Terms and Conditions

Latest version: 16 December 2015

In these Terms and Conditions you’ll find important information about the app Twyp. After reading this information, you’ll know exactly where you stand when using Twyp. We find it important that payments are made securely and that you can use the app safely. For that reason, security is an important part of these Terms and Conditions.

Paying via Twyp is secure

Paying via Twyp is secure. We use the highly secure payment systems of ING Bank. What’s more, you’ll always pay safely, because you always confirm a payment with your personal code.

Safety rules to respect yourself

You can do a lot too when it comes to secure payments. Stick to the following safety rules:

  1. Store and use your smartphone with Twyp on it in a safe place.
  2. Keep your personal code and security code safe.
  3. Always use your personal code and security code safely.
  4. Make sure your smartphone, software and connection meet the security requirements.

Want to find out more? Read our Security rules (in Annex II of these Terms and Conditions).

Your privacy is protected

By using Twyp, you’ll provide us with your personal information. You can trust us to handle your information carefully, securely and confidentially. We’ll do this according to the rules laid down in the Dutch Code of Conduct for the Processing of Personal Financial Institutions (‘Gedragscode Verwerking Persoonsgegevens Financiële instellingen’). Check our Privacy Statement (Annex I of these Terms and Conditions) to find out exactly how we handle your information.

Validity Terms and Conditions These Terms and Conditions are valid from 25 April 2016. The information in these Terms and Conditions may change. For current information check www.twyp.com or contact Twyp Customer Service by calling +31 20 591 89 99.

Definitions

Some words start with a capital letter in these Terms and Conditions. These terms are definitions and will be explaned in Chapter 2.

1 General information

1.1 Introduction

These Terms and Conditions apply to the use of Twyp.

To join

During the registration process you are requested to join Twyp. You can join by tapping the ‘Join’ button in the App. By doing so, you confirm that you have read and agree to Twyp’s Terms and Conditions and Privacy Statement.

App for peer-to-peer mobile payments

Twyp is an electronic money (‘E-Money’) based peer-to-peer mobile payment (‘P2P Payment’) application provided to you by ING Bank N.V. (‘ING’). References hereafter to Twyp shall be read as references to ING. Twyp facilitates its users (‘Users’) to send and receive E-Money from their personal E-Money account (‘Account’) to the Account of other Users and vice versa. Twyp also includes a chat function that allows Users to send text messages to other Users and receive message from other Users.

Invite contacts

You can invite your contacts to become a User within the App. Twyp will send an SMS to the selected contact with a link to download the App.

1.2 Important Information

Active mobile telephone number

Twyp can only be downloaded and used in combination with an active mobile telephone number, issued in one of the countries in which Twyp is available in the local Apple and/or Google Play store. After downloading the App, you will be guided through the registration process.

Top up with a Card or iDEAL

Top up of your Account can be done using a Card issued by an issuer located in a country in which Twyp is made available in the Apple and/or Google Play store. If you have downloaded Twyp in the Dutch Apple and/or Google Play Store, you can also Top up your Account with iDEAL. Top ups can be made only in Euro. After receipt of funds Twyp will issue the E-Money into the Account at par value (i.e. Twyp will credit the Account with the same amount of E-Money as the amount received in Euros).

Redemption of E-Money

You can Redeem the balance on your Account by making a transfer request, after which the monetary value of E-Money will be transferred to your personal IBAN. Twyp will Redeem the E-Money at par value. In the App you may Redeem the E-money on your Account by using the ‘Withdraw’ option.

No negative balance

You cannot have a negative balance on your Account. Twyp does not provide credit to Users.

Minimum age of 18

You must be at least 18 years old or have the necessary consent from your legal representative(s) to use the App and the Services. By registering for the App, Twyp assumes that you are at least 18 years or that you have received (implied) consent from your legal representative.

A maximum of one account

You may not register or use more than one Account at any time. Twyp may close any or all of your accounts if Twyp reasonably suspects that you have multiple Accounts.

Connected telephone number cannot be changed

You cannot change the telephone number connected to your Account. If you wish to use a different telephone number, you need to register a new Account. However, as you are only permitted to have one Account, a new Account can only be opened after the existing Account has been terminated. Before your Account can be terminated because you are changing or cancelling your telephone number, you need to Redeem your balance.

Only for personal use

You may use Twyp only for personal use. You may not use Twyp for commercial or business purposes (e.g. accepting payments as a merchant).

