Terms & Conditions

The GTCs apply to the use of the IWM app and all related services, functions, and rules as part of the contract between IWM and the customer using the service. The GTCs apply to all customers.
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Upon registration, the customer is required to give their consent to the GTCs and accept them as binding. They apply to all forms of use of the IWM app and related services.
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The contracting party for the IWM app and related services is IWM. In addition to these GTCs, the separate terms and conditions of third parties (such as other online and mobile banking service providers, card issuer or cross-border payment providers) may also apply. The third parties may have access to and use customer data as necessary for the provision of IWM app and related services, provided that the customer actively consents to the use of their data.
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Any changes to the customer's personal information, such as a change in their name or address, must be promptly reported to IWM via chat function in the IWM app. Failure to do so may result in the immediate termination of the existing contractual relationship.
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IWM does not grant powers of attorney. The services offered are for private use only.
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Through the IWM app, customers may also have access to third-party services. If data is exchanged for this purpose; it will be transmitted in encrypted form.
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IWM may promote products or services from partner companies through the app, website, email, or other means. By using the IWM app and related services, the customer agrees that IWM will only share their data with partner companies if the customer actively consents on a case-by-case basis. The customer’s consent is required for any data sharing, ensuring that their information remains confidential and under their control. This sharing is subject to the terms of use and privacy policy of the respective partner company. IWM would like to clarify that introducing a partner company does not constitute providing advice.
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IWM strives to ensure uninterrupted use and availability of the services provided, but cannot guarantee their reliability. Customers acknowledge that access to the services may be temporarily restricted due to technical issues (such as malfunctions or maintenance) or circumstances beyond IWM's control (such as force majeure or third-party fault).
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IWM accepts residents of all countries except Afghanistan, Belarus, Comoros, Cuba, Iran, Myanmar, North Korea, Somalia, Sudan, Syria, Russia, United States of America, Venezuela, and Yemen.

To utilize the IWM app and its associated services, customers must satisfy the following conditions:

a. Age Requirement: Customers must be at least 14 years old.
b. Legal Capacity: Customers must have the legal capacity to act, ensuring they can enter into binding agreements.
c. Residency Restriction: Customers must not reside in a country that is subject to sanctions imposed by the Swiss Financial Market Supervisory Authority (FINMA).

The IWM app offers customers the convenience of opening a Swiss bank account in their own name, with a dedicated IBAN, at a Swiss licensed bank. This account setup is governed by a separate agreement between the customer and the Swiss bank, which is essential for establishing a business relationship with IWM. The specific details of the partnering Swiss bank will be disclosed upon the official launch of the IWM service.

In addition, the IWM app provides a feature for creating sub-accounts. When this function is used, a second account, technically distinct and assigned a separate IBAN, is created. This enables customers to manage their finances with greater flexibility and precision.

By meeting these criteria, customers can fully benefit from the range of services offered by the IWM app, designed to enhance their financial management experience in a secure and compliant manner.

IWM is subject to Swiss law with regard to the procurement, processing, and use of the personal data of its customers, including the Federal Act on Data Protection (FADP) and the Ordinance on Data Protection (DPO).
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IWM is committed to protecting customer data at all times by taking appropriate, state-of-the-art measures. IWM will not disclose personal data of the customer unless it is necessary for fulfilling a contract, the customer has given consent, or there is a legal obligation to do so. Banking secrecy concerning the contractual relationship between the customer and the Swiss bank is maintained at all times.
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In view of free instant transfers between IWM customers; the customer’s telephone number associated with their bank account would be highlighted in the contact list of their friends as an active IWM customer, if their friend consents to sharing their contact list with IWM. The IWM customer associated with the telephone number would appear as saved by the friend in their mobile contact list. Customers have the option to uncheck themselves from appearing as active IWM customers to other IWM customers on their mobile phone contact list from the settings tab.
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In view of the paid referral program inside the IWM app; customers who are referred by an existing customer via their unique link and are saved as contacts on the mobile phone contact list of the existing customer shall have their progress on the account opening and funding shared with their existing customer. Details of the new customer like his IBAN number will not be shared. The name will remain as saved in the contact list by the existing customer. Details such as when the customer has joined and if they have funded their account will be shared to trigger the eligibility of the referral fee to the existing customer. The exact funding amount will not be revealed.
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Regardless of this, IWM is required by law or regulation to provide information or report certain activities. IWM reserves the right to block access to the app at its discretion for an indefinite period, for example, to review suspicious incidents. IWM's privacy policy, including the principles governing the processing of personal data and any updates, is available online. The handling of personal data and data security are further detailed in the privacy policy, which is also available online.

