1. Who we are
1.1. We are Wagebox LTD, a company registered in England and Wales (Company Number 12308673). Our registered office is at 63-66 Hatton Garden, 5th floor, suite 23, London, United Kingdom, EC1N 8LE). We own and operate the website https://wagebox.io/ and our application (‘App’) Wagebox.
1.2. Our regulatory status
Wagebox Limited provides you with regulated account information services as an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Registration Number: 804718) for the provision of payment services, including account information services. Our FCA registration number is 928465.
1.3. Getting in touch with us.
1.3.1. You can contact us by emailing us at email@example.com.We can also be contacted in-app through the live chat option.
1.3.2. If we have to contact you or give you notice in writing, we will do so by email, through the site or App or through an instant messaging service using details you provide to us. We may also contact you by telephone or SMS.
1.3.3. It is your responsibility to ensure the contact information we have for you is up to date.You are required to notify us promptly if there is a change to: your name; your address; your Personal Accounts; your mobile number and/or your status as a UK resident. Following any of these changes It might be necessary for us to ask you for, and for you to provide, more information as part of this process.
1.3.4. We may record conversations that we have with you. We will store recordings in accordance with applicable law, and / or for as long as we consider necessary to be able to provide the Services to you.
2. What we do/ our services:
Wagebox is a personal finance platform designed specifically to improve your financial wellbeing. Wagebox is able to do this by;
2.1. Early pay access ('Get Paid Early’)- You can request a fraction of your accrued wage, prior to payday. On your payday, Wagebox will take back what was advanced to you at no extra cost.
2.1.1. We can only approve up to £100 per day. You can use this feature four (4) times within your pay period. 2.1.2. We will usually transfer this money to your linked bank account the same day or the next working day (if requested after 3PM or on a weekend).
2.1.3. On your payday, we will send a request for the total amount advanced.
2.1.4. You will not be able to use the get paid early feature if in the following scenarios;
i). We have not been successful in taking back any outstanding amount and it is past your payday.
ii). It has been 90 days or more since you connected your personal account, or your personal account has been disconnected from Wagebox. iii. We decide, based on your spending habits and affordability, not to approve your ‘Get Paid Early’ request.
2.1.5. The Get Paid Early feature is only available from 14 days after you pay for the annual subscription. This only apply to new users.
2.2. Budgeting- Wagebox makes budgeting around you money easy and fun. You can group your spending into categories and set budgets for them.
i). You will be able to see all your upcoming reoccurring payments so you don’t miss any payment or caught unawares.
ii). Wagebox will always let you know how much is ‘safe’ to spend each day. Our algorithms does this calculations for you so you do not need to worry.
2.3. Savings- Wagebox offers two types of savings; A ‘Savings box’ (that lets you save a percentage of your wage each time you get paid from your employer) and ‘Spaces’ (that lets you set and fund goals. Spaces rounds up your your spare change few times a week).
i). You can fund or withdraw any amount from your savings with Wagebox at any time. For withdrawals, we will transfer the funds the same day or the next working day to your linked bank account.
2.4. Accounts overview- You can securely link your personal accounts (bank, credit card accounts, investments and pension account). This makes it easy for you to keep track of your finances in one place.
i). To use services provided by Wagebox, we may redirect you to one of our trusted Aggregation Partner(s) who will take you through a secure process to access information from your Personal Account. You will be asked to provide your explicit consent to enable us and our Aggregation Partner to access specified information about your Personal Account and your transactions on a read-only basis. To keep you safe, we will periodically ask you to renew your consent, usually every 90 days.
Wagebox isn’t endorsed or sponsored by the providers of your personal accounts.
3. Access and use of Wagebox
3.1.1 You must complete an application ("Signup process") to be able to use Wagebox. By completing our Application,you confirm that the information you have provided is accurate and complete.
3.1.2 At least be 18yrs of age, UK resident and have a bank account. To qualify for the get paid early feature; you must also have a valid permanent employment in the UK.
3.1.3 If any information provided in your application is found to be incorrect or incomplete and we have not received the outstanding information within five (5) Business Days of us informing you of this, we may reject your Application and return any monies received from you.
3.1.4 We have full discretion to accept or reject an application and we reserve the right to reject your Application and not to give you any reasons for doing so.
3.1.5 You must not allow anyone to access the Services on your behalf. You must treat as confidential; the user passcode, pin, password and any other piece of information that could be used to gain access to your account.
3.1.6 You must not misuse the Service by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to the Service, the server/servers on which the Service or any part of it is stored or any server, computer or database connected to the Service. You must not attack the Service via a denial-of-service attack or a distributed denial-of service attack or in any other way. In the event of such a breach, your right to use our Service will cease immediately.
3.1.7 We might close or freeze your account without warning if you are in violation of the ‘Terms’ set out in this document.
