We are CURRENCY LAB TECHNOLOGIES LIMITED, a limited company incorporated in England with registered number 11066924 and registered address at 16 Holywell Row, London, United Kingdom, EC2A 4XA. References to “Currency Lab”, “we” and “us” are references to Currency Lab Technologies Limited.

2.1 Currency Lab provides and operates the Application.

2.2 The Application can be accessed free of charge via web browser, downloaded from a Marketplace, or by such other means as may be provided by Currency Lab from time to time.

3.1 You must be at least 18 years old to use the Application or the Services. If you do not qualify, please do not download the Application or use the Services.

3.2 By downloading and using the Application or the Services, you warrant and undertake that you have the right, authority and capacity to enter into and be bound by these Terms.

3.3 In the event that you use the Application on behalf of a company or other business, you represent and warrant that:

(a)           you are authorised to do so by a director of such company or business; and

(b)           you are authorised to bind the company or business with respect to transactions of the type, size and nature undertaken through the Application.

3.4 You acknowledge that using the Application gives rise to legally binding obligations which may result in you or your employer incurring significant fees.

3.5 Where you use the Application or the Services on behalf of a company, you must be a Company Representative. Currency Lab may refuse to proceed with any Trade which it believes is conducted by a User who is not appropriately authorised, as determined in its sole and absolute discretion.

4.1 In these Terms:

“Account” means the account of a User with Currency Lab which is created when a User logs into the Application;

“Application” means the currency exchange application for iOS, Android and web created by Currency Lab, which may be accessed via web browser, downloaded from a Marketplace, or by such other means as may be provided by Currency Lab from time to time;

“Business Day” means any day except Saturday, Sunday, bank or other public holidays in England and Wales;

“Company Representative” means an individual acting on behalf of a company as authorised by the board of that company;

“Current Provider” means the bank or foreign exchange provider that provided (or has been held out as providing) the User with the Original Rate;

“Currency Lab”, “we” and “us” are references to Currency Lab Technologies Limited;

“Currency Lab Content” means material and information used to populate pages of the Application including without limitation text, image, video and audio material;

“Currency Lab Rate” means the exchange rate provided by the Recommended FX Provider in respect of a Trade which Currency Lab quotes to the User pursuant to receipt of a Request;

“FX Transaction” means any Trade ordered by the User through the Application at the Currency Lab Rate which will be fulfilled by the Recommended FX Provider;

“Marketplace” means the iOS store operated by Apple, the Play Store operated by Google or such other location where the Application is made available for downloading by Currency Lab;

“Original Rate” means the exchange rate quoted to the User (or which the User has held out as having been quoted to the User) by the User’s Current Provider in respect of a particular Trade;

“Recommended FX Provider” means Foenix Partners Limited, incorporated and registered in England and Wales with company number 07677978 whose registered office is at 16 Holywell Row, London, England, EC2A 4XA or such other person as may be chosen by Currency Lab from time to time;

“Request” means a request made by a User for the Currency Lab Rate, as communicated to Currency Lab by the User entering the Original Rate in respect of a particular Trade into the relevant page of the Application;

“Services” means the services provided through the Application in respect of providing the Currency Lab Rate in respect of any Trade;

“Tariff" means the table of fees and rates applicable to the Services which we provide to the User in accordance with clause 12 hereof;

“Trade” means the specific foreign exchange trade in respect of which the User has placed a Request through the Application;

“Terms” means these terms of service as amended from time to time in accordance with clause 5.1 hereof;

“User” means any person using the Application;

“Value Date” the date on which the User wishes the Trade to be settled; and

“your” and “you” means the User, or the company or organisation on whose behalf the User accesses, downloads or uses the Application or Services.

4.2 These Terms set out the terms on which we offer and provide the Application and the Services and on which the User agrees to use the Application and the Services. These Terms will be incorporated into the contract which is formed between us when the User instructs us to perform, and we agree to perform, the Services.

4.3 Please review these Terms carefully and make sure that you understand them before using the Application and/or the Services. If you do not agree to these Terms, you must cease use of the Application and the Services immediately.

5.1 We may at any time modify these Terms. We will notify the User of any changes to these Terms either by emailing the User (at the email address entered by the User on the Application) or by posting a notice on the Application. By continuing to use the Application and/or the Services after changes to these Terms are made and notified to the User, the User agrees to be bound by such changes.

5.2 The User can review a summary of our current Terms by clicking on the "Terms of Service" link located at www.currencylab.co/terms. Our full Terms will be sent via email to the User. It is the User’s responsibility to ensure that the User is familiar with the current Terms. The User is advised to check our Terms on a regular basis.

