Status: February 14, 2023

Preamble

The following General Terms and Conditions apply to all frontends of the OWNLY platform (hereinafter “OWNLY,” “OWNLY platform,” or simply “platform”). Frontends are digital access channels to certain data sources, such as apps, web apps, or websites. Currently, the OWNLY platform’s frontends include the web app OWNLY Family. OWNLY Family enables the management of assets of multiple family members through a web app.

OWNLY offers users a comprehensive overview of their own assets, as well as additional digital family office services. For this purpose, it is necessary to store personal data from various sources, including banks, credit or bonus card providers, and information provided by the user themselves. Details are governed by the privacy information and policy for the use of the OWNLY platform.

The service provider of the platform, pursuant to § 2(1) of the Telemedia Act (TMG), is OWNLY FinTech GmbH, Hamburg (hereinafter also: “we,” “us,” “operator”).

The following sets out the conditions for the use of the OWNLY platform.

1. General Provisions and Scope

1.1. The legal relationship for the use of OWNLY between the operator and the user is governed exclusively by these General Terms of Use. Any conflicting general terms and conditions of the user shall not apply, even if the operator does not expressly object to them.

1.2. These General Terms apply to all services and content provided by the operator within the OWNLY platform. Excluded from this are the use of services or products from providers listed in the “OWNLY Club” section (hereinafter also: “OWNLY Club Providers”), which are provided by those OWNLY Club Providers. For these services, only the General Terms and Conditions used by the respective OWNLY Club Provider apply. Further details on the use of the OWNLY Club Providers’ services or products are regulated in section 3.6 of these General Terms of Use.

1.3. Use of the OWNLY platform is permitted exclusively to consumers as defined by § 13 BGB. A user is a consumer if the purpose of the use of the OWNLY platform is not primarily attributable to their commercial or self-employed professional activity.

1.4. These Terms and Conditions, in their current version, can be read within the respective frontends and before registration. The operator is entitled to change the Terms and Conditions at any time with effect for the future. Changes to the Terms and Conditions will be made available to the user through an update of the frontends or the respective applications, accompanied by a notice of the changes. Alternatively, users may also be informed of changed Terms and Conditions via email sent to the address used on the platform. In this case, the user will be informed of the changes at least 14 days before the new Terms and Conditions come into effect. The user has 14 days to object to the amended Terms and Conditions. If they do so, their access to the platform will be deleted. The operator will inform the user of this consequence in the notification of the change.

2. Registration and Conclusion of Contract

2.1. The use of OWNLY Family is enabled through registration on the website https://familyweb.ownly.de/.

2.2. Registration is also required to use OWNLY Family. However, access is via the internet without the need to install an app. For this, the user must enter their name, email address, mobile phone number, and a password. Registration may only be completed by the user personally and not on behalf of third parties. Upon successful registration by the user, a contractual relationship is established between the operator and the user, and these General Terms of Use become part of that contract.

2.3. (omitted)

3. Use of the OWNLY Platform

3.1. The OWNLY platform enables the user to automatically display (financial) information from their connected banks (German accounts of any kind, loans, etc.), credit card and bonus card companies (to the extent such information is available via the user’s online banking), as well as other asset classes such as real estate or precious metals (hereinafter: “assets”) using the OWNLY platform’s interfaces. Users may also insert the contact information of their respective bank advisor and use other digital services. Selected assets are evaluated by the operator for inclusion in the asset overview. The asset overview is divided into account data and assets. Furthermore, from that point on, transactions from the user’s respective bank account are displayed in the account overview.

3.2. To use the OWNLY platform’s services connected to the asset overview (account balance, portfolio values, total asset overview, etc.), the user must enter the necessary data, such as user ID and bank code, or manually add other assets. The account data and asset information is encrypted and stored on a secure server in Germany in accordance with applicable data protection laws and the OWNLY platform’s privacy policy.

3.3. The user can decide whether to store the PIN (or equivalent login information) of their bank account on the servers used by the operator in Germany. This way, they do not need to enter the PIN again with each use of the OWNLY platform. In this case, the respective frontend automatically retrieves the user’s account information through their bank’s online banking interface (e.g., HBCI, FinTS), so that it can be displayed in the user’s personal asset overview. The operator uses the service of finleap connect GmbH, Hamburg (formerly figo GmbH, hereinafter also: “finleap connect”) for this retrieval. The terms and privacy policies of finleap connect apply in addition. The option to store the PIN with finleap connect is disabled when the app is launched for the first time. Whether or not to use this function is up to the user. In particular, the user is responsible for ensuring that storing the PIN is allowed under the terms of their bank account.

