nuri legal section

§ 1 – Scope of Application


These general terms and conditions ("General Terms and Conditions") apply to the entire business relation between the customer and Nuri GmbH (f/k/a Bitwala GmbH) ("Nuri") in its capacity as the operator of the www.nuri.com web application (the "Web Application") and Nuri's mobile application (the "Mobile Application"); the Web Application and the Mobile Application are hereinafter also collectively referred to as "Nuri Apps", and individually “Nuri App” unless expressly agreed otherwise. 


The scope of application includes both Nuri GmbH's activities as a tied agent of Solarisbank AG ("Solaris") in relation to the purchase and sale of Bitcoins and other digital assets on Nuri App and the services provided by Nuri in its own name. 


The customer's contractual relationship with Solaris will additionally be governed by the general terms and conditions of Solaris and other contracts to be concluded separately with Solaris. 


The sole parties to this contract are the customer and Nuri. 


The customer will enter into a separate agreement on the management of the private keys for the customer's cryptocurrencies stored in a non-custodial Bitcoin wallet (the "Bitcoin Vault"). The sole parties to the latter agreement will be the customer and BitGo, Inc. ("BitGo"). The legal relationship between the investor and BitGo will be exclusively governed by the contractual terms, in particular, BitGo's general terms and conditions , as amended from time to time ("BitGo Terms of Use"). 


Nuri is the sole and exclusive responsible party for the contents relating to the operation of Nuri App and any and all contents provided on said media.



§ 2 – Nuri's Activities as a Tied Agent of Solaris


Nuri shall broker business transactions involving the purchase and sale of financial instruments as defined in section 1 (1a), sentence 2, no. 1 of the German Banking Act (Kreditwesengesetz; "KWG") using Nuri App. This also includes the services outlined under §4a (Savings Plan) below.


For this purpose, Nuri will act exclusively for the account and under the full liability of Solaris as a tied agent of Solaris within the meaning set out in section 2 (10) of the German Banking Act. In the context of investment brokerage, Nuri will act as a representative of Solaris.


Solaris is a CRR credit institution supervised by the German Federal Financial Supervisory Authority (BaFin) and the European Central Bank.


Solaris will assume civil liability to the customers of brokerage services in respect of any breach of duty committed by Nuri and directly connected with their activity as a broker of business transactions involving the purchase or sale of digital assets.


The customer may hence bring any claims on account of breaches of duty relating to Nuri's brokerage services directly against Solaris.


Solaris has notified the Federal Financial Supervisory Authority of its assumption of liability. Nuri has been registered as a tied agent of Solaris with the public register of tied agents, which is available on BaFin's website



In regard to the Solaris bank account, that is required for the usage of the Nuri Apps, and any additional services provided by Solaris, the dedicated terms and conditions from the Solaris apply. 


Nuri is not authorized to procure ownership or possession of customers' monies or securities.


Apart from providing investment brokerage services in respect of digital asset transactions in its capacity as a tied agent of Solaris, Nuri also provides other services, which are not subject to license requirements, in its own name. Solaris shall not be liable for any breaches of duty committed by Nuri in respect of such additional services.



§ 3 – Amendments to the Present General Terms and Conditions


Any amendments to the present General Terms and Conditions will be notified to the customer by no later than two months prior to their proposed effective date on the Nuri Apps and/or made available on the email address provided by the customer. 


Amendments will be made available in a form that allows customers to save and print them in a readable format. Any amendments notified to the customer in accordance with para. 1 above will be deemed accepted, unless the customer objects within the time period specified in para. 3 below in text form. In its notification Nuri will specifically inform the customer that consent will be deemed given in the absence of objection. 


Customers who do not wish to accept an amendment proposed to them will have to notify their objection in text form to Nuri within six weeks after the amendment has been proposed to them by e-mail. In the absence of objection within the aforementioned time period, the amendments will be deemed accepted by the customer.



§ 4 – Digital Assets


Digital assets are electronic forms of money which are generated via a decentralized peer-to-peer network on the internet and encrypted on the basis of digital signatures and whose development is based on a white paper of Satoshi Nakamoto


Digital assets are no legal tender recognized and backed as an official means of payment by any government agency ("Money"). Ownership of digital assets does not found or prove any claim against an issuer within the meaning of section 1 (2) of the German Payment Services Supervision Act (Gesetz über die Beaufsichtigung von Zahlungsdiensten; ZAG), either.


Nuri App gives customers the opportunity to purchase or sell digital assets for euros. The trade is subject to the relevant terms and conditions of Solarisbank and may be subject to certain individual or general limits for a particular trade or a certain period (“Trading Limits”).


§ 4a - Savings Plan


In addition to the general purchase process, the Customer may order an ongoing purchase of certain cryptocurrencies at various intervals ("Savings Plan").


