Legal & Privacy

Terms & Conditions 

Please note: In the event of a conflict between the Danish version and the English version of the document, the Danish version prevails.

1. General conditions

1.1 These terms and conditions apply between Finklusiv ApS, CVR-nr. 41097310, Enghavevej 80C, 2450 Copenhagen SV (“we”, “us” or “Finklusiv”) and the customer (“you”, “you” or “the customer”) regarding the sale and delivery of the products and services offered by Finklusiv. These General Terms and Conditions have been last updated and are effective from 29. June 2022. Special terms for certain products and services may apply and are in addition to the General Terms and Conditions.

1.2 You must be a customer to order services from Finklusiv. Finklusiv supports self-employed professionals, and business owners who are financially excluded, to access a business account for their business. Anyone who is of legal age and entitled to enter into contracts, runs a business, and is approved by Finklusiv following the available procedure, can become a customer of Finklusiv.

1.3 All prices on the website are in Danish Kr. and excl. 25% VAT, which is added thereto. Prices are only valid within the borders of Denmark, excluding the Faroe Islands and Greenland.

Currency changes, force majeure, tax changes.

1.4 A legally binding agreement between you and Finklusiv is only concluded once you have paid the initial administrative fee.

Until you receive an invoice, Finklusiv is entitled to cancel your order in whole or in part.

1.5 If you do not agree to the terms and conditions set out herein, you must refrain from accessing and using our service. If you have any doubts concerning these terms and conditions, please contact contact@finklusiv.dk.

1.6 Finklusiv reserves the right to change these general terms and conditions, including the right to adjust prices following paragraph 3 of these terms and conditions.

2. The agreement and the service

2.1 Finklusiv’s services are provided to end-users in Denmark.

2.2 Information on Finklusiv’s website about products and services is not binding until you and Finklusiv have entered into an agreement, see also section 1.4 and section 2.3.

2.3 The agreement process is initiated after you have completed an application form and received a written response from Finklusiv – i.e. after you have submitted a specific application for support to apply for a business account in a bank, uploaded all necessary documents on the appropriate platform, and paid the administrative/assessment fee.

If the bank has approved Finklusiv’s recommendation of the client’s application for a business account, you must also pay a success fee.

Finklusiv reserves the right to refuse an order without stating the reason.

2.4 If Finklusiv considers that your application has a good chance of being accepted by a Bank, we will work with you to complete any additional documents required and then send a complete application file to a partner Bank together with our recommendation that the Bank enters into a client relationship with you and your business.

2.5 The process is such that Finklusiv informs you of what additional documents are required to build a complete application file according to the partner banks’ requirements. Finklusiv also meets with you, via video conference or a physical meeting, to help you fill in the bank’s templates and assemble any final documents for your file.

As part of the process, Finklusiv offers a course with advice on how best to use a business account, in line with a bank’s expectations. By entering into a client relationship with Finklusiv, the client agrees to follow that course and make every effort to understand the course content.

2.6 If the Client is authorized by the Bank to open both business and personal accounts, s/he may contact Finklusiv for assistance in onboarding the Bank’s systems and opening the accounts.

2.7 The Client relationship ends 3 months after Finklusiv has helped the Client to successfully access business banking products, and performed an exit interview. The client commits to meet Finklusiv in a physical meeting or a telephone meeting for an exit interview.

2.8 Finklusiv gives no guarantee that the bank will approve our recommendation as the bank always makes its own assessment of our recommendations.

2.9 Finklusiv reserves the right to cancel a recommendation if;

A- you have provided incorrect or incomplete information about yourself and/or your business,

B – if you do not send the required documents within 2 months of receiving our request to do so

C- if you are not available to meet at a reasonable time convenient to both parties. Finklusiv will provide at least three different meeting times within normal working hours.

D – if Finklusiv considers, after analyzing your case, that your application will not be accepted by the Bank,

E- in the event of force majeure-like events such as natural disasters, war, political unrest, strike, lockout, blockade, or other impediments to contractual delivery, accidental events, traffic disruptions, adverse weather conditions, or other circumstances beyond Finklusiv’s control. Finklusiv will notify you as soon as possible if such an extraordinary event occurs.

