Terms and Conditions

Terms and Conditions

THE MINTED APP LTD

Terms and Conditions of Business

The Customer’s attention is particularly drawn to the provisions of Condition 19 (Limitation of liability).

These Terms and Conditions of Business govern the terms upon which we, The Minted App Limited (Company Number 11738684), trading as Minted, (hereinafter referred to as “we” or “The Minted App”) shall supply you, the customer (hereinafter referred to as “you” or the “Customer”) with services in relation to the sale, purchase and storage of Gold, to include the purchase and sale by you of Gold, the storage of Gold and participation in the Gold Savings Plan via the Customer Platform and any of the services provided by The Minted App, together with the Customer Platform as hereinafter provided (the “Services”).

The Minted App is authorised by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 for the issuing of Electronic Money. FCA Firm Registered Number is 901081.

Please read these Conditions carefully before you use the Services. These Conditions tell you who we are, how we will provide the Services to you, how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these Conditions, please contact us.

The value of Gold can rise or fall both directly and when measured against exchange currencies. Foreign currency exchange rates are subject to fluctuations outside the control of The Minted App and may fluctuate quickly. Historical prices are not a reliable indicator of future prices. Any exchange rate risk shall be borne by the Customer. Your capital may therefore be at risk. The Minted App do not provide general or investment advice.

The se Conditions may change from time to time. We recommend that you revisit this page periodically and store the latest copy of these Conditions for your records. We strongly recommend that you read these Conditions in their entirety.

   1.Interpretation

1.1. The following definitions and rules of interpretation apply in these Terms and Conditions of Business:

“Business Hours” means 9:00 to 17.00 (London Time) during a Working Day;

“Cleared Funds” means cash in your Minted Customer Account which is due from a) a sale of Gold that has settled; or b) the crediting of funds to your Minted Customer Account by debit card, direct debit or bank transfers; and which has cleared the banking process.

“Commencement Date” has the meaning given in Condition 2.2;

“Conditions” means the Terms and Conditions of Business herein contained as amended from time to time in accordance with Condition 31, as well as any account-opening documentation and any other documents, terms and conditions, or policies expressly referenced;

“Constructive possession” is a legal principle that means a person who has possession of property is assumed to be the owner of it. In order to exercise constructive possession of an object (such as Gold), the person must have had knowledge of the object, as well as the ability to control it. By purchasing Gold on the Customer Platform, you acquire legal possession of your Gold Holdings held with a Storage Provider in accordance with these Conditions.

“Contract” means, as the case requires, any and each contract that exists between The Minted App and the Customer in relation to the provision of any of the Services and for the avoidance of doubt each transaction entered into and concluded with a Customer shall be regarded as giving rise to a separate Contract governed by the Terms and Conditions then in force in accordance with Condition 3;

“Customer” or “you” means any person, entity, fund or corporation who becomes a customer of The Minted App in accordance with Condition 3;

“Customer Platform” means the Website, the Application, Application Programming Interface (“API”) and any associated The Minted App systems or mobile applications (together, the “Customer Platform”) which allows the Customer to log into their Minted Customer Account to create and manage their Gold Holdings and Gold Savings Plan as well as make one off Orders for the purchases and sale of Gold and requests for delivery;

“Customer’s Verified Address” means the address nominated by the Customer for delivery of Gold Holdings which is validated by The Minted App upon receipt of the sufficient proof of address provided by the Customer;

“Date of Trade” means the date on which The Minted App fulfils an Order in accordance with Condition 2.2;

“E-money” means electronic money as defined under section 2(1) of the Electronic Money Regulations 2011 (as amended from time to time) and held and secured in a client segregated account with an authorised credit institution which is authorised and regulated by the Financial Conduct Authority or other competent regulatory authority;

“E-wallet” means an electronically held software or web service facility which displays the Customers current monetary value (E-money) as represented by The Minted App and which shall be the default facility for Customer money;

“Gold” means physical Gold that meets the Chain of Integrity Standard as set by the LBMA. The Minted App records the Gold held by or for you or on your behalf in grams, kilograms or troy ounces and Physical Bullion as described above in the definition of the term “Minted Customer Account”;

“Gold Holdings” means Gold and Physical Bullion held by The Minted App (or a nominated Storage Provider) on behalf of the Customer;

“Gold Rate Table” means the table available on the fees page of the Customer Platform, which may be amended from time to time, that details the fees charged in GBP by The Minted App to the Customer over and above the Gold Spot Price for Orders and One-off Purchases of Gold. The Gold Rate Table also details the fees that The Minted App charges the Customer below the Gold Spot Price when the Customer makes an instruction for the sale of Gold;

“Gold Savings Plan” is a product offered by The Minted App which allows Customers to buy Gold incrementally on a monthly basis at the Customer’s chosen Monthly Payment amount;

“Gold Spot Price” means the live UK Gold market price for Gold on any given day per one troy ounce, or other denomination as stated;

“Intellectual Property Rights” means patents, utility models, rights to inventions, copyright and neighbouring and related rights, moral rights, trade marks and service marks, business names and domain names, rights in get-up, goodwill and the right to sue for passing off or unfair competition, rights in designs, rights in computer software, database rights, rights to use, and protect the confidentiality of, confidential information (including know-how and trade secrets), and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world;

“Minted Customer Account” means the account that the Customer creates with The Minted App via the Customer Platform, for the sale, purchase, storage and withdrawal of Gold and which maintains an electronic record of:

(a) the amount of Gold Holdings (excluding Physical Bullion) expressed in grams, troy ounces of Gold held by or for the Customer or on the Customers behalf at the Storage Provider;

(b) the amount of Physical Bullion held by or for the Customer or on the Customers behalf at the Storage Provider, for which quantity is expressed in whole bars together and identifiable by corresponding serial numbers;

