Terms & Conditions Sweden

By registering an account with Steven you agree and comply by the following Terms of Use as amended from time to time. Together with our Privacy Policy, and any other terms and conditions referred to therein, they form the legal relationship between you and us. You are advised to print or download and keep a copy of these Terms for future reference. You can always view the current Terms in the App or on our Website.

Steven provides a service that makes peer-to-peer (“p2p”) group payments possible through a mobile and tablet Application. The Steven application is provided by PEI Development AB, reg. no. 559026-5673, and with registered offices at Döbelnsgatan 12, 113 58 Stockholm, Sweden. We are authorised to issue electronic money (“e-money”) by the Swedish Financial Services Authority under the Electronic Money Regulations 2011 (firm reference number 48004).

Demands on the Steven Account holder. You must:

  • Be at minimum 18 years old
  • Must act on behalf of yourself, you are not allowed to register or use Steven on behalf on anyone else
  • Notify us if any information regarding you or your Account should change

Your Steven Account

  • Your Account is an e-money account which enables you to send and receive electronic payments. Electronic money is a digital alternative to cash. When you give us money we issue an equivalent value of e-money.
  • E-money accounts are not bank accounts. By accepting these Terms you acknowledge that your Account is not a bank account and is therefore not insured by the Swedish governments guarantee on deposits. However, we strictly adhere to the European Electronic Money Directive and Swedish national legislation including Lag (2011:755) om elektroniska pengar which are designed to ensure the safety and liquidity of funds deposited. We make sure the funds connected to your e-money is safeguarded by being held in a separate account from that of the company funds.
  • You have the right to withdraw funds from your Account at any time.
  • The e-money on an Account belongs to the person who is registered as the Account holder. You may not assign or transfer your Account to a third party or otherwise grant any third party legal interest over it.
  • The e-money held on your Account does not expire but it will not earn any interest.

Creating your Account

  • In order to use our payment services you must first open an Account by registering your details. As part of the signup process you accept these Terms and our Privacy Policy.
  • You may only open one Account.
  • You may only register or use Steven on behalf of yourself.
  • You may only open an Account if it is legal to do so in your country of residence. By opening an Account you represent and warrant to us that it does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of this section.
  • All information you provide during the signup process or any time thereafter must be accurate and truthful.
  • You may only add payment instruments (such as bank accounts, credit cards or debit cards) to your Account if you are the named holder of that payment instrument.
  • You must be 18 years or older to use our services.
  • You are allowed to use your Account for private purposes only. You are thus not allowed to use your Account for commercial purposes.
  • You may close your Account at no cost by contacting Customer Service.

Using your Account

  • Your account should only be used for group payments and for sorting out costs in social settings.
  • You must ensure that the information recorded on your Account is always accurate and up to date and we shall not be liable for any loss arising out of your failure to do so. We may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence.
  • We may contact you with notifications in the App, by phone or via e-mail with information or notices regarding your Account. It is your responsibility to regularly check the proper functioning of your e-mail that you have registered to retrieve and read messages promptly. We shall not be liable for any loss arising out of your failure to do so.
  • Fund uploads, received payments, sent payments and fund withdrawals are displayed in your transactions history.
  • Request of funds from other users must include a description of what the request is for.
  • Subject to the provisions of “Uploading Funds” below in order to claim a refund for an unauthorized or incorrectly executed payment transaction on your Account you must notify us without undue delay after becoming aware of the unauthorized or incorrect transaction and in any event no later than thirteen (13) months after the debit date of the transaction.

Uploading funds

  • You may be presented with several different upload payment methods. Upload methods are payment services provided by third party financial institutions (for example, the issuer of the payment card you use) and are not part of our service. We do not guarantee the use of any upload method made available and may make changes to or discontinue the acceptance of any particular upload method at any time without following the procedure set out in “Changes to these Terms of Use”.
  • If you choose an upload method that may be subject to chargeback rights such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such chargeback right other than for unauthorized use of the payment instrument or for a breach by us of these Terms. We reserve the right to charge you Fees and expenses we incur in connection with such chargeback and any action undertaken to challenge the same.
  • Uploaded funds will be credited to your Account after the funds have been received by us. Some upload transactions will be credited to your Account immediately but are subject to reversal in case the actual funds do not reach us within a reasonable time in which case we will deduct such reversed transaction from the balance of your Account. If your Account balance is insufficient, we reserve the right to require repayment from you.
  • We may offer credit options for uploading of funds via third party payment provider Klarna. Please see www.klarna.com for more information or assistance with ongoing Klarna payments.
  • You must not make an upload through a payment instrument if you are not the named holder of that payment instrument.
  • Uploads may be subject to upload limits due to security and legal requirements. The limits can change from time to time.

