NOAH Application Terms & Conditions

The below agreement refers to Noah Savings (UK) Ltd and Noah Savings UAB (hereinafter “NOAH”, “we”, “us” or “our”). Noah Savings (UK) Ltd, company incorporated and registered in the United Kingdom, with registered company number 13100652, whose registered office is at Eighth Floor 6 New Street Square, New Fetter Lane, London, United Kingdom, EC4A 3AQ. Noah Savings UAB is a subsidiary registered and regulated as Virtual Asset Service Provider (”VASP”) in Lithuania with company registered number 306069935.

1. NOAH

All NOAH services offered through the NOAH web application (“NOAH Application”) are offered by the Noah Savings UAB. You acknowledge that by accepting and continuing to use NOAH Application and NOAH services, you agree to be bound by these terms and conditions.

2. This Agreement

These terms and conditions (“T&Cs”) will apply to your use of the NOAH Application. These T&Cs constitute a legal agreement between you and Noah Savings UAB (unless otherwise specified) and govern your access to and use of the NOAH Application as well as the website.

3. The NOAH Application

The NOAH Application is a non-custodial wallet (“NCW”), meaning in ordinary circumstances you are solely in control of your Digital Assets.

The NOAH Application provides the following services (collectively, the “Services”):

(a) receive from and send Supported Cryptoassets to other recipients;

(b) buy and sell Digital Assets;

(d) enable you to authorise transfer of Supported Cryptocurrencies with the passcode (PIN) you set, facilitate the submission of Supported Cryptocurrencies transaction data to the relevant blockchain networks (“Third-Party Blockchain Networks”);

(e) earn rewards (”Rewards”) as per Clause 11.

4. NOAH Buy & Sell

The NOAH Buy & Sell T&Cs constitute a legal agreement between you and Noah Savings UAB.

The NOAH Buy & Sell offers fiat-to-crypto and crypto-to-fiat brokerage services through Noah Savings UAB. You can buy and sell a supported Digital Asset using your fiat balance. Once the transaction is initiated you will not be able to cancel it.

You will be required to undergo a full Know Your Customer (KYC) check prior to using NOAH Buy & Sell. We will need to confirm your identity, your residency and address. You will also be required to answer few questions related to the purpose and intended nature of the your business relationship with NOAH.

You can also, choose to set up a recurring buy, reoccurring transaction between fiat and Digital Asset. You can cancel the recurring buy transactions at any point until the designated time/s and date/s of the recurring transactions. In the unlikely event recurring buy transactions may not be executed in times of degraded service or technical issues. In these instances, NOAH will not be liable for any losses incurred on the transactions that were not executed. Recurring buy transactions will be executed at the next available point of the service and will be executed at the rate available to us at the time.

Some initiated transactions may take up to 48 hours to process, this is due to the compliance checks conducted by NOAH and our banking partners.

You cannot purchase cryptocurrency using someone else’s bank account/debit/credit card, you will have to use a bank account/card under your name. Any attempt to circumvent these controls may result in the suspension or termination of your NOAH Account.

If your account is closed (please refer to Suspension, Termination and Cancellation for further information), any Digital Assets remaining in your NOAH Account after closure will be either traded for Fiat and transferred to your nominated bank account or crypto address. If you have any outstanding fees, we will deduct these from the balance in your NOAH Account prior to transferring. Our standard rates will apply to any transactions undertaken by us to effect closure of your NOAH Account and we will not be liable to you for any losses resulting from the timing of such transactions.

If you do not have a nominated bank account, you should contact us in order to request withdrawal of any remaining funds after the closure of your NOAH Account. We may require you to provide further information in order to establish your identity and entitlement for the remaining balance.

5. Referral Terms & Conditions

This section sets out the terms and conditions that apply to the NOAH Referral Program (the “Referral Program”). Under this program, the referrer (“You”) and the referee (the “Referred User”) are both eligible to receive a reward paid in NOAH Points (“NP”).