(c) any money held by us on your behalf whether in your E-wallet or otherwise;

(d) your Order(s);

(e) your sale of Gold Holdings; and

(e) our fees for the Services provided to you;

“Monthly Payments” are the fixed monthly payments made by the Customer in accordance with their Gold Savings Plan. The Monthly Payments amount is nominated by the Customer at the time that the Customer registers for the Gold Savings Plan. Monthly Payments shall be not less than £30 (thirty pounds) per month and not more than £1,000 (one thousand pounds) per month without the prior written agreement of The Minted App. Payment of the Monthly Payments shall be made pursuant to Condition 13;

“One-off Purchase” means individual Orders (other than a Gold Savings Plan) for the purchase of Gold via The Minted App through the Customer Platform in accordance with these Conditions;

“Order” means the Customer’s order for the supply of the Services, specifically by the Customer nominating a Monthly Payment amount by way of a Gold Savings Plan or submitting a One-off Purchase. Each Order shall be deemed to be a separate offer by the Customer to purchase Gold on the Conditions contained herein, which The Minted App shall be free to accept or decline at its absolute discretion;

“Physical Bullion” means whole Gold bullion bars, but does not include a fraction of a bar of Gold, which is recorded in the Minted Customer Account as the Customers exclusive property and in which no other person has any share;

“Retail Daily Rate” means the Gold Spot Price plus the fees charged on top of the Gold Spot Price by The Minted App in GDP (£) in accordance with the Gold Rate Table available on the Customer Platform fees page and based on the value of the Order;

“Security Information” means a user identification name, code, personal identification number, password or such other security information as The Minted App may determine for use in connection with the Services;

“Storage Provider” means a storage provider appointed by The Minted App in accordance with Condition 18, to store Gold on behalf of Customers;

“Website” means the website currently maintained by The Minted App at www.The Minted App.com or such other website and/or mobile application as The Minted App may from time to time maintain;

“Working Day(s)” means a day (other than a Saturday, Sunday or public holiday) on which clearing banks are generally open for business in England.

   2.Basis of Contract

2.1. The Order constitutes an offer by the Customer to purchase the Services in accordance with these Conditions.

2.2. The Order shall only be deemed to be accepted when The Minted App issues written acceptance of the Order or when The Minted App, at the Customer’s instruction, enters into a sale or purchase transaction with the Customer or on the Customer’s behalf at which point and on which date the Contract shall come into existence (“Commencement Date”).

2.3. Any samples, drawings, descriptive matter or advertising issued by The Minted App and any illustrations or descriptions of the Services contained in the Customer Platform or other printed material are issued or published for the sole purpose of giving an approximate idea of the Services described in them. They shall not form part of the Contract nor have any contractual force.

2.4. The Conditions shall:

  i). apply to and be incorporated into the Contract to the exclusion of any other terms that the Customer seeks to impose or incorporate, or which are implied by law, trade custom, practice or course of dealing; and

 ii). Prevail over any inconsistent terms and conditions contained or referred to in your purchase order, confirmation of Order, acceptance of quotation, or specification or other document supplied by you or implied by trade, custom, practice or course of dealings.

   3.Deemed Acceptance and Prevailing versions of the Conditions

3.1. You shall be deemed as a Customer of The Minted App by doing any or all of the following:

   i). Registering for a Minted Customer Account;

  ii). Registering for a Gold Savings Plan, placing a One-off Order or transferring the funds required to make a purchase of Gold; and/or

 iii). Upon entering into any other Contract for the supply of Services with The Minted App.

3.2. We may from time to time modify the Conditions. Conditions as modified shall apply to Customers of The Minted App on the date on which such persons become a Customer of The Minted App. The modified Conditions shall apply to existing Customers, on or after the date (the “Relevant Date”) falling on the earlier of:

(i). the date on which the modified Conditions are sent to the Customer in accordance with Condition 9 below; or

(ii). the date falling 30 days after the date stated as the Effective Date in the modified Conditions;

in respect of any Contract entered into between the Customer and The Minted App on or after the Relevant Date.

   4.The purpose of our business relationship

4.1 You have chosen to become a Customer in order to benefit from The Minted App’s terms of trading in and storing Gold. This Service is provided as execution only. We do not give guidance on price performance. Any opinion or information given by The Minted App concerning any market dynamic including, but not limited to price, possible performance or trading conditions whether posted on the Customer Platform or otherwise disclosed to a Customer shall not be construed as advice in any respect and the Customer’s attention is specifically drawn to Condition 5.

   5. Purchasing Disclaimer

5.1 Gold markets are volatile and the value of Gold may go down as well as up. Accordingly, purchases in Gold involve a degree of risk which may make them unsuitable for certain individuals. You should carefully consider the suitability of a purchase in Gold as a personal purchase and if needs be should consider seeking independent professional advice before proceeding.

5.2 Once an Order has been submitted it cannot be altered, cancelled or rescinded other than in accordance with these Conditions.

5.3 When placing an Order, you rely solely on your own judgement. We do not offer advice on any matter including (without limit) the merits or otherwise of any Orders, sales, taxation, or markets.

5.4 We may at our sole discretion refuse any Order without reason and without liability for any loss or damage incurred by you or any other party.

5.5 We will not be liable to you for any funds representing the benefit of any fluctuation in Gold arising after an Order has been placed.

IMPORTANT NOTE: THE GOLD BULLION MARKETS, WORLDWIDE, ARE UNREGULATED. THERE IS NO GUARANTEE, EXPLICIT OR IMPLIED, OF THE FUTURE VALUE OF ANY OF THE GOLD PRODUCTS THAT WE SELL.

   6. Identification

6.1 The Minted App are required to verify the identity of Customers. All Customers are required to comply with the Criminal Justice Act 1994 (CJA). Pursuant to the CJA, we are obliged to carry out sufficient checks to verify the identity of our customers. In this regard, before accepting Orders, we may require certain identification.

