1. General Provisions
1.1. Scope
These Terms and Conditions for Banking Services (“Banking Services T&Cs”) shall apply to all services, content and functions (“Banking Services”) provided by radicant bank ag, Mühlebachstrasse 162-164, 8008, Zürich, Switzerland (“radicant”) via the radicant mobile application (“radicant app”) to You as the client of radicant (“You”). radicant provides the Banking Services exclusively on the basis of these Banking Services T&Cs, the current version of the Data Protection Notice apps and the radicant Basic Agreement (“Basic Agreement”) including the respective service schedules, if applicable, and all related terms and conditions and terms of use between You and radicant.
A list of Banking Services offered by radicant and applicable fees, are available in the radicant app and on https://radicant.com/pricing.
Upon registration within the radicant app, You agree to these Banking Services T&Cs and accept them as binding and valid.
In addition to these Banking Services T&Cs, separate terms and conditions of radicant apply, as far as it is necessary for the provision of the radicant Banking Services. Where applicable, You will be required to consent to additional legally binding documents via electronic means before You can use the related services.
The provisions contained in these Banking Services T&Cs apply to all Terms and Conditions governing Your contractual relationship with radicant.
1.2. Conditions of use
For the use of radicant Banking Services, radicant will open a digital bank account for You with a Swiss IBAN number. Your digital bank account with radicant is prerequisite for the provision of any radicant Banking Services. The following conditions for the use of radicant Banking Services apply:
- You must be at least 18 years old;
- You must possess the legal capacity to act;
- You must be a citizen of Switzerland or of any European Union or European Economic Area country;
- You must not be a U.S. person within the meaning of the Foreign Account TAX Compliance Act (FATCA);
In case You no longer meet the above conditions, You are obliged to inform radicant without delay.
Before You can use the radicant Banking Services, radicant needs to identify You. Only identified persons are deemed to be legitimate users who have the right to issue binding orders and instructions to radicant. radicant applies due care in verifying Your identity by means of an adequate electronic identification or authentication method, and takes appropriate security measures to identify and prevent fraudulent activities.
1.3. Recording of communications
radicant is permitted to record telephone conversations and other communications. When doing so, radicant may use electronic or other means without advance notice and to store all records for quality assurance, compliance with legal and regulatory requirements, and for evidentiary purposes.
1.4. Banking holidays
Saturdays and public holidays of the Swiss Confederation and of the Canton and City of Zurich shall be treated as bank holidays. Further holidays may apply, depending on the jurisdictions involved in individual business transactions.
1.5. Assignment of the contractual relationship
All radicant Banking Services offered are to be used exclusively for Your personal purposes. You cannot grant powers of attorney and you may not assign Your contractual relationship with radicant nor any rights and obligations thereunder, including in respect of individual orders or transactions, to any third party.
1.6. Language
The radicant app is available in German and English. All documents and information in the radicant app will be displayed in the language you select. If You decide to change the language settings, the documents originally signed within the radicant app will be the legally binding ones.
1.7. Severability clause
If one or several provisions of these Banking Services T&Cs or of any other Terms and Conditions governing Your contractual relationship with radicant proves invalid, incomplete, or void, the validity of remaining provisions shall be unaffected. In place of the invalid/void provision, a provision that comes closest to the purpose intended by the invalid/void provision shall take effect. This shall also apply to fill any gaps in the contract.
1.8. Applicable law and jurisdiction
All legal relations between You and radicant are exclusively construed under and governed by the substantive laws of Switzerland, excluding the provisions of international private law and other conflict of laws. In case of any dispute arising out of or in connection with the relations between You and radicant, the competent courts of the City of Zurich, Switzerland, shall have exclusive jurisdiction if no mandatory statutory provisions provide otherwise. radicant reserves the right to take legal action at the place of Your domicile or before any other competent court or authority.
1.9. Amendments Banking Services and other T&Cs
radicant is entitled to amend and update these Banking Services T&Cs and any other Terms and Conditions governing Your contractual relationship with radicant at any time. You will be notified of any amendments by appropriate means. Amendments to these Banking Services T&Cs and any other Terms and Conditions governing Your contractual relationship with radicant are deemed approved if You do not object in writing within 30 days of the date of the notification.
You can find the applicable version of the Banking Services T&Cs and other Terms and Conditions governing Your contractual relationship with radicant in force , as amended from time to time, within the radicant app and on https://radicant.com/our-story/legal/.
2. Execution of orders and instructions
radicant accepts and executes orders or instructions issued by You within the radicant app. radicant may, in its own discretion, decide on the acceptance of assets for deposit or trading, or of amounts to be credited. radicant may, without giving any reason, refuse acceptance or execution, or reject, refuse or return, in full or in part, any assets or amounts received, in particular if it considers the relevant transactions or circumstances unusual or if it identifies or suspects any infringement of, or otherwise to ensure compliance with, legal and regulatory requirements, standards, contractual agreements, practices or internal policies.
