Who we are and how to contact us
NALA Payments Limited is a company incorporated and licensed under the laws of the United Kingdom, (company number 12792210) with its Registered Office located at International House, 64 Nile Street, London, United Kingdom, N1 7SR (“NALA”).NALA Payments Ltd is an agent of Modulr FS Limited which is regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money for the issuing of electronic money, under firm reference number 902973.
NALA can be contacted via the following means: Post using the address: International House, 64 Nile Street, London, United Kingdom, N1 7SR, Email using the email address: support@nala.money, Website: www.nala.money
What NALA’s services do
NALA enables you to use:our Money Transfer services; our Digital Money Account (including redeeming electronic money and paying the proceeds of redemption to yourself or another person); and/orAirtime Top Up.Relating to money transfer services, NALA allows you to store funds in your mobile wallet and to transmit or receive payments with other NALA customers. You can make payments from the funds you hold in your (i) digital wallet, (ii) your linked U.K. bank account, or (iii) your linked U.K. debit / credit card. You can also receive payments into your account.Relating to digital wallets, this is a function which stores E-money in a non-interest bearing account maintained by us for you, and which provides such features as we may make available from time to time. These features may include (without limitation) the ability to:load E-money into your digital wallet, see the balance of E-money held in that digital wallet, denominate E-money in the different currencies we make available in the digital wallet from time to time; give instructions for E-money to be transferred to another person's digital wallet, redeem E-money and transfer the proceeds either to yourself or to another recipient, buy Airtime Top Up with the proceeds of E-money and transfer this either to yourself or to another recipient.Relating to Airtime Top Up, this refers to the service which allows you to credit a mobile phone account with credit which can be used by the mobile phone account holder to make calls, send text or picture messages and use data. It is credited to your own or another recipient’s mobile phone account typically within a few seconds.
Registering to use the NALA services
In order to use the application, you must be 18 years of age and a resident of the UK or another originating country approved by NALA, have a payment account in your name, and be registered with NALA. In order to access the NALA app, you must have a cellular device that is compatible with iPhone or Android application software. In order to register, you must download the application and provide NALA with information about yourself, such as your name, telephone number, email address and other information or documentation, including a photo of your government-issued identification document, that will allow us to verify your identity. You agree to provide complete and accurate information and/or documentation in connection with the registration process, and you further agree to update this information as may be reasonable or necessary to keep it complete and accurate at all times. We shall use this information as set out in our Privacy Policy which is available here https://www.iwantnala.com/privacy-policy. Your use of the application and our service is subject to our ability to verify your identity. You authorize NALA to obtain information about you from third parties (including financial institutions, credit reporting agencies and your telephone service provider), although NALA has no obligation to do so.
If you do not provide accurate and complete information during registration or when requesting a service, we have the right to prohibit you from using the service or the application or to stop your requested payment. Inaccurate and/or incomplete information provided by you during registration or when requesting a transfer may cause errors in your requested payment, or may delay or restrict your access to the application or service.Upon registration for an account, you must create a password associated with your contact information. Once you enable your security credential you will then be prompted to use a security credential each time you attempt to transfer funds.
Using the NALA services
Each time you access the application, you are confirming the accuracy and completeness of all of your registration information to us. In the event that you attempt to log in to your account from a new device, we will prompt you to enter your password to access your account from a new device.Before your transaction is complete, you will be provided with the following information:The amount you have selected to send (local currency),The amount the recipient will receive (applicable foreign currency),An indication of the exchange rate that we will apply to your transaction,The payment information that you have selected to fund this transaction.
By clicking “Submit” you verify that this information is correct and intentional to the best of your knowledge, and authorize NALA to initiate this transfer on your behalf, including the extraction of funds from your provided method of payment.If you wish to withdraw your content to complete this transaction at any time prior to submission, pressing “Cancel” will effectively cancel your transaction.The application and service are generally available 24 hours a day, 7 days a week, 365 days a year. Generally, your recipient is paid instantly through the application; accordingly, once you originate a transfer, you may be unable to stop or change it.
Availability of the NALA services
Although the application and service is generally available 24 hours a day, 7 days a week, 365 days a year, there may be times when the service is unavailable. Periods of unavailability may be caused by NALA’s own acts (such as temporary periods when the application and service is taken off-line to make upgrades or improvements), or by events beyond NALA’s control, such as power outages, telecommunications failures, war or civil unrest, natural disasters or other acts of God.