No fees, no interest

No fees are imposed by Twyp for the use of the App or the Services. No interest on your Account balance or other benefits can or will be paid to you. Twyp is not responsible or liable for any fees or costs imposed by third parties, such as telecom providers and/or Internet providers for the use of their services.

No compensation available

The E-Money on your Account does not qualify as a deposit or as other repayable funds received from the public. This means that there is no compensation available to cover losses under the Deposit Guarantee Scheme or an equivalent scheme for the funds you place at Twyp.

1.3 License

ING is licensed by the Dutch Central Bank (De Nederlandsche Bank, ‘DNB’) and the European Central Bank (‘ECB’) for the issuance of E-Money and related payment services. ING falls under the supervision of DNB, the ECB, the Authority Financial Markets (Autoriteit Financiële Markten, ‘AFM’) and the Authority Consumer & Market (Autoriteit Consument & Markt, ‘ACM’). ING is registered by DNB (in the register of supervised undertakings) and the AFM (in the register for financial service providers).

2 Definitions

Some terms in this document start with a capital letter. These terms are definitions and will be explaned in this chapter.

Account

A Twyp E-Money account.

App

The mobile P2P payment application through which the Services are provided.

Automatic Redemption

Automatic transfer of the monetary equivalent of any or all of the E-Money from an Account to the User’s IBAN as set out in Clause 5.3.

Automatic Top Up

Automatic purchase and crediting of E-Money to an Account as set out in Clause 5.1.1.

Card

A credit card using Visa or MasterCard (PAN number format), which is issued by an issuer located in a country in which Twyp is made available in the Apple and/or Google Play store.

E-Money

Electronically stored monetary value as represented by a claim on the issuer, which is issued on receipt of funds for the purpose of making payment transactions and which is accepted by a natural or legal person other than the electronic money issuer.

IBAN

A personal IBAN of the User with a credit institution in Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia or Spain.

ING

ING Bank N.V. (including its branches), the E-Money issuer and E-Money payment service provider of Twyp. ING Bank N.V. is registered in the Netherlands (Chamber of Commerce no. 33031431) with its registered office at Bijlmerplein 888, 1102 MG Amsterdam.

Limits

The limits and usage restrictions, which apply to the use of Twyp as set out in Clause 6.

One-time code

A code consisting of 6 digits, which the User receives by SMS after joining Twyp. You'll need this code to activate the Account.

P2P Payment

The transfer of E-Money between two Users, which can be initiated by either party.

Personal code

The Personal Identification Number consisting of 4 digits, which is chosen and provided by the User when joining Twyp. You'll use this code to confirm all of your transactions within Twyp.

Redeem / Redemption

The exchange of the monetary equivalent of any or all of the E-Money from an Account into Euros that will be transferred to the User’s IBAN. In the App you can opt for Redemption by using the ‘Withdraw’ option.

Security code

A code consisting of 4 letters and 2 digits, which the User receives via email after joining Twyp. For security reasons, Twyp may ask you for this code if you want to change your Personal code within the app.

Services

The services related to the App, which include:

  • the provision of an Account which can be Topped up with E-Money;
  • the possibility to transfer P2P Payments between Users;
  • the possibility of Redemption by a User to his IBAN; and
  • a chat function that allows Users to send text messages to each other.

Terms and Conditions

These Terms and Conditions of Twyp which govern the use of Twyp.

Top up

The purchase and crediting of E-Money to an Account.

Transaction

A P2P Payment, Top up and/or a Redemption relating to an Account.

Twyp

The brand name and trading name of ING Bank N.V. used for the Twyp E-Money based P2P Payment application or the App together with the Services.

User / You

The individual holding an Account.

3 App functionality and system requirements

3.1 Functionality of the App

Twyp allows P2P Payments and chats with the contacts in the contact list of your phone. For this purpose, Twyp requires (your permission to) access your contact list. If you deny permission, you cannot use Twyp for initiating P2P Payments or chats.

3.2 System requirements

To be able to register for the App you need a smartphone connected to a telecom network. To be able to download and use the app you need a smartphone connected to the Internet via a telecom network or wifi. The App is available for Android and iOS operating systems. You will have to be subscribed to the Apple and/or Google Play Store).

3.3 Availability

We strive to ensure that the Services are available to you at all times. But it may occur that the Services are not available for use by one or more Users, e.g. in the case of maintenance, fraud or suspected fraud or a fault in the equipment, software or infrastructure necessary to offer the Services. Twyp reserves the right to temporarily suspend or block the availability of the App and the Services. You should therefore take measures to prevent or minimize the consequences of any unavailability of Twyp.

