Keycount

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General Terms and Conditions

1. Preamble

keycount LLC (hereinafter “keycount LLC”) provides the user (hereinafter “user”) with the keycount app, a free banking application (hereinafter “keycount” or “keycount app”) with which the user can easily manage his/her finances. Subject to the following terms and conditions, keycount offers the services listed under section 3 and in particular the following benefits:

  • Overview of all bank accounts in one app,
  • Overview of all crypto wallets and exchanges in one app,
  • Categorization of transactions and analytics of all connected accounts.
  • Possibility to initiate payments of the various linked bank accounts

Our mission with keycount is to provide a personal financial assistant that helps every user to keep track of their finances while having access to analytics on all their accounts. The keycount app allows you to connect to over 1,500 different German banks and over 40 different crypto exchanges and wallets. In addition, it allows the user to initiate payments from the connected accounts. This way we enable you to have an overview of all your financial accounts and liquid assets in one place as well as classify and thus simplify your spending. In doing so, we build the keycount app in such a way that we can recommend it to our best friend without any restrictions!

The keycount LLC attaches highest importance to data security and data protection and works according to German banking security and data protection standards. More about this can be found in the privacy policy, which can be viewed at here and to which the user must agree for unrestricted use of the keycount app (see clauses 4, 5, 6.1 and 9).

2. General and scope

2.1 keycount LLC provides services to users of the keycount application in accordance with these terms and conditions.

2.2 keycount LLC is a company under Swiss law with its registered office in Switzerland.

2.3 If keycount LLC offers the services offered to the user in cooperation with partner companies or mediates services from partner companies (see sections 4 and 5), additional terms and conditions of these partner companies may apply.

2.4 These terms and conditions apply exclusively. Any terms and conditions of the user that conflict with or deviate from these Terms and Conditions shall only become part of the contract insofar as they are consistent with the content of these Terms and Conditions or have been expressly accepted in writing by keycount LLC. This also applies if keycount LLC provides services without reservation in the knowledge of conflicting or deviating terms and conditions of the user.

3. Services of keycount

Subject of the services of keycount are

  • Initial and continuous retrieval of bank account information for an overview of all bank accounts and the associated bookings and holdings.
  • Initial and ongoing retrieval of crypto account information to overview the user’s crypto exchanges and wallets and the associated bookings and holdings
  • Comprehensive transaction classification, financial analysis and forecasting based on account information
  • Provision of a support service for customers to answer questions of the user(s)
  • Possibility to send payment instructions regarding the connected accounts via the application and thus initiate payments

in each case in accordance with these terms and conditions and the separate privacy policy (see sections 1, 4, 5, 6.1, and 9).

in each case in accordance with these terms and conditions and the separate privacy policy (see sections 1, 4, 5, 6.1, and 8).

4. implementation of the Services

4.1 Bank Data Aggregation & Financial Analysis

A prerequisite for using the services of the keycount app is the analysis of the bank account of the user (hereinafter referred to as “financial analysis”). The financial analysis is carried out in accordance with the following points:

4.1.1 The necessary data for the financial analysis from the bank account (especially regular credits, SEPA direct debits as well as standing orders) can be retrieved via standardized interfaces in the financial industry (hereinafter referred to as “bank interfaces”) using XS2A, FinTS or the bank’s own interfaces (e.g. dbAPI). These interfaces are defined in accordance with the EU-wide PSD2 Regulation and are accessed via the same security mechanisms as normal online banking access.

4.1.2 In order for the data to be accessed via these banking interfaces, the user must first authenticate him/herself as the account holder to the banking interface using his/her online banking login data (e.g. account number and PIN) and also strong authentication by the customer (e.g. smsTAN). Then, depending on the bank, the transactions of the last 90-365 days are transmitted.

4.1.3 keycount structures and categorizes the relevant direct debits, credit notes and standing orders from the transmitted turnover data. Categorization means that the turnovers are assigned to different expenditure items, such as living & household or mobility.

4.1.4 In addition to the turnover data, some bank interfaces offer the option that the personal information stored at the bank (e.g., first and last name, postal address, and e-mail address) is transmitted to us. The user must expressly consent to the transmission of this data.

4.1.5 The use of the keycount app requires that the user has confirmed the Terms and Conditions and agreed to the separate Privacy Policy before authenticating with his/her mobile number.