3. Payment 

The service is paid by bank transfer to account Reg.nr.: 5958. Account No: 0002008781  

Your company name should be written in the text field ‘ Text to recipient’ when paying. An invoice is sent when payment is received. The price is as follows: 

Sole traders with turnover < 300.000 kr
– Administrative fee – 1.000 kr
– Success fee (if the business account is approved) – 4.000 kr 

ApS and Sole traders with turnover > 300.000 kr
– Administrative fee – 2.000 kr
– Success fee (if the business account is approved) – 8.000 kr 

The above prices are exclusive of VAT, which is added to the invoice. 

4. Duration and termination 

4.1 The agreement between you and Finklusiv is limited in time. If you do not send the required documents within 2 months of receiving the list of required documents, or if you do not pay the administrative fee within 1 month of receiving the invoice, the agreement is considered terminated.

4.2 An agreement between you and Finklusiv may be terminated by you in certain cases through written notice to Finklusiv. In specific cases, Finklusiv may give notice of dismissal from this.

4.3 Upon termination of an agreement between you and Finklusiv, Finklusiv will not refund the administration fee paid by you, even if you have uploaded the required information and had your application assessed, if Finklusiv has been unable to contact you for a period of more than 30 days after notifying you that Finklusiv has assessed your application. This also applies if you do not continuously cooperate with Finklusiv on the necessary steps.

5. Information available on the website 

We do our best to ensure that all general and business information available on the Website is thorough and error-free. To that end, Finklusiv reviews the content regularly.However, all data available on the Website is provided for informational purposes only. Consequently, the company cannot guarantee or assume any liability for damages or errors resulting from the use of possible erroneous data material on the website. Therefore, we recommend that the Client check for updates or changes to the content of the Website from time to time. 

6. Terms of use of the website 

The information on this website and any website operated for or on behalf of Finklusiv is for information purposes only and shall not be deemed to create a consultant-client relationship or to provide professional advice. Readers are responsible for obtaining such advice from their own advisors. Finklusiv assumes no responsibility or liability arising out of or relating to the use of the Sites or its content. The website may contain links to external websites and links to Finklusiv’s websites. Finklusiv is not responsible for the content or operation of such external websites and disclaims any liability concerning the content or operation of such external websites. 

7. Limitation of liability 

Finklusiv ApS endeavors to ensure that the website is available and functions optimally at all times. Despite this, we do not guarantee that the website will always be available, undisturbed, and error-free. Finklusiv, therefore, accepts no responsibility for errors of the following nature:

a. Technical errors preventing regular use of the website and caused by force majeure events or otherwise;

b. Maintenance works affecting the availability and accessibility of the Website;

c. Damages that can be attributed to the negligent handling of the content of the website by the client; improper or illegal use of the website or other misuse of the individual agreement terms by the client ;

d. unauthorized third party access to the Website or/and our other services; -Conflicts arising between the Client and the other users of the Website; or - Content uploaded by the Client on the Website.

 8. Intellectual property

All works, trademarks, software, or other content displayed on the Website or otherwise provided or made available by us through the Website or the Services are owned by the Company or licensed to us by their owner.

Unless written permission is granted by their rights holders or such permission is granted by contract or by law, shall the Client have neither use nor ownership rights on the above mentioned content.

Accordingly, the Client may not distribute, reproduce or copy, publish, transform or modify, adapt, translate, or otherwise use and exploit the services offered by Finklusiv.

9. Privacy and Cookie Policy

Your use of Finklusivs Website and/or Services may result in the collection and further processing of information, including information of a personal nature.
In line with the applicable regulations in this area, the individual client is continuously informed whenever Finklusiv ApS engages in data processing or data collection of this nature.

See Finklusiv’s data policy for a more detailed information.

10. Links to third-party websites

We are not responsible for websites and content provided by third parties that are linked or embedded in the Services as advertising banners or otherwise included in any website content. Finklusiv ApS is under no obligation to review the content of said websites or the services or products that third parties may offer through them.

Their existence does not imply that Finklusiv endorses, promotes, sponsors, guarantees or recommends the content, services, or products of the linked websites.

Conversely, by using them, the Client acknowledges that other terms and conditions may apply to access and use of said services, products, and websites.

11. Changes to the Website

Finklusiv reserves the right to update, delete, change or modify its services and website and other data material appearing thereon periodically.