4 Registration, information and right of withdrawal

4.1 Registration

After downloading the App on your smartphone, you need to register with Twyp by providing the following information:

  1. Your personal and active telephone number from a country in which Twyp is available in the Apple App Store and/or Google Play store;
  2. A Personal code for your Account, which you choose yourself;
  3. The One-time code (OTP) provided by Twyp;
  4. Your first and last name;
  5. Your personal and valid email address to which you have access.

During the activation process, you will receive an SMS from Twyp containing the One-time code, which is necessary to activate the Account.

4.2 Information requirements

Requirements providing information

Twyp provides the Services based on the information you provide. You shall provide accurate and complete information that is not false or misleading. You will not provide details relating to any name, IBAN or Card that you are not (legally) authorized to use. Twyp reserves the right to validate and verify the information you provide.

You will not attempt to transfer funds from a Card or Redeem E-money to an IBAN that you are not (legally) authorized to use. Twyp takes any violation of this requirement seriously and will treat any such attempt as a fraudulent act.

Validation of provided information

Twyp may validate if the information you provided is correct and determine whether there may be objections to providing Twyp to you. For example, bechause you have not provided all information requested by Twyp in accordance with anti-money laundering regulations. Twyp may check all personal and identity verification information with credit reference or fraud prevention agencies and other relevant organizations. These agencies may keep a record of your information and the searches made.

Requirements photos and chat function

The Services allow you to submit profile photos and provides a chat function through which you can send messages. Your photos may be hosted, shared, and/or published as part of the Services, and may be visible to other Users who have your telephone number in the contact list of their phone. You may not send photos and messages that are copyrighted or otherwise subject to third party intellectual property rights, including privacy rights, unless you are the owner of these rights or have permission to use these materials. You agree that you will not use the chat function to send photos or messages that could damage Twyp or any third party or that is unlawful, offensive of any nature or that is otherwise inappropriate. Twyp reserves the right to remove photos and other communications submitted by you that (may) infringe any right of Twyp or any third parties, such to the sole reasonable discretion of Twyp.

4.3 Changing personal details

4.3.1 Changing general information

You must keep the information provided in accordance with Clause 4.1 up to date at all times.

You can change to another smartphone with a suitable operating system and use Twyp on that phone, if you keep the same telephone number. You will be able to retrieve the information and balance you had on your previous smartphone by downloading the app on your new smartphone and following the recovery process.

You can change your email address by changing it in the App. For security reasons, we may ask you for your Security code. You'll receive this code via email after joining Twyp. Using your Security code, you can prove that you're the one making the change, not someone else.

In case you forget your Personal code, you may change it in the App. For security reasons, we may ask you for your Security code. You’ll receive this code via email after joining Twyp. Using your Security code, you can prove that you’re the one making the change, not someone else.

4.3.2 Change of Card and/or IBAN

You may change the number of your IBAN and/or Card details within the App. You can change the number of your IBAN maximum three times in a calendar year. You are only allowed to use IBAN’s that you are legally authorized to use.

4.3.3 No change of telephone number

You cannot change the telephone number connected to your Account. If you wish to use a different telephone number, you will need to register a new Account. However, as you are only permitted to have one Account, a new Account can only be opened after the existing Account has been terminated. You will need to Redeem your balance before changing or cancelling your telephone number in accordance with Clause 8.2. If you have changed your telephone number while there was still E-Money on your account, you should contact Twyp Customer Service by calling +31 20 591 89 99.

4.4 Right of withdrawal

You have the right to rescind the opening of your Account within fourteen (14) days of the date of opening the Account by calling Twyp Customer Service on +31 20 591 89 99. If you have E-Money on your Account, you are responsible to Redeem the E-Money to your IBAN before exercising this right. If you do not have an IBAN connected, Twyp will contact you on the email address that you have provided.

5 Use of Twyp

5.1 Top up

5.1.1 Process

You can Top up by connecting a Card to your Account by entering the Card number in the App. If you have downloaded Twyp in the Dutch Apple and/or Google Play Store, you can also Top up your Account with iDEAL. You can only make Top ups in Euros. After receipt of the funds Twyp will issue and make available the E-Money to your Account at par value. This means the Account will be credited by amount in E-Money equivalent to the amount in Euros.

You can either choose to Top up by transferring a single amount from your Card, or – once the option is availble - you can opt for an Automatic Top up. By using the Automatic Top up function, you can make a P2P Payments even if your balance is insufficient, provided you have a Card connected to your Account. The shortage for a specific P2P Payment is automatically Topped Up to your Account prior to execution of the P2P Payment. After a successful Top up, the P2P Payment will be executed and completed.

