ozan

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1. These Terms As A Framework Agreement

1.1 These Terms constitute a framework agreement which sets out the terms of (a) You and Us entering into Transaction(s); and (b) the use of the ozan Dashboard. Before You will be able to enter into Transactions with Us You are required to:

  • (a) read these Terms and tick the box online confirming the accuracy of the information provided online and Your agreement with these Terms; and
  • (b) provide Us with such documentation as We may reasonably request to comply with Our obligations to the Financial Conduct Authority (“FCA”) under the Electronic Money Regulations 2011, to HM Revenue and Customs under the Money Laundering Regulations 2007 and to any other competent body which may have jurisdiction in relation to the subject matter of these Terms.

1.2 These Terms incorporate the Website Terms and Conditions, the Cookie Policy, the Privacy Policy and the Website Acceptable Use Policy by this reference.

1.3 These Terms shall come into force on the date You agree to same and shall remain in force until terminated in accordance with these Terms.

1.4 Once You have completed the above and You have passed Our internal checks, We shall make the ozan Account and the ozan Dashboard available to You. By accessing the ozan Dashboard and the ozan Account or otherwise indicating Your consent as set out above, You agree to be bound by these Terms.

2. The Company And The Electronic Money Regulations 2011

2.1 ozan Limited (“ozan”) is authorised by the Financial Conduct Authority (the “FCA”) as an Electronic Money Institution under the Electronic Money Regulations 2011 for the issuing of electronic money. We are included in the FCA’s Register of Electronic Money Institution firms (Firm Registration Number: 900482) which can be found on the FCA website. If You require further information about Our status as an Electronic Money Institution, details are available on the FCA website, www.fca.org.uk. The FCA can be contacted at 25 The North Colonnade, London E14 5HS or on telephone number (+44) (0)20 7066 1000.

2.2 We are also subject to the Payment Services Regulations 2009 (the “Regulations”) which regulate how payments must be transmitted and provide protection when You send money to an account within the European Economic Area (EEA) and the payment is in Euros, Sterling or another EEA-State currency. Although the Regulations only apply to these types of payments, We generally elect to treat all other payments similarly and, in this situation, all the clauses of these Terms apply irrespective of the location of the payer and payee and the currency of the payment unless, expressly excluded under these Terms.

2.3 The address at which ozan is registered is 25th Floor, The Shard, London Bridge Street, London, United Kingdom, SE1 9SG.

3. Opening An ozan Account

3.1 Having or owning an ozan Account must not violate any laws or regulations applicable to You. By opening an ozan Account, You represent and warrant to Us that owning an ozan Account is not in violation of any applicable laws or regulations. You agree to indemnify ozan against any losses incurred related to Your breach of this section.

3.2 Unless expressly approved by ozan You are only allowed to hold one ozan Account. You must be 18 years or older to open an ozan Account. By opening Your ozan Account, You confirm You are 18 years or older.

3.3 At ozan Account opening You will be asked how You intend to use Your ozan Account. If Your ozan Account will be used for commercial purposes You must inform Us at this point. This includes if You intend to use the ozan Account for personal use as well as for commercial use. If at any point You begin using Your ozan Account for commercial purposes You must advise Us. We reserve the right to review Your ozan Account activity and determine, in Our reasonable opinion, if You are using Your ozan Account for Commercial Purposes. If Your ozan Account is used for commercial purposes You will be required to agree to Our terms and conditions for Merchants. If You have any questions or concerns about whether Your ozan Account activity amounts to commercial use, please contact the Customer Loyalty and Success Team at support@ozan.com.

3.4 You may close Your ozan Account at any point within 14 days of Your ozan Account opening. All Fees incurred for the use of Your ozan Account, prior to closure of Your ozan Account will not be refunded.

4. The ozan Dashboard

4.1 The ozan Dashboard is Our online portal where You can:

  • (a) enter into a Transaction, being a Load Transaction, a Send Transaction, a Receive Transaction, an Exchange Transaction or a Withdrawal Transaction;
  • (b) verify Your identity with Us;
  • (c) view current and historical Transactions;
  • (d) view the amount of Electronic Money You hold with Us; and
  • (e) enter Your Customer Bank Account Details and Customer Card Details.

4.2 You have the ability to choose the main currency on Your ozan Dashboard at any time. You can enter into a Transaction at any time. However, depending on Your verification status, customer profile, country of residence or other factors, these Transactions will be subject to ozan Account Limits, details of which will be set out on the verifications tab on the ozan Dashboard. Verifying or further verifying Your identity and details may increase some or all of Your ozan Account Limits. Please note Fees do not apply towards Your annual ozan Account Limits.

4.3 We may deactivate the ozan Dashboard or Your ozan Account temporarily or permanently if We believe the ozan Dashboard or Your ozan Account have been breached, We have concerns over the security of the ozan Dashboard or Your ozan Account or any illegal or illegitimate action has taken place (as identified under Our acceptable usage section), and/or any part of these Terms have been breached. In such an event, unless it is unlawful to do so, We shall inform You by telephone, SMS or by email of the deactivation of the relevant service and the reason for the deactivation as soon as possible.

4.4 If We do suspend Your access to the ozan Dashboard, unless it is unlawful to do so, We may provide You with a new ozan Dashboard Password.

4.5 The ozan Dashboard is accessed through the Website. Your access to the Website is governed by the Website Terms and Conditions. We are not liable in any way if the Website (or any part of it) is unavailable at any time and for any period. It is Your responsibility to make any and all arrangements necessary in order to access the Website.

