Wollit General Terms

Wollit Ltd (Wollit/us/we) is a company registered in England and Wales, with company number 10687003, and with registered office at 35 Ballards Lane, London, United Kingdom, N3 1XW, and with trading address at 8 Denmark Street, London, United Kingdom, WC2H 8LS.

These are the legal terms that apply to your use of the Wollit app (App), and the services offered through the App by us (Wollit Services). You agree to these terms by using the App and Wollit Services.

If you have any questions or need to contact us, please email us at [email protected]

2. Wollit Services

The App provides products and services which seek to improve your financial health and access to and understanding of credit.

Some Wollit Services are provided free of charge. These include:

an Affordability Risk Monitor
a Buy Now Pay Later Spend Tracker
financial education guides and content

Some Wollit Services are paid-for, such as our Credit Builder Service.

To use our Credit Builder Service you will be required to agree to Wollit's Credit Builder Service Terms and Conditions (Credit Builder Service Terms) which are the legal terms that will apply to you together with these terms, our App terms of use and privacy policy when you use the Credit Builder Service.

If you would like to cancel your Credit Builder Service plan then you should do so using the Credit Builder Service Terms. Please read them carefully before you do so.

Cancelling your Credit Builder Service plan will not automatically cancel your use of other Wollit Services on the App. You can do this by emailing [email protected].

Wollit Services do not constitute the provision to you of any investment advice or financial advice. We do not make any representations, warranties or guarantees of any kind that any or all of the Wollit Services or the App are suitable or appropriate for you.

3. Eligibility and application

In order to use the Wollit Services, you must:

be 18 years or over;
be resident in the UK;
hold a personal bank account in the UK;
complete the application process through the App; and
accept these terms and conditions, the App terms of use and the Wollit privacy policy.

You may only hold one Wollit Services account and may not apply for multiple accounts through the App.

By completing the application to receive Wollit Services, you confirm that the information you have provided is accurate and complete.

Wollit may reject your application if any information provided in the application is found to be incorrect or incomplete or if Wollit has been unable to complete identity verification checks to its satisfaction.

We have the right to reject any application for Wollit Services at our discretion without giving any reasons for doing so.

4. Open banking

In order to provide the Wollit Services, Wollit requires a read-only connection to your main personal bank account held in the UK (“Personal Account”). Your Personal Account should be the account you consider to be your main account, being the account your income is paid into, and the account you use for your day to day spending. If your Personal Account is no longer your main personal banking account in the UK, you must update the details within the app in order for us to continue to provide Wollit Services.

TrueLayer Limited

You agree that we may and you instruct us (and our supplier TrueLayer Limited (“TrueLayer”)) as your agent and representative to access, retrieve and use your Personal Account data in order to:

view and monitor your Personal Account balances and transactions
make and store a copy of your Personal Account data
analyse the transactions, balances and use of your Personal Account to identify income and spending habits
provide personalised insights, alerts and other tools relating to affordability and financial health

Wollit is an agent of TrueLayer Limited for the purposes of providing account information services. TrueLayer is a company registered in England and Wales under Company Number 10278251, having its registered office at 1 Hardwick Street, Clerkenwell, London EC1R 4RB and is authorised and regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011 (with Firm Reference Number: 901096). Details of TrueLayer Limited's data security and data privacy procedures can be found at https://truelayer.com/privacy/.

During the Wollit Services application process, TrueLayer will take you through a secure process to create read-only access to your Personal Account. You will be required to provide your explicit consent to enable us and TrueLayer to access specific information about your Personal Account on a read-only basis in accordance with this clause.

In the interests of security, we will periodically ask you to renew your consent. You may also withdraw your consent for our read-only access to your Personal Account at any time. However, if you withdraw or fail to renew your consent when requested, we will be unable to continue to provide part of the Wollit Services, and such provision of the affected services will cease immediately.

We will not be able to control your Personal Account, make payments or transfer funds to third parties or otherwise operate any other functionality in respect of your Personal Account. We will not, at any point, process or store your internet banking access details.

We do not check the accuracy of the Personal Account information you provide to us, and we rely on your Personal Account providers to ensure that the Personal Account information provided to us is up-to-date and accurate.

Wollit is not endorsed or sponsored by the providers of your Personal Account.

5. Your Obligations

You must:

notify us promptly if there is any change to your personal or contact details or application information, including your name; your address, your Personal Account; your mobile number; your email address; or your status as a UK resident.
only use the App and Wollit Services for your own personal use.
not use the App or Wollit Services for any unlawful activity, for any unlawful purpose, or in any manner inconsistent with these terms, or act fraudulently or maliciously, or in any manner that may cause offence or harm to any person, or which may infringe the intellectual property or other rights of Wollit or any third party.
not do anything that may disable, modify or harm the App or the Wollit Services.

6. Access and Security

Access to Wollit Services will be provided through the App.

You must not allow any other person to access Wollit Services on your behalf. You must treat your access and authentication details as confidential, and you must not disclose these to any other person.

If you believe your App account has been compromised or do not recognise activity on your account, you should contact us as soon as possible.

If we reasonably suspect or become aware that you have been the subject of fraud or an operational security incident, we may disable some or all of the functionality of your App account until such time as we believe that the suspected incident is resolved.

