Last updated:August 23, 2016
You must be an individual of at least 16 years of age to enter into this Agreement. SBIYP does not support business accounts. Use of certain Services may have further eligibility requirements that will need to be verified prior to you using such Services.
2. Registration Process; Identity Verification
You may register for one account per device denominated in Bitcoin,
When registering for your account, you must provide current, complete, and accurate information for all required elements on the registration page. If any of this information changes, it is your obligation to update such information as soon as possible. From time to time, we may also require you to provide further information as a condition for continued use of the Services. If in future you wish to link third party accounts, you authorise SBIYP, directly or through third parties, to make any inquiries we deem necessary to validate your identity, including verifying your identity via electronic services. This may include requesting further information about you such as your date of birth, email address, residential address, tax identification number, and current account or credit card information so that we can confirm your identity. We reserve the right to maintain your account registration information after you close your account for business and regulatory compliance purposes.
By entering into this Agreement, you agree to receive electronic communications and notifications in accordance with our E-Sign Consent Policy.
This Agreement is provided to you and concluded in English. We will also communicate with you in English for all matters related to your use of our Services. Where we have provided you with a translation of the English language version of this Agreement, you agree that the translation is provided for your convenience only and that the English language version of the Agreement will govern your use of the Services.
5. Security of User Information
You are responsible for maintaining the confidentiality and security of any and all account names, user IDs, passwords, personal identification numbers (PINs), and mobile or application unlock codes that you use to access the Services. You are responsible for keeping your email address up to date in our records and for maintaining the confidentiality of your user information.
SBIYP will not be liable for any loss or damage arising from your failure to protect your account information.
We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from SBIYP, you should contact email@example.com not by clicking links contained in emails.
6. Account Suspension & Closure
We may, in our sole and absolute discretion, without liability to you or any third party, refuse to let you open an account, suspend your account, or terminate your account or your use of one or more of the Services. Such actions may be taken as a result of account inactivity, failure to respond to customer support requests, failure to positively identify yourself, or your violation of the terms of this Agreement (including, but not limited to, Sections 16 and 17). If you have a balance remaining in an account which has been suspended or closed, you will be able to recover such funds, unless prohibited by law or a court order.SBIYP, in its discretion, will allow you to send your funds to an external bitcoin address. We reserve the right to require you to provide further identifying information before processing such withdrawal or transfer requests and to delay or prohibit such withdrawal or transfer if we believe fraudulent or illegal activity has occurred. If you are unable to login to your account, you will need to contact Support to process such withdrawal.
You may terminate this Agreement at any time by closing your account and discontinuing use of the Services. Upon termination of this Agreement and your account, you remain liable for all transactions made while the account was open.
7. Services; Third Parties
SBIYP provides you with a secure and convenient way to establish an account for purposes of holding an account balance denominated in bitcoin and sending and receiving bitcoin.
SBIYP is an independent contractor for all purposes and is not your agent or trustee. SBIYP does not have control of, or liability for, any products or services that are purchased or sold by third parties using the Services.
SBIYP does not guarantee the identity of any user or other party or ensure that a buyer or seller is authorised to complete a transaction or will complete a transaction.
SBIYP is not liable for any losses or issues that may arise from such third party transactions, including, but not limited to, legality, quality, delivery, or satisfaction with any products purchased. If you are not satisfied with any goods or services purchased from, or sold to, a third party using the Services, you must handle those issues directly with the third party seller or buyer, as applicable.
8. Mobile Services
To the extent you access the Services through a mobile device, your wireless service carrier’s standard charges, data rates, and other fees may apply. In addition, downloading, installing, or using certain mobile applications may be prohibited or restricted by your carrier, and not all Services may work with all carriers or devices. By using mobile Services, you agree that we may communicate with you by SMS, MMS, text message, push notification, and/or other electronic means via your mobile device and that certain information about your usage of the Services may be communicated to us. In the event that you change or deactivate your mobile telephone number, you agree to promptly update your account information to ensure that your messages are not sent to any person who might acquire your old number.
