1.1. These Terms and Conditions for the Use of Swissquote Bank Ltd TWINT mobile application (the "Terms") apply to the use of the services provided to the user (the "User") by Swissquote Bank Ltd (the "Bank") through the Swissquote Bank Ltd TWINT mobile application (the "Swissquote TWINT"). For ease of reading, the masculine form refers to any gender.

1.2. These Terms form an integral part of the existing agreements and terms and conditions between the User and the Bank that apply to the User’s Trading bank account (the "Account") to which Swissquote TWINT is linked.

1.3. These Terms shall be deemed to have been accepted once the User has registered via Swissquote TWINT, but not later than the User’s first use of Swissquote TWINT.

2.1. Swissquote TWINT enables cashless payments via the TWINT payment system operated by TWINT AG ("Payment System Operator"), using a mobile end device (“Mobile Device”).

2.2. Users of Swissquote TWINT can make payments (a) to authorised merchant (“Authorised Merchant”) for the purchase of goods or services (including donations) (“P2M Payments”) or (b) to other people who use Swissquote TWINT or a TWINT app of another TWINT provider (“P2P Payments”).

2.3. The Bank may provide the User with additional services, allowing the User to, e.g. manage and store loyalty cards, receive discount promotions, couponing and similar offers from the Bank or third parties e.g. Authorised Merchants (“Value Added Services”). The User can use these services to collect stamps and redeem loyalty rewards, discounts and credits via Swissquote TWINT.

3.1. Swissquote TWINT must be downloaded from an official download platform. Such download requires a Mobile Device that (i) supports the BLE technology (Bluetooth low energy), (ii) is equipped with a compatible operating system, and (iii) fulfils the requirements as indicated in the relevant official app store. The User must not use Swissquote TWINT on "jailbroken" Mobile Devices.

3.2. The use of Swissquote TWINT requires a secured internet connection.

4.1. To be able to use Swissquote TWINT, the User must use a phone number from Switzerland. The registration process also implies that the Bank transmits the User’s personal information to the Payment system Operator as described in Section 13. In the event of a change in the User’s personal information provided upon registration the User must update it in Swissquote TWINT as soon as possible.

4.2. The User is also required to designate a debit source for payments initiated through Swissquote TWINT (the “Debit Account”), which may be the Account. Such debit source may be in the name of the User or of a third party, provided the User has a power of attorney for this account and has access rights to the Swissquote Trading account.

4.3. A User who holds several accounts with the Bank is authorised to select only one such accounts as the debit source, unless the Bank indicates otherwise.

5.1. To access Swissquote TWINT, the User must use the sign-in procedure indicated in Swissquote TWINT, which may include the combination of a passcode, a fingerprint login or a facial recognition (“Passcode”). The User must not register the biometric characteristics of a third party.

5.2. The User must keep his Swissquote TWINT Passcode confidential. If the User creates a Passcode made up of numbers and other characters, he has to make sure they are hard to guess.

The User must contact the Bank as soon as possible if he suspects any unauthorised use of his Mobile Device, or if his Mobile Device or TWINT Passcode have been compromised, lost or stolen.

5.3. The User must take all appropriate measures to keep his Mobile Device secure. The User acknowledges that using Swissquote TWINT involves certain risks. To mitigate these risks, the User must install updates to the Swissquote TWINT and to the operating system of his Mobile Device as soon as they are available. The User must also refrain from using public Wi-Fi networks to access Swissquote TWINT.

5.4. Should there be reason to assume that unauthorised individuals have gained access to the Mobile Device and display locking functions, these must be changed immediately. If the Mobile Device is lost, and especially in the case of theft, the Bank must be informed promptly. Should losses be incurred, the User must, to the best of their knowledge, contribute to clarifying the case in question and mitigating the loss. In the event of criminal acts, the User must file a complaint with the police.

6.1. Swissquote TWINT may not be used for commercial purposes; in particular, the use of Swissquote TWINT for receiving P2P payments arising from the processing of commercial sales or the provision of services is not permitted.

7.1. The Bank grants the User non-exclusive, non-transferable and cost-free rights to download Swissquote TWINT and to install and use it on his personal Mobile Device. Swissquote TWINT may contain software that is subject to third parties’ licenses.

8.1. When confirming payment instructions in Swissquote TWINT, the User irrevocably instructs and authorises the Bank to pay the relevant transaction amount to the beneficiary and to debit the Debit Account. The Bank has the right to debit the Debit Account even if the Bank is informed of a dispute between the User and a third party (e.g. the beneficiary of the payment or an Authorised Merchant).  Notwithstanding the foregoing, the Bank may allow the User to cancel payments to other TWINT users that have not completed their registration with the Payment System Operator.

8.2. Swissquote TWINT may allow the User to pay via pre-authorization, whereby the User authorizes an Authorised Merchant to debit the transaction amount from the Debit Account at a later date or time (regardless of the amount). The actual amount may not be specified at the time of the pre-authorization and will only be confirmed definitively following the performance of the relevant service or delivery of the relevant goods.