5.1.2 Chargebacks

Twyp reserves the right to close your Account in case of a falsely made Card chargeback and will hold you liable for any damages in such event.

5.2 P2P Payments

5.2.1 Process

You can transfer E-Money from your Account to Accounts of other Users in the contact list of your phone, either by initiating a chat conversation and clicking the coins symbol or by selecting an already existing chat conversation and clicking the coins symbol. To make a P2P Payment, you need to enter a) the exact amount to be transferred and b) your Personal code, after which the amount is transferred to the receiving User. Entering the Personal code establishes consent to execute the payment transaction, which cannot be withdrawn or revoked. The payment amount will be credited to the Account of the receiving User and debited from your Account near real time.

Once this option is available, you can also transfer E-Money from your Account to non-Users in the contact list of by initiating a chat conversation, sending an invitation to download and register for an Account, and then clicking the coins symbol. You will need to enter a) the exact amount to be transferred and b) your Personal code, by means of which you agree that the amount is debited from your Account in real time and conditionally transferred to the prospective User. If the invitation is not accepted after seven (7) days, you will receive a notification and the transferred funds will be refunded (credited) to your Account.

5.2.2 Refusal of P2P Payments

A P2P Payment can be refused by Twyp if there is reasonable ground to believe that a User acts in breach of these Terms and Conditions or that a P2P Payment is potentially suspicious or illegal. Twyp shall inform you as soon as possible in case of refusal of your P2P Payment, unless this is prohibited by law or by one of our regulators.

5.2.3 Refunds of P2P Payments

You are entitled to claim a refund in relation to a P2P Payment - in case Twyp was responsible for the incorrect execution of the P2P Payment and/or when you did not authorize the P2P Payment - if you notify Twyp in accordance with Clause 7 as soon as you come aware of this and within thirteen (13) months of the debit date. A claim for a refund will not be accepted in the event of fraud, willful misconduct, negligence or breach of these Terms and conditions or applicable laws and regulations.

5.3 Redemption

You can Redeem E-Money by providing Twyp with your IBAN number in the App and making a Redemption request. You will need to enter a) the exact amount to be Redeemed and b) your Personal code, after which Twyp will transfer the amount via a SEPA credit transfer to your IBAN. Entering the Personal code establishes consent to execute the Redemption and related payment transaction, which cannot be withdrawn or revoked. The Redemption amount will be debited from your Account near real time. Twyp shall not be liable for delays in the execution of the Redemption and related payments if those delays are caused by any third party.

Once this option is available, you can configure the option of Automatic Redemption, as a result of which any payment received on the Account will automatically be Redeemed and transferred to the IBAN.

5.4 Confirmation of Redemption

Any Redemption will be confirmed by an email sent by Twyp to your email address. You should check your email regularly.

5.5 Access to Transaction history and balance

You can access your Transaction information and balance by accessing the Transaction history section in the App. You should check your Transaction history on a regular basis.

5.6 Chat function

You can use the chat conversation to exchange messages with other Users in the contact list of your phone.

6 Limits

You can make Transactions subject to the following limits:

  1. Account balance: the maximum amount of E-Money you can hold in your Account at any point in time is € 999;
  2. Redemption of E-Money: you can Redeem a maximum of € 999 per calendar year;
  3. Sending E-Money: the maximum amount of P2P Payments you can send per calendar year is € 999.
  4. Receiving E-Money: the maximum amount of P2P Payments you can receive per calendar year is € 999.

7 Security, theft and loss

7.1 Security

Your Account is strictly personal. You are responsible for the security of your Account and shall take all measures required to keep your Account, your Personal code and your Security code safe and strictly secret. Twyp considers any Transaction as authorized by you. If someone else makes Transactions using your credentials, Twyp is entitled to see this Transaction as authorized by you and may not be responsible for any loss or damages you may incur.

You shall take note of all information provided by Twyp in relation to the secure use and the measures that you must take to prevent fraud or other misuse, including but not limited to the information set out in Annex II to these Terms and Conditions. If you have any indication or suspicion that your Account, Personal code or Security code are known by others, you must block your Account immediately in accordance with Clause 8.

E-Money should be treated like cash money. Therefore it is important that you take all security measures as provided by Twyp.

7.2 Theft and loss

You shall block your Account in accordance with Clause 8 and notify Twyp without undue delay by calling Twyp Customer Service on +31 20 591 89 99 upon becoming aware of:

  1. any loss, theft, misappropriation or unauthorized use of your Account, your Personal code and/or your Security code and/or the connected smartphone; or
  2. a technical incident or any other fault which might jeopardize the security.

