Please read these Terms of Use carefully before accessing or using the LetzPool platform. By creating a pool, joining a pool as an Authorised Member, or otherwise using any feature of the LetzPool platform, you agree to be bound by these Terms. If you do not agree, you must not use the platform.
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LetzPool is operated by LetzPool Ltd, a company incorporated in England and Wales (Company Number: 17063044). LetzPool is a platform-controlled pooled-entity spend governance service, built on Stripe's licensed payment infrastructure. LetzPool is not a bank, a payment institution, an e-money institution, or a consumer financial product.
LetzPool qualifies as a Technical Service Provider under paragraph 2(f) of Schedule 1 to the Payment Services Regulations 2017 (PSRs 2017). LetzPool provides platform software, pooled-entity governance logic, spend-control configuration, and Stripe API communication. All regulated money movement — including fund receipt, card issuance, settlement, and dissolution refunds — is executed exclusively by Stripe Technology Europe Limited and its licensed infrastructure. Stripe is the sole regulated entity in the transaction chain.
The LetzPool platform is not a consumer product. It is not designed or presented for personal, family, or household use. The pooled entity constituted by Authorised Members is always the spending entity; individual members are not.
To use LetzPool you must:
LetzPool reserves the right to decline or terminate access where use does not conform to these requirements.
The defining characteristic of LetzPool is its financial model: Equal Ownership Fairness. This is a mathematical invariant enforced by the platform architecture, not a configurable policy:
equity_per_member = pool_balance_pence ÷ active_member_count
This means:
The platform records only the canonical pool balance and the current active member count. There is no secondary ledger, no individual balance, and no concept of personal contribution credit.
A new Authorised Member cannot join a pool passively. Joining requires a mandatory buy-in PaymentIntent processed by Stripe:
buy_in_pence = pool_balance_pence ÷ existing_member_count
This amount is calculated deterministically by the platform and is not configurable by any member or operator. Membership status transitions to ACTIVE only after the PaymentIntent is confirmed by Stripe. No passive admission exists. No free equity is granted. All members at all times hold mathematically identical economic exposure to the pool balance.
All contributions to a pool are processed as Stripe PaymentIntents via Stripe's licensed infrastructure. LetzPool never receives, holds, or disburses your funds. All contributed funds are held exclusively within Stripe's Safeguarded Balance.
A contribution is a group-level equity event: it increases the pool balance and each member's equal derived share. No contribution creates a personal credit or recoverable stake for the contributing member beyond their equal share of the pool balance.
Strong Customer Authentication (SCA) is applied to all PaymentIntents in accordance with Stripe's obligations as an authorised e-money institution.
Each Authorised Member receives a Stripe Issuing virtual card for use in authorising spend on behalf of the pooled entity. Cards draw from the shared pool balance under LetzPool's platform-enforced spending controls. Members do not hold personal sub-balances.
The following categories of spend are blocked unconditionally at the Stripe Issuing authorisation layer and cannot be overridden by any member or operator:
Spending controls, card limits, and pool-level authorisation rules are enforced by the platform. No Authorised Member can unilaterally modify their card's spending controls.
Dissolution of a pool is triggered by one of two events:
Leaving a pool is not a personal withdrawal. No member has a personal share to recover independently of dissolution. Dissolution is automatic, rule-based, and non-discretionary. It does not require the consent of remaining members.
Dissolution is blocked until all outstanding spend authorisations reach a terminal state (settled or reversed). Upon dissolution:
refund_per_member = final_pool_balance_pence ÷ active_member_count;LetzPool cannot delay, modify, or redirect dissolution refunds. All refund routing and remediation are Stripe's sole responsibility. If Stripe cannot complete a refund due to an expired or replaced payment instrument, LetzPool will notify the affected member. LetzPool does not hold funds, does not provide alternative payout paths, and does not perform manual disbursements under any circumstances.
LetzPool is not a money transmitter, payment institution, or e-money institution. LetzPool:
All Authorised Members must complete identity verification via Stripe Identity — including a government-issued document check and a biometric selfie liveness check — as a mandatory condition of admission to any pool. No unverified individual may hold ACTIVE membership status, contribute funds, or execute authorised spend.
KYC and AML screening are performed by Stripe pursuant to Stripe's own regulatory obligations as an authorised e-money institution. LetzPool does not manage these processes independently. LetzPool does not override, bypass, or manually approve failed identity verification results.
Enhanced Due Diligence may be triggered where cumulative pool contributions exceed applicable risk thresholds. LetzPool complies with all applicable UK anti-money laundering obligations, including suspicious activity reporting under the Proceeds of Crime Act 2002 where thresholds are met.
All dispute and chargeback processing is executed by Stripe. LetzPool surfaces dispute notifications to Authorised Members and coordinates evidence collection. Compiled evidence is submitted to Stripe via Stripe's dispute evidence API. LetzPool does not submit evidence to card networks directly and does not independently manage chargeback processes.
Dispute outcomes affect the canonical pool balance symmetrically across all members under the Equal Ownership Fairness model. No individual member bears a disproportionate liability.
LetzPool operates on a best-efforts basis. LetzPool does not guarantee uninterrupted access to the platform. Stripe's infrastructure availability governs the availability of all regulated payment functions.
To the fullest extent permitted by applicable law, LetzPool's liability to any Authorised Member is limited to direct losses caused by LetzPool's own negligence or wilful misconduct. LetzPool is not liable for losses arising from Stripe's infrastructure, card network failures, refund failures, or events outside LetzPool's reasonable control.
Nothing in these Terms limits liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be limited by law.
You must not use the LetzPool platform:
LetzPool reserves the right to suspend or terminate access immediately and without notice where a breach of these conditions is suspected.
These Terms of Use are governed by the laws of England and Wales. Any dispute arising under or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.
LetzPool reserves the right to update these Terms of Use at any time. Material changes will be communicated to Authorised Members with reasonable notice before they take effect. Continued use of the platform following notification of changes constitutes acceptance of the updated Terms.