Legal & Policies

1. About these terms

These terms are between you and IFS Currency Limited, trading as Yakinly. They cover your Yakinly account, monthly support plans and one-off payments. We will give you a copy of the full terms in the app and by email, and you can ask for a copy at any time.

2. Who can use Yakinly

You must:

• be 18 or over and live in the UK;
• pay from a UK bank account in your own name;
• use Yakinly for yourself, to support people you know, and not on behalf of anyone else or for business purposes.

3. Opening your account

We verify your identity before you can send money. Most people are verified electronically; we may ask for a photo of your ID and a selfie. We may refuse to open an account, or ask for more information, where the law requires it or our checks are not complete.

4. Monthly support plans

• You set up a plan in the app: who you support, how they receive the money, the amount and the day of the month.
• You then set up a standing order from your own bank, using the plan reference we give you. Yakinly does not take money from your account.
• When your payment arrives, we check it and, if everything matches, send it to your loved one.
• The exchange rate for each monthly payment is set when your money reaches us. Before each payment we show an estimate; afterwards we confirm the exact amount received.
• You can pause, change or cancel a plan in the app at any time. You must also change or cancel the standing order at your bank.
• If a payment does not match your plan (for example, the amount is different), we hold it and contact you.

5. One-off payments

• You choose the amount, your loved one and how they receive it.
• We show our fee, our rate, our margin and the exact amount received before you confirm.
• The quote is valid for the time shown. If your money arrives after that, we ask you to accept a new quote or we return the money.
• You pay by bank transfer from your own UK account, using the reference shown.

6. Fees and exchange rates

Our fees and how we set our exchange rate are explained on our Fees page and shown before every payment. We will give you at least [two months’] notice before changing the fees or the rate method that apply to your monthly plans.

7. Limits

We set limits on how much you can send per payment, per 30 days and per 12 months. The app shows your current limits and when more becomes available.

8. Checks and refusals

We check every payment. We may delay, hold or refuse a payment where we need more information, where the payment does not match our records, or where the law requires it. If we hold or refuse a payment, we tell you (unless the law prevents us) and, where possible, why and what you can do. Money we cannot send is returned to the account it came from.

9. Delivery

We show the typical delivery time for your country and payout method before you pay. Delivery depends on our checks and on the receiving bank or wallet provider.

10. Your responsibilities

• Give us accurate details for yourself and your loved ones.
• Keep your phone, app and passcode secure, and tell us straight away if you think someone else has access.
• Check your loved one’s details before you confirm. If you give us the wrong details, we will try to recover the money but may not be able to.

11. If something goes wrong

If a payment is not delivered or is delivered incorrectly because of our mistake, we will refund it or put it right as the Payment Services Regulations 2017 require. Tell us as soon as possible, and no later than 13 months after the payment.

12. Ending the agreement

You can close your account at any time in the app or by contacting us. We may close your account with [two months’] notice, or immediately where the law requires it or you have seriously broken these terms.

13. Changes to these terms

We will tell you at least [two months] before any change. If you do not agree, you can close your account free of charge before the change takes effect.

14. Law

These terms are governed by the law of England and Wales. You can bring a claim in the courts of the part of the UK where you live.