5. Loads

5.1 You can make a request to enter into a Load Transaction by logging onto the ozan Dashboard, clicking on the “Load Money” section and entering the amount and currency of the money You would like to Load. You will also need to enter or confirm Your Customer Card Details.

5.2 You will be informed, on the ozan Dashboard, prior to confirming Your request to enter into the Load Transaction of:

  • (a) the Customer Card Details which You entered;
  • (b) the amount of money You wish to send to ozan in exchange for ozan issuing You Electronic Money and the currency of the money and Electronic Money; and,
  • (c) the Fees for the Load (if any).

5.3 In order to submit the request to enter into the Load Transaction, You will need to confirm the details which have been entered and that You are happy to pay the Fees by hitting the button entitled “Load” on the relevant part of the ozan Dashboard.

5.4 Your request to enter into a Load Transaction will be accepted when We confirm to You that the Load has been completed either by e-mail, SMS or on the ozan Dashboard.

5.5 Once Your Electronic Money has been issued by ozan, You will be able to view it on the ozan Dashboard.

5.6 The amount of Electronic Money You can be issued is limited by Your ozan Account Limit. The ozan Account Limit will be set out on the ozan Dashboard.

5.7 Payment options for entering into a Load Transaction may vary depending on the country You reside in. We do not guarantee the use of any particular payment method when entering into a Load Transaction for the entirety of Your ozan experience. The methods of Loading may change, new methods may be added and/or current methods removed. Entering into a Load Transaction may incur processing fees from Your payment service provider depending on the method used. You should contact Your payment service provider if You have any queries in this regard.

5.8 Load Transactions go through a screening process. We may entirely at Our discretion reject Your Load Transaction or request further information or documentation before accepting Your request to enter into a Load Transaction or further processing Your Load Transaction.

5.9 If Your Load method allows for chargebacks, You agree not to exercise that right unless We have processed the Load without Your authority. We reserve the right to issue You a chargeback fee of up to 25 EUR as well as charge You for other additional fees if any expenses are incurred in connection with such a chargeback. If You proceed with a chargeback and this results in a negative Electronic Money balance in Your ozan Account, You agree to pay that negative balance immediately with or without notice. Failure to do so may result in legal action or debt collection measures, including the use of a collections agency. If You believe Your ozan Account was improperly used, You may contact Our Customer Loyalty and Success Team for assistance at support@ozan.com and contact police for further action.

5.10 You acknowledge that:

  • (a) You are the only person entitled to perform a Load to Your ozan Account;
  • (b) all payments made from You to Us under these Terms shall be made in full without set-off, counter-claim, deduction or withholding of any kind;
  • (c) We do not accept cash as a means of payment. If We receive payments by cash, the payments will be deemed not to be received; and
  • (d) in the event that any payment made by You or on Your behalf is dishonoured, returned, not met on first presentation or stopped for whatever reason, We may require You to pay Us the actual costs which We have incurred as a consequence of such event.

6. Sending Electronic Money

6.1 You can send Electronic Money to anyone using the ozan Dashboard.

6.2 You can make a request to enter into a Send Transaction by logging onto the ozan Dashboard, clicking on the “Send Money” section and following the on-screen instructions. You will need to enter the Recipients phone number or email address (if available) in order to request entry into a Send Transaction. It is Your responsibility to make sure that the Recipient’s phone number or email address (if available) is entered correctly. Any error in information may result in the Send Transaction being unsuccessful or delayed. We shall not be liable for any losses You incur from entering the incorrect Recipient phone number or email address details.

6.3 You will be informed, on the ozan Dashboard, prior to confirming Your request to enter into the Send Transaction, of:

  • (a) the Recipient’s phone number or email address which You entered;
  • (b) the date of dates upon which You wish the Send Transaction to take place;
  • (c) the amount of Electronic Money You wish to send to the Recipient and the currency of the Electronic Money; and
  • (d) the Fees for the Send Transaction (if any).

6.4 In order to submit the request to enter into the Send Transaction, You will need to confirm the details which have been entered by hitting the button entitled “Send” on the relevant part of the ozan Dashboard.

6.5 If the Recipient is not an ozan Account holder, they will receive an email or SMS with instructions on how to open an ozan Account. The Recipient will need to become an ozan Account holder and accept the Send Transaction prior to or within 15 days of the upon which the Send Transaction is to take place in order to receive the Electronic Money.

6.6 If the Recipient:

  • (a) has 'auto accept payments' activated on their ozan Account, they will automatically receive the Electronic Money provided We have accepted Your request to enter into the Send Transaction.
  • (b) does not have 'auto accept payments' activated on their ozan Account, they will be given an option to accept or reject the Electronic Money which You have requested be sent to them. It is solely up to the Recipient to accept or reject the Electronic Money. If the Recipient:
    • (i) accepts the Electronic Money which You have instructed be sent to them, they will receive the Electronic Money provided We have accepted Your request to enter into the Send Transaction;
    • (ii) rejects the Electronic Money which You have instructed be sent to them or takes no action within 14 days of the instruction, then the Send Transaction will not be entered into.

6.7 Your request to enter into a Send Transaction will be accepted when We confirm to You that the Recipient has accepted the Electronic Money You have requested be sent to him and We have confirmed that the Send Transaction has been accepted by Us. We shall confirm this by e-mail, SMS or on the ozan Dashboard. ozan cannot refund money once it has been accepted by the Recipient and by Us.

