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Terms + Conditions



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By signing up for and using Banked, you agree to these terms.

Please read our privacy policy. It explains how we’ll use your personal information and gives details about how we use cookies. The privacy policy is available at

About Banked

We are a third party provider which enables you to make payments from your accounts. Our trading name is Banked and our company name is Banked Ltd.

By signing up to Banked and adding your accounts, you’ll be providing us with your online log-in details for each account you add. We’ll store your log-in details securely.

When we refer to 'you' in this agreement, we mean the organisation instructing us to make payments directly from one of its payment accounts. Depending on where it’s used, ‘you’ can mean the organisation or any individual authorised by the organisation to act on its behalf. We'll assume the organisation has authorised an individual to act on its behalf where they're using the organisation's Banked login details to instruct us to make payments. See "What happens if something goes wrong?" (below) for what you should do if you think that a payment initiated through Banked was unauthorised.


1.1 We provide one core service:

Arranging Payments

You can use Banked to:

  • instruct payments to be made directly from one of your payment accounts; and
  • instruct multiple payments to be made in one go (we call this a 'batch payment' in this agreement) directly from your payment accounts.

Once you’ve consented to payments being initiated, you can’t change your mind.

You’ll provide your consent to payments being initiated when you log into your bank account and approve the payments.

We’ll initiate payments by securely communicating with the relevant payment service provider and instructing it to make a payment or batch payments from your selected account. The payment service provider will make the payments in line with any timeframes you’ve agreed with them.

Once we’ve initiated the payments, we’ll:

a. Confirm that the payments have been successfully initiated, unless for any reason we can’t initiate the payments (see “When could we refuse to initiate a payment”); and

b. Return you to the Banked checkout confirmation page.

1.2 In providing this service, we’ll access your online payment accounts with other payment service providers by either:

a. using a dedicated interface (such as an application programme interface or “API”) set up by the payment service provider, or, where this is not available,

b. accessing the payment service provider’s online account portal directly using your own log-in details.

1.3 You agree that we may store and use your online banking log-in details to connect, on your behalf, to the online banking services through which you access accounts in order to provide you with Banked.


We’ll initiate payments where you’ve given us your consent to do so, unless:

a. You’ve given us incomplete or incorrect information;

b. We’re required to refuse to initiate the payments to comply with applicable law and regulation;

c. We think the payments may be fraudulent or otherwise unlawful; or

d. We’ve got reason to believe you aren’t the named account holder of the account.


3.1 You should read our privacy policy, which explains how we’ll use your personal information and sets out our rights and obligations in relation to relevant data protection laws. By agreeing to these terms, you also explicitly consent to us accessing, processing, and retaining any personal data we get as a result of providing this service to you.

3.2 Don’t worry – you can withdraw your consent at any time. If you do, we’ll stop using your data for this purpose, but we may need to continue to process your data for other purposes where we have other lawful grounds to do so – for example, where we are legally required to keep records of transactions.

3.3 We can view, monitor, and analyse any of your Banked-related activity.

3.4 If any of the accounts you’ve added to Banked are joint accounts, or if you're an organisation who has authorised an individual(s) to act on its behalf, you confirm you’ve informed the other account holder(s) or the authorised individual(s) (as applicable) how this information will be used, and that they’ve authorised you to consent to this on their behalf.

3.5 The data you provide for the purposes of using Banked will only be stored for the duration of this agreement.


4.1 Your right to access and use Banked is personal to you and isn’t transferable.

4.2 The information you provide us must be accurate, complete and up to date, and mustn’t give a false impression of your identity.

4.3 You shouldn’t use Banked, the API or any software we provide for any unlawful purpose or in a manner that is inconsistent with this agreement, and should only use Banked in connection with your business activity. You shouldn’t copy, adapt, alter, modify, or reverse-engineer any part of Banked or the API or allow someone else to do the same (unless otherwise permitted by law). You shouldn't access or attempt to access any part or parts of the API that we haven’t granted you access to.

