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Terms and conditions of service

1 These Terms

1.1 What these terms cover. These are the terms and conditions on which we supply the Service (as defined below) to you. By using the Service, you accept these terms and you agree to be bound by them.

1.2 Why you should read them. Please read these terms carefully before you use the Service. These terms tell you who we are, how we provide the Service, how we may make changes to these terms and other important information.

2 Definitions and interpretation

2.1 The following definitions apply in these terms:

App: means the mobile software application entitled “Oya” provided by us and through which we provide the Service.

Business Day: means a day other than a Saturday, Sunday or public holiday in England.

Contract: means the contract between you and us in the terms of these terms and conditions after you have accepted them.

Exchange Rate: means the exchange rate between Pound Sterling (GBP) and US Dollars (USD) as determined by us.

Fee: means the fees payable by you to us for the Service.

Force Majeure Event: means any act of God, flood, drought, earthquake or other natural disaster; epidemic or pandemic; terrorist attack, civil war, civil commotion or riots, war, threat of or preparation for war, armed conflict, imposition of sanctions, embargo, or breaking off of diplomatic relations; nuclear, chemical or biological contamination or sonic boom; any law or any action taken by a government or public authority, including imposing an export or import restriction, quota or prohibition, or failing to grant or renew a necessary licence or consent; collapse of buildings, fire, explosion or accident; non-performance by suppliers, subcontractors or other third parties; and interruption, malfunction or failure of the internet or any other utility or communication service.

Oya: means Volopa Financial Services (Scotland) Limited, incorporated and registered in Scotland with company number SC399401 trading as “Oya” and “Volopa”. The terms “us”, “we” and “our” shall be interpreted accordingly.

Transfer: means an instruction to use the Service given to us using your account on the App.

Prohibited Purpose: means any unlawful purpose, including the transfer or receipt of payment for illegal activities, the transfer of funds which constitute proceeds of crime or money laundering under the Proceeds of Crime Act 2002 or which are obtained by illegal activity, the transfer of funds for the purpose of funding illegal or terrorist activity, the transfer of funds for the purpose of avoiding the seizure by law enforcement authorities or under orders of any court of law and any transfer of funds without the permission of their owner.

PSR 2017: means the Payment Services Regulations 2017.

Recipient: means the person who is the intended recipient of funds under a Transfer.

Service: means the money transfer service provided by Oya through the App in accordance with these terms and conditions.

You and your: means a person who has opened an account with Oya that allows them to access and use the Service.

2.2 These terms make reference to the “Transfer status” screen in the App. We may change the name of that screen in the future. Accordingly, any reference to the “Transfer status” screen shall include any change of name we may make to it from time to time.

2.3 These terms make reference to the “Pay” button in the App. We may change the name of that button in the future, for example to “Send”, “Transfer” or another similar word. Accordingly, any reference to the “Pay” button shall include any change of name we may make to it from time to time.

2.4 Any words used but not otherwise defined in these terms shall be interpreted in accordance with the definitions given in the PSR 2017.

3 Information about us and how to contact us

3.1 Who we are. We are Volopa Financial Services (Scotland) Limited, a company registered in Scotland trading as “Oya” and “Volopa” with company number is SC399401. Our head office is at 25 Wilton Road, Victoria, London SW1V 1LW and our registered office is at Maclay Murray & Spens LLP, 1 George Square, Glasgow, G2 1AL. Our registered VAT number is 178562664. We are authorised by the Financial Conduct Authority with firm reference number 554549 to provide payment services. We are also licensed by the Central Bank of Nigeria as an International Money Transfer Operator.

3.2 How to contact us. You can contact our customer support team at +44 (0)333 400 1271 (between 9 am to 5 pm, Monday to Friday excluding public holidays in England) or by email on

3.3 How we may contact you. If we have to contact you, we will do so in writing through the App or to your email address or phone number that you have given us.

3.4 Language we will communicate in. We only provide the Service in English and all legal information and notices we need to give you will be in English.

3.5 Copy of these terms. All information that we need to give you by law in relation to the Service is contained in these terms. You can obtain a copy of the latest version of these terms at

4 How the service will be provided

4.1 Making a Transfer. The App will guide you through all the steps and information needed to make a Transfer and will specify our Fee and the Exchange Rate for each particular Transfer.

4.2 Status of Transfers. Each Transfer constitutes an offer by you to use the Service on these terms and is subject to our acceptance in accordance with these terms.

4.3 Authorisation of Transfers. You authorise and consent to the execution of each Transfer immediately after the “Pay” button is pressed in the App in relation to the Transfer.

4.4 Orders cannot be changed. Carefully check all details are correct before pressing the “Pay” button in the App as you will not be able to revoke or change any Transfer.

4.5 Receipt of your Transfers.We will be regarded as having received each Transfer once the “Transfer status” screen appears in the App in relation to the Transfer, showing the status of it. This screen should appear after you press the “Pay” button.