Depending on the technology of the individual bank, a second factor such as an SMS TAN is often required. This must also be entered to access the online banking data.

3.4. The user can download information about their total assets as a PDF directly from OWNLY Family.

3.5. Users can archive specific account transactions (e.g., payments) in so-called tax folders or a tax archive according to their preferences. This archiving feature allows tax-relevant transactions to be assigned to the income categories permitted under German income tax law and to be archived for as long as the user uses the platform under these Terms. The user can download the data from their tax archive as a PDF.

3.6. Integration of OWNLY Club Partners

The use of services or products from individual OWNLY Club providers is possible in two ways. Firstly, these providers are listed in the “OWNLY Club” section and can be accessed via an external link. Clicking this link will take the user away from the platform to an external website in their browser, where they enter the necessary data (hereinafter also referred to as “External OWNLY Club Partners”). Secondly, the user can request further information on financial products from connected providers via the respective frontends. If the user wishes to receive further information on financial products, they consent to the transfer of their name and contact details (email and, if applicable, mobile phone number) to the provider. OWNLY merely forwards this information request. No brokerage or advisory services are provided to the user.

Finally, the services or products of certain providers listed in the “OWNLY Club” section of the platform may also be directly accessible via the OWNLY platform (hereinafter also referred to as “OWNLY Club Partners”). For this purpose, the data required for use must be entered directly in the respective frontend. It is at the operator’s discretion to include further OWNLY Club providers in the “OWNLY Club” section, to modify existing ones, or to remove them from the platform. It is the user’s own decision whether or not to use the services or products of individual OWNLY Club providers. The integration of OWNLY Club providers on the platform is a voluntary additional service to which the user has no entitlement and which the operator can discontinue at any time.

3.7. (omitted)

3.8. Property Valuation

Within the overview of the real estate assets entered by the user in the OWNLY platform, the user may receive a non-binding indicative estimate of the value of their property based on statistical data on rental and square meter prices in Germany.

3.9. Rights of Use and Updates

By agreeing to these General Terms and Conditions of Use for the OWNLY Platform, the user receives, for the duration of the contract, a simple, non-exclusive, non-transferable, and non-sublicensable right to use the respective frontends in their current version. This granting of the right of use serves exclusively to enable the user to use the services provided on the OWNLY Platform in accordance with these General Terms and Conditions of Use. The user is not entitled to reproduce, modify, distribute, sell, rent, or otherwise allow third parties to use any part of the services or information of the OWNLY Platform or the software contained therein. Furthermore, the user may not reverse engineer the software underlying this platform or attempt to extract its source code. This shall only not apply if there are legal exceptions or if the user has separate written consent from the operator. The user is also not entitled to use any names and trademarks of the operator or the OWNLY Platform for themselves or third parties in any way, nor are any rights granted to them in this regard by this agreement. The operator or its vicarious agents regularly update the software of the OWNLY Platform to change its functional scope or to improve the security of the OWNLY Platform (hereinafter also referred to as “Update”). The corresponding update is carried out directly in OWNLY Family. However, the user has no claim to regular updates. Likewise, the user has no claim to the permanent and unchanged use of the OWNLY Platform. The operator is therefore entitled at any time to change the services or products offered on the OWNLY Platform.

3.10. Availability

The operator guarantees a minimum availability of the OWNLY Platform of 95% on an annual average. This excludes downtimes due to necessary maintenance work, updates, force majeure, the user’s fault, or other circumstances for which the operator is not responsible. Availability is owed up to the transfer point. The transfer point is the router output of the operator’s data center.

4. Obligations and Responsibility of the Operator

4.1. The operator is not responsible for the accuracy and completeness of the user’s account data, including the transactions contained therein, transmitted by the bank or other institutions, as well as for the account data and assets entered by the user. However, the operator is responsible for ensuring that this data is secured against access by unauthorized third parties on the operator’s own servers or those of third-party providers engaged for this purpose, in accordance with the state of the art.

4.2. The operator assumes no responsibility for ensuring that all connected banks enable the retrieval of the user’s account data at all times. This also applies to other information that the platform receives from third-party providers.

4.3. (temporarily free)

4.4. Regarding the External OWNLY Club Partners, the operator merely offers the user the possibility to access the website of the External OWNLY Club Partners.

4.5. Regarding the OWNLY Club Partners, the operator is only responsible for the transmission of the data entered by the user and required for the use of the services or products of the OWNLY Club Partner. The operator does not guarantee the actual possibility of using the services or products of the OWNLY Club Partner and the accuracy of the user’s entered data.