Sending funds

  • To send a payment you are required to authorize the payment with your pass-code. We may also ask you additional security questions relating to you or your Account.
  • Once funds are credited to the recipient’s Account, the transaction becomes irreversible.
  • Payments may be subject to payment limits due to security and legal requirements. The limits can change from time to time.

Receiving funds

  • You must only request payments for undisputed amounts that a person owes you and that are due for payment in full. You may not use this service more than once for the same payment you request. This service may not be used as a debt collection or enforcement tool. When using this service, you must ensure that you have the right to contact the person you are claiming from. You are strictly prohibited from requesting money from someone that does not owe you the amount requested; would be ineligible to open an Account (for example minors); or has not given or has withdrawn his or her consent to receive a request for payment and we shall have the right to claim any damages or losses arising out of your breach of this section.
  • If you receive funds into your Account, we will send a notification within the App and display the payment in your transactions history.
  • You should be aware that receipt of funds to your Account does not necessarily mean that these transactions cannot be reversed. We reserve the right to reverse a payment in case the payer or the payer’s bank or payment service provider has charged back or otherwise reversed (or is reasonably likely to charge back or otherwise reverse) an upload or other payment which was used to fund the payment to you.
  • We may limit the amount of funds you can receive due to security and legal requirements. The limits can change from time to time.

Withdrawing funds

  • You can request a withdrawal of all, or part of the funds held in your Account at any time. Withdrawal methods are payment services provided, at least in part, by third party financial institutions (for example, the bank where you hold a bank account). We do not guarantee the availability of any particular withdrawal method and may make changes to or discontinue a withdrawal method at any time as long as there is at least one withdrawal method available to you.
  • Withdrawals usually take 1-3 bank days to reach the account you have chosen for payout.
  • Where the withdrawal payment is received by you through the involvement of a payment service provider (such as the bank where you hold a bank account), we shall not be responsible for the withdrawal payment once the withdrawn funds are received by your payment service provider.
  • Your Account is subject to withdrawal limits. The limits can change from time to time.
  • Withdrawals may be subject to withdrawal Fees and currency conversion Fees depending on which withdrawal method and payment instrument is chosen.
  • You must not make a withdrawal to a bank account or other payment instrument if you are not the named holder.
  • You must ensure that the payment details you enter when withdrawing funds are correct and complete. We will not be liable for withdrawn funds being sent to the wrong payment instrument where this is due to you providing incorrect payment details. If you have withdrawn funds to the wrong payment instrument, you may request that we assist you in reclaiming the funds, however, we will charge you an administration fee of up to 50 EUR for doing so and we cannot guarantee that the reclaim efforts will be successful.

Closing your Account

  • You may close your Account at any time by contacting Customer Service through the app.
  • If your Account holds a balance at the time of its closure, we will ask you to withdraw your funds. You may withdraw any remaining funds by contacting Customer Service and requesting that the funds are sent to you in a manner that is reasonably acceptable for us. You may do so for a period of six years from the date of closure of your Account but we suggest that you withdraw your remaining funds as soon as possible as they will not earn any interest while being deposited.
  • We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorizing any withdrawal of your funds, including in relation to returning any funds to you after you have closed your Account.

