Terms of Service

Last Updated: [16 December 2024]

The Y1 Card offers two virtual card services: Jini Card (by Jini Money) for bank Fixed Deposits (FDs) and Magmaven Card (by Magmaven Wealth) for digital gold and silver investments. By accessing or using the Y1 Card services, you agree to comply with and be bound by these Terms of Service.

1. Acceptance of Terms

By registering, accessing, or using any Y1 Card services, you agree to these Terms of Service. If you do not agree, you must discontinue use immediately.

2. Eligibility

The Y1 Card services are available to:

• Indian residents only.
• Individuals aged 18 years and above.
• Users with valid government-issued identification (e.g., PAN, Aadhaar).

3. Services Offered

Jini Card (by Jini Money):

• Facilitates investments in bank Fixed Deposits (FDs) through partner banks and NBFCs.

Magmaven Card (by Magmaven Wealth):

• Enables investments in digital gold and silver via our trusted providers.

4. User Responsibilities

As a user of Y1 Card, you agree to:

• Provide accurate and up-to-date information during registration and while using the services.
• Maintain the confidentiality of your account credentials.
• Comply with all applicable laws, including tax laws and investment regulations.
• Not use the services for any fraudulent, illegal, or unauthorized purpose.

5. Service Fees and Charges

Y1 Card services may include fees or commissions charged on specific transactions or premium features. All applicable charges will be communicated to you during the transaction process.

6. Disclaimers

• Y1 Card acts as a facilitator and does not directly manage or guarantee the investments in bank FDs or digital gold/silver.
• Investment returns are subject to the terms and conditions of partner financial institutions.
• Past performance of any investment product is not indicative of future results.

7. Limitation of Liability

Skate Lab Private Limited, its affiliates, and partners shall not be liable for:

• Any loss or damage arising from the use or inability to use the services.
• Errors, interruptions, or delays in service due to technical issues or force majeure events.
• Losses arising from investments made through the Y1 Card platform.

8. Account Suspension and Termination

We reserve the right to suspend or terminate your account if you:

• Violate these Terms of Service.
• Provide false or misleading information.
• Engage in fraudulent or illegal activities.

9. Privacy Policy

Your use of Y1 Card services is subject to our Privacy Policy, which explains how we collect, use, and protect your personal information.

10. Governing Law and Dispute Resolution

These Terms of Service shall be governed by the laws of India. Any disputes arising out of or related to these terms shall be resolved through arbitration under the Arbitration and Conciliation Act, 1996, with the seat of arbitration in Delhi/Gurgaon.

11. Changes to Terms of Service

We may update these Terms of Service from time to time. Any changes will be communicated through our website or app. Continued use of the services after changes are made constitutes acceptance of the updated terms.

12. Contact Us

For any queries or concerns about these Terms of Service, please contact us at:

Skate Lab Private Limited
Email: support@y1card.com
Address: Y1 Headquarter, Station Road, Begusarai, 851101, Bihar, India

By using the Y1 Card services, you acknowledge that you have read, understood, and agree to these Terms of Service.

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