Terms and Conditions for end users

These terms and conditions (the "Terms and Conditions") applicable to End Users (as defined below) govern your access and/or use in Chile of the Fintoc API (as defined below) made available by Fintoc SpA, a joint stock company incorporated under the laws of the Republic of Chile ("Fintoc"). This agreement constitutes a binding contract for you, which will explain and govern your use of and access to the Services by the End User through an Application (as defined below).

By agreeing to these Terms and Conditions, either by accessing or using the Fintoc Services, or by expressly agreeing to them, you agree to comply with and abide by these Terms and Conditions and to carefully read and agree to our Privacy Policy.

By accepting these Terms and Conditions, you agree and acknowledge that: 

(i) These Terms and Conditions constitute a valid and binding agreement enforceable against both parties in accordance with the provisions set out below; 

(ii) The execution, delivery or enforcement of these Terms and Conditions does not and will not violate the terms and conditions of any other agreement to which you are a party, or by which you are otherwise bound, or any applicable law or regulation; 

(iii) The products and/or services accessed by the End User on the Application are governed by the terms and conditions and/or privacy policies to which the End User subscribes to the Application and have no relationship whatsoever with Fintoc; and 

(iv) The terms and conditions and any agreements you have with your bank in respect of your Bank Accounts will remain in full force and effect and will not be affected by the Fintoc Services.

If you do not agree to these Terms and Conditions and the End User Privacy Policy, you will not be able to access the services provided by Fintoc.

FIRST: Definitions.

  1. Application: Website, software, mobile application or any other platform or medium through which the End User accesses the services provided by Fintoc to link his/her Bank Account(s).
  1. API Fintoc:Application Programming Interface(API) that allows the Application Developer to obtain information from the Bank Accounts of its End Users, make bank transfers and agree on automatic payment of debts ("PAC"), always with the End User's express authorization. The Fintoc API is the channel that serves as a connection between the financial institution and the Application Developers.
  1. Authorization: Permission granted by the End User to Fintoc to access the Banking Information of a specific Bank Account and to communicate such information to the Application Developer.
  1. Bank Account: Account or product that the End User has with a banking institution (debit account, credit, credit card, etc.) whose information will be shared with the Developers by virtue of the implementation of the Fintoc API in their Applications and the End User's Authorization. With respect to these accounts, wire transfers may be made or PACs may be agreed, in which case the End User will be required to add the Second Factor. These bank accounts can belong to both individuals and legal entities (companies).
  1. Developer: Professional or company in charge of creating, designing and implementing an Application that will use Fintoc's Services, this concept includes its representatives, managers, workers, contractors, subcontractors and any other dependent.
  1. Bank Information: It is all the information contained in a Bank Account to which Fintoc will have access with the End User's Authorization and that will be transferred to the Developer and includes, among others, the name of the banking institution, name of the credential holder, general information of the Bank Account such as type of account, number and name of the account, among others that are detailed in the Privacy Policy.
  1. Personal Information: Data concerning natural persons, identified or identifiable through lawful means, contained in any type of support.
  1. Pop-Up: Apop-up window that appears automatically on the browser screen, in a window superimposed on the active web page or the active Application.
  1. Second Factor: Numeric series delivered by pinpass, digipass or any other technological means of security of the bank, or numeric series obtained from a coordinates card with which a bank transfer can be authorized and/or the contracting of an automatic payment of debts ("PAC").
  1. Services: This refers to the connection services between the End User's Bank Account and the Application, which is materialized in the transfer of Bank Information to the Developer or the management of a bank transfer and/or PAC.
  1. End User: Natural or legal person identified, or identifiable at least with an email address, who, through the Developer's Application, may use Fintoc's Services by linking in any way his or her Bank Account(s).

SECOND: General aspects.

2.1 Fintoc has developed and owns the intellectual, moral and patrimonial property rights over the Fintoc API, whose purpose is to be the link between the Applications and the End User's Bank Accounts, for which the End User must grant prior Authorization. The End User, by granting such Authorization, will allow the Application to obtain all the information contained in the Bank Account, and that this information can be transferred to the Developer. If the End User uses Fintoc's Services to make a bank transfer or contract a PAC, he/she will have to, in addition to the Authorization already mentioned, deliver to Fintoc the Second Factor, which will be considered a new specific authorization for the requested transaction.

