comply with applicable anti-money laundering rules, we may request that you
provide
us
with certain information. By requesting a Service, you undertake to provide all such
information
as
may be deemed necessary for such purposes, and you understand that failure to provide
requested
information may result that a requested Service cannot be performed or other consequences,
depending
on the situation.
- Tink may come to monitor your usage of the Services for the purpose of complying with
current
anti-money laundering rules. The principles for such monitoring may vary from time to time
and
depend on the circumstances relating to the user, such as transaction patterns and similar.
- VIOLATION of Terms etc.
- If you violate the Terms or otherwise harm us, we are entitled to terminate your access to
the
Service.
- We reserve the right to suspend you from using the Services at any time if you violate the
Terms
or
otherwise use the Services in a manner that may cause damage to Tink or a third party.
- In cases of suspected security risks, or if Tink suspects that an initiated payment is
unauthorised,
Tink may inform you in the manner deemed appropriate for the situation. Tink also reserves
the
right
to at any time block the Account information service and/or the Payment initiation service
if
there
is a risk for non-secure use of the Services, or in case of suspicion of unauthorised use of
the
Services. The same applies for suspected fraud or other illegal activity.
- Term and termination
- The respective Service is provided and performed immediately or in close connection to your
request
for performance of the Service.
- Provided that you and Tink have not entered into a Framework Agreement (regarding Framework
Agreement, see section 5), the Agreement is automatically terminated after we have performed
the
Service requested by you.
- If you and Tink have entered into a Framework Agreement (regarding Framework Agreement, see
section
5), the Agreement continues to apply until you terminate it by sending an email to
consumer-contact@tink.com. In such case you have not requested the performance of a Service
under a
Framework Agreement for a period of 365 days since the Service was last performed at your
request,
the Framework Agreement is hereby terminated. You may use the Service again at any time by
entering
into a new Framework Agreement with us.
- Agreements that are Framework Agreements can also be terminated by Tink with a notice period
of
2
months.
- Force Majeure
- We are not responsible for delays or deficiencies in functionality or performance that we
reasonably
cannot anticipate or that in otherwise are caused by circumstances outside our reasonable
control
(force majeure), including but not limited to events such as fire, flooding, explosion,
riot,
acts
of war, hurricane, sabotage, acts of terrorism, vandalism, accidents, epidemic disease,
government
or governmental authority action, court injunction, strike or other similar events that may
arise
despite Tink’s reasonable effort to prevent, avoid, delay or mitigate effects of such
events.
- Amendments to the Terms
- We reserve the right to, at any time, change the Services, amend the Terms or cease the
provision of
the Services. If you do not accept the amended Terms, you have the right to at any time
terminate
the Agreement. If you continue to use the Services after an amendment of the Terms has come
into
force, you are deemed to have accepted the amended Terms.
- If the Agreement constitutes a Framework Agreement (regarding Framework Agreement, see
section
5),
the amended Terms will come into force no earlier than 2 months after you have been informed
of
the
amended Terms.
- Tink has the right to amend the Framework Agreement, including Terms, without regard to the
2
month
notice period as set out in section 14.2, if such amendment does not affect your rights as a
payment
service user, or otherwise poses a significant disadvantage on you. Such amended Terms come
into
force at the point of time notified by Tink.
- Miscellaneous
- Tink has the right to transfer its rights and obligations under the Agreement. Tink also has
the
right to engage subcontractors for the fulfilment of its obligations.
- You have a right to, upon request, receive a copy of these Terms. You are welcome to contact
us
with
your request on consumer-contact@tink.com.
- Statutory information about the Services is provided in accordance with applicable law on
our
Website or through consumer-contact@tink.com when the information is requested by you.
- Governing law and dispute resolution
- The Agreement and the Terms are governed by and shall be interpreted in accordance with
Swedish
law.
However, if you reside in another country than Sweden, this should not affect mandatory
rights
and
obligations arising from the law in the country within the EU/EEA where the respective
Service
is
provided (“Local Law”). To the extent that Swedish law is in conflict with Local Law,
Swedish
law shall prevail to the extent possible. If not prohibited by Local Law, disputes shall be
settled
by Swedish courts.
- Complaints AND Supervision
- We care about our customers. Therefore, we are keen to answer your questions or to know if
you
are
dissatisfied with us and our goal is to address all inquiries as soon as possible. For
contact
with
our customer service, please contact consumer-contact@tink.com (state “Complaint” in the
subject
field). Written complaints can also be directed to
Tink AB
Att: Complaints Officer
Vasagatan 11
111 20 Stockholm
- Tink is licensed as a payment institution and is supervised by the Swedish Financial
Supervisory
Authority (Finansinspektionen), which is stated in the company register kept by the
authority,
www.fi.se, and which also can be verified by contact with:
FINANSINSPEKTIONEN
Box 7821
103 97 Stockholm
+46 8 408 980 00
- Contact information
- You can always contact us as follows:
Tink AB (reg. no 556898-2192)
Vasagatan 11
111 20 Stockholm
consumer-contact@tink.com
+46 8 50 90 89 00