IWM may outsource services or business units, such as the collection and administration of customer data or the preparation of transaction data, to third parties within or outside Switzerland (“outsourcing”). By using the IWM app and related services, the customer gives their express consent for their data to be processed by IWM and transferred to the specified parties in connection with the services. The customer also gives their consent for these parties to pass their data on to additional outsourcing parties. All data will be treated confidentially by all data-processing parties.
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IWM needs certain data to determine customer needs and meet customer interests in compliance with the Data Protection Act and the privacy policy. This may require the systematic collection and evaluation of electronic customer data by IWM or by third parties commissioned by IWM and subject to bank customer confidentiality. The customer agrees to this collection and evaluation of their data. IWM stores customer data for a period of ten years in order to prevent misuse. After this period, the customer has the right to request that structured customer data be erased from live systems, if this is permitted by law. More information about this is available in the privacy policy, which is available online. The customer consents to the collection and analysis of their data.

IWM may use customer data to create personalized profiles, enabling both IWM and its partners to offer services, products, or information that are specifically tailored to each customer’s unique situation or interests. This process is conducted strictly within the context of drafting and executing contracts with relevant partners. It is important to note that IWM will not disclose any additional information to third parties beyond what is necessary for these purposes.

IWM introduces a special category of customers known as “Ambassadors.” These Ambassadors participate in the same referral program as regular customers but enjoy extended referral rewards. Ambassadors are automatically qualified when a customer refers at least 5 customers who subsequently refer 100 customers each at least.
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When an Ambassador refers a new customer, and that customer subsequently refers another customer, the Ambassador earns an additional referral reward of $25 for the subsequent referral. The referral rewards for Ambassadors, including the bonus for subsequent referrals, are determined solely by IWM and may be subject to change.
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Should an existing customer share their link with a new customer who is not saved on their contact list, this new customer will appear anonymously as IWM Customer #XX inside the referral tab of the IWM app of the existing customer.

All intellectual property rights remain with IWM or authorized third parties. For the term of the contract, the customer will receive a non-transferable, non-exclusive right to use the IWM app and related services.
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IWM will take appropriate measures to detect and prevent fraud and similar activities. If IWM fails to exercise customary business care in doing so, it will be responsible for any damage caused.
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Any damage that occurs without IWM or the customer having violated the obligation of due diligence will be the responsibility of the party whose sphere of influence the damage is attributable to. The customer is responsible for compliance with applicable legal and regulatory provisions, including those related to taxes and money laundering.
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The customer’s device and software are part of the system, but are outside IWM’s control and may potentially compromise the security of the system. Therefore, IWM recommends that the customer professionally protect their devices and software at all times against electronic attacks and unauthorized access, and avoid sending sensitive or time-critical information, instructions, and booking-related information through unencrypted emails or unprotected electronic communication channels. Instead, the customer should use the channels intended for this purpose by IWM and immediately check any executed transactions. IWM will only be liable for any damage resulting from the use of the aforementioned communication channels if IWM, its employees, or agents violate their duty to exercise due diligence. In particular, IWM is not required to compare information and instructions transmitted by the customer with other information and instructions of the customer. IWM is not responsible for the customer’s devices and software.
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It is prohibited to impair the functionality of the services offered by IWM through activities such as sending mass emails (spam), hacking attempts, brute force attacks, using or sending spyware, viruses, and worms. Violations of these rules will be immediately punished by IWM with a warning, temporary blocking, and/or complete exclusion from the use of the account. IWM reserves the right to take further legal action.

The customer has the right to install the IWM app for their own private use on a mobile device owned by them for the use of the IWM services.
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The customer agrees to store their documents carefully and securely so that unauthorized persons cannot access the information contained therein. The customer will observe all precautionary measures that minimize the risk of fraud or similar activities. In particular, the customer will keep access codes secret to prevent misuse. Any damage resulting from a breach of these duties of care will be the responsibility of the customer. The customer agrees to only store email addresses that are used privately and to which no one else has access. Neither the email address used nor the associated access data may be shared or passed on. Similarly, IWM will only respond to inquiries from the email addresses registered by the customer. The customer is required to only make inquiries through the private email address with which they registered or, preferably, via the chat functionality on the app. IWM Zurich AG is not obliged to respond to queries from email addresses that are not registered.