6.2 The Minted App reserves the right to request additional identity verification information if it believes it necessary or appropriate to do so in order to comply with its obligations under the CJA.

6.3 You undertake to identify yourself according to the identity verification procedures required by The Minted App. You authorize The Minted App to make such enquiries as it may feel necessary to satisfy itself about the validity of your identity.

6.4 You accept that your failure to identify yourself promptly and correctly may negate some of the protections you seek from The Minted App. You hereby indemnify and keep indemnified The Minted App against losses which arise out of your failure to identify yourself promptly and correctly.

6.5 We may request from you, from time to time, information regarding you and your financial affairs as they relate to The Minted App, which may be required for compliance with money laundering regulations, legislation or other matters.

   7. Data Protection

7.1 To provide the service The Minted App needs to record and process information about you and you permit The Minted App to do so. The Minted App does not disclose data about you to third parties except where required either:

     i). in the ordinary administrative course of verifying identity and sources of bank funding and completing your The Minted App transaction(s); and/or

    ii). where you specifically request us to use your data for the purposes of supplying other services;

   iii). where required by law.

7.2 Both parties will comply with all applicable requirements of the Applicable Data Protection Laws. This Condition 7 is in addition to, and does not relieve, remove or replace, a party’s obligations or rights under the Applicable Data Protection Laws. In this Condition 7, Applicable Data Protection Laws means (for so long as and to the extent that they apply to The Minted App) the law of the European Union, the law of any member state of the European Union and/or Domestic UK Law; and Domestic UK Law means the UK Data Protection Legislation and any other law that applies in the UK.

7.3 The parties acknowledge that for the purposes of the Applicable Data Protection Laws, The Minted App is the Processor. Without prejudice to the generality of this Condition, The Minted App will ensure that it has all necessary appropriate consents and notices in place to enable lawful transfer of the personal data to The Minted App for the duration and purposes of the Contract.

7.4 The Customer consents to The Minted App appointing the persons listed from time to time in The Minted App’s Privacy Policy as Processors of personal data under the Contract. The Minted App confirms that it has entered or (as the case may be) will enter with the third-party processor into a written agreement substantially on that third party’s standard terms of business as between the Customer and The Minted App, The Minted App shall remain fully liable for all acts or omissions of any third-party processor appointed by it pursuant to this Condition 7.4.

   8. Contact details

8.1 The Minted App may maintain the following contact details for you:

(i) an email address;

(ii) a contact number;

(iii) a home address;

(iv) a date of birth; and

(v) bank account details

8.2 You agree to keep your contact details held by The Minted App up to date and accurate, which you can do via the website or by contacting our office. The Minted App is entitled to rely on the accuracy of the contact details supplied.

8.3 You agree to notify The Minted App within 30 days of any changes to your contact details.

8.4 You agree that The Minted App shall not be responsible for any loss, expense, delay or other breach under these terms incurred as a result of your failure to accurately maintain your contact details. You hereby fully indemnify and keep indemnified The Minted App against all such liabilities and associated losses, expenses or delays which arise out of your failure to maintain your contact details correctly.

   9.Communication between us

9.1 Your primary means of communication with The Minted App will be via email. You may also submit questions and access responses and general information and carry out certain transactions using the client query tool located on the Website.

9.2 Email:

9.2.1 The Minted App will, from time to time, send information to you by email including, but not limited to, acknowledgements of changes to your key account settings, Order confirmations, execution advices, contracts and changes to these Conditions. The Minted App system records all outward email transmissions.

9.2.2 It is your responsibility to ensure that any nuisance email filters in use by you or your email service providers are not configured to block email from The Minted App.

9.2.3 You understand and accept that The Minted App shall be deemed to have duly sent or transmitted an email to you when it places onto the public part of the Internet an email correctly addressed to your email contact address as notified from time to time to The Minted App.

9.2.4 You understand and accept that email is not encrypted and that it operates with a similar degree of privacy as physical post, in that a network engineer, has the ability to see email and attachments if he chooses to open your mail. You accept and understand that easily comprehended open format feedback to a known and used email address is appropriate for reporting your completed business to you, off-line, and after the event.

9.3 Telephone:

The Minted App may contact you by telephone on the telephone number(s) advised to us for the purposes of confirming any Order(s) including to confirm the applicable Retail Daily Rate prior to concluding a sale or purchase of Gold with you or on your behalf. You agree that all calls made between you and The Minted App may be recorded by The Minted App in order to assist with our monitoring and compliance procedures, and to avoid misunderstandings. Such records will be our property and will be accepted by you as evidence of your Orders or instructions. We may use the recordings and /or transcripts for any lawful purpose which we deem desirable and the recording of any such telephone calls shall be admissible as proof of the matters discussed therein.

9.4 Customer Platform Usage:

9.4.1 Access to and use of the Customer Platform for information purposes and to avail of any Services shall be subject to all usage terms and conditions, policies and procedures specified from time to time on the Customer Platform. When you register on the Customer Platform, you will be asked to provide a username and password which may be changed by you from time to time. You shall be solely responsible for protecting the confidentiality of your username and password. You must not disclose it to any third party. You shall notify The Minted App immediately should you suspect or become aware that your username or password has become known or available to any other person.

9.4.2 We shall have the right to disable any username or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Conditions.

9.4.3 We shall have no liability or responsibility to you for acting on instructions purporting to be given by you via the Customer Platform (whether or not you in fact gave such instructions) where:

            a) your username and password have been correctly input into the Customer Platform in connection with such instructions; and

           b) you have not notified us in accordance with Condition 9.4.1.