8.3. The User may use Swissquote TWINT to register with Authorised Merchant for the “Automated Payment” payment function. In such a case, the Bank is authorised to debit the transaction amount to the User’s Debit Account without him being required to authorise individual charges for each transaction and to pay that amount to the merchant as per the separate agreement between merchant and User for the "Automated Payment". Authorizations of this kind granted to merchant can be revoked by the User in Swissquote TWINT at any time. Users can only renew expired or deactivated registrations with the merchant.

8.4. The Bank is not obliged to execute a payment order where one or more of the conditions for its execution are not met. The payment order can also be rejected by another party involved in the transaction (e.g., the Payment System Operator or the recipient's bank / financial intermediary). If the Bank has already executed the payment, it will arrange to recredit the User once the funds have been returned. Any resulting costs can be directly debited to the Debit Account.

9.1. At the time a payment is executed, the Debit Account must contain sufficient available  funds to cover  the amount of the transaction. The Bank has no obligation to execute payments if the available funds on the Debit Account are insufficient. If the Bank decides nonetheless to process such a transaction and execute the payment, the User undertakes to immediately cover the resulting negative balance.

9.2. The amount of each transaction may be limited. In addition, the Bank may set limits on the amounts that can be sent or received within a set period of time (e.g. within a given month). Once the relevant limit is reached, no other payment can be made or received via Swissquote TWINT until the end of the relevant period. These amount limits can be found on the Bank Website and/or on the Swissquote App and be amended from time to time without prior notice.

9.3. All payments made through Swissquote TWINT are in Swiss francs. In the event there are insufficient funds in Swiss francs on the Debit Account, the Bank is entitled to convert into Swiss francs any funds in another currency on the Debit Account, before executing the payment. The exchange rate is determined by the Bank at its sole discretion.

10.1. The Bank is under no obligation to update, improve, expand or support Swissquote TWINT. The Bank is entitled to change the scope of or completely discontinue Swissquote TWINT at any time and without prior notification. The Bank has no obligation to allow the User to use Swissquote TWINT. The Bank may, at its sole discretion and without prior notice, cancel or restrict the User's ability to use Swissquote TWINT.

10.2. The Bank is under no obligation to execute outgoing payments or process incoming payments if – in the Bank's opinion – it may expose the Bank to legal, regulatory or reputational risks. In particular, the Bank may refuse to process payments or to act on any instruction of the User that the Bank believes is not clearly permitted under applicable laws, administrative guidance, the Bank's internal procedures or similar requirement.

10.3. The Bank may also delay the processing of payments until the Bank considers that uncertainties surrounding its admissibility have been resolved. In such a case, the User undertakes to promptly provide the Bank the information and explanations that the Bank may request from the User.

10.4. The Bank may also return incoming payments to the sender’s bank and/or financial intermediary. If a payment is returned, the Bank may inform all parties involved in the payment transaction (including the sender) of the reasons why the payment is being returned.

10.5. The User acknowledges that the Bank makes no representation regarding the possibility to use Swissquote TWINT outside of Switzerland. The User undertakes to comply with local applicable laws and to use Swissquote TWINT only to the extent permitted.

11.1. Pay later is an alternative payment method that allows eligible Users to purchase goods or services from certain merchants by immediately financing a purchase through a third-party payment provider (“Pay later provider”) and paying back the Pay later provider as agreed in a separate agreement between the User and the Pay later provider. By registering for and using Pay later, the User authorizes the Bank to transfer certain data (e.g., name, domicile, date of birth, phone number, email) via the Payment System Operator to the Pay later provider and allows repayment to the Pay later provider via the TWINT system (P2M Payments).

11.2. The User has no right to claim Pay later. The Bank reserves the right to activate Pay later only for certain transaction limits (for limits consult the Bank’s website) and only for Users that meet all eligibility criteria (including but not limited to age, location, etc.) and to deactivate Pay later for some or all Users at any time at its sole discretion. These transaction limits may deviate from limits defined in accordance with section 9 of these Terms and Conditions.

11.3. The Pay later provider is independent from the Bank. Pay later and in particular, the financing, reimbursement, setting of credit limits, fees (e.g., reminder fees and other charges) and customer service as well as the use of User data by the Pay later provider are governed exclusively by the agreement between the User and the Pay later provider. The Bank has neither influence nor control as to where the transferred data is stored (e.g., outside Switzerland) or how the Pay later provider uses this data. In addition, the Pay later provider may charge the User reminder fees and other charges in connection with the use of Pay later. The Bank is not involved in Pay later and assumes no liability for Pay later, in particular regarding the functionality and operation of Pay later transactions including error-free repayment of purchases. The User must address any complaints directly to the relevant Pay later provider.

12.1. The installation of Swissquote TWINT and the use of the associated services is free of charge.

12.2. The processing of payments transactions through Swissquote TWINT is subject to fees, as indicated on the Account or on the Bank's website at www.swissquote.com. In addition, the Bank may charge additional fees to the User in relation to payment instructions that are rejected or require clarifications.

12.3. In the event P2M Payments are performed, Authorised Merchants pay a fee for the use of the TWINT payment system (known as the merchant’s commission) to the companies that recruited them as acceptors of TWINT and with which they have entered into contracts to that effect (known as acquirers such as SIX Payment Services Ltd or TWINT Acquiring Ltd). Part of these fees are passed on to the Bank.