As a result, access to our services and website can be restricted periodically.

12. Applicable law and disputes

The rights and obligations of the parties under these Terms shall be governed by Danish law.

Privacy Policy

Please note: In the event of a conflict between the Danish version and the English version of the document, the Danish version prevails.

Finklusiv ApS is a business registered with the Danish Business Authorities with CVR number 41097310.

Our website address is: www.finklusiv.dk.

This privacy policy applies to all personal data that you provide to us and/or that we collect about you as part of your use of Finklusiv ApS or when you otherwise have any interaction with us.

Finklusiv Aps processes your personal data in accordance with the rules of the Data Protection Regulation of the European Parliament and of the Council (EU) 2016/679 of 27 April 2016 and the additional Data Protection Act

Data controller

Finklusiv ApS
CVR: 41097310
Enghavevej 80c
2450, Copenhagen SV
info@finklusiv.dk

Why we are allowed to process information about you

When we ask you for information, it is voluntary for you to give it to us. If you do not want to, it may mean that we cannot serve you or provide you with certain services. 

The basis on which we process your personal data falls into four categories:
– Your consent
– To fulfill the contract with you
– Because we have a legal obligation
– Our legitimate interest.
– Marketing 

You can read more about them below. 

Your consent 

Finklusiv ApS processes personal data about you because you have consented to this. This may, for example, be in connection with an initial enquiry from you to us, or if you have visited our website. The legal basis for this is Article 6(1)(a) of the Data Protection Regulation. Your consent is given voluntarily and if you have given it to us, you can withdraw it at any time by contacting us. We will then inform you of any consequences of the withdrawal. The legal basis for this is Article 6(1)(a) of the Data Protection Regulation. 

In order to fulfill the contract with you 

Finklusiv ApS also processes personal data about you because we need to fulfil a contract with you. When you are a customer of Finklusiv ApS, we have entered into a contract. In order to fulfil this contract, we need to process your personal data. This may also occur in connection with the issuance of invoices or similar transactions necessary for the customer relationship. The legal basis for this is Article 6(1)(b) of the Data Protection Regulation. 

Because we have a legitimate interest in doing so 

Finklusiv ApS processes personal data about you because we have a legitimate interest in doing so. The legal basis for this is Article 6(1)(f) of the Data Protection Regulation. This can happen if we assess that our legitimate interest in processing the data overrides your fundamental rights. This would be, for example, for the prevention of misuse and loss, the enhancement of IT security and direct marketing activities. The legal basis for this is Article 6(1)(f) of the Data Protection Regulation. 

To fulfill a legal obligation 

We may be obliged to disclose information to public authorities in certain cases, for example for the purposes of preventing money laundering, financial crime, or similar events. The legal basis is Article 6(c) and (e) of the Data Protection Act. 

For marketing purposes 

We process your personal data for marketing purposes, as well as for analyses that we use internally in Finklusiv ApS. The legal basis for our processing of personal data for marketing purposes is our legitimate interest in being able to communicate with you. The legal basis for this is Article 6(1)(f) of the Data Protection Regulation. 

If you do not wish to receive marketing material from Finklusiv ApS, you can object at info@finklusiv.dk 

Web browser cookies 

Finklusiv’s website uses “cookies” to improve the users experience. Users’ web browsers store cookies on their hard drives for record-keeping purposes and sometimes to track information about them. Users can choose to set their browser to reject cookies or alert you when cookies are being sent. However, the User should be aware that certain parts of the Website may then have reduced functionality. 

How we use your personal data 

The purpose of processing your personal data is customer management. We process information about you in order to be able to advise you in the best possible way on how to build a good application file in the best way to get a business account in a bank, and how to build a good relationship with your bank so that you can achieve a long-term cooperation with it. 

In doing so, we will pass on your personal data to the bank. 

We process your personal data for marketing purposes, as well as for analyses that we use internally in Finklusiv ApS.

If you do not wish to receive marketing material from Finklusiv ApS, you can object at info@finklusiv.dk 

Supplier / Collaborators 

If you cooperate with or are a supplier to Finklusiv ApS, we may process personal data about you. The purpose of the processing is to obtain the service that we have agreed with you or your employer, including that we can communicate with you and/or the company you work for. 