3.1.8 You can close your Wagebox account at anytime. You can contact us to do this for you. If your account is cancelled,we will send any funds left on your account to your linked bank account within three business days.
3.1.9 For compliance purposes and in order to provide the Services to you, you hereby authorise us to, directly or through a third-party, obtain, verify, record and (where appropriate) share information and documentation that helps us verify your identity and Personal Account information. When you register for Wagebox and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you. You agree to provide us from time to time with all such information about you as we may reasonably require in order to fulfil
(i) our obligations under applicable laws; and/or
(ii) our obligations to you under these Terms.
3.1.10 We do not check the accuracy of the Personal Accounts information and personal information you provide to us and we rely on you and your Personal Account providers to ensure that the Personal Accounts information and personal information you provide to us is up to date and accurate.
3.1.11 Neither us nor our third party provider can initiate any transaction on your Personal Account. However, if you are concerned about any activity on your Personal Account please contact your account provider in the first instance. If we believe that there is any suspected or actual fraud, or we suspect that there has been a security breach we will contact you by email or any other secure means we may think most appropriate.
4. USE OF DATA.
4.2. Who we share your data with
4.2.1 Companies that provide services to us. Here we mean companies that help us provide services you use and need to process details about you for this reason. We share as little information as we can and encrypt and/or make it impossible for you to be identified by the recipient where possible (for instance by using a User ID rather than your name).
4.2.2 Companies that help you link your account to Wagebox app like our Open Banking partner, Plaid financial Ltd.
4.2.3. Know Your Customer (KYC) service providers that help us with identity verification or fraud checks like Sum and substance.
4.2.4. Cloud computing power and storage providers like Amazon Web Services (AWS).
4.2.5. Companies that help us with functional analytics (to help us solve technical issues with the app for instance).
4.2.6. Companies that help us with marketing (but we won’t share identifiable personal data with third parties for their own direct marketing unless you give us permission, and you can opt out any time).
4.2.7. Software companies that we use for emailing you such as Zendesk, Sendgrid, Intercom.
4.2.8. Companies that manage our CCTV and security if you visit our offices. Anyone you give us permission to share it with. We tell you in the app when we need your consent to share your data with.
4.2.9. Companies that introduce their own services via the Wagebox app, for instance, energy switching services
4.2.10. People you have asked to represent you,like solicitors. Law enforcement and other external parties.
4.2.11. Authorities that spot and stop financial crime, money laundering, terrorism and tax evasion if the law says we must, or if it is necessary for other reasons.
4.2.12. The police, courts or dispute resolution bodies if we must.
4.2.13. Banks to help trace money if you are a victim of fraud or other crimes or if there is a dispute about a payment.
4.2.14. Any other third parties where necessary to meet our legal obligations. We may also share your details with people or
companies if there’s a corporate restructure, merger, acquisition or takeover.In such case, you will be adequately informed before this takes place.
We charge a one-off annual membership subscription fee of £31.99 to use Wagebox full features.
Warranty By signing up to use Wagebox, you agree that;
6.1. The use of our services, and that of our third party providers, are at your own sole risk.
6.2. The Services are provided on an "as is" and "as available"basis. We (and our third party providers) do not also warranty that;
6.3. Our services will meet your expectations or requirements Results obtained from us will be reliable.
6.4. Our technology is error free or that any errors will be corrected.
7.1. Our responsibility in the case of violation of obligations and tort shall be limited to intent and gross negligence. Only in case of a breach of essential contractual duties (core obligations), We shall also be liable in case of slight negligence. In any case,liability shall be limited to the foreseeable, contractually typical damages. The limitation mentioned above does not apply to injuries to life, limb, or health.
7.2. We take no accountability and responsibility in case of our App damages a device or digital content belonging to you, we will either repair the damage or pay you compensation. However, we will not be liable for damage that you could have avoided by following our advice to apply an update offered to you free of charge.
7.3 We take no accountability and responsibility in case of You agree not to use the product for any commercial,business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity..
7.4. We take no accountability and responsibility in case of Death or personal injury caused by our negligence, fraud or fraudulent misrepresentation.
7.5. We take no accountability and responsibility in case of loss of data which is caused by factors other than negligence or breach of statutory duty on the party of us or our trusted third party provider.
7.6. We takes no accountability and responsibility in case of the acts or omissions of the providers of your Personal Account(s).
7.7. We are not a financial, tax or legal adviser, and we do not offer any of such services. If you are unsure if our services is suitable for you, its best you first speak to someone qualified.
You agree to indemnify us (including our third party providers) against any and all claims, losses, damages, expenses and costs (including reasonable legal fees and expenses) arising out of or in connection with your use of the Service in violation of these Terms, or infringement of third party rights, except to the extent that we have breached these Terms or been negligent.
9. Making a complaint
Here's how to make a complaint.
Last Updated 13/08/2021.