4.2 Transactions

In order to use the services of the keycount app, the user’s bank account must be connected. If the user uses the “Open Banking” services to initiate a payment from an account the user holds with another provider, the user must also give us the authority to initiate that payment. We will not store any of the sensitive payment information that the user provides in order to grant this authority. We will assume that the user has consented and authorized us to initiate payments from these accounts when the user elects to use a particular payment service in the keycount app and after the user has entered and submitted all required and requested information in the keycount app. The connection and payment services are made in accordance with the following points:

4.2.1 The necessary data for the payment function from the bank account can be sent via standardized interfaces in the financial industry (hereinafter “banking interfaces”) using XS2A, FinTS or bank-owned interfaces (e.g. dbAPI). These interfaces are defined in accordance with the EU-wide PSD2 Regulation and are sent via the same security mechanisms as normal online banking access.

4.2.2 In order for the data to be sent via these banking interfaces, the user must first authenticate him/herself as the account holder to the banking interface using his/her online banking login data (e.g. account number and PIN) and also strong authentication by the customer (e.g. smsTAN). Then, depending on the bank, the payment functionality is activated directly or a further confirmation is requested after the payment has been entered.

4.2.3 keycount provides access to a platform that enables the direct entry and execution of payments from all connected bank accounts (provided the bank offers this functionality and is connected to keycount).

4.2.4 Payment Execution: To send payments there is a function “Transaction”, this opens the transaction screen where the user selects: the bank account from which the transaction should be initiated, the amount, the name of the recipient and the purpose. The “Scan” function opens the camera, the user can additionally select whether he/she wants to scan an invoice, a credit card or a bank bill. If the operation fails, the user will be redirected to the transaction screen to enter the details manually. The “Send to Friend” function opens the transaction screen and automatically uses the default account stored by the receiving person as the recipient account. If the receiving person is not yet on the keycount app, they will receive an invitation to download the app.

4.2.5 Receiving payments: With the functions “Transfer with Link” and “Transfer with QR Code”, keycount creates a one-time link to the payment data of a selected, connected account of the user. This can be sent and used by the other user to initiate a direct payment. Keycount links allow the user to send or receive payments from others. The keycount link or QR code can be shared by the user, so keycount payments can be received anywhere and by anyone with a valid bank account connected to keycount. Anyone who knows this keycount or account information can send a keycount payment to the user. Senders must add a description and enter the amount they wish to transfer. If they do not complete this process, no payment will be initiated.

4.2.6 For peer-to-peer payments, the mobile number or social media nickname can be used to locate the other peer. Provided that the user approves access, the keycount app can access the existing contacts on social media or in the user’s smartphone for such payments.

4.2.7 The use of the payment functions of the keycount app requires that the user has confirmed the Terms and Conditions and agreed to the separate Privacy Policy prior to the first payment initiation.

4.2 Crypto Data Aggregation

A prerequisite for using the services of the keycount app is also the analysis of the user’s crypto accounts and wallets (hereinafter referred to as “Crypto Analysis”). Cryptoanalysis is performed in accordance with the following points:

4.3.1 The necessary data for the cryptoanalysis (especially crypto-transactions, exchange rates, account balances as well as account information) can be retrieved via interfaces (hereinafter “crypto interfaces”).

4.3.2 In order for the data to be accessed via these crypto interfaces, the user must first authenticate himself/herself as an account/wallet holder to the crypto interface using his/her login data for the relevant exchange or wallet (e.g. e-mail address and password) and also strong authentication by the Customer (e.g. smsTAN or SecureID TAN). Then, depending on the provider, the data for the last 90-365 days is transmitted.

4.3.3 In addition to the turnover/ and transaction data, some crypto interfaces offer the option that the personal information stored with the exchange or wallet (e.g. first and last name, postal address and e-mail address) is transmitted to us. The user must expressly consent to the transfer of this data.

4.3.5 The use of the keycount app requires that the user has confirmed the Terms and Conditions and agreed to the separate Privacy Policy before authenticating with his/her crypto account/wallet.

4.4 Use of In-App Support

To report various problems as well as general support requests, there is the possibility to submit support requests directly in the keycount app. Support requests are submitted in accordance with the following points:

4.4.1 The user can use the direct in-app function in the keycount app to submit a support request. To do so, he/she must leave his/her email address and a description of the problem.

4.4.2 The use of the in-app support function of the keycount app requires that the user has explicitly confirmed the Terms and Conditions and agreed to the separate Privacy Policy.

5. Access and Availability

5.1 The legal capacity of the user is a prerequisite for the use of the keycount app.

5.2 When installing (downloading) the keycount app on the smartphone, the user will be asked to enter the mobile number of the smartphone. This number is verified for security reasons. In the event of a change or deactivation of the mobile number, the user must immediately inform keycount GmbH of either the new mobile number or the deactivation of the keycount app.

