GONRTH LTD · Account Agreement
Important Information
This Agreement relates to the Programme. Please read the terms and conditions of this Agreement carefully before applying for Your Account with the Programme. This Agreement and its terms and conditions, as may be amended from time to time on notice by Us, becomes effective and binding on Your successful application and activation or use of Your Account and for the entire period of validity of Your Account.
Your Account is an e money account. E money is issued and regulated payment services are provided by the Issuer (as defined in Clause 20), which is the payment service provider for the services under this Agreement and is authorised by the relevant regulator(s). The Programme Manager provides operational and technical services only and does not itself issue e money or provide regulated payment services unless expressly stated. Funds received from you in exchange for e money are safeguarded by the Issuer in accordance with applicable law. This product is not a bank account, does not earn interest, is not a deposit product, and is not covered by the Financial Services Compensation Scheme (FSCS) or any deposit guarantee scheme.
The terms and conditions apply to the Programme, which consists of the Account issued to You by the Issuer, in accordance with applicable regulatory permissions, and operated by Programme Manager (together "We", "Us" or "Our"). The Account enables You to load and create an Available Balance (which is E money) and transfer the Available Balance using the Schemes.
The Programme Manager is GONRTH LTD a company incorporated in England and Wales under company number 16286129 with registered office at 3rd Floor, 86 to 90 Paul Street, London EC2A 4NE. NRTH operates the digital platform used for onboarding, verification, payment initiation, risk controls, compliance support and customer support.
Your NRTH Account is issued by Issuer, in accordance with applicable regulatory permissions, pursuant to agreement with the relevant payment scheme(s) and participation arrangements. Regulated payment services and e money issuance are provided by the Issuer. The Programme Manager provides operational and technical services only and does not itself issue e money or provide regulated payment services unless expressly stated.
The Programme provides access to e money accounts, Direct Debit collections, outbound transfers, supplier payments, payroll payments and related digital services. NRTH does not issue e money or hold customer funds. The Issuer safeguards all funds. Your Account is an e money account, not a bank account, and does not earn interest.
All Fees and Charges relating to the Programme are detailed in the Fees and Limits Schedule to this Agreement. You will be provided with the Fees and Limits Schedule before you are bound by this Agreement, and it will remain available to you in a durable medium (e.g. downloadable via the Website).
Where currency conversion applies, we will apply: (a) the exchange rate determined by the relevant Scheme or our FX provider (as applicable); and (b) any applicable FX fee or mark up set out in the Fees and Limits Schedule.
To apply for, and use, an Account relating to the Programme You must be at least 18 years of age and reside in either the UK or EEA, and legally capable of entering into contracts. Businesses must hold valid registration and authority. An Account may be applied for on the Website.
Provided the Programme has been able to undertake KYC or KYB (as required) to a satisfactory standard as per the Programme AML Policy, You shall receive an activation confirmation by Your email and You will be able to use the Account.
When applying for an Account on the Website, You will be prompted to create a username and password. You will need this username and password (collectively Your "Security Details" for the Account) to access Your Online Account and perform the following functions online:
You are permitted to have only one Account where the Available Balance of E money, which may be redeemed, can be found. If we discover that You do have more than one Account, We may block Your Account without notice and terminate this Agreement with You forthwith.
The Account is an e money account with no overdraft or credit facility, that can only be used to redeem the Available Balance in Your Account. It has no function to apply for credit or an overdraft.
The information required by applicable payment services law will be provided to you before you are bound and will remain available in a durable medium, including via the Website and upon request.
Funds may be added to Your Account by any of the permitted methods set out in the "Loading Fees" section in the Fees and Limits Schedule to this Agreement.
To load Your Account by bank transfer, You must use a bank account that has been issued by a regulated credit institution in the UK or EEA and registered in the same name and address as Your Account.
The Programme reserves the right to request further KYC documents and verification of Your source of funds at any point. Fund loading limits may vary according to the type of Account and as set out in the Fees and Limits Schedule to this Agreement. Once Your Account has an Available Balance, following fund loading, it can be used to make payments.
You can use Your Account to make payments using the Scheme to external bank accounts via the Scheme and other methods as added and notified to You from time to time. A withdrawal fee may apply to withdrawals as set out in the Fees and Limits Schedule to this Agreement.
You must always ensure that You have a sufficient Available Balance for each Transaction You attempt (including value added tax and other taxes, duties and applicable fees). If the Available Balance is insufficient to pay for a Transaction, the transaction will be declined.