6.8 You may revoke Your request to enter into the Send Transaction at any time prior to the later of:

  • (a) acceptance of the Electronic Money by the Recipient; or
  • (b) the end of the business day prior to the date upon which the Send Transaction is meant to take place,

by pressing the relevant button on the relevant part of the ozan Dashboard. If the request to enter into a Send Transaction is cancelled, the Recipient will be notified of same.

6.9 Once Your Electronic Money has been sent, You will be able to view the completed Send Transaction on the ozan Dashboard.

6.10 If the amount of Electronic Money You have requested to send brings the Recipient over its ozan Account Limit, then the Recipient will need to further verify its identity in order to increase their ozan Account Limit and receive the Electronic Money. For the avoidance of doubt, We will not split Send Transactions so that the Recipient receives the amount of Electronic Money up to his ozan Account Limit. If this is not done within 14 days of the request to enter into the Send Transaction being confirmed by You, then the request to enter into the Send Transaction will not be accepted by ozan and the Send Transaction will not be processed.

6.11 The amount of Electronic Money You can send is subject to Your ozan Account Limit.

7. Receiving Electronic Money

7.1 You will be notified by SMS or email once an instruction is made to send Electronic Money to Your ozan Account. Fees may apply when You receive Electronic Money. You will be notified on the ozan Dashboard if You are to pay any Fees for receiving this Electronic Money.

7.2 If You have ‘auto accept payments’ selected, You will automatically send the request to accept the Electronic Money to Us. If You do not have ‘auto accept payments’ activated, You can choose to accept or reject this Electronic Money. If You accept this Electronic Money, then the request to accept the Electronic Money will be sent to Us and if We accept this request You will be notified by SMS, email or on the ozan Dashboard. If You reject this Electronic Money, then You will not receive same and the Sender will be advised of Your decision to reject the Electronic Money.

7.3 Until You have sent Your request to Us to accept the receipt of the Electronic Money, the Sender has the right to cancel its Send Transaction. Please note that if You do not accept the receipt of the Electronic Money within 14 days the Sender’s request to enter into the Send Transaction being confirmed, the Sender’s request to enter into the Send Transaction will be cancelled by Us.

7.4 Electronic Money can only be Received from another ozan Account or by redeeming an ozan Voucher.

8. Withdrawing Money

8.1 You can request to enter into a Withdrawal Transaction by:

  • (a) logging onto the ozan Dashboard and entering the Withdrawal page of the ozan Dashboard;
  • (b) selecting the method of Withdrawal You wish to use; and
  • (c) entering the amount to be Withdrawn together with the relevant requested details which will include the Customer Bank Account Details of the Customer Bank Account You wish to send the monies to or (if available) the Customer Card Details, if these have not already been entered.

8.2 Once You have entered the relevant information, You will be given a chance to review same. Once You are happy that the details You have provided are correct, You should hit “Withdraw” to confirm Your request to enter into the Withdrawal.

8.3 Your request to enter into the Withdrawal will be accepted when We confirm to You that the Transaction has been entered into either by e-mail, SMS or on the ozan Dashboard.

8.4 Withdrawals rely partly on third party financial institutions to be facilitated and as such We cannot guarantee the availability of any specific Withdrawal method. The Withdrawal methods available on ozan are regularly reviewed and updated. We may make changes to or discontinue a particular Withdrawal method at any time as long as there is at least one Withdrawal method available to You.

8.5 Delays in the processing of Your Withdrawal Transaction may occur due to the acts of Your payment service provider or any intermediary service provider. We shall not be responsible for the Withdrawal, once the money subject to the Withdrawal is received by Your payment service provider. Withdrawals may be subject to fees from Your payment service provider and intermediary banks which are outside Our control. We are not liable for any fees that Your payment service provider applies in relation to the Withdrawal. One such fee might be a currency exchange fee from Your payment service provider if You Withdraw money from Us in a currency which is different to the currency of the relevant Customer Bank Account.

8.6 The amount of money You can Withdraw is limited to Your ozan Account Limit and the amount of Electronic Money in Your ozan Account.

8.7 You must not make a Withdrawal to a bank account if You are not the named holder of same. We take any violation of this requirement extremely seriously and will treat any attempt to do so as a fraudulent act. Without prejudice to claiming further damages, if We are required to investigate a Withdrawal to a bank account that is not in Your name, We may charge an administration fee of up to 10 EUR. If Your name has changed We advise You to update Your Account information. You may be asked to verify these changes.

9. Purchases

9.1 You will be able to, when the product becomes available, use your Electronic Money to purchase ozan Vouchers. The purchase of the ozan Vouchers will be subject to separate terms and conditions.

9.2 You will be able to, when the product becomes available, use your Electronic Money to purchase goods and services from Merchants by following the instructions on the relevant Merchant’s website.

9.3 You will be able to, when the product becomes available available, use your Electronic Money to purchase goods and services using the ozan Card. These purchases will not be limited to the Merchants. The use of the ozan Card will be subject to separate terms and conditions.

10. Exchanges

10.1 You can exchange Electronic Money in one currency to Electronic Money in another Currency by using the “Exchange” function on the ozan Dashboard.

10.2 Prior to confirming that You wish to enter into an Exchange Transaction, You need to enter:

  • (a) the currency and amount of the Sale Electronic Money You wish to use to purchase the Purchase Electronic Money; and
  • (b) the currency and amount of the Purchase Electronic Money You wish to purchase.

10.3 The currencies of Electronic Money which You able to purchase are limited to those set out in the ozan Dashboard and are subject to change from time to time without Us being required to provide You with notice.