E-money in your account
Any E-money that NALA shows as being "held" in your digital wallet is a record of the cash-equivalent value that you are entitled to receive from us.
Any E-money in your digital wallet is not a deposit, which means that it is not protected under any deposit protection scheme in the UK or that may exist in your country. Instead, NALA holds and manages E-money in the UK in accordance with the laws, rules and regulations applicable to authorised electronic money issuers in the UK. Any E-money in your digital wallet also does not represent a loan arrangement or any other form of credit.
Limits on transfers
NALA may from time to time set limits on the value of transfers you may send (both individually and over a period of time), as well as the value of transfers any recipient may receive. NALA may delay payment of your transfer to allow NALA to determine that your Remittance complies with applicable law, regulation or NALA’s policies. NALA has the right, without notice to you, to refuse to accept or pay any transfer that NALA determines in our sole discretion may violate applicable law, regulation or our policies, including laws, regulations and policies intended to help detect and prevent money-laundering, terrorist financing, fraud, and other abuses of financial services; if we accept a transfer and then determine that it may violate any such law, regulation or policy, we may hold the transfer until such time that the matter is resolved.
Fees and charges
Fees will apply to transactions carried out through the NALA platform. The fees charged will depend on among other factors; your location, recipient country, prevailing partner costs, payout method, currency, and transfer amount. NALA will disclose its fees and charges for providing the service to you before you initiate a payment. By proceeding with the transaction, you acknowledge and agree to the fee as presented at that time.
NALA also charges a fixed markup on the foreign exchange rate for cross border payments. In addition to the fees and charges, NALA will also show you the foreign exchange rate (that is, the rate at which your funds will be converted into the currency to be paid to your recipient) applicable to your transfer before you send it. NALA's foreign exchange rates change day to day, and in some instances intraday.
Fees shown at the time of the transaction represent the total service charge applicable to that transfer and Nala’s Fees are applied in accordance with applicable laws and regulations.
NALA may adjust its fee structure from time to time. Any changes will be reflected in the fee information displayed before you confirm a transaction and, where required, communicated to you.
Language and information
The language of any agreement between you and us, including these Terms & Conditions and the Privacy Policy, is English, and all services, instructions and transactions carried out in connection with it will be in English. Upon registering for a NALA account, the Terms & Conditions will be made available to you within the application. Any necessary transmission of information, including information relating to the account, will be provided within your NALA app, [from which you can download the relevant information]. Updated information will be provided within the app whenever there is a change to existing Terms & Conditions.
Preventing fraud
Your account and registration are personal to you. You should not allow your registration details to be used by anyone else. Registration with NALA allows your payment account to be accessed through the application. If you suspect any fraud on your account, of if you suspect that your registration details or other security credentials have been compromised, you must contact us immediately at support@nala.money. You authorise NALA, in order to provide you with the application and services, to view, monitor and analyse all activity in your account and to track, predict, report on and monitor fraud and other suspicious or financially risky activity. You further authorise NALA to investigate any potential fraud, suspicious or financially risky activity.Where NALA’s analysis of your account indicates that there is likelihood of fraud, suspicious activity or financially risky behaviour occurring that can be eliminated, reduced or prevented by taking any action permitted (including but not limited to suspending or declining payments), you further authorise NALA to implement such action.
Liability for incorrect payments
You represent and warrant that all information you enter into the application or otherwise provide to NALA is true and complete, including information about you, your Payment Account, and the person to whom you are sending money (your “Beneficiary”). When processing a transfer, NALA may rely on the registration information and transfer information that you provide. You acknowledge that any errors in the information, including misidentification of your Beneficiary, incorrect or inconsistent account names and numbers, or misspellings, are your responsibility and that NALA shall have no liability for executing a transfer based upon the inaccurate or incomplete information you provided or entered.
You agree that NALA may request your mobile carrier to help verify your identity, including your name, billing and email address, and location.If NALA is unable to complete payment of the transfer to your Beneficiary because you provided incorrect information about the Beneficiary, such as an incorrect telephone number, an incorrect or misspelled name, the wrong bank or bank account or any other misinformation, you will be liable for any costs, fees, expenses and losses that NALA incurs in returning the transfer to you, such as processing costs, losses arising due to exchange rate fluctuations and third party service charges.
