An overview of the terms that govern your Settled business account: who can apply, how the account may be used, the fees that apply, where responsibility sits and how the relationship can end.
These terms and conditions ("Terms") set out the agreement between you and Settled Ltd for the provision of your business account and related payment services. They give you a plain overview of the relationship. The full contractual terms accepted during onboarding take precedence where there is any difference.
Last updated: 1 June 2026 ยท Version 1.0
Settled Ltd is a company registered in Malta with its registered office in the Central Business District, Birkirkara, Malta. Settled Ltd is authorised and regulated by the Malta Financial Services Authority (MFSA) as a financial institution under the Financial Institutions Act (Cap. 376 of the Laws of Malta) and is passported to provide its services across the European Union and European Economic Area.
Settled accounts are provided to businesses, not to consumers. To open and keep an account you must:
We may decline an application, or request further information at any time, without being obliged to give a reason where the law prevents us from doing so.
Once your account is open you can hold balances in multiple currencies, receive and make payments through SEPA, SEPA Instant and SWIFT, convert currencies, and issue virtual and physical Visa Business cards within the limits of your plan.
You agree to use the account only for legitimate business purposes and in accordance with these Terms and all applicable laws. You are responsible for everything done by anyone you authorise to access the account, and for keeping login credentials, devices and security details safe.
You must not use the account for any illegal, fraudulent or prohibited activity, to facilitate money laundering or terrorist financing, to breach sanctions, or for any business or transaction that we have notified you we cannot support. We may refuse, suspend or reverse any transaction we reasonably believe breaches these Terms or the law.
A payment instruction is treated as authorised once you confirm it using the agreed security steps. We will execute authorised payments within the timeframes required by applicable law and the relevant payment scheme. We may apply limits, additional checks or short delays where this is necessary to comply with our legal and regulatory obligations or to protect you and us from fraud.
The subscription, payment, foreign-exchange and card fees that apply to your account are set out in our Schedule of Fees, which forms part of these Terms. Internal Settled-to-Settled transfers are free. We will tell you in advance of any change to the fees in the manner described in your full account terms.
For the current list of charges, please see the schedule of fees.
We take care to provide a reliable, secure service, but we cannot guarantee that the service will always be uninterrupted or error-free. To the fullest extent permitted by law, we are not liable for losses that are not a foreseeable result of our breach, for loss of profit, business or opportunity, or for events outside our reasonable control. Nothing in these Terms excludes liability that cannot be excluded under the law, including liability for our own fraud. Where an unauthorised or incorrectly executed payment occurs, your rights are those set out in applicable payment-services law.
You may close your account at any time by giving us notice and settling any outstanding balance or fees. We may suspend or restrict access to the account, and ultimately close it, where we are required to do so by law, where we reasonably suspect fraud, unauthorised or prohibited use, where you breach these Terms, or where we are no longer able to provide the service. Wherever possible we will give you reasonable notice; where we cannot, we will tell you as soon as we are permitted to do so. On closure we will return any remaining balance to a verified account in your name, subject to our legal and regulatory obligations.
We may update these Terms from time to time, for example to reflect changes in law, regulation, our services or how we operate. We will give you advance notice of material changes through the app, by email or by another durable means, and tell you when they take effect.
If something goes wrong, we want to put it right. You can raise a complaint at any time and we will handle it in line with our published procedure. If you are not satisfied with our final response, you may be able to escalate the matter to the Office of the Arbiter for Financial Services in Malta. See our complaint procedure for full details.
These Terms and your account are governed by the laws of Malta. Any dispute relating to them will be subject to the jurisdiction of the courts of Malta, without prejudice to any mandatory rights you may have under applicable law or any right to refer a complaint to the Office of the Arbiter for Financial Services.
Our team is happy to walk you through anything in this overview, or to point you to the full contractual terms for your account.