Solarisbank will execute the purchases based on the criteria determined by the Customer in the Nuri Apps in accordance with Solaris Special Conditions for Trading in Crypto Currencies ("Planned Purchase"). The process of the Savings Plan and Planned Purchase is as follows:


The Savings Plan is activated through the Nuri Apps. Purchases under the Savings Plan are brokered via Nuri acting as Solaris’s tied agent. 


The Customer selects the parameters of the Savings Plan ("Plan Parameters") in the Nuri Apps.


These are: 

  1. Amount of the the Planned Purchase in EUR;
  2. cryptocurrency of the Planned Purchase;
  3. purchase intervals (e.g. monthly); and
  4. start date of the Savings Plan.

Activation of a Savings Plan must be confirmed with a second factor authentication (“2FA”) in the Nuri Apps. 


Each Savings Plan may include only one type of cryptocurrency (e.g. Bitcoin, Ether). For each cryptocurrency the Customer must create a separate Savings Plan. 


Upon activation of a Savings Plan, Solarisbank will execute the transactions according to the Plan Parameters without requiring any further authorization via 2FA for the individual transactions.  


A Planned Purchase will be only executed if the funds in EUR required for the execution of the Planned Purchase are available on the Customer's payment account at the time of execution.


If a Planned Purchase is not executed due to underfunding, the Customer will be informed thereof and the Planned Purchase will be executed at the next time provided for in the Planned Parameters. 


In other cases where the Planned Purchase cannot be executed, e.g. due to technical reasons or exceeding of a Trading Limit, the Customer will be informed and the Planned Purchase will be executed at the next time provided for in the Planned Parameters. The amount of the Planned Purchase which was not executed previously will not be added in the next Planned Purchase. 


The Customer may at any time change certain Plan Parameters for the future for each Savings Plan or terminate the Savings Plan in the Nuri Apps. 


The Customer may change only those Plan Parameters that the Nuri Apps allow him to change. If the Customer wishes to change other Plan Parameters, the existing Savings Plan can be terminated and a new Savings Plan with changed Plan Parameters can be activated. A change is effective only after authorization with 2FA. 



§ 5 – Technical Requirements


Access to the Web Application is only possible via a web browser running on a computer or mobile device with an internet connection. Access to the Mobile Application requires a suitable mobile phone with internet access. No other access procedures are supported. 


Once a customer has set up an account with Nuri , any and all communications between Nuri and the customer in connection with the purchase and sale of digital assets will be exclusively in electronic form using an online inbox on Nuri App or via e-mail, unless expressly otherwise provided in the present General Terms and Conditions. Notifications will not additionally be sent to the customer in paper form, unless otherwise required by law.


As a consequence, Nuri will not be liable for any damage resulting from the foregoing.



Natural persons with full legal capacity may register with Nuri.


Existing users are required to have a permanent residence in the Federal Republic of Germany or any other member state of the European Economic Area, Switzerland or the United Kingdom.

With respect to new users, the requirements for permanent residence outside of Germany are determined by Solarisbank and may change from time to time.

You can find more details on supported nationalities and permanent residence (as amended from time to time) here: https://nuri.com/supported-nationalities/.



§ 7 – Customer's Duties of Cooperation and Diligence


A proper processing of business transactions requires customers to notify Nuri without delay of any changes of their names or addresses. Customers have to check the messages received in the inbox of their Nuri App or by e-mail on a regular basis.

Customers can protect certain transactions using their mobile phones by generating a one-time password with the aid of special apps, like Google Authenticator.


Nuri recommends its customers to increase the security of their accounts by adding a 2FA (two-factor authentication feature). It is the customers' responsibility to keep their individual combination of username and password in safe custody. They have to take all possible care and all appropriate precautions to ensure that the individual combination of username and password is not retrieved by any unauthorized party. In particular, customers must not keep, store, or record their individual combination of user name and password by electronic or other means together with their other documents relating to Nuri, and they shall be required to choose their personal and individual combination of username and password in a way that cannot be easily be retrieved by unauthorized parties. 


Customers who have logged in to the Web Application using their username and password ("login") shall not leave the computer, from which they are logged in, unattended. In case of any non-compliance with the foregoing rules of conduct, the customer will be liable for all risks and damages associated with such non-compliance. Customers having installed the Mobile Application on their mobile phone shall have to protect their phone at least with a code.


A customer, who discovers that his individual combination of username and password has been retrieved by an unauthorized party or that his account with Nuri has been used in an unauthorized manner, shall have to inform Nuri immediately and, if possible, change his individual combination of username and password without delay. If such change is not possible, Nuri will immediately upon receipt and acknowledgement of the customer's corresponding notification and upon verification of the customer's identity during usual business hours block the customer's access to his account on the Nuri Apps until further notice.


