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Effective on 26th May 2025

Terms & Conditions

Welcome to Sendi Payments Ltd ("Sendi", "we", "us", or "our"). These Terms and Conditions (“Terms”) govern your use of our mobile app, website, and associated financial services, including:

  • Instant Remittance Services (“Send & Pay Now”)
  • Deferred Payment Remittance (“Send Now, Pay Later”)

1. About Sendi

Sendi Ltd is a UK-based financial technology company registered in England and Wales (Company No: xxxxxxx). We are authorised and regulated by the Financial Conduct Authority (FCA) for the provision of regulated consumer credit and Payment Services. Non-licensed (inst) and are currently applying for a Small Payment Institution (SPI) licence to provide cross border corridor payment services.

2. Eligibility

  • You may only use Sendi if:
  • You are 18 years or older
  • You are legally a resident in the UK
  • You are using the service to send money to a permitted destination country
  • You are subject to customer (KYC) and creditworthiness checks

3. Services We Offer

3.1 Send & Pay Now

  • Send money instantly or in real time to beneficiaries abroad using your own available funds. It includes:
  • Mobile wallet, bank transfer or mobile money or bank account
  • Remittance tracking and notifications

3.2 Send Now, Pay Later (SNPL*)

  • Use our authorised credit to send money instantly while repaying over a short-term period (e.g. 2-6 weeks). Features include:
  • Rapid application, instant decision and credit use
  • Repayment schedule shown up front
  • You must pass affordability checks to use SNPL. Credit is not guaranteed and may be refused.

4. Lending and Credit Broking

  • Sendi acts as a credit broker, not a lender.
  • Loans are underwritten and issued by our FCA-authorised lending partners.
  • We may receive a commission from our lending partners to facilitate the credit.
  • All credit agreements are subject to the Consumer Credit Act 1974 and FCA rules.

5. Fees and Charges

  • SNPL: Fee 2%-5% of the transaction value, depending on loan duration and risk profile.
  • No hidden charges. All costs are shown transparently before you confirm.
  • No fee to load, and there are no penalties for early repayment.

6. Repayments and Defaults (SNPL Only)

  • Repayment dates and amounts will be shown in your credit agreement.
  • You authorise us to collect repayments via card or bank debit on the due date.
  • Missed payments may result in:
    • Additional arrears and recovery steps
    • Interest and recovery fees
    • Reporting to credit reference agencies
  • On change of law, late fees and interest defaults may impact your credit score.

7. How We Use Your Data

  • Verifying your identity (KYC)
  • Processing transactions and loan applications
  • Facilitating "Send Now, Pay Later" credit services
  • Complying with fraud, sanctions, and audit requirements
  • Marketing (if you have consented), and providing account benefits (opt-in only)
  • Reporting to credit reference agencies, under the FCA and HMRC

8. Lawful Basis for Processing

  • Contract – To deliver our services and manage your account
  • Legal obligation – For AML, fraud prevention, and financial regulations
  • Legitimate interests – Improving service delivery, analytics, and fraud detection
  • Consent – For marketing communications and open banking access

We do not sell your data to third parties.

9. Foreign Exchange and Settlement

  • Exchange rates are shown before you confirm a remittance.
  • Settlement times depend on the recipient country, payment networks, and banking hours.
  • We are not liable for delays caused by third-party payment providers or inaccurate beneficiary information.

10. Cancellation and Refunds

  • You may cancel a transaction before it is processed.
  • Once processed, remittances are non-refundable, unless due to a processing error.
  • SNPL credit can be cancelled once disbursed.
  • Any funds erroneously credited may be recovered without your consent.

11. Data Protection and Privacy

We handle your personal data in accordance with our Privacy Policy, UK GDPR, and Data Protection Act 2018. This includes data sharing with:

  • Identity verification services
  • Credit reference agencies
  • Lending partners and service providers

All data is encrypted and stored securely.

12. Your Responsibilities

  • Provide accurate personal and payment information
  • Not use the service for unlawful or restricted purposes
  • Not mislead, defraud, or interfere with our account
  • Not permit others to use your account or send on your behalf
  • Keep your account credentials secure at all times

13. Prohibited Activities

  • Fund illegal activities
  • Violate sanctions or anti-money laundering rules
  • Send money to persons or countries on our prohibited list
  • Misrepresent the purpose of a transaction

Violations may lead to account suspension or reporting to authorities.

14. Our Rights and Responsibilities

  • We may suspend or terminate your access to our services at any time for regulatory, compliance, or security reasons.
  • We may update these Terms with prior notice. Continued use of the service constitutes acceptance of any updates.
  • We are not liable for losses caused by:
    • Network outages
    • Third party processing failure
    • User negligence or incorrect information

Our total liability is limited to the amount of the transaction in question.

15. Complaints and Dispute Resolution

We are committed to fair treatment and offer a formal complaints process:

16. Governing Law and Jurisdiction

These Terms are governed by the laws of England and Wales. Disputes will be subject to the exclusive jurisdiction of the courts of England and Wales.

17. Contact Information

  • Sendi Ltd
  • [Registered Office Address]
support@sendi.co.uk
[Customer Support Number]