Terms of Service

1.1 Contractual Relationship. These Terms of Service ("Terms") constitute a legally binding agreement between you ("User," "you") and Nova Financial App Limited ("Nova," "we," "us"), a company registered in England and Wales (Company No. [Number]) with its registered office at [Address].

1.2 FCA Authorisation. Nova is authorised and regulated by the Financial Conduct Authority (FCA) as an Account Information Service Provider (AISP) under the Payment Services Regulations 2017 (Firm Reference Number: [Number]). You can verify our details on the FCA Register.

2.1 Scope of Services. Nova provides a software platform that aggregates financial data from your designated payment accounts and provides analytical insights.

2.2 Information OnlyNo Advice.

(a) The insights, categorization, and summaries provided by the Service are generated by automated algorithms based on factual data. They are provided for information and guidance purposes only and do not constitute "financial advice," "investment advice," or a "personal recommendation" as defined in the FCA Handbook.

(b) You agree that you are solely responsible for your financial decisions. Nova does not assess the suitability of any product or course of action for your specific individual circumstances. You should consult a qualified financial advisor or tax professional before making financial decisions.

2.3 No Fiduciary Duty. You acknowledge that your use of the Service does not create a fiduciary relationship, partnership, or trust between you and Nova. We act as a provider of technical services, not as your financial manager or trustee.

3.1 The 'Zero-Knowledge' Protocol. Nova utilizes Zero-Knowledge encryption technology. This means your data is encrypted on your device using keys derived from your password/recovery phrase. Nova does not possess your private decryption keys and cannot decrypt your Vault data.

3.2 Irrecoverable Data Warranty. You explicitly acknowledge and agree that: (a) Nova cannot reset your password or recover your Master Key; (b) If you lose your credentials (password/recovery phrase), your data will be permanently unintelligible and irrecoverable; and (c) Nova shall have no liability to you for any loss of data, loss of access, or consequential loss resulting from your failure to secure or retain your credentials.

3.3 User Security Duties. You are responsible for maintaining the security of your device. You warrant that the device used to access the Service is kept free of viruses, malware, and keyloggers. You accept that a compromise of your device may bypass Zero-Knowledge protections, and Nova is not liable for losses resulting from such endpoint compromises.

4.1 Account Information Services. By connecting a bank account, you explicitly consent to Nova (acting as an AISP) accessing your account information via third-party APIs (e.g., Plaid, TrueLayer) and your Account Servicing Payment Service Providers (ASPSPs).

4.2 Re-Authentication. You acknowledge that regulatory standards (Strong Customer Authentication) may require you to re-authenticate your bank connection periodically (typically every 90 days). Failure to do so will stop the data feed. Nova is not liable for data gaps caused by your failure to re-authenticate.

4.3 Service Availability & Accuracy. (a) The Service is subject to the availability of third-party APIs. We do not guarantee uninterrupted access. We are not liable for downtime caused by ASPSP (bank) outages or API failures. (b) Financial data is displayed "as is" and "as received" from your bank. Nova is not responsible for the accuracy, completeness, or timeliness of data transmitted by your bank. Any disputes regarding transaction details must be directed to your bank, not Nova.

5.1 Shared Access. If you create or join a "Household" (Shared Vault), you acknowledge that all members of that Household will have access to the data shared therein.

5.2 Joint and Several Liability. All members of a Household are jointly and severally liable for all activities, fees (if applicable), and breaches of these Terms occurring within the Household account. Nova is entitled to act on the instructions of any one Household member.

5.3 Privacy Waiver. By inviting a third party to your Household, you expressly waive any claim to confidentiality or privacy against that third party regarding the data you choose to share. You warrant that you have all necessary consents to share any data you introduce into the Household (including data from joint bank accounts).

5.4 Dispute Resolution Protocol. Nova will not arbitrate disputes between Household members. In the event of a dispute, or if we receive conflicting instructions from Household members, we reserve the right to suspend access to the Shared Vault until we receive a unified instruction from all members or a valid court order. We are not liable for any damages resulting from such suspension.

6.1 Prohibited Activities. You agree not to use the Service: (a) For any illegal purpose, including money laundering, fraud, terrorist financing, or tax evasion ; (b) To violate any applicable sanctions regime, including those of the UK (OFSI), US (OFAC), or EU ; (c) For commercial or business purposes (unless subject to a separate B2B agreement); (d) To reverse engineer, decompile, scrape, or perform automated queries on the Service.

6.2 Sanctions Warranty. You represent and warrant that you are not a person designated under any UK, US, or EU sanctions list. Breach of this warranty will result in immediate termination of your account without notice.

6.3 Suspension Rights. Nova reserves the right to suspend or terminate your account immediately if we reasonably suspect you are in breach of this Clause 6 or if requested by law enforcement or regulatory authorities.

7.1 Nova IP. All rights, title, and interest in the Service (including software, design, text, and the underlying cryptographic code) remain the exclusive property of Nova.

7.2 User Data. You retain ownership of your financial data. You grant Nova a worldwide, royalty-free, non-exclusive license to use, host, store, and display your data solely for the purpose of providing the Service to you.

8.1 Termination for Convenience. You may terminate this agreement at any time by closing your account. Nova may terminate this agreement for any reason by providing you with at least 60 days' written notice.

8.2 Termination for Cause. Nova may terminate this agreement immediately without notice if you commit a material breach of these Terms (including the Acceptable Use Policy).

9.1 Non-Excludable Liability. Nothing in these Terms excludes or limits our liability for: (a) Death or personal injury caused by our negligence; (b) Fraud or fraudulent misrepresentation; (c) Breach of the terms implied by section 12 of the Sale of Goods Act 1979; or (d) Defective digital content damaging your device, to the extent such liability cannot be excluded under the Consumer Rights Act 2015.

9.2 Financial Cap. Subject to Clause 9.1, Nova’s total aggregate liability to you for all claims arising out of or in connection with these Terms (whether in contract, tort, negligence, or otherwise) shall be limited to the greater of: (a) The total fees paid by you to Nova in the 12 months preceding the claim; or (b) £100 (One Hundred Pounds Sterling).

9.3 Exclusion of Consequential Loss. Nova shall not be liable for any indirect, special, or consequential losses, including but not limited to loss of profit, loss of business opportunity, loss of goodwill, or loss of data (subject to Clause 3.2), even if we were advised of the possibility of such damages.

10.1 Privacy Policy. We process your personal data in accordance with our Privacy Policy [Link], which is incorporated into these Terms by reference.

10.2 Data Sharing. You acknowledge that in order to provide the Service, we may transfer your data to third-party processors (such as cloud hosting providers and Open Banking aggregators). We ensure such transfers are protected by appropriate safeguards (e.g., UK IDTA/SCCs).

11.1 Governing Law. These Terms are governed by the laws of England and Wales.

11.2 Jurisdiction. Legal proceedings may be brought in the courts of England and Wales. If you live in Scotland, you can bring legal proceedings in either the Scottish or the English courts. If you live in Northern Ireland, you can bring legal proceedings in either the Northern Irish or the English courts.

11.3 Complaints & FOS. If you have a complaint, please contact us at [legal@nova.finance]. If we cannot resolve your complaint within 8 weeks, you may be entitled to refer it to the Financial Ombudsman Service (FOS). Details are available at www.financial-ombudsman.org.uk.