Teto Bank - Terms and Conditions
1. Introduction
These Terms and Conditions (hereinafter referred to as "Terms") govern the use of Teto Bank’s website, services, and products. By accessing our platform, you agree to comply with these Terms. If you do not agree, please refrain from using our services.
These Terms may be updated from time to time. Any changes will be posted on our website, and your continued use of the services constitutes acceptance of the modified Terms.
2. Definitions
Account: The account held in your name linked to your Card, through which you can manage your Card. This includes updating your personal details (subject to availability), adding funds, suspending the use of your Card, and accessing your Card details. Alternatively, you may contact Customer Support to manage your Card. You can access your Account via the Website using your Credentials.
Card Balance: The aggregate sum of funds available on your Card in each Currency. Your Card Balance (split into the Currencies) will be available to view via your Account.
Card Scheme: Refers to Visa, MasterCard, and/or such other payment schemes as may be notified to you by us from time to time.
Currencies: Refers to USD, EUR, GBP and/or any other currency that we may make available in relation to your Card from time to time.
Customer Support: Any services, including call center services, provided by us or our third-party service providers in connection with your Card. Customer Support can be contacted in the following ways: support@tetobank.com
Data Protection Legislation: Refers to all laws in any relevant jurisdiction that relate to data protection, privacy, the use of information relating to individuals, and/or the information rights of individuals. This includes, without limitation, the General Data Protection Regulation (EU 2016/679), and equivalent laws in other relevant jurisdictions, the Electronic Communications Data Protection Directive 2002/58/EC, and the Privacy and Electronic Communications (EC Directive) Regulations 2003, all as amended or replaced from time to time.
Email: The email address you use to apply for your Card and set up your Account.
European Central Bank Exchange Rate: Refers to the European Central Bank exchange rates, which can be viewed at: https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html.
Fees and Limits: The fees we may charge you from time to time for operating and using your Card, as well as the limits applicable to your Card. These are set out under the Fees and Limits Appendix below. We may amend the Fees and Limits in accordance with these Terms.
FX Margin: Refers to [xx]% of the relevant European Central Bank Exchange Rate or such other foreign exchange margin as may be set out in the Fees and Limits.
Merchants: Any merchant which accepts your Card as a form of payment.
Order of Priority: The order in which we will prioritize the use of the Currencies in relation to your Card Balance as listed in clause 4.2(b).
Payment Source: A debit card, credit card, or bank account in your name that you use to add funds onto your Card.
Personal Data: Shall have the meaning given to that term in the Data Protection Legislation.
Primary Payment Card: A Visa or MasterCard debit or credit card in your name that you have opted to link to your Card.
Primary Payment Card Provider: The issuing entity of your Primary Payment Card.
Privacy Policy: Refers to the fair processing notice setting out details of how Teto Bank processes your Personal Data in administering and managing your Card, which was issued to you when you applied for your Card and is available online at www.tetobank.com or by contacting Customer Support.
TPP (Third-Party Provider): A Financial Conduct Authority (FCA) or other European Union regulated authority-authorized, third-party provider of account information services, which can provide consolidated information on one or more of your payment account(s), including but not limited to your Account.
Top-Up on Demand: The adding of funds (subject to your instruction and confirmation) to your Card by us from your Primary Payment Card to complete a transaction where you have an insufficient Card Balance.
Transaction: A transaction for the purchase of online goods or services at a Merchant.
3. Eligibility
To open an account and use our services, you must:
Be at least 18 years of age.
Provide accurate and complete registration information, including your full name, address, and valid identification.
Ensure that your use of the services complies with all applicable local, national, and international laws and regulations.
4. Account Registration and Responsibilities
When creating an account with Teto Bank, you are responsible for:
Providing accurate information during the registration process.
Keeping your account credentials secure. You must notify us immediately if you suspect any unauthorized access or use of your account.
Maintaining updated contact and financial information.
Teto Bank reserves the right to refuse service, suspend, or terminate accounts that breach these Terms or are suspected of fraudulent activity.
5. Services Provided
Teto Bank provides a range of financial services, including but not limited to:
Online Banking: Manage your account, view transactions, and make payments through our secure platform.
Currency Exchange: Exchange between different currencies, including fiat and cryptocurrency.
Money Transfers: Send and receive funds both domestically and internationally.
These services are subject to applicable fees, which are detailed in our Fee Schedule.
6. Fees and Charges
Teto Bank charges fees for certain transactions and services. These may include:
Account Maintenance Fees: Monthly or annual charges for maintaining an account.
Withdrawal Fees: Fees associated with withdrawing funds, especially from blockchain transactions.
Currency Exchange Fees: Charges for converting one currency to another.
We reserve the right to update our fee structure and will provide notice of any changes. You are responsible for paying all applicable fees related to your account and transactions.
7. User Conduct
When using Teto Bank services, you agree not to:
Use the services for any illegal or unauthorized purposes, including money laundering or fraud.
Attempt to hack, damage, or reverse-engineer any portion of our platform or systems.
Upload or share any harmful content, such as viruses or malware, that may compromise the security of our services.
Violations of this section may result in immediate suspension or termination of your account, and we reserve the right to report such activities to law enforcement.
8. Limitation of Liability
Teto Bank is not liable for any indirect, incidental, or consequential damages arising from your use of our services, including but not limited to:
Losses resulting from unauthorized access due to your failure to secure your account.
Service interruptions caused by third-party providers or circumstances beyond our control (e.g., natural disasters, force majeure).
Our total liability, whether in contract, tort, or otherwise, shall not exceed the amount of fees you paid to us in the 12 months preceding the claim.
9. Compliance with AML/KYC Regulations
As a licensed MSB, Teto Bank is committed to adhering to all Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. We may require additional information from you to verify your identity and ensure compliance with these laws.
Failure to provide the requested information may result in the suspension or closure of your account.
10. Termination
Teto Bank reserves the right to terminate your account at any time for any breach of these Terms, legal requirements, or for any other reason deemed necessary.
You may close your account by contacting our support team. Any outstanding fees or obligations must be settled prior to account closure.
11. Governing Law
These Terms are governed by the laws of Canada. Any disputes arising from these Terms or the use of Teto Bank’s services will be subject to the exclusive jurisdiction of the courts of Canada.
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