General terms and conditions

You can create a loan via FLUX5 if someone else has requested it from you and has sent a link for this payment option. All payments are processed via SEPA or SEPA Instant. Transfers, including the principal amount and interval payments, are sent directly to the bank account (IBAN) linked to both the lender's and borrower's FLUX5 accounts. You will receive any payments directly into the bank account you have specified.

You must use the loan amount solely for the purpose specified in the "purpose" field when you borrow or lend.

Prohibited Uses: You may not use the loan for illegal activities that are punishable under Dutch law, including but not limited to financing terrorism, money laundering, human trafficking, or drug trafficking. Additionally, the loan may not be used for the purchase of weapons, prostitution, gambling, pyramid schemes, or the financing of cults. Consequences: If it is determined that the loan is used for any of these purposes, FLUX5 reserves the right to immediately revoke your access to the platform and terminate any ongoing agreements. Borrower's Responsibility: The borrower is responsible for ensuring that the purpose of the loan complies with all applicable laws and regulations.

The FLUX5 platform is available to any private individual who resides within the EEA (European Economic Area) and possesses a valid bank account and identification (passport, ID).

FLUX5 uses open banking for payment processing payments and ensuring adherence to the highest European standards of compliance and security by its payment provider.

Direct Payments: FLUX5 does not have the ability to charge back, take back, or send money on behalf of users. All payments are conducted directly between the borrower and lender without any intermediary, third-party funds, or settlement and clearing accounts.

Payment Timing:  Payments will be processed through SEPA Instant (within 1 minute) or SEPA (within a maximum of 48 hours), depending on the bank.

Free for Personal Use: FLUX5 is free to use for transactions between friends and family. All transaction-related costs will be covered by FLUX5. However we do charge a fee based on the type of contract regarding its worth and purpose. See our pricing table regarding that.

Fees for Contract Termination: In the event of a wrongful termination of a loan agreement by a user, a fee of €5, - per contract will be charged.

Future Fees: FLUX5 reserves the right to introduce fees for specific services or products in the future, with users being notified at least 30 days in advance.

Borrower’s Obligation: You are responsible for ensuring that there are sufficient funds in your bank account to cover payments as stipulated in the loan agreement.

Arrears Procedure: If you fall behind on payments, you must contact FLUX5 or the lender immediately to discuss repayment options. If payment arrears exceed 14 days, a default notice will be issued specifying a deadline for payment. Failure to comply may result in the loan being handed over to a collection agency.

Additional Interest & Fees: In case of payment arrears, additional interest and fees as specified in the loan agreement may apply.

Service Provision: FLUX5 provides the platform for creating loan contracts, facilitating services, payments, and account verification.

No Financial Advice: FLUX5 does not provide financial or legal advice. Users are encouraged to consult with their own financial or legal advisors before entering into loan agreements.

Complaint Handling: In case of complaints, contact the FLUX5 support desk via contact[at]flux5.com. We will make reasonable efforts to address and resolve any issues promptly.

Jurisdiction: These terms are governed by Dutch law. Any disputes arising from these terms will be resolved in the competent courts of Amsterdam.

Limitation of Liability: FLUX5 is committed to providing a reliable platform but will not be held liable for any indirect, incidental, or consequential damages resulting from the use of its services.

Mitigation of Damages: FLUX5 will take reasonable measures to prevent or limit any potential damages, provided such measures can be implemented without unreasonable cost or inconvenience. 

Force Majeure: FLUX5 is not liable for any failure to perform its obligations due to circumstances beyond its control, including but not limited to natural disasters, strikes, or interruptions in internet service.

Privacy Policy: We have a separate privacy statement that details how we handle your personal data in accordance with the General Data Protection Regulation (GDPR).

Loan Agreement: A separate loan agreement is provided and must be accepted within the app before proceeding.

Amendments: FLUX5 reserves the right to amend these terms at any time, with users being notified at least 30 days in advance.

Alternative Dispute Resolution: In the event of a dispute that cannot be resolved through our support team, the parties agree to first seek resolution through mediation. If mediation fails, the dispute may be referred to arbitration in accordance with Dutch law, before resorting to litigation.

Jurisdiction: Any disputes arising from the use of the FLUX5 platform or services will be subject to the jurisdiction of the courts in Amsterdam, Netherlands.

Acceptable Use: Users are expected to use the FLUX5 platform responsibly. Any fraudulent, deceptive, or malicious activities are strictly prohibited. Users must not engage in activities that could harm other users or the integrity of the platform.

Prohibited Conduct: This includes, but is not limited to, creating fake accounts, manipulating transactions, or attempting to hack or disrupt the platform.

Termination of Service: FLUX5 reserves the right to suspend or terminate the accounts of users who violate these terms or engage in prohibited conduct.

Ownership: All content, software, and other intellectual property related to the FLUX5 platform are owned by FLUX5 or its licensors. Users are granted a limited, non-exclusive license to use the platform for its intended purpose.

User-Generated Content: Users retain ownership of any content they create and share on the platform but grant FLUX5 a worldwide, royalty-free license to use, display, and distribute this content within the platform.

Prohibited Use: Users may not reproduce, distribute, or create derivative works from any part of the FLUX5 platform without prior written permission.

Termination by User: Users may terminate their use of the FLUX5 platform at any time by following the account deletion process within the app.

Termination by FLUX5: FLUX5 reserves the right to terminate or suspend a user’s account at its discretion, including for violations of these terms, inactivity, or any reason that FLUX5 deems necessary to protect the integrity of the platform.

Effect of Termination: Upon termination, the user’s access to the platform will cease, but any outstanding obligations under a loan agreement must still be fulfilled.

User Indemnity: Users agree to indemnify and hold FLUX5, its affiliates, and its employees harmless from any claims, losses, liabilities, damages, costs, or expenses (including legal fees) arising out of the user's breach of these terms, misuse of the platform, or violation of any law or rights of a third party.

Scope of Indemnity: This indemnity applies to both direct and indirect consequences of the user’s actions on the platform