If for any reason a Transaction is carried out but its amount exceeds the Available Balance, You must pay us the deficit immediately, and if You fail to do so after receiving a notification from us, We reserve the right to terminate this Agreement between us and take all necessary steps, including legal action, to recover this deficit.
Transactions are subject to limits and compliance with the Fees and Limits Schedule to this Agreement. We may decline a transaction or place restrictions on Your Account or apply special security procedures in respect of transactions if:
Payments using Your Account for any transaction made in a currency other than supported currencies, will be declined or subject to Scheme acceptance terms, Scheme conditions and additional FX fees. Any refunds or returned transactions will load Your Account immediately or transfer the funds to Your Account or Personal Bank Account used to load the Account.
You will need to give Your consent to each Transaction so that the Programme can check it is genuine by, where applicable, (a) using Your Security Details personal to You; (b) confirming via the Website / strong customer authentication methods; (c) providing the Account details and/or providing any other details personal to You and/or Your Account. Once You have given such consent to the Transaction, it will be deemed to be authorised.
The time of receipt of a Transaction order is when the Programme receives it. If received after 4pm on a Business Day, it will be treated as received on the next Business Day. Once a Transaction has been authorised by You and received by the Programme, it cannot be revoked. We will execute payment orders no later than the end of the next Business Day after receipt, unless otherwise required by scheme rules.
Your ability to use or access the Account may occasionally be interrupted, for example if the Programme needs to carry out maintenance on its systems or websites. Please contact Customer Services to notify the Programme of any problems You are experiencing.
Where we receive funds for your Account, the value date will be no later than the Business Day on which the funds are received by us. Where a payment is executed from your Account, the debit value date will be no earlier than the time the amount is debited.
We may refuse to execute a payment order where permitted by law or scheme rules (including for fraud, compliance, or insufficient balance). Where we refuse, we will notify you (where lawful) and provide the reasons and any steps to correct the issue.
If you provide an incorrect IBAN or other unique identifier, we may execute the payment in accordance with that identifier. In such cases, we are not liable for non execution or defective execution, but we will make reasonable efforts to recover the funds and may charge a reasonable fee for recovery as set out in the Fees and Limits Schedule.
You are entirely responsible for Your Account and the Security Details for Your Account and must take all possible measures to keep them safe and entirely confidential.
If You suspect that someone else knows Your Security Details for Your Account, change them as soon as possible in Your Account. If You are not able to do so, please contact Us immediately to discuss.
You should check recent transactions and monitor the transactions history of Your Account regularly. If You do not recognise a transaction, then report it immediately.
We reserve the right to require You to register for, and/or use enhanced online transaction security systems for customer authentication, which may include a one time password as well as other third party authentication.
Failure to comply with this Clause may affect Your ability to claim any losses in the event that we can show that You have intentionally failed to keep the information safe or You have acted fraudulently, with undue delay or with gross negligence. Nothing in this clause limits your statutory rights under applicable payment services law relating to unauthorised transactions.
You agree to cooperate with Our agents, any supervisory or regulatory authority, the police and Us if Your Account Security Details are lost, stolen, compromised or if we suspect fraudulent use of the Account.
If You believe that any of the transactions on your Account were unauthorised or incorrectly posted to Your Account, You must notify Customer Services as soon as You become aware but not later than 13 months of the date of the debit to Your Account.
Unless we have reasonable grounds to suspect fraud by you or that you have acted with intent or gross negligence, we will refund the amount of the unauthorised or incorrectly executed transaction(s) immediately and in any event no later than the end of the next Business Day after we become aware of the claim, and we will restore your Account to the state it would have been in had the transaction not taken place.
Where You have made an authorised Transaction but have a dispute with the merchant, the Programme will require You to provide written confirmation of the disputed transaction within 3 days of the Transaction date.
To protect you from APP fraud, We will follow a new set of rules for payments made on or after 7 October 2024. You may be entitled to reimbursement of up to £85,000 if you have been victim of APP fraud. You must notify us within 13 months of the last relevant transaction, otherwise you won't be eligible for a refund.
We will usually assess your claim and process your reimbursement within five working days unless we need more information. Note that we'll apply a £100 excess for any claim made. This is a fixed amount for each claim you make.
Reimbursement may not be provided if:
Please note that the reimbursement for APP fraud applies to payments made via Faster Payments and CHAPS in the UK only.
If you have authorised a payment, you are responsible for it, even if you later have a dispute with the beneficiary (for example, goods or services not received, dissatisfaction with a purchase, or a civil dispute). We are not responsible for the goods or services you pay for. Where possible, we may assist you by making reasonable efforts to recover funds, but we cannot guarantee recovery.