10.4 You will be informed, on the ozan Dashboard, prior to sending Your request to enter into the Exchange Transaction, of:

  • (a) the amount of Purchase Electronic Money, in the requested currency, You will receive in exchange for the amount of Sale Electronic Money You wish to use to purchase the Purchase Electronic Money;
  • (b) the amount of Purchase Electronic Money You will receive upon completion of the Exchange;
  • (c) the exchange rate of the Exchange;
  • (d) the amount of the Exchange Fee (if any).

10.5 In order to submit the request to enter into the Exchange Transaction, You will need to confirm the details which have been entered by hitting the button entitled “Exchange” on the relevant part of the ozan Dashboard.

10.6 Your request to enter into an Exchange Transaction will be accepted when We confirm to You that the Exchange has been entered into either by e-mail, SMS or on the ozan Dashboard.

10.7 Once Your Electronic Money has been exchanged into the relevant currency, You will be able to view same on the ozan Dashboard and You will be able to send same in accordance with the section entitled “Send Electronic Money”.

10.8 The amount of Electronic Money You can Exchange is limited to the ozan Account Limit. This limitation will be set out on the ozan Dashboard.

11. Acceptable Usage Of Your ozan Account

11.1 You are not allowed to:

  • (a) use Your ozan Account for money laundering, terrorism financing, fraud or other illegal activities. We have the right to check Your Transactions for such activities before or after authorising any Transaction. This includes restricting the return of money to You after You close Your ozan Account;
  • (b) use Your ozan Account for the sale or purchase of any Prohibited Products. We reserve the right to add or remove any new types of prohibited products to the Prohibited Products;
  • (c) use Your ozan Account in breach of any and all local, national or international laws and/or regulations. Please note that online gambling, at the date these Terms were issued is illegal in China, Israel, Turkey and the United States of America. This list may not be complete, You must take it upon Yourself to make sure that You are not breaking any national or international laws when purchasing products or services using Your ozan Account;
  • (d) use Your ozan Account for commercial use unless You have received approval by ozan to do so and You have signed the terms and conditions for Merchants and complied with the relevant Merchant due diligence;
  • (e) register Your ozan Account from a country other than those expressly permissible on the ozan account opening area of the Website. We update the list of permissible countries regularly.

11.2 If any activity in breach of clause 11.1 is identified on Your ozan Account We reserve the right to:

  • (a) deactivate, terminate or suspend, whether temporarily or permanently, Your ozan Account;
  • (b) take any other actions in which We deem reasonably appropriate and lawful including disclosing such information to law enforcement authorities as required;
  • (c) take legal proceedings against You for reimbursement of any and all relevant costs;
  • (d) terminate Your relationship with Us;
  • (e) restrict access to Your Electronic Money;
  • (f) charge an administration fee of up to 150 EUR; and,
  • (g) suspend or cancel any Transaction.

11.3 We do not guarantee the legality of any of Our Merchant's products and services simply because We provide them with the system to accept payment for their goods or services. If You are not sure if a product or service is legal to purchase, do not purchase it and report the Merchant in question to support@ozan.com.

12. Fees

12.1 Our Fees will vary depending on the type of Account You have, the verification level of Your Account, and whether You use Your Account for personal or commercial use. You will always be informed of the Fees You will incur before entering into a Transaction.

12.2 If You enter into Load and/or Withdrawal Transactions You may incur fees from Your payment service provider, including but not exclusively, currency exchange fees if the currency of Your Electronic Money is different to the currency of Your account with the payment service provider. Any such fees are applied by Your payment service provider and We are not responsible for same. You are advised to Exchange Your Electronic Money to the currency of Your Customer Bank Account before You Withdraw money to that Customer Bank Account.

12.3 Our Fees may appear as fixed fees or percentage fees depending on the type of Transaction. Our fixed fees are displayed in Euro and the percentages may have a maximum cap. Fees will be applied to the balance of Your Electronic Money. If You do not have enough Electronic Money to cover the Transaction and the Fees, Your request to enter into a Transaction will be rejected.

12.4 We will always display the Fee for each Transaction before You confirm Your request to enter into a Transaction. If You agree to the Fees and confirm that You wish to request to enter into a Transaction, on Our acceptance of Your request, the Fees will be deducted immediately.

12.5 We may charge a management Fee for holding Electronic Money in your ozan Wallet if You have held Electronic Money in your ozan Account but not entered into a Transaction, accessed Your ozan Account or made a Purchase for 12 consecutive months. This Fee shall be 2 EUR per month.

12.6 We do not guarantee to beat or to match any lower exchange rates from third party sites.

12.7 Our exchange rates may change, due to movements in wholsesale exchange rates, whilst You are preparing Your Order to enter into an Exchange. You need to ensure that You are content with the quoted exchange rate when You confirm Your Order.

13. Data Protection

13.1 The handling of Your personal data is set out in Our Privacy Policy. You promise to provide Us with accurate and complete information while creating Your ozan Account.

14. Liability For Loads, Withdrawals And Send Transactions

14.1 If You believe that a Load, Withdrawal or a Send Transaction has been incorrectly executed or was not authorised by You, You must contact Us as soon as possible via chat, electronic telephone accessible via ozan.com or by sending an email to support@ozan.com. Failure to notify Us immediately on becoming aware or within the 13 months of the date of unauthorised or incorrectly executed Load, Withdrawal or Send Transaction will result in You losing Your entitlement to have the matter corrected.