9.4.4 In accessing the Customer Platform and availing of any of the Services or information available on or via the Customer Platform, you accept and are deemed to accept that electronic mail messaging and internet communication may not be free from interference by third parties and may not remain confidential. The use of the Customer Platform is at your sole risk. If you suspect that any information communicated in connection with the Customer Platform may be incorrect, please contact The Minted App on support@theminted.com.

   10. Acceptable ways of making pre-payments

10.1. The Minted App shall not be obliged to fulfil any Orders, pre-payments or monies on accounts unless sufficient funds to cover the full value of the Order are received in cleared funds in The Minted App’s nominated bank account. Payment of the Order price may be made in accordance with Condition 13 (Payments). If any payments are made by regular card payment or Truelayer, the Customer acknowledges that their bank may be expected to identify standard banking data on each incoming payment to The Minted App’s nominated bank account, including:

            i) your bank name;

           ii) your branch identifying code;

          iii) your account name;

          iv) your bank account number; and

           v) your The Minted App user name or quotation reference number (as the payment reference).

10.2. The Minted App retains the right at its absolute discretion to accept an Order without receipt of Cleared Funds. In such circumstances, The Minted App will retain ownership of the Gold until such time as The Minted App has received the full Order price in Cleared Funds. In the event that funds do not clear, The Minted App shall retain the right to seek full payment from the Customer for the Order or cancel the Order in accordance with Condition 15. In the event that the Order is cancelled by The Minted App, the Customer shall be fully liable to pay any and all losses and or administration expenses relating to the Order.

10.3. The Customer agrees that any failure, or delay by the Customer’s bank to identify the source of your money may delay your account being credited or the funds in the account being allocated and credited to your account with The Minted App. In such circumstances, The Minted App may suspend aspects of your account until such time as the correct remittance details are established to The Minted App’s satisfaction.

10.4. You accept that where you have provided us with necessary details independently of the actual bank transfer on which your money was received, The Minted App is entitled to suspend your right to immediate withdrawal for a period not exceeding six weeks.

   11.Placing an Order

11.1 When we accept your Order, we will use reasonable endeavours to complete it. However, we will not be liable to you for any loss or expense you suffer if we are unable to carry out an Order for any reason (other than as a result of our negligence, fraud or wilful default) or due to a breakdown or failure of transmission or communication systems or where there is a delay or change in Gold market conditions prior to the transaction being completed.

11.2 You cannot place an Order until a Minted Customer Account has been opened and Cleared Funds received. By placing an Order, you agree that you will have sufficient Cleared Funds as required to make the payment including fees to settle the trade.

11.3 You agree that the price for any Order will be at the Retail Daily Rate as available on the Customer Platform and in the Gold Rates Table.

11.4 You authorise The Minted App to act upon instructions given securely via your Minted Customer Account. You agree that we are entitled to accept all instructions received by The Minted App without any further enquiry or verification provided that they are, or appear to be, given using your Security Information.

   12. Fees and charges

12.1 The Minted App will charge fees in respect of the Services provided to you under these Conditions as specified on the Customer Platform fees page as amended from time to time (the “Fees Page”). 

12.2 Unless otherwise agreed by us in writing, all amounts (including, without limitation, all fees and charges) payable by you shall be due on demand without set-off, counterclaim deduction. or withholding.

12.3 All payments due from you to us under these Conditions shall be made by you in Cleared Funds unless otherwise agreed by us in writing.

12.4 We reserve the right to collect fees due under these Conditions in Gold or the national currency of any territory which is accepted by us in exchange for Gold. You hereby authorise us to deduct from your Gold Holdings or outstanding E-Money in your E-wallet any amounts in respect of fees or charges that you may incur by using the Services and all other fees, charges, costs and expenses that we may incur in connection with the Services we provide to you or pursuant to our relationship with you.

12.5 You agree that we may, at our sole discretion and without notice to you, appropriate the whole or any part of the Gold Holdings or funds in your E-wallet or, in the case of Gold, sell or convert the same into money and use the Gold so appropriated or the proceeds of that sale or conversion to set-off any of your liabilities or obligations to us whether in respect of fees and charges or any other monies owed to us.

12.6 For the Gold Savings Plan a minimum Monthly Payment of GBP £30.00 per month is required as specified in the Gold Rate Table. The Customer may increase or decrease the Monthly Payments at any time provided that the Monthly Payment is above the minimum of GBP £30.00 per month. To change the Monthly Payments amount, the Customer may log in to the Customer Platform and change the Monthly Payments figure accordingly. The Customer is solely liable for ensuring that the Monthly Payments are correct before making or accepting any changes. The Customer shall not be entitled to a refund in the event that a Monthly Payment is incorrect.

12.7 The purchase price charged to the Customer for One-off Purchase shall be at the Retail Daily Rate. For all One-off Purchases, the minimum quantity shall be 10 grams per One-off Purchase (as amended from time to time).

12.8 All fees charged by The Minted App on Orders by a Customer will be charged at the Retail Daily Rate which is subject to change.

12.9 Local currencies will be converted to GBP at the prevailing retail rate prior to the day of trading.

12.10 The Minted App may offer free storage and insurance to Customers with an active Gold Savings Plan or for One-off Purchases as detailed on the Fees Page. Customers whose Gold Holdings exceed the free storage limit will be charged a monthly storage fee as set out on the Fees Page (the “Monthly Storage Fee”).

12.11 Where the Customer has an active Gold Savings Plan, the Monthly Storage Fee shall be calculated using the Gold Spot Price as at the same day of the month of the initial Order. Where the Customer makes One-off Purchases the Monthly Storage Fee shall be calculated using the Gold Spot Price as at the first day of each month.

12.12 If a Customer’s Gold Holdings exceed the free storage limit as detailed on the Fees Page then they will be charged the Monthly Storage Fee. In this condition, “active” means a Gold Savings Account with

   (a) a valid direct debit or regular card payment authorisation set up for the collection of the Monthly Payments and

   (b) with a payment scheduled.