4.6. The operator assumes no responsibility for the content and offers of the services or products of the individual OWNLY Club providers.

4.7. The operator is not responsible for the accuracy of the information from third-party providers in the OWNLY Library or OWNLY Capital Markets sections.

4.8. The operator does not guarantee that the non-binding indicative estimate of the value of the user’s property, as requested by the user and carried out on the OWNLY Platform, corresponds to the market value of the property and that this value can actually be achieved upon sale.

4.9. The operator is not responsible for ensuring that all account data and assets, as well as the associated asset overviews, are permanently available. However, it stores the user’s data to the extent required by law.

4.10. The operator is responsible for rectifying disruptions to the use of the platform that fall within its area of responsibility within a reasonable time.

5. Obligations and Responsibility of the User

5.1. The user may only use the OWNLY Platform to the intended extent and may not modify it, its source code, or the associated services or products.

5.2. The user undertakes to enter all data required for registration completely and truthfully and to immediately update any changes to this data in the OWNLY Platform or the respective frontends. Furthermore, the user is obliged to register only under one username and not using multiple usernames simultaneously.

5.3. The user is responsible for ensuring that the account data and assets entered by them in the OWNLY Platform are complete and accurate. Based on this information, the operator creates information and overviews of the development and composition of the user’s assets using graphs and key figures. The operator is therefore only responsible for the correct presentation of the data entered by the user, but expressly not for the accuracy and completeness of the entered account data and assets.

5.4. The user is obliged to keep their username and password secret and to protect them from access by third parties. In addition, the user is obliged to immediately report any recognizable malfunctions to the operator and to support the operator in the error analysis and troubleshooting by precisely describing the problems that occur, providing the operator with comprehensive information, making necessary data available, and allowing a reasonable amount of time for troubleshooting.

5.5. (temporarily free)

5.6. The user is solely responsible for the respective allocation of their items in the so-called tax folders or a tax archive. An automated allocation by the operator does not take place.

5.7. When using the External OWNLY Club Partners, the user is responsible for entering and transmitting the data required for the use of the services or products to the External OWNLY Club Partner themselves.

5.8. Regarding the use of the services or products of the OWNLY Selection Partners, the user is responsible for the completeness and accuracy of the data entered and required for this purpose.

5.9. (omitted)

5.10. (omitted)

5.11. The user is responsible for establishing the technical prerequisites of their computer or tablet for the use of the platform and for ensuring a suitable internet connection. The costs for this are borne exclusively by the user.

5.12. If the operator has reasonable suspicion that the user has materially violated the obligations incumbent upon them under this contract or due to legal requirements, or if such a violation has already occurred, the operator is entitled to partially or completely block the user’s access to the OWNLY Platform – even without prior notice – until the user provides proof of the lawfulness of their use.

6. Warranty

6.1. The operator warrants that the OWNLY Platform complies with recognized technical standards and is free from defects that negate or reduce its value or suitability for ordinary use or the use intended under the contract. An insignificant reduction in usability shall be disregarded.

6.2. The warranty is excluded for any impairment of the functionality of the OWNLY Platform that is due to incorrect operation by the user or improper environmental conditions on the user’s part.

6.3. If a third party claims that the contractual use of the OWNLY Platform infringes their rights, the user is obliged to inform the operator of this immediately in writing.

7. Liability

7.1. Claims of the user for damages are excluded. This excludes claims for damages by the user resulting from injury to life, limb, or health, or from the breach of essential contractual obligations (obligations whose fulfillment is essential for the proper execution of the contract and on whose compliance the contractual partner regularly relies and may rely), as well as liability for other damages based on an intentional or grossly negligent breach of duty by the operator, its legal representatives, or vicarious agents.  

7.2. In the event of a breach of essential contractual obligations, the operator shall only be liable for the typical, foreseeable damage if this was caused by simple negligence, unless it concerns claims for damages by the user resulting from injury to life, limb, or health.  

7.3. The limitations of clauses 7.1 and 7.2 shall also apply in favor of the legal representatives and vicarious agents of the operator if claims are asserted directly against them.

7.4. (temporarily free)

7.5. The provisions of the Product Liability Act remain unaffected.

8. Remuneration

8.1. OWNLY Family costs EUR 29 per month after a 7-day trial period. The operator may waive or reduce the price for advertising purposes. Payment processing is carried out via a payment processor, whose General Terms and Conditions apply additionally.

8.2. The user can only offset claims of the operator if their counterclaims are undisputed or legally established. The user can only exercise a right of retention if the counterclaim is based on the same legal relationship.