By creating an account with NOAH you accept these terms, along with all other relevant terms and conditions. Do not participate in this program if you do not wish to be bound by these terms.

Please read these Terms carefully and ensure you understand them before you refer a friend to us. You and the Referred User must accept these before you sign up to NOAH.

The Referral Program is void where prohibited by law.

The Referral Program is open to anyone who has registered with NOAH.

The Referred User must not have a NOAH account.

NOAH reserves the right to refuse to pay out any NP if:

a) We reasonably suspect that the NOAH account has been created by the Referred User fraudulently or the Referred User’s account is otherwise in breach of our Terms and Conditions;

(b) You have breached any provision in these Referral Program Terms or our Terms and Conditions;

(d) We reasonably suspect that you have used any pay-per-click or other paid or automated lead generation services to participate in the Referral Program; or

(e) We reasonably suspect that you have sent any unwanted or unauthorised advertising or promotional material or any other form of similar solicitation (spam) in relation to our Referral Program.

6. Your obligations

You must only use the NOAH Application on your own behalf, and must not undertake any activity, or store any Digital Assets in your Account, on behalf of a third party.

You must not use the NOAH Application in a way that is unlawful or that breaches the rights of any third party or is otherwise defined in this Agreement as prohibited conduct (“Prohibited Conduct”). You can see what we consider Prohibited Conduct in our Glossary.

You are responsible for maintaining the security of any information, hardware, service or other means of verification used to authenticate your identity on the NOAH Application (“Security Factors”). You must not share your Security Factors with anyone, even if you think that person works for us, and you must tell us immediately if you think that anyone may be able to access your Account unlawfully, either because one or more of your Security Factors has been compromised, or for any other reason.

You are responsible for installing updates to the NOAH Application as soon as they become available for your device.

7. Onboarding

By signing up for the use of the NOAH Application, you represent and warrant that:

You are at least eighteen (18) years of age;
You have the full right, power, and authority to agree to these T&Cs;
You are not a resident or Tax resident of, and do not otherwise have any relevant connection with, any jurisdiction in which entry into or performing your obligations under these T&Cs is unlawful or restricted in any way or requires licensing, registration or approval of any kind;
You are not impersonating any other person, operating under an alias or otherwise concealing your identity;
You will not use the NOAH Application if any applicable laws in your country prohibit you from doing so in accordance with these T&Cs; and
You are compliant with all Applicable Law requirements to which you are subject, including without limitation, all tax laws and regulations, exchange control requirements and registration requirements.

During the onboarding stage, you will be asked to provide your name and email address.

8. Restricted Regions

NOAH services are not available in certain regions listed in our FAQs under Is NOAH available in my region? By agreeing to NOAH’s T&Cs, you agree that you will not attempt to access NOAH services from the listed restricted regions.

We reserve the right to suspend your account if we suspect that you are in breach of this agreement.

9. Your information

You agree to, at all times, cooperate with all requests made by us or any of our third-party service providers on our behalf in connection with your use of the NOAH Application .

Failure to provide up to date information may result in your inability to or adversely affect your use of the NOAH Application.

Upon the knowledge of any changes to the information on your Account, you must notify us. NOAH may ask further supporting evidence related to your ongoing use of the NOAH Application. If you fail to provide such information, within a timeframe specified upon the request, your Account may be suspended or closed.

We reserve the right to reject your application for any reason at any time.

10. Due Diligence

NOAH’s provisions of crypto-assets is subject to UK and EU anti-money laundering regulations outlined in 5th Anti-Money Laundering Directive (5AMLD) and Proceeds of Crime Act 2002. In order to be compliant and prevent Financial Crime, NOAH performs automated and manual transaction screening which may impact value, speed and frequency of the transactions you make using NOAH Application.

Furthermore, we may ask you for further information about yourself, source of funds, payee, purpose of transaction and any other information we may require.

We reserve the right at any time to refuse or freeze the transaction if we believe that there is a reason to suspect that the transaction in question has been connected to financial crime. We may suspend your access to your NOAH Account if we suspect that any activity related to your account is illegal or otherwise in breach of this Agreement.

