Terms & Conditions

General Terms and Conditions of the App Money@Need, operated by Zakwan Koussa, Albert-Einstein-Str. 5, 85375 Neufahrn b. Freising, phone: +49 (0)176 250 706 64, e-mail: info@moneyatneed.com (hereinafter “Provider”)

1. Scope of application

These GTC apply between the provider and the users of the software offered (“App”) and regulate the conditions for the download and use of the App Money@Need. By using our app, the user agrees to these GTC.

2. Use of the app

(1) The scope of functions of the app differs depending on the operating system. The functions are described in the respective App Store (hereinafter for all “App Store”). The hardware and firmware requirements for operating the App on end devices are listed in the App Store. Updates are provided to the extent required by law in accordance with § 327f BGB (German Civil Code).

(2) A stable internet connection of the user’s end device is required for the download and use of the app. The user must ensure this himself.

(3) The provider is entitled to change, develop and improve the app technically and in terms of content at any time in a manner that is reasonable for the user. He is also entitled to discontinue the app at any time.

3. Prohibition of abuse

(1) The user is prohibited from using the app for illegal transactions. In this respect, the user undertakes not to undertake any actions that violate the rights of third parties.

(2) In the event of an infringement of third-party rights, the user shall indemnify the provider against all third-party claims upon first request. This also includes the costs of legal defence and prosecution.

4. Concept of the app

(1) The Money@Need app involves a user creating a money circle, defining a target amount and sharing the money circle with trusted friends. During the money circle, the users of the money circle pay the agreed amount to a specific user at specific intervals (daily, weekly, monthly, etc.) until each user of the money circle has received the target amount once.

(2) The order of who gets the money and when can be set in the app.

(3) The payment of the regular instalments takes place independently between the users. There is no money transfer via the app.

(4) The user who creates a money circle determines whether the payments are random or user-defined. Random payment means that the app randomly determines who should receive the target amount and in which order. In the case of user-defined payment, each user defines the order in which the user wants to receive the money. When creating the money circle, the user defines the frequency in which the target amount is to be paid. Possible payment frequencies are: daily, weekly, monthly, quarterly or annually. The user decides the respective payment method independently.

5. Costs

(1) The use of the app and the download are free of charge. There are no fees for the user to pay to the provider.

(2) The provider does not act as a financial service provider, as the payments only take place between the individual users and the provider only makes the platform available for this purpose.

(3) The app only organises the processes of the money circles. The provider is not liable if a user of the money circle does not pay the instalment. The users must clarify the payment processes among themselves.

6. Limitation of liability

(1) The liability of the provider in connection with the development and operation of the App is limited to intent and gross negligence; in the event of a breach of material contractual obligations, the provider shall also be liable for slight negligence.

(2) Insofar as the provider is liable in the case of slight negligence, the liability shall only exist for the contractually typical and foreseeable damage.

(3) The provider shall not be liable for any damage for which he is not responsible. This applies in particular to such damage that is attributable to force majeure, riots, acts of war, terrorism or natural events, hacker attacks (in the broadest sense), adverse market conditions or a failure or malfunction of technical systems or computer equipment over which the provider has no control.

(4) The provider is not liable for the payment of the individual instalments between the members. He is here merely a technical service provider and only makes the platform available.

7. Property rights

(1) The provider reserves all rights, in particular copyright and trademark rights, to the App and all content provided within the Apps.

(2) By downloading an app, the user acquires a non-exclusive and non-transferable licence, limited in time to the duration of the installation, to download, install and use the app on any compatible end device of which he is the owner. The right of use also includes any updates (upgrades, patches, etc.).

(3) The user acquires a simple and non-transferable right of use to the content retrieved in the app. The right of use entitles the user to download the content to his end device and to consume the content. It is limited in time to the period of use agreed for the respective content. In particular, the right to use old versions of content in the case of subscriptions ends with the end of the subscription.

(4) The user is not permitted to decompile, reverse engineer, disassemble an app, attempt to derive the source code, decrypt the source code, modify or create derivative works of the app or its contents or reuse it in other software. This shall not affect the mandatory statutory provisions pursuant to Section 69a et seq. of the German Copyright Act (UrhG).

8. Final provisions

(1) Ancillary agreements, amendments or supplements must be made in text form to be effective. This also applies to the cancellation of the text form.

(2) The contractual relationship between the user and the provider shall be governed by German law to the exclusion of the UN Convention on Contracts for the International Sale of Goods.

(3) If the user is a merchant, a legal entity under public law or a special fund under public law, the place of jurisdiction for all claims in connection with the business relationship shall be the registered office of the provider.

(4) Amendments and supplements to these GTC must be made in writing to be effective, subject to the prior provision of the written form. This also applies to the written form requirement itself.