12.13 All proceeds from Orders for the sale of Gold will be sent to the Customer’s E-wallet within one Working Day of completion. Where requested, a transfer of funds from your E-wallet to your nominated bank account will be completed within a maximum of 5 Working Days (usually within 1 or 2 Working Days). The Customer acknowledges that there may be delays caused by their bank processing the transaction which are outside of The Minted App’s control.

   13. Payment:

13.1 The Customer shall pay by the following methods:

            i) for Monthly Payments and Monthly Storage Fees, the Customer shall grant The Minted App a regular card payment authorisation for the collection of the Monthly Payments.

           ii) for One-off Payments, the Customer may pay by logging into their online banking via Truelayer as well as by card payment subject to transaction limitations, The Minted App’s third-party payments provider and make payment thereon.

13.2 Payment in cash is not permitted under any circumstances for any Orders.

13.3 If the Customer has an active Gold Savings Plan, The Minted App shall be entitled to immediately charge the Monthly Payment amount to the relevant bank account of the Customer. Should The Minted App withdraw the Monthly Payment amount but the transaction fails to be concluded for any reason, The Minted App agrees by way of a no-fault promise, to reimburse the amount collected to the Customer’s relevant account without delay.

13.4 If the payment fails to be transacted successfully for any reason (e.g. due to insufficient funds), the Customer shall be liable for all additional costs according to the current Gold Spot Price, Gold Rate Table and any additional administrative costs incurred.

13.5 With recovery of the Monthly Payments or payment of One-off Purchases, the Customer commissions The Minted App to undertake the purchase of Gold on their behalf subject to these Conditions. Subject to conditions 12.6 (Monthly Payment minimum) and 12.8 (One-off Purchase minimum), the smallest Gold Holding unit which shall be acquired on behalf of the Customer is 0.01 gram.

13.6 For Gold Savings Plans The Minted App will withdraw funds from the Customers nominated bank account on the day of each month specified by the Customer on the Customer Platform (the “Specified Date”). The Customer is required to have full payment of the Order successfully processed before The Minted App will acquire Gold on the Customer’s behalf. All such acquisitions of Gold by The Minted App will be charged to the Customer at the Retail Daily Rate on the Specified Date where it falls on a Working Day, otherwise by the following Working Day . Where the Specified Date falls on a Friday, the Minted App reserves the right to make such acquisitions at the Retail Daily Rate of the following Working Day.

13.7 The Minted App will deduct the Monthly Payment sum on the Specified Date from the Customers bank account by way of regular card payment or any other permitted method. All Orders will be processed and notified to the Customer no later than 48 hours after the Specified Date. The Customer will be notified of the number of grams purchased via email. Grams of Gold will be rounded down to two decimal places. The total Gold quantity in the Gold Holdings and details of all Orders can be viewed on the Customer Platform by logging in using the Minted Customer Account.

   14. Ownership

14.1 The Minted App may transact in Gold acting as principal or as agent following receipt of your Order. The transfer of ownership of the purchased Gold to the Customer is made when the Gold is posted on the Gold Holdings shown on the Customer Platform. Until such time as the Gold is posted to the Gold Holdings or full payment of the Order is received (whichever is the later), The Minted App reserves ownership of the Gold.

14.2 Subject to Condition 14.1 and 18.4, upon depositing the Gold Holdings with a Storage Provider, delivery shall occur by way of Constructive Possession which means that you will have ownership of your Gold Holdings held with the Storage Provider.

14.3 Subject to Condition 18.4, Gold stored by The Minted App are held on bailment for the Customer in accordance with your Gold Holdings as detailed in your Minted Customer Account, which means that the Gold shall remain the absolute property of the Customer whilst in storage.

14.5 The Minted App undertakes to pay all storage fees promptly when due subject to Conditions 12.11, 12.12 and 12.13 above. In this regard, save as specified above, the insolvency of The Minted App or any storage provider would not affect your property rights in respect of your Gold Holdings, albeit that such circumstances may result in delay and inconvenience in regaining possession of the Gold.

14.6 With the exception of Physical Bullion, title over Gold Holdings shall vest in all owners in common of the Gold in accordance with their respective Gold Holdings as recorded in each Customers Minted Customer Account.

14.7 Where, and to the extent that, The Minted App has a residual interest in the Gold so held, including any rights against third parties, this will be held on behalf of the owners in common.

14.8 For the purposes of arranging storage of Gold Holdings for and on behalf of all owners in common, The Minted App acts as your agent with respect to your share.

14.9 Subject to these Conditions, The Minted App’s proprietary interest in Gold with a Storage Provider is only to the extent that it is entitled to deduct from the proceeds of sale payment for fees owing to us and/or the Storage Provider.

14.10 You agree to keep your Gold Holdings (and any interest in it) acquired and held under and in accordance with these Conditions free from any liens, encumbrances, charges, or claims.

14.11 You agree that The Minted App shall have full authority as your agent and in your name to buy, sell, exchange, redeem, hold, convert or otherwise deal with your Gold Holdings.

   15. Cancellation

15.1 The Customer may cancel their Gold Savings Plan at any time by giving The Minted App not less than 14 days prior written notice. On cancellation, the Customer shall immediately pay to The Minted App all unpaid payments due under the Gold Savings Plan or otherwise due. The Minted App reserves the right to deduct any unpaid payments from the Customer’s nominated bank account, or if the Customer has issued a direct debit authorisation, by withdrawal by direct debit or any other permitted method. The cancellation of the Gold Savings Plan does not affect the Minted Customer Account which will remain active until such time as the Customer deactivates the Minted Customer Account through the Customer Platform.