Upon receipt of a notification Twyp shall block your Account to prevent any (further) misuse. Any delay in notifying or a failure to notify Twyp constitutes gross negligence by you.

Furthermore, you shall report the incidents listed under a) to your telecommunication network provider, the police and/or any other relevant authorities.

8 Blockage and termination

8.1 Blockage

You can request Twyp to block and unblock your Account. You must request blockage in situations described in Clause 7.2 occur. Unblocking your Account can be done by calling Twyp Customer Service on +31 20 591 89 99.

Twyp may block your Account at any time, where possible by giving you prior notice by email. Reasons for blockage can be: concerns about the security of your Account, suspected fraudulent use or other illegal activities, suspected breach of these Terms and Conditions or if Twyp needs to block your Account to comply with applicable laws or regulations. A blocked Account will be unblocked after the reasons for blockage cease to exist.

8.2 Termination

8.2.1 Termination by you

You can request to terminate your Account at any time by selecting the option ‘Delete Twyp’ in the Settings section of the App. The termination can only be executed if there is no balance on your Account. Thus before being able to terminate you must Redeem all of your E-Money that is in your Account. Termination of your Account does not mean that all the related personal data will be deleted. Twyp will retain some of this data, including the history of your P2P Payments (without the contents of your chat conversations or profile pictures) for a minimum period of seven (7) years or any other period as required by law.

8.2.2 Termination by Twyp

Twyp can terminate your Account for any reason by giving two (2) months prior written notice to the email address provided by you.

If Twyp terminates the relationship, Twyp shall inform you of the reason for termination upon request. Reasons for termination can be, but are not limited to:

  1. your breach of these Terms and Conditions;
  2. an eighteen (18) month consecutive period of inactivity on your Account.

In case of a breach of these Terms and Conditions, the two (2) months prior written notice will not apply. Prior to terminating your Account after an 18 month consecutive period of inactivity on your Account, Twyp will attempt to contact you via your last known contact details.

8.2.3 Process upon termination

In case of termination by Twyp, Twyp shall request that you Redeem the remaining balance to your IBAN. Twyp reserves the right not to execute a request for Redemption if the reason for termination prevents this.

If you have not provided an IBAN in the App, Twyp will contact you via your last known contact details.

9 Death

In case of your death, the person(s) authorized to perform (legal) acts with regard to your estate can contact Twyp Customer Services (by calling +31 20 591 89 99) to Redeem the outstanding balance (if any) and terminate the Account. As long as Twyp has not been notified of a death, Twyp may (continue) to execute orders relating to the Account.

Twyp can demand that the person or persons who claim to be authorized to perform (legal) acts with regard to the User’s estate submit an attestation of admissibility to the estate, issued by a notary, and/or documents that Twyp deems to be acceptable as proof thereof.

10 Liability, warranties and disclaimers

10.1 Liability

10.1.1 Your liability - general rule

You are liable to Twyp for all damages if you do not comply with these Terms and Conditions. Twyp reserves the right to take legal action against you.

10.1.2 Your liability - Damages arising prior to notification

Your liability shall not exceed € 150 (per event) for damages that:

  1. arose prior to your notification in accordance with Clause 7, and
  2. are caused by the loss, theft, misappropriation or unauthorized use of your Account, your Personal code, your Security code and/or your smartphone,

unless these damages have been caused by your fraud, willful misconduct, gross negligence or breach of these Terms and Conditions or breach of laws and regulations.

10.1.3 Our liability

In no event shall Twyp, Twyp’s affiliates, agents and subcontractors be liable for any claim, loss or damage suffered or incurred by you or any third party except when this directly results from Twyp´s willful misconduct or gross negligence. Under no circumstances shall Twyp, Twyp’s affiliates, agents and subcontractors be liable to you or any third party for any indirect, incidental, special or consequential damages, including but not limited to loss of profits.

Twyp is not liable for any failure in the functioning of the App or the unavailability of the underlying services, in part or full, for any cause that is beyond Twyp’s reasonable control. This includes, in particular, any suspension of the App resulting from maintenance and upgrades to Twyp or systems or the systems of any party used by Twyp to provide the App, outages on any telephone network or in the event there is no mobile coverage.

Twyp shall not be liable for losses resulting from faults affecting the use of the App, except where such losses are attributable to deliberate action or gross negligence on the part of Twyp.