5.3 The services may be provided in whole or in part by a vicarious agent. In this case, the user will be made aware of the terms and conditions and the privacy policy of the vicarious agent when receiving the service and must accept them before the service is provided. In particular, keycount LLC works together with the following vicarious agents:

  • Tink Germany GmbH: A licensed Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) under the supervision of the German Federal Financial Supervisory Authority (BaFin), Tink Germany GmbH Gottfried-Keller-Str. 33 81245 Munich, which provides aggregation of bank account data and Initiation of transaktions as well as the categorization of the transaction data.
  • Vezgo Crypto API: An application to provide an API to access all crypto balances, tokens and trading history for retail customers of Wealthica Financial Technology (“Welthica”), Inc. 1100 René-Lévesque Blvd W 25th floor, Montreal, Canada, which performs crypto data aggregation.

5.4 The provision of services by keycount may also require the User to authenticate him/herself to the service provider or the banking interface. For this purpose, the user must know his/her authentication data (see section 4).

5.5 keycount LLC is entitled to change or modify the services of the keycount App in accordance with section 13.2 of the terms and conditions.

5.6 keycount LLC shall endeavor to provide the keycount app without interruptions. However, no liability can be accepted for temporary unavailability of the keycount app. The keycount LLC may temporarily limit the availability if this is necessary with regard to capacity limits, the security or integrity of the servers or to carry out technical maintenance or repair measures and this serves the proper or improved provision of services (maintenance work). In such cases, keycount LLC shall take into account the legitimate interests of the user(s), e.g. by providing advance information. The liability of keycount LLC due to fault according to section 11 remains unaffected.

6. Conclusion of Contract

6.1 By accepting these terms and conditions when registering on the keycount app, the user makes a binding offer to conclude a contract for the processing of his/her data and the provision of the services of the keycount app in accordance with these terms and conditions and the separate privacy policy (cf. sections 1, 4 and 9) by keycount LLC.

6.2 keycount LLC does not store any contract texts or keep them permanently available for retrieval by the user.

7. Cooperation and other Duties of the User

7.1 The user is obliged to cooperate appropriately when using the services of the keycount app.

7.2 In particular, the user shall authenticate him/herself with his/her online banking login data (e.g. account number and PIN) vis-à-vis the banking interface and any vicarious agents who provide the service.

7.3 The user shall not deposit an account of a third party in the keycount app without the express permission of that person.

7.4 The user shall not circumvent any security functions of the keycount app and shall refrain from attempting to do so.

7.5 The user shall ensure the confidentiality and security of his/her access data to the keycount app and the services used via it. He/she must keep his/her access data secret, must not pass them on, must not tolerate or allow third parties to gain knowledge of them and must take the necessary measures to ensure the confidentiality of his/her access data, e.g. by using a secure password with sufficient characters and combinations of numbers, letters and special characters and by changing his/her password regularly. He/she must keep his/her cell phone safe from access by third parties.

7.6 If the user discovers the loss or theft of the misuse or other unauthorized use of his/her access data, he/she must inform keycount LLC immediately. Any theft or misuse must be reported to the police immediately. If the user suspects that another person has gained unauthorized possession or knowledge of his/her access data or is using his/her access data, he/she must also inform keycount LLC immediately.

7.7 If the use of the keycount app deviates significantly from normal use or if there are indications of conduct in violation of the law or the Terms, keycount GmbH may require the user to use the app in accordance with the law and the terms, change, restrict or discontinue the provision of services without compensation and without prior notice, terminate the contract without notice and compensation and, if necessary, demand compensation for damages and indemnification from third-party claims. The same shall apply in the event of inaccurate or incomplete information provided by the customer upon conclusion of the contract.

7.8 If the user violates his/her obligations under these terms and conditions or the terms and conditions of vicarious agents (see section 5.2), keycount LLC is entitled to cancel the affected services of the keycount app or not to perform the requested service.

8. In-App Purchases

8.1 keycount GmbH offers the basic functions of the keycount app to the user free of charge.

8.2 In addition to the free basic functions, the user may, if desired, purchase paid services (in particular “Premium Functions”). The user will be informed about the content of the respective chargeable service, the prices and the terms of payment before concluding a chargeable contractual relationship. By pressing the button labeled “order with obligation to pay” or with a corresponding clear wording, the user declares that he/she wishes to conclude a contract for the chargeable services selected by him/her. keycount GmbH reserves the right to change these prices at unspecified times for new contracts. Within the scope of continuing obligations, keycount GmbH reserves the right to implement price increases at the beginning of a new subscription period in accordance with section 13.2, whereupon the user is informed accordingly and granted the right to object to the extension at the new price. In the event of an objection, the user shall no longer be able to use the chargeable services.