By using the Application and/or the Services, the User accepts and agrees to be bound by these Terms in full without any amendment or variation.

7.1 Before we can perform any of our Services for the User, the User must register with us. In order to complete the User’s registration, the User must provide us with all the details we require from the User, including details relating to the User’s identity and proof of address and any other information we may require from the User to enable us to complete our anti-money laundering process. If the User does not use our Services for 12 months, the User may need to re-register with us.

7.2 It is the User’s responsibility to keep safe any PIN the User may use enabling the User to access the Application or to use any of our Services. The User may reset his PIN if required.

7.3 Any User which accesses the Application or uses any of our Services remains bound by the Terms stated herein, whether or not the User is registered with us.

8.1 The User will promptly supply us with all information and documentation which we may ask the User for at any time to enable us to comply with any legal requirements on us relating to our Services, including as may be required by the Money Laundering Regulations 2007. The User acknowledges, agrees and consents to us disclosing all such information to the Recommended FX Provider.

8.2 The User must not use any of our Services for any speculative purpose. All Trades and FX Transactions are premised on physical settlement (i.e. payment of funds on settlement of the Trade or FX Transaction.

8.3 In all matters relating to a Request, Trade, an FX Transaction, the Services or any information the User obtains from us, the User shall rely on its own skill and judgement. Although Currency Lab or the Recommended FX Partner may provide the User with information concerning foreign exchange rates whether or not within the Application, the User shall not rely on any comments made or opinion expressed by Currency Lab or the Recommended FX Partner or any members of staff at either company at any time concerning the merits or otherwise of any currency transaction or any other matters whatsoever. It is entirely for the User to decide whether or not to make a Request and entirely for the User to decide whether or not a Request, a particular Trade, an FX Transaction and the User’s instructions to Currency Lab or the Recommended FX Partner are suitable for the User and its circumstances.

8.4 We are not responsible for and have no liability for any delay in or failure of execution of any FX Transaction.

9.1 The User may place a Request though the Application, and we may accept such Request to provide the Currency Lab Rate. Each Request is an offer by the User to purchase some of our Services. Further, each Request and/or Trade that we facilitate for the User is subject to a separate contract. We may, in our sole discretion, refuse to proceed with a Request at any time.

9.2 When the User wishes to make a Request using the Application, the User will be required to enter certain information as set out in the Application.

9.3 In the course of establishing whether to proceed with a Request:

(a)           we may make such enquiries with the User or third parties as we consider appropriate to protect against fraud and misuse of the banking system, and to fulfil our statutory and regulatory obligations, and the User authorises us to make such enquiries. If false or inaccurate information is provided and we suspect any unlawful activity such as fraud or fraud is identified, this will be recorded, and we may pass details to fraud prevention agencies. Law enforcement agencies may access and use this information; and

(b)           we may require the User to provide additional information concerning its activities or transactions with us, including information regarding funds transfers, sources of funds, the purposes of payment orders, beneficiaries and expected amount and frequency of funds transfer. The User agrees to provide such additional information promptly on request.

9.4 If we decide to accept the User’s Request, we will inform the User in the form of a confirmation page displayed on the Application.

9.5 Upon our acceptance of the User’s Request, a contract is formed, whereby we provide the Currency Lab Rate to the User and the User has a binding legal obligation to:

(a)           pay our Tariff as notified to the User on the Application (further details in respect of our Tariff are set out in clause 11.1); or

(b)           complete the Trade through the Application and instruct the Recommended FX Provider to complete the FX Transaction.

9.6 If, between the time we have provided the Currency Lab Rate and the time the Trade is executed there is an adverse market movement, we reserve the right in our sole and absolute discretion to adjust the Currency Lab Rate to reflect the market movement.

10.1 If the User elects to complete the Trade through the Application and instruct the Recommended FX Provider to complete the FX Transaction, such FX Transaction will be legally binding on the User and the User shall be liable to pay any fees the Recommended FX Provider may charge in respect of the FX Transaction.

10.2 If the User elects to make an FX Transaction, the User will be redirected to pages operated and managed by the Recommended FX Provider on the Application which will include a summary of the FX Transaction.

10.3 If the User wishes to book the FX Transaction, when prompted, the User must type the word “TRADE” and click to confirm that the User agrees to the Recommended FX Provider’s terms of business (the “FX Terms”) after which the FX Transaction will be booked and cannot be cancelled.