You can instruct a TPP to access information on your Account or initiate certain Transactions from your Account provided such TPP has identified itself to Us and it has acted in accordance with the relevant regulatory requirements. We will treat any instruction from a TPP as if it was from You.
We may deny a TPP access to your Account if we are concerned about unauthorised or fraudulent access by that TPP setting out the reason for such denial.
If you use your Account to make or receive a payment in a currency other than the currency of your Account, the amount will be converted using the exchange rate determined by the relevant Scheme or our FX provider (as applicable), plus any FX fee or mark up set out in the Fees and Limits Schedule. You may also be charged a foreign exchange Fee as set out in the Fees and Limits Schedule to this Agreement.
NRTH provides Direct Debit collection services in the United Kingdom using a Service User Number issued to NRTH and processed through the Bacs scheme by London and Zurich as our authorised Direct Debit bureau. All Direct Debit collections are governed by the Bacs Scheme Rules and the Direct Debit Guarantee.
The Direct Debit Guarantee provides:
This Guarantee applies to your customers where they are payers under the Bacs scheme. It does not apply to you as a merchant or to settlement between you and NRTH.
You are responsible for ensuring mandate details are accurate, mandate changes are communicated in advance, mandates are not used after cancellation, and payers receive appropriate advance notice. NRTH or London and Zurich may cancel mandates for compliance or risk reasons.
Direct Debit collections typically settle to you within three business days from the collection date. In some cases settlement may take up to five business days depending on bank processing, scheme timelines, risk reviews or partner delays.
If a payer requests a refund under the Direct Debit Guarantee the payer's bank may issue a Direct Debit Indemnity Claim. You are liable for all indemnity claims relating to your payers and your transactions. NRTH may deduct indemnity claim amounts or withhold funds to cover potential claims.
If You change name, address or contact details such as telephone number or email address You must notify the Programme within 14 days of the change.
The Programme reserves the right at any time to perform checks to confirm that the personal details You provide are accurate (for example, by requesting relevant original documents), including for the purposes of preventing fraud and/or money laundering.
The Programme is a data controller of personal data provided in connection with the Programme, Your Account and, where You consent, Information on how the Programme uses and protects Your personal data is available in the Programme Privacy Policy on the Website. The Issuer is a controller of personal data provided in connection with the Programme.
The Programme may use third parties to process personal data on Our behalf. The Programme will process and retain personal data in order to open and administer Your Account, to deal with any enquiries You have about it and comply with regulatory obligations.
You have the right to know more about the information the Programme passes to third parties, receive details of the personal data held about You, and receive a copy of this Agreement at any time via the Website.
This Agreement is governed by United Kingdom law.
The Account is a payment service product and not a deposit or credit or banking product and, as such is not governed by the Financial Services Compensation Scheme (FSCS). However, the Programme will ensure proper safeguarding of Your funds so that they are protected in accordance with applicable law if the Programme or We become insolvent.
You may not assign or transfer any of Your rights and/or benefits under this Agreement. Subject to giving You 60 days' notice the Programme may assign all rights and benefits under this Agreement to a third party and may subcontract any of the obligations under this Agreement.
Any communication from the Programme to You will be given via the Website and by notification via email (using the latest contact details with which You have provided us). All communications relating to Your Account will be in English.
If You are unhappy with the service provided under these Terms and Conditions, please contact Customer Services to help You.
Upon receipt of Your emailed complaint, Customer Services shall endeavour to respond to You as quickly as possible but, in any event, shall reply to You by return email by no later than 15 Business Days. In exceptional circumstances, we may extend to 35 Business Days, and we will tell you why and when you will receive the final response.
If the Programme is unable to resolve any complaint, You are eligible to contact the UK Financial Ombudsman Service at:
If something which the Programme or We are not reasonably able to control stops or delays the Programme from meeting an obligation under this Agreement, the Programme and We will not be responsible for any loss which You may suffer.
If You are affected by something which is a fault of the Programme, the Programme will only be responsible for the financial loss actually debited from Your Account and not for any other loss whatsoever.
Provided You have not acted fraudulently or with gross negligence Your maximum liability for any transactions or fees incurred on Your Account if someone else uses Your Account before You report it compromised will be €50 / £35.
Nothing in this Agreement shall exclude or limit our liability for death or personal injury resulting from Our negligence or fraud. Nothing in this Agreement limits or excludes any rights or protections you have under applicable payment services law.
For all other matters not expressly covered and to the extent permitted by applicable law, the Programme and Our total aggregate liability shall be limited to the total amount of money that You have deposited into Your Account over the 12 month period prior to the claim.