4.6 Acceptance of your Transfers. Our acceptance of each Transfer will take place when we give you confirmation in the App that we are processing it. Except where clause 4.7 or clause 8.7 applies, we will process all Transfers within 24 hours following receipt.

4.7 Declined Transfers. We are not obliged to accept all Transfers and we may refuse to provide the Service in respect of any Transfer in any the following circumstances:

  • (a) If we have any doubts about the accuracy of the details stated in the Transfer;
  • (b) There are insufficient funds in your payment card to satisfy the Transfer and our Fee;
  • (c) If we are requested to do so by any regulatory body or bank;
  • (d) If our security validation, verification and anti-money laundering procedures have not been completed to our satisfaction;
  • (e) If you are in breach of any of these terms or any representation, warranty or statement provided by you is untrue, inaccurate or misleading;
  • (f) If we believe that the performance of the Transfer might cause us or you to breach any applicable law, regulation, authorisation or permission;
  • (g) If you or the Recipient has exceeded the maximum number or value of Transfers permitted by us;
  • (h) If your Transfer amount is below our minimum threshold; or
  • (i) Otherwise in our absolute discretion.

Except where notification would be unlawful, if we do not accept a Transfer, we will notify you in the App and by email. You can contact our customer support team who can, where possible, provide you with the reasons for the refusal and the procedure you need to follow for rectifying any errors that led to the refusal.

4.8 Spending limits. In order to protect your account with us, we have placed limits on the number and value of Transfers that can be made over a period of time. You can find these limits in the FAQ section of the App and our website at or by contacting our customer support team.

4.9 Financial advice. We do not give any financial advice, including on the merits of using the Service. When using the Service, you must rely on your own judgment.

5 Payment statements

We will provide you with information in the App and by email related to each Transfer we have accepted, including:

  • (a) A reference enabling you to identify the Transfer;
  • (b)The amount you are sending in Pound Sterling;
  • (c)The amount the Recipient will receive in US Dollars;
  • (d)The Exchange Rate used for the Transfer;
  • (e)The Fee payable to Oya for the Transfer; and
  • (f) Your Recipient’s details including their bank details used for the Transfer.

6 Safeguards and corrective measures

6.1 Security credentials. You must take all reasonable steps to keep safe and confidential all personal details and credentials that we use to authenticate and verify your identity, the use of your account on the App and Transfers.

6.2 Notice of unauthorised use. You must only use the App in accordance with these terms and you must notify us without delay if you become aware of any unauthorised use of your account on the App by contacting our customer support team. If you contact us at any time other than between 9 am to 5 pm on Monday to Friday (excluding public holidays in England), then we will be deemed to receive your notice at 9 am on the next Business Day.

6.3 If we suspect any unauthorised use. Except where it would compromise our security measures or is unlawful, if we identify or suspect any fraud or security threat to your account then we will inform you by email or phone.

6.4 Suspending use of your account. We may suspend or stop use of your account on the App if:

  • (a) we receive any notification from you under clause 6.2;
  • (b) we consider that it is reasonable to do so on grounds relating to the security, or the suspected fraudulent or unauthorised use, of your account on the App; or
  • (c) Our security validation, verification and anti-money laundering procedures have not been completed to our satisfaction.

Except where it would compromise our security measures or is unlawful, we will contact you by email or phone after stopping use of your account on the App to inform you that we have done so and the reasons why.

6.5 Right of redress for unauthorised Transfers. If we process a Transfer that you have not authorised in accordance with clause 4.3 then, subject to any legal exception (including if we suspect you have acted fraudulently), we will refund the amount of the unauthorised payment transaction to you by the end of the next Business Day after we become aware of the unauthorised transaction. Please note that it may take a further three and five Business Days for the refunds to show in your account.

6.6 Our liability for correct execution. If we are legally liable to you for the correct execution of a Transfer then we will refund to you the amount of the non-executed or defective Transfer without undue delay.

6.7 Entitlement to refunds. Your entitlement to a refund under clause 6.5 and clause 6.6 is conditional on you notifying us without delay after you become aware (and in any event within 13 months of the debit date) of the unauthorised or incorrectly executed Transfer.

7 Fees and exchange rates

7.1 The App will inform you, before you press “Pay” in relation to a Transfer, about the following:

  • (a) the Fee payable by you to us for the Transfer; and
  • (b) Details of the Exchange Rate to be applied for the Transfer.

7.2 By submitting a Transfer, you authorise us to take payment of the Fee for that Transfer using your same payment card details supplied by you in connection with the Transfer.

8 Our rights, responsibilities and liability

8.1 Quality of service. We will perform the Service with reasonable care and skill.

8.2 Reasons we may suspend the supply of the Service to you. We may have to temporarily suspend the Service in order to:

  • (a) Deal with technical problems or make technical changes; or
  • (b) Update the App to reflect changes in relevant laws and regulatory requirements.

8.3 Our responsibility for loss and damage suffered by you. If we fail to comply with these terms, we are only responsible for loss or damage you suffer that is a foreseeable result of our failure to perform our obligations under these terms. We are not responsible for any loss or damage you suffer that is not foreseeable. Loss or damage is foreseeable if it is obvious that it will happen.

