Automated Transactions Terms

If you initiate recurring add-funds, add-Value or remove-funds, remove-Value transaction(s) via bank, debit card transfer, you authorise us to initiate recurring electronic debit entries from or to your relevant linked, external account(s); if you initiate other scheduled, recurring or automated transactions such as a recurring transfer between your sub-accounts (e.g., £100 to BTC every day) or a limit order or other automated transaction based on certain conditions (e.g., buy £100 worth of BTC when the price of BTC falls below £8,000), you authorise us to initiate such transactions on the specified dates or when the specified conditions are met.

In certain situations, such as scheduling a transaction to take place in the future drawing from your debit card, we may conduct a “micro-transaction” of less than a dollar to validate your card, which will be reversed within approximately 5 to 7 days. You expressly authorise us to process this transaction.

Your recurring transactions will occur in identical periodic installments based on the period you specify (e.g., daily, weekly, monthly), until either you or we cancel the recurrence. Automated transactions/limit orders based on conditions will remain active until the conditions are met, the conditions expire according to the terms you set, or either you or we cancel the transaction. Scheduled or recurring transactions will generally occur on the specified date at the same time of day as when the transactions were configured, and may be cancelled until 11:59pm of your local time on the day before a transaction is to take place; automated transactions such as limit orders may be cancelled at any time prior to the specified conditions being met.

Transactions set to occur in the future will be executed at the then-current market price as offered by Uphold on the Platform, which may differ from the price displayed for informational purposes at the time the transaction is created. If a deposit or withdrawal transaction falls on a weekend or holiday, or after bank business hours, an electronic debit may be executed on the next business day but the applicable exchange rate (if applicable) at the time of the scheduled transaction will apply.

You are responsible for ensuring that there is sufficient Value or funds in your “From” sub-account or originating account to process any recurring or automated transaction at the time of execution; if there is not sufficient Value or Funds, the transaction will not be processed. If your institution is unable to process any debit entry, we will attempt to notify you. 

Your authorisation will persist until you change your recurring or automated transaction settings or notify us in writing. You agree to notify us in writing of any changes in your linked, external account(s), debit card information prior to setting up a recurring or automated transaction. We may, at any time, terminate recurring or automated transactions with prior or subsequent notice to you.