15.2 The Customer acknowledges that the price for the supply of Gold is dependent on the Gold Spot Price, which The Minted App cannot control. The Customer agrees that it shall not be entitled to cancel any Orders placed or Orders fulfilled by The Minted App. The Minted App will use reasonable endeavours to assist Customers to cancel any Orders which The Minted App has not yet fulfilled however cancellation is not guaranteed.

15.3 Where cancellation is approved for whatever reason, the Customer will be liable for any adverse movement in the primary Gold price based on the difference in the Gold Spot Price from when the Order was placed and when the cancellation is accepted by The Minted App, multiplied by the Gold content of the Order(s) or Gold Holdings as the case may be.

15.4 Where necessary in cases of cancelation, the Customer may be required to make payment for additional services such as delivery of Gold.

15.5 In respect of cancellation of an Order, whether of a Gold Savings Plan or One-off Purchase, all sums payable to The Minted App in respect of the period up to and including the date of cancelation will fall immediately due and payable.

15.6 Without affecting any other right or remedy available to it, The Minted App may suspend, terminate or refuse the supply of Services or the performance of any Contract between the Customer and The Minted App, without incurring any liability for losses that may have been sustained as a result and without giving notice, if:

   i) the Customer fails to pay an amount due under these Conditions on the due date for payment and remains in default not less than 15 days after being notified in writing to make such payment;

   ii) The Minted App considers it necessary including but not limited to:

        a) protection from fraud or money laundering, or any legal and/or regulatory obligations;

        b) protection from Customer default;

       c) protection from market failure;

       d) protection from adverse and/or volatile market conditions; and

       e) protection from loss by The Minted App

   iii) The Minted App suspects the Customer of being on an Anti-Money Laundering sanctions list including but not limited to suspicion that the Customer may be a politically exposed person;

   iv) the Customer commits a material breach of any other term of this agreement which breach is irremediable or (if such breach is remediable) fails to remedy that breach within a period of 30 days after being notified in writing to do so;

   v) the Customer repeatedly breaches any of the terms of this agreement in such a manner as to reasonably justify the opinion that its conduct is inconsistent with it having the intention or ability to give effect to the terms of this agreement; or

   vi) the Customer suspends, or threatens to suspend, payment of its debts or is unable to pay its debts as they fall due or admits inability to pay its debts or is deemed either unable to pay its debts or as having no reasonable prospect of so doing, in either case, within the meaning of section 268 of the IA 1986;

   vii) the Customer commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with any of its creditors; or

   viii) the Customer dies or, by reason of illness or incapacity (whether mental or physical and in The Minted App’s reasonable opinion), is incapable of managing their own affairs or becomes a patient under any mental health legislation.

15.7 For the purposes of condition 15.6 (ii), material breach means a breach (including an anticipatory breach) that is serious in the widest sense of having a serious effect on the benefit which the terminating party would otherwise derive from:

      i) a substantial portion of this agreement; or

      ii) any obligations set out in conditions 6 (Identification), 8 (Contact Details), 10 (Pre-payments), 13 (Payments) and 17 (Delivery).

15.8 Over any 3-month period during the Contract, in deciding whether any breach is material no regard shall be had to whether it occurs by some accident, mishap, mistake or misunderstanding. When terminating for material breach, The Minted App may rely on a single material breach or several breaches or repeated breaches that, taken together, constitute a material breach.

15.8 In respect of termination, The Minted App obligations under or in connection with the Contract shall cease to apply, and The Minted App will no longer meet those obligations. This includes any obligation to complete Orders and/or to provide Services which are terminated.

   16. Conversion Options

16.1 The Customer may request delivery of the Gold held in the Gold Holdings once the Customer has accumulated Physical Bullion at the minimum amount of 10 grams of Gold Holdings.

16.2 In the event that the Customer’s Gold Holdings balance does not meet the requirements of 16.1 above, Gold delivery will not be available. The Customer may only opt to receive the equivalent value of such Gold Holdings, held as E-Money, as a cash settlement paid into the Customers E-wallet. The value of the cash settlement will be based upon the Gold Spot Price minus the percentage specified in the Gold Rate Table for a sale of Gold on the day of the transaction before 5pm GMT. 

16.3 Settlement proceeds will be remitted to your E-wallet but may be subsequently transferred to your nominated bank account upon request.

16.4 The Customer may sell their Gold held in their Gold Holdings to The Minted App for a cash settlement in accordance with Condition 20.

   17. Delivery

17.1 Subject to Condition 16.1, the Customer may make a written request via the Customer Platform to The Minted App for delivery of the Gold held in the Gold Holdings to the Customer’s Verified Address. The Minted App shall arrange for the delivery at the expense and sole risk of the Customer. The Customer will be provided with details of the transport and security costs of delivery and no delivery will be made until full payment of all associated costs have been fully received by The Minted App.

17.2 Any dates quoted for delivery are approximate only and are provided by the delivery carrier. The time of delivery is not of the essence. The Minted App shall not be liable for any delay in delivery that is caused by a Force Majeure Event or the Customer’s failure to provide adequate delivery instructions or any other instructions that are relevant to the delivery or requested by the delivery carrier.

17.3 Delivery is completed on the loading of the Gold to the delivery carrier and all risk in the Gold shall pass to the Customer on such completion of the delivery. The Minted App shall not be liable for any costs, liability, issues or delays with delivery carrier which are incurred after delivery is completed.

17.4 All Physical Bullion will be delivered to the Customer’s Authorized Address.

17.5 It shall be the Customer’s sole responsibility to ensure that the Customer or a trustworthy person authorised by the Customer to receive the Gold (an “Authorised Person”) is available at the Customer’s Verified Address to take delivery and The Minted App and its carriers, shippers and agents shall be entitled to assume that any person taking delivery of the goods at the Customer’s Verified Address is an Authorised Person. The Minted App shall not be liable for security at the Customer’s Verified Address.