4.4 You must always keep your security details (such as online login details) and any device used to access Banked secure and not share them with anyone other than individuals you've authorised to act on your behalf. You must also make sure that only biometric information (such as your fingerprint when using Touch ID) relating to you is registered on any devices you use to access Banked. We’ll never phone, text or email you asking for your Banked login details.

4.5 The terms and conditions you have with payment service providers for your accounts should allow you to share your online login details with us. If not, you should check that they are happy for you to share this information with us before you use Banked.

4.6 In order to be able to make [single and] batch payments using Banked, you need to integrate our API into your Platform in accordance with the Banked Manuals. [You'll need to check and verify with us the success of such integration through the Developer Console before you can use this service.] You should only use the API in accordance with the terms of this agreement.


While we want you to be able to use Banked whenever you want, occasionally repairs, updates and maintenance on our systems may mean some or all of Banked won’t be available for a while, or may mean Banked is slow for a short time. If you suffer a loss because of this, we won’t be responsible for that loss.


We don’t charge for using Banked. Your payment service provider may charge you fees in line with any terms you have agreed with them. We have no control over these fees.


7.1 Although we’ll always try and give you the best service possible, we aren’t responsible for any loss or damage you suffer if we can’t perform our obligations under this agreement because of any:

a. Legal or regulatory requirements; or

b. Unforeseeable or unusual circumstances which are outside our (or our agents’ and/or subcontractors’) control and which we couldn’t have avoided despite all efforts to prevent it – for example, industrial action or mechanical failure.

7.2 We’ll be responsible for any loss or damage you suffer if it’s a predictable outcome of us breaching this agreement, or if we fail to protect your information and keep it secure as required by relevant law(s). We’ll also be responsible for any obligation we’ve breached if we can’t limit or exclude that obligation as a matter of law.

7.3 If you think that a payment initiated through Banked was unauthorised or incorrectly executed, you must, as soon as possible, contact the relevant payment service provider for the account from which the payment was made.

7.4 We don’t have any liability for any loss or damage arising from your use of Banked to the extent that another of your payment service providers is responsible for that loss or damage.

7.5 If we have been at fault in any way for the unauthorised or incorrectly executed transaction, we’ll deal with this directly with the relevant payment service provider without having to involve you.


8.1 We’ll usually let you know about changes we’re making to this agreement by email, but we might also let you know by using SMS, online notifications or any other appropriate messaging service.

8.2 As long as we give you at least 30 days’ notice in advance, we can:

a. change any of these terms, including introducing or changing a charge, or withdrawing Banked; or

b. end your use of Banked.

8.3 If we make a change to this agreement that benefits you, we can just tell you about this change at the time we make it.

8.4 Your notice period will start from the date we let you know about the change.

8.5 We can change this agreement for a reason set out below. If we do change this agreement, the change we make will be a reasonable and proportionate response to a change that is affecting us or that we reasonably think will affect us:

a. to respond to a change, or a reasonably anticipated change, in regulatory requirements – for example, if the law changes, or our regulator changes its rules or provides updated guidance;

b. to reflect a change in the cost of providing Banked;

c. to reflect changes we have made to Banked; or

d. to do something that is to your advantage.

8.6 As this agreement has no fixed end date, we may also need to make changes to this agreement for other reasons that we can’t predict right now, but we’ll always explain the impact that change will have on you.

8.7 You don’t have to accept any changes – you can always end this agreement without explanation or charge by telling us before the change comes into effect. You can also end this agreement at any time after we make the change, but the change will apply to you until you do.

8.8 If you keep using Banked after the change is made, we’ll assume you’ve accepted the change.

8.9 We can update the API from time to time, and may add or remove functionality. We'll give you notice in the event of material changes to, or removal of functionality from, the API.


9.1 This agreement will continue until you or we end it in the ways set out below

How can you end your use of Banked?

9.2 You can end this agreement and your use of Banked at any time without explanation or charge by contacting us using the contact details set out in “How can you contact us?”.

How can we end your use of Banked?