9. Fees; Authorisation
SBIYP may charge certain fees for deposits and withdrawals sending or receiving funds, or bitcoin transactions. You also agree to pay any other fees that are disclosed to you with respect to the Services provided by SBIYP,
The value of bitcoin can rapidly increase or decrease at any time, so SBIYP cannot guarantee the value of Bitcoin. You acknowledge that the price or value of Bitcoin may fluctuate.
The Services do not involve any extension of credit to you, and no credit is extended to you in connection with your use of the Services.
We are not responsible for any processing delays that may result in connection with any deposit, withdrawal, or transaction.
11. Bitcoin Theft Insurance
SBIYP does not offer any insurance on the theft of your Bitcoin and if your bitcoin are lost or stolen as a result of your own failure to maintain proper security protocols i such loss is not covered by SBIYP. Your account is not covered by any government-backed deposit insurance scheme.
12. Transaction Limits
SBIYP reserves the right to change the deposit, withdrawal, conversion, storage, and velocity limits on your account as we deem reasonably necessary. We may establish individual or aggregate transaction limits on the size or number of deposits or withdrawals you make during any specified time period.
13. Right to Suspend or Delay Transactions
We reserve the right to change, suspend, or discontinue any aspect of the Services at any time, including hours of operation or availability of any feature, without notice and without liability. We may decline to process any deposit or withdrawal without prior notice and may limit or suspend your use of one or more Services at any time, in our sole discretion. Suspension of your use of any of the Services will not affect your rights and obligations pursuant to this Agreement. We may, in our sole discretion, delay deposits or withdrawals if we believe the transaction is suspicious, may involve fraud or misconduct, violates applicable laws, or violates the terms of this Agreement.
14. Insufficient Funds
If at any point your account has a negative balance (as a result of a deposit being rejected or reversed or otherwise), SBIYP may deduct amounts you owe from the balance of your account from funds you subsequently deposit, receive, or hold in any other SBIYP account that is in your name. . To secure your performance of this Agreement, you grant to SBIYP a lien on and security interest in and to the balances in your account.
In the event that SBIYP is forced to engage a third party to assist with the recovery of any negative balance, overdraft or chargeback, you will be charged any fees or expenses that are incurred by SBIYP in connection with such recovery efforts, including, but not limited to, collection fees or convenience fees charged by third parties. You hereby explicitly agree that all communication in relation to a delinquent account will be made by electronic mail or phone. Such communication may be made by SBIYP or by any third party acting on its behalf, including but not limited to a third party collection agent. Note that if SBIYP is forced to engage such third parties in connection with recovering amounts that you owe SBIYP, your credit may be negatively impacted.
15. Refunds; Reversals
Once you initiate a transaction to send Bitcoin to another user, those funds are deposited into the recipient’s Bitcoin account and can be freely spent or withdrawn by them, so your transactions cannot be reversed.
All payment transactions processed through the Services are non-refundable.
16. Restricted Activities
In connection with your use of Services, you hereby agree that you will not:
- violate (or assist any other party in violating) any applicable law, statute, ordinance, or regulation;
- intentionally try to defraud (or assist in the defrauding of) SBIYP or other SBIYP users;
- provide false, inaccurate, or misleading information;
- take any action that interferes with, intercepts, or expropriates any system, data, or information;
- partake in any transaction involving the proceeds of illegal activity;
- transmit or upload any virus, worm, or other malicious software or program;
- attempt to gain unauthorised access to other SBIYP accounts, the SBIYP website, or any related networks or systems;
- use the Services on behalf of any third party or otherwise act as an intermediary between SBIYP and any third parties;
- collect any user information from other SBIYP users, including, without limitation, email addresses;
- defame, harass, or violate the privacy or intellectual property rights of SBIYP or any other SBIYP users; or
- upload, display or transmit any messages, photos, videos or other media that contain illegal goods, pornographic, violent, obscene or copyrighted images or materials for use as an avatar, in connection with a payment or payment request, or otherwise.