11. Rewards

We may, but are not obliged to, provide you with rewards (”Rewards”) once you perform certain actions, for example referrals, by using NOAH Application. Rewards are paid out in NP unless otherwise stated. Details, such as criteria, amounts, and redemption, will be displayed within the NOAH Application.

Redemptions are irreversible. Once NP have been redeemed for another reward, this cannot be exchanged back into NP.

Rewards may be taxable, depending on the tax laws pertaining to your jurisdiction. You are solely responsible for reporting this on tax returns and paying any associated tax liability.

If you have participated in any NOAH contests and have been successful in winning, NOAH might use your lightning address on social media platforms within out imagery, tweets or any other communication.

NOAH reserves the right to modify these rewards at any time, without notice to you, so it is important to check this section of the T&Cs periodically.

12. Risks of cryptocurrencies

Cryptocurrencies (including your Digital Assets) come with some risks and we want you to be aware of them:

The Digital Assets you store in your NOAH Application are not protected by the Financial Services Compensation Scheme (FSCS).
NOAH’s services are not within the jurisdiction of the Financial Ombudsman Service (FOS).
Wallets and other software associated with cryptocurrencies can be hacked and can therefore be subject to loss or delay.
Values of cryptocurrencies are not stable and can rapidly change.
Transfers of cryptocurrencies are irreversible, and cannot be cancelled once they have been confirmed.

13. Fees

We may charge fees for some or part of the Services. Such fees may be subject to change at our sole discretion. The fees are disclosed at the time you access the Service and/or are available on the Site. You may incur charges from third parties for use of Third Party Materials. Such third party fees are not charged by NOAH.

We currently charge 3.5% for debit and credit card purchases and debit and credit card selling for purchases above $50. If the purchase is between our minimum of $20 up to $50, the fixed fee is $1.75.

Where a third party imposes charges for a transfer, such as a banking charge for a fiat transaction, we will pass such charges on to you.

14. Suspension, Termination and Cancellation

You can close your Account at any time and for any reason by getting in touch with us at privacy@noah.com or via the chat within the app.

To the extent permitted by Applicable Law, NOAH may at any time and without liability to, terminate, suspend or limit your use or any functionality of the NOAH Application, under the following circumstances:

(a) in the event of any breach by you of these T&Cs and any other terms and conditions referred to in these T&Cs; (b) for the purposes of complying with Applicable Laws or the prevention of criminal activities; (c) where NOAH suspects that you conduct any fraudulent or unlawful activities (including but not limited to money laundering, terrorism financing and fraudulent activities); (d) where we are required to do so to comply with a court order, law, regulation, regulatory decree or ombudsman’s orders; or (e) where NOAH determine, in our sole discretion, that your use of your NOAH Application is detrimental or harmful to us in any manner; or (f) it transpires that you have provided false, inaccurate, incomplete or misleading information; you fail to provide the required information for the ongoing due diligence process; or (g) to remedy the effects of any defect in or compromise to any information system upon which NOAH relies on; or (h) where you have been declared bankrupt; or (i) where you have been declared deceased.

If at any time you do not feel that you can agree to these T&Cs or any changes made to the NOAH Application, you must immediately stop using and close your NOAH account. You can close your NOAH account at any time by withdrawing your Cryptoassets from your NOAH Application.

You will also lose your access to your NOAH Application if you terminate your use of the NOAH Application or if we decide to withdraw the NOAH Application altogether (in which case we'll give you two months' notice). You will not be entitled to any refund of fees for use of the NOAH Application or any other fees.

15. Data protection

By using the NOAH Application, you confirm that you have read and accepted our Privacy Notice and understand how we collect, make use of, disclose, retain and otherwise process your personal data, as well as disclose such Personal Data to our authorised service providers and relevant third parties.