Account safety

  • You must take all reasonable steps to keep your Account safe at all times and never disclose passwords or pass-codes to anyone. Our personnel will never ask you to provide your password or pass-code to us or to a third party. You must never allow anyone to access your Account or watch you accessing your Account.
  • If you have any indication or suspicion of your Account, login details, password or other security feature being lost, stolen, used without authorization or otherwise compromised, you are advised to change them. You must contact Customer Service without undue delay on becoming aware of any loss, theft or unauthorized use of your Account, login details, password or other security features. Any undue delay in notifying us may not only affect the security of your Account but may result in you being liable for any losses as a result. If you suspect that your Account was accessed by someone else, you should also contact the police and report the incident.
  • We may suspend your Account or otherwise restrict its functionality on reasonable grounds relating to the security of the Account if we reasonably suspect that an unauthorized or fraudulent has occurred or that any of its security features have been compromised. We will notify you of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless notifying you would be unlawful or compromise our reasonable security interests.
  • You must take all reasonable care to ensure that your e-mail account(s) are secure and only accessed by you. In case the e-mail address registered with your Account is compromised, you should without undue delay after becoming aware of this contact Customer Service and contact your e-mail service provider.
  • Irrespective of whether you are using a shared or your own device to access your Account, you must always ensure that your login details are not stored by the browser or cached or otherwise recorded.


  • In case of an unauthorized payment or a payment that was incorrectly executed due to an error by us, we shall at your request immediately refund the payment amount including any Fees deducted therefrom. This shall not apply:
    • if you fail to notify us without undue delay of any loss of your password or pass-code or other event that could reasonably be expected to have compromised the security of your Account after you have gained knowledge of such event in which case you shall remain liable for losses incurred up to your notification to us;
    • if the transaction was unauthorized but you have compromised the security of your Account with intent or gross negligence in which case you shall be solely liable for all losses; or
    • if you fail to dispute and bring the unauthorized or incorrectly executed transaction to our attention within 13 months from the date of the transaction.
  • Without prejudice to the foregoing, you are asked to check the transactions history of your Account regularly and frequently and to contact Customer Service immediately in case you have any questions or concerns.
  • We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.
  • Indemnification/re-imbursement. You agree to defend, reimburse or compensate us and hold us and our other companies in our corporate group harmless from any claim, demand, expenses or costs (including legal Fees, fines or penalties) that we incur or suffer due to or arising out of your or your agents’ breach of these Terms, breach of any applicable law or regulation and/or use of the services. This provision shall survive termination of the relationship between you and us.


  • The processing of your data is governed by our Privacy Policy. By accepting these Terms, you also agree to the terms of our Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms.
  • As a default, you will receive notifications in the App that will inform you about new product features, events, promotions, special deals etc. By accepting these Terms, you agree to receive such notifications on a regular basis. If you do not wish to receive any notification from us, you can opt out at any time by changing the appropriate setting on your phone.

Prohibited transactions

  • It is strictly forbidden to send or receive payments as consideration for the sale or supply of: Tobacco products. Prescription drugs. Drugs and drug paraphernalia. Weapons (including without limitation, knives, guns, firearms or ammunition). Satellite and cable TV descramblers. Pornography, adult material, material which incites violence, hatred, racism or which is considered obscene. Government IDs and licences including replicas and novelty items and any counterfeit products. Unlicensed or illegal lotteries or gambling services. Unregistered charity services Items which encourage or facilitate illegal activities. Prepaid debit cards or other stored value. Payment aggregation products or services. Multi-level marketing, pyramid selling or ponzi schemes, or other “get rich quick” schemes or high yield investment programs. Goods or services that infringe the intellectual property rights of a third party. Timeshares or property reservation payments (On and Off Plan). We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories to these Terms.
  • We reserve the right to suspend or terminate your Account at any time if we reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.
  • It is strictly forbidden to make payments to or to receive payments from persons or entities offering illegal gambling services. We may suspend or terminate your Account at any time or refuse to execute or reverse a transaction if we believe that you directly or indirectly use or have used your Account for or in connection with illegal gambling transactions.
  • It is strictly forbidden to use your Account for any illegal purposes including but not limited to fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency.

If you conduct or attempt to conduct any transaction in violation of the prohibitions contained in this section or without the necessary approval, we reserve the right to: reverse the transaction; and/or close or suspend your Account; and/or report the transaction to the relevant law enforcement agency; and/or claim damages from you; and charge you an administration fee of up to 200 EUR in case we apply any of the above.