14.2 Where it is established that a Load, Withdrawal or Send Transaction was not authorised by You and You have notified Us in a timely manner within 13 months of the date of the unauthorised Load, Withdrawal or Send Transaction, unless Clause 14.3 applies, We shall refund to You the full amount debited without authorisation.

14.3 You will be liable for:

  • (a) all losses incurred in respect of unauthorised Loads, Withdrawals or Send Transactions made by Us if You have acted fraudulently, or have intentionally or with gross negligence failed to comply with Your obligations under Clause 17 or you have not notified us on time in accordance with clause 14.1; and
  • (b) where Clause 14.3(a) does not apply, up to £50 of any losses incurred in respect of unauthorised Loads, Withdrawals or Send Transactions where You have otherwise failed to comply with your obligations under clause 17.]

14.4 Except where You have acted fraudulently, You will not be liable for any losses incurred in respect of unauthorised Loads, Withdrawals or Send Transactions which occur after You have notified Us, without undue delay, on becoming aware of the loss, theft, misappropriation or unauthorised use of the ozan Dashboard or the ozan Dashboard Password. You can notify Us by calling Us on via chat, electronic telephone or by emailing support@ozan.com.

14.5 We shall not be liable for non-execution or defective execution in relation to a Load, Withdrawal or Send Transactions which We have made in accordance with a unique identifier (being the Customer Bank Account Details, Customer Card Details and Recipient’s phone number or email address) given to Us by You which proves to be incorrect. However, We shall make reasonable efforts to recover funds involved in that transaction and may charge You for doing so, including passing on to You charges made by intermediary banks and/or the payee’s bank for their assistance in the tracing process.

14.6 We are liable to You for the correct execution of Withdrawals and Send Transactions unless We can prove to You (and where relevant, to any payee’s payment services provider) that the payee’s payment services provider received the payment within the appropriate time period.

14.7 We are liable to You for the correct transmission of a payment order representing a Load within the relevant time limit. Where we are liable, we will immediately re-transmit the payment order in question.

14.8 We shall not be liable to You for any:

  • (a) delay or failure to perform Our obligations under these Terms or any Transaction (including any delay in payment) by reason of any cause beyond Our reasonable control including but not limited to any action or inaction by You or any third party, any Force Majeure Event, bank delay, postal delay, failure or delay of any fax or electronic transmission, any accident, emergency, act of god or any abnormal or unforeseeable circumstances; or
  • (b) consequential or indirect loss (such as loss of profits or opportunity) You may incur as a result of Us failing to perform Our duties under a Transaction; or
  • (c) losses as a result of a requirement imposed on Us by the Payment Services Regulations 2009 or the Electronic Money Regulations 2011 or Our obligations under the laws of any EEA state or other jurisdiction.

14.9 Please note any restriction on Your liability in relation to an unauthorised or incorrectly executed payment transactions set out in the Payment Services Regulations 2009 does not apply to losses in relation to Exchanges.

14.10 The provisions in this clause shall survive termination of these Terms or any Contract.

15. Communications

15.1 Communication from Us

  • (a) We confirm Transactions entered into, profile changes made or changes made to Your ozan Account, via email, SMS or on the ozan Dashboard. It is Your responsibility to make sure that the phone number You provided is working and that SMSs are received and that the e-mail account You provided is functioning and Our e-mails are received. We use html format in Our e-mails. We cannot be held responsible if any loss or inconvenience occurs from Our e-mails or SMS not reaching You or not being legible.
  • (b) We may from time to time send You important notices by SMS or email. Such notices may relate to matters including, but not limited to, service changes and changes to these Terms.
  • (c) For certain issues, We may contact You directly, in person or via Skype. In such cases, We will have verification procedures in place to verify Our identity and Yours.
  • (d) We may send You marketing emails or SMSs from time to time. You may opt out of same at any time. Any and all marketing emails or SMS sent by Us include instructions on how to unsubscribe. If You opt out of receiving SMS’s and emails from Us, it may take up to 15 business days for Your new preferences to take effect.
  • (e) All Transactions will also be logged on the ozan Dashboard along with each Transaction’s unique identification code. When contacting the Customer Loyalty and Success Team, You should have this identification code present to speed up the process. A document noting all or some of the Transactions You have entered into can be e-mailed to You periodically upon request or can be downloaded from the ozan Dashboard in PDF format.
  • (f) Generally, We will communicate with You in English. Any communication in Your preferred language will be made on availability basis and will be considered as a convenience and its continuation will not be guaranteed. Any questions or concerns should be raised and logged with the Customer Loyalty and Success Team at support@ozan.com.

15.2 Communications to Us

All communications should be directed to Our Customer Loyalty and Success Team which can be reached via live chat at www.ozan.com, by filling out Our contact Us form at www.ozan.com/contact-us or at support@ozan.com.

To communicate a complaint to Us, please refer to the “Complaints” section of these Terms.

16. Terms Of Us Holding Electronic Money And Redeeming Electronic Money

16.1 When We hold Electronic Money for You, Us holding the funds corresponding to the Electronic Money is not the same as a Bank holding money for You in that: (a) We cannot and will not use the funds to invest or lend to other persons or entities; (b) Your Electronic Money will not accrue interest; and (c) Your Electronic Money is not covered by the Financial Services Compensation Scheme. The funds corresponding to Electronic Money will be held in one or more segregated bank accounts separately from Our own funds, in accordance with the provisions of the Electronic Money Regulations 2011.

17. Security

17.1 You must take all reasonable steps to:

  • (a) keep Your ozan Dashboard Password safe; and,
  • (b) ensure that access to the ozan Dashboard is kept safe.