If Twyp is liable towards You, than Twyp shall not be liable for more than the amount that is on your Account on the date that the liability arose. 1

10.2 Warranties, disclaimers and Indemnity

Twyp provides no representations, guarantees or warranties of any kind as to Twyp´s functionality or the accuracy of the information shown in the App.

Twyp assumes that you have determined prior to downloading the App and opening your Account, that the opening of your Account does not breach any laws or regulations in your country of residence or jurisdiction. You warrant that your use of Twyp does not breach any laws or regulations and indemnify Twyp, its affiliates, agents and subcontractors from and against any liability that may arise from your use of Twyp.

You download the App and use the Services at your own discretion and risk, and you are responsible for any damages to your smartphone or loss of data that results from the download of the App or use of the Services.

11 Intellectual property and user license

Copyright and all other intellectual property rights in and to the Twyp name, Twyp logo, Services, Twyp website and the Twyp App are vested in Twyp. Unless expressly stated in these Terms and Conditions or with Twyp’s written consent, any use, reproduction, modification, distribution by Users and/or others is prohibited.

You are hereby granted a non-exclusive license. not transferable, free of charge, to use the App and the Services. You are not allowed to copy, reproduce, modify, sell or otherwise exploit, distribute or create derivative works from the App nor from any content, code, data, graphics or materials related to or included in the App.

12 Privacy policy

The Privacy Statement as set out in Annex I forms part of these Terms and Conditions. By agreeing with these Terms and Conditions, you agree to the Privacy Statement.

13 Term and changes to the Terms and Conditions

The agreement regarding the use of the App and the Services is concluded for an indefinite period of time.

Twyp reserves the right to change these Terms and Conditions from time to time. You will be notified of material changes through the App and by email at least two (2) months in advance of the amendment. Any material change will not take effect until two (2) months after notification. If you do not agree to the changes, the only recourse is to discontinue Twyp in accordance with Clause 8.2 (Termination). If you have not objected within two (2) months after the notification, you will be deemed to have accepted the changes.

14 Complaints

14.1 Internal complaint procedure

Twyp has an internal complaint procedure. Twyp will handle complaints efficiently and as soon as reasonably possible. If you have any complaints regarding the execution of these Terms and Conditions by Twyp you need to submit them in writing to support@twyp.com and include the following information:

  1. your User name, telephone number and email address; and
  2. a description of your complaint.

14.2 KiFID

If you are still unsatisfied after the complaint procedure, you can refer your complaint to Financial Services Complaints Institute (Klachteninstituut Financiële Dienstverlening, KiFiD) within three (3) months after the completion of the complaint procedure with Twyp. You can contact KiFID via:

Postbus 93257

2509 AG Den Haag

www.kifid.nl KiFiD may charge you for handling your complaint.

5 Outsourcing and assignment

15.1 Outsourcing

Twyp may make use of third parties and may outsource activities to execute any or all of the Services. Twyp takes the necessary care into account in the selection of third parties.

15.2 Assignment

You cannot transfer or assign your rights or obligations arising out of or in connection with these Terms and Conditions and any licenses granted hereunder.

Twyp may assign any or all Services to a third party at any time without restriction, by giving you sixty (60) days prior written notice to the email address you provided. By agreeing to these Terms and Conditions, you give permission in advance for the assignment of your agreement with Twyp to any (third) party. Twyp takes the necessary care into account in the selection of third parties.

If Twyp assigns the Services to a third party, Twyp may transfer your outstanding balance to a new account with this third party. Prior to transferring the E-Money, Twyp shall give you two (2) months’ notice, which notice shall include the new account arrangements and the new account terms and conditions. If you do not agree to the transfer, Twyp will terminate your Account in accordance with Clause 8.2 (Termination). Unless you advise us within the two months period that you object, you agree that Twyp can automatically transfer the unused balance on your Account.

16 Jurisdiction, applicable law and language

These Terms and Conditions, including any non-contractual obligations arising out of or in connection with it, are governed by and construed in accordance with the laws of the Netherlands.

Any disputes arising out of or in connection with these Terms and Conditions which could not be resolved using the internal complaint procedure set out in Clause 14, will be adjudicated exclusively by the competent court in Amsterdam, the Netherlands.

These Dutch Terms and Conditions are provided and executed in the Dutch language. If the Dutch Terms and Conditions will be translated in other languages, the Dutch language version shall prevail in the event of any inconsistencies between the versions.