2.2 That said, in these Terms and Conditions we will explain how the Fintoc API works and how the End User will interact with Fintoc and the Application. It is of utmost importance that you also carefully read the Privacy Policy for End Users which sets out what information is collected, who is responsible for the storage and processing of the information and what your rights are.

THIRD: Access to services.

The End User will always access Fintoc's Services through an Application that requires a connection with the End User's banking institution for its operation, either to obtain information from the Bank Account, make a bank transfer and/or contract a PAC. Fintoc is in charge of making the connection between the End User's Bank Account and the Application. Fintoc will never charge the End User for the use of the Services, the Applications may charge for the provision of their own services, in which case the prices and payment methods will be determined by the Application and Fintoc does not have and will not have any interference in the determination of the price, payment method and collection.

FOURTH: End User Access to the Service.

4.1 Requirements applicable to the End User. In order for you to access the Services provided by Fintoc you must comply with the following requirements: 

a) Be over 18 years of age.

b) That the banking institution to which you are granting access is located in the Republic of Chile.

c) Be the holder or have sufficient legal powers to access the Bank Account that you will connect through Fintoc.

d) Read and accept these Terms and Conditions and the corresponding End User Privacy Policy.

4.2 Access and Authorization of the End User. The End User will first enter the Application, in which he/she must register and accept the terms and conditions and/or privacy policies of the Application, and at the time he/she requires to link his/her Bank Account, he/she may, through a Pop-Up, authorize Fintoc to collect the information contained in a particular Bank Account or in specific products of a particular Bank Account. Details of the information that is collected and who is responsible for its storage and processing can be found in the End User Privacy Policy which you should read and accept in full. 

In this Pop-Up you will find the following: 

a) A link to these Terms and Conditions;

b) A link to our End User Privacy Policy;

c) A special field for you to expressly indicate which accounts and/or banking products you grant access to; and 

d) A form for you to provide us with your personal identification number and your password to the corresponding bank's web page, and in the event that the End User is a company, the personal identification number of the natural person accessing the Services, the company's personal identification number and the password to the corresponding bank's web page will be requested. 

By providing us with this password to access your Bank Account you declare and confirm that you are the account holder or have sufficient legal authority to provide this password.

With this Authorization you are allowing: 

a) Fintoc accesses and stores the Banking Information in respect of a particular Bank Account from the time the Authorization is produced until the Authorization is revoked.

b) Fintoc can store the password given by the End User (only if it is necessary for the operation required by the Application).

b) Fintoc shares the Banking Information solely and exclusively with the Application through which you accessed the Fintoc Services. 

This Authorization does NOT allow Fintoc or the Application: 

a) Carry out transactions in your Bank Account (such as transfers, contract banking products, investments, credits, etc.) In order to carry out transfers and contract PACs it will be necessary for the End User to deliver the Second Factor, therefore, this Authorization alone does not authorize Fintoc to carry out bank transfers or contract PACs in the name of the End User.

b) Sell or deliver the Banking Information obtained to third parties, unless expressly authorized by the End User in this regard.

It should be noted that, at the time you submit the authorization, you may be redirected to your bank's website for authentication so that the bank can ensure that you have consented to this release of information. 

The Authorization is given from the time the End User enters the password in the Pop-Up and until its revocation. In the intermediate period Fintoc will have access and will be able to store the information, update it and share such updates with the Application.

4.3 Use of the Services. As indicated above, the Fintoc API will always be used through an Application and its use can be given in the following ways: 

a) To deliver certain Banking Information to the Application, which is necessary for the provision of the latter's own services. For this functionality it is only necessary to have the End User Authorization described in section 4.2 above. 

b) To make bank transfers, in which case not only the Authorization referred to above is required but also the End User must enter the password of his/her pinpass, digipass or other technological means of accreditation of the bank itself, or the numerical series requested from the coordinates card corresponding to the Bank Account on which the End User wants to make the transaction, that is to say, the Second Factor.

c) To contract automatic bill payment (PAC) will also require the Authorization and the Second Factor of the End User's Bank Account.