Because NALA credits transfers to Beneficiaries immediately, your transfers are typically not cancellable or refundable. If you believe that you sent a transfer in error, you must contact us within thirty (30) minutes after you initiated the transfer at support@nala.money and we will attempt to recall the transfer, but we may be unable to do so if the transfer has already been credited to your Beneficiary's account or if your Beneficiary has already withdrawn or moved the funds; if NALA is unable to recall your transfer, NALA will have no liability to you. However, if your transfer has not yet been paid, NALA will cancel it and refund the principal amount, together with any associated fees you may have paid, to you.You have a right to dispute errors in your transaction. There is no charge for this service. If you think there is an error, you must contact us immediately, and in any case within 13 months after the execution of the transaction, and provide your name, contact information, the Beneficiary's name, date of transfer, as well as the reason you believe there has been an error. NALA will determine whether an error occurred and will promptly reply to you within 15 business days of receipt of your complaint; or, in exceptional circumstances, we will send you a holding reply within 15 business days specifying the deadline by which you will receive our final response, being no later than 35 business days from the date of your initial complaint. If NALA was at fault, you will be entitled to a refund or to have the payment re-sent free of charge.
If no error occurred or NALA was not at fault, you will receive a written notice including the information that NALA relied on to make that determination.If NALA has charged your account for a transfer which you did not authorize, we will refund the amount of the transfer promptly and at the latest by the end of the business day following the day on which we were notified of or otherwise became aware of the unauthorized transfer. However, in case there are reasonable indications of a fraudulent activity by you, our obligation to refund will be suspended, pending further investigation, and such investigation will be undertaken promptly.
NALA shall not be liable to you for any loss resulting from NALA's inability to cancel or refund a transfer. If NALA refunds a transfer to you, the refund may be paid by a credit to your account.
Liability and indemnity
In consideration of our agreement to provide you with the application and service, you agree to indemnify and hold NALA harmless from and against any and all claims, suits, judgments, executions, liabilities, losses, damages, costs, and expenses - including reasonable attorney's fees - in connection with or arising out of (i) your use of the application or the service, (ii) your breach of this Agreement, or (iii) NALA acting upon your request for a transfer. You will however only be liable up to the maximum amount of GBP 35 for losses that result from unauthorized payments resulting from the misappropriation or the use of your lost or stolen mobile phone (or other electronic device by which you access and use the Service) and/or password. Your liability will not be limited if you acted with fraudulent intent or contributed to the misuse of your mobile phone and/or password intentionally or through grossly negligent conduct. Gross negligence in particular includes but is not limited to cases in which you do not promptly notify us about a misuse, loss or theft of your mobile phone and/or password or if you do not keep them safe or disclose them to third parties. NALA shall neither be liable for any breach of our obligations under the agreement to you nor for any failure or delay in performance of any obligations under the agreement arising from or attributable to acts, events, omissions or accidents beyond our reasonable control, including, without limitation, where our failure to perform our obligations arise from:an act of God, fire, flood, earthquake, windstorm or other natural disaster, explosion or accidental damage, war, threat of or preparation for war, armed conflict, imposition of sanctions, embargo, export controls, breaking off of diplomatic relations or similar actions, terrorist attack, civil war, civil commotion or riots, pandemic or epidemic, industrial disputes, shortages of raw materials or components, general disruptions to transportation, telecommunication systems, power supply or other utilities, the acts, decrees, legislation, regulations or restrictions imposed by any government or state, the actions or omissions of the third parties, malfunctions in communications facilities which cannot reasonably be considered to be under our control and that may affect the accuracy or timeliness of messages you send to us, any losses or delays in transmission of messages arising out of the use of any internet access service provider or caused by any browser or other software which is not under our control, or any Malicious Code interfering with the service.
When these Terms & Conditions apply and how they change
The Terms & Conditions are effective from the point you agree to these Terms & Conditions. The Terms & Conditions are conducted for an indefinite period and will continue to apply until terminated by you or us in accordance with these Terms & Conditions. We may amend the Terms & Conditions from time to time and will give you notice at least two months in advance, by providing you with a link to a copy of the revised Terms & Conditions and will notify you of the proposed date of entry into force. You understand that you will be deemed to have accepted the changes to the Terms & Conditions unless you terminate your use of the service and the Terms & Conditions before they come into force. If you reject any changes, you have the right to terminate free of charge and with effect at any time until the date the changes would have applied.
