Business Account Terms & Conditions
Last updated: 17 February 2026
Introduction
These Business Terms & Conditions (‘Business Terms’) are issued by nsave Limited (‘nsave’, ‘us’, ‘we’) and apply to Members who open a Business Account with us.
For the purposes of these Business Terms, a ‘Member’ (‘you’ or ‘your’) refers to a Business.
These Business Terms are incorporated into and form part of the Membership Agreement. You should therefore read these Business Terms together with our Membership Agreement (and any other documents mentioned in that agreement). Unless otherwise noted, any terms which are defined in the Membership Agreement have the same meaning in these Business Terms. If there is any inconsistency between the Membership Agreement and these Business Terms, the Membership Agreement takes precedence.
These Business Terms are a module under our Membership Agreement.
Definitions
We have listed below what we mean when we use certain words and phrases in this Agreement:
‘Account’ means an electronic money account provided to you by one of our Partners.
‘Business’ means a body corporate or partnership (wherever incorporated or formed) which carries on a business.
‘Chargeback’ means that the person sending you money has made a claim to their bank or payment provider that money was sent to you illegally, or the payment to nsave fails due to insufficient funds, account closed or any other reason.
‘Member Services’ means the services we provide to you as set out in the Membership Agreement and these Business Terms.
‘Modules’ means extra sets of terms and conditions that cover services that are in addition to those set out in the Membership Agreement. Once you enter into a Module, it is incorporated into and forms part of the Membership Agreement.
‘Partner’ and ‘Partners’ means other businesses that we work with to provide you with particular services.
‘Reversal’ and ‘Reversed’ means that the funds received by you are reversed, returned, or clawed back for any reason. For example, due to insufficient funds or account closure.
corporate opt-out
If you are a large corporation (that is, not a consumer, micro-enterprise, or a charity), you agree that pursuant to Reg. 40(7) of the Payment Services Regulations 2017 (‘PSR 2017’), that Part 6 of the PSR 2017 does not apply and that you will not be able to complain to the Financial Ombudsman Service.
Member Services
The Business must be organised or registered in a country or territory that we support.
The Business may only open one Account unless we explicitly approve the opening of additional accounts.
We may charge a fee for processing your application to open to an Account. In the event that your application is unsuccessful, this fee is non-refundable.
All natural persons opening or operating Account on behalf of the Business must have authority to bind the Business. We may at any time request proof of such authority. If satisfactory proof of authority is not provided, we may close or suspend the Account or Member Services held by the Business or deny access.
The Business can authorise more than one natural person to access, use or operate an Account or otherwise use our Member Services on behalf of the Business (‘Authorised User’). You acknowledge that if you provide such access to an Authorised User, we will deal with such Authorised User as if they were you for the purposes of this Agreement, including any conduct related to money held in the Account or other instructions such as withdrawing or sending money. You will be bound by anything done by any Authorised User, even if they do something that is outside the scope of the authority you gave them. You acknowledge that nsave will not perform any verification of the authority of your Authorised Users to act on behalf of your Business. You also acknowledge that we may disclose certain information about your profile or Account to any Authorised User and that we are not responsible for your Authorised User's use of that information. Granting permission to any Authorised User does not relieve you of your responsibilities under the Membership Agreement, these Business Terms and other applicable agreements, including notifying us if your Account has been compromised or if a transaction is suspected to be incorrect or unauthorised.
Disputes between you and an Authorised User relating to your Account or our Member Services are a matter between you and the Authorised User. You recognise that nsave is not a party to any claim or dispute between you and your Authorised Users. Because you are bound by the actions of Authorised Users, it is very important that you choose Authorised Users carefully. We suggest you regularly reassess who can be an Authorised User and regularly review the activity undertaken by Authorised Users.
Restrictions
You may only use our Member Services for business purposes. If you require a product or Service dedicated to your personal activities, you can apply for a personal Account.
You must not misuse our Member Services. You must not misuse our Member Services by:
Refusing to cooperate in an investigation or provide confirmation of your identity or any information requested by us.
Attempting to “double dip” during a dispute or claim by receiving or attempting to receive funds from both nsave and a third party (e.g., a merchant), bank or card issuer for the same transaction.
Accessing Member Services from a country that nsave is not permitted to operate in.
We may suspend or close your Account if you breach any of the terms in the Membership Agreement, the App Terms, these Business Terms or any other applicable agreements between us.
Reversals and Chargebacks
Funds added or received into your Account may be subject to Reversal or Chargeback. This means that you will not get those funds credited to your Account.
You may be liable for and/or have funds Reversed or be subject to a Chargeback when, without limitation, we have reason to believe:
nsave, or any other party, sent the amount received to you in error.
The amount received was unauthorised or fraudulently undertaken or induced.
The amount received was received for activities that appear to have violated a law, the Membership Agreement, App Terms, this Business Agreement, and any other applicable agreements between us.
The amount received is, for any reason, Reversed by the sender or a payment provider.
Any other error that may result in your Account being credited in circumstances where you are not the lawful recipient.
If any funds are Reversed by the sender or any payment provider, you agree that nsave may refund, deduct, or Reverse the amount from your Account in the same currency as the original transaction. If your Account balance is insufficient, nsave may at its discretion perform a currency conversion an Account held in a different currency. If a Reversal or chargeback causes you to have a negative balance, you will be immediately liable to nsave for the negative balance plus any losses.
If you receive a debit or credit card-funded payment into your Account and you (or a third party) pursue a chargeback for the transaction, nsave may apply a fee.
Complaints
If you have not opted-out under Clause 3 above and you are unhappy with our products and services, you may make a complaint by emailing us (complaints@nsave.com). Please set out your complaint in detail and attach any supporting documentation.
We will acknowledge your complaint within 3 business days and will endeavour to provide a final written response within 15 business days.
If you are dissatisfied with our response, you may complain directly to Frost Money Ltd at: complaints@frost.app
Alternatively, you have the right to escalate your complaint to the Financial Ombudsman Service (telephone +44 (0)800 023 4567 or email complaint.info@financial-ombudsman.org.uk). For further information, please see the Ombudsman’s consumer leaflet here: www.financial-ombudsman.org.uk/businesses/resolving-complaint/ordering-leaflet/leaflet