If You exceed Your credit balances or limits, radicant is entitled, at its discretion and irrespective of the date or time the orders or instructions are issued or received, to decide if and to which extent individual orders or instructions are executed in full or in part.
3. Communication and “electronic consent”
radicant is authorized to use the radicant app as the main communication channel for information and notifications such as account statements, adjustments to the Banking Services T&Cs and other Terms and Conditions governing Your contractual relationship with radicant, price adjustments, etc. radicant is also authorized to send communication and notifications to the e-mail address You provided during the onboarding process or via other widely accepted communication means (“appropriate means”). You can use the same means of communication towards radicant, unless otherwise agreed. You acknowledge that unencrypted e-mails and other unprotected electronic communication channels are not secured against access by unauthorized third parties and therefore entail corresponding risks, e.g. lack of confidentiality, manipulation of content or sender data, misdirection, delay or viruses.
As soon as electronic documents and notifications from radicant are available to You in the radicant app or made available to You via appropriate means, they are considered to be delivered.
You may receive push notifications within the radicant app, whether You are logged in or using the radicant app and whether Your device is locked or in sleep mode. Push notifications are a means by which radicant provides information and alerts associated with the use of the radicant app or Banking Services. Sending push notifications is out of radicant’s control but is linked to the operating system push notification service (OSPNS) supported by each mobile operating system. Push notifications can be tuned off via device settings.
You can communicate with radicant using the chat feature (radi). radicant offers the chat feature through its website and the radicant app to assist You with common questions. radicant collects and processes Your personal data if You provide them for the purpose of using the service. In all cases, session data such as Your IP address, the time and date of contacting radicant, and general chat data, as well as information on chat contents and uploaded files, are stored. radicant analyzes the content of Your chat (chat history) and all uploaded files to improve the quality of the service provided and/or better understand Your requests.
Messages and communications between radicant and You that are intended for You only and may not be forwarded to other persons, reproduced or distributed in any other way.
radicant Banking Services are only offered digitally. When radicant asks You to provide Your consent/confirmation, e.g., as legal basis for the services selected by You, You are required to provide such consent/confirmation by electronic means. Therefore, the term "in writing" also includes Your declarations of intent via electronic channels and means.
In case of changes with regards to any of your personal information relevant for Your contractual relationship with radicant (e.g., changes of name, address, residence or tax residency, telephone number or e-mail address), You are obliged to notify radicant without delay.
4. Your duty of care
When You use radicant Banking Services, the following principles and duties apply:
- You are required to install the radicant app on Your personal device;
- You undertake to store Your data carefully and securely to prevent unauthorized persons from accessing Your account or any of Your information;
- You shall observe all precautionary measures to minimize the risk of fraud or other similar activities. In particular, You are obliged to keep all Your passwords, codes, PINs and screenlocks securely stored in order to prevent misuse and unauthorized access to Your radicant account, app, and Your device;
- You shall keep Your passwords, codes, PINs and screenlocks separate from Your device. Passwords and PINs should be changed immediately, if You suspect that an unauthorized person has gained access to Your passwords/codes or Your device;
- You are obliged to register at radicant with an e-mail address to which only You have access to. Neither the e-mail address used nor the access data to it shall be shared or passed on to someone else;
- You are required to make inquiries to radicant exclusively via the e-mail address You registered with, or directly via the radicant app;
- Your devices and software are part of the system but are outside of radicant’s control and may become a weak point of the system;
- You shall not send sensitive or time-critical information, instructions and booking-relevant information to radicant by unencrypted e-mails or unprotected electronic communication means. You shall use the communication means provided by radicant for this purpose and check the correctness of the executed transactions without delay;
- You are responsible for compliance with the legal and regulatory provisions applicable to You at all times, in particular tax, anti-money laundering and data protection laws and regulations.
It is strictly prohibited to carry out attacks on the functionality of the services offered by radicant, such as the mass sending of e-mails (SPAM), hacking attempts, brute force attacks, the use or sending of spyware, viruses and worms. Violations of these rules will be reprimanded immediately by warning, (temporary) blocking and/or complete exclusion from the use of the account. radicant reserves the right to take further legal action.
5. Statements, complaints and objections
radicant provides You with account statements at least on an annual basis or in the applicable intervals agreed with You. You can access transactions on Your radicant bank account at any time in the radicant app.
You shall lodge any complaints with regards to any defective or delayed execution or non-execution of transactions, or in respect of any statements or other radicant communication immediately upon receipt, but not later than 30 days from the date of the relevant transaction receipt, statement or communication. If You do not object to the statement within 30 days from the date of the statement, account and custody account statements will be deemed approved. You shall notify radicant, without delay, where any expected communication is not delivered, or not delivered in an appropriate timeframe.