We use Meo as a third-party service provider that stores your personal data. All data is stored encrypted and cannot be accessed or processed by anyone other than those you have specifically granted access. You can manage the content and information you share when using Meo by logging in via www.meo.io. You can also download information associated with your Meo account through www.meo.io. You can read more about Meo’s privacy policy here. 

You have visited our Facebook page 

If you have visited Finklusiv ApS on Facebook, Facebook has placed cookies on your computer or other medium you have used to visit the page. We are joint data controllers with Facebook, for this processing of your personal data. The purpose of this processing is to get a better knowledge of you who visits Finklusiv ApS on Facebook. 

You must contact Facebook if you wish to exercise your rights in relation to Facebook. If you wish to use your rights in relation to the information that we have obtained in this way, you must contact us as set out in this personal data policy 

You have visited our LinkedIn page 

If you have visited Finklusiv ApS on LinkedIn, LinkedIn has placed cookies on your computer or other medium you have used to visit the page. We are joint data controllers with LinkedIn, for this processing of your personal data. The purpose of this processing is to get to know you better as a visitor to Finklusiv ApS on LinkedIn. 

You should contact LinkedIn if you wish to exercise your rights in relation to LinkedIn. If you wish to use your rights in relation to the information that we have obtained in this way, you must contact us as set out in this personal data policy 

What personal data do we process? 

Depending on the nature of your inquiry to Finklusiv ApS, we collect a number of personal data about you.

It is important to emphasise that we only collect information that is necessary for each purpose, and this list does not necessarily reflect all the information that we have collected about you in particular. You are always welcome to contact us if you want to know what personal data we process about you. 

Identifying information including; name, gender, social security number, email and telephone number. 

Other identifying information may include: place of birth, education and employment, marital status, residence status, ID cards such as passport, driving licence and health insurance card. 

Your relationships, including; family relationships, guardian and power of attorney relationship. 

Information on assets, including; property details, car and other means of transport, securities held in custody, and other assets. 

Other information, including; advice notes, client reports and statements, client complaints, correspondence, meeting documents, payments, consent forms and valuation information. 

Basis for advice, including; finances, credit situation, tax information, credit conditions, customer needs, dreams and aspirations, sales opportunities and sales strategies.

Transactions, including; trades and orders, banking transactions, credit card transactions and payments. 

In Finklusiv ApS we do not collect and process sensitive personal data about you. However, if you yourself provide us with information that contains sensitive personal data, for example, information from a meeting or a budget, about your health or that you are a member of a particular trade union, Finklusiv ApS considers this to be your express consent to the processing of this information. Our legal processing basis for this is Article 9(2)(a) of the GDPR. We do not process this information in other contexts and it is deleted when it is no longer relevant.  

When do we delete your personal data? 

We continuously assess when it is no longer necessary to keep your data. In doing so, we consider, among other things, the need for the data to be available to you within the statute of limitations and the need to document our advice. 

We do not delete your personal data as long as we provide a service or product to you. We keep specific information for a longer period of time. This will be information that needs to be retrievable under legislation e.g. the Money Laundering Act.  

Disclosure of your personal data 

In order to fulfil the terms of our agreements with you, we need to transfer your personal data to other companies that provide contractual services to us. We may use data processors in third countries outside the EU and EEA. The use of other companies is based on data processor agreements or other contract and we have ensured that the rights and level of protection accompany your personal data. We may also share your information with competent courts and authorities when we are legally obliged to do so (for example, to allow such bodies to investigate, prevent or act against unlawful activities) or we need to take action to protect our rights or the rights of third parties. 

Profiling and automated decisions 

Our processes may in some cases be partially automated, and therefore an automatic evaluation of your personal data takes place, for example to analyse your financial situation. Before a decision is taken, the processing will always be passed by a staff member who has the necessary competence and possibility to change the decision before the case is closed. The Company enters into written agreements with all sub-processors involved in the provision of the Services, including the safeguards and guarantees required under the General Data Protection Regulation (EU Regulation No 679 \ 2016, “GDPR”), in particular with regard to the implementation of security measures required by the GDPR. With respect to data breaches, we will notify you without undue delay when we confirm that a data breach affecting personal data has been detected. We will provide you with sufficient information to enable you to comply with any obligations to report or inform competent authorities or data subjects. We will cooperate with you and take reasonable commercial steps as directed by you to assist in the investigation, mitigation and remediation of each such data breach. For the avoidance of doubt, you are responsible for both filing reports required by applicable law and notifying data subjects, and you shall defend, indemnify and hold us harmless from any costs (including attorneys’ fees), fines or penalties, or any damages that failure to act on your part may cause. 