When these Terms & Conditions terminate and redemption of your E-money
NALA may terminate these Terms & Conditions at any time, on at least two months’ notice to you. You may close your account and terminate the Terms & Conditions at any point in time for any reason by selecting that option within your account. Any termination of the Terms & Conditions or cessation of services does not relieve you of obligations to pay fees or costs accrued prior to the termination. You have a right to redeem your E-Money form your digital wallet after termination of the Terms & Conditions, and to transfer the proceeds either to yourself or to another recipient. If you do so within one year of termination of the Terms & Conditions such redemption will be free of charge via NALA’s standard transfer mechanisms; if you do so more than one year after termination of the Terms & Conditions we may apply a fee which will be deducted from the proceeds of the redemption. Six years after termination of the Terms & Conditions, any remaining E-money will become the property of NALA and you will no longer be able to redeem it.
Use of Data for Marketing Purposes
Marketing Communications
We may use your personal information to send you information about our products, services, promotions, offers, and updates that may be of interest to you. These communications may be sent by email, SMS, push notifications, or through other digital channels. We will only send electronic marketing where we have obtained your valid consent under PECR or where the ‘soft opt-in’ applies; you may object or withdraw consent at any time in line with the process laid down in our Privacy Policy.
Lawful Basis and Consent
We will only send you marketing communications where permitted by law and, where required, only with your consent. You may withdraw your consent or opt out of receiving marketing messages at any time by following the unsubscribe instructions included in each message or by adjusting your preferences within your NALA account.
Personalised and Non-Personalised Marketing
We may use limited profiling to tailor marketing content to your preferences and transaction behaviour. We may also use anonymised and aggregated data to analyse and improve our marketing performance and customer experience. This data does not identify you personally.
Third-Party Marketing
We will not share your personal information with third parties for their independent marketing purposes unless you have expressly consented to such sharing or it is otherwise permitted by our Privacy Policy. For please here for the basis of our data collection, justification and usage with our third parties.
Relationship to Privacy Policy
Further details about how we collect, process, and protect your personal data for marketing and other purposes are set out in our Privacy Policy, which forms part of these Terms.
Miscellaneous Waiver
No failure or delay by a party to exercise any right or remedy provided under these Terms & Conditions or by law shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.
Remedies
Except as expressly provided in these Terms & Conditions, the rights and remedies provided under these Terms & Conditions are in addition to, and not exclusive of, any rights or remedies provided by law.
Entire Agreement
Each party acknowledges that (i) these Terms & Conditions contain the whole agreement between the parties relating to the subject matter hereof and supersede all prior agreements, arrangements and understandings between the parties relating to that subject matter; (ii) in entering into these Terms & Conditions, it does not rely on any statement, representation, assurance or warranty (whether it was made negligently or innocently) of any person (whether a party to these Terms & Conditions or not) (“Representation”) other than as expressly set out in this Agreement; and (iii) the only rights and remedies available to it arising out of or in connection with a Representation shall be for breach of contract.
Severance
If any provision or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of these Terms & Conditions.
Third party rights
A person who is not a party to these Terms & Conditions shall not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Terms & Conditions, but this does not affect any right or remedy of a third party which exists, or is available, apart from that Act.
No partnership or agency
Nothing in this Agreement is intended to, or shall be deemed to, establish any partnership or joint venture. Each party confirms it is acting on its own behalf and not for the benefit of any other person. In particular, you agree not to use the NALA app or services on behalf of, or as an agent of, any other person.
Governing law, jurisdiction and complaints
Contracts for the purchase of our services using the website or the application and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) will be governed by English law. Any dispute or claim arising out of or in connection with such contracts or their formation (including non-contractual disputes or claims) will be subject to the non-exclusive jurisdiction of the courts of England and Wales. The foregoing shall be without prejudice to your statutory rights.The Financial Ombudsman Service is an independent body that helps settle complaints between customers and firms regulated by the FCA.
If we are unable to resolve your complaint satisfactorily you may qualify to escalate your complaint to the Financial Ombudsman Service by post, addressing your complaint to the Financial Ombudsman Service, Exchange Tower, London E14 9SR, by email to complaint.info@financial-ombudsman.org.uk or by telephone on 0300 123 9 123 or 0800 023 4567. The Financial Ombudsman Service’s website is http://www.financial-ombudsman.org.uk.
Further information regarding the Financial Ombudsman Service and whether you qualify for this service is available on the Financial Ombudsman Service’s website or can be requested by contacting Square Support. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.
Peer-to-Peer Transfers ("Nala Tags")
The terms and conditions for Peer-to-Peer Transfers are available
. By using the Peer-to-Peer Transfers Service you agree to be bound by these terms and conditions.