16. Third party services and contents

Any transactions in relation to the Supported Cryptocurrencies must be confirmed and recorded on the relevant Third-Party Blockchain Networks. Such Third Party Blockchain Networks are decentralised, peer-to-peer networks and supported by independent third parties, which NOAH does not own, operate or have control over. Therefore, we cannot and do not (i) ensure that the Instruction that you submit via the NOAH Application to the Third-Party Blockchain Networks will be confirmed or processed; or (ii) assist you to cancel or modify your Instructions once the Instructions have been submitted via the NOAH Application to the Third-Party Blockchain Networks.

You acknowledge and agree that by confirming the sending of your Supported Cryptocurrency you have checked and confirm that the recipient wallet address supports the type of cryptocurrency or token you are sending, is compatible with the token standard of the cryptocurrency or token you are sending, is a valid address, and is the correct recipient address. NOAH is not liable for any losses of your Supported Cryptocurrency and will not assist in retrieving such lost Supported Cryptocurrency if you fail to do so.

17. Limitations of liability

NOAH (including our officers, directors, employees and affiliates) will not be liable to you for any:

loss of profits, business, goodwill, or data, or any indirect or consequential loss, unless we could reasonably have foreseen its possibility;
losses resulting from any unforeseeable events beyond our reasonable control, including but not limited to governmental action or acts of terrorism, earthquake, ﬁre, ﬂood, or other acts of God, labour conditions, delays or failures caused by problems with another system or network, mechanical breakdown or data-processing failures or where we are bound by other legal obligations;
losses resulting from a breach of your obligations under this Agreement; or
digital assets received and held by us through air drops, forks or other similar mechanisms, and we will have no duty, responsibility or obligation to you with respect to such assets, unless and until you have been notified in writing by us that such digital assets are “Digital Assets” (as defined in this Agreement), supported by NOAH, and included on your NOAH Application receipts or statements.

Our maximum total liability to you for an individual claim or series of claims resulting from a breach of this Agreement will be limited to the amount of Digital Assets held in your Accounts at the time of the relevant claim.

While we aim to maintain continuous uptime, we do not provide any warranty in relation to the availability of the NOAH Services, and we exclude all liability for delays to, and interruptions of, the NOAH Services.

Because some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages, some of the limitations in this section may not apply to you.

18. No investment advice

We do not provide any type of investment advice. We may provide information concerning types of currencies and digital payment tokens, prices, and events that may have influenced prices, all of which should not be considered investment advice. If you require investment advice you should contact a financial advisor. You are solely responsible for how you use our services and the financial results of your actions.

19. Taxes

It is your sole responsibility to determine whether, and to what extent, any Taxes apply to your use of the NOAH Application, and to withhold, collect, report and remit the correct amounts of such Taxes to the appropriate tax authorities. We are not obligated to, nor will we determine whether Taxes apply, or calculate, collect, report, or remit any Taxes to any tax authority arising from any transaction.

20. Intellectual Property

We own or licence all intellectual property rights in the NOAH Services, our brand, logos, name, software, website, and all related materials. No right (including any intellectual property right) in any of the foregoing will vest in you at any time.

21. Severability

If any provision of these T&Cs shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, the invalidity or unenforceability of such provision shall not affect the other provisions of these T&Cs and all provisions not affected by such invalidity or unenforceability shall remain in full force and effect. Such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any Applicable Laws.

22. Entire Agreement

These T&Cs constitute the entire agreement between the parties with regard to its subject matter and supersedes and invalidates all other prior representations, arrangements, understandings, and agreements relating to the same subject matter, whether oral or in writing, express or implied. Each party acknowledges that in agreeing to these T&Cs it does not rely on any statement, representation, warranty, or understanding other than those expressly set out in these T&Cs.

23. Waiver

These T&Cs shall not be waived in whole or in part except where agreed by all parties in writing.

No failure or delay on the part of any party hereto in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. No right, power or remedy conferred upon or reserved for any party in these T&Cs is exclusive of any other right, power or remedy available to that party and each such right, power or remedy shall be cumulative.