Your Rights 

Under the Data Protection Rules, you generally have the right to: 

• access the information we process about you and a range of other information
• object to our processing of the data
•  ask for inaccurate information about yourself to be corrected
•  in specific cases, ask for your personal data to be deleted or for processing to be restricted.
•  In certain cases, the right to transmit the data (data portability)

 You should contact us if you wish to exercise your rights. You can read more about your rights below and in the Data Protection Supervisor’s Guidance on the Rights of Data Subjects. You can find the guide on datatilsynet.dk. 

Right to see information (Right of access) 

You may at any time access the personal data that we have recorded about you. This right may be limited for reasons of protection of other people’s data. 

Right to object 

In some instances, you have the right to object to our otherwise lawful processing of your personal data.You may object to the processing of your data for marketing purposes. Right of rectification (Correction)You have the right to have inaccurate information about yourself corrected and we will, where possible, keep your information up to date ourselves. 

Right to erasure 

In exceptional cases, you may have information about you deleted before the time of our general deletion. This right may be limited for our or others’ legitimate interests including we may be required to retain information for longer periods. 

Right to restriction of processing 

In some instances, you have the right to have the processing of your personal data restricted. If you have the right to have processing restricted, we may only process the data in the future – other than storage – with your consent, or for the establishment, exercise or defence of legal claims, or to protect an individual or important public interests. 

Right to transmit data (Data portability) 

In certain cases, you have the right to receive your personal data in a structured, commonly used and machine-readable format and to have those personal data transferred from one controller to another without hindrance. You should contact us if you wish to exercise your rights. You can do this by contacting our data controller : The data controller of Finklusiv ApS Marie B. Olafsdottirmarie@finklusiv.dk 

Complaint to the Danish Data Protection Authority 

If, contrary to expectations, you believe that we are not processing your personal data in accordance with the law, please contact us. You can write to us by e-mail and we will deal with your enquiry as soon as possible so that any misunderstandings can be corrected.You also have the right to lodge a complaint with the Data Protection Authority. You can find the contact details of the Data Protection Agency at www.datatilsynet.dk 

Version 4th February 2024

Cookie Policy

Please note: In the event of a conflict between the Danish version and the English version of the document, the Danish version prevails.

When you submit data to through a form such as those found on contact pages or comment forms cookies may be set to remember your user details for future correspondence.

How We Use Cookies

We use cookies for a variety of reasons detailed below. Unfortunately is most cases there are no industry standard options for disabling cookies without completely disabling the functionality and features they add to this site. It is recommended that you leave on all cookies if you are not sure whether you need them or not in case they are used to provide a service that you use.

Disabling Cookies

You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. Disabling cookies will usually result in also disabling certain functionality and features of the this site. Therefore it is recommended that you do not disable cookies.

what personal data we collect and why we collect it

contact forms

When you submit data to through a form such as those found on contact pages or comment forms cookies may be set to remember your user details for future correspondence. 

third party cookies

In some special cases we also use cookies provided by trusted third parties. The following section details which third party cookies you might encounter through this site.

An updated list of Finklusiv's Sub-Processors can be found here:

List of Sub-Processors

Social Policy/Mission Statement

Finklusiv is committed to fostering social inclusion and supporting the financial well-being of underbanked business owners in Denmark. As a social enterprise, our mission is to promote social and community benefits through our operations, according to the definition by the Danish Business Authority. We strive to be an independent, responsible, and inclusive enterprise, ensuring that our profits are managed in a way that furthers our social mission by reinvesting in our company and expanding our impact.

Our social objectives guide every decision we make, from designing services that empower entrepreneurs to forming partnerships that increase financial access for those in need. Finklusiv is dedicated to creating economic opportunities for low-income individuals, helping them transition from social support to financial independence, while also contributing to the broader economy through tax revenues generated by the businesses we assist.