17.2 This includes, but is not limited to, for the avoidance of doubt, logging off the ozan Dashboard every time You leave the computer (or other device used to gain access to the ozan Dashboard), not writing down or telling anyone ozan Dashboard Password and changing Your ozan Dashboard Password regularly. If at any time You think that ozan Dashboard Password has been lost, stolen or any other person knows Your ozan Dashboard Password, You must inform the Customer Loyalty and Success Team immediately at support@ozan.com.

17.3 The Customer Loyalty and Success Team may only ask You characters included in the answers to Your security questions, never the full answer. If You receive any SMSs or emails, questionnaires, surveys, or other links that require You to provide Your ozan Dashboard Password, and You are unsure of the source of these messages, do not provide Your information and contact Our Customer Loyalty and Success Team immediately at support@ozan.com.

17.4 You must take reasonable care to ensure that the e-mail account(s) and phone You use to communicate with Us is secure and only accessed by You, as Your e-mail address and phone number may be used to reset Your ozan Dashboard Password or to send You emails or SMSs relating to the security of the ozan Dashboard.

17.5 Irrespective of whether You are using a public, a shared or Your own computer (or other device) to access the ozan Dashboard, You must always ensure that Your login details are not stored by the browser or cached or otherwise recorded. You should never use any functionality that allows username/email address or ozan Dashboard Password to be stored by the computer (or other device used to gain access to the ozan Dashboard) You are using.

17.6 If You notice misuse or theft of Your ozan Dashboard Password, login details, security features or Electronic Money You must contact the Customer Loyalty and Success Team immediately at support@ozan.com. If You suspect identity theft or theft of Electronic Money, We suggest You contact Your local police as well.

17.7 If We suspect such security risks on Our end, We may freeze certain Transactions and/or, certain features of Your ozan Account. We will try to inform You via the phone number or email provided that the information is not compromised. In such cases, We may ask for documentation that verifies Your identity. Even if You have already provided such documentation, You may be required to do so again.

17.8 You must make sure Your e-mail account is secure and that You have provided Your own personal phone number and that the phone is not publicly accessible. This information can be used to change Your Account information and password and can result in identity theft or theft of funds.

18. Verification Of Identity

18.1 We may confidentially verify Customers’ registration and identification details against secure databases. These searches may leave a soft footprint on Your credit history. This will not affect Your credit rating. By entering into these Terms, You confirm that You consent to Us carrying out such verifications.

18.2 We require that You provide certain information to Us in order to open an ozan Account. We may use a third party provider to verify Your identity and will contact You if any additional information is required. You must provide complete and accurate information during Your Account registration for Us to verify Your identity and create Your Account. Any contravention of this may result in delays in Your Account opening.

18.3 Verification of Your identity helps increase Our service security and decrease identity theft. No exceptions will be made to these verification requirements.

18.4 We may contact You from time to time to notify You of changes or information regarding Your ozan Account. It is Your responsibility to ensure Your contact information is up to date. We will not be liable for any losses for Your failure to do so.

18.5 You must ensure the information on Your ozan Account is always accurate and up to date. If at any time We believe that Your information is outdated or inaccurate, We may contact You and request further information or request that You go through the verification process again. Your limits will be adjusted accordingly while We verify Your identify. We shall not be liable for any losses arising out of Your failure to maintain up to date information.

19. Representations And Warranties

19.1 By signing these Terms and entering into Transactions, You represent and warrant both now and each time You make a request to enter into a Transaction:

  • (a) that the details provided during ozan Account opening and on the ozan Dashboard are in every respect true and accurate;
  • (b) that in making a request to enter into a Transaction and/or performing any Transaction:
    • (i) You have power and authority to do so;
    • (ii) You will not breach any law in England and Wales or any other relevant jurisdiction;
    • (iii) that You are the legal and beneficial owner of the monies which is the subject of a Load or the Electronic Money which is the subject of a Send Money Transaction or a Withdrawal Transaction and that these monies are not and shall not become subject to any charge or other security or encumbrance;
    • (iv) that all information supplied to Us is true, complete and accurate in all material respects and You will not omit or withhold any information which would render the information so supplied false, incomplete or inaccurate in any material respect;
    • (v) that You will inform Us as soon as practicable if any of the information provided becomes untrue and/or needs to be updated;
    • (vi) that You contract as principal and not as agent.

19.2 You agree to indemnify Us for any losses We might suffer for breach of the representations and warranties contained within these Terms.

20. Termination Of This Agreement

20.1 You may terminate these Terms by giving one month’s notice in writing to Us. We may terminate these Terms by giving You two months’ notice in writing. The termination of these Terms by the giving of notice shall not affect any Transactions entered into prior to the termination. Any outstanding duties and obligations owing in relation to any Transaction entered into prior to the termination of these Terms shall still be enforceable after the termination of these Terms.

20.2 It is Your responsibility to request that Your Electronic Money is redeemed and the corresponding money sent to the Customer Bank Account when these Terms are terminated.

21. General Limitation And Liability

21.1 We are entitled to rely on all information supplied by You. You agree to indemnify Us for any delays, charges or losses incurred due to errors in information supplied by You.

21.2 We shall not be liable to You for any delay or failure to perform Our obligations under these Terms or any Transaction by reason of any cause which:

  • (a) arises from any electronic, computer or communication failure including the failure of the Website or any such system which belongs to Us or is under Our control; or
  • (b) is beyond Our reasonable control including any Force Majeure Event and/or arises from the act or omission of any third party.

