Merchant Terms and Conditions

for Monolay Bank Account Data Services

The Merchant Terms and Conditions govern the use of Monolay Limited’s Bank Account Data Services.

These terms, dated 15th January 2026, outline how Monolay provides Account Information Services (AIS) — aggregating financial account information from banks and other financial institutions in accordance with end user instructions.

Monolay Limited, regulated by the Financial Conduct Authority (FCA) in the United Kingdom, provides these services to end users located in the UK and globally (excluding the European Economic Area).

Agreement to the Terms

By accepting these Terms, you agree that you are:

Entering into the agreement on behalf of yourself or the company you represent.
Bound by these Terms and any additional policies, conditions, or rules required to receive the Services.
Of legal age in your jurisdiction and have full capacity to enter into a binding contract.
Using the Services for lawful and legitimate purposes only.
Acknowledging and accepting that these Terms may change over time.

These Terms, together with other documents such as the Privacy Policy, form a binding agreement between you (or the entity you represent) and Monolay Limited.
You must not access or use the Services if you do not agree to these Terms.

The Services

Monolay’s Services enable you to use the Open Banking API to retrieve your end users’ account information for use within your own applications or platforms.

When using the Services:

You may be required to complete an order form and provide company and personal details (including billing information).
Monolay may verify or request additional information during onboarding or at any time during use.
Monolay reserves the right to suspend or terminate access if information provided is insufficient, invalid, or appears fraudulent.

When accessing end user data, you must ensure:

Each end user provides explicit consent through a clear consent screen.
The consent screen includes links to Monolay’s End User Terms and Privacy Policy.
Monolay’s involvement is accurately represented — including trademark and logo use where applicable.
You comply immediately with any binding instructions issued by Monolay.

If an end user revokes consent, you must:

Immediately cease all data access and revoke consent within your systems.
Notify Monolay without delay, providing relevant details for consent revocation.

Fees and Payments

Use of the Services may be subject to fees, displayed during registration or usage.
You agree to pay all applicable fees and authorise Monolay to charge you according to its payment terms.
All fees are non-refundable unless otherwise stated.

Liability and Warranties

Services are provided “as is” and “as available” without warranties of any kind.
Monolay does not guarantee uninterrupted, error-free service but will use reasonable commercial efforts to maintain availability.
Monolay is not liable for:
- Disruptions, delays, or inaccuracies in data.
- Any reliance placed on data provided via the Services.
- Loss of profit, business, or other indirect damages.
You acknowledge:
- Monolay has no control over data accuracy or completeness from Account Servicing Payment Service Providers (ASPSPs).
- You are solely responsible for your use of the data and compliance with applicable laws.

If Monolay detects or suspects a security breach, it may suspend or disable the Services until investigation is complete.

Intellectual Property and Licence

All intellectual property rights related to the Services — including copyrights, trademarks, patents, and software — remain the sole property of Monolay Limited.
You receive only a limited, non-transferable licence to use the Services for approved purposes.

Agreement Term and Termination

The Agreement takes effect upon your acceptance and remains valid until terminated.
You may terminate or delete your account at any time via the Monolay portal or by contacting support.
Monolay reserves the right to terminate or change your pricing plan if Monolay deems the usage to be excessive.
Monolay may suspend or revoke access if you:
- Breach these Terms.
- Engage in unlawful activity.
- Fail to pay applicable fees.
- Become insolvent or cease trading.

Confidentiality

All confidential information obtained through the Services must be kept private and not disclosed to any third party, except as required by law or authorised by Monolay.

General Provisions

These Terms are governed by the laws of England and Wales.
Monolay may update or modify these Terms at any time, notifying you via website, email, or electronic message.
You are responsible for reviewing the Terms periodically.
Continued use of the Services constitutes acceptance of any changes.
If you do not accept updated Terms, Monolay may terminate your account.

Provider: Monolay Limited

Authorised and regulated by the Financial Conduct Authority (FCA), United Kingdom