8.4 Liability which is not excluded. We do not exclude or limit our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors, or for fraud or fraudulent misrepresentation.

8.5 Maximum amount of our liability. Our liability to you in connection with these terms shall be limited to the total Fees paid by you to us under them. Our liability to you in relation to each Transfer shall be limited to the Fee paid by you to us for that Transfer.

8.6 We are not liable for exercising our rights. We will not have any liability to you for exercising our rights and discretions under these terms, including if we refuse to accept a Transfer, suspend the Service or stop use of your account on the App.

8.7 We are not liable for matters outside our control. If our supply of the Service or performance of any other obligation under these terms is delayed by an event outside our control, including any Force Majeure Event, then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay. We will not be liable to you for delays or for any failure to perform our obligations under these terms caused by any such event.

8.8 We are not liable for business losses. We only supply the Service for private use. If you use the Service for any commercial or business purpose, we will not have any liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

8.9 Intellectual property in the App. We are the owner of all intellectual property rights in the App and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

9 Your obligations

Your promises to us. You represent and warrant to us that:

  • (a) You are aged over 18 years old;
  • (b) All personal details you have provided us about yourself are complete and correct;
  • (c) All information, including the Recipient’s details, provided to us as part of a Transfer will be complete and correct;
  • (d) All funds which you transfer will be paid from a UK payment card registered in your name;
  • (e) You will not use or attempt to use the App or the Service for any unlawful purpose or any Prohibited Purpose; and
  • (f) You will only use the Service for your own use and not for any commercial purpose or as an agent or for the benefit or on behalf of any other person.

9.2 Your obligations. In addition to your other obligations stated in these terms, you agree to provide us with such information, including about your identity and source of funds, and about the Recipient, as we may require to comply with our obligations under these terms or any law, regulation, authorisation or consent binding on us.

10 Changes and termination of these terms

10.1 Duration of the Contract. The Contract shall continue until terminated by you or by us in accordance with this clause 10.

10.2 Changes to these terms. We may make changes to these terms from time to time. If we do, we will provide you with details of the proposed changes no later than two months before the date on which they are to take effect.

10.3 Your acceptance or rejection of changes. You will be deemed to have accepted any changes to these terms proposed by us unless you decide to terminate this agreement before the date on which the changes are to take effect.

10.4 If you want to terminate your contract with us. You may terminate this agreement at any time by contacting our customer support team. If you terminate this agreement, you will not be able to use the Service.

10.5 Our right to terminate. We may terminate this agreement by giving you not less than two months’ written notice.

11 How we may use your personal information

We will only use your personal information as set out in our privacy policy which you can view by clicking here. The privacy policy also applies to your use of the App.

12 Complaints

12.1 If you are unhappy with our Service. We aim to provide the highest level of customer service possible. Please contact us using our contact details given above if you experience any problem with the Service. We will always seek to resolve this as quickly and efficiently as possible.

12.2 Escalation to the Financial Ombudsman Service. We will fully investigate any complaint and try to reach a satisfactory conclusion. If you are not satisfied with our final response or if we have not concluded our investigation after 8 weeks of your complaint being made then you may be able to refer your complaint to The Financial Ombudsman Service, Exchange Tower, Harbour Exchange, London, E14 9SR.

13 Other important times

13.1 We may transfer the Contract to someone else. We may transfer our rights and obligations under these terms to another organisation. We will tell you in writing if this happens and we will ensure the transfer will not affect your rights under these terms.

13.2 You may not transfer your rights to someone else. You may not transfer any of your rights or your obligations under these terms to any other person.

13.3 Nobody else has any rights under this contract The Contract is personal between you and us. No other person shall have any rights to enforce any of its terms.

13.4 If a court finds part of these terms illegal, the rest will continue in force. Each clause and sentence operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining clauses and sentences will remain in full force and effect.

13.5 Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breach of the Contract, it will not mean that you do not have to do those things and it will not prevent us from taking steps against you in respect of your breach at a later date.

13.6 Payment services regulations. Regulations 86 to 88 (except regulation 86(3)) of the PSR 2017 do not apply to the Contract. These regulations only need to apply to payment transactions which are either in Euro, executed entirely within the UK in Pound Sterling or involve only one currency conversion between Euro and Pound Sterling.

13.7 All terms of the agreement between us. These terms together with all Transfers we accept constitute the entire agreement between you and us. They supersede and extinguish all other agreements, promises, assurances, warranties, representations and understandings, whether written or oral, relating to them.

13.8 No remedies for other terms. Neither you nor us will have any remedy in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in the Contract or any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in these terms.

13.9 The law applicable to this contract. These terms are governed by laws of England.

13.10 Where you may bring legal proceedings. You may bring legal proceedings in respect of these terms in the English courts or (if you live in Wales) in either the Welsh or the English courts or (if you live in Scotland) in either the Scottish or the English courts or (if you live in Northern Ireland) in either the Northern Irish or the English courts.