10.4 The User must read the FX Terms carefully before agreeing to accept them on the trading page of the Recommended FX Provider. The FX Terms are separate to our Terms. When the User types the word “TRADE” where indicated on the trading page of the Recommended FX Provider and clicks to accept the FX Terms the User enters into a contract directly with the Recommended FX Provider.

10.5 Any contract between the User and the Recommended FX Provider is strictly between the User and the Recommended FX Provider directly and for the avoidance of doubt, Currency Lab shall not be a party to such contract.

10.6 Currency Lab shall not be responsible or liable for any failure or deficiency in performance of any contract by the Recommended FX Provider.

10.7 Currency Lab will not be obliged to procure any refund from the Recommended FX Provider.

10.8 Currency Lab excludes all liability in relation to any dispute between the User and the Recommended FX Provider as to whether the services provided by the Recommended FX Provider have been completed or performed to the required standard. For the avoidance of doubt, this does not affect any legal remedy or statutory rights that either the User or the Recommended FX Provider may have against the other in respect of such dispute.

11.1 We may refuse to process a Request at any time for any reason.

11.2 Where we refuse to process a Request:

(a)           unless it is unlawful for us to do so, we will tell the User;

(b)           if possible, we will let the User know our reasons for our refusal; and

(c)           if the refusal is due to any factual errors, we will tell the User what these are and how to correct them.

11.3 We further reserve the right to request additional information from the User, including information on the payee, where payments are to be made to certain jurisdictions, acting in our sole discretion.

11.4 The Recommended FX Provider shall have no liability at any time to effect an FX Transaction and may refuse to enter into an FX Transaction at any time without giving any reason.

12.1 When the User submits a Request, the User agrees to be invoiced by Currency Lab based on our Tariff. Our Tariff is payable irrespective of whether the User:

(a)           decides to make the Trade via the Current Provider; or

(b)           otherwise elects not to make the Trade.

12.2 The only circumstance where our Tariff is not payable is where the User completes an FX Transaction in respect of the Request with the Recommended FX Provider. For the avoidance of doubt, our Tariff is payable where a User initiates an FX Transaction with the Recommended FX Provider but does not subsequently enter into such FX Transaction.

12.3 Our Tariff includes fees we will charge the User for providing our Services, and (where appropriate) details relating to exchange rates used by us to provide our Services. There are other charges or costs in using our Services that we may charge or pass onto the User.

Service	Fee
Breach Fee *This is only applicable if the User has not elected to make a transaction	10% of any notional savings that the User would make if the User’s Current Provider executed the Trade at the Currency Lab Rate based on the difference between the Original Rate and the Currency Lab Rate.
Transaction Fee *This is only applicable if the User has not elected to make an FX Transaction	10% of the actual savings that the User makes on the Trade based on the difference between the Original Rate and the actual transaction rate.

12.4 In the event that the Original Rate and the Currency Lab Rate are the same or the Currency Lab Rate is worse than the Original Rate, no Tariff shall be payable. For the avoidance of doubt, we shall not be required to pay the User any amount or fee in the event that the Currency Lab Rate is worse than the Original Rate.

12.5 In the event that the User chooses to execute the Trade with the Recommended FX Provider and makes an FX Transaction in accordance with clause 10, no Tariff shall be payable by the User to us. The Recommended FX Provider will charge the User their fees as communicated to the User by the Recommended FX Provider from time to time and will invoice the User directly. Payment of any invoice provided by the Recommended FX Provider shall be governed by the FX Terms.

12.6 We shall invoice the User for our Tariff by sending the User an invoice to the address and email address provided by the User. Payment of any invoice provided by Currency Lab shall be made within 30 days of the date of the invoice.

13.1 Once the User submits a Request, the User cannot cancel such Request and will be bound to pay our Tariff (subject to clause 12.5) once the User has received the Currency Lab Rate.

13.2 Cancellation of any FX Transaction is subject to the FX Terms which can be accessed here foenixpartners.com/terms.

14.1 By downloading and/or using the Application, the User agrees not to upload, post, e-mail or otherwise send or transmit any material that contains viruses, trojan horses, worms or any other computer code, files or programmes designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment associated with the Services or the Application.

14.2 The User agrees and undertakes to keep its username and PIN confidential, not to disclose its PIN to any other person and not to permit any other person to log in to the Application using the User’s username and PIN.

14.3 The User agrees not to interfere with the servers or networks connected to the Application or to violate any of the procedures, policies or regulations of networks connected to the Application, including these Terms.