Except in exceptional circumstances (e.g. customer fraud or a security breach) the Programme and Us will provide You 60 days' notice of any material change to this Agreement. Notice will be sent to the email address registered to Your Account.
Changes will be deemed to have been accepted unless You notify the Programme to the contrary before the proposed date the change comes into effect. Rejection of any proposed changes will amount to termination of Agreement and the closure of Your Account.
If you do not agree to a change, you may terminate this Agreement and close your Account before the change takes effect, without additional charges for termination (other than fees for services already provided or unavoidable costs).
You have the right to withdraw from this Agreement and close Your Account within 14 days of the date of the opening of Your Account without cause and without penalty. The Programme will refund all charges if You cancel within this period.
At any time after the initial 14 day cooling off period, Your Account will be cancelled 10 days after the Programme receives the withdrawal notice.
The Programme has the right to terminate this agreement and close an Account by giving You 90 days' written notice.
The Programme may at any time and without notice suspend, restrict, block or cancel Your Account for reasons including materially incorrect or false information, compliance with regulations, non compliance with this Agreement, fraudulent or unlawful use, legal requirements, or abusive behaviour towards staff.
You may redeem Your Available Balance by contacting the Programme at any time prior to 6 years from the date of closure of Your Account.
Moorwand Ltd is a company incorporated and registered in England & Wales under registration No. 8491211 with a registered office at 3 Lloyd's Avenue, London, England, EC3N 3DS, United Kingdom. Moorwand Ltd is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Register ref: 900709) for the issuing of electronic money and payment instruments.
To contact Customer Service of the Account Issuer, please email operations@moorwand.com.
Key terms used throughout this Agreement:
Account: The IBAN and electronic money account associated with Your Account.
Agreement: These terms and conditions relating to the use of Your Account(s) as amended from time to time.
Available Balance: The value of unspent funds loaded onto Your Account available to use.
Business Day: Monday to Friday, 9am to 5pm GMT, excluding bank and public holidays in the UK and Europe.
CHAPS: The Clearing House Automated Payment System, a service enabling organisations to make same day payments to an account within the UK.
Customer Services: The contact centre for dealing with queries about Your NRTH Account. Email: support@gonrth.co or write to GoNrth 3rd Floor 86 90 Paul Street, London, United Kingdom, EC2A 4NE.
EEA: European Economic Area.
E money: Monetary value issued by the E Money Issuer to Your Account on receipt of funds on Your behalf, equal to the amount of funds received.
Faster Payment: A service allowing you to make and receive electronic payments in the UK which is received by the recipient bank within 2 hours.
IBAN: An international bank account number, a standard international numbering system developed to identify a bank account.
KYC: Means "Know Your Customer" and constitutes our verification of Your Personal Details.
KYB: Means "Know Your Business" and constitutes our verification of Your Business entity details.
Programme: The NRTH Programme provides access to e money accounts, Direct Debit collections, outbound transfers, supplier payments, payroll payments and related digital services.
Programme Manager: GONRTH LTD, company number 16286129, registered at 3rd Floor, 86 to 90 Paul Street, London EC2A 4NE.
Scheme: Faster Payments.
Transaction: A payment order, transfer, Direct Debit collection, or other payment service initiated from your Account.
TPP (Third Party Provider): An Account Information Service Provider or a Payment Initiation Service Provider.
Security Details: A set of personal codes consisting of numbers, letters and symbols which form a username and password selected by You to access Your Account.
Website: https://gonrth.co
NRTH currently provides Direct Debit payment services only.
For invoice collections made via Direct Debit, NRTH charges 1% + £0.20 per invoice on the first £2,000 collected, capped at £5, and 0.3% on any amount collected above £2,000.
No account fees, transaction fees, FX fees, loading fees, recurring fees, or inactivity fees apply to Direct Debit services at this time.
| Recall investigation | £55 |
| Redemption fee | £0 |
| Monthly account fee | £0 |
| Inactivity fee (after 6 months of no activity) | £0 |
GONRTH LTD is a company registered in England and Wales (Company No. 16286129).
Registered office: 3rd Floor, 86 to 90 Paul Street, London EC2A 4NE.
© 2026 NRTH
© 2026 NRTH. All rights reserved.
NRTH is a trading name of GONRTH Ltd, registered in England and Wales under company number 16286129. Registered office: 3rd Floor, 86–90 Paul Street, London, EC2A 4NE, United Kingdom. Payment services available through the NRTH platform are delivered by authorised third-party providers. See our Regulatory Information page for further details.