ANNEX I: Twyp Privacy Statement

1. Introduction

Twyp is an E-Money based peer-to-peer mobile payment app. With Twyp, you can send and receive E-Money to and from other Users. You can see your payments and E-Money you receive in your Transaction history.

To perform the Services in the best possible way we process your personal data. Of course we handle your personal data with great care complying with privacy laws and regulations.

Hereafter we explain what personal data are, which personal data we process and for which purposes.

2. Personal data

Personal data are data relating to an identified or identifiable natural person. For instance, your name, address, birth date and telephone number.

The personal data we process are:

  1. Your name, phone number and email address for registration to the App.
  2. Your Transactions, payment messages and chat messages to process your payment Transactions.
  3. Your profile picture for showing it in the App.
  4. Your photo(s), if you send a message with one or more pictures attached. We will then need access to your photo gallery to be able to process your message including the picture(s).
  5. The telephone numbers in the contact list of your phone to process payments and messages between you and other Users.

3. Legitimate purposes

We process your personal data with the utmost care. The legitimate purposes we process your personal data for are:

  • Performing the agreement: registration to the App and processing payment transactions and exchange messages;
  • Business Process Execution: analyzing data regarding the use of the App to enhance the App, product development and management reporting;
  • Marketing: processing your personal data for promotional activities;
  • Compliance with legal obligations; and
  • Safety and security: in order to protect your assets we might block the App in case of suspicion of fraud and/or abuse of the App.

4. Data transfer to third parties

In case of compliancy with legal obligations we may be required to provide personal data to third parties like regulators. ING may furthermore transfer your personal data to its (other) business units, branches and/or subsidiaries within the EU for the purposes as referred to in these Terms and Conditions. You may find these business units, branches and/or subsidiaries on ING website www.ing.com

If Twyp make use of third parties an/or outsources activities to execute any or all of the Services, Twyp may provide third parties with any information regarding Users for these purposes.

5. Personal offers

We may process your personal data for promotional activities. Based on data like your use of the app, transaction data, and visiting our website, we can make personal offers. As the App is owned and provided by ING, we may also process your personal data for promotional activities from ING. This means that ING can offer you its financial products and/or services.The emails you receive, will contain an unsubscribe option (opt-out clause) for receiving these messages.

6. Data retention

To comply with legal obligations and for you to see your Transactions and messages we retain your personal data. We retain your Transaction data and messages for 13 months. Your name, email address and telephone number will be retained for a maximum of seven (7) years after you have terminated your account, or any other period as may be required by laws or regulations. The Transaction data and messages you retain on your telephone are independent of the retention periods that we maintain.

7. Your account

If you delete the App from your smartphone, your Account is still active. If you re-install the App, you can retrieve your Transaction history and messages.

If you terminate your Account, all data will be deleted from your smartphone. If you want to use the App again, you will have to register and install the App from the start. Once your Account has been terminated, you cannot retrieve your Transaction history and messages.

8. Your rights

It is possible that you want to adjust your data. Please find below your rights and how you can adjust your data.

  1. Right to access personal data: if you want to know which personal data we process, you can use your right to access your personal data by sending an email to Twyp on support@twyp.com.
  2. Right to correct personal data: if your personal data is not correct, you can adjust data such as your email address yourself or contact Twyp. You can also send an email to support@twyp.com.
  3. Right to refuse commercial offers (opt-out): if you do not want to receive commercial offers, you can use the opt-out link in the commercial email you received. You can also send an email to support@twyp.com.

9. Cookie Statement

We may use tracking cookies or similar technologies in the App, for instance for identifying your smartphone. If we process personal information, we will request your consent. We may also use tracking cookies or similar technologies on the Twyp website

When you visit the Twyp website, Twyp collects standard log information and details of visitor behaviour patterns. Twyp does this to operate the website correctly, to collect statistical information on the use of the website, and to ensure compliance with mandatory legal requirements. The website collects and stores some visitor information about how the website is used, such as date and time of day you access our website, browser type, browser language, the Internet Protocol (IP) address of the computer you are using, number of hits, the pages visited, previous/subsequent sites visited and length of user session.

The information mentioned above is gathered by using cookies and similar technologies (hereafter ‘cookies’). A cookie is a small text file that is stored by your browser on your computer. On each subsequent visit to the website, the browser searches for cookies. If the browser finds cookies, it sends the information stored by the cookie to the website. The website downloads cookies on your computer, tablet or mobile phone which are strictly necessary for the functioning of the website, such as cookies that ensure that you can retrieve information on the website quickly, and cookies that are strictly necessary to provide a service which has explicitly been requested by you, such as a cookie that remembers your cookie settings. To download cookies that are not strictly necessary, such as cookies for gathering statistical information, Twyp needs your prior consent.