14.4 The User also agrees not to:

(a)           attempt to reverse engineer or sell, export, license, modify, copy, distribute or transmit the Application to any third party, or jeopardise the correct functioning of the Application, or otherwise attempt to derive the source code of the software (including the tools, methods, processes and infrastructure) that enables or underlies the Application;

(b)           attempt to gain access to secured portions of the Application to which the User does not possess access rights;

(c)           impersonate any other person while using the Services, or the Application;

(d)          conduct itself in a vulgar, offensive, harassing or objectionable manner while using the Application;

(e)           resell or export the software associated with the Application;

(f)            use the Application to generate unsolicited advertisements or spam; or

(g)           use any automatic or manual process to search or harvest information from the Application, or to interfere in any way with the proper functioning of the Application.

In providing the User with access to the Application and in providing the Services, Currency Lab reserves the following rights, and in accessing, browsing or otherwise using the Application the User grants to Currency Lab and agrees that Currency Lab shall have the following rights:

(a)           the right to refuse or withdraw the User’s access to the Application in accordance with applicable laws for any reason at any time (with or without notice) if in Currency Lab’s sole and absolute discretion the User violates or breach any of these Terms;

(b)           the right to suspend, amend or disable the User’s Account without giving the User notice or any reason;

(c)           the right to amend or update the Application, fees, billing methods or these Terms from time to time;

(d)          the right to report the User to the police or other judicial body if Currency Lab believes in its sole and absolute discretion that the User’s conduct (whether in using the Application, our Services or otherwise) is unlawful.

16.1 Currency Lab and/or its licensor(s) are the sole owners of the Application, which includes any software, domains, and Currency Lab Content (including without limitation the structural architecture, coding and functional amendments made by any User when creating an Account) made available through the Application.

16.2 The Application is protected by UK and international copyright and other intellectual property laws. Without limitation, this means that the User may not sell, export, license, modify, copy, distribute or transmit the Application (or any part of it) or any material provided through the Application without Currency Lab’s prior express written consent.

16.3 Any unauthorised use of the Application will result in the automatic termination of the limited license granted by us. Currency Lab reserves the right to terminate the limited license without notice at any time following an unauthorised use by the User of the Application.

16.4 Currency Lab and its graphics, logos, icons and service names related to the Application are registered and unregistered trademarks or trade dress of Currency Lab. They may not be used without Currency Lab’s prior express written permission.

16.5 All other trademarks not owned by Currency Lab that appear in connection with the Application are the property of their respective owners, who may or may not be affiliated with, connected to or sponsored by Currency Lab.

16.6 Currency Lab grants the User a personal, limited, non-exclusive, revocable, non-transferable licence to use the Application and the Services. The User may not, under any circumstances, rent, lease or sub-license any aspect or element of the Application and/or the Services. The User may not reverse engineer, decompile, disassemble or modify the Application and/or the Services nor attempt to gain knowledge of the source code of the system in any manner whatsoever.

16.7 All copyright, trademarks, service marks, trade secrets, registered and unregistered design rights and other intellectual property rights in the Application and/or the Services, shall remain at all times the sole and exclusive property of Currency Lab (or of any third party or affiliate owner from whom we licence any such rights) and the User shall have no right or interest in or to any such intellectual property rights, except the right to access and use the Services as provided for in these Terms. All rights not expressly granted to the User are reserved.

Whilst we have implemented commercially reasonable technical and organisational measures to secure the User’s personal information from unauthorised use, we cannot guarantee that unauthorised third parties will never be able to defeat those measures. The User acknowledge that it provides its personal information at its own risk.

By downloading and/or using the Application and/or material provided through the Application, the User consents to receiving electronic communications and notices from Currency Lab. The User agrees that any notice, agreement, disclosure or other communications that we send to the User electronically will satisfy any legal communication requirements, including that such communications be in writing.

19.1 By accessing the Application through a mobile device, personal computer or by other means (each a “Device”) you consent to Currency Lab collecting, storing and processing your personal information as stated in these Terms.

19.2 We will not rent, sell or share your personal information with any other company for its own marketing purposes without your consent except where specified in these Terms.  By agreeing to these Terms, you give a number of express consents as detailed herein.

19.3 FX transactions will be subject to the privacy policy of the Recommended FX Provider as part of the FX Terms. A copy of the privacy policy can be found here foenixpartners.com/privacy.