17.6 The Customer or Authorised Person must sign for receipt of the Gold and such act, without reservation, shall amount to prima facie evidence that the Gold has been received in good condition. If at the time of delivery the Customer or Authorised Person contends that the packaging has been opened or damaged or that seals have been broken or removed or that unpacked items are damaged, then the Customer or Authorised Person must record any such irregularities on the receipt from the carrier and notify The Minted App immediately. If the Customer or Authorised Person refuses or is unavailable to take delivery or if delivery cannot be completed for any reason not due to the negligence of The Minted App or its carriers, then The Minted App may arrange for the Gold to be placed in storage with a Storage Provider at The Minted App’s discretion’. All costs of storage will be borne by the Customer and The Minted App shall assume no liability whatsoever (whether for negligence, loss, non-delivery, miss-delivery, theft or otherwise) to the Customer in such circumstances except if there has been wilful misconduct by The Minted App in the storage arrangements.

   18. Storage Services

18.1 The Minted App will store Gold Holdings on the Customer’s behalf subject to these Conditions and any further Conditions notified to the Customer from time to time.

18.2 The Customer authorises The Minted App to arrange for the storage, transportation, and insurance of Gold Holdings. This authority permits The Minted App to enter into contracts on the Customer’s behalf as agent in respect of the storage, transportation, or insurance of Gold Holdings but shall not be construed as an obligation to enter into any such contracts.

18.3 Storage fees shall be charged in accordance with Condition 12.7.

18.4 The Minted App shall have a general lien on all Gold in its possession or control in respect of unpaid Monthly Storage Fees whether or not relating to goods over which the lien is exercised. The Minted App shall have the right and shall be authorised to sell the Gold or any part thereof if after a period of fourteen (14) Working Days written notice of the exercise of its lien, if payment in full has not by then been made. Such sale will be as agent of the Customer. The Minted App will apply the sale proceeds first to the sums due to it under this Condition and the costs of sale and will account to the Customer for the balance within fourteen (14) Working Days of receiving the sale proceeds.

   19. Limitation of Liability

THE CUSTOMER’S ATTENTION IS PARTICULARLY DRAWN TO THIS CONDITION.

19.1 This Condition 19 sets out the entire financial liability of The Minted App (including any liability for the acts or omissions of its employees, agents, consultants and sub-contractors) to the Customer in respect of:

            i) any breach of a Contract;

            ii) any failure to supply any Service or fulfil any Order hereunder;

            iii) any representation, statement or tortuous act, or omission (including negligence) arising under or in connection with a Contract.

19.2 Nothing in these Conditions limits or excludes the liability of The Minted App:

            i) for death or personal injury resulting from negligence; or

            ii) for any damage or liability incurred by the Customer as a result of fraud or fraudulent misrepresentation by The Minted App;

            iii) for any liability incurred by the Customer as a result of any breach by The Minted App of the condition as to title implied by Section 12 of the Sale of Goods Act 1893.

19.3 The Minted App shall exercise due skill, diligence and care in the selection and appointing any Storage Provider and shall ensure that the Storage Provider is a reputable storage provided with appropriate expertise in the business of managing the receipt, storage and re-delivery of Gold according to best industry practice. The Minted App shall not otherwise be liable for the acts of the Storage Provider unless the selection of such Storage Provider was made negligently or in bad faith. The Storage Provider’s liability to The Minted App in respect of storage services may be limited under its terms and conditions and a copy of such terms and conditions will be given to a Customer on request.

19.4 The Minted App undertakes to ensure that your Gold Holdings are insured against theft or damage according to accepted industry standards. The Customer acknowledges that such insurance will be subject to exclusions in line with insurance industry practice. Save as aforesaid, all metals are stored or otherwise dealt with at the sole risk and peril of the Customer.

19.5 All warranties, conditions and other terms implied by statute or common law and all non–contractual obligations, are to the fullest extent permitted by law excluded from these Conditions and any Contract between the Customer and The Minted App.

19.6 Save as aforesaid, The Minted App shall under no circumstances be liable for loss of profits, loss of business, depletion of goodwill or other similar losses, or any other special, indirect consequential or pure economic loss, cost damages, charges or expenses or fall in the value of any precious metal or currency which arise out of, or in connection with, any Contract or these Conditions.

19.7 Without prejudice to any other provisions of this Agreement, The Minted App’s total liability in contract, tort (including negligence or breach of statutory issue), misrepresentation, restitution or otherwise arising or in connection with the performance of any contract or contemplated performances of any contract and/or these Conditions shall be limited to the value of the Customer’s Gold Holdings from time to time together with the value of any cash balance held to the credit of the E-wallet on behalf of such Customer.

19.8 Any tax or duty liabilities or obligations attaching to any Physical Bullion held in your name will be yours, as Customer and owner of the Physical Bullion. The Minted App shall bear no responsibility or liability for any tax or duty payable in respect of Physical Bullion.

19.9 You agree to indemnify The Minted App on demand against all or any direct or indirect taxes, duties, levies or the like payable by you in any jurisdiction in relation to any contract. This means that you must repay us if we are asked to make any such payment for you.

19.10 This Condition 19 shall survive cancellation or termination of the Contract.

   20. Selling your Gold

20.1 You may sell your Gold Holdings through the Customer Platform in accordance with these Conditions.

20.2 A Customer may only request a sale of Gold for Gold Holdings which are held with a Storage Provider. Sale of Gold via the Minted App will not be available for Gold which is no longer held by us, for example where you have opted for delivery of your Gold Holdings.

20.3 Acceptance of a Customer’s request for the sale of Gold Holdings to or via The Minted App will be entirely at The Minted App’s discretion and we shall have no obligation to accept any requests for the sale of Gold Holdings.

