A. General Provisions
1. Common provisions
These terms govern your application for a Tantum account or the use of a Tantum account and the Tantum services. Please read the terms carefully before using the services. Use without acceptance is not permitted.
2. Conclusion of contract
By clicking "I agree" you accept all terms, policies, and notices. Previous versions are available at tantumpay.com/en/terms.
3. Definitions
The terms defined in this chapter apply, including AML, accepted assets, transactions, e-money, payment services, Tantum services, Tantum app, and Tantum account.
4. Contact information and feedback
Tantum AG, Landstrasse 114, 9495 Triesen, Principality of Liechtenstein. Email: info@tantumpay.com. You may submit feedback; Tantum is entitled to collect and use this feedback.
5. Notices and communications
Notifications take place via the electronic mailbox, the website, the app, by email, postal mail, telephone, or SMS – in German or English.
6. Determinations
Tantum makes determinations at its sole discretion, with no obligation to provide reasons.
7. Registration and eligibility
Eligibility to open a Tantum account requires:
- Residence in an eligible country
- Minimum age of 18
- Not being a US person and not on sanctions lists
- Acting on your own behalf
When opening an account with us, you must represent and warrant that you are not acting on behalf of or for the benefit of another person.
8. User obligations
The user must keep their data accurate, protect account security, inform Tantum of changes, not reuse passwords, and report unauthorised access without delay.
9. Account information and user content
The Tantum services do not provide a feature to create or share content between users.
10. Right to feedback
Tantum may collect and use the feedback you provide.
11. Use of customer information by Tantum
Data processing is carried out in accordance with the GDPR and Liechtenstein data protection law. Details: see Privacy Policy.
12. Dormant accounts and inactivity fee
Accounts that have been inactive for more than 12 months will be charged an inactivity fee of EUR 8 per month from the 13th month onwards – deducted from the available balance.
13. Prohibited use of the Tantum services
The following are prohibited in particular:
- Fraud, illegal acts, harassment
- Infringement of IP rights
- Reverse engineering
- Unauthorised API use and automated access
- Wilful damage to other users, Tantum, or affiliated companies
14. Right of withdrawal
Consumers have a 14-day right of withdrawal from the conclusion of the contract under FernFinG (remote financial services act).
15. General rights of Tantum
Tantum's transaction records are binding. Tantum is subject to AML, CFT, and KYC obligations.
16. Disclaimers, indemnification, and liability
Tantum is not liable for merchant rejection, terminal malfunction, software failure, access to external applications, credit damage, or breaches of instructions. Liability for ordinary negligence is excluded.
17. Force majeure
Force majeure excuses non-performance by Tantum.
18. Term of the contract
The contract is concluded for an indefinite period. Users may terminate at any time without notice. Tantum gives two months' notice – or terminates without notice in special cases.
19. No waiver
The non-exercise of rights does not constitute a waiver.
20. Confidentiality
Tantum employees are bound by statutory confidentiality obligations.
21. Transferability
Accounts are not transferable without Tantum's written consent.
22. Intellectual property rights
Users receive no IP rights. Tantum retains all copyright, trademark, and API rights. The Tantum app's API is Tantum's copyright-protected technology.
23. Outsourcing of business areas
Tantum may outsource services to subsidiaries or third parties globally – with equivalent confidentiality and data-protection levels.
24. Business hours
Standard business hours: Monday to Friday, 09:00–12:00 and 14:00–17:00.
25. Language
German and English govern interpretation; the English version controls in case of conflicts.
26. Severability
Invalid provisions don't affect the remaining provisions; the parties shall negotiate in good faith a substitute provision that reflects the original intent.
27. Applicable law and jurisdiction
Liechtenstein law applies. The place of jurisdiction is Liechtenstein – subject to mandatory consumer protection provisions.
B. Provisions for Payment Services (TantumPay)
1. Common provisions
1.1 Supervisory authority
Tantum AG is licensed by the Liechtenstein Financial Market Authority (FMA) under the E-Money Act (EGG).
1.3 Payment services
The services include payment execution, direct debits, transfers, and the issuance of payment instruments.
1.4 Execution & rejection
Tantum processes instructions with due diligence. Rejection occurs in particular if there are insufficient funds or if information is incorrect; you'll be informed via the electronic mailbox.
1.7 Fees
The fees are listed in Annex 2. Additional fees may apply on the basis of actual costs.
1.10 Changes
Changes are announced at least 2 weeks in advance. Silence is deemed consent; a free right of termination exists until the changes take effect.
2. Domestic and EEA payments
2.1 Use restrictions
Tantum may block payment instruments for security or fraud reasons – with appropriate notification.
2.2 Execution timeframes
Maximum execution: 4 business days for EEA payments. Forwarding takes place by the end of the next business day.
2.6 Security measures, liability, and refunds
- 2.6.1 Obligations: proper use, immediate loss/theft notification. Non-consumers are liable for damages caused by negligence.
- 2.6.3 Reporting deadlines: 13 months for consumers, 30 days for non-consumers.
- 2.6.5 Refund: Tantum refunds unauthorised payments by the end of the next business day.
- 2.6.6 Deductible: up to EUR 50 in case of loss/theft – full liability for gross negligence or wilful intent.
2.8 Refunds for payment transactions
With the TantumPay chargeback function you may be entitled to a refund of the full purchase price – in particular for "goods not received" and "goods not as described". The complaint deadline is 8 weeks; processing takes 10 business days.
3. Validity
These provisions are effective from 12 February 2024.
C. Provisions for Electronic Payment Services (TantumPay)
1. Service offering
The Tantum app provides access to portfolio information and payment instructions over the internet via secure identification. Services are available 24/7; outside business hours no support is guaranteed.
2. Access
Required: username or phone number, password/PIN, and two-factor authentication (mobile phone + PIN).
3. Use authorisation
Only registered, verified persons may execute transactions. Fees per Annex 2.
4. Identification
Correct identification constitutes authorisation; all instructions are legally binding. Revocation of a power of attorney immediately terminates access.
5. User duty of care
Users must prevent misuse, protect access credentials, keep passwords confidential, change passwords on suspicion, and lock the account if necessary.
6. Execution of instructions
The electronic services are available 24/7 – without a guarantee of unrestricted access. The user bears the risk of incorrect or incomplete input.
7. Access blocking
A block can be requested during business hours; lifting it requires a written instruction. Tantum blocks after repeated incorrect entries or at its own discretion for appropriate reasons.
8. Liability disclaimer
Tantum is not liable for losses or damages arising from the use of the infrastructure – in particular not for indirect damages.