19.4 All information you provide to Currency Lab may be shared with the Recommended FX Provider. You acknowledge, agree and consent to Currency Lab sharing your information with the Recommended FX Provider for the purpose of providing the Currency Lab Rate to the User. The basis of this data sharing is compliant with the requirements of the Data Protection Act 1998 and the General Data Protection Regulation (EU2016/679) (together, the “Data Protection Regulations”).

20.1 For the purposes of the Data Protection Regulations, the data controller is Currency Lab Technologies Ltd, a limited company incorporated and registered in England and Wales with company number 11066924 whose registered office is at 16 Holywell Row, London, United Kingdom, EC2A 4XA which is registered with the Information Commissioner’s Office with registered number.

20.2 Contact details for the Controller are, as follows:

Email: [email protected]

Telephone: 02033973537

Fax: 02033973536

Website: currencylab.co

20.3 The nominated Data Protection Officer for the purposes of the Data Protection Regulations is Richard de Meo who can be contacted by email: [email protected] / phone: 07900585763.

21.1 We may collect and process the following personal and non-personal data about you:

(a)           Account information: information you provide when you register to use the Application and use any of the Services. This will include the following:

(i)            If you are an individual user:

i.      full name;

ii.      email address;

iii.      phone number;

iv.      date of birth;

v.      postal address; and

vi.      passport number, driving licence number or national insurance number.

(ii)          If you are a corporate user:

i.            full name of the Company Representative;

ii.            email address;

iii.            phone number;

iv.            date of birth of the Company Representative;

v.            postal address;

vi.            either passport number, driving licence number or national insurance number of the Company Representative;

vii.            company name;

viii.            company registration number; and

ix.            name of one company director.

(b)           Correspondence: information you may provide by filling in forms on the Application, or by corresponding with us (for example, by e-mail, chat or by telephone) for feedback, support or general enquiries. The information you may be requested to provide may include your name, address, e-mail address and phone number, the Device's unique device identifier, age, username, PIN and other registration information, personal description and photograph. If you contact us, we may keep a record of that correspondence.

(c)           Information we collect about you and your Device: each time you use our Application we may automatically collect the following information:

(i)            technical information, including the type of device you use, a unique device identifier (for example, your Device's IMEI number, the MAC address of the Device's wireless network interface, or the mobile phone number used by the Device), mobile network information, your mobile operating system, the type of browser you use and time zone setting;

(ii)          details of your use of our Application including, but not limited to, traffic data, location data, weblogs and other communication data, whether this is required for our own billing purposes or otherwise and the resources that you access.

(d)          Information we receive from other sources: we work closely with third parties including, for example, business partners, sub-contractors in technical, advertising networks, analytics providers and search information providers.

(e)           Unique application numbers: when you install or uninstall the Application or a Service which makes use of a unique application number or when the Application searches for automatic updates, that number and information about your installation, for example, the type of operating system, may be sent to us.

21.2 We may associate any category of information with any other category of information and will treat the combined information as personal data in accordance with these Terms for as long as it is combined.

21.3 Please note that you are under no obligation to provide any information (other than login information necessarily required) when you use the Application. In particular you have no obligation to complete all information when signing up to an Account. Please note that any information you provide when signing up to an Account may be published on your Account and may be viewable to other users of the Application.

22.1 Cookies are text files stored, either on a temporary or persistent basis on the hard drive of your Device. Cookies are used for authenticating, session tracking and maintaining specific information about the use and users of the Application.

22.2 The data collected by cookies is anonymous. You can delete all cookies that are already on your Device's hard drive by searching for files with "cookie" in it and deleting them. In addition, if you want to stop cookies from being stored on your Device, you can edit your browser settings so that cookies are blocked. Unfortunately, if you block cookies you may not be able to use the full functionality of the Application. For more information about cookies, please visit: www.allaboutcookies.org.

22.3 Web beacons consist of a small string of software code that represents a graphic image request on a page or email. There may or may not be a visible graphic image associated with the web beacon and often the image is designed to blend into the background of a page or email. Web beacons can be used for many purposes - including Application or website traffic reporting, unique visitor counts, advertising auditing and reporting, and personalisation. Web beacons used by the Application collect only anonymous data.

22.4 In order to improve the Application and the Services we offer you, we may use (temporary and persistent) cookies, authorised third parties cookies, web beacons and/or other technologies to collect non-personally identifiable data. This non-personally identifiable data helps us to track browsing behaviour, to create specific or tailor-made offers or advertisements, and to monitor and record the visits and use of the Application.

