These Terms govern your use of the services offered by Nedsom Financial Services B.V. ("Nedsom Bank"), a B.V. incorporated under Dutch law (Chamber of Commerce 32088878) with registered address at Kamp 71, 3811AP Amersfoort, Netherlands, licensed by De Nederlandsche Bank (DNB) as a Payment Institution (Licence F0019, LEI 724500TC6IMCMZAZMO28). By registering or using our services you accept these Terms. The original version of these Terms is made in Dutch; in the event of any inconsistency the Dutch version prevails.
1. Who can use the service
You must be at least 18 years old and a legal resident of the European Economic Area (EEA). You may open only one account unless we have agreed in writing to additional accounts. You must act on your own behalf and confirm that neither you nor any recipient is subject to sanctions imposed by the EU, the UN or the US, and that you will not use our services for any illegal purpose, including money laundering, terrorist financing or fraud. If you are a politically exposed person (PEP) you must notify us in writing.
2. Service description
Nedsom Bank provides digital banking services: multi-currency accounts, debit and virtual cards, SEPA and SWIFT international transfers, and crypto wallet operations. Services operate 24/7 but may be limited due to failure in our systems or a partner's systems or during technical maintenance. We bear no liability for transaction execution failures during such restrictions.
3. KYC and transaction instructions
By law we must identify you before providing services. You must provide a valid government-issued ID and, for business accounts, incorporation documents and ultimate beneficial owner (UBO) details. You must keep your information current. You are responsible for ensuring that transaction details (recipient name, amount, reference) are entered correctly — we are not responsible for errors in information you provide.
4. Your responsibilities
• Keep your login credentials, passwords and devices secure at all times.
• Report any suspected unauthorised access to your account immediately.
• Comply with these Terms, applicable laws and specific instructions we give.
• Review completed transactions for inaccuracies.
• Use the services for lawful personal purposes only.
5. Fees and exchange rates
Our commission and the applicable exchange rate are shown inside the app before you approve each transaction. Rates may change with immediate effect; the exact figures that apply to your transaction are those displayed at the moment of approval. We are not responsible for taxes, bank fees or telecommunications charges that we do not levy.
6. Our commitments and liability
We provide our services with reasonable care but we are not obligated to process every transaction. We may refuse, suspend or cancel transactions, impose limits, request additional information or delay execution to comply with applicable law or to verify identity. We disclaim responsibility for loss resulting from force majeure, government action, war, strikes, outages at third-party partners or other unusual and unpredictable circumstances beyond our reasonable control.
7. Amendments
We may change these Terms with at least two (2) months prior notice. During this period you may terminate your account immediately; silence indicates acceptance. Commission and exchange rates may change with immediate effect and without prior notice, although the exact figures that apply to your transaction are displayed before approval.
8. Termination
You may terminate your account on one (1) month written notice; we require two (2) months. We may block or terminate your account without notice if you breach these Terms, use the services unsafely, if we are required to do so by law, or if we suspect fraud, money laundering or terrorist financing.
9. Intellectual property
All content on our website and inside the app, including trademarks, logos, text, graphics and software, is the property of Nedsom Financial Services B.V. or its licensors. See our License Agreement for the full terms of your right to use our software and services.
10. Complaints
Written complaints should be sent to support@ned-som.com. We confirm receipt within 7 working days and investigate within 14 working days. If you remain unsatisfied you may escalate to Kifid (Dutch Financial Services Complaints Institute).
11. Governing law and jurisdiction
These Terms are governed by and construed in accordance with Dutch law. Any disputes shall be subject to the exclusive jurisdiction of the competent courts of Netherlands, without prejudice to mandatory consumer-protection rules.
Questions?
Write to support@ned-som.com — we will be happy to help.
This document is published in multiple languages. In case of discrepancy, the English version prevails.