8.3 Within the scope of the booking of premium functions for a certain period of time, the user shall conclude a subscription which shall be automatically extended depending on the selected period of time, however, not more than one year, unless the user cancels it within the specified period of 24 hours to the end of the respective period of time.

8.4 The contents, functions and requirements of the chargeable services at the time of the order as presented in the keycount app apply.

8.5 All prices stated are final prices and include the applicable value added tax.

8.6 Right of revocation

8.6.1 As a consumer, the User is entitled to a right of revocation in accordance with the following provisions when using chargeable services (hereinafter referred to as “Contract”):

Cancellation policy

Right of withdrawal

You have the right to cancel this contract within fourteen days without giving any reason. The revocation period is fourteen days from the day of the conclusion of the contract.

To exercise your right of withdrawal, you must inform us by means of a clear declaration (e.g. an e-mail) of your decision to withdraw from this contract. To comply with the revocation period, it is sufficient that you send the notification of the exercise of the right of revocation before the expiry of the revocation period.

The revocation is to be sent to: keycount GmbH Rauchackerstrasse 37 8102 Oberengstringen Switzerland.

E-mail: company@key-count.com

Consequences of revocation

In the event of an effective revocation, the services received by both parties must be returned. You are obligated to pay compensation for the services rendered up to the time of revocation if you were made aware of this legal consequence prior to submitting your contractual declaration and expressly agreed to our commencing the performance of the service in return before the end of the revocation period. If there is an obligation to pay compensation for lost value, this may mean that you still have to fulfill the contractual payment obligations for the period until the revocation. Your right of revocation shall expire prematurely if the contract has been completely fulfilled by both parties at your express request before you have exercised your right of revocation. Obligations to refund payments must be fulfilled within 30 days. The period begins for you with the dispatch of your revocation, for us with its receipt. The revocation may limit your scope of services, such as access to chargeable services.

Consent to the performance of contractual services before the expiry of the revocation period

The user agrees that keycount GmbH may begin to perform the contractual services prior to the expiration of the revocation period. In the event of a revocation, the user is obliged to pay compensation for the value of the services received in accordance with the statutory provisions.

End of the cancellation policy

8.6.2 If keycount GmbH provides the user with certain chargeable services in full immediately after the order, the right of revocation shall expire if the user has given keycount GmbH his/her express consent to this and at the same time confirmed his/her knowledge that he/she loses his/her right of revocation upon complete fulfillment of the contract by keycount GmbH. The user’s right of revocation shall also expire in the case of a contract for the delivery of digital content not on a physical data carrier if keycount GmbH has commenced performance of the contract after the user has expressly consented to keycount GmbH commencing performance of the contract prior to the expiry of the revocation period and the user has confirmed his/her knowledge that he/she loses his/her right of revocation through his/her consent upon commencement of performance of the contract. These points will be pointed out separately to the User in the corresponding services.

9. Data Protection

9.1 keycount LLC collects, processes and uses personal data of the user(s) exclusively for the purpose of providing the services of the keycount app or improving the services. Likewise, keycount LLC may transmit this data to third party service providers for processing in order to provide the service through vicarious agents or to improve the service. Any further use of user data by keycount LLC does not take place. In order to be able to use the keycount app without restrictions, your consent to the use of your data is required (see sections 4 and 6.1).

9.2 With regard to the details, please refer to the separate data protection declaration, which is stored on the keycount website and in the keycount app and can be accessed there at any time.

9.3 The privacy policy also expressly contains the right of the user to revoke the consent in whole or in part at any time. The revocation of the consent does not affect the lawfulness of the processing carried out on the basis of the consent until the revocation. In the event of a full or partial revocation, however, it is possible that the user will not be able to continue to use the keycount app or will not be able to use it in full.

9.4 When using services in cooperation with our partner companies (vicarious agents) (cf. sections 4 and 5), additional or special data protection provisions may also apply (cf. section 5.3), for which the consent of the user may also be required.

10. Supplementary Disclaimer for Financial Analyses

10.1 The services provided are based on sales data from the past and attempt to transfer recognizable patterns to the future. However, changes or events may occur that are beyond our control. Therefore, keycount LLC points out that no guarantee can be given for the accuracy of the analyses.

11. Liability

11.1 Claims for damages by the user are excluded. Excluded from this are claims for damages by the user against keycount LLC arising from injury to life, limb or health or from the breach of essential contractual obligations (cardinal obligations) as well as liability for other damages based on an intentional or grossly negligent breach of duty by keycount LLC, its legal representatives or vicarious agents. This also applies to indirect consequential damages such as, in particular, loss of profit. keycount GmbH will compensate for property damage and financial losses up to a maximum of EUR 5,000 per damaging event.