We have the right to disable any App user, identification code or password, whether chosen by you or allocated by us, at any time if in our opinion, you have failed to comply with any of the provisions of the terms of this clause 6.

7. Privacy

Your personal information will be processed in accordance with the Wollit privacy policy, available here.

8. Intellectual Property

All copyright, trademarks and any other intellectual property rights in all logos, designs, text, images, software and all other materials and content on or within our App (the Content) are owned by Wollit or appear with the permission of the relevant owner.

When we provide you with access to the App and Wollit Services, this is on a licence-basis for your own personal use only, and all intellectual property rights in the Content remain with us.

You are authorised solely to view and retain a copy of the pages of our App for your own personal, non-commercial use. You may also view and make copies of relevant documents, pages, images or other materials on our App for the purposes of applying for or using Wollit Services.

You may not duplicate, reproduce, copy, publish, modify, create derivative works from the Content, or reverse engineer or reverse compile any of the technology associated with the Content.

Additionally, you agree that you will not (i) remove or alter any author, trademark or other proprietary notice displayed on our App (or printed pages produced from our App); and (ii) make any other modifications to any documents obtained from our App other than in connection with completing the information required to transact business with Wollit.

9. Termination

If you do not use the Wollit Credit Builder Service and you have not used the App for 3 months, your access to the App may be deactivated, and you will have to re-apply to use the Wollit Services.

We may end, restrict or suspend our provision of the Wollit Services to you if we provide you with at least 30 days’ notice.

We may end, restrict or suspend our provision of the Wollit Services to you immediately and without notice if:

you materially breach (or we reasonably suspect that you have materially breached) any of these terms; or
you fail to maintain active consent for the read-only connection to your Personal Account.

Termination of these terms for any reason will not affect any liability you have to Wollit under the Wollit Credit Builder Terms.

If we terminate your use of the Wollit Services, you must:

stop all activities authorised by these terms, including your use of any Wollit Services; and
immediately destroy all copies of any pages of the App in regards to the Wollit Credit Builder Service which you have downloaded or otherwise stored.

10. Disclaimers

Whilst we have taken reasonable steps to ensure the accuracy, currency and availability, correctness and completeness of the information contained on the App:

Wollit does not promise that the App or any content, document or feature of Wollit Services will be error-free or uninterrupted, or that any defects will be corrected or that your use of the Wollit Services will provide specific results.
The material on our App or the Wollit Services could include technical inaccuracies or typographical errors. Our App, its content and the Wollit Services are delivered on an "as-is" and "as-available" basis.

11. Exclusion Of Liability

To the fullest extent permitted by law, we hereby exclude any liability direct, indirect or consequential loss or damage incurred by any user in connection with our App or Wollit Services or in connection with the use, inability to use, or results of the use of our App or the Wollit Services, including:

loss of business
loss of income or revenue
loss of profits or contracts
loss of anticipated savings
loss of data
loss of goodwill
wasted management or office time
any other loss or damage of any kind, however arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.

Nothing in these terms limits any liability which cannot legally be limited, including but not limited to liability for:

death or personal injury caused by negligence;
fraud or fraudulent misrepresentation; or
any other liability which cannot be excluded or limited under applicable law.

We are not liable for any failure, suspension and or termination of access to the App or Wollit Services in connection with or arising out of an event which is outside our reasonable control.

12. Other Important Terms

When we can make changes

We reserve the right to vary these terms from time to time in order to reflect changes in law or best practice, to make necessary changes to or add additional features to the Wollit Services, or to make improvements to our provision of the App or Wollit Services, including technical adjustments and improvements (for example, to address a security threat or to run a necessary update), and to correct any error or omission in any information or document issued by us. We will notify you if we make any variations to these terms, and you may ask for a copy of these terms at any time. By continuing to use the Wollit Services after any changes to these terms, you agree to be bound by the amended terms. If you do not agree to any variation of terms that we make, subject to the provisions of clause 2 above, you can cancel your use of the Wollit Services at any time.

Technical specifications

For details of operating models and technical specifications for our App, please see the details in the app store listings.

Our rights under these terms

We may assign any or all of our rights and obligations under these terms. You may not assign any of your rights or obligations under these terms.

Nothing in these terms is intended to, nor shall create, any right enforceable by any third party and the Contracts (Rights of Third Parties) Act 1999 shall not otherwise apply to these terms.

If any provision of these terms is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of the terms.

Any failure by Wollit to exercise any rights or enforce any of these terms shall not constitute a waiver of such rights or terms.

Our agreement with you

These terms constitute the entire agreement between you and Wollit with regard to your use of the Wollit Services, and any and all other written or oral agreements or understandings previously existing between you and Wollit with respect to such use are hereby superseded and cancelled.

Governing Law

These terms and any dispute or claim arising out of or in connection with them shall be governed and construed in accordance with the law of England and Wales.

13. Complaints

If you have a complaint you can contact us by emailing [email protected]. We will aim to respond to any complaints within 7 business days.

You agree that we may contact you by sending an email to the email address you have given us, by SMS message or telephone call to the mobile number you have given us, by post to the mailing address you have given us, or by push notification to your mobile device (where you consent to receive these).