If you have adjusted your cookie settings so that websites are not permitted to place cookies on your computer, the Twyp website may not be able to download the cookie which remembers whether or not you consented to the placing of cookies. If so, you will be asked to indicate your cookie preferences each time you visit the website. If you do not wish to be asked about your cookie preferences each time you visit the website, you need to adjust your browser’s cookie settings.

This Privacy and Cookie Statement may be modified from time to time to comply with applicable laws or to reflect our updated business practices, so please check this Privacy Statement periodically for any changes.

10. Changes

We can change our Privacy Statement. Any change will be done in accordance with Chapter 13 of the Terms and Conditions.

11. Regulatory information

The App is provided by ING Bank N.V. (‘ING’) under the trademark Twyp. ING has its statutory seat in Amsterdam at Bijlmerplein 888, 1102 MG, The Netherlands, Chamber of Commerce Business register no. 33031431. ING is licensed and registered with the Dutch Central Bank (De Nederlandsche Bank, ‘DNB’) (in the register supervised undertakings) and the Authority Financial Markets (Autoriteit Financiële Markten, ‘AFM’) (in the register financial service providers). ING is under supervision of DNB, the European Central Bank (‘ECB’), the AFM and the Dutch Authority Consumer & Market (Autoriteit Consument & Markt, ‘ACM’). Information regarding supervision of ING can be obtained from the websites of DNB (www.dnb.nl), AFM (www.afm.nl) and ACM (www.acm.nl).  

Annex II: Security rules

It is absolutely vital to observe these security rules in order to use the Twyp Services safely. Failure to do so may cause liability for the resulting losses.

1. General

Always handle your Account, Personal code and Security code with care to prevent unauthorized use. You must always keep your Account, Personal code and Security code in a safe place and be vigilant when using them. Take immediate action to block your Account whenever you suspect something is wrong. Also stay informed of the latest information from Twyp about any fraud prevention measures you are required to take. Remember: you are obliged to take the measures prescribed by Twyp to prevent unauthorized use.

2. Keep and use the Account safely and always be vigilant

Always keep your smartphone with your Account in a safe place:

  • keep your smartphone with your Account out of other people’s sight when you do not need it;
  • ensure that your email address cannot be used by third parties and that you always have access to your email yourself;
  • remove the App from your smartphone if you give it to a third party for repair or for another reason;
  • if your Account is used in a public place (e.g., train, aircraft or restaurant), your smartphone must be positioned so that the screen cannot be viewed by others
  • be vigilant and make sure you do not lose your smartphone;
  • do not hand over your smartphone with your Account to anyone;
  • never use your Account when you know or suspect that the situation is not safe, and
  • never let yourself be distracted while using your Account.

3. Keep your Personal code and Security code safe

You must always keep your Personal code and Security code safe. Your codes are only safe if you:

  • choose a Personal code that is not easy to guess;
  • do not write down your Personal code and Security code, but memorize them, or
  • if you really cannot memorize your codes, make sure others cannot decipher the written note you keep of your codes;
  • never keep a note of your codes in the same place as your smartphone with your Account;
  • never reveal or show your codes to anyone, not even to Twyp employees, your partner, children, family, friends, housemates, business representatives or to employees of your bank.

4. Always use your Personal code and Security code safely:

  • make sure others cannot see your Personal code and Security code, e.g. when entering them;
  • always use your free hand and body to shield the keypad when entering the codes;
  • accept no assistance from anyone when entering the codes;
  • if you are no longer sure your Personal code is safe (for example in case you know or suspect that someone else knows or has seen your code), block your Account and/or change your Personal code immediately. Call customer service via +31 20 591 89 99 if you know or suspect that someone else has discovered or seen your Security code.

5. As with your Personal code and your Security code, you must also use and keep your One-time code safely. You'll receive this One-time code by SMS and use this code for registration purposes.

You are obliged to take the measures prescribed by Twyp to prevent any unauthorized use of all of your personal codes. You may not pass on these codes on websites of any parties other than Twyp. You may never reveal your codes to anyone else, not even to employees of Twyp.

6. Security requirements for your smartphone, software and connection

To gain access to Twyp, you need an Internet connection, as well as a suitable smartphone and software. You must make sure your smartphone, software and connection is protected by security software. If you use a wireless internet connection, make sure this connection is protected. If your smartphone is infected with harmful software, this software must be removed so that your smartphone can be used safely again prior to using the App.