21.3 We shall only be liable for direct losses as a result of Our negligence. An example of such a direct loss is bank fees and loss of interest. We will not be liable for any indirect or consequential loss that occurs as a side effect of the main loss or damage, such as loss of profit, loss of opportunity or special damages whether within the contemplation of the parties or not.

21.4 We do not accept any liability to You for a Merchant providing You with a faulty good and/or service. Our association with the Merchants is for payment services only and Our business partnership does not constitute an endorsement of their products or brands.

21.5 Nothing in these Terms exclude Our liability for fraudulent misrepresentation, death or personal injury or any other liability that cannot be excluded by law caused by Our negligence or the negligence of Our employees or agents.

22. Right Of Set-Off

On the happening of any event which entitles Us to be indemnified and/or compensated by You, We shall be entitled to recover any sum due to Us by way of indemnity, compensation or otherwise by retaining part or all of any sum that You have lodged with Us under any Transaction. You shall have no similar right of set-off.

23. Whole Agreement

These Terms together with any other terms or policies included by reference in these terms constitutes the whole agreement and understanding of the parties and supersedes and excludes all previous oral and written communications in relation thereto. Nothing in these terms is intended to limit or exclude either party’s liability for any statement or representation which has been made fraudulently.

24. Amendments

We may amend these Terms by notice in writing to You at any time. Any such amendment shall take effect from the date specified by Us (which shall be more than two months after notification). If You do not agree to be bound by the proposed amendments, You must terminate these Terms prior to the amendments coming into force. This termination shall not affect the terms of any Transactions entered into before to the termination of the Terms.

25. Severability

If at any time any provision of these Terms is found to be or becomes illegal, invalid or unenforceable in any respect under the laws of any relevant jurisdiction, then this shall not affect the legality, validity or enforceability of such provision under the laws of any other jurisdiction.

26. Non-Waiver

The mere failure by either party to exercise or delay any right or remedy under these Terms does not amount to the forfeiture or waiver of that right, save as expressly set out in these Terms. Save where expressly so provided, the rights provided in these Terms do not exclude other rights or remedies provided by the general law.

27. Consent To Recording Of Telephone Calls

27.1 The parties agree and consent to:

  • (a) the electronic recording by either party of any telephone conversations between the parties with or without the use of an automatic tone warning device or the giving of any other warning; and
  • (b) the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.

27.2 We may in accordance with Our normal record-keeping practices destroy any recording or transcript which We have made of any telephone conversation between You and Us.

28. No Advice

28.1 We do not provide advice and contract on an execution only basis. We may provide information to You from time to time, for example via the ozan Dashboard or the Website, but We will not and do not provide advice to You either upon the merits of a proposed Transaction or upon any other matter.

28.2 Before entering into any Transaction You must therefore make Your own independent assessment as to whether it is appropriate for You to enter into a Transaction based upon Your own judgment and upon such advice from such advisers as You consider necessary. It is an express term of every Transaction which You enter into with Us that You are not relying upon any communication (written or oral) made by Us as constituting advice about or a recommendation to enter into such Transaction. Foreign currency exchange rates are subject to fluctuations outside Our control or the control of any broker. Past movements or trends in the movement of foreign currency exchange rates should not be taken as an indicator of future movements in such exchange rates.

29. Requesting Information

You may request, at any time during the extent of these Terms, a copy of these Terms and any of the information set out in the Schedule 4 of the Payment Services Regulations 2009.

30. Rights Of Third Parties And Non-Assignment

30.1 These Terms do not intend to confer any benefit on any third party and no third party shall have the right to enforce these Terms or any Transaction under the Contract (Rights of Third Parties) Act 1999 or otherwise.

30.2 The Electronic Money in Your ozan Account belongs to the person or legal entity which is registered as the ozan Account holder. We recognise only the rights of the holder of the ozan Account. You cannot assign or transfer legal ownership of the ozan Account to anyone.

31. Intellectual Property

31.1 The ozan Dashboard and the Website and all intellectual property rights contained therein, including but not limited to any content, are owned or licenced by Us. Intellectual property rights means rights such as: copyright, trademarks, domain names, design rights, database rights, patents and all other intellectual property rights of any kind whether or not they are registered or unregistered (anywhere in the world). We reserve all of Our rights in any intellectual property in connection with these Terms. This means, for example, that We remain owners of them and free to use them as We see fit.

31.2 Nothing in these Terms grants You any legal rights in the ozan Dashboard and/or the Website, other than as necessary to enable You to access the ozan Dashboard. You agree not to adjust or try to circumvent or delete any notices contained on the ozan Dashboard (including any intellectual property notices) and in particular in any digital rights or other security embedded or contained within the ozan Dashboard.

32. Applicable Law And Jurisdiction

These Terms and any Transaction between You and Us shall be governed by English law and any dispute under these Terms and/or any Transaction shall be subject to the non-exclusive jurisdiction of the Courts of England and Wales.

33. Complaints

33.1 We take all complaints seriously. Any complaints about Us or the services We provide should be addressed in writing to support@ozan.com, verbally via electronic telephone, submitted via chat or sent to the Compliance Manager at ozan Limited, 25th Floor, London Bridge Street, London, United Kingdom, SE1 9SG. You should clearly indicate that You are wishing to make a complaint to Us. This helps Us to distinguish a complaint from a mere query. We send You a complaint acknowledgement by post or by e-mail within 2 Business Days hours of receiving Your complaint in accordance with Our complaints procedure. You may request a copy of Our complaints procedure at any time by contacting Our Customer Loyalty and Success Team at support@ozan.com.

