Tikelt | Terms and Conditions

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Terms of Service

Please read these terms carefully before using our service to understand your rights and obligations.

tikelt Terms of Service

Last updated: November, 2025.

Effective from: Immediate upon use of the tikelt app or website.

Welcome to tikelt — where money feels effortless, social, and human.
These Terms of Service (“Terms”) explain:

How our platform operates.
Your rights and responsibilities as a user.
What you can expect from us.

By accessing or using tikelt, you confirm that you have read, understood, and agree to these Terms. If you do not agree, please discontinue use immediately.

1. Who We Are

tikelt Ltd ("tikelt", "we", "our", "us") is a UK-based company providing a social payments and shared finance platform that enables users to send, receive, and share money securely without exchanging bank details.

tikelt partners with regulated financial institutions, including Weavr Ltd and Stripe Payments UK Ltd, both authorised and supervised by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2017.

tikelt does not directly hold customer funds; all transactions and safeguarding are managed through our regulated partners in accordance with FCA safeguarding requirements.

2. What tikelt Does

tikelt allows users to:

Send and receive money securely using payment links or QR codes.
Split bills and expenses with friends, family, or groups.
Create and manage Money Circles for shared savings or goals.
Earn cashback and rewards from selected partner brands.
Access prepaid or virtual cards (available soon).

Our services are intended for personal and peer-to-peer use. Business or commercial use may require prior written approval.

3. How Payments Work

Payments are processed through Open Banking APIs or card networks using our FCA-authorised partners.
tikelt never stores or has access to your online banking credentials or full card details.
Each payment must be authorised by you directly through your bank or payment provider.
Once a payment is confirmed, it cannot normally be reversed. Please double-check recipient details before confirming.

If you believe an error has occurred, contact support@tikelt.co.uk immediately. We will liaise with our partners to investigate and, where possible, assist in recovery.

4. Your Responsibilities

To use tikelt, you must:

Be at least 16 years old.
Be a UK resident or located in another supported country.
Provide accurate and truthful information.
Keep your account credentials and device secure.

You must not use tikelt for:

Fraudulent or unlawful purposes.
Money laundering or terrorist financing.
Harassment or abuse of other users.

tikelt may suspend or close accounts involved in prohibited or suspicious activity, in accordance with FCA financial crime obligations and the Money Laundering Regulations 2017 (as amended).

5. Fees and Limits

Standard peer-to-peer transactions are free for personal use.
Some premium services (e.g. tikelt Plus, custom cards, enhanced Money Circles) may have a transparent fee, displayed prior to confirmation.
Transaction and spending limits may apply depending on your account verification level, to manage fraud and AML risk.

6. Refunds & Disputes

Because tikelt facilitates bank-to-bank payments, transactions are typically final once authorised.
If you send money to the wrong recipient:

Contact them directly first, if possible.
If unsuccessful, email support@tikelt.co.uk for assistance.

tikelt will work with its regulated partners to attempt recovery but cannot guarantee reversal once funds have left your account.

7. Privacy and Data Protection

tikelt complies with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.
We collect only data necessary to operate the service (e.g. name, email, phone, date of birth, payment information).

All data is securely encrypted and processed through FCA-regulated providers.
tikelt will never sell or share your data with unauthorised third parties.

Please refer to our Privacy Policy for full details of your rights and how your data is used.

8. Account Suspension or Closure

You may close your tikelt account at any time via the app or by emailing support@tikelt.co.uk.
tikelt may suspend, restrict, or close accounts if:

You breach these Terms or any applicable law.
Fraud or misuse is suspected.
Required by our partners, regulators, or law enforcement.

Where legally permissible, we will notify you in advance and explain the reason for closure.

9. Our Responsibility

tikelt operates with due skill, care, and diligence, but cannot guarantee uninterrupted service.
We are not liable for:

Errors or delays caused by banks, networks, or third parties.
Losses resulting from incorrect payment information you provide.
Indirect or consequential loss, unless required by law.

tikelt’s total liability in any claim will not exceed the total transaction amount related to that claim.

10. Regulatory Compliance & FCA Standards

tikelt adheres to all relevant UK laws and FCA rules, including:

FCA Principles for Businesses (PRIN) – particularly Principle 6 (TCF) and Principle 12 (Consumer Duty).
Money Laundering Regulations 2017 – customer due diligence and reporting obligations.
Payment Services Regulations 2017 – consumer protection, execution of payments, and complaint handling.
UK GDPR and DPA 2018 – safeguarding personal data and ensuring lawful processing.

tikelt maintains internal policies and controls covering AML/CTF, fraud prevention, customer due diligence, data protection, and Consumer Duty.

11. Updates to These Terms

We may update these Terms from time to time to reflect changes in law, regulation, or service features.
You will be notified in-app or via email of any material changes. Continued use of tikelt after such updates constitutes acceptance of the revised Terms.

12. Contact Us

For any questions, feedback, or complaints:

support@tikelt.co.ukwww.tikelt.co.uk

tikelt Ltd, London, United Kingdom

tikelt ltd — Money made for real life.