Unique Account Number Terms of Use
Topper Unique Account Number Terms of Use
UPHOLD IS NOT DEPOSITORY FINANCIAL INSTITUTION OR A BANK. THE FUNDS RECEIVED USING YOUR UAN ARE NOT HELD WITH UPHOLD. THEY ARE HELD IN A SEGREGATED ACCOUNT WITH A REGULATED FINANCIAL INSTITUTION IN THE NAME OF UPHOLD AND FOR THE BENEFIT OF OUR CUSTOMERS THAT USE UANS. THIS ACCOUNT IS USED EXCLUSIVELY FOR THE PURPOSE OF HOLDING AND PROCESSING CUSTOMER FUNDS, WHICH ARE CREDITED OR DEBITED TO YOUR TOPPER ACCOUNT AS APPROPRIATE.
By creating and using a UAN, you agree to follow and be bound by these Terms of Use and your Topper ToU, including any policies referenced herein and therein. You also agree that you have read and agreed to the Unique Account Numbers FAQs.
1. Funds received using your UAN
1.2. Your funds being held using your UAN is not the same as your funds being held directly in a bank. We do not use your funds to invest or lend to other persons or entities or for any operational purposes of Uphold. Your funds held using your UAN will not earn or accrue any interest, nor are they insured.
1.3. As a regulated entity under EU’s E-Money Directive (“EMD”), Uphold is obligated to ensure that appropriate organizational arrangements are in place to protect and safeguard your e-money funds. Accordingly, we ensure that the GBP or EUR funds that Uphold holds on your behalf are always kept separate from the funds that we use to operate our business, and that they would be kept and treated separately in the event that we should fall into financial difficulty.
2. Creating your UAN
2.2. To use a UAN, you must be verified through our Platform.
2.3. Upon creation of your UAN, details of your UAN will be provided to you.
3. Using your UAN
3.1. You can use your UAN to receive funds from bank accounts under your name.
3.2. The account associated with your UAN may hold balances in the currencies which we make available via our Service.
3.3. You retain a right to any funds received using your UAN until such time as your funds are used or withdrawn (subject to these Terms of Use and your Topper ToU).
3.4. We may close your UAN by giving you 30 days’ notice, where practicable, if:
- you have breached any terms of these Terms of Use;
- your continued use of your UAN would cause us to breach the requirements of any judicial, regulatory or governmental body having jurisdiction over us (or would cause us disproportionate difficulty or cost in complying with such requirements);
- we are required to do so under applicable law or regulation; or
- it is no longer economic for us to provide you your UAN; or
- we offer you another UAN which is (so far as practicable) comparable and is available with us.
3.5. We may close your UAN immediately if:
- we suspect fraud or other criminal or unlawful activity;
- you are in material or persistent breach of these Terms of Use;
- your UAN is being used for a purpose or business with which we do not wish to be associated;
- we are required to do so by law, court order or other regulations;
- you have acted without reasonable care in conducting any business with us; or
- you deliberately provide inaccurate information.
4. Fees
5. Assistance
6. No Guarantee
6.1. We cannot guarantee that a requested transaction using a UAN will not be delayed and you agree that, subject to applicable law, we are not responsible for any issues with respect to such delays. We rely upon third parties for you to fully utilize the UAN. There is a risk that one or more of these parties may not perform according to our agreements with them and you accept those risks.
6.2. We do not make any representations, warranties or other guarantees as to the accuracy or timeliness of your use of the UAN.
7. Third Parties
7.1. You agree to not give anyone else authority over your UAN except under an Enduring Power of Attorney or a Property and Financial Affairs Lasting Power of Attorney that is registered with the Court of Protection. Only in exceptional circumstances will we accept unregistered forms of Attorney or other third-party authorities to operate your UAN.
7.2. You must send the original or certified copy of the Enduring Power of Attorney or Property and Affairs Lasting Power of Attorney documents to us. Both the Donor and Representative will be subject to our standard checks to confirm their identity and address as stated in these Terms of Use.
7.3. We will not be bound to pay interest or recognise the claims of any person other than you in relation to the UAN, except for a trustee in bankruptcy or deputy duly appointed by the Court of Protection.
8. Limitations of Liability
8.1. To the maximum extent permitted by applicable law, you hereby agree that Uphold and/or the financial institution with which your funds are held shall not be liable for any direct, indirect, consequential, special, incidental, punitive or any other damages, even if we have been advised of the possibility of such damage or loss, arising or resulting from or in any way relating to your use of the UAN. Further, Uphold and/or the financial institution with which your funds are held shall not be liable for the acts or omissions of third parties, including but not limited to delays associated with your use of the UAN.
8.2. We and/or the financial institution with which your funds are held will not be liable to you in respect of any losses that you or any other person may suffer or incur in connection with, or relating to your UAN except where such losses are due solely to our acts, errors or omissions. In particular, we and/or the financial institution with which your funds are held will not be liable to you or any other person for any dosses due to:
- your instructions not being sufficiently clear;
- your acts, errors or omissions (for instance, where you have failed to provide correct information or to keep your information up-to-date);
- any actions, limits or regulations imposed by any governmental, regulatory or other official body of any kind from time to time;
- any acts, errors or omissions of a third party.
8.3. We and/or the financial institution with which your funds are held will not be liable for any delay or failure in performing any of our obligations with respect to the UANs where such delay or failure arises because of civil disturbance, strike or industrial action or any other circumstances beyond our reasonable control.
8.4. We and/or the financial institution with which your funds are held will not be liable to you for any losses whatsoever if we are prevented from providing use of your UAN by reason of acts of terrorism, failure of power supplies, interruption or breakdown of mobile phone networks, telecommunications networks or the internet, or the destruction, breakdown or malfunction of any third party systems, equipment or hardware.
8.5. Nothing in these Terms of Use will operate to limit or exclude our liability for any losses where limitation or exclusion is prohibited by law.
9. Miscellaneous
9.1. You agree that you are solely responsible for the use of your UAN and any and all activities that occur with your UAN. You are responsible for maintaining the confidentiality of your UAN and you agree not to share your UAN information with any unauthorized parties. You also agree to notify us promptly of any unauthorized use of your UAN or any other breach of security that you become aware of involving or relating to the UAN by opening a ticket with our customer support team.
9.2. If you create a UAN on behalf of an entity, you confirm that you are an authorized officer of that entity and have the authority to enter into agreements for and on behalf of that entity.
9.3. You represent and warrant that you have full title to and ownership of any currency so transferred using the UAN at the time of such transfer, and such currency is not subject to any liens, security interest or third party claims of any nature.
9.4. We may change these Terms of Use from time to time and at any time, with or without actual notice to you, though we will post notice of changes on our website. You should look at these Terms of Use regularly and your continued use of the UAN constitutes your acceptance of any revisions to these Terms of Use and or your Topper ToU. If you do not agree to the modified terms for these Terms of Use or your Topper ToU, you must discontinue your use of your UAN.
9.5. In the event of a conflict between these Terms of Use and Topper ToU, these Terms of Use shall control.