9.3 We may suspend, restrict or stop your use of Banked where:

a. You’ve seriously or repeatedly broken the terms of this agreement;

b. We’ve reason to believe that you are engaging in, or facilitating, illegal activity;

c. You’ve provided us with false or materially incomplete information;

d. You’ve allowed someone else, including someone working for you who doesn't have authorisation, to use Banked to access your data or make payments;

e. You’ve behaved improperly towards us (for example, you’ve been threatening, abusing or harassing a member of staff);

f. You’ve caused us to, or may cause us to, break a law, regulation, code, or other requirement, obligation or duty that applies to us; or

g. There’s been, or we suspect there’s been, a breach of security or misuse of Banked or the API.

9.4 We can also end this agreement and your use of Banked at any time without giving you a reason by giving you at least 30 days’ notice.


How can you contact us?

10.1 You can get in touch with us by emailing us at

How do we contact you?

10.2 If we need to contact you about Banked, we’ll normally do this via email.

10.3 We’ll also get in touch with you in any other way that is personal to you. This may include SMS, online notifications or any other appropriate messaging service.

10.4 Please tell us if your name or contact details change, including any email addresses, mobile phone numbers or other contact details, so we can keep in touch. If you don’t, we won’t be responsible if you don’t get any information or notices from us.


11.1 We want to provide you with the best service we possibly can, so if you have a suggestion for how we can improve, or you’re disappointed with our service, we want to hear from you. Get in touch using the contact details set out in “How can you contact us?”.

11.2 We’ll acknowledge your complaint within three business days and we’ll keep you informed of our progress until your complaint is resolved. If you’d like a copy of our complaints procedure, just contact at any time.

11.3 We’ll try to resolve any issues to the best of our ability, but if you’re not happy with our response, you might be able to refer your complaint to the Financial Ombudsman using the contact details below, if you're eligible to do so.

Address: Financial Ombudsman Service, Exchange Tower, London E14 9SR

Telephone: 0800 023 4567 or 0300 123 9123



11.4 You may also be able to refer your claim to the Financial Ombudsman Service through the European Online Dispute Resolution Platform (available at This platform was established by the European Commission to provide an online tool for consumers to resolve disputes about goods and services purchased online.

11.5 If you’re not eligible to use the ombudsman service, please note we don’t use any alternative dispute resolution services.


12.1 All the information we give you, and every communication we have with you, will be in English.

12.2 If we choose not to enforce or rely on any of these terms at any time, we can still apply the terms again at any time.

12.3 If a court of competent jurisdiction says any part of this agreement is invalid, unlawful or unenforceable, that part of the agreement will be severed from the rest of the agreement (which means we won’t be able to enforce that part of the agreement). However, the rest of the agreement will continue to be valid and enforceable to the fullest extent permitted by law.

12.4 We recommend that you print or download this agreement and keep a copy of it so you can look at it in the future. The most up to date version of this agreement is available at

12.5 Banked Ltd (company number 11047186) is a company registered with the Registrar of Companies for England and Wales. Registered office: Ground Floor, Finchale House, Belmont Business Park, Durham, England, DH1 1TW.


This agreement (and all our dealings with you before the agreement) is governed by the laws of England and Wales. Any dispute that arises regarding this agreement will be dealt with by any court in the United Kingdom that is able to hear the case.


In this agreement:

  • API means the application programming interface provided by Banked for the purpose of enabling you to make [single and] batch payments, which will be integrated into your Platform.
  • Banked Manuals means the API integration and user guides that we'll make available to you, as amended by us from time to time.
  • Developer Console means the platform and sandbox made available by us for you to test API integration, [access to and use of which is governed by separate terms and conditions].

  • Platform means the website, mobile application, customer portal or any other online platform operated by or on behalf of the Merchant (as amended from time to time) into which the API is integrated.

Authorisation details

We’re authorised by the Financial Conduct Authority under registration number 816944.

To check these details, you can visit the Financial Conduct Authority website or by contacting the Financial Conduct Authority on 0800 111 6768. The FCA’s address is 12 Endeavour Square, London, E20 1JN.


Banked Ltd is authorised and regulated by the UK Financial Conduct Authority

Ground Floor, Finchale House
, Belmont Business Park
, Durham, England, DH1 1TW

Company number 11047186
: Firm Reference Number 816944
: +44 (0) 20 3597 4496

© Banked : 2021