  • We may terminate your Account or any payment service associated with it by giving you two months’ prior notice. You may terminate your Account with us at any time. Different termination provisions may apply if you use your Account for commercial purposes.
  • Together with a termination notice or at any time thereafter we may give you reasonable instructions on how to withdraw remaining funds.
  • We may at any time suspend or terminate your Account without notice in case:
    1. you breach any condition of these Terms or any other condition applicable to specific services covered by separate terms and conditions;
    2. you violate or we have reason to believe that you are in violation of any law or regulation that is applicable to your use of our services; or
    3. we have reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.
  • We may suspend your Account at any time if:
    1. we reasonably believe that your Account has been compromised or for other security reasons; or
    2. we reasonably suspect your Account to have been used or is being used without your authorization or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify you.

Premium services

  • In addition to the free features that Steven provides there are also premium membership upgrades available. These upgrades unlock more services to you as a user such as additional payment services or frequency of usage for a particular feature. We may offer a number of membership plans, including special promotional plans. Some membership plans may have differing conditions and limitations, which will be disclosed at your sign-up or in other communications made available to you. You can find specific details regarding your membership by checking your profile in the app.
  • Your premium membership may start with a free trial. The duration of the free trial period of your membership will be specified during sign-up and is intended to allow new members and certain former members to try the service.
  • Free trial eligibility is determined by Steven at its sole discretion and we may limit eligibility or duration to prevent free trial abuse. We will charge the membership fee for the next billing cycle at the end of the free trial period unless you cancel your membership prior.
  • Payment for your premium services will be charged through your iTunes or Google play account and will be charged on the specific billing date indicated on your “Account” page. The length of your billing cycle will depend on the type of subscription that you have.
  • Your subscription for a chosen premium service will automatically renew every month or year (depending on the subscription you have chosen) unless you give us notice to end it before the automatic renewal. Payments are non-refundable and we do not provide refunds or credits.
  • Fees are subject to change in accordance with the section “Changes to these Terms of Use” below.
  • If you have signed up for one of our premium subscriptions but not used any of its features, you have the right to cancel the subscription with a full refund within 14 days. Contact our support for this.

Changes to these Terms of use

  • These Terms and any additional terms and conditions that may apply are subject to change. Changes will be implemented with prior notice from us under the procedure set forth in this section.
  • We shall give notice to you of any proposed change by sending a notification in the App.
  • The proposed change shall come into effect one (1) month after the date of the change notice, unless you have given us notice that you object to the proposed changes before the changes come into effect. Changes that make these Terms more favourable to you shall come into effect immediately if so stated in the change notice. Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.
  • If you object to the changes, they will not apply to you, however, any such objection shall constitute a notice by you to terminate and close your Account. Your Account will be closed in accordance with the provisions of the Closing Your Account section above.

How we communicate

  • We usually communicate to you via the App. You are required to check for messages regularly and frequently. Any communication or notice sent will be deemed received by you on the same day.
  • Where legislation requires us to provide information to you on a durable medium, we will either send you an e-mail (with or without attachment) or send you a notification pointing you to information on our Website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference.
  • You can request a copy of the current Terms or any other contractual document relevant to you by contacting Customer Service.
  • We will communicate to you in English and will always accept communications made to us in English. Documents or communications in any other languages are for convenience only and shall not constitute an obligation on us to conduct any further communication in that language.
  • Apart from communicating via notifications in the App, we may contact you via email or telephone. Any communication or notice will be deemed received the same day.
  • You may contact us at any time by sending a message to Customer Service via the “Support” facility within the App.


  • Any complaints about us or the services we provide should be addressed to us in the first instance by contacting Customer Service. You should clearly indicate that you are wishing to make a complaint to us. This helps us to distinguish a complaint from a mere query. We send you a complaint acknowledgement via notification in the App or via e-mail within 48 hours of receiving your complaint in accordance with our complaints procedure.
  • We endeavour to provide you with an answer or resolution to your complaint within the timeframes as outlined by the Financial Ombudsman Service. Should this not be possible due to unforeseen circumstances or lack of information, we will contact you.


  • No person other than you shall have any rights under these Terms.
  • Your Account is personal to you and you may not assign any rights under the Terms to any third party.
  • Your Account is operated in Sweden and these Terms shall be governed by and interpreted in accordance with Swedish law. Any dispute under these Terms or otherwise in connection with your Account shall be brought exclusively in Swedish except where prohibited by EU law.
  • If any part of these Terms is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of the Terms, which shall continue to be valid and enforceable to the fullest extent permitted by law.
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