The customer agrees to indemnify IWM for all claims, including claims for damages, made by other customers or third parties, including authorities, against IWM due to a violation of rights or duties by the customer through the use of IWM’s services.
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The customer is liable for all costs, including legal costs, incurred by IWM as a result of the customer’s infringement of third-party rights. IWM reserves the right to assert further claims in any case. The above obligations only apply where the customer is responsible for the legal infringement or breach of duty in question, i.e., if it was committed knowingly and willingly (intentionally) or if due diligence was neglected.

IWM’s liability for any defects related to the provision of an IWM account is limited to cases where the defect was fraudulently concealed, caused intentionally, or resulted from gross negligence. A defect is defined as any issue that significantly impairs the account’s suitability for its intended contractual use.
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If you encounter any defects, you are required to notify IWM immediately. This notification must be made in writing through our chat service.
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Please note that beyond the remedies explicitly stated above, no additional claims or rights for defects in IWM services exist. Specifically, there is no entitlement to compensation for defects present at the time of contract formation or arising later due to circumstances beyond IWM’s control.

For the use of IWM services, IWM’s liability is limited to willful misconduct, gross negligence and/or the absence of a guaranteed feature.
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In the event of willful misconduct, liability shall be limited to the full amount; in the event of gross negligence and the absence of a guaranteed feature, liability shall be limited to the amount of the typical and foreseeable damage. Any further liability is excluded.
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IWM shall not be liable for acts or omissions of its partner companies. IWM shall further not be liable for delays, errors or defaults caused by circumstances that are out of our control, including, but not limited to, force majeure. IWM reserves the right to make changes and adjustments to the fee regulations. You will also be informed by email and the regulations will be deemed to have been accepted within 30 days if no objection has been raised.
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To the extent permissible by law, IWM expressly excludes all liability for losses due to a delayed or non-performed processing of orders or instructions or losses from securities trading or transactions in financial instruments.

These GTCs enter into force immediately. IWM reserves the right to make changes to them at any time. In the case of any changes, the updated GTCs shall be notified to you by email and shall be deemed approved without objection within 30 days. If no notice of objection is received within this period, which begins after receiving the email, the amended terms and conditions shall be deemed to have been agreed and accepted by you.
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Within the framework of the notice of termination regarding the change to the GTCs, IWM shall inform you separately of your right to object, the objection period and the implication of not raising an objection. Changes to major obligations are excluded.

All fees for services provided by IWM include the applicable value added tax (VAT). IWM may charge fees for IWM services directly on any credit balances and debit them from your account with the Swiss bank. If fees cannot be debited due to insufficient funds in the account, any and all obligations of IWM, including the obligations of our insurance partners, are suspended should you then suffer an insurance incident, the insurance company will not settle the claim.
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The fees charged by IWM are not «bank fees» and are therefore not part of the Swiss bank’s tax statement. IWM reserves the right to make changes and adjustments to the fee regulations. You will also be informed by email and the regulations will be deemed to have been approved within 30 days without objection.
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IWM may invoice special expenditure caused by you, e.g., costs incurred by IWM for seizures or court proceedings against the customer or the termination of the business relationship.

IWM may receive sales commissions or other monetary benefits for our sales activities and associated services on the basis of sales agreements with product providers. These commissions make up part of IWM’s compensation for services provided to you.
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If IWM receives compensation for which the surrender of such compensation could be demanded by you in accordance with Article 400 of the Swiss Code of Obligations or another statutory provision, you shall expressly waive this right of surrender.
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This information in its current form is an integral part of these GTCs. IWM endeavors to avoid conflicts of interest when performing our tasks. If this is not possible, IWM shall ensure that your interests are safeguarded or shall notify you of any conflict of interest in an appropriate manner.

You must notify IWM immediately in the IWM app via chat of all facts that are material to the business relationship (changes of name, address, residence, telephone number or email address, or changes in tax residency change of name may only be communicated via email or IWM app chat and must be accompanied by relevant proof). As soon as electronic documents and notifications from IWM are available to you in the IWM app, they are deemed to have been delivered. IWM uses email as the main communication channel for notifications such as amendments of the GTCs, price adjustments, etc.
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IWM is authorized to communicate via electronic channels (mobile applications and other electronic channels) to the channels (e.g., email address or mobile phone number for mobile applications) used or explicitly provided by you to IWM.
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You acknowledge that unencrypted emails and other unprotected electronic communication channels are not secured against access by unauthorized third parties and therefore involve corresponding risks, e.g., lack of confidentiality, manipulation of content or sender data, misdirection, delay or viruses.

All legal relationships between you and IWM are governed by Swiss substantive law. Zurich will serve as the primary place of jurisdiction and performance, unless mandatory domestic or foreign laws require otherwise.
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However, IWM reserves the right to initiate legal proceedings in any other competent court if necessary.