1. Who we are
Levid (“Levid”, “we”, “us”, “our”) is Levid Technologies Limited, a company registered in England and Wales (company number 17412867), with its office at 61 Hersham Close, London SW15 4JQ, United Kingdom. Levid is also registered in Nigeria with the Corporate Affairs Commission (number 9692179). You can contact us at support@levid.io.
These Terms and Conditions (the “Terms”) apply to the Levid mobile app, the website levid.io and every service we make available through them (together, the “Services”).
2. Who can use Levid
To open a Levid account you must:
- be at least 18 years old and able to enter into a legally binding contract;
- live in a country we support, as shown in the app when you register;
- use Levid only for yourself, and not on behalf of anyone else; and
- pass our identity and eligibility checks, and those of our partners.
We may refuse to open an account, or limit the Services we offer you, where the law requires it or where we or our partners are not able to verify you to the standard required.
3. Your account and its security
You must give us accurate, complete and current information and keep it up to date. You are responsible for keeping your password, transaction PIN, device and any biometric sign-in secure. Never share them with anyone, including anyone who says they work for Levid. We will never ask for your password, PIN or one-time codes.
Tell us straight away at support@levid.io, or through the in-app chat, if you think someone else has accessed your account or your device has been lost or stolen. We may suspend your account to protect it.
4. Identity verification
Before you can send or receive money, we must verify your identity. You will be asked to photograph an identity document and take a short selfie video. Our identity verification providers check that the document is genuine and that the selfie matches it. We may also carry out sanctions, politically exposed person and fraud checks, and ask for further information, such as proof of address or the source of your funds. Our partner BVNK may carry out its own checks using the information you give us.
We may repeat these checks at any time, for example when your details change or when the law requires it. If we cannot verify you, we may refuse, suspend or close your account.
5. Our Services and our partner, BVNK
Levid provides the app, the website, customer support and the technology that lets you manage your money and instruct payments. The regulated services behind them, including holding your funds, currency conversion, digital-asset (stablecoin) services and making payments, are provided by BVNK, our payment partner.
- When you use these services, you also enter into an agreement with BVNK, and BVNK's terms apply to them. We will show you BVNK's terms, and ask you to accept them, before you first use these services.
- Your funds are held by BVNK, or by the institutions BVNK uses, and not by Levid.
- If BVNK's terms and these Terms conflict about a service BVNK provides, BVNK's terms apply to that service.
- Levid passes your instructions and the information needed to carry them out to BVNK, as described in our Privacy Policy.
6. Sending money
Before you confirm a payment, the app shows you the amount you send, the exchange rate, any fee, the amount your recipient receives and the expected delivery time. By confirming, you authorise the payment.
- Check your recipient's details carefully. If you give us incorrect details, we will try to help you recover the money, but we cannot guarantee it.
- Once a payment has been submitted it usually cannot be cancelled.
- Delivery times are estimates. Payments can be delayed by checks we or our partners must carry out, or by the recipient's bank.
- We or our partners may refuse or delay a payment if it may break the law, breach these Terms, involve fraud or financial crime, or exceed your limits. Where the law allows, we will tell you why.
- Limits on how much you can send apply to your account. The app shows the limits that apply to you.
7. Fees and exchange rates
Our current pricing is shown in the app before you confirm each payment. Where we do not charge a separate transfer fee, our price is included in the exchange rate we offer, which may differ from the mid-market rate. The rate shown when you confirm is the rate that applies to that payment. We will give you notice of any change to our fees as set out in section 14.
8. Important information about stablecoins
Some payments may be routed using stablecoins, which are digital assets designed to hold a stable value against a currency such as the US dollar or the euro. Where this happens:
- stablecoins are not legal tender, are not bank deposits and are not covered by the FSCS or by any deposit guarantee scheme;
- the value of a stablecoin can move away from the currency it tracks, and in rare cases its issuer could fail;
- transactions on a blockchain usually cannot be reversed; and
- these services are provided by BVNK under BVNK's terms.
9. AI features
Levid offers an AI assistant and an AI support chat. They can explain your account, answer questions and suggest actions. Please note:
- the AI can make mistakes. Its answers are general information, not financial, tax or legal advice;
- the AI cannot move money on its own. Any payment or change it suggests only happens if you review and approve it;
- before you first use these features, we ask your permission to send your messages, and the account information needed to answer them, to the AI providers we use. You can choose not to use them; and
- never share your password, PIN or one-time codes in a chat.
10. What you must not do
You must not use the Services:
- for money laundering, terrorist financing, fraud, sanctions evasion or any other illegal purpose;
- to receive or send money on behalf of someone else, or for a business, unless we have agreed this;
- to send payments relating to illegal goods or services, gambling, or anything prohibited by our partners;
- in a way that could damage, overload or interfere with the Services, or to try to gain unauthorised access to them; or
- with false or misleading information, or with an identity that is not your own.
We are required by law to report suspicious activity to the relevant authorities and may not be allowed to tell you when we do so.
11. Suspending or closing your account
You can close your account at any time in the app (Profile, then Delete account) or by emailing privacy@levid.io. You must first withdraw or send any remaining balance. Your account is suspended straight away; you can reactivate it by signing in within 30 days, after which it is closed and your personal details are deleted or anonymised, except for records the law requires us to keep.
We may suspend or close your account, or restrict a Service, with notice where we can give it, or immediately where the law requires it, where we suspect fraud or financial crime, where you seriously or repeatedly break these Terms, or where our partner can no longer provide its services to you. Where possible we will give you at least two months' notice before closing your account for any other reason.
12. Our responsibility to you
We will provide the Services with reasonable care and skill. We are responsible for loss you suffer that is a foreseeable result of our breaking these Terms or failing to use reasonable care and skill.
We are not responsible for loss caused by events outside our reasonable control, by your failure to keep your security details safe, by incorrect payment details you give us, or by services provided by BVNK, which are BVNK's responsibility under its terms. We are not liable for loss of profit or business opportunity, as the Services are for personal use.
Nothing in these Terms limits our liability for death or personal injury caused by our negligence, for fraud, or for anything else that cannot be limited by law, and nothing affects your statutory rights as a consumer.
13. Complaints
If you are unhappy, contact us through the in-app chat or at support@levid.io. We will acknowledge your complaint promptly and aim to give you a full answer within 15 business days. If your complaint is about a service provided by BVNK, we will pass it to BVNK, whose complaints procedure applies, and you may be able to refer it to the Financial Ombudsman Service or another dispute-resolution body once that procedure is complete.
14. Changes to these Terms
We may change these Terms, for example to reflect changes in the law, our partners or our Services. We will tell you about any change that affects you by email or in the app at least two months before it takes effect, unless the change is required sooner by law or is in your favour. If you do not agree, you can close your account free of charge before the change takes effect.
15. Other important terms
- We may transfer our rights and obligations under these Terms to another organisation. We will tell you, and this will not reduce your rights. You may not transfer your rights to anyone else.
- If a court finds part of these Terms invalid, the rest will continue to apply.
- If we do not enforce a right straight away, we can still enforce it later.
- These Terms are in English, and we will communicate with you in English unless we agree otherwise.
16. Governing law
These Terms are governed by the law of England and Wales, and the courts of England and Wales have jurisdiction. If you live in Scotland, Northern Ireland or another country, you keep the protection of any mandatory consumer laws that apply where you live, and you may bring proceedings in your local courts.
17. Contact us
Levid Technologies Limited, 61 Hersham Close, London SW15 4JQ, United Kingdom.
Support: support@levid.io · Legal: legal@levid.io · Website: levid.io