17. Prohibited Payments
Using the Services to make the following types of payments is prohibited, and SBIYP reserves the right to monitor for and report payments that relate to:
- any Restricted Persons or persons or entities located in Restricted Territories (as each term is defined in Section 29);
- weapons of any kind, including but not limited to firearms, ammunition, knives, or related accessories;
- controlled substances including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia or accessories;
- constitute financial crime, money-laundering or terrorist financing;
- any other matters which we communicate to you that are unacceptable from time to time and which, for example, may be restricted by our and your payment partners.
In the event that SBIYP learns that you are making any such prohibited payments, SBIYP may suspend or terminate your SBIYP Account.
It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority.
SBIYP is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.
19. Indemnification; Release
You agree to indemnify and hold Embedded Downloads Ltd., Swiss Bank in your pcket, SBIYP, its affiliates, and service providers, and each of their officers, directors, agents, joint venturers, employees, and representatives harmless from any claim or demand (including attorneys’ fees and any losses, fines, fees, or penalties imposed by any regulatory authority) arising out of your breach of this Agreement, your violation of any law or regulation or your use of the Services.
For the purpose of this Section 19, the term “losses” means all net costs reasonably incurred by us or the other persons referred to in this Section which are the result of the matters set out in this Section 19 and which may relate to any claims, demands, causes of action, debt, cost, expense or other liability, including reasonable legal fees (without duplication).
If you have a dispute with one or more users or third parties, you release SBIYP (and its affiliates and service providers, and each of their officers, directors, agents, joint ventures, employees, and representatives) from any and all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.
20. Limitation of Liability; No Warranty
YOU EXPRESSLY UNDERSTAND AND AGREE THAT EMBEDDED DOWNLOADS LTD., SWISS BANK IN YOUR POCKET, SBIYP AND OUR AFFILIATES AND SERVICE PROVIDERS, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND REPRESENTATIVES WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, OR DAMAGES FOR LOSS OF PROFITS INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF SBIYP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, RESULTING FROM: (I) THE USE OR THE INABILITY TO USE THE SERVICES; (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE SERVICES; (III) UNAUTHORISED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; OR (IV) ANY OTHER MATTER RELATING TO THE SERVICES.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SERVICES OR WITH THIS AGREEMENT, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USE OF THE SERVICES AND CLOSE YOUR ACCOUNT.
THE SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED, OR STATUTORY. SBIYP, OUR AFFILIATES, AND OUR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. SBIYP MAKES NO WARRANTY THAT (I) THE SERVICES WILL MEET YOUR REQUIREMENTS, (II) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, OR (III) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS.
21. Force Majeure
SBIYP shall have no liability for any failure or delay resulting from any condition 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, power failures, equipment failures, and Internet or blockchain disturbances.
We may amend any portion of this Agreement at any time by posting the revised version of this Agreement with an updated revision date. The changes will become effective, and shall be deemed accepted by you, the first time you use the Services after the initial posting of the revised User Agreement and shall apply on a going-forward basis with respect to transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account. You agree that we shall not be liable to you or any third party as a result of any losses suffered by any modification or amendment of this Agreement.
If the revised Agreement includes a material change we will provide you with 30 days’ prior notice via our website and/or email before the material change becomes effective. For this purpose a “material change” means a significant change other than changes that (i) are to your benefit, (ii) are required to be made to comply with applicable laws and/or regulations or as otherwise required by one of our regulators, (iii) relates to a new product or service made available to you, or (iv) to otherwise clarify an existing term.
You may not transfer or assign this Agreement or any rights or obligations you have under this Agreement without our prior written consent, by operation of law or otherwise and any such attempted assignment shall be void. We reserve the right to freely assign or transfer this Agreement and the rights and obligations of this Agreement, to any third party at any time without notice or consent. If you object to such transfer or assignment, you may stop using our Services and terminate this Agreement by contacting Support and asking us to close your account.