20.4 Where you initiate a sale of Gold on the Customer Platform, you are instructing The Minted App to purchase your Gold Holdings or to sell your Gold Holdings on your behalf.

20.5 Where you request a sale of Gold, The Minted App may sell your Gold Holdings using a spot contract entered into on your behalf at the agreed rates as detailed in the Gold Rate Table. Settlement for a sale of Gold is up to five Working Days from the day you requested the sale, during which period, the Gold Spot Price you agreed to in the Customer Platform when initiating the sale is secured.

20.6 Upon settlement you will cease to have Constructive Possession over the amount of Gold Holdings you requested to be sold and the proceeds of your sale will be available as E-money in your E-wallet.

20.7 You agree that the prices for any sale of Gold Holdings for any transaction within your Minted Customer Account will be based on the prices in the Gold Rate Table available on the Customer Platform. This may be subject to change and The Minted App shall use reasonable endeavours to notify Customers in advance of any sale. 

20.8 You authorise The Minted App to act upon instructions given securely via your Minted Customer Account. You agree that we are authorised to accept all instructions received by The Minted App without any further investigation or authentication provided that they are, or appear to be, given using your Security Information.

   21. Intellectual Property Rights

21.1 All Intellectual Property Rights in or arising out of or in connection with the Services shall be owned by The Minted App.

   22. Force Majeure

22.1 The Minted App shall have no liability to a Customer under these Conditions or under any Contract if it is prevented from, or delayed in performing, its obligations under the said Contract or these Conditions, or from carrying on its business, by acts, events, omissions or accidents beyond its reasonable control, including (but without limitation) strikes, lock-outs or other industrial dispute (whether involving the workforce of The Minted App or any other party) or failure of a utility service or transport network, system failures, intermediary system outages, postal failure or losses (either of The Minted App or of any other party), act of God, pandemic, war, riot, civil commotion, malicious damage, compliance with any law of Governmental order, rule, regulation or direction, accident, breakdown of equipment, plant or machinery, fire, flood, storm or default of suppliers or sub-contractors.

   23. Complaints Resolution

23.1 If a Customer is dissatisfied in relation to the services being provided by The Minted App, you should contact us immediately in writing in the first instance. In particular, if you dispute, disagree with or have any issue with the content of any communication sent to you by email or by post in accordance with Condition 9 you must contact The Minted App immediately. The Minted App shall be entitled to assume your acceptance of the content of an email or postal communication if within three calendar days of the date of transmission to the correct email address or the date of service of such postal communication (as the case may be), no response from you has been received by The Minted App.

23.2 The Minted App shall use reasonable endeavours to resolve any issues communicated to it by you, but you acknowledge that any delay in communicating such dispute, disagreement or issue may prevent or reduce the value of any resolution of such matter.

23.3 The Minted App will use reasonable endeavours to deal with all Customer complaints in accordance with its Complaints Policy.

23.4 If a complaint relates to the provision by The Minted App of Payment Services or the issuance/redemption of E-Money, and if the Customer is not satisfied with The Minted App’s resolution of that complaint, the Customer may be entitled to refer the matter to the Financial Ombudsman Service (“FOS”).The FOS provides an out of court redress mechanism. You can find more information with regards to their processes, how to contact the FOS and how to bring a complaint on their website: www.financial-ombudsman.org.uk/consumer/complaints/htm

   24. Legal Status

24.1 By placing an Order with The Minted App in respect of any of the Services, the Customer warrants, undertakes and represents that the Customer is:

            i) legally capable of entering into binding contracts;

           ii) at least 18 years old;

          iii) in compliance and shall continue to comply with the laws of the territory from which you make any order or access the Customer Platform.

          iv) at all times be solely responsible for obtaining any authorisation required by any authoritative body in the territory in which you are based.

24.2 The Minted App reserves the right at its sole discretion to refuse Orders from any person suspected to be prevented under the laws of any jurisdiction from transacting for the Services or whom The Minted App may not supply under the law of that jurisdiction, whether or not such law or impediment actually exists or might be enforceable or otherwise have extra-territorial effect.

   25. Assignment and other dealings

25.1 The Minted App may at any time assign, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any or all of its rights and obligations under these Conditions.

25.2 The Customer shall not assign, transfer, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any of its rights and obligations under these Conditions.

   26. Severance

If any provision or part-provision of these Conditions 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 Condition 26 all not affect the validity and enforceability of the rest of the Conditions.

   27. Waiver

A waiver of any right or remedy under these Conditions or by law is only effective if given in writing and shall not be deemed a waiver of any subsequent right or remedy. A failure or delay by a party to exercise any right or remedy provided under these Conditions or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under these Conditions or by law shall prevent or restrict the further exercise of that or any other right or remedy.

   28. No partnership or agency

Nothing in these Conditions is intended to, or shall be deemed to, establish any partnership or joint venture between the parties, constitute either party the agent of the other, or authorise either party to make or enter into any commitments for or on behalf of the other party.

   29. Entire agreement

29.1 These Conditions and any other terms or policy referenced herein constitute the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.

29.2 In the event that there is any ambiguity or inconsistency in or between these Conditions and any other terms or policy referenced herein, the priority of the documents is in accordance with the following sequence: these Conditions any other document identified in these Conditions, any of The Minted App’s other Policies or Procedures.

29.3 Each party acknowledges that it does not rely on, and shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Conditions. Each party agrees that it shall have no claim for innocent or negligent misrepresentation based on any statement in the Contract.

   30. Third party rights

Unless it expressly states otherwise, these Conditions do not give rise to any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of contained herein.

   31. Variation

Except as set out in these Conditions, no variation of the Contract shall be effective unless it is agreed in writing and signed by the parties (or their authorised representatives).

   32. Governing law

The Contract and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.

   33. Jurisdiction

Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with the Contract, Conditions or its subject matter or formation.