24. Communications

By using the NOAH Application, you agree that we may provide you with any notices or other communications, including marketing, relating to your use of the NOAH Application electronically: (a) via email (in each case to the address that you provide), or (b) by posting to the Site. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted. You will always be given the option to unsubscribe from receiving any marketing material from us.

25. Governing law

English law will apply to all disputes and the interpretation of these T&Cs. The English courts will have non-exclusive jurisdiction over any dispute arising from or related to your use of the NOAH Application. This does not affect your rights under the law of the country in which you are resident, including (where applicable) your right to have a dispute in relation to your use of the NOAH Application heard in the courts of that country.

GLOSSARY

“Account”

means NOAH Account provided by NOAH that you receive and transfer digital assets.

“Affiliate”

means a corporation directly or indirectly, controlling, controlled by or under direct or indirect common control with another corporation;

“Applicable Law”

means any law, rule, statute, subordinate legislation, regulation, by-law, order, ordinance, protocol, code, guideline, treaty, policy, notice, direction or judicial, arbitral, administrative, ministerial or departmental judgement , award, decree, treaty, directive, or other requirement or guideline published or in force at any time which applies to or is otherwise intended to govern or regulate any person (including all parties to this T&Cs), property, transaction, activity, event or other matter, including any rule, order, judgement, directive or other requirement or guideline issued by any governmental or regulatory authority;

“Digital Asset”

means any sort of cryptographic tokens, digital currencies, cryptocurrencies or virtual currencies;

“Force Majeure Event”

means an event or failure which is beyond our reasonable control including (i) Acts of God, nature, court or government; (ii) failure or interruption in public or private telecommunication networks, Third-Party Blockchain Networks, communication channels or information systems; (iii) acts or omissions of acts of a party for whom we are not responsible; (iv) delay, failure or interruption in, or unavailability of, third party services and sites; (v) strikes, lockouts, labour disputes, wars, terrorist acts and riots; (vi) viruses, malware, other malicious computer codes or the hacking of any part of the NOAH Application and related applications or software;

“Include/Including”

means to include without limitation;

“Instructions”

means all information, instructions (including transfer of funds instructions), communications, orders or messages given to us by you via the NOAH Application;

“NOAH Application”

means the NOAH non-custodial wallet mobile application;

“NCW”

means a non-custodial wallet;

“Network(s)”

means the decentralised network(s) of blockchains built by third parties;

“Personal Data”

means any information relating to an identified or identifiable natural person; an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person;

“Prohibited Conduct”

means any conduct that is against the law in the country where you are located or in any country where NOAH conducts business; places an unreasonable load on, or otherwise threatens the security of NOAH services; is abusive or threatening to, or breaches the rights of, NOAH’s users; or is determined by NOAH to pose a risk to NOAH and reasonably designated as prohibited conduct.

“Recovery Phrase”

means the unique process that allows a user’s physical characteristics, such as, facial features or fingerprint to verify its identity which the user uses to import and recover his or her non-custodial wallet on a new device;

“Referred User”

person who is invited to a referral/ referred by another;

“Rewards”

means a promotional offer for the performance of some action within the NOAH Application;

“Security Factors”

means any information, service, or other means of verification used to authenticate your identity when facilitating a transaction or accessing your Account;

"Services”

has the meaning given to it in clause 3;

“Site”

means the website at https://noah.com which may change from time to time;

“Supported Cryptocurrency”

means all the cryptocurrencies listed on the NOAH Application, which may be updated with or without notice at our sole discretion from time to time;

“Third-Party Blockchain Networks”

means decentralised, peer-to-peer networks maintaining a distributed ledger of transactions linked via cryptographic hashes;

“Taxes”

means any taxes, duties or fees that incurred, or required to be collected, paid or withheld for any reason in connection with your use of the NOAH Application under any Applicable Law;

“we/us/our”

means NOAH; and

“you/your”

means the user(s) of the NOAH Application.

Last updated on 16 03 2023