33.2 A final response to Your complaint, or a letter explaining why the final response has not been completed, will be sent to You within 8 weeks of Your complaint having being made. Should this not be possible due to unforeseen circumstances or lack of information, We will contact You.

33.3 If after having received Our final response You are still unhappy or not satisfied, and You are (a) a consumer; (b) a microenterprise; (c) a small charity or (d) a small trust, then You may be able to take Your complaint to the Financial Ombudsman Service (FOS) details of which are available on the following link www.financial-ombudsman.org.uk/faq/complain.html. You can also call the FOS on 0300 123 9123 or write to: Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.

34. Defined Terms

The defined terms listed below have the following meanings in these terms and conditions:

“Bank Account Details” means the bank account details which We request which will include the Bank’s name, the currency of the Bank account, Bank account holder’s name, country in which the Bank account is located, account number and sort code and in certain circumstances the IBAN and SWIFT code.

“Cookie Policy” means the cookie policy relating to the Website which can be found at www.ozan.com/use-of-cookies

“Customer” and “You” means the person which makes requests to enter into and does enter Transactions with Us;

“Customer Bank Account” means a bank account belonging to You;

“Customer Bank Account Details” means the Bank Account Details the Customer Bank Account;

“Customer Card” means a debit card and/or credit card belonging to You;

“Customer Card Details” means the details of the card belonging to the Customer which are the card holder name, card number, card start date, card expiry date and its CVV.

“Customer Loyalty and Success Team” means Our customer service and management department.

“Electronic Money” means electronically stored monetary value, represented by a claim against ozan.

“Exchange Transaction” means the exchange of Electronic Money in one currency to Electronic Money in another currency and the term “Exchange” shall be construed accordingly.

“Fees” means the fees for entering into Transactions under these Terms.

“Force Majeure Event” means an event which is beyond the reasonable control of an affected party including without limit any market disruption, acts or restraints of government(s) or public authorities, war, revolution, strikes or other industrial action, fire, flood, natural disaster, explosion, terrorist action, the suspension or limitation of trading by any execution venue, or any breakdown, failure, defective performance or malfunction of any telecommunications settlement or other equipment or systems.

“Load Transaction” means You sending Us money to be held by ozan in exchange for ozan issuing Electronic Money to You and the term “Load” shall be construed accordingly.

“Merchants” means merchants who sell goods and/or services and are registered with ozan to accept payment for those goods and/or services.

“Purchase” means using Your Electronic Money to purchase ozan Vouchers, goods or services from Merchants, or using your ozan Card in accordance with the terms of conditions of the ozan Card.

“ozan Account” means Your account with ozan which allows You to request to enter into Transactions with Us via the ozan Dashboard.

“ozan Account Limit” means the limit on the amount of money a Customer can Load and/or Send and/or Receive and/or Exchange and/or Withdraw, the details of which will be set out on the ozan Dashboard.

“ozan App” means the mobile application giving Customers access the ozan Dashboard.

“ozan Card” means a debit card provided by ozan whereby You may withdraw cash from an ATM and pay for goods / services using Your Electronic Money.

“ozan Dashboard” means the online platform, which is available through the Website and the ozan App, giving You access to Your ozan Account, where You can, among other things, view and amend details relating to Your ozan Account, request to enter into Transactions, review historical Transactions, upload the Customer Card Details and Customer Bank Account Details and upload verification documentation.

“ozan Dashboard Password” means the password You require to gain access to the ozan Dashboard.

“ozan Voucher” means a voucher sold by Us which can be purchased redeemed to purchase goods and services from merchants, the terms of use of which are subject to seprate terms and conditions.

“Privacy Policy” means Our privacy policy which sets out how We handle personal data which can be found at www.ozan.com/privacy.

“Prohibited Products” means the prohibited products set out on www.ozan.com/prohibited-products-list which may be amended and updated from time to time.

“Purchase Electronic Money” means the Electronic Money which You purchase in an Exchange.

“Receive Transaction” means You receiving Electronic Money from another individual / entity and the term “Receive” shall be construed accordingly.

“Recipient” means the person/entity to which You wish to send Electronic Money from Your ozan Account be entering into a Send Transaction.

“Sale Electronic Money” means the Electronic Money which You use to purchase the Purchase Electronic Money in an Exchange.

“Sender” means the person who sends Electronic Money in a Send Transaction.

“Send Transaction” means You sending Electronic Money to another individual / entity and the term “Send” shall be construed accordingly.

“Terms” means these terms and conditions together with any other terms or policies referenced in these terms.

“Transaction” means a contract between You and Us for a Load and/or a Send Transaction and/or a Receive Transaction and/or an Exchange and/or a Withdrawal.

“We” or “Us” means the ozan Limited being a company:

  • (a) registered in England with registered number 09561722 whose head office is located at 25th Floor, The Shard, London Bridge Street, London, United Kingdom, SE1 9SG;
  • (b) authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 with registration number 900482.

“Website” means Our general website, the web address of which is www.ozan.com.

“Website Terms and Conditions” means the terms and conditions regarding the use of Our Website which can found at www.ozan.com/terms-and-conditions

“Website Acceptable Usage Policy” means the website acceptable usage policy which can be found at www.ozan.com/acceptable-use-policy

“Withdrawal Transaction” means You redeeming Electronic Money You hold with ozan and ozan sending the equivalent sum of money to You and the term “Withdrawal” shall be construed accordingly.

“You” and “Customer” means the individual/Company/LLP which makes requests to enter into Transactions and does enter into Transactions with Us.