Nuri shall be authorized to block a customer's account at any time when it discovers an unauthorized use of the account. In such case, Nuri will inform the customer of the steps required to prove his lawful ownership beyond doubt, which will be necessary for unblocking the account. If there are indications of any unauthorized use of an access, Nuri will be authorized to block the digital assets in the customer's wallet to make an outflow of digital assets impossible.


Customers may use any contents published by Nuri subject to Nuri 's written permission only.



§ 8 – Digital Asset Risk Notices; No Investment Advice


The current value of a digital asset will be determined by the respective number of the digital asset on offer and in demand on the market. More specifically, the value of a digital asset may depend on whether and, if so, how many suppliers of goods and services accept the respective digital asset as a means of payment. As a result, the value of a digital asset, like the value of securities, derivatives or other financial instruments traded on financial markets, is subject to price fluctuations. Investments in digital assets are highly speculative and associated with risks of loss even including total loss.


Unlike money or e-money, which are backed by state-owned central banks or private issuers, respectively, acceptance of digital assets as a means of payment is not guaranteed in any way. Hence, Nuri is no issuer, backer, or creator of digital assets and has no responsibility for the digital asset product in any other way, either.


The customer acknowledges the above-mentioned risks and agrees that use of Nuri App is at the customer's own risk.


The customer acknowledges and agrees that Nuri does not provide investment advice. Information provided by Nuri on Nuri App or in any other way is not intended to provide a personal recommendation to any customer relating to digital asset transactions based on an assessment of the customer's personal circumstances or presented as suitable for that customer.


In fact, it is given as legally non-binding information or as risk notice which Nuri is legally required to provide. Where Nuri provides the customer with additional information beyond these statutory requirements, e.g. by way of market comments, charts or analyses, such information does not constitute any form of investment advice but is intended to support the customer's independent investment decision.


§ 9 – Registration


When registering for the use of Nuri App by means of the Web Application, customers will be required to carry out the following steps:


  1. The customer registers on the banking.nuri.com domain and f ollows the instructions for opening an account.
  2. The customer goes through the opening procedure for the customer bank account with Solarisbank and enters the data required for this purpose.
  3. These data will then be verified by Solarisbank using video identification.
  4. Once the account has been successfully opened, the customer will be given access to Nuri App.

When registering for the use of Nuri App by means of the Mobile Application, customers will be required to carry out the following steps:

  1. The customer opens the respective app store (Google Play or Apple App Store) and downloads the Mobile Application.
  2. The customer registers to the Mobile Application and follows the instructions for opening an account.
  3. The customer goes through the opening procedure for the customer bank account with Solarisbank using the Nuri Mobile Application and enters the data required for this purpose.
  4. These data will then be verified by Solarisbank using video identification.
  5. Once the account has been successfully opened, the customer will be given access to Nuri App.

By using the link contained in the confirmation e-mail sent to the customer, the customer confirms the identity of his e-mail address. With the confirmation of his registration, the customer accepts these General Terms and Conditions.


For the purposes of registration, the customer is required to use an e-mail address with an inbox to which only he himself has access.


§ 10 – Authentication


When opening a customer bank account with Solarisbank, customers will have to prove their identity in compliance with the requirements set out by Solarisbank.


§ 11 – Services Provided by Nuri


Nuri offers its customers the opportunity to purchase digital assets from Solarisbank or to sell digital assets to Solarisbank by using the Nuri Apps (see also §§ 4, 4a). Nuri will receive and transmit the respective orders in its capacity as a tied agent of Solarisbank.


Nuri also brokers its customers a service for the safekeeping of their digital assets in a vault (non-custodial wallet). Nuri uses various security measures to protect their customers' digital assets from loss (e.g. theft by hackers). The use of digital asset vaults is offered free of charge.


Nuri explicitly draws the customer's attention to the fact that neither Nuri nor Solarisbank, BitGo or any other party know or will be able to restore (i) the seed phrase and, therefore, the private keys of a customer's digital asset Vault and/or (ii) main key or backup key of a digital asset Vault. A customer, who loses his seed phrase, main key or backup key, therefore may no longer be able to access his digital asset Vault and, as a result, the digital assets stored in that vault.


Nuri reserves the right to alter or discontinue any of the services provided by it or to add other services. In particular, Nuri reserves the right to temporarily or permanently cease the purchase or sale of digital assets through the Web Application or the Mobile Application.


§ 12 – Other Prices and Costs; Schedule of Prices and Services


The amounts of all commissions, fees, charges and expenses are shown in the current schedule of prices and services which is available at banking.nuri.com.   