6. Outsourcing
radicant may outsource operations and services, in full or in part, to affiliates or third parties in - or outside of Switzerland, e.g. the EU/EEA or other countries where comparable data protection regulations apply. Outsourcing may concern IT, back- and middle office functions such as research, funds services, portfolio management services, investment advisory services (incl. sub-advisory services), index administration and calculation agent services, compliance and risk control, internal audit, client onboarding and servicing functions (incl. online identification), anti-money laundering due diligence and monitoring functions, payments, credit/debit card services, administration and trading, processing and safekeeping of securities and other financial instruments.
In general, outsourcing results in the transfer of data related to the business relationship with You, including data identifying or allowing to identify You ("Your Data"), as well as other data relevant to the service provision, to affiliates or third-party service providers, which may further outsource or subdelegate certain operations and services. Therefore, Your Data may be disclosed to service providers in- or outside of Switzerland, e.g. EU. radicant requires all service providers to observe applicable confidentiality and data protection rules. radicant puts in place safeguards required by applicable data protection laws if Your Data is transferred to jurisdictions without adequate data protection laws (e.g. by entering into approved data transfer agreements with the data processors domiciled in such jurisdictions).
You hereby consent to Your data being processed by radicant and transferred to third parties in connection with Your business relationship. You further consent for such third-parties passing Your data on to additional outsourcing partners.
7. Confidentiality and banking secrecy
radicant is required by law to treat Your Data confidentially. For the following purposes, however, You expressly release radicant, its governing bodies, employees and third-party service providers from their obligations to maintain banking secrecy, confidentiality and other Data Privacy regulations as far as permitted by law:
- transactions and services: for or in connection with transactions and services that radicant provides to You (e.g. payments, custody services, trading or other transactions in securities, including over the counter transactions, foreign exchange or precious metals transactions as well as services in relation to credit and debit card offerings) requiring a disclosure, in particular if such activities relate to or stand in connection with any foreign jurisdiction and where applicable laws or regulations, standards of self-regulation, contractual provisions, business or trade practices demand disclosure of information. radicant is allowed to disclose Your Data and related information, including with respect to beneficial owners and counterparties, transaction background, rationale and due diligence measures applied by radicant, to third parties involved in the relevant transactions and services, including without limitation to trading venues or platforms, issuers, brokers, custodians, banks or other financial service providers, technology or other service providers, central depositories, trade repositories or authorities and any of their representatives or agents. radicant is not able nor required to perform any such transactions and services if You withdraw or refuse to give Your consent or cooperation.
- data exchange within radicant: to enable radicant to exchange Your Data with affiliates, branches and representatives of radicant in - or outside of Switzerland for business purposes, in particular to comprehensively and efficiently serve You, to provide services outside regular business hours and to be able to inform You about radicant’s product and service offerings across jurisdictions. radicant requires all data recipients to observe applicable confidentiality and data protection obligations.
- outsourcing: for the purposes of outsourcing in accordance with these Banking Services T&Cs, this includes the disclosure of Your Data to third party service providers or affiliates in- or outside of Switzerland.
- legal and regulatory requirements: for the purpose of complying with domestic and foreign legal and regulatory obligations or to safeguard the legitimate interest of radicant.
- compliance: to the extent necessary for compliance purposes such as e.g., KYC and AML checks, reciprocal exchange and retrieval of data may include all details relating to You, the relationship between You and radicant, any beneficiaries and other parties involved in the banking relationship. Data may also be shared with third parties in selected jurisdictions under outsourcing agreements.
- referral programs: radicant may introduce referral programs and other similar offers in the radicant app or any other means. Referral programs constitute an opportunity to refer a friend to radicant and gain a reward if the person completes the specified activity with radicant. In case You decide to participate in referral programs/offers, Your banking relationship with radicant will become apparent to the persons You referred.
Where not specified otherwise, and in particular in any cases where data is transmitted outside of Switzerland, the recipients of Your Data may neither be bound by Swiss banking secrecy nor Swiss data protection laws or equivalent standards, and their use of the data may be outside of the sphere of influence of radicant. All risks of loss and damage in connection with permitted data disclosure by radicant shall be borne by You.
8. Data Protection
To the extent Your Data constitutes personal data according to applicable data protection laws and regulations, radicant processes such data, as well as any other data that You have provided radicant with or that has been collected by radicant in the course of its business relationship with You, in accordance with the applicable laws and regulations.
For the principles for the processing of personal data, and the purposes for which personal data is processed by radicant, please refer to the Data Protection Notice radicant apps.
9. Profiling and Marketing
radicant and third parties commissioned by radicant may process and combine, in an automated manner, Your personal data (financial data, e.g., transaction and payment data, asset data, custody account activities, Your preferences) and use them to evaluate certain aspects concerning You, in particular to analyze or predict aspects pertaining to Your economic situation, personal preferences, interests, behaviors, locations or movements (profiling).