Socially Responsible Business Practices

Finklusiv integrates socially responsible business practices throughout our operations. This commitment includes:

1. Social Purpose: Our primary goal is to create financial inclusion by bridging the gap between under-banked business owners and financial institutions.
2. Independence: We operate independently of public entities, ensuring that our social impact is driven by our own initiatives and values.
3. Reinvestment of Profits: In line with our social enterprise status, a minimum of 65% of profits generated are reinvested into our business to expand our social impact, rather than distributed to shareholders.

Principles of Social Economy

When developing new products and services, Finklusiv adheres to innovative models of social enterprise to maximize social impact. These include:

• The Entrepreneur Support Model: We provide business support services to help entrepreneurs in our target population start and grow their businesses, offering consulting, training, and technical assistance.
• The Low-Income Client Model: We design services specifically for low-income clients, ensuring that our offerings remain affordable and accessible.
• The Market Linkage Model: We act as a bridge, connecting our clients to markets for their products and services, without directly selling or marketing these products on their behalf.
• The Service Subsidization Model: We generate revenue through our services and use these funds to subsidize social programs that benefit our clients and their communities.

Commitment to Affordability and Partnerships

Finklusiv is dedicated to making our services affordable for clients with limited financial resources. We maintain a significant discount policy for our smallest clients and actively pursue partnerships with organizations that can subsidize services for our most financially vulnerable clients.

Client Involvement and Feedback

We believe in the importance of involving our clients in shaping our services. Finklusiv conducts client interviews at least every five years to ensure our offerings remain relevant and impactful. We also continuously gather feedback from our clients and incorporate it into our service development process.

Tracking Social and Economic Impact

Finklusiv systematically monitors the social and economic impact of our activities. This includes tracking our clients' progress towards financial independence, assessing their contributions to society through tax payments, and measuring the overall ESG (Environmental, Social, and Governance) parameters of our operations. We are committed to understanding and improving the social outcomes of our work, ensuring that our services contribute to a more inclusive and equitable society.

By embedding these principles into our business model, Finklusiv reaffirms its dedication to fostering social inclusion and supporting the growth and success of underbanked entrepreneurs across Denmark.

Environmental Policy/Mission Statement

Finklusiv is committed to protecting the environment, the health and safety of our employees, and

the community in which we conduct our business. It is our policy to seek continual improvement

throughout our business operations to lessen our impact on the local and global environment by

conserving energy, water and other natural resources; reducing waste generation; recycling and;

reducing our use of toxic materials. We are committed to environmental excellence and pollution

prevention, meeting or exceeding all environmental regulatory requirements, and to purchasing

products which have greater recycled content with lower toxicity and packaging, that reduce the use

of natural resources.

Environmentally Preferable Purchasing (EPP) Policy

The goal of this policy is to ensure that products and services purchased or contracted for conform to

the goals of our company’s environmental policy. We will strive, where feasible, to purchase

environmentally preferable products and services to meet the company’s office and operational

needs. We will also favor suppliers who strive to improve their environmental performance, provide

environmentally preferable products, and who can document the supply chain impacts of their

efforts.

Wherever possible, purchasing decisions will favor products that:

⦁ Reduce greenhouse gas emissions.

⦁ Are made with renewable energy.

⦁ Reduce pollution from all discharges (releases to air, water, and land).

⦁ Reduce the use of toxic materials hazardous to the environment, employees and public health.

⦁ Contain the highest possible percentage of post-consumer recycled content.

⦁ Reduce packaging and other waste.

⦁ Are energy efficient.

⦁ Conserve water.

⦁ Are reusable and/or durable.

⦁ Minimize transportation (local sources, concentrated products).

⦁ Serve several functions (examples: copiers/printers, multipurpose cleaners) to reduce the number

of products purchased.

Environmentally preferable products and services that are comparable in quality to their standard

counterparts will receive a purchasing preference. In situations where the most environmentally

preferable product is unavailable or impractical, secondary considerations will include production

methods and the environmentally and socially responsible management practices of suppliers and

producers. Environmentally preferable purchasing is part of our long term commitment to the

environment. By sending a clear signal to producers and suppliers about this commitment, we hope

to support wider adoption of environmentally preferable products and practices.