13.1. The Bank shall not be liable for any loss or damage suffered by the User:

a) due to transmission errors, misrouted transfers, technical faults or defects, outages and illegal access or intervention in the User’s Mobile Device;

b) due, in whole or in part, to a breach of these Terms by the User (including the use of a jailbroken or incompatible Mobile Device);

c) due to any error, bug, missing feature or lack of update of Swissquote TWINT, which is provided to the User "as is" and without any guarantee that it will function at all times or without errors;

d) due to disruptions or interruptions (including system maintenance work) affecting the systems of the Bank;

e) due to payments being delayed or not processed pursuant to Section 9, or resulting from other limitations or restrictions imposed by the Bank pursuant to Section 9;

f) relating to the use of the Value Added Services, including in case of offers that cannot be redeemed with a third-party provider, discounts or benefits in connection with loyalty cards that are not granted, pending, lost or missing;

g) attributable to actions or omissions of the Payment System Operator and any other third party involved in the processing of payments involving Swissquote TWINT, including Authorised Merchants offering the sale of goods or services via their own apps that have app-to-app switch functionality and support P2M Payments,

in each case unless such loss or damage is attributable to gross negligence or wilful misconduct on the part of the Bank.

13.2. The User undertakes to indemnify and hold the Bank harmless against and from any loss or damage suffered by the Bank as a result of:

a) the User's failure to fully and timely comply with his obligations under these Terms, or to comply with applicable laws;

b) any incorrect, incomplete and/or misleading confirmations and information provided by the User;

c) the execution of any instruction from the User,

in each case even in the absence of any fault, negligence or wrongdoing attributable to the User.

14.1. The installation and use of Swissquote TWINT involves the processing of personal data relating to the User and third parties. The processing of such personal data is governed by this Section 14 and the privacy policy applicable to the User’s Account.

Registration data

14.2. The registration process set out in Section 4 implies that the Bank transmits the User’s personal information (including his first name, last name, address, date of birth and phone number) to the Payment System Operator.

Transaction data

14.3. Transaction data related to payments (e.g. beneficiary and sender name, amount of the transaction, date of transaction, P2M location, data about the Debit Account) will be forwarded to the Payment System Operator, or other third parties based in Switzerland that perform tasks of the Payment System Operator.

14.4. The Bank and the Payment System Operator may also forward this information to other banks and/or financial intermediaries and other third parties involved in the payment (e.g. Authorised Merchants) and/or share this information with them, if necessary for the purpose of processing the payments or providing the services offered in Swissquote TWINT (e.g. Value Added Services).

Notifications

14.5. In the course of using Swissquote TWINT, the Bank may send the User’s electronic messages (e.g. by SMS to the registered mobile phone number or as a push notification) to inform them of certain events, such as credit notes. In addition the User and the beneficiary or sender of the payment will be sent unencrypted push notifications via Swissquote TWINT, which involves the User’s Mobile Device generating an “application device identifier” and sending this via Google or Apple. The use of TWINT apps by the User or the User’s beneficiary or sender of the payment and the corresponding transmission of notifications may mean that third parties (e.g. device manufacturers, providers of app distribution platforms, network providers) are able to conclude that there is a banking relationship with the Bank or to access client information (in particular specific transaction data).

Location data

14.6. To use certain functions of Swissquote TWINT, the User may have to activate location services on the Mobile Device. In such a case, the Bank will be able to access the User’s location data.

Marketing communications and processing

14.7. The Bank and the Payment System Operator may work with network operators (e.g. Swisscom) to send marketing communications and provide such operators with the User’s mobile number. The Bank and the Payment System Operator may also forward this information to banks and/or financial intermediaries and other third parties involved in the payment (e.g. authorised merchants) and/or share this information with them, if necessary for the purpose of processing the payment or providing the services offered in Swissquote TWINT (e.g. Value Added Services).

14.8.The Bank may also transfer User data to third party intermediaries and service providers abroad, including in jurisdiction that do not offer a level of protection of personal data equivalent to that of Switzerland, to transmit crash reports and analyse user behaviour within Swissquote TWINT to improve the services provided through Swissquote TWINT.

14.9. The User hereby release the Bank from its obligations of banking secrecy and confidentiality under Swiss or any other applicable law(s) which might otherwise preclude the disclosure of the User’s personal information necessary for the performance of the TWINT service, as described in this Section 14.

15.1. The Bank is entitled to amend these Terms at any time. Such amendments will be communicated to the User and become binding in accordance with the terms and conditions applicable to the Account.

16.1. These Terms shall be exclusively governed by Swiss substantive law, without regard to conflict of laws’ provisions.

16.2. The place of performance, place of enforcement against the User (including if the User resides outside of Switzerland), and exclusive place of jurisdiction for any and all disputes arising out of or in connection with these Terms shall be Gland, Switzerland. The Bank however reserves the right to take legal action against the User in a court of competent jurisdiction of his place of residence or before any other competent court or jurisdiction. In such cases too, Swiss substantive law shall apply exclusively.