8.3. OWNLY FinTech GmbH processes all payments via external payment service providers, namely Stripe. The user agrees that OWNLY FinTech GmbH may only accept payments via this service provider, or that the respective service providers may debit the amounts incurred.

9. Cancellation Policy

9.1. With the conclusion of this contract and the associated paid monthly subscription fee, the operator provides the user with digital content for use. In this case, the user has a statutory right of withdrawal, about which the operator informs them below in accordance with the statutory model.

9.2. Right of Withdrawal

You have the right to withdraw from this contract within fourteen days without giving any reason.

The withdrawal period is fourteen days from the day of the conclusion of the contract.   

To exercise your right of withdrawal, you must inform us (OWNLY FinTech GmbH, Gertrudenstraße 9, 20095 Hamburg, Germany, email: widerruf@ownly.de) by means of a clear statement (e.g., a letter sent by post, fax, or email) of your decision to withdraw from this contract. You can use the attached model withdrawal form, but this is not mandatory.   

To meet the withdrawal deadline, it is sufficient for you to send your notification of exercising your right of withdrawal before the withdrawal period has expired.   

9.3. Consequences of Withdrawal

If you withdraw from this contract, we shall reimburse to you all payments received from you, including delivery costs (with the exception of the additional costs resulting from the fact that you have chosen a type of delivery other than the cheapest standard delivery offered by us), without undue delay and in any event not later than fourteen days from the day on which we are informed about your decision to withdraw from this contract. For this repayment, we will use the same means of payment that you used in the original transaction, unless expressly agreed otherwise with you; in no case will you be charged fees for this repayment.   

9.4. Expiry of the Right of Withdrawal

The right of withdrawal expires in the case of a contract for the delivery of digital content not stored on a physical data carrier even if the entrepreneur has begun with the execution of the contract after the consumer

9.4.1. has expressly agreed that the entrepreneur begins with the execution of the contract before the expiry of the withdrawal period, and   

9.4.2. has confirmed their knowledge that they lose their right of withdrawal by giving their consent with the start of the execution of the contract.

9.5. Model Withdrawal Form

(If you want to withdraw from the contract, please fill out this form and send it back.)

— To OWNLY FinTech GmbH, Gertrudenstraße 9, 20095 Hamburg, Germany, email: widerruf@ownly.de: — I/We () hereby withdraw from the contract concluded by me/us () for the purchase of the following goods () / the provision of the following service () — Ordered on () / received on () — Name of the consumer(s) — Address of the consumer(s) — Signature of the consumer(s) (only for notification on paper) — Date   

(*) Delete where inapplicable   

10. Term

10.1. The contract between the user and the operator for the use of the app is concluded for an indefinite period.

10.2. The user can request the deletion of their OWNLY user account at any time and thereby terminate the contractual relationship with the operator. The deletion of the OWNLY Family user account is done by sending the corresponding request to contact@ownly.de. This will delete all of the user’s data or – if deletion is not possible for technical or legal reasons – block it. This data cannot be recovered in the future if the user registers again.

10.3. The contractual relationship between the user and the operator can be terminated by either party at any time with immediate effect and without giving reasons. A written declaration by email or verbally is required for this. In addition, the contract ends if the operator permanently discontinues the platform or one of the frontends. In the event of termination by the user, the obligation to pay the license fee for the current calendar month ends. If the operator terminates the contract, the operator will refund the license fees prepaid for the subscription for the prepaid period, provided that the contract is terminated before the expiry of this period.

10.4. The right to terminate for good cause remains unaffected.

10.5. (omitted)

10.6. (omitted)

11. Support

11.1. The operator offers the user support in using the OWNLY Platform.

11.2. The user can contact support at any time via contact@ownly.de.

12. Data Protection

12.1. The protection of the user’s data has the highest priority for the operator, as this is the only way to build trust in the operator and the platform.

12.2. In this respect, reference is made to the data protection information and declaration on the use of the platform, which can be accessed on the website www.ownly.de, www.family.ownly.de, or in OWNLY Family.

13. Final Provisions

13.1. The law of the Federal Republic of Germany shall apply to these General Terms and Conditions of Use for the OWNLY Platform and the entire contractual relationship between the user and the operator, excluding the UN Convention on Contracts for the International Sale of Goods.

13.2. Should individual provisions of these General Terms and Conditions of Use for the OWNLY Platform be invalid, this shall not affect the validity of the remaining provisions. The operator and the user will endeavor to find a provision that comes closest to the legal and economic purpose of the contract in place of the invalid provision.