General terms and conditions

General terms and conditions for the use of our services

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Preamble

These are the terms of the agreement entered into between you as a user of our services ("User") and Ivy GmbH, Reichenbachstr. 16, 80469 Munich, Germany ("Ivy"), governing the establishment and use of your Ivy account. These terms and conditions apply to all such contracts.

1. Scope of application, sole validity of these conditions

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a. These terms and conditions apply to the creation and use of user accounts that enable you to execute instant bank payments in online stores that cooperate with Ivy through the payment services arranged by us.

b. The following General Terms and Conditions in the version valid at the time of registration shall apply exclusively to registration and use. Deviating general terms and conditions of the user are not recognized unless the provider expressly agrees to their validity in writing.

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2. Conditions of use

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a. You must be at least 18 years old and of legal age to enter into a contract to open an Ivy account and use our services.

b. To use our service, you also need access to a smartphone, computer or tablet and an Internet connection, as well as a registered user account.

3. Registration

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a. To create a user account, you must follow the instructions displayed on the Ivy Checkout form. Upon complete completion of these steps, the user contract comes into effect. Input errors can be detected and corrected before submitting the contractual declaration by carefully reading the information displayed on the screen. The customer can correct his entries during the registration process using the usual keyboard and mouse functions until he clicks the button that concludes the process.

b. The German and English languages are available for the conclusion of the contract.

c. In the course of the registration process, you will be asked to provide various data. Insofar as the corresponding input fields are not marked as "Optional", this is information that is required for the correct processing of payments. You are obliged to provide accurate information in this respect.

d. The respective status of the GTC at the time of conclusion of the contract shall not be stored subsequently and shall not be accessible to the customer.

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4. Our services

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a. Ivy enables registered users to pay businesses directly with their bank accounts.

b. The services of Ivy are provided free of charge for the user.

c. The contractual partner of the respective purchase remains the online store in which users pay with their bank accounts. Therefore, the terms and conditions of the respective store apply to the purchase.

d. Payment for your purchases is processed through the payment service provider Tink AB ("Tink"), Plaid Financial Ltd ("Plaid"), TrueLayer Ltd. 2022 ("Truelayer") and Stripe, Inc ("Stripe"). For payment transactions, their terms and conditions apply in addition, which you can find here, here, here and here.

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5. Terms of use

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a. It is not permitted to process payments using Ivy,

1. that violate any laws, ordinances, rules or regulations (e.g. purchase of prohibited narcotics, stolen goods or illegal weapons);
2. which infringe any third party rights (e.g. trademarks, copyright or data protection rights); or
3. which involve an activity requiring a permit, without a permit having been obtained.

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6. Limitations of liability

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a. Ivy shall only be liable for damages to the user - for whatever legal reason - in the following cases

1. in case of intent
2. in case of gross negligence of our organs or executive employees
3. in case of culpable injury to life, body, health,
4. in the case of fraudulently concealed defects or defects whose absence we have guaranteed
5. in the case of compulsory liability under special law.

b. In the event of culpable breach of essential contractual obligations, we shall also be liable in the event of gross negligence on the part of non-executive employees and in the event of slight negligence, in the latter case limited to reasonably foreseeable damage typical for the contract.

c. The above exclusions or limitations of liability also apply in favour of our employees, representatives and other vicarious agents.

d. Ivy furthermore assumes no liability whatsoever for the processing of payment transactions or the execution of your purchase by our aforementioned partner companies.

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7. Termination of contract

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a. The contract for the use of our services is in principle indefinite.

b. The User may delete his/her account via the getivy.io website.

c. Ivy is entitled to terminate the user contract without notice and close the user account in the event of a violation of the conditions stated in section 5.

d. This also applies if you have not accessed the account for more than three years.

e. The statutory provisions of termination remain unaffected.

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8. Applicable law

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German law shall apply, excluding the UN Convention on Contracts for the International Sale of Goods.

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