22.5 In order to understand how people use the Application and for marketing analysis and quality improvement purposes, we (and/or third party service providers) may collect, record, process and use on an anonymous basis certain information (including the total number of transactions, viewed pages, referring/exit pages, Application type, date/time stamp information and details like the number and location of cursor clicks on a given page, cursor movements, scrolling activity and the search words you use while being on and using the Application.

22.6 If you register with us or if you continue to use the Application, you agree to our use of cookies.

Registration and administration

23.1 We use your information to enable you to register with us and, once your registration with us is complete, for the administration of your Account, to contact you, to update our records about you, and to respond to and process your queries and requests.

Our Services

23.2 We use your information so that we can supply you with the Application and the Services which you use or have requested and to meet our contractual obligations to you. We also use your information to notify you about changes or developments relating to our products and services which you use or have requested.

Prevention and detection of crime

23.3 Currency Lab is compliant with Money Laundering Regulations 2007 and is subject to regulation by HM Revenue and Customs. The Recommended FX Provider is subject to regulation by the Financial Conduct Authority (“FCA”).

23.4 This means that Currency Lab must verify your information as part of our customer due diligence obligations. In many cases this verification will happen automatically through the use of an electronic identification tool. You agree to the use of your information in connection with such electronic identification tools. Sometimes we may ask you to provide us with copies of personal identification documents (such as your passport or driving licence) and a proof of address (such as a bank statement or utility bill).

23.5 We may be required by the Money Laundering Regulations 2007, by HM Revenue & Customs, by the FCA or other regulatory bodies, by the police or other law enforcement agencies, by a court or otherwise by law to use your information in the detection, prevention or prosecution of crime, tax evasion or fraud. We may disclose any information provided by you to any of the foregoing bodies.

Identity checks

23.6 We may use third-party service providers for identification checks on the information you provide. This information will include your contact information or other personal information.

23.7 We may use third-party advertising companies to serve advertisements when you use the Application. These companies may use information about your use of the Application and other websites in order to provide advertisements about goods and services of interest to you. This information does not include your contact information or other personal information.

23.8 We shall never use your personal information when posting on a third-party website unless we have your prior written consent.

Other

23.9 We may use your personal information for the following purposes:

(a)           to manage and administer the Application and the Services;

(b)           to identify when you log into your Account on different Devices;

(c)           to improve your browsing experience by personalising the Application;

(d)          to enable you to use the Application;

(e)           to send you newsletters and other communications we think you may find relevant or which you have requested from us (including notifying you about changes to the Application or our Services);

(f)            to deal with enquiries, complaints, and feedback from you;

(g)           to provide third parties with statistical anonymised information about our users;

(h)           to send you emails offering you to take part in a survey and/or give feedback; and

(i)            to analyse and improve the Services offered on the Application.

23.10 We do not disclose information about identifiable individuals to third parties, but we may provide them with and sell anonymous aggregate information about our Users (for example, we may inform them that 500 men aged under 30 have clicked on their advertisement on any given day). We may also use such aggregate information to help advertisers reach the kind of audience they want to target (for example, men in SW1). We may make use of the personal data we have collected from you to enable us to comply with our advertisers' wishes by displaying their advertisement to that target audience.

24.1 We may disclose your personal information to any member of our group of companies, which means our subsidiaries, our ultimate holding company and its subsidiaries, as defined in section 1159 of the Companies Act 2006.

24.2 We may disclose your personal information to the Recommended FX Provider.

24.3 We may disclose your personal information to third parties:

(a)           in the event that we sell or buy any business or assets, in which case we may disclose your personal data to the prospective seller or buyer of such business or assets;

(b)           if Currency Lab or substantially all of its business and assets are acquired by a third party, in which case personal data held by it about its customers will be one of the transferred assets;

(c)           if we are under a duty to disclose or share your personal data in order to comply with any legal or regulatory obligation or request;

(d)          if we are requested or required to do so by any judicial or law enforcement agency for the purposes of prevention or prosecution of any criminal offence and /or terrorist activity. We shall not be required to insist that the relevant judicial authority or law enforcement agency secures a court order requiring us to disclose the relevant information;

(e)           in order to:

(i)            enforce or apply the Terms and other agreements or to investigate potential breaches; or

(ii)          to protect the rights, property or safety of Currency Lab, its users, staff and related third parties. This includes exchanging information with other companies and organisations for the purposes of fraud protection and credit risk reduction.

25.1 The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (the “EEA”). It may also be processed by staff operating outside the EEA who work for us or for one of our suppliers. These staff may be engaged in the fulfilment of your request, order or reservation, the processing of your payment details and the provision of support services. By submitting your personal data, you agree to this transfer, storing or processing. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with these Terms.