Profiling is used to create client segments for radicant to be able to provide You with targeted advertising or offers that are tailored to Your preferences, but also to perform marketing research and product development, as well as for risk management activities.
The data used for profiling may be obtained from the radicant’s own sources, from publicly accessible sources and from contractually affiliated data providers.
You acknowledge and hereby agree that Your personal data may be processed and combined from both radicant and third parties in an automated manner for the listed purposes.
10. Transaction data
radicant and engaged third-party providers may receive and use anonymized and general information about You, to improve its software or the product of its software. This anonymous data concerns details related to Your transactions (e.g., transaction type, transaction amount, transaction status values) as well as general information about Your use of the radicant services.
radicant automatically classifies transactions into distinct categories (e.g., income, salary, rent, travel), and creates statistics related to the use of Your radicant bank account over a predetermined period of time. By assigning transactions to a category, radicant is able to determine the total number of transactions carried out during a certain period in a specific category, which allows You an overview of Your income and spending at all times.
You acknowledge and hereby agree that said data may be used for software improvement purposes as well as for internal purposes of both radicant and third-party providers.
11. Intellectual Property
All intellectual property rights shall remain with radicant or authorized third parties. For the term of the contractual relationship between You and radicant, You shall receive a non-transferable, non-exclusive right to use the radicant app and the radicant Banking Services. The content and scope of the services are set forth in the specific agreements between You and radicant.
12. Fees and expenses
The available services and the applicable fees are available in the radicant app and on https://radicant.com/pricing. radicant reserves the right to make changes and adjustments to the fees. You will be duly notified about said changes. If You do not object to the changes within 30 days from receiving the information, the changes will be deemed accepted.
radicant may charge expenses caused by You, such as costs incurred by radicant for seizures or court proceedings against You or potential costs related to the termination of the business relationship. radicant has the right to debit all related costs and fees directly from Your radicant bank account.
13. Third-party remuneration
radicant may receive compensation or other monetary benefits based on agreements with service providers (including affiliates of radicant) for radicant’s activities and related services. radicant will pass on such third-party compensation in full to You.
14. Rights of lien and set-off
radicant has, at any point in time, a right of lien for all of its current or future claims against You accrued or created in connection with the radicant Banking Services on and with respect to all currencies, assets, claims and other rights radicant holds for Your account, whether held by radicant or third parties. In the event of Your default, radicant shall be entitled to dispose of any assets over which it has a right of lien and may proceed to realize such assets by private sale including by way of acquiring for its own account.
radicant has the right to set-off any claims You may have against radicant with any claims radicant has against You, irrespective of the maturity dates of such claims or the currencies in which the claims are denominated. If amounts subject to claims are denominated in other currencies than Swiss franc, radicant will convert such amounts in its discretion using a conversion rate selected and deemed reasonable by radicant.
15. Liability
radicant’s obligations towards You are limited to the due performance of its services and contractual duties, and, where applicable, the due selection and instruction of third-party service providers, in accordance with the customary standard of due care in Swiss banking industry. Where such standards are not established, the standard of care of a reasonable business person apply.
Any further liability, e.g. for any loss or damage suffered in the absence of any breach by radicant of its applicable duty of care, is excluded. In the event of losses or damages due to a breach of radicant’s duty of care, radicant’s liability is limited to direct losses caused with intent or gross negligence.
Any liability of radicant for indirect or consequential losses (including loss of profit) is excluded. radicant is not liable for any loss or damage due to events or the materialization of risks outside its sphere of influence nor for any loss or damage caused or increased by You, in particular due to any failure on Your side to take measures to avoid, mitigate or reduce losses or damages.
radicant shall equally not be liable, to the extent permitted by law, for any losses or damages that occurred due to transmission errors, technical malfunctions or defects, unlawful interference with telecommunications equipment and networks, unauthorized access or interference with Your devices, overloading of the relevant IT systems or networks, deliberate blockage of electronic access by third parties, and interruptions including for system maintenance work.
radicant shall always endeavor to ensure unrestricted use and availability of the services provided but cannot assume guarantee for uninterrupted or error-free availability at all times. You acknowledge that access to the radicant Banking Services may be temporarily restricted for technical reasons (e.g. malfunctions, maintenance) or reasons beyond radicant's control (e.g. force majeure, third-party fault).
You shall indemnify radicant against all claims, including any claims for damages, asserted by other clients or third parties, including authorities, against radicant due to a breach of rights and obligations by You when using the radicant services. You shall be liable for any costs, including costs incurred for legal defense, incurred by radicant due to Your infringement of third-party rights. Further claims by radicant shall remain reserved in any case.
August 2023