Nuri is entitled to charge a “High Deposit Fee” if the average monthly balance on the customer bank account exceeds the threshold specified in the schedule of prices and services. 


The amount of the “High Deposit Fee” is based on the deposit rate of the European Central Bank; the “High Deposit Fee” will not apply if the deposit rate is greater than or equal to zero. The “High Deposit Fee” is collected from the customer's bank account by Nuri on a monthly basis by direct debit.


Changes to the price and service specifications are possible in accordance with § 3 of these General Terms and Conditions.


Unless otherwise agreed, payment of commissions, fees, charges and disbursements shall be made by direct debit. In the case of payment by direct debit, the customer gives Nuri a direct debit authorisation to collect the amount from the customer's bank account. The customer authorizes Nuri to use this SEPA Direct Debit Mandate, to collect the direct debit payment from the customer bank account and instructs Solarisbank to redeem this direct debit. The customer may revoke such a direct debit up to 8 weeks after the debit date. Nuri will inform the Customer together with the payment confirmation about the amount of the direct debit and the time frame within which the direct debit will be collected


In the event of a returned direct debit which the customer has not initiated, the customer authorises Nuri to carry out a new direct debit at a later point in time unless the customer has already settled the outstanding amount in another way. Nuri will not refer separately to the amount and the time before resubmitting the direct debit


§ 13 – Liability of Nuri


Nuri is seeking to ensure a continuous access to Nuri App, but cannot guarantee permanent availability. This primarily applies in cases of attacks to the network infrastructure, e.g. by so-called DDoS attacks that may occur with varying degrees of seriousness.


Nuri cannot take any responsibility for the contents provided on Nuri App being complete, accurate or up to date. Using these contents is at the user's own risk.


Nuri does not accept liability for damages arising to a customer as a result of using the services provided or contents published by Nuri.


This disclaimer shall not apply however in cases of intentional or grossly negligent behavior on the part of Nuri or any of its vicarious agents.


In addition, this disclaimer does not apply to any damage arising from injury to life, body, or health resulting from a breach of duty by Nuri or any of its vicarious agents. 


Furthermore, the above disclaimer does not affect Nuri's liability for the breach of any obligations, the proper fulfillment of which is essential for the proper performance of the contract and on the fulfillment of which the customer may reasonably rely.


§ 14 – Customer's Termination Rights


Provided no term or other termination clause has been agreed between the parties, the customer may terminate the entire business relationship at any time without observing a notice period. Notice of termination may be given to Nuri over the Web Application or in text form. 


Nuri will also act as a messenger for communicating the customer's notice of termination to Solarisbank. 


The customer's statutory termination rights shall remain unaffected.



§ 15 – Nuri's Termination Rights


Nuri may terminate its business relationship with the customer at any time by way of an ordinary termination giving no less than two months' prior notice. When determining the notice period, the bank will take account of the customer's legitimate interests.


Nuri may terminate its business relationship with the customer without observing a notice period if there is an important reason for which Nuri cannot be reasonably expected to continue the business relationship even in consideration of the customer's legitimate interests. Repeated violations of these General Terms and Conditions shall be deemed to constitute such important reason. 


A serious one-time violation of the General Terms and Conditions, including deception or attempted deception of Solarisbank or Nuri by a customer deliberately providing false information, for example, also constitutes an important reason for the purposes hereof. Another important reason for termination is when a customer revokes his consent to the collection and use of data by Nuri because Nuri will no longer be able to provide the services it offers without storing and using the customer's data.


Notice of termination will be given by e-mail to the e-mail address provided by the customer.



§ 16 – Interdependent Effects of Termination


As of the effective date of the termination of the contract relating to the Nuri Account, the contract relating to the bank account will also be deemed effectively terminated.


As of the effective date of the termination of the contract relating to the bank account, the contract relating to the Nuri Account will also be deemed effectively terminated.



§ 17 – Settlement Following Termination


The customer's bank account will be settled in accordance with the rules of Solarisbank. The customer may continue to use the wallet through the wallet provider BitGo. For this purpose, the customer may visit BitGo's website at https://www.bitgo.com/ and use the recovery tool.



§ 18 – Governing Law


The contractual relationships between the customer and Nuri shall be governed by German law excluding the UN Convention on Contracts for the International Sale of Goods.


Support and Complaints


Nuri's objective is to provide products and services that fulfill the needs of each of their customers

If you still have questions or wish to file a complaint to Nuri, it will be Nuri's ambition to treat the matter and clarify the issue in a prompt and transparent manner.

Every customer is invited to contact Nuri at support.nuri.com to present any questions or complaints using various channels.


The European Commission has set up a European Online Dispute Resolution (ODR) Platform at https://ec.europa.eu/consumers/odr/. We do not participate in dispute resolution proceedings with any consumer conciliation board.