25.2 All information you provide to us is stored on our secure servers. Where we have given you a PIN that enables you to access certain parts of the Application, you are responsible for keeping this PIN confidential. We ask you not to share a PIN with anyone.

25.3 Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to the Application. Any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorised access.

We will not keep personal data longer than is necessary for the purposes for which the personal data is collected, as set out above. If we no longer require your data in order to deliver the Services, we will take all reasonable steps to destroy, or erase from our systems, all of your personal data.

27.1 In respect of the personal data which we hold, you have the right to:

(a)           seek confirmation as to whether or not your personal data is being processed;

(b)           ask us not to process your personal data;

(c)           be informed about our processing of your personal data;

(d)          access the personal data we hold;

(e)           rectification if your personal data is held inaccurately or incompletely;

(f)            erasure of your personal data;

(g)           restrict the processing of your personal data;

(h)           data portability, meaning you can obtain and reuse your personal data for your own purposes across different services; and

(i)            object to the processing of your personal data including for marketing purposes and profiling.

27.2 You can exercise the rights at any time by contacting the Data Protection Officer at [email protected].

27.3 The Application may, from time to time, contain links to and from the websites of our partner networks, advertisers and affiliates.  If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies.  Please check these policies before you submit any personal data to these websites.

27.4 If you are not happy about anything we have set out in these Terms about the processing of your data you have the right to complain to the Information Commissions Office who are the UK independent regulator for processing of personal data. Their website (www.ico.org.uk) provides details on how best to contact them in order to make a complaint.

The legislation governing collection and use of personal data by us gives you the right to access information held about you. Your right of access can be exercised in accordance with that legislation. Any access request may be subject to a fee to meet our costs in providing you with details of the information we hold about you.

29.1 We comply with the requirements of applicable legislation as follows:

(a)           personal data shall be processed fairly and lawfully. We will ensure that data is obtained fairly, and will make reasonable efforts to ensure that data subjects are told who the data controller is, what the data will be used for, for how long the data will be kept and any third parties to whom the data will be disclosed. In order for processing to be fair and lawful, data which is not sensitive personal data will only be processed by Currency Lab if at least one of the following conditions, set down in the Data Protection Regulations, has been met:

(i)            personal data shall be obtained only for a specified and lawful purpose or purposes, and shall not be further processed in any manner incompatible with that purpose or purposes;

(ii)          Currency Lab will ensure that data which is obtained for a specified purpose is not used for a different purpose, unless that use is done with the consent of the data subject or in compliance with applicable laws;

(iii)         personal data shall be adequate, relevant and not excessive in relation to the purpose or purposes for which they are processed. We will not collect personal data which is not strictly necessary for the purpose or purposes for which they were obtained;

(iv)         personal data shall be accurate and, where necessary, kept up to date. We will take reasonable steps to ensure the accuracy of personal data which it holds, and will take steps to correct inaccurate data when requested to do so by a data subject;

(v)           personal data processed for any purpose shall not be kept for longer than is necessary for that purpose. We will ensure that personal data is not kept for longer than is required by the purpose or purposes for which the data were gathered. We may retain certain data indefinitely for research purposes (including historical or statistical purposes), as permitted under applicable legislation, subject to the conditions laid down in the legislation for this type of processing;

(vi)         personal data shall be processed in accordance with the rights of data subjects under applicable legislation. We will ensure that personal data is processed in accordance with the rights of data subjects under applicable legislation. These rights include the right to appropriate technical and organisational measures shall be taken to prevent the unauthorised or unlawful processing of personal data and the accidental loss, destruction of or damage to personal data; and

(vii)       We will take steps to ensure the security of personal data which is held electronically and in manual form, to prevent the unauthorised disclosure of data to third parties, and loss or damage to data that may affect the interests of data subjects. We will also ensure that data processors provide an appropriate level of security for the personal data which they are processing on Currency Lab’s behalf.

30.1 Currency Lab provides the Services and the Application "as is" and without any warranty or condition, whether express, implied or statutory.

30.2 We are not liable to the User for any loss or damage which the User may incur as a result of any breach by the User of these Terms.

30.3 In no event are we liable to the User or any other person for any type of loss or damage which under English law is considered to be “indirect loss” or “consequential loss” (being loss or damage which does not follow directly from our breach of these Terms) nor are we liable for any loss of data, loss of profits, loss of revenue, loss of turnover, loss of sales, loss of production, loss of anticipated savings, loss of goodwill, loss of business opportunity or contracts or any other economic loss whatsoever arising out of or in connection with the Application or our Services which an English court would not consider to be direct financial loss or damage to the User or to its property.