11.2 Essential contractual obligations (cardinal obligations) are obligations which keycount LLC has to provide according to the content and purpose of this contract and its supplements, the fulfillment of which enables the proper execution of this contract and on the compliance of which the user regularly relies on and may rely on. The essential contractual obligations of this contract include in particular, but are not limited to, the services listed in section 3. The technical uninterrupted availability of the keycount app is not an essential contractual obligation.

11.3 In the event of a breach of material contractual obligations (cardinal obligations), keycount LLC shall only be liable for the foreseeable damage typical for this type of contract if this damage was caused by simple negligence, unless it is a matter of claims for damages by the User(s) arising from injury to life, limb or health.

11.4 The restrictions from clauses 11.1, 11.2 and 11.3 of the terms and conditions also apply in favor of the legal representatives and vicarious agents of keycount LLC, if claims are asserted directly against them.

11.5 The limitations of liability resulting from clauses 11.1, 11.2, 11.3 and 11.4 of the terms and conditions do not apply if keycount LLC has fraudulently concealed the defect or has given a guarantee for the quality of the item. The same applies insofar as keycount LLC and the user(s) have entered into a quality agreement.

11.6 The regulations of the product liability law remain unaffected by the regulations in this clause 11 of the terms and conditions.

11.7 keycount LLC is liable for the loss of data and programs and their recovery within the scope of this clause 11 and only to the extent that this loss could not have been avoided by taking reasonable precautionary measures, in particular by making daily back-up copies of all data and programs.

11.8 The user is obligated to immediately notify keycount LLC in writing of any damages in the sense of the above liability regulations or to have them recorded by keycount LLC, so that keycount LLC is informed as early as possible and can possibly mitigate the damages together with the user.

12. Termination

12.1 keycount LLC may also terminate the entire business relationship or individual business relationships for which neither a term nor a deviating termination provision has been agreed upon at any time by giving reasonable notice. When calculating the period of notice, keycount LLC shall take into account the legitimate interests of the user(s).

12.2 Termination of the entire business relationship or individual business relationships without notice is permissible if there is an important reason which makes it unreasonable for keycount LLC to continue the business relationship, even taking into account the legitimate concerns of the user. An important reason may exist in particular if the legal or regulatory requirements for the provision of or in connection with the services of the keycount app change. If the good cause consists of a breach of a contractual obligation, termination is only permissible after the unsuccessful expiry of a reasonable period set for remedial action or an unsuccessful warning, unless this is dispensable due to the particularities of the individual case (Section 323 (2) and (3) of the German Civil Code).

12.3 Subject to a separate agreement, the user is entitled to withdraw from the entire business relationship with keycount LLC at any time without notice. For this purpose, the user may irrevocably delete his/her user account within the keycount app.

13. Miscellaneous

13.1 Applicable law

13.1.1 These Terms and Conditions and all contracts and contractual rights and obligations concluded between keycount LLC and the user under these terms and conditions shall be governed by the laws of the Federal Republic of Germany, excluding the United Nations Convention on Contracts for the International Sale of Goods.

13.1.2 All non-contractual rights and obligations arising from or in connection with these terms and conditions shall also be governed by and construed in accordance with the laws of the Federal Republic of Germany.

13.1.3 The statutory provisions on the restriction of the choice of law and on the applicability of mandatory provisions, in particular of the state in which the user has his habitual residence as a consumer, shall remain unaffected.

13.1.4 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 disputes arising from contractual relationships between the user and keycount LLC is the registered office of keycount LLC.

13.2 Changes to the terms and conditions

13.2.1 keycount LLC reserves the right to change these terms and conditions and any special conditions at any time. Changes will be offered to the user in text form or via an electronic communication channel before the proposed date of their coming into effect. Each user shall have the right to either accept or reject the changes prior to their proposed effective date. The user shall be deemed to have given his/her consent if he/she has not indicated his/her refusal before the proposed date of entry into force of the changes. keycount LLC shall specifically draw the user’s attention to this approval effect in its offer.

13.2.2 If the user is offered changes to the terms and conditions of payment services (e.g. terms and conditions for credit transfers), he/she may terminate the payment services framework contract affected by the change without notice and free of charge prior to the proposed date on which the changes take effect. keycount LLC shall specifically draw the customer’s attention to this right of termination in its offer.

13.2.3 The contract remains binding in its remaining parts even if individual points are legally ineffective. Instead of the ineffective points, the legal regulations, if any, shall apply. However, insofar as this would represent an unreasonable hardship for one of the contracting parties, the contract as a whole shall become invalid.

Updated: January 2023