4.4 Revocation of Authorization. The End User may revoke the given Authorization at any time without indication of cause. By revoking the Authorization, the existing link between the Bank Account, the Application and Fintoc will be eliminated, therefore, from that moment on, none of the above will have access to your Bank Information. Fintoc will delete all the End User's information in its possession. The revocation, in any case, does not operate with retroactive effect since Fintoc delivers the information immediately to the Application. The possibility of deleting the Bank Information already delivered to the Developer must be consulted in the terms and conditions of the Application or must be coordinated directly with the Developer.

4.5 Blocking of End Users. Fintoc reserves the right to block or delete an End User if the End User:

a) Take any action that may be considered a violation of these Terms and Conditions and/or Fintoc's Privacy Policy.

b) Attempts to manipulate your Banking Information.

c) Attempts or succeeds in introducing or spreading computer viruses or any other physical or logical systems that are likely to cause damage to the API Fintoc. 

d) Attempts or succeeds in acts of decompilation, reverse engineering, modification, disclosure or provision of the Fintoc API.

We will take reasonable steps to notify the End User in the event that he or she is blocked or removed. However, if in Fintoc's judgment the severity of the breach so requires, the End User may be blocked and removed without prior notice. Fintoc shall not be liable for damages of any nature whatsoever suffered by the Developer, the End User or third parties for the exercise of the rights granted to Fintoc in these Terms and Conditions.

FIFTH: Independence of service providers.

It is important to highlight that Fintoc API is a program through which the Developers can access the End User's Banking Information and, in this sense, Fintoc is an intermediary between the banking institution, the End Users and the Developers, therefore, the responsibility in the provision of the service offered by each Developer in its own Application are not Fintoc's responsibility in any measure. Fintoc is not responsible for the use given to the information collected through the Fintoc API, nor is it responsible for the compliance with the current regulations regarding personal data protection, and in general for all the conditions in which the Developer provides its own services. For its part, Fintoc may grant access to the End User's Banking Information only to the extent that the End User has granted its Authorization for such delivery of information and may only authorize transfers and PACs if it has the End User's Authorization and the Second Factor.

SIXTH: Intellectual and industrial property rights.

The ownership, property rights and intellectual and industrial property rights over the API Fintoc and the Fintoc brand belong to Fintoc. The program is protected by Law 17.336 on Intellectual Property and unauthorized use of it may be punishable by law.

Use of the Fintoc API and acceptance of these Terms and Conditions does not imply any transfer of title or ownership of the Fintoc API, in whole or in part, and shall not be construed as a sale of any rights to the Fintoc API beyond the use and functionality detailed herein.

SEVENTH: Data protection and privacy policies. 

As stated above, the collection, storage, treatment or processing of the information obtained through the use of the services provided by Fintoc is the sole responsibility of the Developer, and the Developer will be liable to the End User and to the banking institutions. You can find more information on this subject in our End User Privacy Policy (add link), whose acceptance will be mandatory to access the Services. 

At any time the End User may request the deletion of their personal data, and their Bank Information, in accordance with Law No. 19.628 on the Protection of Privacy.

EIGHTH: Amendments.

Fintoc may amend these Terms and Conditions upon notice to End User so that End User may revoke the Authorization prior to the effective date of the new End User Terms and Conditions if End User does not agree to the new End User Terms and Conditions. However, Fintoc may interpret your continued use of the Services after the effective date of the new Terms and Conditions as your acceptance of the amendment. Our failure to insist on compliance with any provision of the Terms and Conditions at any time does not constitute a waiver of that provision or any other provision of the Terms and Conditions.

NINTH: Principle of preservation of the legal act. 

If any provision of these Terms and Conditions is held by a court of competent jurisdiction to be invalid or unenforceable, such provision may be modified by the court and interpreted as nearly as possible so as to enforce the original provision to the fullest extent permitted by law. The invalidity of any provision of these Terms and Conditions shall not affect the validity of the remaining provisions of these Terms and Conditions. 

TENTH: Notifications and communications.

Fintoc may notify the End User by telephone or to the End User's e-mail address.

The End User may notify and communicate with Fintoc by means of a message on the Fintoc website intercom or by e-mail to the following address: usuarios@fintoc.cl.

Eleventh: Applicable Law. 

The present Terms and Conditions, as well as the relationship between Fintoc, the Developers and the End Users, will be governed and interpreted according to the legislation in force in the Republic of Chile.

For all legal effects, the End User and Fintoc establish their domicile in the commune and city of Santiago de Chile, and extend competence to its ordinary courts of justice.