30.4 We are not liable under these Terms to any person except the User and are not liable for any loss or damage whatsoever caused to any person other than the User. Currency Lab specifically excludes liability for any loss, harm, distress or damage suffered by the User or any third party as a result of inaccurate information appearing on the Application.

30.5 Our total liability to the User is, subject to clause 30.10, limited to £100.00 (one hundred pounds sterling).

30.6 Currency Lab assumes no liability or responsibility for any errors or omissions in the Application or its provision of the Services; any failures, delays or interruptions in the Application or its provision of Services; any losses or damages arising from the use of the Services the Application or any Application; or any conduct by users of the Services or the Application. Currency Lab reserves the right to deliver the Services and the Application in its sole and absolute discretion.

30.7 In no event shall Currency Lab, its shareholders, directors, officers, employees or agents be liable (jointly or severally) to the User for loss of use or any special, incidental, indirect or consequential damages arising out of or in connection with the Services and/or the Application and/or any services provided by the Recommended FX Provider or these Terms, on any theory of liability, and whether or not advised of the possibility of damage.

30.8 From time to time the User may use or access services, promotions and websites of third parties (including without limitation any Marketplace). In using or accessing third party services, promotions and websites, the User agrees to be bound by the terms of service of such third parties governing their services, promotions and websites and hereby acknowledges that we shall not be responsible for the provision of services, accuracy of promotions or content of websites belonging or operated by third parties.

30.9 If any applicable authority holds any portion of this section to be unenforceable, then liability will be limited to the fullest possible extent permitted by applicable law.

30.10 No provision of this clause, nor any other provision of our Terms, shall have as its object or effect the exclusion or limitation of any liability we may have for personal injury or death resulting from our negligence or for fraud or any other liability which it is not possible for us to exclude or limit by law or regulation.

The User agrees to indemnify and hold Currency Lab and its related companies, and each of their respective shareholders, directors, officers, employees, agents and partners harmless from and against any third-party claim or cause of action, including reasonable attorneys' fees and court costs, arising, directly or indirectly, out of the User’s use of the Services and the Application or the User’s violation of any law or the rights of any third party.

We are based in and operate our business out of England and in accordance with English law. For that reason we cannot be expected to know of or investigate any local law requirements that may apply if the User is accessing our Services from outside the United Kingdom and we are not responsible for compliance with any other local law. If the User is accessing our Services from outside the United Kingdom, the User must satisfy itself of any other local law requirements.

33.1 The User agrees that these Terms and any claim, dispute or controversy arising out of in connection with these Terms or their subject matter or formation (including non-contractual disputes or claims), the Services, the Application, Currency Lab’s advertising or any related transaction between the User and Currency Lab shall be governed by and construed in accordance with English law.

33.2 Any dispute or claim arising out of or in connection with such matters (including non-contractual disputes or claims) will be subject to the exclusive jurisdiction of the courts of England and Wales.

34.1 Currency Lab may change or discontinue the Services and/or the availability of the Application at any time without prior notice. Currency Lab reserves the right to terminate these Terms for any reason, without notice, and these Terms shall automatically terminate in the event that the User violates any of the Terms set forth herein (with prejudice to our accumulated rights against the User).

34.2 In the event of any termination, the User will immediately cease use of the Services and the Application.

35.1 These Terms are agreed between the User and us. No person shall have any rights under or connection with these Terms under the Contracts (Rights of Third Parties) Act 1999.

35.2 If any court or competent authority decides that any term of these Terms is held to be invalid, unlawful or unenforceable to any extent, such term shall, to that extent only, be severed from the remaining terms, which shall continue to be valid to the fullest extent permitted by law.

35.3 Currency Lab reserves the right to charge interest on any late payments at the rate of 8% per annum above the base rate of the Bank of England. Interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment.

35.4 Headings are for reference purposes only and in no way define, limit, construe or describe the extent or scope of such section.

35.5 Our failure to enforce any provision of these Terms shall not constitute a waiver of that or any other provision and will not relieve the User from the obligation to comply with such provision.

35.6 The User is not permitted to assign, transfer, charge, sub-contract or deal in any other manner with all or any of its rights under these Terms without our prior express written consent.

35.7 These Terms set forth the entire understanding and agreement between the User and Currency Lab with respect to the subject matter hereof.