Upon termination of your account or this Agreement for any other reason, all rights and obligations of the parties that by their nature are continuing will survive such termination.
25. Third Party Applications
If you grant express permission to a third party to connect to your account, either through the third party’s product or through SBIYP, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold SBIYP responsible for, and will indemnify SBIYP from, any liability arising from the actions or in-actions of this third party in connection with the permissions you grant.
26. Website; Third Party Content
SBIYP strives to provide accurate and reliable information and content on the SBIYP website, but such information may not always be correct, complete, or up to date.
SBIYP will update the information on the SBIYP website as necessary to provide you with the most up to date information, but you should always independently verify such information. The SBIYP website may also contain links to third party websites, applications, events or other materials (“Third Party Content”). Such information is provided for your convenience and links or references to Third Party Content do not constitute an endorsement by SBIYP of any products or services.
SBIYP shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the SBIYP website or in any Third Party Content.
27. Limited License; IP Rights
We grant you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the terms and conditions of this Agreement, to access and use the the Services solely for approved purposes as determined by SBIYP. Any other use of the Services is expressly prohibited.
SBIYP and its licensors reserve all rights in the Services and you agree that this Agreement does not grant you any rights in or licenses to the Services except for the limited license set forth above. Except as expressly authorised by SBIYP, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Services, in whole or in part. If you violate any portion of this Agreement, your permission to access and use the Services may be terminated pursuant to this Agreement. “swissbankinyourpocket.com”, SBIYP”, and all logos related to the Services are either trademarks, or registered marks of Embeeded Downloads Ltd, Swiss Bank in your pocket, SBIYP or its licensors. You may not copy, imitate, or use them without SBIYP’s prior written consent. All right, title, and interest in and to the SBIYP website, any content thereon, the Services, and all technology and any content created or derived from any of the foregoing is the exclusive property of SBIYP and its licensors.
28. Unclaimed Property
If SBIYP is holding funds in your account, and SBIYP is unable to contact you and has no record of your use of the Services for several years, applicable law may require SBIYP to report these funds as unclaimed property to the applicable jurisdiction. If this occurs, SBIYP will try to locate you at the address shown in our records, but if SBIYP is unable to locate you, it may be required to deliver any such funds to the applicable jurisdiction as unclaimed property. SBIYP reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
29. Legal Compliance
The Services are subject to Export Control Organisation Regulations, and, by using the Services, you represent that your actions are not in violation of such export control restrictions. Without limiting the foregoing, you may not use the Services if (i) you are a resident, national or agent of North Korea, Sudan, Syria, or any other country to which the United Kingdom embargoes goods or imposes similar sanctions (“Restricted Territories”), or (ii) you intend to supply bitcoin or otherwise transact with any Restricted Territories.
30. Complaints; Governing Law; Jurisdiction
If you are unhappy in any way with SBIYP or have any other complaints in connection with your SBIYP account, please tell us first by email firstname.lastname@example.org or reach us on the following mailing address: Embedded Downloads Ltd. trading as SBIYP and Swiss Bank in your pocket,, 20 – 22 Wenlock Road London N1 7GU UK, so we can investigate the circumstances for you. We will strive to deal with any complaints you may have quickly and fairly and will notify you of the outcome of our investigation.The terms of this User Agreement are governed by the laws of the United Kingdom. This means that this Agreement and any dispute or claim arising out of or in connection with it will be governed by the laws of the United Kingdom.
31. Entire Agreement; Third Party Rights
The failure of SBIYP to exercise or enforce any right or provision of the Agreement shall not constitute a waiver of such right or provision. If any provision of this Agreement shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect and remain enforceable between the parties.
This Agreement is not intended and shall not be construed to create any rights or remedies in any parties other than you and SBIYP and other SBIYP affiliates which each shall be a third party beneficiary of this Agreement, and no other person shall assert any rights as a third party beneficiary hereunder.